Latest news with #LuxCapital
Yahoo
3 days ago
- Business
- Yahoo
Context gets $11M to build an AI-powered office suite
Context, a startup building an AI-powered office suite, on Wednesday announced that it raised $11 million in a seed round led by Lux Capital with participation from Qualcomm Ventures and General Catalyst. The round, which brings the company's total raised to around $15.75 million, values Context at $70 million. Founder Joseph Semrai, a Thiel Fellow, started working on Context in 2024 after he realized that current digital office suites are not well suited to take advantage of AI models. "[W]e have a bunch of disparate applications that aren't necessarily built keeping the power of [AI models] in mind," Semrai told TechCrunch in a phone interview. "We want to take advantage of the fact that [models] can understand large context windows and use multiple applications at the same time to get the best result." Over the past few years, many startups in the productivity and browsing space have made user interface changes to adopt a chat-forward experience, largely thanks to the rise of AI-powered chatbots like ChatGPT. Semrai thinks that Context, which is similarly chat-focused, can be a powerful tool for workers using an office suite, similar to how Cursor has become a useful application for programmers. Office suite makers like Google and Microsoft have infused AI into their applications. Canva, which has been in the creative space historically, is also designing products that suit all kinds of office work with AI at the center. Notion, meanwhile, is building an enterprise workplace with an AI search and research mode. Many of these products offer connectors to third-party applications. But Semrai said that while connecting to sources and retrieving data is becoming commoditized, new-age tools don't always deliver capabilities that help with analysis. That, he said, is where Context comes in — it's designed to make it easier for users to reason over the data they fetch from various sources and make decisions based on that. Context has a simple interface with a chat box in the center. You can ask the AI tool to perform research derived from your documents, integrations, and web knowledge. You can then ask it to convert all this to a document, spreadsheet, or presentation, while continuing to interact with it to generate different artifacts. Context also offers a Python interpreter to let you run code. The goal isn't necessarily replacing a fully-featured office suite like Microsoft 365. Rather, Context is going after a market not well-served by the current crop of tools, according to Semrai. For example, unlike many AI-powered data analysis products, Context will soon be able to work offline, enabling simple analysis and document drafting based on existing data and documents via Context's desktop client. Users can try out Context for free with 50 credits, one workspace, and 10 team members. Alternatively, they can pay $20 per month to get 2,000 credits with no limits on workspaces and team members. This article originally appeared on TechCrunch at
TechCrunch
3 days ago
- Business
- TechCrunch
Context gets $11M to build an AI-powered office suite
Context, a startup building an AI-powered office suite, on Wednesday announced that it raised $11 million in a seed round led by Lux Capital with participation from Qualcomm Ventures and General Catalyst. The round, which brings the company's total raised to around $15.75 million, values Context at $70 million. Founder Joseph Semrai, a Thiel Fellow, started working on Context in 2024 after he realized that current digital office suites are not well suited to take advantage of AI models. '[W]e have a bunch of disparate applications that aren't necessarily built keeping the power of [AI models] in mind,' Semrai told TechCrunch in a phone interview. 'We want to take advantage of the fact that [models] can understand large context windows and use multiple applications at the same time to get the best result.' Over the past few years, many startups in the productivity and browsing space have made user interface changes to adopt a chat-forward experience, largely thanks to the rise of AI-powered chatbots like ChatGPT. Semrai thinks that Context, which is similarly chat-focused, can be a powerful tool for workers using an office suite, similar to how Cursor has become a useful app for programmers. Context founder Joseph Semrai Image Credits: Context Office suite makers like Google and Microsoft have infused AI into their applications. Canva, which has been in the creative space historically, is also designing products that suit all kinds of office work with AI at the center. Notion, meanwhile, is building an enterprise workplace with an AI search and research mode. Many of these products offer connectors to third-party applications. But Semrai said that while connecting to sources and retrieving data is becoming commoditized, new-age tools don't always deliver capabilities that help with analysis. That, he said, is where Context comes in — it's designed to make it easier for users to reason over the data they fetch from various sources and make decisions based on that. Context has a simple interface with a chat box in the center. You can ask the AI tool to perform research based on your documents, integrations, and web knowledge. You can then ask it to convert all this to a document, spreadsheet, or presentation, while continuing to interact with it to generate different artifacts. Techcrunch event Join us at TechCrunch Sessions: AI Secure your spot for our leading AI industry event with speakers from OpenAI, Anthropic, and Cohere. For a limited time, tickets are just $292 for an entire day of expert talks, workshops, and potent networking. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW Context also offers a Python interpreter to let you run code. The goal isn't necessarily replacing a fully-featured office suite like Microsoft 365. Rather, Context is going after a market not well-served by the current crop of tools. For example, unlike many AI-powered data analysis products, Context will soon be able to work offline, Semrai said, enabling simple analysis and document drafting based on existing data and documents via Context's desktop app. Users can try out Context for free with 50 credits, one workspace, and 10 team members. Alternatively, they can pay $20 per month to get 2,000 credits with no limits on workspaces and team members.
Bloomberg
19-05-2025
- Business
- Bloomberg
Lux Capital Takes on Science Risk
Years of underinvestment in science are putting the US behind China in technological advances, says Lux Capital Managing Partner Josh Wolfe. Wolfe explains why the firm is lowering the bar for science risk in the ventures it invests in, with Ed Ludlow on 'Bloomberg Technology.' (Source: Bloomberg)
Business Wire
15-05-2025
- Business
- Business Wire
Cognichip Launches out of Stealth with $33M in Seed Funding to Deliver Artificial Chip Intelligence – ACI®
SAN FRANCISCO--(BUSINESS WIRE)-- Cognichip, the company pioneering Artificial Chip Intelligence (ACI®) to power the future of semiconductor design, today announced its launch out of stealth with $33 million in seed funding. Led by Lux Capital and Mayfield, with support from FPV and Candou Ventures, Cognichip is pioneering the first physics-informed foundational model (PIFM) for semiconductors, designed to drastically accelerate development timelines, reduce costs, and enable the next wave of AI innovation. Not Just Faster, Cheaper, Better: The New Industry Scaling Factor Founded by experts from Amazon, Google, Apple, Synopsys, Aquantia, and KLA, Cognichip is tackling two major challenges in semiconductor development: high cost and inaccessibility. Chip design today is time-consuming and expensive, often taking 3-5 years and over $100M before reaching production. Traditional approaches, which rely on throwing more money, compute power, and people at the problem, are no longer sustainable. This is especially concerning given the projected shortage of 1 million skilled workers by 2030 – a workforce gap that threatens to constrain the industry's estimated growth in sales to its projected $1 trillion potential [ Deloitte ]. Cognichip is building ACI® to address these issues, making chip design faster, easier, and more accessible. 'Our vision is to fundamentally reshape the economics of semiconductor design,' said Faraj Aalaei, CEO and Founder of Cognichip. 'As a founder who has successfully taken two semiconductor companies public, and as a venture capitalist, I have seen firsthand how semiconductor startups are often deemed 'unfundable' due to high costs and long timelines. With the rise of Generative AI, we have a once-in-a-generation opportunity to rethink how chips are designed. I founded Cognichip to disrupt the outdated chip design process and to make semiconductor innovation scalable, secure, and accessible to aspiring future pioneers of our industry. To tackle this massive task, we have assembled a pioneer-minded team stacked with AI scientists with world-class credentials, brilliant chip design veterans, and the best-of-breed enterprise software developers.' Introducing Artificial Chip Intelligence – ACI® Cognichip's ACI® introduces a breakthrough, physics-informed AI foundation model, purposely built for semiconductor design. ACI® fundamentally rethinks 40 years of traditional, serial chip development with a modern, AI-first, conversational design approach, leveraging large-scale, secure, accelerated compute infrastructures. From individuals to enterprises, ACI® allows engineering teams to work more efficiently and cost-effectively, elevating artificial intelligence as the new scaling factor for the semiconductor industry. Key benefits of ACI® include: 50% faster design cycles: Reduces time from concept to production through concurrent local and global optimization 75% reduction in development costs: Dramatically reduces the effort and expertise required to develop and test chips Improved power, performance, and efficiency: Eliminates unnecessary bloating by bringing products closer to requirements and continuously optimizing for area and power Enhanced flexibility: Adapts easily to changes in market demands and product variations, minimizing costly redesigns Simplified scalability: Enables rapid creation of new product variants to meet market demands for flexible portfolio management Beyond efficiency, ACI® brings much-needed flexibility to the supply chain. Traditionally, switching chip manufacturers or modifying production processes requires extensive redesign efforts. Cognichip's interoperable ACI® solution eliminates this friction, enabling seamless scaling, reducing supply chain risks, and allowing companies to plan for future growth with greater agility. 'The semiconductor industry is at a critical inflection point, with traditional design methods becoming increasingly unsustainable amid escalating costs and a looming talent shortage. What excites us is how Cognichip is fundamentally transforming the economics and speed of semiconductor design through their Artificial Chip Intelligence,' said Navin Chaddha, Managing Partner at Mayfield. "We are excited to partner with Faraj Aalaei and the Cognichip team as they democratize access to semiconductor innovation and build something truly revolutionary that will power tomorrow's AI infrastructure.' 'Cognichip is introducing a new scaling factor for semiconductors: intelligence. By embedding AI deep into the physics of chip design, they are accelerating innovation in a way that traditional scaling could never achieve, said Shahin Farshchi, Partner at Lux Capita l. 'We believe Cognichip's approach will reshape the foundation of the semiconductor industry for decades to come." 'Collapsing the traditional barriers of chip design is not only a turning point for the semiconductor industry; it stands to benefit the entire global technology economy,' said Pegah Ebrahimi Co-Founder and Managing Partner at FPV Ventures. 'Silicon Valley was put on the map because of the semi companies that were born here, and I'm thrilled to back a team of exceptional veterans reshaping yet again the future of semiconductor design by making advanced compute solutions more accessible to any player. Cognichip will accelerate breakthroughs across AI, energy, healthcare, and every industry where progress depends on smarter, cheaper, more efficient hardware.' To learn more about Cognichip or to join their mission, visit About Cognichip Cognichip is developing the world's first Artificial Chip Intelligence (ACI®) to reimagine chip design. Founded by experts from Amazon, Google, Apple, Aquantia, Synopsys, and KLA, the company tackles high cost and inaccessibility in chip development, enabling hardware to evolve as quickly as software innovation. Backed by $33 million in seed funding from Mayfield, Lux Capital, FPV, and Candou Ventures, Cognichip's ACI® reduces design cycles by 50%, cuts development costs by 75%, and optimizes power, performance, and efficiency. ACI® accelerates innovation and broadens access to semiconductor technology by making it easier, more affordable, and accessible to a broader range of innovators. Learn more at
Yahoo
15-05-2025
- Business
- Yahoo
Cognichip Launches out of Stealth with $33M in Seed Funding to Deliver Artificial Chip Intelligence – ACI®
Backed by Lux Capital, Mayfield, FPV, and Candou Ventures, Cognichip aims to modernize chip design by introducing the first-of-its-kind, physics-informed AI foundation model for semiconductors Cognichip's technology achieves Artificial Chip Intelligence (ACI®), a type of artificial intelligence that understands, learns, and solves chip design problems with designer-level cognitive abilities ACI® fundamentally reshapes the economics of semiconductors, bringing a 75% reduction in development cost, 50% faster completion, and eliminating excessive chip size and power, making chip design easier, more accessible, and sustainable SAN FRANCISCO, May 15, 2025--(BUSINESS WIRE)--Cognichip, the company pioneering Artificial Chip Intelligence (ACI®) to power the future of semiconductor design, today announced its launch out of stealth with $33 million in seed funding. Led by Lux Capital and Mayfield, with support from FPV and Candou Ventures, Cognichip is pioneering the first physics-informed foundational model (PIFM) for semiconductors, designed to drastically accelerate development timelines, reduce costs, and enable the next wave of AI innovation. Not Just Faster, Cheaper, Better: The New Industry Scaling Factor Founded by experts from Amazon, Google, Apple, Synopsys, Aquantia, and KLA, Cognichip is tackling two major challenges in semiconductor development: high cost and inaccessibility. Chip design today is time-consuming and expensive, often taking 3-5 years and over $100M before reaching production. Traditional approaches, which rely on throwing more money, compute power, and people at the problem, are no longer sustainable. This is especially concerning given the projected shortage of 1 million skilled workers by 2030 – a workforce gap that threatens to constrain the industry's estimated growth in sales to its projected $1 trillion potential [Deloitte]. Cognichip is building ACI® to address these issues, making chip design faster, easier, and more accessible. "Our vision is to fundamentally reshape the economics of semiconductor design," said Faraj Aalaei, CEO and Founder of Cognichip. "As a founder who has successfully taken two semiconductor companies public, and as a venture capitalist, I have seen firsthand how semiconductor startups are often deemed 'unfundable' due to high costs and long timelines. With the rise of Generative AI, we have a once-in-a-generation opportunity to rethink how chips are designed. I founded Cognichip to disrupt the outdated chip design process and to make semiconductor innovation scalable, secure, and accessible to aspiring future pioneers of our industry. To tackle this massive task, we have assembled a pioneer-minded team stacked with AI scientists with world-class credentials, brilliant chip design veterans, and the best-of-breed enterprise software developers." Introducing Artificial Chip Intelligence – ACI® Cognichip's ACI® introduces a breakthrough, physics-informed AI foundation model, purposely built for semiconductor design. ACI® fundamentally rethinks 40 years of traditional, serial chip development with a modern, AI-first, conversational design approach, leveraging large-scale, secure, accelerated compute infrastructures. From individuals to enterprises, ACI® allows engineering teams to work more efficiently and cost-effectively, elevating artificial intelligence as the new scaling factor for the semiconductor industry. Key benefits of ACI® include: 50% faster design cycles: Reduces time from concept to production through concurrent local and global optimization 75% reduction in development costs: Dramatically reduces the effort and expertise required to develop and test chips Improved power, performance, and efficiency: Eliminates unnecessary bloating by bringing products closer to requirements and continuously optimizing for area and power Enhanced flexibility: Adapts easily to changes in market demands and product variations, minimizing costly redesigns Simplified scalability: Enables rapid creation of new product variants to meet market demands for flexible portfolio management Beyond efficiency, ACI® brings much-needed flexibility to the supply chain. Traditionally, switching chip manufacturers or modifying production processes requires extensive redesign efforts. Cognichip's interoperable ACI® solution eliminates this friction, enabling seamless scaling, reducing supply chain risks, and allowing companies to plan for future growth with greater agility. "The semiconductor industry is at a critical inflection point, with traditional design methods becoming increasingly unsustainable amid escalating costs and a looming talent shortage. What excites us is how Cognichip is fundamentally transforming the economics and speed of semiconductor design through their Artificial Chip Intelligence," said Navin Chaddha, Managing Partner at Mayfield. "We are excited to partner with Faraj Aalaei and the Cognichip team as they democratize access to semiconductor innovation and build something truly revolutionary that will power tomorrow's AI infrastructure." "Cognichip is introducing a new scaling factor for semiconductors: intelligence. By embedding AI deep into the physics of chip design, they are accelerating innovation in a way that traditional scaling could never achieve, said Shahin Farshchi, Partner at Lux Capital. "We believe Cognichip's approach will reshape the foundation of the semiconductor industry for decades to come." "Collapsing the traditional barriers of chip design is not only a turning point for the semiconductor industry; it stands to benefit the entire global technology economy," said Pegah Ebrahimi Co-Founder and Managing Partner at FPV Ventures. "Silicon Valley was put on the map because of the semi companies that were born here, and I'm thrilled to back a team of exceptional veterans reshaping yet again the future of semiconductor design by making advanced compute solutions more accessible to any player. Cognichip will accelerate breakthroughs across AI, energy, healthcare, and every industry where progress depends on smarter, cheaper, more efficient hardware." To learn more about Cognichip or to join their mission, visit About Cognichip Cognichip is developing the world's first Artificial Chip Intelligence (ACI®) to reimagine chip design. Founded by experts from Amazon, Google, Apple, Aquantia, Synopsys, and KLA, the company tackles high cost and inaccessibility in chip development, enabling hardware to evolve as quickly as software innovation. Backed by $33 million in seed funding from Mayfield, Lux Capital, FPV, and Candou Ventures, Cognichip's ACI® reduces design cycles by 50%, cuts development costs by 75%, and optimizes power, performance, and efficiency. ACI® accelerates innovation and broadens access to semiconductor technology by making it easier, more affordable, and accessible to a broader range of innovators. Learn more at View source version on Contacts Media Contact: Rick LieblingVSC on behalf of Cognichiprickl@
