On March 14, 2024, something big happened in the world of technology. Sixteen new companies that use artificial intelligence, or AI, raised more than $300 million altogether. One of the most exciting things about this is a special tool that lets people train their own AI models without needing to write any complicated code. But what exactly are these companies up to? Let’s take a closer look at each one to find out more.
Table of Contents
1. Physical Intelligence: Pioneering General-Purpose AI in the Physical World
Physical Intelligence secured a substantial $70 million seed round, aiming to integrate AI into robotic environments. Their focus on developing foundation models and learning algorithms promises to revolutionize robotics and shape the future of automation.
2. Empathy: Combining AI with Human Guidance for Bereavement Assistance
Empathy, with a noteworthy $47 million Series B funding and a valuation of $400 million, merges AI with human support to aid in grieving processes. From counseling to handling financial matters, their innovative approach offers holistic support during challenging times.
3. CodaMetrix: Revolutionizing Medical Coding with AI
CodaMetrix, backed by a $40 million Series B round, disrupts the healthcare sector with AI-powered medical coding solutions. By enhancing coding quality and reducing costs, they facilitate the generation of clinically enriched claims data, benefiting healthcare systems worldwide.
4. NanoNets: Streamlining Document Workflow Automation with AI
With a $29 million Series B investment, NanoNets spearheads document workflow automation using AI. Their platform extracts valuable insights from documents, emails, and databases and empowering businesses to automate tasks efficiently and improve overall productivity.
5. Cognition: Developing Fully Autonomous AI Software Engineer
Cognition’s $21 million Series A funding drives the development of Devin, a fully autonomous AI software engineer. From bug fixing to application deployment, Devin promises to streamline coding tasks, marking a significant advancement in AI-driven software development.
6. Tavus: Enabling No-Code Platform for Personalized Video Campaigns
Tavus, backed by an $18 million Series A round and valued at $80 million, offers a no-code platform for creating personalized video campaigns. Their innovative solution caters to marketers seeking to engage audiences with tailored video content effortlessly.
7. Axion Ray: AI-Powered Observability for Manufacturers
Axion Ray’s $17.5 million Series A funding fuels the development of AI-powered observability solutions for manufacturers. By leveraging AI, they enhance operational efficiency and optimize manufacturing processes, ensuring seamless production workflows.
8. Alsphere: Text-to-Video Model for China
With a $14 million Series A investment, Alsphere pioneers text-to-video models tailored for the Chinese market. Their innovative approach transforms textual content into engaging video formats, catering to the preferences of Chinese audiences.
9. Tierra Biosciences: AI-Guided Cell-Free Technology for Custom Protein Synthesis
Tierra Biosciences secures $11.4 million in Series A funding to advance AI-guided cell-free technology for custom protein synthesis.
10. Pienso: No-Code Tools for Training AI Models
Pienso’s $10 million Series A funding supports the development of no-code tools for training AI models. Their user-friendly platform empowers individuals and businesses to harness the potential of AI without extensive technical expertise.
11. Loop: AI-Powered Restaurant Back Office Platform
Loop, with a $6 million seed investment, introduces an AI-powered platform for restaurant back-office operations.
12. HawkCell: AI-Powered MRI’s for Humans and Animals
HawkCell’s $5.5 million Series A funding drives the development of AI-powered MRI technology for both human and veterinary applications. Their innovative approach enhances diagnostic accuracy and improves healthcare outcomes for all.
13. Cogna: AI-Powered Custom Software Builder
Cogna secures $4.8 million in seed funding to advance its AI-powered custom software builder. By automating software development processes, they empower businesses to accelerate innovation and adapt to evolving market demands seamlessly.
14. Milu: AI-Powered Health Savings Platform
Milu’s $4.8 million seed funding supports the development of an AI-powered health savings platform.
15. SOUNDRAW: AI Music Generation
SOUNDRAW raises $3 million to drive innovation in AI music generation.
16. Paraspot AI: AI-Powered Inspections for Real Estate
Paraspot AI secures $1.32 million in seed funding to pioneer AI-powered inspections for real estate.
