Tech Revolt

AI Startups

Genspark secures $60 million in seed funding

Genspark secures $60 million in seed funding
  • PublishedOctober 2, 2024

Genspark has raised $60 million in an oversized seed funding round, positioning itself as a formidable challenger to Google’s search market dominance.

Genspark is an AI search startup founded by former Baidu executives. The funding was led by Singapore-based Lanchi Ventures and values the startup at $260 million despite its current lack of revenue.

Genspark’s innovative search engine employs various AI model providers to index and summarise information, uniquely generating customised pages for each query to deliver comprehensive results on a single page.

Eric Jing, CEO of Genspark and former leader of Baidu’s Xiaodu unit, oversees a team of 20 split between Palo Alto and Singapore, with plans to expand to a new office in Seattle. Jing’s leadership reflects his extensive experience in AI-driven technologies.

Lanchi Ventures, formerly known as BlueRun Ventures China, rebranded last year to distinguish itself from its Silicon Valley origins. This investment marks a significant milestone for Genspark as it prepares to compete with established giants in the search industry.

Genspark’s approach leverages multiple specialised AI agents to enhance search capabilities, aiming to provide users with more relevant and useful search results efficiently. The ambitious startup’s goal is to redefine search engine functionality and user experience through cutting-edge AI technology. By focusing on innovative solutions and expanding its global footprint, Genspark aims to capture a significant share of the market and challenge the status quo established by industry leaders like Google.

Written By
Admin

Leave a Reply

Your email address will not be published. Required fields are marked *