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


This week we continue our series on the top 5 VC-funded deals in AI.

This week the funding amounts continued to come in under the magical $100M point, as was the case last week.  Also, four of the five top deals were US-based, which is encouraging for continued innovation in America, despite the rather chaotic financial environment we are all living in these days.

This week’s funding winners were within the following sectors: conversastional AI, image analysis, ethical deployment of AI, IP rights, and security – so once again, a rather diverse group, and we suspect this will continue to be the case as we move forward with this series.

Below are the top 5 venture-funded AI deals for the past week…

As the AI industry continues to evolve, startups are securing substantial funding to drive innovation and growth. Here are the top 5 VC-backed deals in AI, from highest to lowest funding amount:

  1. PolyAI
    • Location: London, UK
    • Description: PolyAI specializes in enterprise voice assistants, providing advanced conversational AI solutions.
    • Funding Amount: $50 million (Series C funding)
  2. Voxel51
    • Location: Ann Arbor, MI
    • Description: Voxel51 focuses on visual AI, developing cutting-edge technologies for image and video analysis.
    • Funding Amount: $30 million (Series B funding)
  3. WitnessAI
    • Location: San Mateo, CA
    • Description: WitnessAI creates an enablement platform for safe AI use, ensuring ethical and secure deployment.
    • Funding Amount: $27.5 million (Series A funding)
  4. Expedera
    • Location: Santa Clara, CA
    • Description: Expedera licenses edge inference AI semiconductor intellectual property (IP), advancing edge computing capabilities.
    • Funding Amount: $20 million (Series B funding)
  5. Patronus AI
    • Location: San Francisco, CA
    • Description: Patronus AI offers an automated evaluation and security platform, safeguarding organizations against threats.
    • Funding Amount: $17 million (Series A funding)

These companies are at the forefront of AI innovation, and their funding rounds clearly demonstrate the continued interest in AI technologies in ALL sectors.

Make sure to check back weekly here for our “Top 5 VC AI Deals of the Week in AI”!

Written Researched by DWN Staff/ VC Deals Synopsized by CoPilot
Research Source: FinSMEs