📌 17 AI Startups raise $1B+

Today’s 1 min recap:

• MiniMax raises a $600M Series B to build large scale AI models

• RapidSOS raises a $150M Series C for its public safety response platform

• Overjet raises a $53.2M Series C for its dental AI platform

• Taalas raises a $50M Series A for its direct-to-silicon foundry

• io.net raises a $30M Series A for its decentralized GPU network

• Multiverse Computing raises a $27M Series A to build quantum computing for AI

• Ema raises a $25M Seed for its universal AI employee

• 10 more rounds caught by my funding tracker

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Top picks

A detailed highlight

→ MiniMax

Amount: $600M 🎉

Valuation: $2.5B

Round: Series B

Lead Investor: Alibaba Group

MiniMax is a Chinese company building large-scale AI models and solutions similar to ChatGPT.

→ RapidSOS

Amount: $150M 🎉

Round: Series C

Lead Investor: BlackRock, NightDragon

RapidSOS enhances public safety with AI by integrating real-time data from connected devices into emergency response systems.

→ Overjet

Amount: $53.2M 🎉

Valuation: $550M

Round: Series C

Lead Investor: March Capital

Overjet offers an AI platform that improves disease diagnosis in X-rays, patient oral health education, and dental insurance claim review. It is FDA-cleared for detecting, outlining, and quantifying oral diseases with precision.

The platform's AI analyzes dental X-rays and identifies areas of potential concern such as cavities, bone loss, dental diseases, etc.

→ Taalas

Amount: $50M 🎉

Round: Series A

Lead Investor: Eclipse Ventures, Quiet Capital

Taalas aims to achieve a 1000x improvement in computational power and cost efficiency for AI.

To do this, they are developing an automated flow for implementing deep learning models (Transformers, SSMs, Diffusers, MoEs, etc.) directly into silicon, which could outperform a small GPU data center without needing external memory.

The company is taping out its first large language model chip in Q3 2024 and planning to make it available to early customers in Q1 2025.

→ io.net

Amount: $30M 🎉

Valuation: $1B

Round: Series A

Lead Investor: Hack VC

io.net is building the largest decentralized GPU network to solve the AI compute shortage.

They are building on the Solana and aggregate GPU resources for AI and ML companies, aiming to offer these services at lower costs and faster lead times.

io.net was launched last November and claims to have grown to over 25,000 GPUs and processed over 40,000 compute hours for AI and ML companies.

→ Multiverse Computing

Amount: $27M 🎉

Valuation: $110M

Round: Series A

Lead Investor: Columbus Venture Partners

Multiverse Computing leverages quantum computing for AI and optimization applications.

Their platform Singularity applies quantum principles to improve modeling and predictive applications across multiple industries and compress LLMs by up to 80%, enhancing computational efficiency.

→ Ema

Amount: $25M 🎉

Round: Seed

Lead Investor: Accel, Prosus Ventures, Section 32

Ema is creating a universal AI employee that can automate mundane tasks and improve work efficiency.

Ema activates specialized Personas tailored to assist employees in specific roles and leverages a "fusion of experts" model, EmaFusionTM, that exceeds 2 Trillion parameters and intelligently combines many LLMs like Claude, Gemini, Mistral, Llama2, GPT4, and Ema's custom models.

Other Rounds 🤏

Metaplane raises a $13.8M Series A - Automated end-to-end data observability

Haiper raises a $13.8M Seed - Foundation models for video/3D content creation

RIOS raises a $13M Series B - AI-powered robotics to simplify complex manual processes

Fluent raises a $7.5M Seed - AI-powered data analyst

Tollbit raises a $7M Pre-Seed - Monetize scraped data

Theia Insights raises a $6.5M Round - Foundational AI for the global investment industry

Sahara AI raises a $6M Seed - Decentralized AI network to freely and securely deploy autonomous AI

Springbok Analytics raises a $1.7M Grant - AI-powered muscle analytics

SevnAI raises a $0.5M Pre-Seed - AI copilot for graphic design

Un:hurd raises an undisclosed Round - AI-powered marketing tool for musicians

Bonus 🔥

For the most curious minds!