Covariant, a robotic picking AI, recently secured a total of $222 million in funding from a Series C extension led by Radical Ventures and Index Ventures. Pension Plan Investment Board, Amplify Partners, Gates Frontier Holdings, AIX Ventures and Northgate Capital are all new and returning investors. This influx in funds will allow the company to further develop its AI platform known as the Covariant Brain as well as explore applications across different sectors.
Covariant’s impressive AI is powered by a generator database which identifies potential package sizes, shapes and materials based on real-world selections. The ability to recognize this information quickly without much human intervention has made Covariant’s technology the go-to choice for many retailers and logistics firms. The brain can also be compared to Chat GPT which is a natural language processing system that is trained to recognize small data set within a specific use case.
Covariant was founded by four individuals with a direct connection to OpenAI, one of which is Peter Chen, Co-Founder and CEO. Peter has been vocal about his dedication to the project, noting that the Covariant Brain’s foundation model approach helps to develop the AI with a much larger data set to help it become more generalized for any type of industry.
The potential of Covariant’s AI is vast, and its success so far speaks to the potential of this type of technology to revolutionize the way industries do business. With its steady influx of funds, Covariant is sure to have an even bigger impact on the way businesses operate.
