December 6, 2022
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: 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.
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.
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.
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.
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
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.
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