Former Twitter CEO Parag Agrawal Raises 30 Million Dollars For His New AI Venture

New Delhi: Former CEO of X (formerly Twitter) has recently secured approximately 30 million in funding for his undisclosed artificial intelligence (AI) startup, reportedly.

An early backer of OpenAI, Khosla Ventures, led the funding in Mr. Agrawal's company, which hasn’t been publicly disclosed. Additionally, two other companies, Index Ventures and First Round Capital, played a crucial role in the deal. However, the startup remains tight-lipped about its name and specific product.

It is suggested that CEO Parag Agrawal is building an AI company to focus on software tailored for language models (LLM) developers and consumers of the tech as well. Large language models, like OpenAI's ChatGPT, have been gaining attention in recent years among tech-savvy individuals.

Parag Agrawal joined Twitter back in 2011 and was elevated to the post of CEO after Twitter founder and CEO Jack Dorsey stepped down in November 2021. In the past, Agrawal was the Chief Technology Officer (CTO) for the social media firm.

Being in the role of CTO, he played a vital role in the company's technical strategy, advancing AI, and implementing machine learning.