📌 AI Startups raise $40M+

Today’s 1 min recap:

• Recraft raises a $12M Series A for a graphic design foundational model

• Briq raises a $8M Series A to automate financial workflows for the construction industry

• PredictAP raises a $8M Series A to automate invoice ingestion & coding for AP in real estate

• Heex Technologies raises a $6.5M Seed for relevant data extraction

• Alphathena raises a $4M Seed for an indexing platform to personalize investment strategies

Together with IMAGINE AI LIVE 24

The world's first Enterprise AI conference: March 27-28, 2024

Imagine AI Live, the world's first cross-industry conference on Enterprise AI, is set to take place on March 27-28, 2024, at the Fontainebleau Las Vegas.

This two-day event offers a unique opportunity to connect with global AI leaders and discover the best enterprise-grade AI tools.

The conference will feature:

• Live demonstrations.

• Immersive sessions on topics such as AI Creative Flow Automation, personalizing user experience with AI, and the future of work with AI.

• Luminary speakers from the generative AI scene.

Whether you're an AI company looking to showcase your innovations or a VC seeking the next big thing in AI, Imagine AI Live is an unmissable event.

→ Secure your spot today and be part of the conversation shaping the future of Enterprise AI.

Top picks

A detailed highlight

Recraft

Amount: $12M 🎉

Round: Series A

Lead Investor: Khosla Ventures, Nat Friedman

Recraft offers an AI-powered graphic design tool to redefine visual content creation and editing.

It boasts a proprietary deep-learning model for generating and customizing consistent design elements like icons and images within specific brand styles. With over 300,000 users in just eight months, the tool excels in vector art, icons, 3D images, and illustrations, ensuring brand consistency across designs. It's designed for professionals, streamlining the process while guaranteeing high-quality, style-consistent results.

Briq

Amount: $8M 🎉

Valuation: $150M

Round: Series B extension

Lead Investor: Blackhorn Ventures, Eniac Ventures, MetaProp

Briq offers a platform for the construction industry to automate financial workflows.

They have two main products - Briq AutoPilot and Briq CoPilot.

Briq AutoPilot: Automates up to 80% of business processes like accounts payable and payroll processing.

Briq CoPilot: Focuses on automating financial forecasting processes and introduces end-user coaching and risk detection to mitigate financial risks in construction projects.

The bots in their products are designed to read documents, apply logic, and take actions based on set rules, akin to an autopilot system in accounting.

PredictAP

Amount: $8M 🎉

Round: Series A

Lead Investor: RET Ventures

PredictAP's software uses ML to automate invoice ingestion and coding for real estate accounts payable.

It can process thousands of invoices monthly, each of which would typically require manual data entry and coding. The software significantly reduces the time required for invoice processing by 80-90%, and it also improves the accuracy and consistency of invoice coding.

Heex Technologies

Amount: $6.5M 🎉

Round: Seed

Lead Investor: Karista, SHIFT Invest

Heex Technologies provides a Smart Data platform that automates and optimizes the processing of relevant data for AI and automation systems while reducing the carbon footprint.

The platform allows for real-time data filtering at the edge, which reduces the amount of data sent to the cloud, lowering connectivity and storage costs and improving application speed. The technology is hardware and software agnostic, facilitating easy deployment across various systems like vehicles, drones, and trains.

Alphathena

Amount: $4M 🎉

Round: Seed

Lead Investor: ETFS Capital

Alphathena leverages AI in its direct indexing platform primarily to offer more personalized and efficient investment strategies.

Their platform enables sophisticated analysis of large datasets to identify investment opportunities, optimize portfolio allocations, and implement tax-loss harvesting strategies. This capability allows for greater customization to individual investor profiles, aligning investment strategies more closely with specific client needs and preferences.

Other Rounds 🤏

QuantHUB raises a $3.6M Series A - AI to build hyper-tailored training sessions

Remuner raises a $2.2M Seed - AI-powered sales commission system

Quino raises a $0.84M Pre-Seed - AI for students & researchers to chat with their files

Optimizer AI raises a $0.75M Pre-Seed - Sound production with AI

Bonus 🔥

For the most curious minds!