Artificial intelligence has experienced a remarkable surge in growth throughout 2024, with game-changing investments fueling innovation across multiple industries. From voice technology to legal automation, these funding rounds are setting the stage for AI to revolutionize business operations and enhance capabilities.
This article gives an insightful look at how investments are shaping the future of AI, broken down month by month, highlighting the transformative potential of these technologies.
Date of Funding: December 17, 2024
Amount Raised: $10 billion (with $8.6 billion raised to date)
Investor: Led by Thrive Capital and co-led by Andreessen Horowitz, DST Global, GIC, Insight Partners, and WCM Investment Management, with additional participation from Ontario Teachers' Pension Plan, ICONIQ Growth, MGX, Sands Capital, and Wellington Management.
Aim of Funding: Databricks intends to utilize the capital to drive investment in new AI products, pursue strategic acquisitions, and expand its international operations. Furthermore, the funding will provide liquidity for employees and cover related tax obligations. The company aims to achieve positive free cash flow and expects to surpass a $3 billion revenue run rate by the fourth quarter of 2025.
Date of Funding: December 10, 2024
Amount Raised: Up to USD 6.2 billion
Investor Details: The funding is provided through the U.S. Department of Commerce's CHIPS and Science Act, a federal initiative to boost domestic semiconductor manufacturing and advance U.S. technological leadership.
Aim of Funding: This funding will support Micron's ambitious plans to establish advanced memory chip facilities in New York and Idaho, bolstering the production of DRAM and High-Bandwidth Memory (HBM). As part of a comprehensive USD 125 billion investment initiative spanning the next two decades, the U.S. aims to fortify its memory chip manufacturing capabilities, creating approximately 20,000 jobs and increasing the country's share of advanced memory production to 10% by 2035.
Date of Funding: December 17, 2024
Amount Raised: $34 million
Investor Details: Basis has secured Series A funding, led by Khosla Ventures' Managing Director Keith Rabois, with notable participation from esteemed investors, including former GitHub CEO Nat Friedman and Safe Superintelligence Co-Founder Daniel Gross.
Aim of Funding: With this funding, Basis plans to accelerate the development and deployment of its AI-powered agents designed specifically for accountants. The capital will enable the company to enhance its platform, allowing accountants to streamline tasks, generate reports, and significantly reduce time spent on manual processes. Additionally, the funding will support the platform's rollout across accounting firms, driving greater efficiency and productivity within the industry.
Date of Funding: December 19, 2024
Amount Raised: $30 million (Series C)
Total Funding: $100 million
Investor Details: The Series C funding round will empower Justt to accelerate its expansion into high-growth regions and further enhance its AI-powered chargeback management platform.
Aim of Funding: This funding will enable Justt to refine its AI-driven platform, which leverages over 500 data points to optimize chargeback dispute outcomes. With this investment, the company aims to achieve profitability by 2027, fueling its global expansion and driving technological innovation.
Company Name: Perplexity AI
Date of Funding: Early December 2024
Amount Raised: $500 million
Valuation Post-Funding: $9 billion (tripled from $3 billion earlier in 2024)
Investor Details: The funding round was backed by SoftBank, Nvidia, and Amazon founder Jeff Bezos.
Aim of Funding: The funding will further enable Perplexity AI to develop its AI-powered product suite, including the innovative Buy With Pro shopping assistant. Furthermore, the investment will support the company's global market expansion efforts, drive continued innovation in AI search, and facilitate revenue-sharing partnerships with news publishers.
Date of Funding: December 18, 2024
Amount Raised: $30 million (Series B)
Investor Details: The funding round was led by Sorenson Capital, with participation from PayPal Ventures.
Aim of Funding: Bureau will use the funding to further enhance its AI-powered fraud prevention platform, designed to empower businesses to detect and prevent fraudulent activities without compromising customer experience. To combat increasingly sophisticated forms of fraud, such as deepfake identities and account takeovers, the company will leverage a robust combination of device, behavioral, financial, and partner data to stay ahead of emerging threats.
Date of Funding: December 18, 2024
Amount Raised: $300 million
Total Valuation: $5.6 billion
Investor Details: Tech-focused venture capital firms have backed SandboxAQ, which is developing quantum technology for AI.
Aim of Funding: The funding will enable SandboxAQ to advance its quantum-powered AI technology. The company plans to transition from graphics processing units (GPUs) to more advanced quantum processing units (QPUs). SandboxAQ aims to build better predictive models by leveraging quantum mechanics and AI algorithms. It targets corporate customers and expands collaborations with firms like Accenture and Deloitte.
Date of Funding: December 9, 2024
Amount Raised: $40 million (Series A)
Total Valuation: $200 million
Investor Details: The funding round was led by venture firm Andreessen Horowitz.
Aim of Funding: The funding will support WaveForms AI's development of voice AI technology that can interpret emotional cues in conversation, enhancing human-machine interactions. The company aims to create more immersive voice assistant software that understands the words and how they are spoken, making interactions more natural and responsive. WaveForms plans to transform voice interfaces by delivering more human-like and adaptive communication in real-time without needing pre-training on specific conversational nuances.
Date of Funding: December 4, 2024
Amount Raised: $3 million (Seed round)
Total Valuation: Not specified
Investor Details: Earlybird Venture Capital led the seed round, which included participation from Tiny Supercomputer Investment Company (TSIC), Entrepreneur First, and several angel investors.
Aim of Funding: Briefcase plans to use the funding to hire engineers and product experts to advance its AI-powered bookkeeping platform, enhancing speed, VAT compliance, and accuracy. With features like smart categorization and audit logs, it’s already partnering with UK accounting firms, aiming to redefine accounting automation despite being in the prelaunch phase.
Date of Funding: December 2, 2024
Amount Raised: $50 million (Series B round)
Total Valuation: Not specified
Investor Details: The Series B round was led by Highland Europe, with additional participation from other investors.
Aim of Funding: 9fin will use the funding to enhance its AI technology, expand its analytics team, and drive U.S. growth. Specializing in global debt capital markets intelligence, 9fin provides data on high-yield bonds, leveraged loans, and private credit. It integrates generative AI for tools like agentic Q&A, real-time updates, and advanced search.
Date of Funding: December 2, 2024
Amount Raised: $700 million (Series D)
Valuation: $2.6 billion
Investors: The funding round was led by Amazon founder Jeff Bezos and Samsung.
Aim of Funding: Tenstorrent plans to use the investment to expand its engineering team, enhance its supply chain, and develop large AI training servers to showcase its technology. The company is focused on providing a more cost-effective alternative to Nvidia, particularly in AI hardware, by developing AI processors and aiming for greater interoperability with other tech providers.
Date of Funding: November 27, 2024
Amount Raised: $5.2 million (Seed Round)
Valuation: Not disclosed
Investors: The funding round was led by EQT Ventures.
Aim of Funding: Argil plans to use the investment to enhance its AI-powered video generation platform. The company focuses on helping businesses, educators, and creators produce videos with lifelike avatars in minutes, capitalizing on the growth of AI technology and the creator economy.
Date of Funding: November 26, 2024
Amount Raised: $56 million (Seed Round)
Valuation: $500 million
Investors: Not disclosed
Aim of Funding: Google Vets plans to use the investment to develop an operating system for AI agents. The company aims to create a common technical framework to enable AI agents to communicate and collaborate effectively, similar to the Android operating system for mobile apps, thus transforming AI workflows and enhancing business efficiency.
Date of Funding: November 25, 2024
Amount Raised: $15 million (Series A)
Valuation: Not disclosed
Investors: Not disclosed
Aim of Funding: Boosted.ai plans to use the investment to expand its AI platform, Alfa, which helps investment managers automate workflows and enhance decision-making. The company aims to improve its agentic AI technology, which mimics users' thinking to streamline portfolio management tasks and reduce the time spent on research and analysis.
Date of Refund: November 21, 2024
Amount Refunded: $1.9 million
Valuation: Not applicable
Investors: Not applicable
Aim of Refund: The Federal Trade Commission (FTC) is refunding $1.9 million to victims of a credit report scam orchestrated by Credit Bureau Center (formerly MyScore LLC). The scam misled consumers into enrolling in a costly credit monitoring service while falsely advertising “free” credit reports. The refunds are part of the FTC’s efforts to compensate defrauded consumers following a 2017 lawsuit.
Date of Funding: November 21, 2024
Amount Raised: $50 million (Equity Investment)
Valuation: Not disclosed
Investors: The funding round came from Cisco Investments, J.P. Morgan, K5 Global, and Nvidia.
Aim of Funding: Lightning AI plans to use the investment to expand its PyTorch Lightning AI framework, which simplifies and unifies enterprise machine learning infrastructure. The platform offers low-code, no-code solutions, multi-cloud deployment, and AI model training, helping businesses eliminate the complexity of building their own AI infrastructure. The company has experienced rapid growth, with 240,000 users across 2,000 organizations.
Date of Funding: November 20, 2024
Amount Raised: $5 billion (Funding Round)
Valuation: $50 billion (Doubling from $24 billion in previous round)
Investors: Not disclosed
Aim of Funding: xAI plans to use the new funds to add 100,000 Nvidia chips to train its AI models. This investment is part of the company’s broader plan to expand its AI capabilities. It includes scaling its Colossus 100k H100 training cluster, which Musk claims is the most powerful AI training system globally. The funding brings xAI's total raised this year to $11 billion.
Date of Funding: November 19, 2024
Amount Raised: $22 million (Series A)
Valuation: Not disclosed
Investors: Led by Xplorer Capital
Aim of Funding: Class8 will invest the capital to enhance its AI-driven logistics platform, processing 1 billion daily data points from 227,000 trucks. The platform optimizes fleet operations using OEM data for freight matching, fuel optimization, insurance, and maintenance. It aims to improve dispatch, load optimization, and profitability in volatile markets.
Date of Funding: October 10, 2024
Amount Raised: $70 million
Valuation: Not disclosed
Investors: Not disclosed
Aim of Funding: Suki will use the funds to accelerate its AI-powered healthcare solutions, including a voice assistant for clinicians. The platform automates tasks like note-taking, data retrieval, and medication reconciliation, improving efficiency and addressing labor shortages. Suki aims to deepen partnerships with MedStar Health and expand its technology across health systems.
Date of Funding: October 2, 2024
Amount Raised: $6.6 billion
Valuation: $157 billion
Investors: Not disclosed
Aim of Funding: OpenAI will use the funds to expand its leadership in AI research, enhance its computational capabilities, and continue developing its suite of problem-solving tools, including ChatGPT. With over 250 million weekly active users globally, the company aims to drive the development of artificial general intelligence (AGI) for the benefit of humanity and maintain its position in the competitive AI market.
Date of Funding: October 1, 2024
Amount Raised: $32 million (Series B)
Investors: Touring Capital, Mitsui & Co., Costanoa Ventures, Threshold, Gradient Ventures
Aim of Funding: Numa will use the funds to expand its AI engineering team, accelerate product development, and enhance auto dealerships with AI-powered operations. Its AI agents automate tasks like appointment booking and customer support, improving response times and repair order revenue. The investment aims to create brighter, faster, and more customer-centric dealerships.
Date of Funding: September 30, 2024
Amount Raised: $50 million (Series A)
Investors: Not disclosed
Aim of Funding: HPC-AI Tech will use the funds further to develop its AI software infrastructure and video generation platforms. The company plans to reach 300 clients in three years and has commercial platforms, including Colossal-AI and Open-Sora, designed for scalable AI workloads and video generation. The funding will help expand the company’s customer base and improve its AI infrastructure.
Date of Funding: September 24, 2024
Amount Raised: $3.3 million (Pre-seed)
Investors: Dig Ventures (Led the funding round)
Aim of Funding: Desia will use the funding to develop AI applications focused on productivity, automation, and analytics in the financial investment industry. The company’s product automates the analysis of data and information, addressing the challenges of manual data processing and unstructured data. By improving efficiency, Desia aims to save time and resources for investment professionals. The company plans to expand its reach in the United Kingdom, United States, and Europe.
Date of Funding: September 24, 2024
Amount Raised: $70 million (Series C)
Investors: Evolution Equity Partners (Led the funding round)
Aim of Funding: Torq will use the funding to enhance its AI-driven cybersecurity solutions, add generative AI capabilities, expand its talent pool, and accelerate growth in EMEA and APAC. The Torq HyperSOC platform automates SOC responses, including event investigation and case management, enabling security analysts to focus on strategic tasks and improve productivity.
Date of Funding: September 23, 2024
Amount Raised: $4.4 million (Seed round)
Aim of Funding: Phacet will use the funding to expand its AI tools for SMEs in eCommerce, industry, and finance. The platform offers customized AI applications and a collaborative AI Bootcamp, ensuring data connectivity, consistent experience, and cost control. It bridges the gap between evolving AI models and SME needs.
Date of Funding: September 13, 2024
Amount Raised: $230 million
Investors: Andreessen Horowitz, NEA, Radical Ventures
Aim of Funding: The funding will help World Labs develop large world models (LWMs) that interact with virtual and real 3D worlds. These spatially intelligent models enable users, including artists and engineers, to create virtual spaces with physical and semantic properties. World Labs aims to revolutionize the design, gaming, AR, VR, and robotics industries.
Date of Funding: September 12, 2024
Amount Raised: $9 million
Investors: Connexus Credit Union
Aim of Funding: The funding will accelerate Illuma Labs' voice verification technology for banking contact centers. Designed to combat fraud, deepfakes, and voice cloning, it offers a secure, efficient alternative to traditional authentication. The technology enhances security, reduces call times, lowers costs, and streamlines customer service interactions.
Date of Funding: September 12, 2024
Amount Raised: $16 million
Investors: Google Ventures
Aim of Funding: The funding will help expand Bounti's AI-powered platform for sales, marketing, and customer success teams. The platform automates tasks like prospecting and research, enabling teams to focus on customer relationships. Bounti plans to enhance the software and its human-in-the-loop services to accelerate revenue goals, with AI teammates specializing in personalized emails and research.
Date of Funding: September 11, 2024
Amount Raised: $20 million
Investors: Led by Alibaba, with participation from Unusual Ventures, Volpe Capital, RX Ventures, Falabella Ventures, and Philippos Kourkoulos Latsis
Aim of Funding: The funding will help Connectly develop its AI-powered conversational commerce platform, enabling retailers to engage in personalized two-way communications with customers. The platform allows businesses to create interactive campaigns and automate conversations without coding, aiming to improve sales and customer engagement by replacing traditional one-way methods like SMS and email.
Date of Funding: September 10, 2024
Amount Raised: $260 million
Investors: Co-led by Altimeter and DST Global
Aim of Funding: The funding will accelerate Glean’s Work AI platform, connecting enterprise data, people, and processes securely and intuitively. It will support AI innovation, customer acquisition, and global expansion. The platform includes enterprise search, AI assistants, and tools for custom AI applications, with plans to enhance Zendesk and Salesforce Service Cloud support tools.
Date of Funding: September 6, 2024
Amount Raised: $1 billion
Investors: NFDG, Andreessen Horowitz, Sequoia Capital, DST Global, SV Angel
Aim of Funding: The funding is for hiring top engineers and researchers, scaling computing power, and further developing AGI safety protocols. SSI's approach to scaling differs from OpenAI, though specific strategies remain undisclosed.
Date of Funding: September 5, 2024
Amount Raised: $18.5 million
Investors: Led by Foundation Capital
Aim of Funding: The funding will support the development of Sedric’s AI-powered compliance platform for financial institutions. It will also grow Sedric's AI lab in Tel Aviv and expand its global go-to-market teams. The platform helps compliance officers monitor customer touchpoints, flag compliance deviations, and take corrective actions. With growing attention to generative AI, the company aims to provide a bank-ready solution for financial institutions to manage compliance risk while enabling business growth.
Date of Funding: August 15, 2024
Amount Raised: $75 million
Investors: Not disclosed
Aim of Funding: The funding will support EliseAI's mission to enhance communication in the housing and healthcare sectors through artificial intelligence. EliseAI serves millions of rental units across the U.S., with products like LeasingAI for property management and ResidentAI for renter communication.
The company’s HealthAI offering automates non-clinical healthcare tasks. EliseAI aims to improve operational efficiency, sustainability, and accessibility in the housing and healthcare industries, addressing operational challenges and financial strain. The company is now valued at over $1 billion.
Date of Funding: August 14, 2024
Amount Raised: $11.5 million
Investors: Union Square Ventures
Aim of Funding: The funding will support the expansion of Consensus’ AI-powered scientific search engine, making scientific research papers more accessible to academics, students, doctors, and the general public interested in health issues. Since its launch in winter 2022, Consensus has gained 400,000 monthly active users and $1.5 million in annualized revenue. The company plans to expand its team and further enhance its platform to improve the accessibility and efficiency of scientific literature searches, significantly reducing the time researchers and non-academic users spend finding relevant information.
Date of Funding: August 13, 2024
Amount Raised: $232 million
Investors: NEA (Equity), with a $32 million equity portion and a $200 million credit warehouse
Aim of Funding: PayZen will use the Series B funding to enhance its AI-powered healthcare affordability platform. This platform simplifies healthcare systems' payment process and helps patients access and afford care. The company has experienced significant growth, with a sixfold increase in year-over-year and 100% customer retention. This funding round will allow PayZen to refine its platform further and continue its mission to eliminate financial barriers to healthcare. The company’s AI technology is a leader in transforming healthcare affordability.
Date of Funding: August 8, 2024
Amount Raised: $295 million
Investors: WestCap (led the round), with $225 million in Series D capital and $70 million in credit
Aim of Funding: FLYR will use the funding to enhance its AI-based travel industry platform. The platform provides airline and hospitality brands with global reservation systems and decision-automation solutions. It is designed to improve data management, system integration, and customer experience.
With a 290% growth in annualized recurring revenue over the past year, FLYR aims to support the travel industry's digital transformation by offering open and dynamic platforms built on modularity and AI. The funding will help accelerate its development and global expansion.
Date of Funding: August 1, 2024
Amount Raised: $80 million
Investors: Led by Greycroft
Aim of Funding: Contextual AI will use Series A funds to scale its enterprise AI platform, focusing on production-grade large language models (LLMs). The platform enables rapid deployment of RAG 2.0 applications, offering customizable machine learning capabilities with secure SaaS or on-prem options. It supports use cases like customer support and investment research. The funding will help expand its reach and enhance solutions using RAG 2.0 and Contextual Language Models (CLMs).
Date of Funding: August 5, 2024
Amount Raised: $640 million
Investors: Led by funds and accounts managed by BlackRock Private Equity Partners
Aim of Funding: Groq will use Series D funds to scale its AI inference platform, GroqCloud, by adding over 100,000 language processing units (LPUs). The funding will make AI tools more accessible to developers, expand its tokens-as-a-service (TaaS) offering, and support new models. GroqCloud serves 360,000+ developers and aims to accelerate innovation with enhanced performance and efficiency.
Date of Funding: July 29, 2024
Amount Raised: $2.5 million
Investors: Led by Diagram Ventures
Aim of Funding: Axle Automation plans to use seed funding to scale its team, expand its AI-powered anti-money laundering (AML), and know-your-customer (KYC) solutions to more financial institutions, including FinTechs and banks. The company uses generative AI to automate enhanced due diligence and other compliance processes, which are typically manual and inefficient. The solutions aim to help financial institutions reduce fraud, mitigate compliance risks, lower operational costs, and boost revenue. This funding supports Axle's goal of becoming the market leader in AI-driven compliance.
Date of Funding: July 29, 2024
Amount Raised: $14 million
Investors: Lloyds Banking Group, Nationwide, and others
Aim of Funding: Aveni, a Scottish FinTech, will use the Series A funding to create AI products and large language models (LLMs) tailored for the financial services industry. The company plans to collaborate with investors to develop FinLLM, a financial services-specific LLM.
Aveni's approach focuses on creating small, highly tuned language models trained on financial data, which industry experts review to ensure correctness, transparency, and trust. While the financial services sector is cautious about AI adoption, this funding comes as it faces pressure to embrace the technology to improve efficiency and reduce costs.
Date of Funding: July 26, 2024
Amount Raised: $15 million (Seed Round)
Total Funding: $17.5 million
Investors: Kindred Capital, NATO Innovation Fund, Oxford Science Enterprises
Aim of Funding: It will use seed funding to expand its team and accelerate the development of its AI chip. Promising 100x faster processing and 10x lower costs, the chip aims to solve AI challenges, enabling more efficient models and transforming performance, making powerful solutions more accessible.
Date of Funding: July 24, 2024
Amount Raised: $58 million (Series B)
Investors: Not specified in the release
Aim of Funding: It will use its $58 million Series B funding to expand its AI product line. Its machine learning and computer vision tools improve diagnostic accuracy, assist in X-ray reading, and enhance patient care. The funding will accelerate 3D disease tracking, treatment planning, and global accessibility.
Date of Funding: July 17, 2024
Amount Raised: $100 million (Debt Financing)
Investors: Hercules Capital
Aim of Funding: Pindrop will use $100 million in debt financing to advance its audio, voice, and AI technologies, focusing on protecting industries like banking, finance, healthcare, and retail from cyber threats. The funding will enhance fraud prevention, building on its analysis of 5.3 billion calls and $2 billion in fraud loss prevention.
Date of Funding: July 9, 2024
Amount Raised: $300 million (Series A)
Investors: Lightspeed Venture Partners, Coatue, SoftBank Group, Jeff Bezos (via Bezos Expeditions)
Aim of Funding: Skild AI will use $300 million from its Series A funding to scale its AI model and training datasets for general-purpose robots. The model aims to serve as a shared brain, enabling robots to perform tasks across various industries, addressing labor shortages, and supporting sectors like healthcare and security.
Date of Funding: July 8, 2024
Amount Raised: $52 million
Valuation: $552 million
Investors: Nvidia
Aim of Funding: Fireworks AI will use $52 million to expand its AI product offerings, focusing on smaller, customizable, secure, and privately deployable models. The company’s technology enables ultra-fast LoRA fine-tuning, allowing businesses to tailor models to specific needs. Fireworks AI aims to create a compound system orchestrating multiple specialized AI models.
Date of Funding: July 10, 2024
Amount Raised: $2.3 billion
Investors: N/A (Venture Capital firm)
Aim of Funding: Index Ventures raised $2.3 billion for AI projects, allocating $800 million for early-stage startups and the rest for later-stage companies. The firm aims to capitalize on AI's transformative impact, similar to past innovations like PCs and smartphones. Investments include Mistral, Scale AI, and DeepL, with plans to explore AI’s potential across industries.
Date of Funding: July 9, 2024
Amount Raised: $60 million
Investors: Index Ventures
Aim of Funding: Captions.ai raised $60 million in Series C funding to enhance its generative AI platform for video creation and editing. The funding will expand its machine learning team, invest in research, and improve infrastructure. With a total of $100 million raised and a $500 million valuation, the company aims to democratize video creation and storytelling.
Date of Funding: July 8, 2024
Amount Raised: $130 million
Investors: Andreessen Horowitz, Index Ventures, Google Ventures, Peter Thiel
Aim of Funding: Hebbia, a New York-based AI startup, raised $130 million in Series B funding to enhance its AI-driven complex query tool for knowledge workers. The tool searches documents and answers complex queries with flexibility and transparency. The funding will help refine the product to handle large datasets and execute advanced workflows, with a valuation of $700 million.
Date of Funding: July 7, 2024
Amount Raised: $8.5 million
Investors: VTEX (composable and complete commerce platform), business angels
Aim of Funding: Synerise raised $8.5 million in a Series B+ funding round to expand into new markets and strengthen its strategic partnership with VTEX. The funding supports Synerise's AI-driven solutions in the retail, banking, and eCommerce industries. These solutions help businesses personalize experiences, predict trends, and optimize operations while extending their global reach.
Date of Funding: July 3, 2024
Amount Raised: Total investment surpasses $140 million
Investors: BDC Capital, InBC Fund (province of British Columbia)
Aim of Funding: Sanctuary AI, a Canadian startup focused on developing "humanlike intelligence" in general-purpose robots, secured additional funding to enhance its efforts in creating intelligent, embodied systems. The company aims to address national productivity challenges with robots capable of performing diverse tasks with human-like understanding, positioning Canada as a leader in AI-integrated robotics.
Date of Funding: June 27, 2024
Amount Raised: $16 million
Investors: Sequoia Capital
Aim of Funding: It raised $16 million to expand its platform for deploying AI assistants in internal business use cases. The funding will help grow the team and accelerate product development. Dust's AI assistants assist in tasks like drafting job descriptions, reviewing cover letters, and generating SQL queries.
Date of Funding: June 25, 2024
Amount Raised: $27 million
Investors: Coatue (led the funding round)
Aim of Funding: Norm Ai raised $27 million in a Series A funding round to expand its AI-powered regulatory compliance platform. The funding will help grow its client base and further develop the platform, which automates compliance analyses by converting regulations into code. The company aims to transform compliance workflows across industries.
Date of Funding: June 21, 2024
Amount Raised: $18.8 million
Investors: Sandbox Industries, Forgepoint Capital (led the funding round)
Aim of Funding: Verituity raised $18.8 million to enhance its AI-powered B2B and B2C verified payout platform. The funding will expand ML and AI capabilities and accelerate growth in banking, insurance, and new markets like mortgage servicing and energy. Through its Mastercard partnership, Verituity aims to eliminate checks, optimize payouts, and integrate real-time payments.
Date of Funding: June 17, 2024
Amount Raised: $75 million
Investors: Kfund (venture capital firm)
Aim of Funding: Kfund raised $75 million for its K3 fund, which will support European tech startups focused on foundational technologies like AI, data, and platform layers. The fund will invest in southern European B2B ventures from pre-seed to Series B stages. Kfund aims to back companies that lay the groundwork for future growth.
Date of Funding: June 17, 2024
Amount Raised: $25 million
Investors: Sapphire Ventures (led the funding round)
Aim of Funding: Constructor raised $25 million in Series B funding to enhance its AI-powered product discovery platform for eCommerce. The investment will support product development, international expansion, and the further development of its AI Shopping Assistant. The platform has powered over 100 billion customer interactions, and its customer base has increased by 50%.
Date of Funding: June 17, 2024
Amount Raised: $18 million
Total Funding: $28 million
Aim of Funding: Aim Security raised $18 million in Series A funding, bringing its total to $28 million. The platform secures AI applications in businesses, addressing risks like data exposure, supply chain vulnerabilities, and emerging threats. It helps enterprises adopt AI securely, particularly in regulated industries like banking, healthcare, and defense.
Date of Funding: June 17, 2024
Amount Raised: $2.9 million (pre-seed funding round)
Aim of Funding: Zeta Labs raised $2.9 million to develop JACE, an AI agent designed to perform complex tasks and interact with the digital world. JACE bridges the gap between traditional chatbots and autonomous systems, capable of tasks like booking trips, paying invoices, and navigating digital tools, enhancing office productivity.
Date of Funding: June 14, 2024
Amount Raised: $50 million (Series C funding round)
Aim of Funding: Canary Technologies raised $50 million to deploy AI solutions in the hospitality industry through its Guest Management Platform. The platform digitizes hotel operations, from post-booking to checkout, enhancing guest experience and operational efficiency. The funding will support team expansion, accelerate AI capabilities, and broaden technology adoption across the industry.
Date of Funding: June 12, 2024
Amount Raised: $13 million (funding round)
Aim of Funding: Light raised $13 million to scale its AI-powered general ledger platform for multinational companies. The platform integrates accounting, tax, payments, and reporting across countries and currencies, automating transactional data cleaning and ensuring accurate ledger entries. The funding will help address complex reporting and governance challenges while accelerating growth and market expansion.
Date of Funding: June 12, 2024
Amount Raised: $640 million (Series B funding round)
Valuation: $6 billion
Investors: Led by General Catalyst, with continued support from existing investors.
Aim of Funding: Mistral AI raised $640 million to accelerate its global expansion and AI development. This will position Mistral AI as a key player in the AI industry and challenge Silicon Valley's dominance. The funding will support the company's roadmap to bring frontier AI technologies to a wider audience, expanding its reach and capabilities.
Date of Funding: June 7, 2024
Amount Raised: $36 million (initial funding round)
Valuation: Over $100 million (as of September 2023, during pre-seed financing)
Investors: Led by Greylock
Aim of Funding: Seven AI raised $36 million to support the development of its AI-powered cybersecurity solutions. The funding will help the company scale its autonomous software that hunts for cyber threats, investigates incidents, and takes actions to secure systems, enhancing defense capabilities against AI-driven cyberattacks.
Date of Funding: June 4, 2024
Amount Raised: $100 million (funding round)
Valuation: $350 million (post-funding)
Investors: Backed by Microsoft and other investors
Aim of Funding: Touchcast raised $100 million to enhance its cognitive cache content delivery technology to reduce energy and computational resource use in AI models. The funding will help improve the performance and efficiency of AI queries, addressing challenges posed by rising demand for AI resources.
Date of Funding: May 28, 2024
Amount Raised: $3.3 million (€3 million, funding round)
Valuation: Not disclosed
Investors: Led by World Fund
Aim of Funding: Faircado raised $3.3 million to further develop its AI-powered e-commerce platform, which simplifies buying secondhand goods. The funding will also support the expansion of its browser extension, which compares products across 50 million listings to help consumers find preowned or refurbished items. This promotes sustainable shopping practices and reduces environmental impact.
Date of Funding: May 27, 2024
Amount Raised: $8.7 million (€8 million, funding round)
Valuation: Not disclosed
Investors: Led by Indico Capital Partners
Aim of Funding: Rows raised $8.7 million to enhance its AI-powered spreadsheet app. The funding will focus on accelerating data integrations, improving AI features, and expanding its presence in key markets, including the U.S., U.K., and Europe. The company aims to revolutionize data workflows for business and marketing professionals with its sleek, cloud-based solution that combines powerful analytics, collaborative tools, and native integrations with marketing and business platforms.
Date of Funding: May 22, 2024
Amount Raised: $300 million (latest funding round)
Valuation: $2 billion
Investors: Led by Index Ventures
Aim of Funding: DeepL raised $300 million to expand its AI-powered translation and writing platform. The funding will support the development of advanced AI solutions like DeepL Write Pro for business writing and adding new languages, bringing the total to 32. The company also plans to expand globally, particularly in the U.S., where it opened its first office in January. With over 100,000 business customers across 63 markets, DeepL aims to maintain leadership in translation quality, precision, and security while enhancing global communication for businesses.
Date of Funding: May 22, 2024
Amount Raised: $16 million (Series A funding round)
Valuation: Not disclosed
Investors: Led by Accel
Aim of Funding: Nory raised $16 million to enhance its AI-powered “restaurant manager” platform. This platform provides data-driven insights to optimize staffing, predict demand, and manage inventory for hospitality businesses. The funds will accelerate product development and support global expansion, extending Nory’s reach beyond Europe and North America. The company aims to centralize restaurant operations through its AI operating system, which promises real-time insights and fast ROI for clients under operational pressures.
Date of Funding: May 21, 2024
Amount Raised: $220 million
Valuation: Not disclosed
Investors: Amazon and Samsung
Aim of Funding: French startup H raised $220 million to develop artificial general intelligence (AGI) capable of matching or exceeding human cognition. Led by ex-Google DeepMind veterans, H aims to integrate advanced AI achievements like language processing, image recognition, and strategic decision-making. The funds will drive research amid global AI competition.
Date of Funding: May 21, 2024
Amount Raised: $1 billion (Series F funding round)
Valuation: $13.8 billion
Investors: Not disclosed
Aim of Funding: Scale AI raised $1 billion to develop its “data foundry,” a framework for enabling AI-ready data abundance. The funding supports the company’s mission to provide the data foundation for artificial general intelligence (AGI). With partnerships including OpenAI, Meta, and the U.S. Department of Defense, Scale emphasizes responsible AI development.
Date of Funding: May 9, 2024
Amount Raised: $20 million (Series B funding round)
Valuation: Not disclosed
Investors: Led by B Capital
Aim of Funding: Sift Healthcare raised $20 million to expand its AI-powered Payments Intelligence Platform. This platform optimizes financial outcomes by integrating clinical and payment data. The funding will enhance AI capabilities, scale the platform, and improve revenue cycle management. Sift aims to drive advancements in healthcare financial operations and patient engagement.
Date of Funding: May 7, 2024
Amount Raised: $200 million (First tranche of initial funding round)
Valuation: $370 million
Investors: Not disclosed
Aim of Funding: Holistic raised $200 million to develop “multi-agent” AI models, in which multiple AI systems collaborate on tasks involving memory, planning, and complex problem-solving. The funding will enhance computing power and AI model training to address current AI limitations and unlock transformative potential across various industries.
Date of Funding: April 11, 2024
Amount Raised: $7 million (Seed funding round)
Total Amount Raised: $12 million (Including pre-seed funding from Primary Ventures)
Investors: Lightspeed Venture Partners, Primary Ventures
Aim of Funding: Tabs raised $7 million in seed funding to scale its AI-powered accounts receivable platform. The funds will expand automation in B2B contract ingestion, invoicing, and payments, reducing financial risks and saving time. The platform aims to cut invoice collection time by 40% and provide valuable insights for finance leaders.
Date of Funding: April 2, 2024
Amount Raised: $21 million
Investors: General Catalyst, Citi Ventures, Human Capital, Rob Bearden, MVP Ventures
Aim of Funding: Datavolo raised $21 million to develop scalable and secure multimodal data pipelines for AI applications. The funding will enhance cloud-native managed services using Apache NiFi to create real-time, secure data sets. Datavolo aims to support enterprises in advancing generative AI applications and expanding data-driven AI solutions.
Date of Funding: March 26, 2024
Amount Raised: $30 million
Investors: Not disclosed
Aim of Funding: Fieldguide raised $30 million in Series B funding to enhance its AI platform and address the shortage of certified public accountants (CPAs). The funds will support new AI capabilities, market expansion, and team growth. Fieldguide automates workflows, helping firms navigate talent shortages and boosting CPA efficiency for higher-value tasks.
Date of Funding: March 25, 2024
Amount Raised: $10 million
Investors: SJF Ventures
Aim of Funding: Iron Sheepdog raised $10 million to expand its technology solution for the short-haul trucking industry. The funds will support market growth and AI integration to improve safety and efficiency. The platform reduces brokers' administrative burdens with features like GPS tracking, real-time analytics, and automated invoicing to enhance industry operations.
Date of Funding: March 12, 2024
Amount Raised: $29 million
Investors: Not disclosed
Aim of Funding: Nanonets raised $29 million in Series B funding to enhance its AI-based workflow automation platform, which automates tasks in finance, accounting, and operations. The funding will reduce time spent on repetitive work, such as invoice processing, and expand the platform’s reach, particularly for small and medium-sized businesses.
Date of Funding: March 5, 2024
Amount Raised: $30 million
Investors: Rockefeller Fintech Innovation Fund (lead investor)
Aim of Funding: Argyle raised $30 million to expand its automated income and employment verification platform. The funding will enhance adoption, improve customer experience, and support services. Argyle provides real-time direct-source data for industries like mortgage and lending, aiming for scalable, reliable verification. The funding will accelerate growth and market presence.
Date of Funding: March 5, 2024
Amount Raised: $3.6 million
Investors: Episode 1 (lead investor)
Aim of Funding: StackOne raised $3.6 million in seed funding to enhance its embedded integration platform-as-a-service (IPaaS) offering. The company plans to invest in AI to improve its unified API solution for the SaaS sector. The funding will support expansion into the U.S., EU, and Australian markets and streamline integration for SaaS companies.
Date of Funding: February 28, 2024
Amount Raised: $13.5 million (Series A)
Investors: Nyca Partners (lead investor)
Aim of Funding: Coverdash raised $13.5 million in Series A funding to expand its embedded insurance offering. The company plans to grow its partner network, strengthen its team, and broaden its insurance carrier panel. Coverdash enables customizable insurance solutions for SMBs via seamless integration, providing access to products like general liability and cyber insurance.
Date of Funding: February 26, 2024
Amount Raised: $12 million (Series A)
Investors: Cercano (lead investor)
Aim of Funding: NLX raised $12 million in Series A funding to develop its AI platform for managing chat, voice, and multimodal conversational applications. The funds will help expand the company's market presence, make strategic hires, and enhance its platform capabilities. NLX’s platform enables global brands to create and analyze AI-driven conversational experiences at scale.
Date of Funding: February 23, 2024
Amount Raised: $675 million
Pre-money Valuation: $2 billion
Investors: Jeff Bezos' Explore Investments, Microsoft, Nvidia, Amazon-affiliated fund, Intel’s venture capital arm, LG Innotek, Samsung’s investment group, Parkway Venture Capital, Align Ventures, ARK Venture Fund, Aliya Capital Partners, Tamarack, Boscolo Intervest, BOLD Capital Partners, OpenAI
Aim for Funding: Figure AI raised additional funds to scale operations and enhance humanoid robotics technology. Its key project, Figure 01, aims to address labor shortages by performing hazardous, repetitive tasks in manufacturing, logistics, and retail industries. The new funds will support further development and testing.
Date of Funding: February 13, 2024
Amount Raised: $12.5 million
Investors: Lightspeed (lead investor)
Aim of Funding: Marqo raised $12.5 million in Series A funding to advance its vector search platform for generative AI applications. The platform improves search, retrieval-augmented generation, and business applications by delivering real-time, hyper-relevant results. The funds will enhance the platform’s accessibility, API, and enterprise-grade solutions for on-prem and cloud use.
Date of Funding: February 7, 2024
Amount Raised: $7 million
Investors: Vertex Ventures Southeast Asia and India (lead investor)
Aim of Funding: Attentive.ai raised $7 million in Series A funding to expand its AI-powered business management platform for construction and landscaping industries. The platform automates workflows like site measurements and scheduling using computer vision and generative AI, saving contractors time. The funds will help scale services to more businesses.
Date of Funding: January 30, 2024
Amount Raised: $150 million
Investors: FTV Capital (lead investor), Nvidia
Aim of Funding: Kore.ai raised $150 million to enhance its conversational and generative AI platform. The funding will support expansion and the development of virtual assistants across IT, HR, and other sectors, such as banking, healthcare, and retail. Kore.ai focuses on safety and flexibility to drive revenue growth and client cost savings.
Date of Funding: January 29, 2024
Amount Raised: $30.5 million
Investors: Not specified
Aim of Funding: Sema4.ai secured $30.5 million to advance its mission of bringing open-source AI to enterprise work. The company aims to redefine knowledge work by developing intelligent agents that enable better collaboration between knowledge workers and AI. Traditionally, AI has struggled to support complex workflows, but Sema4.ai seeks to bridge this gap by allowing AI to manage ambiguity, adapt to changing contexts, and take meaningful actions.
Date of Funding: January 26, 2024
Amount to be Raised: $6 billion
Valuation: Proposed at $20 billion
Investors: Targeted family offices in Hong Kong, sovereign wealth funds in the Middle East, and investors in Japan and South Korea
Aim of funding: Elon Musk’s xAI is raising $6 billion to compete with OpenAI in the generative AI space. The funds will be used to develop AI models for human-like text, images, and code—xAI's first product, Grok, launched in November 2023, leverages real-time X platform data. The startup targets a $20 billion valuation.
Date of Funding: January 22, 2024
Amount Raised: $80 million
Valuation: $1.1 billion (Unicorn status)
Investors: Not specified
Aim of funding: ElevenLabs raised $80 million in Series B funding to develop new products and enhance safety measures for responsible AI technology. The company launched a dubbing studio and a voice library marketplace, allowing users to earn from AI-generated voice replicas. It is focused on ethical AI development and tools to detect AI-generated content.
Date of Funding: January 15, 2024
Amount Raised: €2.2 million ($2.4 million)
Valuation: Not specified
Investors: Thomson Reuters Ventures, Love Ventures, and industry angels
Aim of funding: Detected raised €2.2 million to advance its business onboarding intelligence solution. The company aims to streamline business, customer, and merchant onboarding, addressing a $12 billion annual market. The funding will support technology development and expansion, particularly in the U.S., where Detected opened a new office.
Date of Funding: January 3, 2024
Amount Raised: $26 million
Valuation: Not specified
Investors: Temasek, Quantum Light, Plural Platform, AFG Partners
Aim of funding: Robin AI raised $26 million in Series B funding to accelerate its AI-powered contract analysis tools for the legal profession. The company combines Anthropic’s LLM with proprietary data and machine learning to understand contracts, with plans for global expansion and further growth. This follows a $10.5 million Series A round raised in 2023.
AI funding surged across various sectors, from voice technology to quantum-powered AI, setting the stage for transformative change. Substantial investments are driving innovations in automation, efficiency, and personalization. Companies focus on enhancing AI models, scaling operations, exploring global markets, and reshaping finance, healthcare, and logistics industries. As AI continues to evolve, 2025 promises further breakthroughs, with the potential to revolutionize business operations and societal functions on a global scale.