Japanese startup Flux bags $32m for no-code AI platform

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Businesses across the world are rushing to adopt AI. Japan-based startup Flux is targeting companies in the country who want to do so at lower cost and higher efficiency.

The firm developed a no-code AI platform called Flux AI. According to Flux, the platform enables businesses to leverage AI technologies such as predictive analytics, natural language processing, and large language models without needing prior coding skills or knowledge.

The startup has just raised US$32 million in a series B round led by DNX Ventures.

Funding details

• Funding amount: $32 million
• Lead investor: DNX Ventures
• Other investors: Aozora Corporate Investment, Sony Innovation Fund, Salesforce Ventures, NTT DoCoMo Ventures, Archetype Ventures, Coinbest, SMBC Nikko Securities
• Stage: Bridge
• Source

The company says it collects over 100 terabytes of data per month from its services, which goes to training and improving its models. Currently, its services are primarily used for marketing and digital advertising.

Flux will use the fresh funds to hire more engineers and to expand its AI research capabilities and product offerings beyond marketing and advertising.

This comes amid an unprecedented global interest in the generative AI market, which is projected to reach US$1.3 trillion in revenue by 2032, according to Bloomberg Intelligence.

See also: Exclusive insights from Tony Fadell on ChatGPT and the AI gold rush

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