This week we continue our series on the top 5 VC-funded deals in AI.
This week’s venture capital funding announcements once again built on this year’s strong momentum, with six transactions in excess of the $100 million threshold.
The top reported deal, per FinSMEs, came from New York-based Reflection, which raised a $2 billion Series B at a $8 billion valuation in part to “continue building and releasing frontier models sustainably,” according to superintelligence developer’s announcement. Reflection is developing foundation models and training them using reinforcement learning with the belief that doing so will eventually lead to the development of artificial superintelligence, or an AI with cognitive capabilities that go beyond those of the human brain. Our second announcement comes from the AI infrastructure space where Atlanta-based QumulusAI brought in $500 million in financing to grow its infrastructure. Qumulus is developing an AI cloud that provides an alternative to the large, incumbent providers for developers, institutions and businesses. The top five also included companies with an international flavor in the business automation, warehouse intelligence, and agtech sectors.
Smaller funding raises that did not quite make our top 5 this week included announcements from the healthcare, maritime and lawtech 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 Oct. 9-Oct. 15
Research Source: FinSMEs
