Top Artificial Intelligence Funding and Investment in August 2020

by August 25, 2020

Artificial Intelligence

VC funding in AI startups is seeing a slow momentum as a result of COVID-19.  

In recent years, the growing crops of startups that leverage artificial intelligence and other advanced technologies have ascended dramatically. As a result, the VC funding and investments in these startups are becoming historically strong year over year. Despite slow VC deals due to the COVID-19 crisis this year, the interest in AI funding is seeing a sustained momentum.

Let’s go through top artificial intelligence investment and funding in August 2020.

 

Atomwise

Amount Funded: US$123 million

Transaction Type: Series B

Lead Investor(s): B Capital Group, Sanabil

Atomwise, a San Francisco, CA-based startup that uses artificial intelligence to stimulate drug discovery, raised US$123 million in Series B funding round. This funding round was led by B Capital Group and Sanabil Investments, along with included returning investors DCVC, BV, Tencent, Y Combinator, Dolby Family Ventures, and AME Cloud Ventures. According to reports, the company plans to utilize the new funds to help it further scale the largest AI-driven drug discovery portfolio in history and expand its over US$5 billion deal pipeline for small molecule drug discovery.

 

Dataiku

Amount Funded: US$100 million

Transaction Type: Series D

Lead Investor(s): Stripes

Dataiku, a New York-based centralized data platform, which moves businesses along their data journey from analytics at scale to enterprise AI. On August 24, the company secured US$100 million in Series D funding round that will allow it to expand its platform and offerings to support this worldwide acceleration in Enterprise AI efforts. Led by Stripes with Tiger Global Management joining existing investors Battery Ventures, CapitalG, Dawn Capital, FirstMark Capital, and ICONIQ, the investment comes at a time where hundreds of customers find more value than ever before in Dataiku’s offerings.

 

Exo

Amount Funded: US$40 million

Transaction Type: Series B

Lead Investor(s): Action Potential Venture Capital, Fiscus Ventures, Reimagined Ventures

Exo is a medical device start-up that develops handheld ultrasound devices and AI for imaging and therapeutic applications. On 20th August, the company closed US$40 million in additional Series B funding round for its AI-driven sonography technology. Exo raised its initial Series B funding of US$35 million in August 2019. According to the company, the new fund will be used for research and development of its piezoelectric micromachined ultrasound transducers technology and AI-driven software.

 

iKala

Amount Funded: US$17 million

Transaction Type: Series B

Lead Investor(s): Wistron Corporation

iKala, a Taiwan-based Asia’s leading human-centred AI company, which offers an artificial intelligence-based customer acquisition and engagement platform. The company recently sealed a US$17 million in Series B funding round, which brings its total funding valuation to US$30.3 million. The round was led by Wistron Digital Technology Holding Company, the investment arm of the electronics manufacturer, with additional participation from returning investors Hotung Investment Holdings Limited and Pacific Venture Partners. iKala will use this new fund to expand into new markets such as Indonesia and Malaysia, and increase in markets where it already operates, including Singapore, Thailand, Hong Kong, the Philippines, Vietnam and Japan.

 

Octane AI

Amount Funded: US$4.3 million

Transaction Type: Venture round

Lead Investor(s): Bullpen Capital

Octane AI, a real-time marketing platform, which enables brands to run marketing campaigns on Facebook Messenger, SMS, and on-site. As it builds technology that every merchant and business can use to improve the customer experience and increase their sales and revenue, the company clinched US$4.24 million in a venture round, led by Bullpen Capital with additional participation from General Catalyst Partners, Boost VC, FJ Labs and others. Merchants use Octane AI to connect, convert, and retain customers by personalizing the customer journey and giving customers the confidence to purchase.

 

SewerAI

Amount Funded: US$2 million

Transaction Type: Seed funding

Lead Investor(s): Builders VC, EPIC Ventures

SewerAI, which leverages artificial intelligence, computer vision, and a cloud workflow platform to automatically detect pipeline defects, received US$2 million in a seed funding round. Led by Builders VC and EPIC Ventures, the company use this new fund for AI to analyse sewer infrastructure defect. SewerAI’s ground-breaking AI, cloud-enabled software AutoCode™ significantly enhances and expedites sewer infrastructure inspections.