According to significant market researches, the global Artificial Intelligence market is expected to experience massive growth in the coming years, with revenues increasing from around US$9.5 billion in 2018 to an expected US$118.6 billion by 2025.
The key drivers of such progress are rising startups that are adding more value and revenue to the widespread AI market. From Silicon Valley to London to Shanghai to the Indian IT hub, the proliferation of most innovative market entrants has presented with some great offerings and services across their region and globally as well. Few years old AI startups like Dataminr, Face++, SenseTime, and iFlytek have already proved themselves and now is time for newly founded organizations who are aggressively prancing ahead, to give tough competition to other key players of the market, while securing the huge sum of capitals.
Using Crunchbase data for new AI companies, a report by RS Components, has analyzed the AI startup landscape, revealing which countries have seen the most AI companies founded and how much funding they have secured.
Here are some of the key highlights of the report.
The data showcases that more than 650 AI startups were founded between January 2019 and January 2020.
The majority number of newly founded startups are based in the United States, followed by Israel, United Kingdom, India, Canada, Germany, the Netherlands, France, and China. Spain and Sweden have been discovered with less than 25 new startups across their region. The analyzed startups received over US$ 345 million last year, with AI companies in the US accounting for 65% of that, followed by startups in China that attracted funding of over US$ 45 million. Here are the countries with top funded AI startups:
United States: US$ 224.2 million
China: US$ 45.2 million
South Korea: US$ 26.8 million
Japan: US$ 12 million
Australia: US$ 6.5 million
Hong Kong: US$ 5.7 million
UK: US$ 5.4 million
France: US$ 4 million
Israel: US$ 3.5 million
India: US$ 2.2 million
Belgium: US$ 1.1 million
Brazil: US$ 1 million
Besides, regions including UAE, Canada, Mexico, Azerbaijan, Russia, Singapore, Nigeria, Poland, Chile, Saudi Arabia, Germany, Latvia, Italy, Sweden, the Netherlands, Finland, Ireland, Switzerland, and Ecuador secured funding less than a million-dollar.
Despite being only a year-old company, some of them saw funding/investment of over US$30 million. Moreover, the companies that created most interests among investors are: ArsenalBio (US$85 million) which is a programmable cell therapy company; Vianai (US$ 50 million) that provides enterprise artificial intelligence solutions; CODE 42 AI (approx. US$ 26 million), a TaaS company that develops an urban mobility operating system; Navigator (US$ 12 million) which is an AI-enabled assistant designed to helps teams work and communicate more efficiently; Pearl (US$ 11 million), a vision company focusing on solving challenging problems in the dental industry.
From the above data, we can clearly observe that the United States is leading the way when it comes to funding for all startups and exceeds others by spanning 178 newly founded AI establishments.