AI startup roundup: A different kind of fintech gets $110M, plus ML chips

Also, startups in chips, health care, insurance, VR and hospitality

Ben Wodecki, Jr. Editor

October 31, 2022

5 Min Read

Also, startups in chips, health care, insurance, VR and hospitality

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Funding Blitz

Startup: ConnexPay - Atlanta, Georgia-based fintech offering payments technology among intermediaries. It lets businesses access customer payments in real time to pay suppliers and other partners.

Latest funding: $110 million, private equity funding round

Lead investor: FTV Capital - Based in San Francisco, California, the private equity firm invests in enterprise solutions, financial services and payments and transaction processing.

Other investors: BIP Capital, F-Prime Capital, Marqeta

Funding plans: The funding will enable ConnexPay to expand in Europe and beyond, as well as enhance its payments platform.


Startup: - San Jose, California-based startup developing ML chips for applications including drones, industrial robots, satellite imaging and security cameras.

Latest funding: $31 million, series B extension (total series B: $61 million)

Investors: Dell Technologies Capital, MSD Partners, Amplify Partners, +ND Capital and Lip-Bu Tan, the executive chair of Cadence Design System

Funding plans: The series extension round will be used to make additional hires and "scale critical functions worldwide," the company said.


Startup: Axelera AI - Dutch AI semiconductor startup. The company started as a cryptocurrency mining infrastructure provider, but later diversified into data center design and immersion cooling – and now, AI.

Latest funding: $27 million, series A

Lead investor: Innovation Industries - Amsterdam-based VC fund investing in deep tech, focusing on sustainability and scalability.

Other investors: imec.xpand, the Federal Holding and Investment Company of Belgium (SFPIM)

Funding plans: The Dutch startup will now look to launch and mass produce its first-generation AI acceleration platform. Axelera also wants to make more hires, with plans to expand to both the U.S. and Taiwan later this year.


Startup: Navina - Israeli AI startup developing a platform that restructures patient data into intuitive patient portraits for better diagnoses and care.

Latest funding: $22 million, series B

Lead investor: ALIVE Israel HealthTech Fund - venture capital firm based in Tel Aviv that invests in health tech companies.

Other investors: Grove Ventures, Vertex Ventures Israel, Schusterman Family Investments.

Funding plans: The series B cash will be used to accelerate the growth and adoption of Navina’s platform among U.S. physician groups and the enterprise health care market, the company said.


Startup: - a startup from London that is developing enterprise authorization software.

Latest funding: $12 million, seed funding

Lead investor: Costanoa Ventures - Palo Alto-based VC that invests in enterprise software companies

Other investors: Fika Ventures, Moonshots Capital, Resolute Ventures

Funding plans: SGNL will use the cash to develop its products and hire additional team members, CEO Scott Kriz told TechCrunch.


Startup: LatticeFlow - A Swiss startup developing computer vision tools to detect data and model issues.

Latest funding: $12 million, series A

Lead investors: Atlantic Bridge, OpenOcean

Other investors:  FPV Ventures, btov Partners, Global Founders Capital.

Funding plans: LatticeFlow said it plans to use the funds to expand the capabilities of its platform and respond to growing customer demand.


Startup: Qantev - Paris-based startup developing an AI-powered platform for processing insurance claims.

Latest funding: $10 million, series A

Lead investors: Omnes Capital, Raise Ventures

Other investors: Elaia

Funding plans: Qantev will use the funds to expand globally and hire more AI engineers.


Startup: TSOLife - Tampa, Florida-based company developing AI-based platforms for senior living communities. The Minerva platform uses AI-powered dashboards to provide care givers with insights into residents for care decision-making.

Latest funding:  $9 million, series A

Lead investor: Arnie Whitman - executive chair at Formation Capital and founding partner at Generator Ventures

Other investors: Omega Healthcare Investors, Ziegler Link-age Fund III

Funding plans: TSOLife said the investment will “help accelerate the development of its next-generation Minerva platform.”


Startup: Kubiya – A self-proclaimed ‘Siri for DevOps,’ Kubiya offers conversational AI tools for cloud and data workflow platforms. The company is based in both Palo Alto and Tel Aviv.

Latest funding: $6 million, seed funding

Lead investor: Hyperwise Ventures - Based in Tzofit, Israel, the VC invests in cybersecurity and enterprise software brands.

Other investors: Pierre Lamond, the former of Advent Corp, and Giora Yaron, a founding investor in Hyperwise.

Funding plans: The company wants to expand its go-to-market strategy and will look to further extend its offering.


Startup: Vara - Berlin-based startup developing AI-powered tools for breast cancer detection.

Latest funding: $4.5 million, series A

Lead investor: VI Partners - Swiss-based firm that invests in university spin-offs.

Other investors: EQT Foundation, Med360

Funding plans: The latest funding will be put towards improving breast cancer screening.


Startup: Oxford Medical Simulation (OMS) - U.K.-based startup designing and building immersive medical and nursing scenarios in virtual reality.

Latest funding: $2.4 million, seed funding

Lead investors: Nicolaus Henke - a senior partner at McKinsey, and ACF Investors, a U.K.-based venture capital fund that co-invests alongside syndicates of angel investors.

Funding plans: OMS will put the funds towards a potential U.S. expansion as well as adding to its product offering.


Startup: Aiello – Taiwanese developer of voice assistant solutions designed for the hospitality industry.

Latest funding: $5.8 million, series Pre-A+

Lead investor: JAFCO Asia, Wistron Corporation

Other investors: Cornerstone Ventures

Funding plans: The company plans to expand its voice assistant products into the Japanese market.

About the Author(s)

Ben Wodecki

Jr. Editor

Ben Wodecki is the Jr. Editor of AI Business, covering a wide range of AI content. Ben joined the team in March 2021 as assistant editor and was promoted to Jr. Editor. He has written for The New Statesman, Intellectual Property Magazine, and The Telegraph India, among others. He holds an MSc in Digital Journalism from Middlesex University.

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