Tokyo-based AI startup Sakana AI has raised $100 million in a Series A round backed by US chipmaker Nvidia, while Stephenson Harwood has launched a programme to provide legal support to investors and early-stage tech companies.
Nvidia backs Tokyo-based Sakana AI’s $100m Series A
Tokyo-based Sakana AI has announced raising $100 million in its Series A funding round backed by US chipmaker Nvidia.
The funding round for the AI startup, which was co-founded by former Google researchers, was also participated by New Enterprise Associates, Khosla Ventures, and Lux Capital, per the announcement.
The company does not yet have any products in the market but said it will collaborate with Nvidia, the largest contributor in the funding round, on research, infrastructure, and AI community development in Japan.
Sakana AI, which focuses on nature-inspired intelligence and foundation models, aims to advance AI research with an emphasis on evolutionary optimisation and sparsity.
In January, the startup raised about $35 million from NTT Group, Sony Group, Khosla Ventures, and others.
“The current AI talent landscape in Japan is technically limited compared with those found in leading cities in China and the US. However, this relationship offers possibilities to change that,” Sakana AI said.
Stephenson Harwood launches legal support programme
International law firm Stephenson Harwood LLP has announced the launch of a programme to provide legal support to investors and early-stage technology companies across South and Southeast Asia.
The Startup Technology Emerging Companies Programme (STEP) will be spearheaded by the firm’s team in Singapore.
“STEP shall facilitate our delivery of client-focused and pragmatic legal advice to new-age start-ups and investors in the technology sector,” said Tom Platts, head of M&A for Southeast Asia, Stephenson Harwood.
Singapore-based VC investor and entrepreneur Field Pickering will help shape the programme and the firm’s wider commitment to the sector. “I look forward to working with the Stephenson Harwood team who understand the complexities and nuances involved with supporting emerging companies from start to finish to complete their strategic transactions,” said Pickering, who is also a managing partner at Vulpes Ventures.
Ming Hui Gan, a lawyer in the firm’s Southeast Asia cross-border M&A and private equity practice, will co-lead the programme. Among other things, Ming Hui advises businesses and investors on all aspects of their M&A activity and provides legal advice at all levels of the investment spectrum.
London-based Stephenson Harwood has eight offices across Asia, Europe, and the Middle East.