📌 AI Startups raise $230M+

Today’s 1 min recap:

• Simetrik raises a $55M Series B for financial automation

• Napier raises $57M for financial crime compliance

• PermitFlow raises a $31M Series A to be the "TurboTax for construction permitting"

• Qloo raises a $25M Series C for its consumer insights engine

• Bria raises a $24M Series A for its image generation platform

• Orkes raises a $20M Series A for its microservice orchestration platform

• 6 more rounds caught by my funding tracker

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Top picks

A detailed highlight

→ Simetrik

Amount: $55M 🎉

Round: Series B

Lead Investor: Goldman Sachs Asset Management

Simetrik automates financial tasks (record centralization, reconciliations, controls, reporting, and accounting) using Simetrik Building Blocks (SBBs), which leverage no-code development and generative AI.

Their products streamline complex financial operations, making them more manageable and less prone to errors.

Today, Simetrik operates in over 35 countries and processes over 200 million records daily.

→ Napier

Amount: $57M 🎉

Round: Venture Round

Lead Investor: Crestline

Napier develops AI-powered software for anti-money laundering and financial crime compliance, targeting banking, payments, and wealth & asset management sectors.

Their technology assists in monitoring and identifying suspicious activities, along with regulatory reporting.

The company has grown at 30%+ year on year since 2021.

→ PermitFlow

Amount: $31M 🎉

Round: Series A

Lead Investor: Kleiner Perkins

The PermitFlow platform automates the entire permitting process for construction, from research and application to monitoring and issuance, likened to a "TurboTax for construction permitting."

The company uses LLMs to decipher “obscure” requirements and help users understand what permits they need, making the process faster, more reliable, and less expensive.

→ Qloo

Amount: $25M 🎉

Round: Series C

Lead Investor: AI Ventures

Qloo offers an AI-powered insights engine focussing on understanding consumer tastes across various industries.

Qloo gathers huge amounts of anonymized data from consumers, spanning areas like music, film, television, food, travel, and more. This data encompasses over half a billion attributes.

Businesses access these insights through an API, allowing them to integrate the intelligence into their own applications.

→ Bria

Amount: $24M 🎉

Round: Series A

Lead Investor: GFT Ventures, Intel Capital, Entree Capital

BRIA offers an AI platform that allows enterprises to create tailored visuals at scale.

Key features and capabilities include:

• Customization: Companies can fine-tune BRIA's AI models with their own brand guidelines, data, and visual assets.

• Visual Generation Across Formats: Images, videos, 3D models, and more.

• Control & Compliance: BRIA provides tools and safeguards to manage image generation ethically and responsibly.

→ Orkes

Amount: $20M 🎉

Round: Series A

Lead Investor: Nexus Venture Partners

Orkes simplifies and streamlines the way companies build and scale complex applications, especially those requiring microservices orchestration.

They offer a modern approach to application infrastructure, building on top of the open-source Conductor project, and making it easier to leverage the cloud and integrate AI into applications.

Other Rounds 🤏

Haomo.ai raises a $14M Series B - Autonomous driving for China

TIFIN raises $10M - AI-driven personalization for wealth

VectorShift raises a $3M Seed - AI platform to build search engines, assistants, chatbots, and automations

Evergrowth raises a $2.2M Pre-Seed - AI-driven Account-Based Selling (ABS) platform

Akela Hub raises a $1.1M Seed - AI-driven scouting platform

Firsthand raises an undisclosed Seed - AI agent platform for brands & publishers

Bonus 🔥

For the most curious minds!