US-Based AI Startups Secure Over $100 Million in Funding in 2024

US-based AI startups that raised over $100 million in funding in 2024 - ET Telecom

Internet 2 min read US-based AI startups that raised over $100 million in funding in 2024 In the US, for instance, AI startups received $27 billion in funding in April-June, accounting for nearly half of all startup funding in the country during that period, the New York Times reported, citing Pitchbook data. Venture capital investors cannot get enough of the growing artificial intelligence (AI) wave, with startups in the US roping in big funding in the first half of 2024. Even as Indian AI startups saw a dip in funding, those in the US defied funding winter. In the US, for instance, AI startups received $27 billion in funding in April-June, accounting for nearly half of all startup funding in the country during that period, the New York Times reported, citing Pitchbook data. Here's a look at some of the top AI startups that raised over $100 million in the first half of 2024: Skild AI: Headquartered in Pittsburg, US, Skild AI announced a $300 million funding round in June, led by Lightspeed Venture Partners, Coatue, SoftBank Group, and Jeff Bezos (through Bezos Expeditions). Bright Machines: Software and robotics startup Bright Machines raised $106 million in a funding round that included Nvidia and Microsoft as investors. The San Francisco-based company makes equipment and software that helps automate a range of manufacturing tasks through the use of AI and machine learning. Etched AI: AI startup Etched in June has raised $120 million in a Series A funding round. The company will use this capital to develop its specialised chip. Based in San Francisco, Etched aims to make a specialised processor tuned to run a specific kind of AI model that is widely used by OpenAI's ChatGPT and Google Gemini. EvolutionaryScale: EvolutionaryScale, an artificial intelligence startup focused on biology raised $142 million in seed funding, led by Nat Friedman, Daniel Gross and Lux Capital. Amazon Web Services (AWS) and the venture capital arm of NVIDIA also participated in the fund raising. xAI: Elon Musk's AI startup xAI has raised $6 billion in a Series B funding round backed by investors including Andreessen Horowitz and Sequoia Capital among others on May 27. Scale AI: AI startup Scale raised $1 billion in a late-stage funding round led by venture capital firm Accel with participation from tech giants Nvidia, Amazon, and Meta, valuing the AI data startup at nearly $14 billion in May. Blaize: California-based AI computing platform Blaize announced that it raised $106 million from existing investors including Bess Ventures, Franklin Templeton, DENSO, Mercedes-Benz AG, and Temasek and new investors Rizvi Traverse, Ava Investors and BurTech. Celestial AI: Celestial AI, founded in 2020, which is building an optical interconnect technology platform for data centers and AI solutions, announced in March it raised $175 million in its Series C funding round led by Thomas Tull's U.S. Innovative Technology Fund (USIT). Together AI: AI startup Together announced a fundraise of $106M led by Salesforce Ventures with participation from Coatue, and existing investors, Lux Capital and Kleiner Perkins, among others.

US-based AI startups that raised over $100 million in funding in 2024

Globally, however, AI startups have been defying the 'funding winter' plaguing startups post pandemic. In the US, for instance, AI startups received $27 billion in funding in April-June, accounting for nearly half of all startup funding in the country during that period, data showed. AI startups for the first time became the largest segment during that quarter, as per Crunchbase.Venture capital investors cannot get enough of the growing artificial intelligence (AI) wave, with startups in the US roping in big funding in the first half of 2024. Even as Indian AI startups saw a dip in funding, those in the US defied funding winter. In the US, for instance, AI startups received $27 billion in funding in April-June, accounting for nearly half of all startup funding in the country during that period, the New York Times reported, citing Pitchbook data. Here's a look at some of the top AI startups that raised over $100 million in the first half of 2024: Skild AI: Headquartered in Pittsburg, US, Skild AI announced a $300 million funding round in June, led by Lightspeed Venture Partners, Coatue, SoftBank Group, and Jeff Bezos (through Bezos Expeditions). Bright Machines: Software and robotics startup Bright Machines raised $106 million in a funding round that included Nvidia and Microsoft as investors. The San Francisco-based company makes equipment and software that helps automate a range of manufacturing tasks through the use of AI and machine learning. Etched AI: AI startup Etched in June has raised $120 million in a Series A funding round. The company will use this capital to develop its specialised chip. Based in San Francisco, Etched aims to make a specialised processor tuned to run a specific kind of AI model that is widely used by OpenAI's ChatGPT and Google Gemini. EvolutionaryScale: EvolutionaryScale, an artificial intelligence startup focused on biology raised $142 million in seed funding, led by Nat Friedman, Daniel Gross and Lux Capital. Amazon Web Services (AWS) and the venture capital arm of NVIDIA also participated in the fund raising. xAI: Elon Musk's AI startup xAI has raised $6 billion in a Series B funding round backed by investors including Andreessen Horowitz and Sequoia Capital among others on May 27. Scale AI: AI startup Scale raised $1 billion in a late-stage funding round led by venture capital firm Accel with participation from tech giants Nvidia, Amazon, and Meta, valuing the AI data startup at nearly $14 billion in May. Blaize: California-based AI computing platform Blaize announced that it raised $106 million from existing investors including Bess Ventures, Franklin Templeton, DENSO, Mercedes-Benz AG, and Temasek and new investors Rizvi Traverse, Ava Investors and BurTech. Celestial AI: Celestial AI, founded in 2020, which is building an optical interconnect technology platform for data centers and AI solutions, announced in March it raised $175 million in its Series C funding round led by Thomas Tull's U.S. Innovative Technology Fund (USIT). Together AI: AI startup Together announced a fundraise of $106M led by Salesforce Ventures with participation from Coatue, and existing investors, Lux Capital and Kleiner Perkins, among others.