Banks Take Stakes In AI Labs As Rogo Raises $30 Mn

Financial-services AI startup Rogo raised $30 Mn from Barclays, BNP Paribas, Citi, MUFG and Société Générale, with nine global banks holding nearly $20 Tn in combined assets now on its cap table. Bank investments in AI companies have grown 21% annually since 2023, including stakes in Tokyo's Sakana AI and India's CoRover and Sarvam.

• Rogo raised $30 Mn from nine banks with nearly $20 Tn in assets
• Bank investments in AI firms grow 21% a year since 2023
• Citi and Santander took stakes in Tokyo-based Sakana AI
• HDFC Bank and Canara Bank backed CoRover, IDFC partnered Sarvam