All posts tagged: 1.6B

Stability AI unveils smaller, more efficient 1.6B language model as part of ongoing innovation

Stability AI unveils smaller, more efficient 1.6B language model as part of ongoing innovation

Size certainly matters when it comes to large language models (LLMs) as it impacts where a model can run. Stability AI, the vendor that is perhaps best known for its stable diffusion text to image generative AI technology, today released one of its smallest models yet, with the debut of  Stable LM 2 1.6B.  Stable LM is a text content generation LLM that Stability AI first launched in April 2023 with both 3 billion and 7 billion parameter models. The new StableLM model is actually the second model released in 2024 by Stability AI, following the company’s Stable Code 3B launched earlier this week. The new compact yet powerful Stable LM model aims to lower barriers and enable more developers to participate in the generative AI ecosystem incorporating multilingual data in seven languages – English, Spanish, German, Italian, French, Portuguese, and Dutch. The model utilizes recent algorithmic advancements in language modeling to strike what Stability AI hopes is an optimal balance between speed and performance.  “In general, larger models trained on similar data with a …

Solaris raises M at a flat .6B valuation to expand in embedded finance after a rough 2022

Solaris raises $42M at a flat $1.6B valuation to expand in embedded finance after a rough 2022

Solaris — the German fintech that, when it was known as Solarisbank, raised hundreds of millions of dollars to build out its embedded finance platform — is today announcing more funding. The company, used by the likes of Samsung, American Express and Coinbase to provide various financial services to their customers, has picked up €38 million ($41.8 million), money that it will be using to scale up its banking-as-a-service business. That business today covers some 180 different APIs across categories like banking and card services, payments, lending, ID verification and digital currencies. Solaris describes the funding as the first close of its Series F. It declined to say who the specific backers were in this round beyond the fact that it was an inside round (ie, all are existing investors); nor did Solaris disclose how much it would like to raise in total; how those conversations are going; and the timing for the final close. We understand, though, that the funding is coming in at a valuation of about $1.6 billion — flat with Solaris’s …

Insurtech bolttech gets 6M at .6B valuation from investors like MetLife

Insurtech bolttech gets $196M at $1.6B valuation from investors like MetLife

Embedded insurtech is still hot, as the $196 million in funding landed by bolttech proves. The company, which started in Singapore but now has operations around the world, said it is now valued at $1.6 billion. The funding was led by Tokio Marine, Japan’s first insurance company, and life insurance leader MetLife through its subsidiary MetLife Next Gen Ventures. Other participants included new and existing shareholders, and Malaysia’s sovereign wealth fund Khazanah Nasional. Bolttech earlier announced that Tokio Marine will lead its Series B funding round, which then valued the company at an up-round valuation of $1.5 billion. Group CEO Rob Schimek said the current funding is part of the same round. “Bolttech’s Series B is closed to new interest from the market, but we continue to engage with the investor community in case of future opportunities,” he told TechCrunch. Founded three years ago, bolttech says its Series B funding is the largest straight equity Series B for an insurtech in the last year, and that its Series A round, announced in 2021, was also …

Observability platform Chronosphere raises another 5M at a .6B valuation

Observability platform Chronosphere raises another $115M at a $1.6B valuation

The market for cloud native observability tools remains hot. As with so many new technologies, containerization solved a fair number of problems but also introduced its share of new ones, including a lot of added complexity that is, in part, driven by the dynamic nature of this architecture. That’s both its strength and downfall, so it’s maybe no surprise that tools for monitoring these systems are so important — and well-funded. Chronosphere, which had already raised $228 million, including a $200 million Series C round at a $1 billion valuation last year, today announced that it extended this Series C round by another $115 million from new investors GV and Geodesic Capital. The company’s new valuation is $1.6 million. Existing investors Addition, Founders Fund, General Atlantic, Greylock, Glynn Capital and Lux Capital also participated in this round, which The Information first reported earlier this month. The company says its current list of users includes the likes of DoorDash, Zillow and Visa, with Robinhood, Obsidian Security and Astronomer also now using its service. Last September, the …