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December 11, 2023
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Mistral AI is a French rival to OpenAI that has emerged as one of Europe’s most prominent AI startups. It was founded by former scientists from DeepMind and Meta who worked on large language models.
Latest funding: Set to raise around €450 million ($485 million), according to Bloomberg
Lead investor: Andreesen Horowitz
Other investors: General Catalyst, Lightspeed Venture Partners, Bpifrance and others participated in the round. Nvidia and Salesforce contributed €120 million ($129 million) in convertible debt.
SumUp is a London-based card payments startup that competes with Block, the startup co-founded by Twitter founder Jack Dorsey that was originally known as square. SumUp’s devices let businesses accept and process card payments.
Latest funding: €285 million ($307 million) as reported by CNBC. It is mostly equity although there is a small amount of debt.
Lead investor: Sixth Street Growth
Other investors: Bain Capital Tech Opportunities, Fin Capital, Liquidity Group
Funding plans: The latest fundraise will give the startup “more firepower to act on opportunities that we see arising over the course of the next two years,” said CFO Hermione McKee.
Formerly GameOn Technology, the startup now known as ON has built an enterprise-grade conversational AI platform.
Among the organizations using its solutions include retail clients like Valentino and Armani and a slew of sports teams including the New York Yankees, Vegas Raiders and the Houston Rockets.
Latest funding: $25 million
Lead investors: Mirae Asset Venture Investment
Investors: Equiam; B3 Capital; Commonwealth Financial Network
Funding plans: ON told AI Business that the startup plans to use the fresh funds to “expand its horizons into e-commerce, consumer banking, health care, and publishing domains.”
Boston-based DataCebo offers synthetic data products for enterprises. Its SDV Enterprise product generates high-quality synthetic data for AI developers to use when testing and building generative AI models.
Latest funding: $8.5 million, seed funding
Lead investors: Link Ventures and Zetta Venture Partners
Other investors: Uncorrelated Ventures
Funding plans: DataCebo plans to use the funds to advance its product and to build a go-to-market team.
Read more about:ChatGPT / Generative AI
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