Funding highlight reel
a Spanish company which offers machine learning-based contextual advertising, raised over $250M
from Advent International.
raised a $223M Series C
led by T. Rowe Price and Fidelity. The company aims to reduce future heart attack risk by quantifying atherosclerotic plaque in the arteries, the primary factor causing heart attaques.
The US-based autonomous flying company Merlin Labs
raised a $105M Series B
led by Snowpoint and Baille Gifford. The company currently offers AI software to help with human-piloted civilian planes, and has announced “an eight-figure contract with the United States Air Force to bring autonomy to the service’s C-130J Super Hercules transport aircraft, the most-used cargo platform in the fleet.”
raised a $90M Series D
led by Goldman Sachs and Thoma Bravo. The company offers software based on natural language processing and robotic process automation to analyze and answer customer requests.
raised a $75M Series B
led by Section 32. The company is building a platform which uses AI for antibody design.
which builds large language models and aims to compete with the likes of OpenAI, raised a $64M Series B
led by Ahren Innovation Capital Fund. The deal values the company at $664M.
raised an additional $24M
to its initial $15.5M Series A from Insight Partners and other investors. The company uses computer vision to automatically analyze surgical video recordings and provide insights to surgeons.
, which provides property insurers with models that evaluate wildfire and other climate risks, raised a $33M Series B
round led by Centana Growth Partners.
raised a $32M Series A
led by Initialized Capital and Goldcrest Capital. The company uses AI to help companies with pricing, inventory management and quality assurance.
Related to what we wrote earlier in the hardware section, Celus
, a German company that uses AI to automate circuit board design, raised a €25M Series A
led by Earlybird Venture Capital.
, an AI-powered search engine founded by Salesforce’s ex-chief scientist and MetaMind founder (acquired by Salesforce) Richard Socher, raised a $25M Series A
led by Radical Ventures.
raised a $25M Series B
led by Insight Partners. The company uses Neural Architecture Search to provide companies with neural networks architectures that are faster to train and deploy.
, a Korean AI chipmaker, raised a $23M Series A
extension from KT, a Korean telecom company, following a $50M round last month led by Pavilion Capital.
, which offers an AI-powered platform to detect counterfeits and protect IP, raised a $20M Series A
led by DST Global Partners and Atinum Investment.
a company building an AI-voice assistant to help factory workers with their reporting, raised a $10M Series A
led by Blackhorn Ventures.
, which aims to protect deployed AI models from adversarial attacks, raised a $6M seed round
led by Ten Eleven Ventures and Secure Octane.
, which is creating a product to reward developers for testing AI models – the equivalent of bug bounties in traditional software, raised a $5.8M seed round
from multiple investors, including Y Combinator and We Ventures.
raised a $5.4M Series A
led by Vektor Partners. The company uses computer vision to detect scooters’ sidewalking. The company sells their solution to scooter and bike operators helping them improve safety and win city permits.
, an AI-first industrial process optimization startup founded by DeepMind alums, raised $25M
, an early stage data observability and quality monitoring company, was acquired
for an undisclosed amount. This category has seen many entrants in the last 18 months with venture funding quite possibly outstripping customer demand. We’d expect to see more consolidation into platforms with a broader scope as a result.
, a London-based NLP company focused on understanding customer conversations and feedback, was acquired
for an undisclosed amount. Reinfer was an early mover in enterprise NLP having started in 2015 by graduate students at UCL, well before the Cambrian explosion of large language models. Within UiPath, Reinfer is a great on-ramp into RPA and an effective streamliner of complex processes that involve parsing meaning and priorities from text.
, a London-based voice synthesis company, was acquired
for €91M led by the company’s VP of Personalisation. This is another example of a voice synthesis/cloning company finding a scalable use case by joining a much larger product-led company: recall that Lyrebird joined Descript, Voysis joined Apple, amongst others.
, makers of an autonomous drone platform, was acquired
by rival American Robotics
for an undisclosed sum. The former is mainly used for security and surveillance use cases, while the latter is used in the industrial sector (e.g. mining, oil and gas).
a UK-based company running industrial inspections using computer vision, was acquired
, which itself helps customers capture, process and collaborate on visual data procured from drones.
, a UK-based geospatial data analytics company focused on regenerative farming, was acquired
, which helps farmers track their emissions and transition to regenerative farming.
, a CMU spinout offering a computer vision solution for road quality monitoring, was acquired
by tire maker Michelin
Nathan Benaich, Othmane Sebbouh and Nitarshan Rajkumar
14 August 2022
Air Street Capital is a venture capital firm investing in AI-first technology and life science companies. We invest as early as possible and enjoy iterating through product, market and technology strategy from day 1. Our common goal is to create enduring companies that make a lasting impact on their markets.