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AI Startup Read AI Raises $21M for Meeting Summary Generator

Seattle-based startup Read AI completed a $21 million Series A investment round, led by Goodwater Capital and with participation from Madrona Venture Group. The startup utilizes generative artificial intelligence to automate meeting summaries and is expanding into email and messaging capabilities.

Co-founder David Shin stated that advancements in generative AI have increased the company's service offerings, and the firm now offers a range of price plans, including a free basic version for individual users and enterprise accounts costing $22.50 and $29.75 per month per user.

The surge in popularity of generative AI has led to significant funding for other AI companies, such as Perplexity which raised $63 million at a $1 billion valuation, and legal technology company Robin AI which received $26 million in January.

Despite concerns about over-hyping, the AI industry continues to attract investment, with startups like Read AI seizing opportunities to expand their AI capabilities and offerings.