📌 11 AI Startups raise $180M+

BONUS: Accel Euroscape 2024

October 18, 2024

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TODAY’S FUNDING RECAP 🗓️

  • Earth Species Project raises a $17M Grant — ChatGPT for animal communication

  • Abel raises a $5M Seed — AI to create police reports

  • Simplismart raises a $7M Seed — MLOps platform

  • Kick raises a $9M Seed — Self-driving bookkeeping

  • Dottxt raises a $8.7M Seed — LLM output control

  • 2 more rounds caught by my funding tracker

Read time: 3 minutes

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TOP PICKS 📢

1/5

Amount: $17M 🎉

Round: Grant

Lead Investor: Reid Hoffman

ESP is building a foundational AI model akin to ChatGPT, but for animal communication.

Their initial version of this model was released in 2022. The model uses machine learning techniques, such as embeddings, to identify patterns in animal vocalizations across species, even when the meaning behind these sounds is not fully understood. Their research spans various species, including whales, crows, and finches.

2/5

Amount: $5M 🎉

Round: Seed

Lead Investor: Day One Ventures

Abel uses AI to automate the creation of police reports.

By processing data from body cam footage and dispatch calls, Abel generates first drafts of reports, which officers can later review and edit. This system reduces the time needed for paperwork, particularly in complex scenarios like car chases, where traditional reports are lengthy and involve detailed steps of the pursuit.

3/5

Amount: $7M 🎉

Round: Seed

Lead Investor: Accel

Simplismart is an MLOps platform that accelerates AI model fine-tuning, deployment, and observability.

Their platform allows enterprises to deploy open-source models by leveraging a software-optimized inference engine that achieves a throughput of 501 tokens/sec on the Llama3.1 8B model for example. This engine boosts performance and enhances infrastructure utilization through rapid scaling and optimized model-GPU interaction.

Notably, the company has tripled revenue in the last 4 months to reach a $1M ARR.

4/5

Amount: $9M 🎉

Round: Seed

Lead Investor: OpenAI Startup Fund, General Catalyst

Kick offers a self-driving bookkeeping platform powered by AI.

Business owners link their bank and credit card accounts to the platform, and Kick pulls in all the transactional data, categorizes it in real time, and allows users to review any flagged transactions. Kick also provides tax-ready financial reports and other insights into profitability, spending, and other financial metrics.

5/5

Amount: $8.7M 🎉

Round: Seed

Lead Investor: EQT Ventures

Dottxt offers a structured generation solution that allows developers to control and guide the outputs of AI models.

Their platform ensures that AI models produce responses that adhere to specific formats or grammars, enabling more predictable and useful results in enterprise applications. The company’s product also includes sophisticated tools for guiding LLM outputs, making it easier for developers to integrate AI into software systems without relying on crude prompt engineering.

OTHER ROUNDS 🤏

ESSENTIAL INTRODUCTIONS

→ Terray Therapeutics raises a $120M Series B — AI-powered drug discovery

→ Zerve raises a $7.7M Seed— Data science & AI development platform

→ Clerk Chat raises a $7M Seed— Build and deploy AI agents across messaging channels

→ Fully Ramped raises a $2.3M Pre-Seed— Train sales reps faster with AI role-play

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FOR CURIOUS MINDS

Euroscape 2024: Get the Definite AI and Cloud Market report

Download the Accel 2024 Euroscape report to read more on this year's key cloud and AI trends and see the full list of the 100 companies to watch.

www.accel.com/euroscape

THAT’S IT FOR TODAY

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