🧠 AI Startups are picking niche verticals

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Top picks from last week 🚀 (July 10 - 16th)

A quick highlight

Causaly AI

Amount: $60M

Round: Series B

Valuation: Undisclosed

Causaly, a London-based startup, was founded by CEO Yiannis Kiachopoulos and CTO Artur Saudabayev. The company's mission is to accelerate drug development and testing through its AI platform. With a focus on assisting researchers, Causaly aims to provide comprehensive insights and connections between biomedical concepts to streamline the drug discovery process.

Causaly's product is a cloud-based AI platform that supports researchers in various stages of drug development. By leveraging artificial intelligence, the platform aids in identifying research targets, determining specific biomarkers, and improving the understanding of diseases. Its advanced computational capabilities enable faster modeling and computations, reducing false starts and optimizing efficiency. The end users of Causaly's platform are pharmaceutical companies, medical research organizations, and researchers. The platform addresses the challenges of information overload and inefficiencies in biomedical research, ultimately helping researchers make informed decisions and accelerating the discovery of new treatments and therapies.

CarePredict

Amount: $29M

Round: Series A

Valuation: Undisclosed

CarePredict is an AI-powered senior-focused digital health company founded by Satish Movva. The company's mission is to enable seniors to live independently, safely, and comfortably in their own homes for as long as possible.

CarePredict offers an AI-enabled platform for senior care that integrates wearable technology, indoor location tracking, deep machine learning, and predictive analytics. Their flagship product, Tempo wearable, utilizes sensors to monitor and detect activities of daily living such as bathing, drinking, eating, toileting, walking, and sleeping. It also features a touch-button call system for communication with caregivers and provides precise indoor location information. Additionally, when paired with a door lock, Tempo can act as a key to unlock doors.

The end users of CarePredict's platform are seniors who desire to maintain independence in their own homes. The company's solution addresses the challenge of seniors facing health and safety concerns that limit their ability to live independently. By leveraging early detection of potential health issues through data analysis, CarePredict enables timely intervention and support for seniors, promoting their well-being and allowing them to age in place comfortably.

Jirav

Amount: $20M

Round: Series B

Valuation: Undisclosed

Jirav is a San Francisco-based startup founded by Martin Zych and Steve Turner. The company's mission is to provide comprehensive, automated accounting and financial model solutions to help businesses succeed.

Jirav offers an all-in-one, driver-based financial planning and analysis (FP&A) software. Their platform streamlines budgeting, reporting, and dashboarding, making it easier for businesses with 5 to 500 employees to plan and forecast in alignment with their goals. By connecting accounting, workforce, and operational data to the platform, companies can create budgets, scenario plans, and analyze changes in their business.

Jirav's end users are small- and medium-sized companies and accounting firms. The platform addresses the problem of businesses lacking an automated, cloud-based solution to manage their financials and support their financial models. Many businesses rely on legacy tools with outdated architectures, resulting in siloed and cumbersome processes that hinder their ability to measure and plan for changes in a holistic manner.

Nomic AI

Amount: $17M

Round: Series A

Valuation: $100M

Nomic AI, based in New York, is an AI startup founded by Andriy Mulyar. The company's mission is to establish a collaborative and open-source ecosystem for generative AI.

Nomic has developed two products. The first is GPT4ALL, an open-source large language model similar to ChatGPT, which can be freely downloaded and run on small devices. Their second product, Atlas, enables the visualization of unstructured datasets for the development of other language models. Nomic's target users are developers seeking access to powerful AI models without relying on proprietary ones. By offering open-source AI models, Nomic aims to address issues of transparency and concentration of power in the hands of a few companies with exclusive access to compute resources.

Pano AI

Amount: $17M

Round: Seed

Valuation: $100M+

Pano AI is a San Francisco-based startup founded by Sonia Kastner. The company's mission is to offer a fully-managed solution for active wildfire detection using artificial intelligence.

Pano AI's system involves deploying remote-controllable cameras on mountaintops to monitor the surroundings. An AI analyzes the captured video footage, specifically searching for signs of smoke and fire. The system immediately raises an alarm upon detecting potential threats. Power utilities, private landowners, and government firefighting agencies are the end users of Pano AI's solution. By providing early detection and accurate alerts, Pano AI aims to help emergency responders take timely action and prevent the spread of wildfires.

AI4Bharat

Amount: $12M

Round: Seed

Valuation: Undisclosed

AI4Bharat, an India-based AI research organization, is set to raise $12 million in seed funding for its new startup, Sarvam. Founded by experts in AI models for speech recognition and translation, Sarvam aims to develop custom-made large language models (LLMs) tailored for India-centric use cases.

AI4Bharat recently unveiled a mobile assistant for accessing information on government schemes in multiple languages. The funding round, led by Peak XV and Lightspeed Venture, reflects the growing interest in generative AI following OpenAI's success with ChatGPT.

Sarvam's product focuses on creating LLMs specific to Indian needs, enabling more accessible and contextually relevant AI interactions. The end users of their technology would include individuals, businesses, and government agencies seeking AI-powered virtual assistants for language processing tasks. By building India-centric LLMs, Sarvam aims to address language barriers and provide efficient solutions for information retrieval and communication across various sectors in the country, ultimately enhancing user experiences and accessibility.

Other Events 📢

• Vendict AI raises a $9.5M Seed to automate security questionnaire responses

• Recruitbot raises a $8.2M seed to match with the right talent 5x faster, automate outreach, and collaborate on candidates

• Resemble AI raises an $8M Series A to build a enterprise ready Generative Voice AI Toolkit

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