Artificial Intelligence

Wordsmith: AI-Based Legal Assistant Platform Company Closes $5 Million In Seed Funding

By Amit Chowdhry ● Jun 25, 2024

Wordsmith, an AI-based legal assistant platform, announced it has raised $5 million to transform the legal industry and unleash a new generation of hyper-skilled legal professionals. Index Ventures led this seed funding, which was joined by General Catalyst and angel investors, including Skyscanner founder Gareth Williams.

FairNow: AI Governance Software Company Raises $3.5 Million In Seed Funding

By Amit Chowdhry ● Jun 25, 2024

FairNow, a leading McLean, Virginia-based provider of AI governance software, announced that it has secured $3.5 million in a seed funding round. The funding will help FairNow accelerate its mission of equipping enterprises with a governance platform that manages AI-related business and regulatory risks.

Vecna Robotics: Flexible Material Handling Automation Solutions Company Raises $100 Million In Series C

By Amit Chowdhry ● Jun 25, 2024

Vecna Robotics, a leader in flexible material handling automation solutions, announced its Series C round closing at $100 million, with $40 million in new funding including equity and debt, nearly doubling the company valuation from the previous round. Tiger Global Management, Proficio Capital Partners, and IMPULSE joined in the round.

OpenAI Acquires Database Analytics Company Rockset

By Amit Chowdhry ● Jun 25, 2024

OpenAI announced it has acquired search and database analytics company Rockset to enhance retrieval infrastructure for making AI more helpful. The terms of the deal were undisclosed.

QpiAI: AI/Quantum Computing Company Raises $6.5 Million In Pre-Series A Funding

By Amit Chowdhry ● Jun 25, 2024

QpiAI announced it closed its first external investment, a pre-series A funding of $6.5 million led by Yournest and SVCL. WFC, Ramesh Radhakrishnan, Ramaswamy Prabhakar, Quick Heal Security founders Kailash Katkar and Sanjay Katkar and their family office, Lakshmi Lakshmeenarayanan, Bhupinder Singh, Pratap Reddy, Sahasra Capital, and other angels also joined the round. Debraj Banerjee from SIDBI Venture Capital will be joining the board of QpiAI as a nominee.

GrayMatter: AI-Based Robotics Company Raises $45 Million In Series B Funding

By Amit Chowdhry ● Jun 24, 2024

GrayMatter Robotics, an AI-based robotics leader empowering humans with intelligent automation, announced $45 million in Series B funding. Wellington Management led the funding round, which also included NGP Capital, Euclidean Capital, Advance Venture Partners, SQN Venture Partners, and other existing investors 3M Ventures, B Capital, Bow Capital, Calibrate Ventures, OCA Ventures, and Swift Ventures.

Vehya: $2.1 Million Seed Funding Raised To Drive Innovation In The Service Industry

By Amit Chowdhry ● Jun 24, 2024

Vehya, an easy-to-use mobile app dedicated to automating the installation, repair, and routine maintenance processes for home and small business services, announced the successful completion of a $2.1 million seed funding round. And the funding will enhance the platform's AI capabilities, expand its service offerings, and accelerate growth in key markets like California, Texas, Florida, Maryland, and Michigan.

Trustwise: Gen AI Performance And Risk Management Company Raises $4 Million In Seed Funding

By Amit Chowdhry ● Jun 24, 2024

Trustwise, a generative AI (Gen AI) application performance and risk management, announced its official launch, the release of its Optimize:ai product, and $4 million in seed financing. The round was led by Hitachi Ventures with participation from Firestreak Ventures and Grit Ventures.

SewerAI: Sewer Condition Assessment Company Raises $15 Million In Series B

By Amit Chowdhry ● Jun 23, 2024

SewerAI, a leader in AI and cloud-driven sewer condition assessment, announced the completion of a $15 million Series B funding round. This funding round was led by Innovius Capital, with additional funding from Emerald VC, Epic Ventures, Suffolk Technologies, Bentley Systems, Burnt Island Ventures, and notable individual investors, including Zachary Bookman, founder and CEO of OpenGov, and the CEOs of several elite AI and computer vision companies.

Iambic Therapeutics: $50 Million Closed To Develop Novel Therapeutics With AI-Driven Discovery

By Amit Chowdhry ● Jun 23, 2024

Iambic Therapeutics, a clinical-stage biotechnology company developing novel therapeutics utilizing a unique AI-driven discovery platform, announced the closing of an oversubscribed $50 million extension to its Series B financing. The Series B extension was led by new investors Mubadala Capital and Exor Ventures, with participation from Qatar Investment Authority (QIA), and existing investors Abingworth, Illumina Ventures, Nexus Venture Partners, Coatue, and Tao Capital Partners.

SurrealDB: Multi-Model Database Company Raises $20 Million

By Amit Chowdhry ● Jun 23, 2024

Multi-model database company SurrealDB announced it raised $20 million in funding, led by FirstMark and Georgian and with participation from Crew Capital and Alumni Ventures. This round brought SurrealDB's total to $26 million.

McKinsey Expands Gen AI Platform With Iguazio

By Amit Chowdhry ● Jun 22, 2024

McKinsey has expanded its Gen AI platform (powered by Iguazio) to offer enterprises a consolidated, software-based approach to building, implementing, scaling, and governing Gen AI solutions.

Tinybird: Real-Time Data Platform Company Raises $30 Million In Series B

By Amit Chowdhry ● Jun 21, 2024

Tinybird, a real-time data platform for data and engineering teams, announced that it has raised $30 million in a Series B funding round led by Balderton Capital. Existing investors, including CRV and Singular Ventures, also participated in the round. This new funding round will accelerate Tinybird’s growth, enhance its product offerings, and expand its global footprint.

GPTZero: AI-Based Content Detection Company Raises $10 Million In Series A

By Amit Chowdhry ● Jun 21, 2024

GPTZero, a leading platform for AI-generated content detection and responsible AI adoption, announced it had raised $10 million in Series A funding led by Footwork VC with participation from Reach Capital, Uncork, Neo, Alt Capital, and the former CEOs of Reuters and The New York Times.