Who is betting on what in AI, and against whom.
Camp exposure
Labs backed
CartesiaState-space models (the Mamba line) in production, sold as real-time voice.
Chai DiscoveryMolecular structure models; $3.8B after four rounds.
PI
Physical IntelligenceVLA architecture from camp 1, RL philosophy from camp 4.
Rounds
| Date | Lab | Camp | Amount | Kind | Valuation | Role | Source |
|---|---|---|---|---|---|---|---|
| Jul 2026 | Chai Discovery | Physics AI | $400M | Series C | $3.8B post-money | led | Chai Discovery |
| Nov 2025 | Physical Intelligence | Physical AI | $600M | Series B | $5.6B post-money | joined | Bloomberg |
| Mar 2025 | Cartesia | Other substrates | $64M | Series A | joined | Cartesia | |
| Dec 2024 | Cartesia | Other substrates | $22M | seed | led | Index Ventures | |
| Apr 2023 | Covariant | $75M | Series C extension | joined | TechCrunch |