One of the world’s most prominent technology investors is considering taking a stake in a British artificial intelligence (AI) start-up which builds automated digital workers.
Sky News understands that Andreessen Horowitz – commonly known as A16Z – is targeting an investment in 11xAI, which launched last year.
A16Z backed companies including Airbnb and Facebook when they were in their infancy and has become arguably the best-known investor in early-stage companies globally.
Money latest: New M&S strategy becomes clear
Earlier this year, it raised more than $7bn to invest in tech start-ups, with a particular focus on AI-enabled businesses.
The fund was enormous by the standards of the venture capital industry, underlining A16Z’s clout at attracting money from pension and endowment funds, as well as other investors.
11xAI launched with an automated sales representative it called ‘Alice’, and said it would unveil ‘James’ and ‘Bob’ – focused on talent acquisition and human resources – in due course.
It raised a $2m seed funding round last autumn that was led by Project A Ventures.
The company also reportedly raised money from the scout funds of Accel and Sequoia, among others.
Read more from Sky News:
Second-class letter deliveries face curbs
Water company bosses face prison under sewage spill crackdown
New UK car sales fall as Europe’s manufacturers feel strain from weak demand
It was unclear on Thursday whether 11xAI was engaged in a broader funding round than the discussions with A16Z.
A16Z did not respond to a request for comment, while 11xAI could not be reached for comment.
Get Nadine White's Race Report newsletter for a fresh perspective on the week's newsGet our free newsletter from The Independent's Race CorrespondentGet our fre
In a determined effort to retain Nissan’s manufacturing presence in Britain, Business Secretary Jonathan Reynolds has vowed to implement “substantial c
Business and Trade Secretary Jonathan Reynolds today (Friday 7 March) met chiefs for Fujitsu in Tokyo to begin talks over the cost of redress for victims of th
UK foreign secretary David Lammy has said that a new multilateral fund will be needed to secure Europe’s defence as he confirmed that Britain is “open to”