AI-powered search engine Perplexity AI, now valued at $520M, raises $70M

As search engine incumbents — namely Google — amp up their platforms with gen AI tech, startups are looking to reinvent AI-powered search from the ground up. It might seem like a Sisyphean task, going up against competitors with billions upon billions of users. But this new breed of search upstarts believes it can carve out a niche, however small, by delivering a superior experience.
One among the cohort, Perplexity AI, this morning announced that it raised $70 million in a funding round led by IVP with additional investments from NEA, Databricks Ventures, former Twitter VP Elad Gil, Shopify CEO Tobi Lutke, ex-GitHub …