Top 5 VC AI Deals of the Week in AI (3/8/24)


Our new column “Top 5 VC Deals of the Week in AI” will outline the largest VC-funded deals in the artificial intelligence sector for our readers.  While our new brand AI & Finance is focused on AI/ML in the financial sector, this column will cover ALL the largest VC deals in AI, regardless of whether the funded company is in the finserv industry or elsewhere.

We will also use a slightly different format than our other weekly Top 5 VC Deals column which covers the fintech sector at large.  No doubt we will refine this over time, but this is a great start, in our opinion!

Here are the top 5 venture-funded AI deals that took place from February 26, 2024, to March 6, 2024.

  1. Epic Games
    • Funding Deal: $1.5 billion
    • Funding Firms: Disney
    • Overview: Epic Games, a gaming giant, raised $1.5 billion through a new partnership with Disney. Despite a drop in valuation, the company continues to make significant strides in the gaming industry.
  2. Radiology Partners
    • Funding Deal: $720 million
    • Funding Firms: Not named
    • Overview: Radiology Partners, which offers radiology services, closed a growth equity investment of approximately $720 million from existing and new investors.
  3. Figure
    • Funding Deal: $675 million
    • Funding Firms: Microsoft, OpenAI Startup Fund, NVIDIA, Jeff Bezos (through Bezos Expeditions), Parkway Venture Capital, Intel Capital, Align Ventures, and ARK Invest.
    • Overview: Figure, an AI robotics company, raised $675 million in Series B funding at a $2.6B valuation. The company is developing AI-enhanced robots that it hopes will be able to perform dangerous jobs and alleviate labor shortages.
  4. Lambda
    • Funding Deal: $320 million
    • Funding Firms: Thomas Tull’s US Innovative Technology Fund
    • Overview: Lambda, a provider of cloud computing services and hardware for training artificial intelligence software, hit unicorn status after a $320 million Series C at a $1.5 billion valuation.
  5. Glean
    • Funding Deal: $200 million
    • Funding Firms: Kleiner Perkins and Lightspeed Venture Partners
    • Overview: Glean, an AI-enhanced work assistant and enterprise search startup, raised more than $200 million Series D at a $2.2 billion valuation.

These deals highlight the growing interest and investment in AI technologies across various sectors. Stay tuned for more updates on venture-funded AI deals.

DWN Editorial Team & CoPilot


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