Factory, a company developing AI agents called 'Droids' to aid in software coding, has secured $50 million in Series B funding, valuing the company at $300 million. The investment was led by NEA, Sequoia Capital, and Nvidia, with participation from J.P. Morgan and other angel investors.
Factory's platform offers developers flexibility by being Large Language Model (LLM), Integrated Development Environment (IDE), and interface agnostic. Droids can be used from the terminal, IDE, Slack, or browser, and can integrate with tools like GitHub, Slack, Jira, Datadog, Sentry, and Google Drive. The company intends to use the funding to expand its team and enhance its Droid capabilities.
Factory's AI agents automate software engineering tasks such as code review, testing, debugging, and project management. The company's Code Droid has achieved state-of-the-art performance on the SWE-bench AI coding benchmark.
