Summary:
Infactory raises $4 million at a $25 million valuation.
Brooke Hartley Moy and Ken Kocienda are the founders, both former executives at Humane.
Infactory is an AI fact-checking search engine targeting enterprise customers.
The startup emphasizes accuracy and trustworthiness in its AI responses.
The AI market is projected to exceed $1 trillion in revenue within a decade.
New Beginnings for Former Humane Executives
Two former executives of Humane, an AI hardware startup, have embarked on a new venture called Infactory, raising $4 million in seed funding at a $25 million valuation. Brooke Hartley Moy and Ken Kocienda, who previously held key positions at Humane, left the company in May following the lukewarm reception of their AI Pin product.
What is Infactory?
Infactory is an AI fact-checking search engine designed to search within enterprise databases and the open web in a transparent and explainable manner. The startup targets enterprise customers across various industries, including finance, insurance, SaaS, healthcare, and media.
Hartley Moy, now CEO of Infactory, highlighted the business opportunities they identified while at Humane, stating, "Building this kind of product was never going to be a fit at a consumer hardware company."
The Departure from Humane
Despite the challenges at Humane, including its AI Pin's negative reviews, Hartley Moy insists their departure was not solely related to product feedback. The company is currently seeking a buyer after raising over $200 million in funding, with notable backers including Microsoft and Salesforce.
Infactory's Unique Approach
Infactory is currently in its alpha phase, working with design partners to refine its product. The AI tool emphasizes accuracy, trustworthiness, and high-quality answers—critical requirements for enterprise applications.
For instance, a doctor could use Infactory to check for potential drug interactions based on existing patient medications, ensuring reliable and sourced information.
Addressing AI Challenges
In an era where many AI chatbots are criticized for providing inaccurate or nonsensical answers, Infactory aims to eliminate the black box nature often associated with AI responses. Kocienda, the CTO, stated that their tool will not generate answers without clear data backing, thus enhancing trust in AI solutions.
The market for AI-powered tools is expected to exceed $1 trillion in revenue in the coming decade, with Infactory positioning itself as a reliable player amidst the competitive landscape of Google, Microsoft, and OpenAI.
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