Search startup Genspark raised $100 million in a Series A funding round.
The mentioned information was published by the media with reference to insiders who were aware of the mentioned fundraising. The journalists’ informants also note that according to the results of the financing round, the startup’s market capitalization reached $530 million.
It is worth noting that the artificial intelligence race has several forms of implementation, one of which is aimed at weakening Google’s position in the search engine market, and this process has recently been demonstrating intensification.
Genspark, based in Palo Alto, currently has over 2 million monthly active users. The startup’s funding round was led by a group of United States and Singapore-based investors. This was reported by the media, citing insiders.
In June 2024, Genspark raised $60 million as part of the seed round. Its chief executive officer Eric Jing led Baidu’s AI-powered smartphone and smart speaker Xiaodu unit.
Genspark is one of the startups aiming to uproot the search engine market, which is currently dominated by Google. Search results generated by artificial intelligence can contain a single response with citations, which is potentially a more user-friendly format compared to traditional link lists.
It is worth noting that Google is experimenting with AI search results. Moreover, OpenAI has integrated internet search capabilities into ChatGPT.
Currently, one of the largest players in the area of artificial intelligence-based Internet search is Perplexity AI, which has a market capitalization of $9 billion.
Genspark posted a message on its blog, which contains information that the startup has developed a feature that allows consumers to use multiple machine intelligence models that interact with each other to conduct in-depth research online. It’s worth noting that similar virtual products were released by OpenAI, Perplexity, and You.com. Likely, artificial intelligence will eventually be integrated throughout search engines.
As we have reported earlier, Luminance Raises $75 Million.
