Magic Leap Founder Makes a Comeback! New Company SynthBee Secures $20 Million in Funding for Computational Intelligence

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Published inAI News · 4 min read · Oct 17, 2024

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Recently, Rony Abovitz, the founder of Magic Leap, has once again captured the public's attention. His new company, SynthBee, has just completed a $20 million funding round. Located in Fort Lauderdale, Florida—the same place where Magic Leap rose to prominence and sparked hopes for mixed reality computing—SynthBee aims to expand its team and advance its unique computational intelligence platform with the funds raised.

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This funding round was led by Crosspoint Capital Partners. Andre Feith, Managing Director at Crosspoint Capital, expressed in a statement that they are thrilled to partner with a serial entrepreneur like Rony Abovitz. He believes that SynthBee has the potential to revolutionize the way businesses innovate and approach high-value market solutions.

Abovitz has a rich history of entrepreneurship. His previous venture, Mako Surgical, was acquired by Stryker Corporation for $1.65 billion, and Magic Leap was a pioneer in spatial computing. Mako's intelligent computing system successfully transformed complex surgical environments, significantly improving the lives of millions of patients.

SynthBee aims to drive innovation across industries safely through its new computational intelligence platform. Abovitz mentioned in a statement that current large-scale AI systems face significant challenges in architecture, security, and ethics, often leading to undesirable governance and computational centralization. Therefore, he founded SynthBee with the intention of addressing these issues, paving new paths for enterprise clients, developer communities, and even broader audiences, advocating for the concept of computational democracy.

Currently, SynthBee has established commercial partnerships with some Fortune 500 companies and is actively recruiting top tech talent. Abovitz stated that their goal is to build a secure, scalable, and reliable computational intelligence platform to further amplify and accelerate human innovation capabilities.

Key Points:

🌟 Rony Abovitz's new company, SynthBee, has secured $20 million in funding to drive the development of its computational intelligence platform.

🚀 The company aims to address the architectural, security, and ethical issues of existing large-scale AI systems, advocating for computational democracy.

💼 SynthBee has already partnered with Fortune 500 companies and is actively recruiting tech talent.

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