Feb 6, 2023

Code-generating platform Magic challenges GitHub’s Copilot with $23M in VC backing

Posted by in categories: information science, robotics/AI

Magic, a startup developing a code-generating platform similar to GitHub’s Copilot, today announced that it raised $23 million in a Series A funding round led by Alphabet’s CapitalG with participation from Elad Gil, Nat Friedman and Amplify Partners. So what’s its story?

Magic’s CEO and co-founder, Eric Steinberger, says that he was inspired by the potential of AI at a young age. In high school, he and his friends wired up the school’s computers for machine learning algorithm training, an experience that planted the seeds for Steinberger’s computer science degree and his job at Meta as an AI researcher.

“I spent years exploring potential paths to artificial general intelligence, and then large language models (LLMs) were invented,” Steinberger told TechCrunch in an email interview. “I realized that combining LLMs trained on code with my research on neural memory and reinforcement learning might allow us to build an AI software engineer that feels like a true colleague, not just a tool. This would be extraordinarily useful for companies and developers.”

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