AI Startup Roundup: Philips Buys AI Ultrasound StartupAI Startup Roundup: Philips Buys AI Ultrasound Startup
Also, funding raises for Instawork, Union.ai, Swapp
May 22, 2023
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Philips has acquired DiA Imaging Analysis, an Israeli startup that develops AI-based ultrasound analysis tools. Terms of the deal were not disclosed.
DiA said the deal will accelerate the distribution of its tech thanks to Philips’ “global footprint.”
DiA develops AI-powered software designed to assist with ultrasounds. Its tools help users place the ultrasound transducer - which produces sound waves that bounce off body tissues and make echoes - to perform the best test. The startup has received nine approvals for its tech from the U.S. Food and Drug Administration.
Philips previously backed DiA in a funding round, joining other investors including XTX Ventures, DEFTA Partners and the Israel Innovation Authority.
Based in San Francisco, Instawork offers a digital marketplace app to connect businesses with hourly workers near them, such as warehouse employees, dishwashers and the like. Companies in the food and beverage, hospitality, warehouse and logistics industries use Instawork to fill jobs in the U.S. and Canada.
Latest funding: $60 million, series D
Lead investor: TCV - Menlo Park, Ca.-based tech venture capital firm
Notable investors: Larry Fitzgerald Jr. - former Arizona Cardinals wide receiver
Other investors: 9Yards Capital, Benchmark, Spark Capital, Craft Ventures, Greylock, Four Rivers Group, GV
Funding plans: The funding will be put towards investing in AI for its app.
Based in Bellevue, Wa., Union.ai offers a Kubernetes-native workflow orchestration platform for data and machine learning. Developers can use the platform to create AI and data products. North American and European customers of AWS and GCP also can access its Union Cloud product.
Latest funding: $19.1 million, series A
Lead investors: NEA and Nava Ventures
Funding plans: Union said the funds will be put towards expanding its offerings and fueling the company’s growth.
Swapp offers automation software for architectural construction documents. The company is based in Tel Aviv, Israel but has an office in Houston, Texas.
Latest funding: $11.5 million, series A
Lead investor: Eurazeo - A Paris-based private equity company.
Other investors: Entrée Capital, Activum SG Ventures, XTX Ventures
Funding plans: The newly raised funds will go towards the development of its platform and expanding its global presence.
London-based Tenzo offers an AI-powered restaurant PerformanceOps platform. The platform is used by restaurants including Nando’s and TGI Fridays. It ingests data and, using deep learning and a proprietary engine, provides restaurant staff with operational recommendations.
Latest funding: $5 million, series A
Lead investors: Amadeus Capital Partners and S28 Capital
Funding plans: The funding will go towards delivering the company’s growth roadmap.
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