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

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.

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Startup: SiMa.ai - 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.

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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.

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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.

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Startup: SGNL.ai - 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.

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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.

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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.

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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.”

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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.

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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.

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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.

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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 Authors

Ben Wodecki

Assistant Editor

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