World model maker Odyssey nabs $1.45B valuation backed by Amazon and other big names
World models are the next big thing in AI beyond LLMs and, with this round, Odyssey has cemented itself as one of the startups to watch.
Odyssey, a world model AI startup founded by self-driving vehicle pioneers CEO Oliver Cameron and CTO Jeff Hawke, has raised a $310 million Series B round at a $1.45B valuation led by Natural Capital, with Amazon, AMD Ventures, GV, and others participating.
World models are the next big thing in AI beyond text- and chat-based large language models. They gather data from the physical world and simulate it with accurate physics. In Odyssey’s case, it has mimicked how Google Earth gathered data; the startup sent people out with cameras strapped to their backs . (Google drives camera-equipped cars around.)
That approach makes sense given the backgrounds of the founders. Cameron was the co-founder and CEO of autonomous vehicle startup Voyage, which was acquired by GM’s Cruise , where he later became VP of product; Hawke was an engineer at buzzy U.K. self-driving startup Wayve.
Odyssey, founded in 2023, now offers a handful of world models for a variety of use cases, from video-game creation to robotics. It is perhaps best known for producing rich, interactive video from text prompts.
With the backing from Amazon, the startup says AWS is now its preferred cloud provider and it will optimize its models to run on AWS’s Trainium chips, a competitor to Nvidia’s AI chips.
In addition to the VCs that participated in this unicorn-crowning round, Odyssey has corralled an impressive list of angel investors as well. These include Jeff Dean, Elad Gil, Garry Tan, Guillermo Rauch, and Cruise founder Kyle Vogt. The company has now raised $337 million to date.
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In Brief World model maker Odyssey nabs $1.45B valuation backed by Amazon and other big names Julie Bort 9 hours ago
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Key takeaways
- Odyssey's valuation highlights the potential of world models in AI, opening opportunities for Brazilian startups.
- The partnership with AWS may encourage cloud service adoption in Brazil, fostering a more robust ecosystem.
- The involvement of renowned angel investors underscores the importance of networking and human capital for startup success.
Editorial analysis
The $1.45 billion valuation of Odyssey, backed by heavyweights like Amazon and AMD, signals a growing interest in world models, an area that promises to revolutionize how we interact with artificial intelligence. For the Brazilian tech sector, this trend could open doors for local startups looking to develop innovative solutions based on real-world simulations. With the founders' experience in autonomous vehicles, Odyssey could serve as a success case that inspires Brazilian entrepreneurs to explore practical AI applications in sectors like mobility and entertainment.
Moreover, the partnership with AWS highlights the importance of cloud infrastructure in AI model development. For Brazil, where cloud service adoption is still growing, this collaboration could encourage companies to embrace similar technologies, fostering a more robust ecosystem for AI innovation. Odyssey's choice to optimize its models for Trainium chips, rather than relying solely on Nvidia, may also stimulate discussions about diversifying hardware suppliers in Brazil, where dependence on a single vendor can pose a strategic risk.
Finally, the involvement of renowned angel investors like Jeff Dean and Kyle Vogt underscores the importance of human capital and networking in the success of startups. For Brazil, this may indicate that building communities of investors and entrepreneurs is essential for fostering innovation. What to watch next is how Odyssey will scale its operations and whether it can attract more talent and investment, especially in such a competitive AI market where the speed of innovation is crucial.
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