This week we continue our series on the top 5 VC-funded deals in AI.
This week’s top-heavy venture capital funding is led by two big deals exceeding the $200 million threshold.
The top reported deal, per FinSMEs, came from Santa Clara, CA-based optical interface developer Celestial AI, which raised a $255 million Series C1 in part to “accelerate commercial deployment of its Photonic Fabric technology,” according to its announcement. Celestial’s optical interface technology hopes to underpin new generations of AI infrastructure, including data centers, networking and memory systems. Our second-place announcement came from the healthcare and housing space, where New York-based EliseAI brought in a $250 million Series E round. The top five also included companies in the AI infrastructure, crime and fraud prevention, and IT sectors.
Smaller funding raises that did not quite make our top 5 this week included announcements from the software development, fintech, manufacturing and retail spaces.
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 from Aug. 14-Aug. 20
1. Celestial AI
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Location: Santa Clara, CA
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Description: Celestial AI is an optical interconnect technology company known for its Photonic Fabric™ platform, which enhances the efficiency of data movement in AI systems.
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Funding Amount: $255 million
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Funding Round: Series C1
2. EliseAI
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Location: New York City, NY
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Description: EliseAI automates complex systems in healthcare and housing, leveraging conversational AI to streamline operations and enhance service delivery.
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Funding Amount: $250 million
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Funding Round: Series E
3. Titan
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Location: New York City, NY
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Description: Titan provides IT services through its augmented AI platform, delivering scalable and efficient solutions across enterprise environments.
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Funding Amount: $74 million
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Funding Round: Undisclosed
4. IVIX
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Location: New York City, NY
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Description: IVIX offers an AI-powered platform that assists governments in combating financial crime by applying large language models (LLMs) to detect illicit financial activity at scale.
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Funding Amount: $60 million
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Funding Round: Series B
5. Medallion
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Location: San Francisco, CA
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Description: Medallion specializes in provider network infrastructure powered by AI, streamlining administrative and compliance processes for healthcare organizations.
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Funding Amount: $43 million
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Funding Round: Undisclosed
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Make sure to check out our Top 5 VC Deals of the Week in AI right here!
Research Source: FinSMEs