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Rabbit funding, valuation and investors
AI hardware startup behind the r1 pocket device and Large Action Model (LAM) OS.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Series A
$10M · 2023
Latest known valuation
Not publicly disclosed
Total disclosed equity funding
$30M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
series a · Santa Monica, CA
Investors in latest funding
Lead: Khosla Ventures
Overview
Rabbit Inc. is a Santa Monica-based AI hardware company founded by Jesse Lyu. It launched the r1, a pocket AI device running Rabbit OS powered by a Large Action Model (LAM) designed to interact with apps and services on users' behalf. Rabbit raised a $20M seed round led by Khosla Ventures in 2023 and a $10M Series A also led by Khosla, with Andreessen Horowitz and Bessemer Venture Partners on the cap table. The r1 debuted at CES 2024 with significant media attention and pre-orders, though reviews questioned whether dedicated hardware beats smartphone AI assistants. Rabbit pivoted from its earlier R1 device concept to focus on LAM as a software layer for action-taking AI agents.
Why Rabbit is interesting
CES 2024 launch generated massive buzz for a $199 AI device — but Rabbit's LAM thesis of teaching AI to use apps faces skepticism on reliability vs phone assistants.
Product & use cases
Rabbit builds the r1 AI pocket device and Rabbit OS with a Large Action Model (LAM) that learns to navigate and operate apps. The thesis is action-taking AI that completes tasks rather than just answering questions.
- Voice-controlled AI assistant for booking rides, ordering food, and app tasks
- Dedicated AI hardware separate from smartphone distractions
- LAM-powered agent interactions across third-party services
Key facts
- Seed (2023): $20M led by Khosla Ventures
- Series A (2023): $10M led by Khosla; a16z and Bessemer on cap table
- r1 device launched at CES 2024 with significant pre-order volume
- Large Action Model (LAM) designed for cross-app AI task completion
Funding history (newest first)
Investors in our directory
Funds linked from Rabbit's profile — open a fund page for stage focus and related deal articles.
Competitive landscape
Edge: Dedicated hardware with push-to-talk UX and LAM trained on app interaction patterns. Early mover in AI-native device category before Apple Intelligence and Gemini on phones.
AI hardware startups (Rabbit, Humane) bet consumers want dedicated devices for AI agents. Smartphone incumbents are integrating similar capabilities natively. Rabbit's LAM differentiation depends on reliable cross-app task completion — an area where early reviews were mixed. The company's survival likely hinges on software improvements rather than hardware sales alone.
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Humane AI Pin direct
Competing AI wearable; both faced criticism on reliability and value vs smartphones.
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Apple Intelligence incumbent
On-device AI across iPhone ecosystem; distribution advantage Rabbit cannot match.
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Google Gemini incumbent
Phone-integrated AI assistant with app action capabilities on Android.
Notable stories
- Founder Jesse Lyu debuted the r1 at CES 2024, generating one of the most discussed hardware launches of the show despite mixed early reviews.
- Rabbit's LAM was trained by having humans demonstrate app interactions, a novel approach to teaching AI agents (company presentations, 2024).
Industries
Related funding articles
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FAQs about Rabbit
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