The Rise of /dev/agents: A $500M Valuation and $56M Seed Round

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By Tanu Chahal

29/11/2024

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AI agents, capable of executing multi-step tasks autonomously, are emerging as the next big innovation in technology. However, for these agents to fulfill their potential, they will require a unified infrastructure to collaborate effectively and tackle complex tasks such as booking trips or managing logistics. This challenge has sparked the creation of /dev/agents, a startup led by former Google executives who played key roles in the early development of Android.

A New Operating System for AI Agents

David Singleton, the co-founder and CEO of /dev/agents, draws parallels between the current AI landscape and the early days of mobile technology. "Before Android, the potential of mobile was clear, but developing for it was incredibly challenging," Singleton explained. Similarly, building robust AI agents today is hindered by the lack of standardized tools and systems.

Singleton, previously the CTO of Stripe and leader of AndroidWear at Google, envisions /dev/agents as a cloud-based operating system designed to simplify AI development. This platform aims to provide developers with the tools needed to create AI agents that work seamlessly across devices, offering personalized interfaces powered by generative AI.

Backing from Industry Leaders

The ambitious vision of /dev/agents has attracted substantial support. This week, the company secured a $56 million seed funding round led by Index Ventures and CapitalG, Alphabet's independent growth fund. Other participants include Conviction Capital and prominent industry figures such as OpenAI co-founder Andrej Karpathy, Scale AI CEO Alexander Wang, Palo Alto Networks CEO Nikesh Arora, and Android founder Andy Rubin.

This funding round valued the company at $500 million, reflecting the strong belief among investors in the transformative potential of AI agents. Nina Achadjian, a partner at Index Ventures, highlighted the technical challenges and scale of the idea, stating, "If there was one team capable of tackling this, it would be the team behind Android and Stripe."

An Experienced Team

The founding team at /dev/agents brings extensive experience in technology innovation. In addition to Singleton, co-founders include:

  • Hugo Barra, Chief Product Officer and former VP of Android product management at Google and Meta’s Oculus VR.

  • Ficus Kirkpatrick, Chief Technology Officer, an early Android engineer and former VP of AR/VR at Meta.

  • Nicholas Jitkoff, Principal Designer for Google Chrome and senior leader at Dropbox and Figma.

Massive Market Potential

Investors are optimistic about /dev/agents’ approach to bridging the gaps in AI development infrastructure. Jill Chase of CapitalG noted that her firm rarely invests in pre-product companies but made an exception due to the immense market potential and the exceptional team.

The first version of /dev/agents’ platform is expected to launch by early-to-mid next year. While the exact business model is still under development, Singleton hinted that it may follow Android's monetization strategies, leveraging commerce on the platform to generate revenue through subscriptions or sales commissions.

Looking Ahead

As AI agents evolve, the role of a unified operating system like the one envisioned by /dev/agents could be instrumental in unlocking their full potential. With a strong team and significant investor backing, the company is well-positioned to shape the future of AI development.