Reka AI just crossed the $1 billion mark—and it got there fast. The AI startup, founded in 2022 by ex-Google (GOOG, Financial) and Meta (META, Financial) researchers, closed a $110 million funding round led by Nvidia (NVDA, Financial) and Snowflake (SNOW, Financial). That's more than triple its last known valuation of $300 million from 2023. Reka builds large language models, the engine behind much of the generative AI wave, and says it can do so more efficiently than the current titans. Investors seem to agree. The funding reflects a growing appetite for lean, independent AI players who can punch above their weight.
Snowflake, which previously held acquisition talks with Reka, decided instead to partner. Now it's doubling down by bringing Reka's models directly to enterprise customers. “Very few teams in the world have the capability to build what they've built,” said Snowflake's VP of AI Engineering, Vivek Raghunathan. “Almost everyone at that level is at OpenAI, Meta, or Anthropic. Reka is one of the rare independents.” The bet? That Reka could become a go-to model provider for companies that want powerful AI tools—without being locked into Big Tech ecosystems.
CEO Dani Yogatama isn't slowing down. Reka's headcount jumped from 20 to 50 in the past year, and it's now offering tools beyond just models—like application logic and custom interfaces. The strategy is clear: build fast, stay independent, and fill the gaps the giants leave open. As capital floods into AI and companies hunt for flexible alternatives, Reka's leap to unicorn status could be just the beginning.
