AI research startup Flapping Airplanes valued at $6B in $1B round

Flapping Airplanes, a year-old AI research startup, has raised $1 billion at a $6 billion valuation. The round was led by Index Ventures and Lux Capital, with Sequoia Capital, Alphabet's GV and Kleiner Perkins also participating. The company has yet to launch a commercial product, and its valuation has quadrupled.

• The $1 billion round was led by Index Ventures and Lux Capital
• Valuation including the new funding reached $6 billion
• Sequoia Capital, GV and Kleiner Perkins also participated
• The startup is about a year old with no commercial products yet