Premji Invest, founded by Azim Premji, might invest $50 million in the AI coding startup Poolside, which will be based in Paris.

This is part of a $400-million round Poolside is raising, following a $126 million seed round in August. The current funding round values Poolside at $2 billion. This investment reflects strong investor interest in artificial intelligence. Poolside is Premji Invest’s third global AI investment, after Canva and Hippocratic AI.

Poolside is training a large language model (LLM) focused on software development. The LLM improves by completing millions of tasks in thousands of real-world software projects. Poolside’s approach starts with assisting developers in building software using AI. Next, it enables anyone to build software through AI-led, human-assisted interactions. Finally, it aims to generalize these capabilities beyond software to other fields.

Poolside was founded in April 2023 by Jason Warner and Eiso Kant. Warner was a former investor at Redpoint and CTO at GitHub, while Kant previously founded Athenian and source{d}. It is the third major foundational model startup emerging from Paris. Similar to Mistral and H, Poolside has attracted hundreds of millions in investments from backers.

In March, Premji Invest co-led a $53-million Series A round for Hippocratic AI. Hippocratic AI specializes in voice-enabled generative AI agents for healthcare. These agents interact with patients, collect information, conduct follow-ups, and perform clinical tasks.

Premji Invest prioritizes AI applications that solve specific vertical challenges rather than building superficial layers on existing models.

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