Wabi, an AI startup that lets users create small apps through prompts, said Thursday it has raised $55 million at a $1.25 billion valuation. The company, founded by Eugenia Kuyda, now describes itself as a personal agent. The round shows investors are placing bets across a crowded field of AI assistants.
Kuyda previously founded Replika, the AI companion startup. Wabi initially centered on letting anyone build apps using prompts. Last month the company announced a shift toward becoming an AI messenger, a version it called Wabi 2.0.
Under the new approach, Wabi is positioned to build the interfaces a user needs to complete tasks as a personal AI agent. According to the company, Wabi could create mini apps for meal planning, tracking local restaurants, planning date nights, building fitness plans and designing specialized trivia games, among other uses.
IVP led the new round. Alex Lim, a general partner at the firm, said Kuyda has a strong sense of where AI is heading and a record of good taste in building it. He said she has a clear vision for how people will interact with AI that extends well beyond the text box or command line, and that Wabi expresses that vision.
Other participants included Andreessen Horowitz (a16z), Forerunner and the Amazon Alexa Fund, along with angel investors. Among them were Shopify CEO Tobi Lütke, Salesforce CEO Marc Benioff, former Yahoo! head Marissa Mayer, former Twitter CEO Dick Costolo and Alex Pall, one half of The Chainsmokers.
The funding lands as investor interest in AI agents runs hot. Instinct, a viral AI agent, pulled in another billion dollars at a $10 billion valuation in September. Tolan, which makes a Muppet-like AI companion meant to help people navigate life, just raised $30 million.
For US users and investors, the round adds another well-capitalized contender to the market for personal AI assistants, a category where several startups are competing for attention and funding at high valuations.
More company and startup news from TechManNews.
