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Wabi, the AI agent that builds mini apps, now valued at $1.25B after latest round

AI1 min read

Wabi, a startup that calls itself a "personal agent," has raised $55 million at a $1.25 billion valuation. The company is betting that AI helpers that build small apps for you can be a big business.

What happened

Wabi, an AI app founded by Eugenia Kuyda, raised $55 million. This values the company at $1.25 billion. Wabi first let anyone build apps by typing prompts. Last month, it changed direction and became an AI messenger, sometimes called Wabi 2.0. Now it wants to build the tools you need on the spot, as your personal AI helper.

Key numbers

  • Funding raised: $55 million
  • Company value (valuation): $1.25 billion
  • Instinct, another AI agent app, raised $1 billion at a $10 billion valuation in September
  • Tolan, an AI companion app, raised $30 million

Why investors are interested

An AI agent is a program that can carry out tasks for you, not just answer questions. Many investors now want to back these tools. Wabi's new idea is that you could ask for a small app for meal planning, finding restaurants, planning date nights, fitness plans, or trivia games, and it would build it for you.

Why it matters

This deal shows that investors are spreading their bets across many AI assistants. If Wabi's idea works, people may stop using separate apps for each task. Instead, one AI helper could make the tools they need. The round was led by IVP, and well-known backers such as a16z and Amazon Alexa Fund also joined.

Glossary

Wabi
An AI app that aims to build small apps for people on request, acting as a personal AI agent.
IVP
A venture capital firm (an investment company that buys shares in young companies); it led this funding round.
AI agent
A program that can complete tasks for a user on its own, rather than only answering questions.

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