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  • 🤯 AI Hype? A 1 month old startup just raised more than $100 million

🤯 AI Hype? A 1 month old startup just raised more than $100 million

Mistral AI, a Paris-based startup that is only four weeks old, recently secured $113 million in seed funding. Founded by former members of Google's DeepMind and Meta.

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At Chief AI Office, our goal is to provide you with the most up-to-date information on fundraising events in A.I. as well as the greatest A.I. tools to help you boost your productivity. With our weekly market updates, you'll stay ahead of the curve.

Top picks from last week 🚀 (June 12th - 18th)

A quick highlight

Mistral AI, a Paris-based startup that is only four weeks old, recently secured $113 million in seed funding. Founded by former members of Google's DeepMind and Meta.

Mistral AI's primary focus lies in the development, training, and application of open-source language models that are only trained on publicly available data to avoid legal issues that other models are now facing.

The startup plans to compete with Open AI and will introduce its initial text-based generative AI models in 2024, targeting enterprise clients and emphasizing open-source solutions. The company has attracted a range of notable investors, including Lightspeed Venture Partners, Redpoint, Index Ventures, Xavier Niel, JCDecaux Holding, former Google CEO Eric Schmidt and others.

Synthesia raises a $90M Series C to make videos with AI avatars

Synthesia, a startup specializing in AI-generated synthetic videos, recently completed a Series C funding round, raising $90 million at a $1B valuation. The round was led by Accel, with participation from Nvidia, Kleiner Perkins, GV, Firstmark Capital, and MMC.

One of Synthesia's key technologies enables users to create realistic avatars suitable for both pre-recorded and live videos. These avatars have been widely utilized by businesses for training, marketing, and customer service purposes. With the influx of new funding, Synthesia plans to expand its product offerings and target new markets.

As more businesses transition to virtual interactions, the need for personalized and engaging video content has surged. Synthesia's avatars provide an efficient and cost-effective solution, eliminating the need for laborious and expensive video production.

Primer, an AI/ML firm specializing in data analysis, raised $69 million in a Series D round led by Addition. The funding will accelerate product development, team growth, and go-to-market efforts.

Primer's AI-powered technology aids government agencies and Fortune 500 companies in deciphering vast data sets.

Their offerings include Primer Delta, a knowledge base analyzing millions of documents in seconds, and Primer Command for building and deploying AI models. Their technology supports mission-critical applications like counter-terrorism, cybersecurity, and financial fraud detection.

Paro raised $25 million in Series C funding led by Top Tier Capital Partners, with participation from existing investors Madrona Venture Group, Revolution Ventures, and Sierra Ventures.

Paro's platform connects businesses in need of finance and accounting services with freelance experts in the field like Fiverr for accountants.

Through their proprietary AI-matching software, the company ensures the right professionals are assigned to appropriate tasks, delivering optimal service quality to businesses. With rising demand for on-demand finance and accounting services & an easy-to-use platform and a comprehensive range of services, Paro is well-poised for growth as more businesses outsource their financial needs.

WAVs AI, an artificial intelligence (AI) music streaming platform, raised $20M from Regal Investments, a global investment firm.

WAVs AI uses AI to personalize music recommendations for users. The platform analyzes a user's listening history, preferences, and mood to create a personalized playlist of songs that the user is likely to enjoy. WAVs AI also offers a variety of other features, such as the ability to discover new music, learn about artists, and connect with other music lovers.

Other Events 📢

  • Responsible AI UK, an international research and innovation ecosystem for responsible and trustworthy AI gets a $34M grant. Read more

  • Blackbird AI, an AI-Driven Risk Intelligence Platform Raises a $20 Million Series B. Read more

  • Humanly.io, a conversational AI that engages with every single candidate, raises a $18M Series A.

  • Deepchecks secures a $14M Seed round to Expand Open-Source ML Monitoring Suite. Read more

  • SiMa.ai raises $13M to Expand Edge ML Capabilities. Read more

  • AptEdge raises a $11M Seed round to expand AnswerGPT™, Its AI-Powered Customer Care Solution. Read more

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