Letta receives $10 million in seed capital

Lettaa San Francisco, California-based generative AI startup that emerged from UC Berkeley's AI research lab, emerged from obscurity with $10 million in seed funding.

The round was led by Felicis, with participation from Sunflower Capital and Essence VC, as well as angels Jeff Dean (Chief Scientist at Google DeepMind), Clem Delangue (CEO of HuggingFace), Cristobal Valenzuela (CEO of Runway), Jordan Tigani (CEO of MotherDuck), Tristan Handy (CEO of dbt Labs), Robert Nishihara (Co-founder of Anyscale) and Barry McCardel (CEO of Hex).

The company intends to use the funds to further develop a new hosted product, Letta Cloud, which will enable developers to build and deploy agents with advanced storage systems.

Letta plans to use the funding to further develop a new hosted product, Letta Cloud, that allows developers to build and deploy agents with advanced storage systems. Letta Cloud includes a hosted agent service that allows developers to deploy and run stateful agents in the cloud, accessible via REST APIs. It is “model agnostic,” meaning developers can easily swap out model endpoints and bring their agents to any LLM provider (even a single agent can run on multiple models).

In addition, Letta Cloud provides an “Agent Development Environment” (or “ADE”) for agent developers, allowing them to develop and debug agents by directly viewing and manipulating both the agent’s prompts and memory. This is made possible by Letta’s “white-box memory” approach, which makes the exact prompts and memory passed to the LLM at each reasoning step transparent to the developer, unlike many existing agent frameworks.

Letta co-founders Charles Packer and Sarah Wooders met while doing their PhDs at UC Berkeley's Sky Lab under the same supervisors, Joseph Gonzalez and Ion Stoica. Both professors will join the Letta founding team in an advisory capacity.

The company is releasing its new Agent Developer Environment and API platform for building and deploying AI agents for free and introducing early developers to the beta version of its hosted Letta cloud platform. Developers can install Letta's open source software and sign up for the hosted beta version at letta.com.

FinSMEs

23.09.2024