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- 📌 AI Startups raise $26M
📌 AI Startups raise $26M
BONUS: 2023 AI Timeline
Happy New Year! I hope everyone had a great break & is ready to get back to non-stop AI fundraising action. I’ll be covering it all :)
Today’s recap:
Robin AI raises a $26M Series B for legal tech
2023 AI Recap
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Top picks
A detailed highlight
Amount: $26M 🎉
Round: Series B
Lead Investor: Temasek Holdings
The mission of Robin AI is to make legal services more accessible and efficient.
Their copilot, available as an AI-powered Microsoft Word add-in, is designed to significantly speed up contract review processes. By using advanced AI models like Anthropic's Claude 2.1 LLM, it offers a substantial 85% improvement in efficiency, thereby solving critical challenges in legal document analysis and drafting, especially for large clients like PepsiCo and PwC.
2023 Recap 🤏
Fundraising Recap
2023 was about AI Startups. Here's a recap
Generative AI helped funding activity in AI startups stay above pre-covid levels
Stats:
Q1 - $15.2B & 574 deals
Q2 - $9.4B & 614 deals
Q3 - $8.3B & 501 deals
Q4 - TBDTakeaways:
> Closed-source foundational model startups saw… twitter.com/i/web/status/1…
— Chief AI Officer (e/acc) (@chiefaioffice)
6:57 PM • Dec 25, 2023
Fundraising Recap by round
The largest AI startup rounds in 2023
The majority of deal volume was in the early stages - Seed, Series A, Series B
Multiple rounds in 1 year were very common - Mistral, Together AI, Typeface, Anthropic, etc
— Chief AI Officer (e/acc) (@chiefaioffice)
9:12 PM • Jan 2, 2024
A nice report from Coatue on the whole sector
Bonus 🔥
For the most curious minds!
This year, I watched AI change the world in real time.
From what happened, I have no doubts that the coming years will be the most transformative period in the history of humankind.
Here’s the full timeline of AI in 2023 (January-December):
January 15: ChatGPT becomes the… twitter.com/i/web/status/1…
— Rowan Cheung (@rowancheung)
6:01 AM • Dec 29, 2023
You did it! It’s over for now.
I’ll see you next time.
Thanks for reading.
I would love to know how you would rate this newsletter on a scale of 1-5 by replying to this email (feedback also helps!)
My X: @chiefaioffice
Cheers,
Chief AI Officer (CAIO)
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