![]() ![]() “In just the last few months, recent advancements in AI and machine learning have opened up a new world of possibilities that we think will help us accelerate … our mission to design a more enlightened way of working.” New AI-powered features “We’ve been investing in AI and machine learning for a long time and started incorporating machine learning across our products as far back as 2016 to make work more efficient for our customers’ and help them save time,” Srinivasan said. ![]() And OpenAI, the company behind the viral chatbot ChatGPT, has raised a $175 million fund to invest in AI startups. Workday recently added $250 million to its existing VC fund specifically to back AI and machine learning startups. For example, Salesforce Ventures, Salesforce’s VC division, plans to pour $500 million into startups developing generative AI technologies. According to GlobalData, AI startups received over $52 billion in funding across more than 3,300 deals in the last year alone.Ĭorporate initiatives are a major source of that funding. ![]() VCs have steadily increased their positions in AI over the past few years, spurred recently by the growth in generative AI. “Dropbox began as an early-stage startup with a simple idea that grew to a service used by hundreds of millions of people around the world, so we have a unique perspective on what it takes to help these types of companies get to the next phase of growth and make an impact.” “We want to advance the AI ecosystem and support the next generation of startups who are taking the lead in shaping the modern work experience through the power of AI,” he said. The company’s first venture arm, Dropbox Ventures will provide mentorship in addition to financial support to build AI-powered products that “shape the future of work,” Dropbox VP and GM Sateesh Srinivasan told TechCrunch in an email interview. Not content to sit on the sidelines of the generative AI race, Dropbox today launched Dropbox Ventures, a new $50 million venture fund focused on startups in the AI space. ![]()
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