July 13 (Reuters) - AI startup Nomic has raised $17 million in a new funding round from investors led by Coatue, the companies told Reuters. The investment valued New York-based Nomic AI, a team of four at the time, at $100 million, showing continued interest from VCs to bet on small teams building popular AI products. Founded in 2022, Nomic has released two products to date, including an open-source AI model, GPT4ALL, which is free to download and could run on devices such as a laptop. Nomic said its goal is to boost the visibility of datasets in model training, and democratize access to AI models. Coatue has made a series investment in open-source AI startups, including Stability AI, Hugging Face and Replit.

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Persons: Coatue, Nomic, Andriy Mulyar, GPT, Viswanath, Krystal Hu, Lincoln Organizations: Reuters, Betaworks Ventures, Google, Thomson Locations: York, New York