📌 AI Startups raise $575M+

Today’s 1 min recap:

• Lambda raises a $320M Series C for its compute platform

• Magic raises $117M to build an AI software engineer

• LangChain raises a $25M Series A for its LLM-powered app development framework

• Scribe raises a $25M Series B for its documentation platform

• Monumental raises $25M Seed for its autonomous construction robots

• Flower Labs raises a $20M Series A for open-source decentralized AI

• 5 more rounds caught by my funding tracker

Together with IMAGINE AI LIVE 24

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

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

The 2-day conference will feature:

• Live demonstrations.

• Immersive sessions on how AI can speed up your enterprise, expand your business model, and improve your value proposition.

• Speakers from the generative AI scene like Bindu Reddy.

Spots are filling up fast.

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Top picks

A detailed highlight

→ Lambda

Amount: $320M 🎉

Valuation: $1.5B

Round: Series C

Lead Investor: US Innovative Technology Fund

Lambda's mission is to be the #1 AI compute platform in the world.

They offer a GPU cloud that is specifically designed for AI workloads. Their product allows users to rent access to thousands of GPUs, which can be used to train and run AI models. This is useful for companies that want to develop AI applications but don't want to invest in their own hardware.

→ Magic

Amount: $117M 🎉

Round: Venture Round

Lead Investor: Nat Friedman, Daniel Gross

Magic is working on frontier-scale code models to build an AI software engineer.

Their AI pair programmer feels like a full colleague inside your computer - capable, conversational, and reliable across domains.

→ LangChain

Amount: $25M 🎉

Round: Series A

Lead Investor: Sequoia Capital

LangChain gives developers a framework to construct LLM‑powered apps easily. They have 2 other products:

• LangSmith: Gives visibility into what’s happening with your LLM-powered app, whether it's built with LangChain or not, so you know how to take action and improve quality.

• LangServe: makes serving an API for your LangChain application turnkey.

Today, LangChain has more than 5M downloads & powers more than 50K apps.

→ Scribe

Amount: $25M 🎉

Round: Series B

Lead Investor: Redpoint

Scribe offers a platform for documenting and sharing business processes powered by AI.

Scribe uses AI to convert processes into visual step-by-step guides with instructions, screenshots, and videos. These guides can be shared with colleagues, clients, or customers, making it easier to onboard new employees, train teams, and standardize procedures.

→ Monumental

Amount: $25M 🎉

Round: Venture Round

Lead Investor: Plural, Hummingbird

Monumental develops small, electric, agile, autonomous ground vehicles (AGVs) designed to navigate the rough terrain of construction sites.

These robots are equipped with sensors, computer vision, and small cranes to place bricks and mortar with precision. The AI-powered software, Atrium, operates these robots. Monumental's service model involves hiring out these robots to construction sites, where they work autonomously or alongside human workers, focusing initially on bricklaying tasks.

→ Flower Labs

Amount: $20M 🎉

Round: Series A

Lead Investor: Felicis

Flower Labs offers an open-source framework for federated learning and decentralized AI, enabling the training of AI models on distributed data sources.

This approach allows for larger training data sets, reduced GPU dependency, and compliance with forthcoming AI regulations.

Other Rounds 🤏

Clarity raises a $16M Seed - Scalable, real-time detection of deepfakes

Alembic raises a $14M Series A - Predicts revenue and ROI from marketing and sales cycles

Arch raises a $6.2M Seed - Enabling HVAC pros to reach to drive climate tech adoption using AI

Armilla AI raises a $4.5M Seed - An assurance platform that safeguards against the risks of AI models

Evergrowth raises a $2.2M Pre-Seed - AI-Powered B2B Sales Platform

Bonus 🔥

For the most curious minds!