Not content to sit on the sidelines of the generative AI race, Dropbox today launched Dropbox Ventures, a new $50 venture fund focused on startups in the AI space.
The company’s first venture arm, Dropbox Ventures will provide mentorship in addition to financial support to build AI-powered products that “shape the future of work,” Dropbox said in a press release.
VCs have steadily increased their positions in AI over the past few years, spurred recently by the growth in generative AI. According to GlobalData, AI startups received over $52 billion in funding across more than 3,300 deals in the last year alone.
Corporate initiatives are a major source of that funding. For example, Salesforce Ventures, Salesforce’s VC division, Read Entire Article
