Paradigm raises $1.2 billion fund for AI and robotics
The post Paradigm raises $1.2 billion fund for AI and robotics appeared on BitcoinEthereumNews.com. Top crypto VC firm, Paradigm, has finalized a $1.2 billion fund to back AI and robotics startups. This will be the very first time the venture firm will move beyond digital assets since it launched in 2018. The firm stated that the move does not mean it has ceased its crypto operations, however, it shows investors where the industry’s biggest checkbooks are currently facing. The AI fund arrives as money floods into AI while crypto activities reduce, with fewer rounds absorbing most of the capital. “Crypto was the first frontier for us, and it continues to be a really exciting one, but there’s so much else happening right now that’s pretty hard to ignore,” managing partner Alana Palmedo told Bloomberg. Paradigm already spending AI fund Two of Paradigm’s early interests using the new fund are companies totally away from crypto. They include Zipline International, an autonomous drone deliv