Fargo-based startup announces pre-seed funding to help build, launch and sell AI tools
Chipp, a North Dakota-based AI startup, announces $800K pre-seed.
Fargo, ND February 20, 2024 — Chipp, an enablement tool that allows a broader range of builders to build and monetize AI applications, raised an $800k pre-seed round led by M25 with participation from Rex Salisbury’s Cambrian Ventures and North Dakota-based gener8tor 1889.
AI is quickly reshaping industries, influencing our daily lives and ushering in a new era of innovation. It’s easier than ever to use and play with AI; however, it’s harder to get real business value from it. Since so much effort has been devoted to the development of large language AI models, there has been a shift in focus on applications that can be built out on top of them. Enter Chipp, a platform where you can build, brand, share and sell your own custom ChatGPT code.
“We are truly excited to partner with Scott and Hunter on the journey for Chipp,” said Mike Asem, Founding Partner at M25. “In a world where individuals and organizations seek to understand how AI can add value to their own lives or those in their community, network or business — we think Chipp can play a major role in unlocking that potential and making it easy for the future to unfold. It’s also exciting to be doing our second investment in North Dakota in less than a year, as we’re starting to see some great opportunities emerge.”
While the company is still in its early stages, in less than four months 1,400+ businesses, entrepreneurs, and educators are already using Chipp to share knowledge, generate leads, integrate AI workflows, and launch new product offerings. The team continues to add additional functionality and features based on user feedback and is currently focused on helping small and medium businesses harness the power of AI.
“AI helps us work more efficiently,” said Scott Meyer, Co-founder and CEO at Chipp, “but only if it’s integrated in our daily activities. Chipp makes it easy for one person on a team to build company-specific AI tools that any of their colleagues can easily use, no matter how techie they are.”
The company plans to use the funds to help improve their technology stack, including adding support for open-source LLMs, to build out requested features and experiment with alternative models. Chipp plans to make a few key hires over the next few months to expand their team, including adding a Founding Engineer to their ranks.
“Scott and team have built a great platform with a core, engaged set of early users. I look forward to seeing how they continue their momentum into 2024 now that they are bringing on a Founding Engineer and are expanding the product,” said Rex Salisbury, General Partner at Cambrian Ventures.
Learn more about their pre-seed fundraise by using this ‘Chipp Chat’ app. Ask away!
About Chipp: Chipp makes it easy to build custom ChatGPTs for your business that anyone can use. Build, brand, share, and sell AI tools that easily integrate with your daily workflow.
About M25: M25 is an early-stage software-focused venture firm based in Chicago, investing solely in tech startups headquartered in the Midwest. Since launching in 2015, M25 has become the most active investor in the region, quickly becoming the preferred seed investor for the next generation of Midwest unicorns. Portfolio companies include Kin Insurance, Loop Returns, Astronomer, Summersalt, SteadyMD, Branch, Authenticx and more. For more information, please visit www.m25vc.com.
About Cambrian: Rex Salisbury founded Cambrian as a Solo-GP after leaving Andreessen Horowitz and invests in pre-seed and seed fintechs.
