Perplexity AI Plans to Raise USD 500 Million in Funding at USD 9 Billion Valuation: Report

Artificial intelligence (AI) search company Perplexity AI has reportedly started fundraising talks, aiming to more than double its valuation to about USD 9 billion or more. The company now plans to raise around USD 500 million, though the amount is subject to change, CNBC reported, citing people familiar with the matter. This follows a significant increase from its USD 3 billion valuation in June.

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Also Read: Telefonica’s Wayra Invests in AI Startup Perplexity, Signs Commercial Agreement

Perplexity AI Fundraising Plans

Reportedly, Perplexity started the year with a roughly USD 500 million valuation. Founded amid the growing generative AI sector, Perplexity has completed three funding rounds this year, attracting significant investor interest.

However, the company faces controversy over accusations of content scraping and plagiarism from media outlets such as The New York Times. Despite these allegations, which Perplexity denies, the company tries to expand its presence in the generative AI market, competing with companies like OpenAI, the creator of ChatGPT.

Also Read: SAP Expands Its Partnership with Mistral AI to Broaden Customer Choice

Wayra Invests in Perplexity

Recently, as reported by TelecomTalk, Wayra, the corporate venture capital arm of Spain-based telecommunications company Telefonica, announced it has invested an undisclosed sum in Perplexity.

Wayra believes that Perplexity has a differentiated proposition that will revolutionize the way users find information on the internet by allowing them to ask questions directly and receive clear and concise answers from a curated set of relevant sources.

Telefonica also announced that it has signed a global commercial agreement with Perplexity to offer preferential benefits to its customers in Brazil, the UK, and Spain, while exploring opportunities to expand this partnership to other countries.