Fundamental Research Labs, an applied AI research company formerly known as Altera, has successfully secured $33 million in Series A funding, led by Prosus and supported by Patrick Collison, co-founder of Stripe. The company is exploring diverse AI applications, including a general-purpose consumer assistant called Fairies and a spreadsheet-based agent named Shortcut, designed to enhance productivity. Fairies facilitates user interactions with AI and automates scheduling tasks, while Shortcut performs financial modeling tasks as an efficient junior analyst. Founded by Dr. Robert Yang, an MIT alum, the company aims to redefine startup structures by focusing on meaningful applications of AI. Yang emphasizes that their projects are not merely prototypes; they are functional products showcasing how AI can significantly augment human capabilities in various fields. With a total of over $40 million raised, Fundamental Research Labs is poised for impact and innovation in AI technology.
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