Top 5 VC Deals of the Week in AI (8/30/24)

This past week we did not see a single deal pass the $100M mark for the second consecutive week, yet venture capital dollars continue to pour into the AI sector.

This week’s top deal came in at $47 million from the enterprise AI sector, where Opkey’s series B round will support its test automation platform. The second biggest announcement was in physical AI, where artificial intelligence meets real-world applications. The top five also included legal tech, cloud services and mental health, once again showing the breadth and reach of artificial intelligence, even in these early stages of its proliferation.

Smaller funding raises that did not make our top 5 this week included announcements in the communications, travel and medical technology 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

1. Opkey

• Location: San Francisco, CA
• Description: Opkey is an AI-driven continuous test automation platform designed for enterprise systems, aimed at enhancing software quality and accelerating deployment processes.
• Funding Amount: $47M
• Funding Round: Series B

2. Butler

• Location: Burlingame, CA
• Description: Butler is a physical AI (PAI) startup focused on developing AI technologies that integrate seamlessly with physical devices to enhance functionality and user interaction.
• Funding Amount: $38M
• Funding Round: Series B

3. nOps

• Location: San Francisco, CA
• Description: nOps provides an AI platform to help businesses manage and optimize their cloud usage, spending, and commitments on Amazon Web Services, driving efficiency and cost savings.
• Funding Amount: $30M
• Funding Round: Series A

4. Slingshot AI

• Location: New York, NY and London, UK
• Description: Slingshot AI is an AI mental health startup that uses artificial intelligence to provide innovative solutions for mental health and well-being.
• Funding Amount: $30M
• Funding Round: Seed

5. Supio

• Location: Seattle, WA
• Description: Supio offers a purpose-built AI platform designed to assist personal injury and mass tort plaintiff law firms in streamlining case management and legal processes.
• Funding Amount: $25M
• Funding Round: Series A