AI startup Genspark raises $60 mn in VC funding

Genspark, an artificial intelligence search startup founded by former Baidu executives, has raised $60 million in an oversized seed funding round.

AI startup Genspark VC funding
@ BusinessJournal

The funding, led by Singapore-based Lanchi Ventures, values the pre-revenue startup at $260 million.

Genspark aims to challenge Google’s dominance in the search market. The startup’s innovative search engine uses multiple AI model providers to index and summarize information, setting itself apart by employing various specialized AI agents to create customized pages for each query. This approach aims to deliver useful results on a single page, enhancing the user experience.

Eric Jing, Genspark’s CEO, previously led Baidu’s AI-powered smartphone and smart speaker Xiaodu unit until October of last year. Jing leads a team of 20 people, split between Palo Alto and Singapore, with plans to open a new office in Seattle.

Genspark is currently focusing on the U.S. market, offering its search engine for free with potential plans to explore paid subscriptions in the future. The startup utilizes large language models, including open-source options like Meta’s Llama and OpenAI’s GPT models, to perform diverse tasks.

Rivals such as You.com are reportedly close to raising an additional $50 million, while Perplexity, already a unicorn, is also in talks for more funding.

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