July 15 – AI startup Nous Research, the company behind the open-source AI agent Hermes, is reportedly finalizing a new funding round that would value the company at approximately $1.5 billion.
According to sources familiar with the discussions, the financing is expected to be led by Robot Ventures, with significant participation from Union Square Ventures (USV) and several other investors. The company is seeking to raise at least $75 million, with the round reportedly attracting strong interest from venture capital firms.
Nous Research declined to comment on the reported fundraising, while Robot Ventures and USV have not publicly responded.
Founded in 2023 by Jeffrey Quesnelle, Karan Malhotra, Ryan Teknium, and Shivani Mitra, Nous Research has rapidly gained recognition within the open-source AI community. Before the latest fundraising effort, the company had secured approximately $70 million from investors including Paradigm, Robot Ventures, North Island Ventures, OSS Capital, and technology investor Balaji Srinivasan, according to Crunchbase.
Hermes Gains Momentum in the Open-Source AI Race
Nous Research recently introduced Hermes, an open-source AI agent designed to compete with other autonomous AI assistants capable of performing tasks on behalf of users.
Unlike some competing agents, Hermes includes built-in capabilities such as web browsing, coding assistance, and image understanding. The platform is also designed to improve over time by learning from user interactions and automatically developing new capabilities without requiring manual updates.
In addition to Hermes, Nous Research has released several specialized language models focused on areas including software development and mathematics.
Users can deploy Hermes locally on their own computers or virtual private servers, allowing AI agents to perform automated tasks, interact with users, and send updates through messaging platforms such as Telegram and Discord. These always-on AI assistants have become increasingly popular among developers and businesses seeking to automate repetitive workflows.
Strong Adoption Among Developers
Hermes has gained significant traction within the developer community. Its open-source repository on GitHub has attracted roughly 214,000 stars and nearly 40,000 forks, reflecting widespread adoption and active community involvement.
For users who prefer not to manage their own infrastructure, Nous Research also offers a cloud-hosted version of Hermes. The managed service is available through subscription plans ranging from $20 to $200 per month, providing easier access for individuals and businesses looking to deploy AI agents without handling installation or maintenance.
If completed, the reported funding round would further strengthen Nous Research’s position as one of the fastest-growing companies in the open-source AI ecosystem, as investor interest in autonomous AI agents and developer-focused platforms continues to accelerate.
