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The launch of ChatGPT in November 2022 set off a generativeAI gold rush, with companies scrambling to adopt the technology and demonstrate innovation. Legacy chatbots, product recommendation engines, and several other useful tools may rely only on earlier forms of AI.
Last month, xAI and Anthropic raised a combined $9 billion as AI funding remained red-hot. xAI , $5B, artificial intelligence: GenerativeAI startup xAI raised $5 billion in a round valuing it at $50 billion, The Wall Street Journal reported. Other sectors, including IT management and robotics, also saw big rounds.
Of course, it was led by two well-known AI startups — including xAI , which had its second massive haul of cash in just six months. xAI , $5B, artificial intelligence: GenerativeAI startup xAI raised $5 billion in a funding round valuing it at $50 billion, The Wall Street Journal reported.
” Going private: A guide to PE tech acquisitions Biotech proved a surprisingly bright spot in 2022’s startup correction Image Credits: Getty Images The hard science and regulations that govern biotech companies sets them far apart from other startups. biotech deals also set new records in 2022 for both median deal size, $33.5
The retail industry has no shortage of cases on display where generativeAI has shown tangible benefits. They had ChatGPT write the script, and other gen AI tools to create a digital person who reads the script, a scalable process with at least one measurable benefit: speed. And software code is a language.”
San Francisco-based Writer locked up a $200 million Series C that values the enterprise-focused generativeAI platform at $1.9 Writer’s platform is designed to help businesses use large language models to improve workflows and offers AI solutions that can execute complex enterprise operations across systems and teams.
Wonder ’s big $700 million raise may have captured most people’s attention last month, but the story when it came for large deals was really biotech. Mirador Therapeutics , $400M, biotech: It was a huge month for big biotech raises and this was the biggest. Check out the biggest rounds of last month here.
Today we worry this phenomenon is playing out with enterprise adoption of generativeAI. On their digital transformation journeys over the last decade, many enterprises spent time mired in “pilot purgatory,” taking as long as years to move from concept to executing on use cases.
Biotech and AI had another strong week, as the sectors saw two big nine-figure rounds each — including one for $370 million in biotech. Candid Therapeutics , $370M, biotech: Every week there’s a big biotech raise — and this week there’s one that’s really big. Check out last week’s biggest funding rounds here.
Not surprisingly AI led the way — as it always seems to do — with a trio of a billion-or-more rounds. xAI , $6B, artificial intelligence: Elon Musk ’s generativeAI startup, xAI , officially announced its long-awaited fundraise — making it the second-most-valuable generativeAI company in the world behind only competitor OpenAI.
A proposed California bill that has proven controversial in the industry is looking to put safety regulations and guardrails on AI — although many companies, including OpenAI, worry it may be too burdensome to many AI firms. Sakana AI locked up a $100 million round led by Khosla Ventures , Lux Capital and New Enterprise Associates.
Biting into an AI Apple : Apple isn’t about to let all those other big tech companies get in on the AI fun. A new story, also by Ivan , reports that Apple is reportedly experimenting with language-generatingAI so that Siri can better understand queries. Alex found some bullish news for software companies. Kyle has more.
Formation Bio , $372M, biotech: Every week there is a big biotech raise and this week’s is really big. Formation Bio, an AI-enhanced pharma company, raised a $372 million Series D led by a16z. More and more biotech startups are using AI to help with their drug processes and investors are clearly taking note.
AI startup Safe Superintelligence ’s $1 billion round — for a startup that’s existed for only a few months — easily led the way. However, it wasn’t just AI that got funding in September, as biotech makes up about half the list. With the new cash, 3-month-old SSI plans to add computing power and hire new talent.
Pika is part of a growing group of startups building text-to-video AI software. tied) Prolific Machines , $55M, biotech: Unlike in previous weeks, there was no huge biotech round. The startup plays at a unique intersection of healthcare/biotech, AI and 3D technology.
The quintet that did raise big were from three of the usual sectors — biotech, energy and AI — however one was from a sector we don’t normally see — a vertical farming agtech startup. AI-enhanced work assistant and enterprise search startup Glean became the latest to hit it big, locking up a more than $200 million Series D at a $2.2
xAI , $6B, artificial intelligence: Elon Musk ’s generativeAI startup, xAI, officially announced its long-awaited fundraise — making it the second-most-valuable generativeAI company in the world behind only competitor OpenAI. among others. among others. The xAI round had been rumored for months. just earlier this year.
While there were no huge rounds like last week, money was again spread around from AI to biotech to marketing and more. Celestial AI , $175M, semiconductors: Optical interconnectivity startup Celestial AI raised a massive $175 million Series C led by Thomas Tull ’s US Innovative Technology Fund.
Formation Bio , $372M, biotech: Formation Bio, an AI-enhanced pharma company, raised a $372 million Series D led by a16z. More and more biotech startups are using AI to help with their drug processes and investors are clearly taking note. Founded in 2011, the company has raised $1.4 billion, per Crunchbase.
Investors certainly put their money everywhere, from biotech to productivity tools, but they didn’t shell out a lot. Pathalys Pharma , $105M, biotech: Raleigh, North Carolina-based Pathalys Pharma isn’t new to this list — it topped it early last year. Another slow week with only three companies raising rounds of more than $100 million.
That included more than $200 million for a security company and lots of big biotech raises. NinjaOne , $232M, security : NinjaOne showed this week that not all big funding rounds go to generativeAI companies. Neurona Therapeutics , $120M, biotech: San Francisco-based Neurona Therapeutics was the big biotch winner this week.
Terray Therapeutics , $120M, biotech: Los Angeles-based Terray Therapeutics, a biotech startup developing small molecule drug therapeutics, raised a $120 million Series B led by new investor Bedford Ridge Capital and existing investor NVentures. Founded in 2021, the company has raised nearly $318 million, per Crunchbase.
The barely more than 1,000 deals announced last quarter was the lowest total for rounds going to AI-related startups in years. Of course, some of the biggest include Elon Musk ’s generativeAI startup, xAI , officially announcing its long-awaited $6 billion fundraise, CoreWeave locking up $1.1
In general, the sector seems to be picking up after a slow start to the year with AI startups now raking in more than $3 billion for the current calendar year. Freenome , $254M, biotech: This is just one of many big biotech raises this month.
Kore.ai , $150M, artificial intelligence: Of course there’s a big round for a generativeAI startup. AIenterprise conversational platform Kore.ai Big global deals While Generate and Recurrent topped all rounds worldwide, there was a big round abroad. raised a $150 million round led by FTV Capital.
It wasn’t surprising, for instance, to see that generativeAI has been a popular area for seed investors. GenerativeAI Last but certainly not least on our list is generativeAI. We didn’t attempt a comprehensive list, but rather cherry-picked a few dozen standout generativeAI deals , featured below.
Early stage Activity in Q1 was pretty robust at early stage, boosted by big rounds for companies focused on biotech, artificial intelligence and climate tech. Santa Clara, California-based Astera, a developer of data center connectivity technology with use cases in generativeAI, made its splashy debut first on March 20.
Large enterprises deploy these platforms to help their employees more effectively use new technology tools. The San Francisco-based startup’s platform allows clients to use generativeAI technologies for “more efficient, hyper-personalized customer experiences at enterprise scale,” according to the company’s release.
Other industry sectors should keep a close eye on the critical milestones and pitfalls of the biotech/healthcare space - with an eye toward what platform, product, service innovations, and architectures may have a potable value proposition within your industry. Details here.
Liquid AI , $250M, artificial intelligence: What would a week be without a big generativeAI raise? Liquid AI locked up a whopping $250 million round led by AMD at a $2.3 The startup uses AI to help with credit underwriting with the technology providing more sophisticated and accurate scoring methods.
Clients continually contact Mobilunity, asking to find professionals skilled in generativeAI, NLP, and chatbots. Prompt engineering is critical for refining and training AI models as GenAI experts analyze misinterpretations, gaps, or patterns in models’ results. billion in 2024 to $1,339.1 Industry and location.
Generate invests in an array of infrastructure projects, from community solar systems to municipal wastewater treatment to electrifying fleets. Kore.ai , $150M, artificial intelligence: Another week and another big round for a generativeAI startup. AIenterprise conversational platform Kore.ai
In fact per Crunchbase data , VC-backed cybersecurity startups only raised $66 million total in Q2, as other sectors such as enterprise software and — of course — generativeAI stepped up their fundraising efforts.
While food delivery led the way, it also was a good week for aerospace, AI, biotech and defense. Metsera , $215M, biotech: It didn’t take Metsera long to get back on this list. The new cash will be used for the company’s quick-start AI applications and agents for workflows in healthcare, retail and financial services.
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