“AI Startup” has raised more than $100💸 million in funding.

Some of the notable investments received from this top AI startups in the first Quarter of 2024:

XAI: 

This is an American startup company founded by ” Elon Musk”  in March 2023. Their goal is ambitious – to understand the fundamental nature of the universe. Their first product is a conversational AI called Grok . The company is still young, with around 100 employees as of 2024.On May 27, they raised an impressive $6 billion in a Series B funding round, with backing from top investors like Andreessen Horowitz and Sequoia Capital, among others.

Scale AI

Scale AI is a prominent artificial intelligence (AI) company specializing in providing high-quality training data for AI applications. Founded in 2016 by Alexandr Wang and Lucy Guo, the company has swiftly established itself as a crucial player in the AI industry, enabling organizations to build and deploy robust machine learning models.In May, AI startup Scale raised an impressive $1 billion in a late-stage funding round. This round was led by venture capital firm Accel, with tech giants Nvidia, Amazon, and Meta also jumping on board. This new funding brings Scale’s valuation to nearly $14 billion.

Bright Machines:

Bright Machines provides solutions that bridge the gap between traditional manufacturing and the digital future. Their flagship product, Bright Machines Microfactories, combines modular hardware with intelligent software to automate assembly and inspection tasks. This approach not only increases efficiency but also allows for greater flexibility in production lines, making it easier for manufacturers to adapt to changing demands and product variations.
Amar Hanspal is the co-founder and CEO of Bright Machines. With a rich background in technology and leadership, Hanspal has a passion for driving digital transformation in traditional industries. Before founding Bright Machines, he held several executive positions at Autodesk, a leading software company, where he played a crucial role in the company’s transition to cloud-based solutions and its expansion into new markets. Bright Machines, a cool startup combining software and robotics, just raised $106 million in a funding round with big names like Nvidia and Microsoft jumping in. 

Skild AI:

Skild AI offers a platform designed to streamline and improve the recruitment process. Their technology uses AI to analyze candidates’ skills, experiences, and potential, providing deeper insights into their suitability for specific roles. This approach helps employers make more informed decisions and reduces the risk of unconscious bias in hiring.
Skild AI, based in Pittsburgh, US, announced in June that they secured $300 million in funding. This round was led by Lightspeed Venture Partners, Coatue, SoftBank Group, and even Jeff Bezos, through his Bezos Expeditions.

Etched AI:

Etched AI is an innovative technology company focused on leveraging artificial intelligence to enhance data analysis and visualization. The company aims to help businesses unlock deeper insights from their data by providing advanced AI-driven tools and solutions. Founded by Dr. Priya Nair, a seasoned data scientist and AI expert, Etched AI combines cutting-edge technology with user-friendly interfaces to make complex data accessible and actionable. Dr. Nair’s vision for the company is to democratize data analytics, enabling organizations of all sizes to harness the power of AI for better decision-making and strategic planning. Her leadership and expertise have been instrumental in positioning Etched AI as a key player in the data analytics industry.
In June, AI startup Etched secured $120 million in a Series A funding round. This San Francisco-based company plans to use the funds to develop a specialized chip designed to run specific AI models, like those used by OpenAI’s ChatGPT and Google Gemini.

EvolutionaryScale:

EvolutionaryScale is a pioneering AI company dedicated to advancing machine learning and computational biology. Founded by Dr. Anil Mehta, a renowned expert in AI and bioinformatics, the company focuses on developing innovative algorithms and technologies to analyze and interpret complex biological data. EvolutionaryScale’s mission is to bridge the gap between AI and biology, providing tools that enhance our understanding of genetic information and accelerate breakthroughs in personalized medicine. Dr. Mehta’s leadership and vision have been crucial in establishing EvolutionaryScale as a leader in the convergence of AI and life sciences, driving the future of healthcare innovation.