Google Launches AI Futures Fund to Back AI Startups

Google has announced the launch of its AI Futures Fund, an initiative designed to invest in startups building with Google DeepMind’s latest AI tools. This move underscores Google’s commitment to fostering innovation in the AI space and supporting the next generation of AI-driven companies.

The AI Futures Fund will support startups from seed to late stage, providing various levels of assistance. This includes early access to Google AI models from DeepMind, opportunities to collaborate with Google experts from DeepMind and Google Labs, and Google Cloud credits. Select startups may also receive direct investment from Google.

According to a Google spokesperson, the AI Futures Fund operates on a rolling basis, without fixed application windows or deadlines. The fund considers opportunities as they arise, focusing on companies that align with its core thesis. While a specific fund size hasn’t been disclosed, investments will vary based on the company’s stage and needs, typically targeting early to mid-stage ventures, with flexibility for later-stage opportunities.

The AI Futures Fund has already supported startups like Viggle, a meme-making platform, and Toonsutra, a webtoon app. These examples highlight the fund’s diverse interests within the AI landscape.

Startups can apply to the AI Futures Fund starting May 12 through the application portal at https://labs.google/aifuturesfund.

This initiative is part of Google’s broader commitment to supporting AI talent and scientific advancements. In November, Google.org committed $20 million to researchers and scientists using AI for scientific breakthroughs. Previously, Google CEO Sundar Pichai announced a $120 million Global AI Opportunity fund to expand AI education and training worldwide. Google.org has also launched a $20 million generative AI accelerator program for nonprofits developing AI tech.

Google’s Google for Startups Founders Funds also supports founders across various industries, including AI. This year, the fund will begin investing in AI-focused startups in the U.S., with more details to be announced.