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Parag Agrawal raises $30 million for new AI startup
The Agrawal-led startup will focus on developing software tailored to developers working with large language models
Parag Agrawal / Image - LinkedIn @ParagAgrawal
Indian-origin Parag Agrawal, formerly the CEO of Twitter has ventured into the field of artificial intelligence and raised around US$30 million in funding for his new AI startup.
According to a report by The Information Khosla Ventures, an early advocate of OpenAI, took the lead in the funding round for Agrawal's AI venture. Two other notable venture firms, Index Ventures and First Round Capital, also joined in the funding.
While the name and other specific details of the venture remain undisclosed, reports suggest that the Agrawal-led startup will focus on developing software tailored to developers working with large language models. Agrawal's entry into the AI domain reflects a broader trend among technology leaders capitalizing on the growing significance of this field.
Agarwal was terminated from his position as CEO of Twitter shortly after Elon Musk assuming control of the social media platform, and rebranded it as X. Musk acquired the social media platform for US$44 billion in 2022.
Agrawal made history as the first Indian-origin CEO of Twitter, assuming the position in November 2021. An alumnus of IIT Bombay and Stanford, Agrawal joined Twitter in 2011 when the company had fewer than 1,000 employees.
He advanced to the role of chief technology officer (CTO) at the social media platform in 2017. At the age of 39, he became one of the youngest executives to lead a major technology company.
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