Allen Institute for AI's Incubator expands with $10M fund from high-profile VCs – TechCrunch

The Allen Institute for AI (AI2) started its incubator up two years ago, helping launch companies like Xnor.ai, Blue Canoe, and WellSaidLabs. Their success has attracted funding from not just local Seattle VC outfit Madrona, but Sequoia, Kleiner Perkins, and Two Sigma as well, resulting in a new $10M fund that should help keep the lights on. The AI2 Incubator, led by Jacob Colker since its inception in 2017, has focused on launching a handful of companies every year that in some way leverage a serious AI advantage. Blue Canoe, for instance, does natural language processing with a focus on accent modification; Xnor.ai is working on ultra-low-power implementations of machine learning algorithms, and was just acquired yesterday by Apple for a reported $200M. Apple buys edge-based AI startup Xnor.ai for a reported $200M "We think the next generation of so called AI-first companies are going to have to graduate into building long term, successful businesses that start with an AI edge," said the program's new managing director, Bryan Hale.