Latest news with #GenesisAI
Business Insider
6 days ago
- Business
- Business Insider
Genesis AI Raises $105M to Train Robotics AI Aiming at $30T Labor Market
Genesis AI, a private company, has raised $105 million in seed funding to develop a universal robotics foundation model (RFM) designed to automate physical labor across industries. The round was co-led by Eclipse Ventures and Khosla Ventures, with participation from Bpifrance, HSG, and notable investors including former Google (GOOG) CEO Eric Schmidt and French billionaire Xavier Niel. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. The company, founded in December 2024, operates out of Palo Alto and Paris. Its co-founders are Zhou Xian, a Carnegie Mellon robotics Ph.D. holder, and Théophile Gervet, a former researcher at Mistral AI. Genesis Aims for Full Stack Approach Genesis AI's core product is a large-scale model designed to equip robots with the ability to handle a wide range of real-world tasks. Its in-house physics simulation engine generates high-quality synthetic data, reducing the need for expensive and time-consuming real-world data collection. Combined with a data pipeline for real robot interactions, the company claims it can build robotics AI systems faster and more cost-effectively than competitors relying on third-party tools. The goal is to bring general-purpose robotics closer to reality by making it more flexible, robust, and cost-efficient. Genesis AI plans to release components of its model and data engine to the developer community by the end of 2025. $30 Trillion to $40 Trillion in Global GDP According to the company, over 95% of physical labor worldwide remains unautomated, despite accounting for an estimated $30 trillion to $40 trillion in global GDP. Genesis AI is targeting this opportunity with a full-stack approach that spans simulation, generative modeling, and real-world deployment. While competitors like Tesla (TSLA) and Nvidia (NVDA) focus on hardware or modular platforms, Genesis AI is betting that foundation models will define the next phase of robotics. If successful, its platform could support a range of use cases, from warehouse operations to consumer robots. Using TipRanks' comparison tool, we've assembled and compared the tickers appearing in the piece that operate in the robotics sector. This helps investors gain a proper perspective on each stock's performance and the industry as a whole.
Bloomberg
01-07-2025
- Business
- Bloomberg
Robotics Startup Raises $105 Million Seed From US, China VCs
Genesis AI, a startup working on software for robots, has raised $105 million in a funding round with both US and Chinese backers — a rarity in an industry split along geopolitical lines. The company, which lists headquarters in Paris and Palo Alto, California, announced the investment in a statement on Tuesday. Venture capital firms Khosla Ventures and Eclipse Capital led the financing, which also included participation from French public bank Bpifrance, tech billionaires Eric Schmidt and Xavier Niel, and HongShan, the fund formerly known as Sequoia China.
Yahoo
01-07-2025
- Business
- Yahoo
Genesis AI launches with $105M seed funding from Eclipse, Khosla to build AI models for robots
Genesis AI, a startup that aims to build a foundational model for powering all kinds of robots, has emerged from stealth with a giant $105 million seed round co-led by Eclipse Ventures and Khosla Ventures. Founded last December by Zhou Xian (pictured above, left), a Ph.D. in robotics from Carnegie Mellon University, and Théophile Gervet, a former research scientist with the French AI lab Mistral, the startup wants to build a general-purpose model that will enable robots to automate a wide range of repetitive tasks, from lab work to housekeeping. Large language models are trained on vast datasets of text, but AI models for robotics must be trained on data on the physical world. However, acquiring that real-world data makes for a costly and time-consuming endeavor. To overcome that, Genesis is turning to synthetic data, which it generates using a proprietary physics engine that, it says, is capable of accurately modelling the physical world. Genesis' synthetic data engine originated from an academic project that Xian led in collaboration with researchers from 18 universities. Several participants from that project have since joined Genesis, making up its current staff of over 20 researchers who specialize in robotics, machine learning and graphics. Genesis claims its proprietary simulation engine allows it to develop models faster, a distinct advantage over competitors who rely on NVIDIA's software. Other companies working on developing general-purpose AI models for robots include Physical Intelligence, which raised a $400 million round; and Skild AI, which was valued at $4 billion earlier this year. 'It's a big unknown: Will anybody have a large robotics foundation model that will generalize across tasks? That's a bet we want to go after,' Kanu Gulati, a partner at Khosla Ventures, told TechCrunch. 'Of all the teams we have seen, we like [Genesis's] approach for going after robotics foundation models,' she added. Genesis is developing its synthetic data and building the foundational model across two offices, in Silicon Valley and Paris. As the next milestone, Genesis plans to release its model to the robotics community by the end of the year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
01-07-2025
- Business
- TechCrunch
Genesis AI launches with $105M seed funding from Eclipse, Khosla to build AI models for robots
Genesis AI, a startup that aims to build a foundational model for powering all kinds of robots, has emerged from stealth with a giant $105 million seed round co-led by Eclipse Ventures and Khosla Ventures. Founded last December by Zhou Xian (pictured above, left), a Ph.D. in robotics from Carnegie Mellon University, and Théophile Gervet, a former research scientist with the French AI lab Mistral, the startup wants to build a general-purpose model that will enable robots to automate a wide range of repetitive tasks, from lab work to housekeeping. Large language models are trained on vast datasets of text, but AI models for robotics must be trained on data on the physical world. However, acquiring that real-world data makes for a costly and time-consuming endeavor. To overcome that, Genesis is turning to synthetic data, which it generates using a proprietary physics engine that, it says, is capable of accurately modelling the physical world. Genesis' synthetic data engine originated from an academic project that Xian led in collaboration with researchers from 18 universities. Several participants from that project have since joined Genesis, making up its current staff of over 20 researchers who specialize in robotics, machine learning and graphics. Genesis claims its proprietary simulation engine allows it to develop models faster, a distinct advantage over competitors who rely on NVIDIA's software. Other companies working on developing general-purpose AI models for robots include Physical Intelligence, which raised a $400 million round; and Skild AI, which was valued at $4 billion earlier this year. Techcrunch event Save $450 on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW 'It's a big unknown: Will anybody have a large robotics foundation model that will generalize across tasks? That's a bet we want to go after,' Kanu Gulati, a partner at Khosla Ventures, told TechCrunch. 'Of all the teams we have seen, we like [Genesis's] approach for going after robotics foundation models,' she added. Genesis is developing its synthetic data and building the foundational model across two offices, in Silicon Valley and Paris. As the next milestone, Genesis plans to release its model to the robotics community by the end of the year.
Yahoo
11-06-2025
- Business
- Yahoo
Starkey and MED-EL Announce All-New DualSync Partnership to Advance Bluetooth Connectivity for Cochlear Implant Users
DURHAM, N.C., June 11, 2025--(BUSINESS WIRE)--Driven by a shared commitment to advancing hearing health, global hearing technology leaders Starkey and MED-EL are bringing their exclusive collaboration to life. Introducing DualSync, a bimodal streaming partnership enabling Apple technology to seamlessly stream to compatible Starkey hearing aids and MED-EL cochlear implants. This partnership brings together the strength of Starkey's industry-leading hearing aids with the innovation behind MED-EL's cochlear implants, creating a seamless and unified wireless audio experience for people who rely on both technologies. Beginning July 1, 2025, Starkey Edge AI and Genesis AI hearing aids and MED-EL SONNET 3, SONNET 2, SONNET, and RONDO 3 audio processors will be compatible for bimodal streaming. The solution is designed to support a growing ecosystem of devices and will be compatible with future innovations from both companies. DualSync technology provides seamless audio connectivity and synchronized sound from compatible smartphones and media devices, empowering users with more natural, connected hearing. "Hearing loss takes many forms and, in some cases, multiple technologies are required for the best outcome of the patient," said Brandon Sawalich, President and CEO of Starkey. "Today, two global tech leaders are combining world-class innovations to connect more people back to the things they love most. Partnering with MED-EL reflects our shared commitment to delivering excellence without exception." "By uniting two leading technologies, we are delivering a global solution that gives bimodal users effortless connectivity, clearer sound, and greater control in their daily lives," adds Dr. Ingeborg Hochmair, co-founder and CEO of MED-EL. "Our shared goal is simple: to make it easier for people everywhere to hear, communicate, and engage with the world – using the most advanced technology available." This collaboration reflects a shared commitment to patient-first innovation, personalized care, and expanding access to the latest in hearing technology available to users worldwide. For more information, please visit or About Starkey Starkey is a privately held, global hearing technology company headquartered in Eden Prairie, Minnesota. Founded by Bill Austin in 1967, Starkey is known for its innovative design, development and distribution of comprehensive digital hearing systems. Led today by President and CEO Brandon Sawalich, Starkey is the only American-owned provider of hearing technologies. The company has more than 5,000 employees, operates 29 facilities and does business in more than 100 markets worldwide. Learn more at About MED-EL MED-EL Medical Electronics, a leader in implantable hearing solutions, is driven by a mission to overcome hearing loss as a barrier to communication and quality of life. The Austrian-based, privately owned business was co-founded by industry pioneers Ingeborg and Erwin Hochmair, whose ground-breaking research led to the development of the world's first micro-electronic multi-channel cochlear implant (CI), which was successfully implanted in 1977 and was the basis for what is known as the modern CI today. This laid the foundation for the successful growth of the company in 1990, when they hired their first employees. To date, MED-EL has more than 2,900 employees from around 90 nations and 30 locations worldwide. The company offers the widest range of implantable and non-implantable solutions to treat all types of hearing loss, enabling people in 137 countries enjoy the gift of hearing with the help of a MED-EL device. MED-EL's hearing solutions include cochlear and middle ear implant systems, a combined electric acoustic stimulation hearing implant system, as well as surgical and non-surgical bone conduction devices. View source version on Contacts MEDIA CONTACT: Rebecca Novak Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
