Decentralized AI project Nous Research in talks to raise $75M at $1.5B valuation: report

Nous Research, the open-source AI lab behind the Hermes agent, is in talks for a funding round of at least $75 million at a $1.5 billion valuation, according to TechCrunch. The round is led by Robot Ventures, with USV participating alongside other investors, citing unnamed sources. The valuation would represent a sharp jump from its earlier $50 million Series A led by Paradigm just over a year ago, when the company’s yet-to-launch token was valued at $1 billion. Founded in 2023 by Jeffrey Quesnelle, Karan Malhotra, Ryan Teknium, and Shivani Mitra, Nous Research reportedly had about $70 million in total funding prior to this round. Hermes competes with OpenClaw, and runs locally or via a cloud-hosted option priced at $20 to $200 per month. Sources say new capital will expand Hermes’ products and business model.