This week we continue our series on the top 5 VC-funded deals in AI.
This past week for the first time in a while we saw a deal pass the $100M mark for the second consecutive week, which was slower than normal due to the U.S. holiday. Nevertheless, venture capital dollars continued to pour into the AI sector.
This week’s top deal came in at $150 million from the coding sector, where Codeium’s series C round will support its AI code completion platform. The second biggest announcement was in biotech, where artificial intelligence is being brought to bear in the battle against cancer. The top five also included video, neurtechnology and social media, again showing the breadth and reach of artificial intelligence.
Smaller funding raises that did not make our top 5 this week included announcements in the conversational AI, biotech, and business operations sectors.
Below, we highlight the top five venture capital deals, ranked from the highest to the lowest funding amounts, showcasing the companies at the forefront of the AI revolution….
Top 5 Venture Capital Deals in August 2024
- Codeium
- Location: Mountain View, CA
- Description: Codeium offers an AI-powered code acceleration platform designed to enhance software development efficiency through advanced automation.
- Funding Amount: $150M
- Funding Round: Series C
- Noetik
- Location: San Francisco, CA
- Description: Noetik is an AI-native biotech company focused on developing next-generation cancer therapeutics using self-supervised machine learning and high-throughput spatial data.
- Funding Amount: $40M
- Funding Round: Series A
- OpusClip
- Location: Redwood City, CA
- Description: OpusClip specializes in AI-powered video repurposing, enabling users to transform video content into different formats efficiently.
- Funding Amount: $30M
- Funding Round: Series A
- Piramidal
- Location: San Francisco, CA
- Description: Piramidal is a neurotech startup leveraging AI to develop innovative solutions for neurological conditions.
- Funding Amount: $6M
- Funding Round: Seed
- Vybe
- Location: San Francisco, CA
- Description: Vybe is an AI-generated photos social media app that allows users to create and share highly personalized photo content.
- Funding Amount: $4.75M
- Funding Round: Seed
Make sure to check out our Top 5 VC Deals of the Week in AI right here!
Research Source: FinSMEs
