Parag Agrawal, who formerly held the position of Twitter's CEO until Elon Musk assumed control in late 2022, recently secured approximately $30 million in funding for his undisclosed artificial intelligence (AI) startup.
The startup remains tight-lipped about its name and specific product offerings but is known to be focusing on software aimed at aiding large language model developers and their clientele.
According to The Information, Khosla Ventures, an early supporter of OpenAI, spearheaded the funding round for Agrawal's AI initiative. Joining them were two other prominent venture firms, Index Ventures and First Round Capital.
The surge in popularity of large language models, exemplified by platforms like OpenAI's ChatGPT, has driven interest in Agrawal's startup, which seeks to leverage this burgeoning trend.
Agrawal, having steered Twitter (now X) as CEO from 2021 to 2022, brings a wealth of experience to his latest AI endeavour. His journey at Twitter commenced in 2011, eventually leading to his appointment as CEO after Jack Dorsey, the founder, and then-CEO of Twitter, stepped down in November 2021.
Previously, Agrawal held the role of Chief Technology Officer (CTO) at the social media giant, where he significantly contributed to the company's technical strategy and spearheaded advancements in AI and machine learning implementations.