Wabi, the startup founded by Eugenia Kuyda, raised $55 million led by Institutional Venture Partners, with Andreessen Horowitz, Amazon Alexa Fund and Forerunner Ventures also participating. The funding round, which closed on October 29, 2026, values the company at $1.25 billion. Wabi has now raised $75 million in roughly 11 months, following a $20 million pre-seed round in November 2025. The recently launched Wabi 2.0 has shifted from prompt-based app building to a conversational agent offering multi-thread chats, shared access and on-demand mini-apps. The service remains free with no finalized monetization model, while Kuyda’s track record with Replika, which has attracted roughly 35 to 40 million users, is a key selling point for investors.
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