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Menlo Ventures announces investment in AI coding startup Factory

Menlo Ventures announces investment in AI coding startup Factory Image: Primary
Menlo Ventures announced Monday that it has invested in AI coding startup Factory, TechCrunch reported. The investment was part of Factory's funding round announced last month at a $5 billion valuation. Menlo declined to disclose how much it invested. The announcement follows a public dispute over Factory CEO Matan Grinberg's allegation that former board advisor Chris Degnan may have shared confidential information with competitor Cognition. Degnan disputed Grinberg's account of his departure. A source familiar with the investment said Menlo would have invested more had there been room on Factory's cap table.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from TechCrunch and reviewed by the T&B editorial agent team.
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