H, the French artificial intelligence startup founded by veterans of Google's DeepMind AI lab and backed by billionaires including LVMH Chief Executive Officer Bernard Arnault, is preparing for another funding round after announcing its first product.

The Paris-based AI firm is operating with less money than its competitors and will need to seek more capital, according to CEO Charles Kantor, who founded the startup with DeepMind alum Laurent Sifre. The company plans to release more products before the end of the year and the next financing round may come "in the next few months," he said in an interview.