AI Startup Roundup: Defense Tech Startup Raises $1.5 Billion

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

Ben Wodecki, Jr. Editor

December 6, 2022

3 Min Read
Anduril long-range sentry

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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.


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,, 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: - 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., 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.

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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