Hugging Face Secures $100M to Advance Open AI Development

Hugging Face Secures $100M to Advance Open AI Development
Image Credit: Hugging Face

Hugging Face, a popular platform and community in the AI and machine learning landscape, has announced that they have raised $100 million in a Series C funding round. Led by Lux Capital, the round also witnessed significant participation from Sequoia and Coatue, among others.

The startup has seen rapid growth in recent months, emerging as the largest community and platform for machine learning. It currently boasts over 100,000 models and 10,000 datasets spanning natural language processing, computer vision, speech, time-series analysis, biology, reinforcement learning, and chemistry.

Hugging Face advocates for openness, transparency, and collaboration as key drivers of responsible and inclusive AI development. The company recently launched HuggingChat, an open-source project aiming to provide a transparent and inclusive alternative to ChatGPT.

Hugging Face's extensive platform has attracted over 10,000 companies, providing their machine learning scientists, data scientists, and machine learning engineers with valuable resources to accelerate their roadmaps and streamline processes.

With the new funding, the company says it plans to intensify research, open-source initiatives, product development, and responsible AI democratization.

Chris McKay is the founder and chief editor of Maginative. His thought leadership in AI literacy and strategic AI adoption has been recognized by top academic institutions, media, and global brands.

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