Observed Signal · Feb 15, 2024 · Funding · Source: Trending Topics · Impact: 2/5 · Sentiment: Positive
Vienna-Founded AI Startup Magic.dev Raises $117M
Magic.dev, an AI startup founded in Vienna by Eric Steinberger and Sebastian De Ro, has raised $117 million in a new financing round, bringing its total funding to $145 million. The round is led by former GitHub CEO Nat Friedman and entrepreneur-investor Daniel Gross, with participation from Alphabet's investment arm CapitalG and investor Elad Gil. Magic is developing what it calls 'superhuman AI' and an AI coding assistant that can act as a full-fledged colleague, competing with tools such as GitHub Copilot, ChatGPT and Gemini. The company says it is working on AI models with multi-million-token context windows and has purchased thousands of GPUs to train its models. Hiring is planned at its San Francisco and Vienna offices.
Large AI infrastructure funding round, but limited direct impact on the AdTech/MarTech ecosystem.
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Key Takeaways & Evidence Grounding
- Magic.dev raised $117 million in a financing round, bringing total funding to $145 million.
- The round was led by Nat Friedman and Daniel Gross, with participation from CapitalG and Elad Gil.
- Magic.dev was founded in Vienna by Eric Steinberger and Sebastian De Ro and is now based in the United States.
- The company is developing an AI coding assistant with multi-million-token context windows.
- Magic.dev plans to hire at its San Francisco and Vienna offices and has acquired thousands of GPUs.
Connected Companies & Entities
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“Daniel Gross sold his search engine Cue to Apple in 2013....”
“Daniel Gross invested in companies such as Uber, Instacart, Coinbase, GitHub, Airtable, Figma and Notion....”
“Daniel Gross invested in companies such as Uber, Instacart, Coinbase, GitHub, Airtable, Figma and Notion....”
“Daniel Gross invested in companies such as Uber, Instacart, Coinbase, GitHub, Airtable, Figma and Notion....”
“Daniel Gross invested in companies such as Uber, Instacart, Coinbase, GitHub, Airtable, Figma and Notion....”
“Daniel Gross invested in companies such as Uber, Instacart, Coinbase, GitHub, Airtable, Figma and Notion....”
“Elad Gil invested in Airbnb, Airtable, Coinbase, Deel, Figma, Instacart, Notion, Pinterest, Square and Stripe....”
“Elad Gil invested in Airbnb, Airtable, Coinbase, Deel, Figma, Instacart, Notion, Pinterest, Square and Stripe....”
“Elad Gil invested in Airbnb, Airtable, Coinbase, Deel, Figma, Instacart, Notion, Pinterest, Square and Stripe....”
“Google is currently competing against OpenAI and Microsoft....”
“Daniel Gross invested in companies such as Uber, Instacart, Coinbase, GitHub, Airtable, Figma and Notion....”
“Google is currently competing against OpenAI and Microsoft....”
“Google is currently competing against OpenAI and Microsoft....”
Ontology Mapping & Concepts
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