The third quarter of 2023 has been a buzzing period for AI investments, with companies amassing a staggering amount exceeding $10 billion – a figure that mirrors the previous quarter's momentum, as highlighted by Gené Teare.
From Databricks' data-centric solutions to Hugging Face's push for open-source NLP and Genesis Therapeutics merging biotech with AI, the spectrum of AI applications is vast. Visa even announced investing a $100M Generative AI.
Some key takeaways:
- Diverse Applications of AI: The companies listed span a wide range of applications, from Databricks with its unified analytics platform, Hugging Face's open-source library for natural language processing, to Genesis Therapeutics leveraging AI for drug discovery and OpenAI competitor, Anthropic.
- AI Companies Focus on Improving and Expanding: The end-goals are to bolster research & development activities, enhance technological capabilities, expand market presence, and serve clients better. This highlights the forward-thinking and expansive nature of AI-driven companies and their commitment to innovation and betterment.
- Location: Most of the companies raising over $100M are based primarily in the USA (CA more specifically)
For this post we picked all funding over $100M in Q3 (July-Sept):
- Databricks - Over $500M, San Francisco, CA- Databricks is a leading Data and AI company located in San Francisco, California. They recently secured an impressive amount of over $500 million in their Series I funding round. Databricks is acclaimed for its unified analytics platform that simplifies data science and collaborative processes.
- Hugging Face - $235M, NYC and Paris - Hugging Face, with bases in both New York City and Paris, recently gathered $235 million in Series D funding. Renowned for its open-source library for natural language processing, Hugging Face aims to democratize AI for everyone. This capital influx will propel their mission even further.
- Helsing - €209M, Series B, Munich, Germany - Helsing, is a defense AI company. They recently secured an impressive €209 million in their Series B funding round. As a leader in the defense AI sector, this capital will likely propel Helsing's advancements in safety and intelligence systems.
- Imbue (fka Generally Intelligent) - $200M, San Francisco, CA - Imbue, formerly known as Generally Intelligent, recently amassed $200 million in funding. Positioned at the forefront of machine learning research and development, they are committed to understanding intelligence and augmenting human potential. This new funding will reinforce their mission and R&D activities.
- Genesis Therapeutics - $200M, Burlingame, CA - Genesis Therapeutics, known for its blend of biotechnology and artificial intelligence, recently secured $200 million. They are dedicated to reimagining drug discovery using AI, and this infusion of capital will catalyze further breakthroughs in the pharmaceutical landscape.
- AI21 Labs - $155M, Tel Aviv - AI21 Labs, stationed in Tel Aviv, recently amassed $155 million in their Series C funding. This AI firm is at the forefront of creating large language models and pushing the boundaries in AI research. Their new funding will bolster ongoing projects and pave the way for novel innovations.
- o9 Solutions - Additional $116M, Dallas, TX - o9 Solutions, an enterprise AI software platform provider headquartered in Dallas, Texas, managed to raise an additional $116 million in funding. The company specializes in bringing transformative solutions to businesses across sectors, and this fresh round of financing will enhance their capacity to innovate and serve clients.
- d-Matrix - $110M, Santa Clara, CA - d-Matrix specializes in generative AI compute for data centers, particularly digital in-memory computing (DIMC) solutions for transformer and generative AI inference acceleration.
- Pryon - $100M, Raleigh, NC - Pryon, a leader in enterprise AI and automation, recently raised $100 million. Their platform facilitates businesses in leveraging AI-driven solutions for improved efficiency. This fresh capital will undoubtedly accelerate their roadmap and benefit their clientele.
- Writer - $100M, San Francisco, CA - Writer, a prominent name in AI-driven content generation, recently secured $100 million. They specialize in producing brand-compliant content at scale. This new influx of funding will enhance their technology and service delivery.
- Modular - $100M - Modular, an innovative tech startup, recently amassed $100 million. While details on their specialization are not provided, with this kind of funding, it's evident that they are poised for significant growth and expansion in their niche.
- Anthropic - $100M, San Francisco, CA - Anthropic, which focuses on researching the safety and robustness of artificial general intelligence, recently garnered $100 million. Their goal is to make AI systems more reliable and aligned with human values. This funding will support their essential research endeavors. Amazon recently agreed to invest up to $4 billion in Anthropic.
- Tenstorrent - Toronto, Canada - $100M - Tenstorrent, a company dedicated to improving machine learning efficiency and flexibility, recently acquired $100 million. Their work centers around hardware and software co-design to revolutionize AI computing. This funding will bolster their R&D and market presence.
- Prins AI - $100M - Prins AI recently secured $100 million in its Series B funding round. They are focused on pioneering digital identity technologies, ensuring safer and more efficient online interactions for users. With this fresh capital, Prins AI is poised to further refine its innovative solutions and solidify its position as a leader in the digital identity realm.