AI Funding News: Week Ending 10.27

In this recap, we dive into the latest funding rounds and key acquisitions in the AI space.

This week was a bit slower than normal, but a big increase in acquisitions compared to last.

Let's go:

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1. Arteria AI Raises $30M in Series B Funding - Toronto, Canada - Arteria AI, an applied AI company dedicated to revamping documentation infrastructure for institutional finance, secured $30m in Series B financing.
2. Cranium Raises $25M in Series A Funding - Short Hills, NJ - Cranium, a state-of-the-art AI security firm, successfully raised $25M in Series A funding.
3. 1337 Raises $4M in Pre-Seed Funding - NYC - 1337, a provider of a generative AI platform aiming to bridge niche communities through individualized interests, garnered $4M in Pre-Seed funding.
4. Direqt Raises $4.5M in Funding - Seattle, WA - Direqt, an AI chatbot platform specifically designed for publishers, secured $4.5M in funding.
5. Ignition Raises $8M in Seed Funding - San Francisco, CA - Ignition, an AI-fueled collaboration software for go-to-market teams, raised $8M in Seed funding.
6. LegalMation Raises $15M In Series A Funding - Los Angeles, CA - LegalMation, Inc., a frontrunner in Generative AI solutions for extensive litigation, procured $15m in Series A financing.
7. Castellum.AI Raises $4M in Seed Funding - New York City - Castellum.AI, a global risk data platform provider, successfully secured $4M in seed funding.
8. Eve Raises $14M in Seed Funding - San Francisco, CA - Eve, a tailor-made AI assistant catering to the legal sector, garnered $14m in seed funding.
9. LighthouseAI Closes $4.6M Seed Funding - Los Angeles, CA - LighthouseAI, which excels in providing compliance solutions for the pharmaceutical supply chain, raised $4.6M in Seed funding.
10. Cogito Secures Funding - Boston, MA - Cogito, a company adept at real-time AI coaching and enterprise guidance, raised an undisclosed amount in funding.
11. Basis Raises $3.6M in Funding - NYC - Basis, an innovative AI platform catering to accounting firms, secured $3.6M in funding.
12. Laxis Raises $1.5M in Seed Funding - Indiana - Laxis, an AI assistant tailored for revenue teams, raised $1.5m in seed funding.

EMEA:

1. VisionAI Raises €5M in Seed Funding - Bielefeld, Germany - VisionAI, a startup specializing in AI-driven enhancement for e-commerce merchants' cross-selling, secured €5M in seed funding. The funding round was spearheaded by HV Capital, and saw contributions from Christian Reber, Niklas Jansen, Oliver Flaskämper, and Philipp Westermeyer.
2. L’école AI Secures USD3M in Seed Funding - Paris, France - L’école AI, an innovator in machine teaching technology focused on simplifying engineering complexities in computer vision systems, raised USD3M in Seed funding.
3. Oxolo Closes €13M Series A Funding - Hamburg, Germany - Oxolo, a startup known for its generative AI solutions catering to text-to-video applications, successfully closed a €13M Series A funding round.
4. Klu Raises $1.7M in Pre-Seed Funding - London, UK & San Francisco, CA - Klu, a provider of a large language model (LLM) application platform aimed at building, evaluating, and optimizing AI applications, secured $1.7M in Pre-Seed funding.

Acquisitions 🤝

1. Scenera to Acquire TnM AI Co. - Palo Alto, CA - Scenera, an AIoT data management company, announced its acquisition of TnM AI Co., a Seoul, South Korea-based AIoT firm.
2. SEW Acquires GridExchange - Irvine, CA - SEW, specializing in AI-powered connected customer (CX) and workforce (WX) experience platforms, announced its acquisition of GridExchange from Alectra Utilities Corporation.
3. Teleo Capital To Merge Sharpen Technologies and Plum Voice - Teleo Capital announced its plan to merge Sharpen Technologies, an Indianapolis, IN-based provider of cloud-based contact center software, with Plum Voice, a NY-based leader in AI-powered voice-based customer interaction tech.
4. Databricks to Acquire Arcion - San Francisco, CA - Databricks, a data and AI entity, acquired Arcion, a Databricks Ventures portfolio firm that aids enterprises in data replication across diverse platforms.