Bezos Expeditions, the investment company of Amazon owner Jeff Bezos, will invest $72 million in Toloka, a former Yandex subsidiary that specializes in data markup for AI. This was reported on the Toloka website and its parent company, Nebius Group. The latter is headed by Yandex founder Arkady Volozh.
Mikhail Parakhin, technical director of Shopify (an e-commerce platform), is also participating in this project and will become the executive chairman of Toloka's board of directors. In addition to him, Olga Megorskaya, the founder and CEO of Toloka, will join the new board of directors.
The investment from Bezos Expeditions will help Toloka expand its capabilities in the field of AI and improve the quality of data markup. According to Reuters, the initiative to raise funds was put forward by Bezos' company. Toloka plans to use the funds to improve its services and expand its customer base.
Arkady Volozh ranks 121st on Forbes' list of Russian billionaires with a fortune of $1.2 billion. The businessman left Yandex in 2022. Nebius Group is the former parent company of Yandex, formerly known as Yandex N.V.
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