January 23, 2023
Every week, AI Business brings you the latest startup news.
From funding rounds to acquisitions, product launches to partnerships, AI Business covers everything artificial intelligence.
Startup: Impel - Based in Syracuse, New York, Impel develops digital engagement software to modernize the car-shopping experience for consumers.
Latest funding: $104 million, venture round
Lead investor: Silversmith Capital Partners
Other investors: Wavecrest Growth Partners.
Funding plans: Impel plans to use the funds to accelerate company growth through product expansion and M&A activity.
Startup: Qitan Technology - Based in Chengdu, China, Qitan is developing genome sequencing technology. Its drug discovery tech is being used across biopharma, pathology and oncology diagnosis.
Latest funding: $103.7 million, series C
Lead investor: Meituan
Other investors: Huagai Capital, BioTrack Capital
Funding plans: The capital will go towards building out its product portfolio and expanding commercialization efforts.
Startup: DeepL - German AI company creating AI-powered translation tools.
Latest funding: $100 million, venture round
Lead investors: IVP
Other investors: World Innovation Lab, btov Partners, Bessemer Venture Partners, Benchmark, Atomico
Funding plans: The newly secured cash will accelerate research and development, expand its product offering and enable ongoing team growth, DeepL said.
Startup: Exodigo- Split across Palo Alto and Tel Aviv, Exodigo creates AI-powered subsurface imaging platforms.
Latest funding: $41 million, seed round (extension)
Latest investor: National Grid Partners
Initial lead investors: Zeev Ventures and 10D Ventures
Other investors: SquarePeg Capital, JIBE Ventures, Tidhar Construction, Israel Canada, WXG
Funding plans: Exodigo plans to deepen its work in the transportation and energy sectors, as well as expand across the construction and infrastructure markets.
Startup: Mad Street Den - Chennai, India-based computer vision tech developers. Mad Street Den focuses its work on retail, creating image and video recognition platforms for retail automation.
Latest funding: $30 million, series C
Lead investor: Avatar Growth Capital
Other investors: Sequoia Capital, Alpha Wave Global (formerly Falcon Edge Capital)
Funding plans: The investment will be put towards Mad Street Den expanding its artificial intelligence offerings across industries.
Startup: BIOHM - Cleveland, Ohio-based company developing AI tech that analyzes gut's total microbiome.
Latest funding:$7.5 million, seed round
Lead investor: VTC Ventures
Other investors: Felton Group, Jobs Ohio Growth Capital Fund, Aztec Capital Management, Cleveland Life Science Advisors
Funding plans: The raise will fund BIOHM’s AI tech for consumers, medical practitioners, and companies across the food, beverage and dietary supplement industries.
Startup: Infinity AI - Based in California, Infinity’s tools generate synthetic machine learning training data in a bid to build quality ML models faster.
Latest funding: $5 million, seed round
Lead investors: Matrix Partners
Other investors: Snorkel AI CEO Alexander Ratner, Andrea Coravos, CEO at HumanFirst
Funding plans: Infinity co-founder Lina Colucci said that the company plans to commercialize two generative AI tools it currently has in development: a Stable Diffusion-based inpainting tool that augments scenes and another that adds clothing textures to avatars.
Startup: ElevenLabs - London-based startup developing AI-powered translation tools.
Latest funding: $2 million, pre-seed round
Lead investor: Credo
Other investors: Concept Ventures and individual investors including its own venture partner, Carles Reina, as well as former Polkadot founder Peter Czaban, among others.
Funding plans: ElevenLabs will now look to increase its team size and scale its solution to include more languages.
Startup: Komunal- Indonesian fintech Komunal is working to digitize rural banks, helping create digital services so users do not have to rely on physical locations.
Latest funding: $8.5 million, series B
Lead investors: East Ventures
Other investors: Sovereign’s Capital, Skystar Capital, Ozora, Gobi Partners, AlphaTrio Capital
Funding plans: The newly raised funds will be used to market its DepositoBPR product line.
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