AI Startup Roundup: Defense Tech Startup Raises $1.5B

Also, funding raises for Runway, Deepgram and Twelve Labs.

Ben Wodecki

December 6, 2022

3 Min Read
Anduril long-range sentry
Anduril

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Startup: Anduril - California-based defense tech startup. Anduril builds technology for military agencies and border surveillance.

Latest funding: $1.5 billion, series E

Lead investors: Valor Equity Partners

Other investors: Lux Capital, Modern Venture Partners, Thrive Capital, WCM Investment Management

Funding plans: Anduril will use the funds to accelerate the R&D of autonomous defense capabilities and scale its current business lines with the U.S. Department of Defense and U.S. allies, a company blog post said.

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Startup: Runway ML - New York-based applied AI research company building next-gen creativity tools using generative AI. Runway is responsible for the underlying algorithm that powers Stable Diffusion, the popular text-to-image AI engine.

Latest funding: $50 million, series C

Lead investors: Felicis

Other investors: Amplify Partners, Coatue, Compound, and Lux Capital

Funding plans: With these new funds, Runway will accelerate its strategic business initiatives including broadening the development of its suite of tools, particularly around audiovisual applications, and hiring engineering and research talent, a company announcement reads.

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Startup: Deepgram- Based in San Francisco, Deepgram is building AI transcription and voice recognition technologies for uses including summarization, sentiment analysis, language detection and more.

Latest funding: $47 million, series B (series B total now $72 million)

Lead investors: Madrona

Other investors: Alkeon Capital Management, Nvidia, Y Combinator, Blackrock, Tiger Global, Citi Ventures, SAP.io, In-Q-Tel

Funding plans: Deepgram will use this funding to expand its research and engineering teams to “define the future of AI speech understanding,” said CEO Scott Stephenson.

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Startup: Twelve Labs- Startup behind a cloud-based video search platform. Twelve Labs is based in Seattle.

Latest funding: $12 million, seed round (extension)

Lead investors: Radical Ventures

Other investors: Index Ventures, WndrCo, Spring Ventures

Funding plans: Twelve Labs plans to invest in its platform and expand its team, CEO To Jae Lee told TechCrunch.

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Startup: Care.ai - Orlando, FL-based company behind the Smart Care Facility Platform. Powered by AI-enabled edge sensors, the platform surfaces real-time inferences and insights to alert and report on activities that help health care organizations improve patient care.

Latest funding: $27 million, venture funding

Investors: Crescent Cove Advisors

Funding plans: Currently deployed in over 1,500 facilities across the U.S., Care.ai is eyeing further expansion across hospitals, skilled nursing facilities and assisted living facilities

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Startup: Frame AI - New York-based startup developing an AI-driven platform for customer intelligence.

Latest funding: $7.6 million, series B

Lead investors: G20 Ventures

Other investors: FirstMark, Greycroft, Velvet Sea Ventures, ValueStream Ventures,

Funding plans: The new funding will be used to expand sales and “deepen Frame’s differentiated capabilities in combining natural language and event data to better understand customer journeys,” a press release reads.

About the Author(s)

Ben Wodecki

Assistant Editor

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