Android Inventor Andy Rubin’s VC firm Playground Ventures is raising another $15 million as part of its mission to back promising startups in areas like artificial intelligence and new generations of hardware. The firm has filed a form D with the Securities and Exchange Commission, which stipulates that it is raising a new tranche of $15 million.
The Playground groups of course, has grand plans. So in the larger scheme of things, $15 million is more of a drop in the bucket. The group has so far raised around $242 million and is nearing its goal of a $300 million fundraise. It could of course, extend its plan and go for a $500 million raise as well. But that remains to be seen.
Playground Ventures does have a slew of pretty significant investors. HP, Google, Foxconn for instance, have already injected a $48 million sum into the VC firm. A lot of this money is flowing in courtesy of Andy Rubin’s pasts experience and that of the other people associated with the team.
The firm mainly invests in AI and machine learning startups, including the likes of Branch, Devialet, Nauto, Essential and more. Playground Ventures has managed to obtain equity in these startups in return for either money, or access to its various facilities.