Sunday, July 21, 2024
HomeNewsHugging Face Fresh VC Funds to Value Company at $4 Billion 

Hugging Face Fresh VC Funds to Value Company at $4 Billion 

The company had attained a $2 billion valuation a year ago despite taking in less than $10 million in revenue in 2021.

A new fundraising round for Hugging Face is projected to value the thriving AI company at $4 billion, according to numerous sources with knowledge of the situation.

According to two sources, the Series D investment round should bring in at least $200 million, with Ashton Kutcher’s venture capital firm, Sound Ventures, presently in charge of the investor scrum. However, co-founder and CEO Clément Delangue is looking around as the business has received several proposals this week, according to four additional sources.

Another source stated that Delangue would likely select a preferred offer by Friday but cautioned that the situation was still in flux and that the specific figures might change. 

Read More: Vimeo Introduces AI-Powered Script Generator And Text-Based Video Editor

Other sources claimed that Hugging Face might try to raise additional funds, up to $300 million, while current investors might yet make a last-minute offer to acquire the round. One source also mentioned that DFJ and GV, the venture capital group funded by Alphabet, were reportedly considering the financing.

Hugging Face raised $100 million in a Series C investment headed by Lux Capital a little more than a year ago. Coatue and Sequoia were new investors in that round and joined A.Capital Ventures and Addition. The company had reached a $2 billion valuation in that round despite having lessthan $10 million in revenue in 2021. 

Subscribe to our newsletter

Subscribe and never miss out on such trending AI-related articles.

We will never sell your data

Join our WhatsApp Channel and Discord Server to be a part of an engaging community.

Sahil Pawar
Sahil Pawar
I am a graduate with a bachelor's degree in statistics, mathematics, and physics. I have been working as a content writer for almost 3 years and have written for a plethora of domains. Besides, I have a vested interest in fashion and music.


Please enter your comment!
Please enter your name here

Most Popular