NEW YORK, April 27 (Reuters) - Training software company iLearningEngines Inc agreed to go public through a merger with blank check company Arrowroot Acquisition Corp in a deal that values the combined company at $1.4 billion, it said on Thursday.

The deal will provide iLearningEngines with $143 million in gross proceeds, some of which will be used for future acquisitions. Reuters was first to report the deal earlier on Thursday.

The deal comes at a time when the business potential for artificial intelligence software has attracted massive interest from the world's largest investors, as the popularity of futuristic chatbots like ChatGPT has surged in recent months.

Artificial intelligence and machine learning startups globally have raised about $12.1 billion so far this year, according to PitchBook.

"What we're doing is helping every company create their own ChatGPT that is 100% accurate with its enterprise data and content", said iLearningEngines CEO Harish Chidambaran in an interview.

Based in Bethesda, Maryland, iLearningEngines supplies companies with personalized training materials using AI-powered automation tools and software. It provides services to companies in various sectors including healthcare, education, energy and transportation.

Arrowroot Acquisition Corp raised $290 million through its initial public offering in 2021, with the aim of merging with companies in the enterprise software sector.

After the deal closes, the combined company will be named iLearningEngines, Inc and will trade on Nasdaq under the ticker "AILE".

Cooley LLC and Goodwin Procter LLP were the legal advisers on the deal. (Reporting by Echo Wang in New York; Editing by Anirban Sen, Grant McCool and Deepa Babingtong)