Skin In The Game: Why Banks Are Taking Stakes In AI Labs

Rogo, a US-based financial-services AI startup, raised $30 Mn this month. What made this unique was that some of the world’s largest banks, including Barclays, BNP Paribas, Citi, MUFG and Société Générale, invested in this company, even though it has VC backing too. Nine global banks are now on Rogo’s cap table, representing nearly $20 Tn in combined assets.