AI Startups Raised Over $600 Million Last Week, Our Top 5 Picks
In a dynamic week for the tech industry, artificial intelligence startups have emerged as frontrunners, securing over $600 million in funding. The fervor surrounding AI innovation continues to attract substantial investments, signaling a robust ecosystem eager to harness the potential of cutting-edge technologies.
As we delve into the highlights of the past week, we present our top five picks among the AI startups that have successfully navigated the competitive landscape and secured significant financial backing.
Lightmatter Raises $155 Million
Lightmatter, the Boston-based startup specializing in silicon photonics computing hardware tailored for generative AI and high-performance computing applications, announced an additional $155 million in “series C-2” support, the funding was spearheaded by industry giants Google Ventures and Viking Global Investors.
This follows a similarly impressive funding effort earlier this year, bringing Lightmatter’s total fundraising to an impressive $420 million. With an eye on expansion, the company, currently amid an extensive hiring initiative, plans to further bolster its workforce. An important move on the list is the establishment of a new office in Toronto slated for the coming year, adding to its existing locations in Boston and Mountain View, California.
GreyOrange Raises $135 Million
GreyOrange, the U.S.-based leader in AI-driven automation for retail and e-commerce fulfilment centers, secured $135 million in its latest Series D funding round, spearheaded by Anthelion Capital (formerly Cowen Sustainable Investments).
This influx of capital will be used to propel the company’s global expansion efforts and bolster the adoption of its advanced fulfilment orchestration platform. GreyOrange aims to deploy cutting-edge robotic and sensing technologies in warehouses, distribution centers, and retail stores, solidifying its position at the forefront of innovative solutions in the automation landscape.
Harvey Raises $80 Million
Harvey, the generative artificial intelligence startup specializing in the legal realm, announced the raising of a $80 million Series B funding round. The funding was a joint effort led by Elad Gil and Kleiner Perkins, featuring notable participation from OpenAI‘s startup fund, the brains behind the widely used ChatGPT AI chatbot, and Sequoia.
In a partnership with OpenAI, Harvey has pioneered domain-specific foundation models tailored to address the intricate needs of its clientele, advancing the frontiers of applied AI within professional services. The Series B funding will be instrumental in Harvey’s ambitious plans to expand custom model development, scale its team, and enhance its suite of product features.
Meltwater Raises $65 Million
Meltwater, known for its expertise in media monitoring and business intelligence through the integration of AI and big data analytics, is set to embark on a new chapter. Verdane, a Norwegian private equity firm, is acquiring an 11% stake in Meltwater, propelling the company’s valuation to a substantial $592 million, with the stake valued at around $65 million.
This investment will help the startup to strengthen its position in the realm of AI and big data analytics within the dynamic field of media intelligence. The evolution of Meltwater from traditional media monitoring to AI-powered analytics underscores the shift in data processing and utilization in the digital era.
Unnatural Products Raises $32 Million
Santa Cruz’s Unnatural Products, a cutting-edge biotech firm at the intersection of AI and chemistry for precision-targeted therapeutics, has successfully secured a noteworthy $32 million in its Series A funding round. With a strategic vision in mind, Unnatural Products plans to leverage these funds to propel the evolution of its technology platform.
Moreover, the company aims to diversify its focus, extending beyond the realm of oncology and exploring new opportunities within the ever-expanding landscape of biotechnology.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
More articles
Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
