Y Combinator veterans raise $15 million to build an AI money manager that thinks like a wealthy family office (www.businessinsider.com)

Dillon Erb and Daniel Kobran, Y Combinator veterans, have successfully raised $15 million for their startup, Autonomous Technologies Group (ATG), which aims to revolutionize wealth management with their AI-powered app, Autonomous. This initiative targets individual investors by mimicking the sophisticated investment strategies used by ultrawealthy families, rather than competing with traditional robo-advisors that often provide generic advice or impose high fees. Erb and Kobran’s experience includes the sale of their previous venture, Paperspace, for $111 million, which has informed their vision for making high-level financial strategies accessible to a broader audience. The significance of ATG’s launch lies in its potential to democratize access to advanced financial advice, utilizing real-time market data and personal financial contexts. Autonomous will offer personalized portfolio monitoring and bespoke investment recommendations while operating as a free platform for early users. The firm plans to generate revenue through its Autonomous Index, enabling users to execute trades and build personalized stock portfolios. With ambitions to transform the entirety of financial advisory services by integrating various assets like cryptocurrency and startup equity, ATG positions itself at the forefront of a rapidly changing financial landscape that increasingly embraces AI technologies.