Sidley Represents Nous Research in US$90 Million Series B Financing

Sidley represented Nous Research, an artificial intelligence (AI) company focused on developing open-source AI models and agents, in its US$90 million Series B financing at a valuation of US$1.5 billion. The financing was led by Robot Ventures, with participation from NVIDIA, Microsoft, Samsung, Union Square Ventures, Y Combinator, Menlo Ventures, and other investors.

Nous Research develops open-source AI technology, including Hermes Agent, an AI assistant designed to provide users with greater control over their data and AI systems. The proceeds from the financing will support the company’s expansion into enterprise applications, including the development of Hermes for Businesses, a platform designed to enable businesses to deploy and customize AI agents.

The Sidley team was led by Lilya Tessler (FinTech and Blockchain) and Graeme Waller (Emerging Companies and Venture Capital).