Once again, this week we have an incredibly diverse group of companies (and categories) comprising our top 5 venture-funded AI deals for the past week.
This week, every deal surpassed the $100M sum. This is a trend we saw much more slowly emerge in the general fintech category, but with AI, the VC dollars are being pumped fast and fruious. Categories that saw funding this week included biotech, digital marketing, SaaS and “accelerated computing optical interconnectivity”. Way past my pay grade. Anyway, check out this week’s VC winners in the AI sector below!
Here are the top 5 venture-funded AI deals that took place from March 28, 2024, to April 3, 2024. These companies have made significant strides in their respective fields, attracting substantial investments from various funding firms.
- Celestial AI – Celestial AI is the company behind the innovative Photonic Fabric optical interconnect technology platform. The firm’s groundbreaking technology is swiftly setting the benchmark for Accelerated Computing optical interconnectivity, thanks to its unmatched performance and efficiency.
- Funding Amount: $175M
- Funding Round: Series C
- Investors: U.S. Innovative Technology Fund (USIT)
2. Avenzo Therapeutics – Avenzo Therapeutics is a clinical-stage biotechnology company that was co-founded in 2022. The company is developing and advancing a pipeline of potential best-in-class oncology therapies that target cell cycle control to prevent the aberrant cell proliferation that drives many cancers.
- Funding Amount: $150M
- Funding Round: Series A-1
- Investors: U.S. Innovative Technology Fund (USIT)
3. The Brandtech Group – The Brandtech Group, an exclusively digital marketing collective and AI-driven marketing firm, aims to revolutionize the conventional advertising sector by utilizing AI to craft marketing campaigns.
- Funding Amount: $115M
- Funding Round: Series C
- Investors: Fimalac, NendoLabs, Mousse Partners, Bansk Group
4. Observe – Observe is a Software-as-a-Service (SaaS) company that provides observability software, enabling engineering and DevOps teams to troubleshoot distributed applications. The company collects and analyzes machine-generated data emitted by applications, transforming it into human-understandable insights, which aids in the performance evaluation of applications and infrastructure.
- Funding Amount: $115M
- Funding Round: Series B
- Investors: Sutter Hill Ventures, Snowflake Ventures
Funding Firms: Sutter Hill Ventures, Snowflake Ventures
5. Coro – Coro is a cybersecurity company that provides comprehensive protection across devices, users, and cloud applications. The company defends against various threats such as malware, phishing, data leakage, network attacks, and insider threats.
- Funding Amount: $100 Million
- Funding Round: Series D
- Investors: One Peak, Energy Impact Partners, Balderton Capital
These funding rounds reflect the continued interest and investment in AI technologies, driving innovation and growth in the industry. As companies develop cutting-edge solutions, investors recognize the potential impact of AI across various domains .
Written by DWN/AI&F Staff with research assistance from CoPilot
Additional Source/s: Intellizence
