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DeepMind Alumni Raise $200 Million Round for Holistic AI

Round Split Between Equity and Convertible Debt, Sources Say, As the Startup Wants to Develop AI with Memory and Decision-Making

Holistic AI, a new startup in Paris working to leapfrog other generative AI models, has closed the first tranche of a $200 million initial financing round, according to people familiar with the deal.

Investors agreed to put in $80 million in equity and $120 million in convertible debt, chiefly for buying computing power, said the people who asked not to be identified because the details aren’t yet public. They said the founding round values the company at $370 million.

The startup, formed by a group of scientists who recently left DeepMind, Google’s artificial intelligence lab, has audacious aims. It’s working to develop “multi-agent” models, a process where a number of AI systems interact with one another. The deal for the months-old startup marks continued intense interest in companies pushing forward in AI, with investors willing to take a bet on founding teams based on their employment history as much as their proposed product.