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- π 16 AI Startups raise $600M+
π 16 AI Startups raise $600M+
BONUS: SaaS insights from SaaStr
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TODAYβS RECAP ποΈ
EvolutionaryScale raises a $140M Seed β AI models for proteins
Etched raises a $120M Series A β AI chip for transformer models
Norm AI raises a $27M Series A β AI agents for compliance teams
Stability AI raises a $80M Round β AI model development
Created by Humans raises a $5M Round β AI rights licensing
11 more rounds caught by my funding tracker
Read time: 3 minutes
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TOP PICKS π’
1/5
Amount: $142M π
Round: Seed
Lead Investor: Daniel Gross, Lux Capital, Nat Friedman
EvolutionaryScale builds generative language models for proteins.
Theyβve trained ESM3, the largest biological language model to date which they used to discover a new fluorescent protein that is responsible for the glowing of Jellyfish.
The model was trained on a dataset of 2.78B proteins and can reason over the sequence, structure and function of proteins.
2/5
Amount: $120M π
Round: Series A
Lead Investor: Positive Sum, Primary Venture Partners
Etched has developed Sohu, the world's first AI chip (ASIC) for running transformer models.
One 8xSohu server can serve over 500,000 Llama 70B tokens per second, offering an order of magnitude improvement in speed and cost efficiency compared to traditional GPUs.
3/5
Amount: $27M π
Round: Series A
Lead Investor: Coatue
Norm AI converts regulations and corporate policies into decision trees, which are then transformed into executable computer programs called Regulatory AI Agents.
The platform supports various regulatory assessments and provides clear, actionable explanations for compliance findings, allowing users to self-serve initial compliance reviews and finalize content evaluations quickly.
4/5
Amount: $80M π
Round: Venture Round
Stability AI develops AI models, with its most notable product being the Stable Diffusion image generator.
The funding acts as a lifeline for the company which has faced significant financial struggles, including mounting debt and disappointing revenue figures.
These financial challenges led to a leadership change, with Prem Akkaraju, former CEO of Weta Digital, stepping in as the new CEO.
5/5
Amount: $5M π
Round: Venture Round
Lead Investor: Craft Ventures, Floodgate Fund
Created by Humans is building an AI rights licensing platform that allows authors and creators to license their work to AI companies for training purposes.
The platform offers tools to monitor the usage of their content, request takedowns of unauthorized use, and set limitations on how their material can be used in AI models.
OTHER ROUNDS π€
ESSENTIAL INTRODUCTIONS
β Bright Machines raises a $106M Series C β AI-powered manufacturing and robotics
β LiveEO raises a $27M Series B β AI-powered satellite data to manage climate risk
β Affinda raises a $10M Round β Document processing workflows with AI
β Upword raises a $3M Pre-Seed β AI research assistant
PITCH DECKS & TOOLS βοΈ
New Pitch Decks
Zing Coach $10M Series A - AI fitness coach to personalize health and fitness training plans
Decagon $35M Series A - AI customer support agents for enterprises
Trending Business Tools
BONUS π₯
FOR CURIOUS MINDS
Asana has been hit the hardest by the B2B2B downturn
- At $600m ARR, it was growing 34%
- Today, at $700m ARR, itβs growing just 19%
- And next year β¦ it projects growth of < 10%5 Interesting Learnings:
β Jason β¨πΎSaaStr.AI Sept 11β¨ Lemkin (@jasonlk)
6:05 PM β’ Jun 23, 2024
THATβS IT FOR TODAY
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Cheif AI Officer (CAIO)
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