Inside OpenAI’s Startup Empire: A Look at Its Venture Fund Investments

Since launching in 2021, the OpenAI Startup Fund has raised $175 million for its main fund and an additional $114 million across five special purpose vehicles (SPVs). Unlike other tech giants, OpenAI states that these investments come from outside investors, including major backer Microsoft and "other OpenAI partners."

The fund, managed independently, has backed over a dozen startups across various industries, from AI-driven healthcare and robotics to edtech and autonomous systems. Here’s a closer look at some of the key companies OpenAI’s fund has invested in.

Major Investments by the OpenAI Startup Fund

AI & Robotics

• Figure AI – Raised $675M Series B in Feb 2024, with backing from OpenAI, Microsoft, and Nvidia. The humanoid robotics startup is now seeking $1.5B at a $39.5B valuation.
• 1X – Norwegian humanoid robot startup secured $23.5M in early 2023, though OpenAI was not listed in its later $100M Series B.
• Physical Intelligence – Raised $70M seed round in March 2023, followed by a $400M Series A with Jeff Bezos, Lux Capital, and Sequoia as key backers.

AI in Healthcare & Legal Tech

• Ambience Healthcare – AI-powered medical note-taking tool raised $70M Series B in Feb 2024, co-led by OpenAI’s fund.
• Harvey AI – AI-powered legal tech startup raised $21M Series A in 2023, followed by a $300M Series D in 2024, valuing it at $3B.

AI Productivity & Assistants

• Milo – Developing an AI assistant for parents, with pre-seed and seed funding from OpenAI.
• Mem – AI-powered note-taking startup secured $23.5M Series A in 2022, but no further reported funding rounds.
• Descript – Raised $50M Series C in late 2022, making OpenAI a key backer of its AI-powered video and audio editing platform.

AI in Education & Language Learning

• Class Companion – Raised $4M seed round to help teachers provide AI-powered feedback.
• Speak – AI-driven language learning platform raised $27M Series B in Nov 2022, followed by a $78M Series C, valuing the company at $1B.
• Heeyo – AI chatbot for kids secured $3.5M from OpenAI’s fund in Aug 2023.

Enterprise AI & Automation

• Kick – Raised $9M seed round in Oct 2023 to develop AI agents for automating bookkeeping.
• Unify – Sales technology startup backed by OpenAI, securing $19M across seed and Series A rounds.
• Chai Discovery – Raised $30M seed round in 2023, building an open-source AI foundational model for drug discovery.

Mixed Results & Missed Bets

Not all investments have been success stories. Ghost Autonomy, an AI-driven autonomous driving software startup, secured $55M Series E in 2023, with OpenAI contributing $5M—but the company shut down a year later.

What’s Next?

The OpenAI Startup Fund continues to expand its portfolio, investing in AI-driven solutions across healthcare, robotics, education, and automation. Some of its biggest bets, like Figure AI and Harvey AI, have rapidly scaled, while others, like Ghost Autonomy, have struggled.

As OpenAI’s influence grows, its venture arm is shaping the next generation of AI startups—backing companies that could define the future of AI-powered industries.