Mubadala Invests in Series B in Primer
Posted on 11/15/2018
San Francisco-based Primer raised US$ 40 million in a Series B round that was led by Lux Capital. Other investors in the round include Mubadala Investment Company and Section 32. Return backers include Amplify Ventures, DCVC (Data Collective, and In-Q-Tel, an investment form supported by the Central Intelligence Agency (CIA). Primer is an artificial intelligence platform that analyzes large datasets, competing with firms like Peter Thiel’s Palantir Technologies Inc. Primer raised US4 14.7 million in its Series A round from In-Q-Tel, Lux Capital, Amplify Partners, and Data Collective.
Primer was founded by New Zealander Sean Gourley, the co-founder & CTO of Quid, an augmented-intelligence company.
This is in the midst of the financial backers of Palantir who are trying to value their stake in the company. Morgan Stanley’s mutual funds owns shares in Palantir and have lowered their valuation in the company. Morgan Stanley believes Palantir is worth around US$ 4.4 billion as of September 30, 2018. Palantir attempted to buyback all of the stock held by Morgan Stanley’s mutual funds, which amounts to just around US$ 3 million as of the middle of 2018.