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AI Startup Roundup: AI Cloud Infrastructure Startup Raises $200M

Also, funding raises for Lightmatter, Eagle Eye Networks and more

Ben Wodecki

June 5, 2023

2 Min Read
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Funding News

CoreWeave

Roseland, New Jersey-based CoreWeave is a specialized cloud provider, offering GPU compute resources for everything from AI and machine learning to VFX and rendering.

The Nvidia-backed startup claims its infrastructure is up to 35 times faster and 80% less expensive than large, generalized public clouds.

Latest funding: $200 million, series B extension

Lead investor: Magnetar Capital

Magnetar led CoreWeave’s initial $221 million series B. Other investors include Nvidia, former GitHub CEO Nat Friedman and former Y Combinator investor Daniel Gross.

Funding plans: CoreWeave’s $421 million total is being put towards expanding the company’s specialized cloud infrastructure for compute-intensive workloads, including AI and ML. The startup is also looking to support data center expansion in North America.

Lightmatter

Boston-based startup Lightmatter makes chips that use light for processing instead of electricity.

The Photonic chip developer uses beams of light to run artificial intelligence workloads, rather than electrons.

Latest funding: $154 million, Series C

Big name backers: Google Ventures, Hewlett Packard Enterprise

Other investors: SIP Global, Fidelity Management & Research Company, Viking Global Investors, Trajectory Ventures

Funding plans: Lightmatter plans to deliver its products to cloud provider customers, semiconductor companies and enterprises for AI and high-performance computing workloads.

Eagle Eye Networks

Austin, Texas-based Eagle Eye Networks offers cloud video surveillance tools.

The company provides integrated solutions for real-time AI video and access control events analysis, optimizing safety and security.

Latest funding: $100 million, venture round

Lead investor: SECOM

Funding plans: Eagle Eye Networks will use the investment for continued development of its AI-based analytics capabilities such as Eagle Eye Smart Video Search, Smart Alarms, and Vehicle Intelligence and to expand its worldwide operations.

MindsDB

Open-source machine learning startup MindsDB creates tools to speed up machine learning development processes by bringing machine learning into the database.

MindsDB’s Cloud Enterprise offering has been used by thousands of developers and the company enjoys partnerships with several major database vendors, including Snowflake, SingleStore and DataStax.

Latest funding: $25 million

Lead investor: Mayfield

Other investors: TQ Ventures, Benchmark Capital

Funding plans: MindsDB plans to use the additional capital to continue to nurture its community, expand its AI-Logic product capabilities, and support its growing base of customers.

Xonai

London-based startup Xonai is developing an automated hardware selection and data management platform for cloud computing.

Latest funding: $3.5 million, seed funding

Lead investor: Kadmos Capital

Other investors: Adara Ventures, Deep Science Ventures, Nauta Capital, Notion Capital

Notable angels: Mehdi Ghissassi, Director of Product Management for Google DeepMind and Martin Gould, CEO and Founder of This One

Funding plans: Xonai founder and CEO Leandro Vaz said the funds will be used to scale the company’s team and “ensure enduring customer growth and support.”

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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