News Summary

• Fundamental Research Labs, formerly known as Altera, has raised $33 million in Series A funding.
• The company has a curious structure, as it is working on multiple AI applications in different fields.
• The startup’s founder, Dr. Robert Yang, says that the company wants to be a “historical” company without adhering to a typical startup structure.
• It raised $9 million in a seed round last year, which was co-led by First Spark Ventures and Patron, with participation from a16z Speedrun and Eric Schmidt.