Tech startup Golden announced Wednesday, September 30, 2020, that it has successfully raised $14.5 million in its Series A investment round. The company is reportedly planning to create an extensive database similar to Wikipedia by leveraging artificial intelligence (AI) capabilities.
The Series A funding round was led by the previous investor Andreessen Horowitz from a16z. Apart from Horowitz, a16z co-founder Marc Andreessen will also take a seat on Golden’s board of directors, reports Tech Crunch.
Besides Horowitz, other investors also participated in the Series A investment round. These include DCVC, Gigafund, and Harpoon Ventures notes Crunchbase News. As of writing, the tech startup has now raised $19.5 million.
Launched in 2019, the startup company is founded by current chief executive officer Jude Gomila. The firm aims to build a database of knowledge designed to address the lack of information in Wikipedia’s current operations.
In particular, the firm plans to fill in the gaps and blind spots in Wikipedia and the information they provide with regard to startup companies and other emerging technologies in the field.
To help fill in these blanks, Golden reportedly plans to use artificial intelligence technology as well as natural language processing to gather more data. In a statement, Gomila said, “We’re using AI to extract information from the news, from websites, from public databases,” instead of using community editors similar to what Wikipedia already does.
Gomila added, “The big vision is we’re trying to build a big database of knowledge and this is across everything eventually.” However, as of the time being, the company plans to focus on tech companies, science, and technology.
According to Tech Crunch, Golden’s Wiki-style database of technological knowledge makes it a great competitor against already existing firms that cater to the public’s needs and information. Apart from Wikipedia, the news site maintains that Golden could be a competitor to Crunchbase.
Unlike Crunchbase, Golden’s technology-based focus would touch on relevant topics in the field today, including the virus pandemic prevalent in the world, COVID-19, and quantum computing.
Among its current list of clients include the United States Air Force who signed a $1 million deal with the tech company. Its partnership with the U.S. Air Force is focused on helping provide more immediate response to COVID-19, notes Crunchbase News.
Following its cash injection, Crunchbase News states Golden’s Series A investment funding will be allocated to expanding its team and operations. It currently operates with a team of 15 employees and plans to increase the total number of employees to 30.
