Top 5 VC Deals of the Week in AI (6/28/24)

374

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

More big bucks rolling in for AI and this week four of the top five venture deals in artificial intelligence came out of the US, with the fifth coming from Austria.

The week’s funding round winners were companies offering the following:

  • A tech-driven and AI-native pharma company
  • A transformer-specialized AI chip
  • An AI-enabled sustainability, risk, and compliance platform
  • An AI video generation platform for businesses
  • An AI-powered search and discovery shopping platform

In past weeks, we noted that healthcare was getting a lot of funding, and this week we only see one deal in that sector BUT it was a whopping $472M deal.  I would postulate that the most AI VC will continue to pour into healthcare and it will be the lead category for AI investing for some time, since the sector is just massive. We’ll see, right?

Anyhoo, below are the top 5 venture-funded AI deals for the past week…


The companies below exemplify the transformative power of AI across various sectors, from pharmaceuticals and hardware to sustainability and e-commerce.Here are the top 5 VC-backed deals in AI, from highest to lowest funding amount for the past week:

Top 5 Funded Deals:

  1. Formation Bio
    • Location: New York City, NY
    • Description: Formation Bio is a tech-driven and AI-native pharma company.
    • Funding Amount: $372M
    • Funding Round: Series D
  2. Etched
    • Location: Cupertino, CA
    • Description: Etched is the creator of Sohu, a transformer-specialized AI chip.
    • Funding Amount: $120M
    • Funding Round: Undisclosed
  3. Prewave
    • Location: Vienna, Austria
    • Description: Prewave provides an AI-enabled sustainability, risk, and compliance platform.
    • Funding Amount: $67M
    • Funding Round: Series B
  4. HeyGen
    • Location: Los Angeles, CA
    • Description: HeyGen is an AI video generation platform for businesses.
    • Funding Amount: $60M
    • Funding Round: Series A
  5. Daydream
    • Location: USA
    • Description: Daydream is an AI-powered search and discovery shopping platform.
    • Funding Amount: $50M
    • Funding Round: Seed

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 ChatGPT
Research Source: FinSMEs