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Choosing Your First Generative AI Use Cases
To get started with generative AI, first focus on areas that can improve human experiences with information.
Also, funding raises for Runway, Deepgram and Twelve Labs.
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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.
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