SPI Generative AI: Nabla’s Funding and an Open Approach to Gen AI

Published: January 25, 2024

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Despite a tougher environment for some start-ups looking for financing, earlier this month French healthcare AI vendor Nabla raised $24m in a Series B funding round.

The round, which reportedly gives Nabla a valuation of $180m, was led by Cathay Innovation, with participation from Zebox Ventures, and according to the vendor will be used to fund the company’s expansion into the US market.

The funding will also help the vendor continue to develop its Copilot solution, with a particular focus on fine-tuning open-source models such as Meta’s (owner and operator of Facebook) Llama 2 and those from compatriot Mistral.

The vendor has already enjoyed some successes, including, notably, a large-scale partnership with Kaiser Permanente’s division Permanente Medical Group announced late last year, but will the switch to an open-source model help as the vendor strives to prove its value alongside much larger, much wealthier companies?