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Andreessen Horowitz Co-Leads $60 Million AI Fintech Investment

Financial technology startup Black Ore is coming out of stealth with a major investment.

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Black Ore Technologies Inc., a startup building artificial intelligence tools for the financial services industry, is emerging from stealth with a $60 million funding round, the company plans to announce Tuesday.

Austin-based Black Ore is the latest AI startup to raise millions while still in its very early stages. Last October, London-based Stability AI raised a $101 million seed round. And earlier this year, Paris-based Mistral AI raised $113 million in its first funding deal. Typical seed and Series A rounds, meaning a company’s very early financings, are less than $20 million, according to PitchBook data.