New AI venture studio launches in Pittsburgh with inaugural cohort of four startups

PITTSBURGH — A new AI company has unveiled itself in Pittsburgh, aiming to launch more.

Arsenal AI is largely a venture studio, which differs from traditional venture capital firms as they focus on both investing in and creating and incubating new companies. Arsenal is not the first to form a venture studio in the region — two years ago Monroeville-based engineering firm Premier Automation launched Premier Labs as a similar concept. Arsenal plans to offer consulting services as well. The company currently works out of Field Day in Lawrenceville and is in the market for an expanded space.

The company was unveiled at a lavish public facing event on Thursday at the Pittsburgh Opera in the Strip District, featuring remarks from its founding team and presentations from its initial four startups. The group was founded by CEO and former PWC AI and Digital Strategy Manager Jacob Rayburg and healthcare entrepreneur and Executive Chairman Chris Quimby.