July 22, 2024

Here’s the full list of 28 US AI startups that have raised $100M or more in 2024

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For some, AI fatigue is real — but clearly venture investors haven’t grown tired of the category.

In the first half of 2024 alone, more than $35.5 billion was invested into AI startups globally, recent Crunchbase data found. Five of the six venture rounds of more than $1 billion raised in the first half of 2024 were raised by AI companies.

Many other AI startups were able to raise mega-rounds of more than $100 million. U.S. startups raised two of the billion-dollar rounds in the first half of this year and nearly two-thirds, 64%, of the mega-rounds.

Here are the U.S.-based AI companies that raised $100 million or more so far in 2024:

July

• Hebbia, $130 million: Andreessen Horowitz led the round for Hebbia that closed July 8. The startup, which uses generative AI to search large documents, also raised money from Peter Thiel, Index Ventures and Google Ventures and garnered a $700 million valuation.
• Skild AI, $300 million: Pittsburgh-based Skild AI announced a $300 million Series A round on July 9 that valued the company at $1.5 billion. The round was led by Lightspeed Venture Partners, Coatue and Jeff Bezos’ Bezos Expeditions with participation from Sequoia, Menlo Ventures and General Catalyst, among others. Skild AI builds tech to power robots.

June

• Bright Machines, $106 million: BlackRock led a $106 million Series C round into Bright Machines that closed on June 25. Nvidia, Microsoft and Eclipse Ventures, among others, also participated. The startup makes both smart robotics and AI-driven software and has raised more than $437 million in total funding.
• Etched.ai, $120 million: San Francisco-based Etched.ai raised a $120 million Series A round on June 25. The round was led by Primary Venture Partners and Positive Sum with participation from Two Sigma Ventures, Peter Thiel and Kyle Vogt, among others. Etched.ai is working to make chips that can run AI models faster and cheaper than GPUs.
• EvolutionaryScale, $142 million: New York-based EvolutionaryScale is developing biological AI models for therapeutic design. It raised a $142 million seed round that closed on June 25. The round was led by Lux Capital, former GitHub CEO Nat Friedman and Daniel Gross, an angel investor and former head of AI at Y Combinator. The company was founded in 2023.
• AKASA, $120 million: Healthcare revenue cycle automation platform Akasa announced a $120 million round on June 18. The San Francisco-based startup has collected $205 million in total funding and has raised from investors, including Andreessen Horowitz, Costanoa Ventures and Bond in prior rounds.
• AlphaSense, $650 million: New York-based AlphaSense raised a $650 million Series F round that was announced on June 11. The round was led by Viking Global Investors and BDT & MSD Partners with participation from CapitalG, SoftBank Vision Fund and Goldman Sachs, among others. AlphaSense is a market intelligence platform founded in 2008. The company has raised more than $1.4 billion in venture funding and was most recently valued at $4 billion.

May

• xAI, $6 billion: Elon Musk’s xAI raised a jaw-dropping $6 billion Series B round on May 31 from investors, including Sequoia, Valor Equity Partners and Fidelity, among others. The startup is building an AI platform that will ‘accelerate human scientific discovery’ and is valued at an equally stunning $24 billion.
• Scale AI, $1 billion: Scale AI, a startup that provides data-labeling services to companies for training AI models, raised $1 billion in May. The Series F round was led by Accel with participation from Tiger Global, Spark Capital and Amazon, among others. San Francisco-based Scale AI has raised more than $1.6 billion in total and is currently valued at nearly $14 billion.
• Suno, $125 million: AI-music creation platform Suno raised $125 million in a Series B round that closed on May 21. The round values the Cambridge, Massachusetts, startup at $500 million. Founder Collective, Lightspeed Venture Partners and Matrix participated in the round in addition to former GitHub CEO Nat Friedman and former head of AI at Y Combinator Daniel Gross.
• Weka, $140 million: Silicon Valley-based Weka created an AI-native data platform and raised $140 million in a Series E round that closed on May 13. The funding was led by Valor Equity Partners with participation from Qualcomm Ventures, Nvidia and Hitachi Ventures, among others. The startup was valued at $1.6 billion.
• CoreWeave, $1.1 billion: New Jersey-based GPU infrastructure provider CoreWeave raised $1.1 billion in a Series C round that closed on May 1. Coatue led the round with participation from Fidelity, Altimeter Capital and Magnetar Capital, among others. CoreWeave was launched in 2017 and is valued at $19 billion.

April

• Blaize, $106 million: AI computing platform company Blaize raised $106 million in a Series D round that was announced on April 29. The round had participation from investors, including Temasek, Franklin Templeton and Bess Ventures, among others. The company was founded in 2010 and has raised $242 million.
• Augment, $227 million: Palo Alto-based Augment raised $227 million for its AI coding assistance startup. The startup’s Series B round was announced on April 24. Lightspeed Venture Partners, Index Ventures and Sutter Hill Ventures participated in the round, which valued the startup just shy of $1 billion.
• Cognition, $175 million: Founders Fund led applied AI lab startup Cognition’s $175 million round that closed on April 24. This round came just about a month after the firm raised a $21 million Series A round in March from Founders Fund and numerous other investors, including Ramp co-founder Eric Glyman, Stripe co-founders Patrick and John Collison, and DoorDash co-founder Tony Xu. The company was founded in November 2023 and is already valued at nearly $2 billion.
• Xaira Therapeutics, $1 billion: San Francisco-based AI drug discovery startup Xaira Therapeutics raised a $1 billion Series A round. Foresite Capital and ARCH Venture Partners led the round that was announced on April 23. Sequoia, NEA and Lux Capital participated in the round, among many others.
• Cyera, $300 million: Coatue led the recent $300 million Series C round into AI-powered data security platform Cyera that closed on April 9. The round valued New York-based startup at $1.4 billion. Sequoia, Redpoint and Accel also participated in the round, among others.

March

• Celestial AI, $175 million: Celestial AI, founded in 2020, is building an optical interconnect technology platform for data centers and AI solutions and raised a $175 million Series C round on March 27, which brought its total funding amount to $338 million. The round was led by Thomas Tull’s US Innovative Technology Fund with participation from M Ventures, Temasek and Tyche Partners, among others.
• FundGuard, $100 million: FundGuard is a New York-based startup offering an AI-powered investment accounting operating system that raised $100 million at a $400 million valuation. The Series C round closed on March 25 and was led by Key1 Capital with participation from Hamilton Lane, Blumberg Capital and Team8, among others.
• Together AI, $106 million: Salesforce Ventures led Together AI’s $106 million Series A round that valued the company at $1.2 billion. Together AI is a platform designed to help create infrastructure and open source generative AI for developing AI models. NEA, Kleiner Perkins and Lux Capital also participated in the round, among others. The round was announced on March 13.
• Zephyr AI, $111 million: Fairfax Station, Virginia-based Zephyr AI raised a $111 million Series A round that closed on March 13. Revolution Growth, Eli Lilly and Company Foundation, EPIQ Capital Group and investor Jeff Skoll all participated in the round. The startup, founded in 2020, uses AI to enhance drug discovery and precision medicine. It has raised $129.5 million total so far.

February

January

• Kore.ai, $150 million: A startup building conversational AI for enterprises, Kore.ai raised a $150 million Series D round that was announced on January 30. FTV Capital led the round into the Orlando, Florida-based company. Nvidia, Vistara Growth, and NextEquity Partners participated as well, among others. Kore.ai was founded in 2013 and has raised more than $223 million in funding.

Reference: https://techcrunch.com/2024/07/13/heres-the-full-list-of-28-us-ai-startups-that-have-raised-100m-or-more-in-2024/

Ref: techcrunch

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