AI Agents Gain Traction

Fundamental Research Labs, formerly known as Altera, has secured $30 million in Series A funding to advance its AI agent development across various sectors. The funding round was led by Prosus, with participation from Stripe's co-founder, Patrick Collison. This brings the company's total funding to over $40 million, following a $9 million seed round in 2023.

Founded by Dr. Robert Yang, Fundamental Research Labs operates with specialised teams focused on gaming, prosumer applications, core research, and platform development. Their products include Fairies, a general-purpose consumer assistant, and Shortcut, a spreadsheet-based agent for financial modelling. The company's long-term vision includes tackling physical problems with AI agents embodied as robots.

Fundamental Research Labs' approach involves creating AI agents that can automate tasks and collaborate with humans. Their agents are designed to perform complex workflows and adapt to new information. The company aims to build AI that learns, cares, and grows, addressing concerns about bias, errors, and ethical dilemmas.