Reka AI builds large language models (LLMs), the core technology behind generative AI. The company claims to be able to develop such models more efficiently than its competitors. The startup was founded in 2022 by former researchers at Google (an Alphabet Inc. company) and Meta Platforms Inc.
According to PitchBook, Reka’s previous valuation was around $300 million at the time of the 2023 round.
Interest in the company has grown amid the hype surrounding AI startups, with venture capitalists and large tech corporations actively competing for promising projects. Snowflake previously held talks to acquire Reka AI, but the deal fell through. According to Reka CEO Dana Yogatami, “both companies decided it would be smarter to develop independently,” although the collaboration continues.
The company is engaged in the creation of foundation models of the next generation of AI, as well as developing tools for business: interfaces, application logic and other enterprise solutions. Since its founding, the number of employees has grown from 20 to 50 people – the company’s focus is on accelerating product release.
Snowflake is an American cloud platform for data storage and analysis. According to Vivek Raghunathan, vice president of AI development, the company plans to offer Reka models and products to its customers.
“There are very few teams in the world that can create what Reka does. Typically, specialists of this level work at OpenAI, Meta, or Anthropic. Reka is one of the few independent players, and they have proven that they can compete,” Raghunathan emphasized.
Nvidia Corp. is a leading manufacturer of graphics processing units (GPUs) and one of the main beneficiaries of the artificial intelligence boom.
Source: Bloomberg