According to the companies, Coatue led a new investment round for AI firm Nomic that brought in $17 million.

The investment valued Nomic AI, a four-person team based in New York, at $100 million, demonstrating VCs’ persistent willingness to back startups with small teams developing successful AI products. Betaworks Ventures and Contrary Capital also invested in the round.

Since its founding in 2022, Nomic has produced two products, one of which is GPT4ALL, an open-source AI model that can be downloaded for free and used on computers like laptops. Additionally, it offers an Atlas tool that enables users to view the unstructured datasets that are used to create large language models (LLM).

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