A little over a year ago, Matan Grinberg was studying string theory for his physics Ph.D. Now, he’s a dropout with an AI startup valued at more than $100 million by investors such as Sequoia Capital.
Grinberg is set to announce Tuesday that he has raised $15 million from Sequoia and other investors for Factory, a startup using AI to help businesses streamline coding tasks. To date, Factory has raised a total of $20 million, with other backers including Lux Capital and the chief executive officers of Hugging Face and Databricks Inc., as well as Los Angeles musical duo the Chainsmokers, through