Edition #26: AI Startups Soar in 2024 with over $35.5 billion invested

Date: 22-July-2024

Hey AI leader,

Thank you for subscribing to the One More Thing in AI Newsletter.

This is specially curated for Startup founders and Business Leaders like you who want to get smarter about AI in less than 5 minutes. This special edition contains a specially curated list of startups with a ton of funding.

I am sending this first to my email subscribers! Why study the list? Because it will give you good ideas to pursue as you build your AI solutions in your startup or business.

Founders: In case you get inspired by this list and want to stress test your AI startup idea:

I hope you enjoy reading this special edition. Keep learning and applying AI.

Best regards,

Renjit

In this edition:

•  🚀 AI Startups Soar in 2024! 🚀 

  • 1. xAI - $6B Series B 🏆

  • 2. Scale AI - $1B Series F 🌟

  • 3. CoreWeave - $1.1B Series C 🔧

  • 4. AlphaSense - $650M Series F 📊

  • 5. Figure - $675M Series B 🤖

 🚀 AI Startups Soar in 2024! 🚀 

The first half of 2024 has been phenomenal for AI startups, with over $35.5 billion invested globally. 🌐 Out of these, 28 US-based AI startups raised $100M or more. Here are some highlights that caught my eye: 

1. xAI - $6B Series B 🏆

   - Building a platform to accelerate human scientific discovery.

   - Investors: Sequoia, Valor Equity Partners, Fidelity.

2. Scale AI - $1B Series F 🌟

   - Providing data-labeling services for AI model training.

   - Investors: Accel, Tiger Global, Amazon. 

3. CoreWeave - $1.1B Series C 🔧

   - GPU infrastructure provider for tech companies.

   - Investors: Coatue, Fidelity, Altimeter Capital.

4. AlphaSense - $650M Series F 📊

   - Market intelligence platform.

   - Investors: Viking Global Investors, BDT & MSD Partners, CapitalG.

5. Figure - $675M Series B 🤖

   - AI robotics startup.

   - Investors: Nvidia, OpenAI, Microsoft.

Other notable mentions include Hebbia, Skild AI, Bright Machines, Etched.ai, and more, each innovating in healthcare to robotics, securing significant funding to revolutionize their respective industries.

This surge in investment underscores the relentless momentum of AI innovation. Or is it irrational exuberance? Either way, exciting times are ahead! 🚀💡

The first part of the deck is attached below for you to download (see the Download section below) and share the deck if you wish!