Why AI agent startup /dev/agents commanded a massive $56M seed round at a $500M valuation

by | Nov 28, 2024 | Technology

Many startups and large tech companies are building AI agents or programs that can handle multi-step tasks without user supervision. Once available, these agents will need to collaborate with each other to complete complex jobs, such as booking and paying for flights, hotels, and excursions.

/dev/agents, a new company started by former Google executives who helped develop Android during the early days of the smartphone era, believes a new operating system is needed to fully realize the potential of AI agents.

“Before Android existed, we could all see the promise of mobile, but as a developer, it was just too hard to build anything on mobile,” said David Singleton, the company’s co-founder and CEO (pictured above). “We’re seeing the same thing again. We can see the promise of AI, but as a developer, it’s just really hard to build anything good.”

Prior to launching /dev/agents, Singleton was the CTO of Stripe, and before that, he led AndroidWear at Google. With /dev/agents, he argues that developers currently don’t have standard tools and systems on top of which to build AI agents, and hopes to fill that gap by creating a unified platform that can be the operating system of the AI world.

The company says its cloud-based operating system will work across devices, and using generative AI, will present personalized user interfaces.

“What we’re trying to do here is similar to what we did with Android,” Singleton said.

If that sounds promising to you, /dev/agents’ investors might agree.

This week, the company said it has raised a $56 million seed round led by Index Ventures and co-led by Alphabet’s independent growth fund, CapitalG, with participation from Conviction Capital, a venture firm founded by Sarah Guo. A number of prominent tech leaders, including OpenAI co-founder Andrej Karpathy, Scale AI CEO Alexander Wang …

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