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Bezos Expeditions, the personal investment company of Jeff Bezos, led a $72 million funding round for Toloka, an artificial intelligence data solutions provider, according to Reuters. Toloka is aiming to expand its operations and has announced this strategic move as a significant milestone for the company’s growth, especially in the U.S. market.
Toloka, part of the Nasdaq-listed Nebius Group, specializes in training and evaluating AI models with the assistance of a network of human experts and testers. The company has previously collaborated with major tech entities such as Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Anthropic. Toloka’s CEO, Olga Megorskaya, expressed that the investment spearheaded by Bezos would accelerate the company’s growth and aid in the development of new products that integrate human expertise with AI technology.
Nebius Group, based in Amsterdam, was formed following a $5.4 billion transaction last year that separated the domestic and international assets of Russian internet giant Yandex (NASDAQ:NBIS). This marked the largest corporate departure from Russia since the country’s invasion of Ukraine in 2022. Prior to this separation, Nebius would have faced challenges in attracting investments from U.S. entities like Bezos Expeditions due to sanctions that prevent American investments in Russia.
In a notable development, Mikhail Parakhin, Chief Technology Officer of Shopify (NASDAQ:SHOP), is also participating in Toloka’s investment round. Parakhin will take on the role of executive chairman on Toloka’s newly formed board of directors. He shared his enthusiasm for joining the company at a critical time when the need for AI data expertise is at an all-time high.
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