Startups - Maginative

Venture Capital Startups

Cognition AI Raises $175M at $2B Valuation, One Month After Series A

Chris McKay• April 25, 2024 • 2 min read

Cognition AI's rapid ascent in valuation is not an isolated case. The company joins a growing list of AI startups attracting massive investments despite generating little to no revenue.

Venture Capital Startups Cybersecurity

Dropzone AI Raises $16.85M to Empower SOCs with Autonomous AI Investigations

Chris McKay• April 25, 2024 • 2 min read

The company's AI SOC analysts are designed to replicate the techniques of elite human analysts, reducing manual analysis by up to 90%.

Venture Capital Startups

Augment Emerges from Stealth with $252M to Supercharge Software Development with AI

Richard Banfield• April 24, 2024 • 1 min read

The funding will be used to accelerate product development and build out its product, engineering, and go-to-market functions as it prepares for rapid growth.

Venture Capital Startups

Parloa Secures $66M Series B to Scale AI-Powered Customer Service

Richard Banfield• April 24, 2024 • 2 min read

The company's solution enables organizations to deliver personalized, dynamic, and human-like experiences to customers while reducing wait times and automating routine tasks for employees.

Venture Capital Startups

FlexAI Launches with $30M in Funding to Simplify AI Compute Infrastructure

Chris McKay• April 24, 2024 • 2 min read

FlexAI's universal AI compute platform will enable developers to utilize multiple hardware configurations without the hassle of manual code changes.

NVIDIA Startups

NVIDIA to Acquire GPU Orchestration Software Provider Run:ai

Richard Banfield• April 24, 2024 • 2 min read

The company's platform simplifies the management and optimization of AI hardware infrastructure, enabling efficient use of computing resources across shared accelerated computing infrastructure.

Venture Capital Startups

Perplexity Raises $62.7M, Unveils Enterprise Pro, and Partners with SoftBank and Deutsche Telekom

Richard Banfield• April 23, 2024 • 2 min read

Enterprise Pro boasts enhanced features such as increased data privacy, user management, SOC2 certification, and single sign-on (SSO) integration.

Venture Capital Startups

AI Has an Energy Problem, Exowatt Plans to Solve It

Chris McKay• April 22, 2024 • 2 min read

Exowatt, a next-generation renewable energy company, has emerged from stealth with a novel solution to tackle the escalating energy demands of AI and data centers.

Robotics Startups

Mentee Robotics Unveils AI-Powered Humanoid Robot for Household and Warehouse Applications

Chris McKay• April 17, 2024 • 2 min read

Mentee Robotics describes its creation as an "AI-first" robot, setting it apart from many other players in the space.

Microsoft Startups

Microsoft Invests $1.5 Billion in UAE's G42

Chris McKay• April 16, 2024 • 2 min read

The deal is backed by an unprecedented Intergovernmental Assurance Agreement, ensuring the secure and responsible deployment of AI in close coordination with the UAE and U.S. governments.

Venture Capital Startups

Cathie Woods Bets Big on AI, Acquires Stake in OpenAI

Chris McKay• April 11, 2024 • 1 min read

In a message to investors: As of April 10, 2024, the Ark Venture Fund invests in OpenAI, referring to its $54 million VC fund. OpenAI is at the forefront of a Cambrian explosion in artificial intelligence capability.

Venture Capital Startups

Patlytics Raises $4.5M Seed Round to Reimagine Patent Workflow with AI

Richard Banfield• April 11, 2024 • 1 min read

The platform offers end drafts, extensive chart solutions, and incorporates human participation alongside its AI-powered insights and analytics.

Venture Capital Startups

Udio is a New AI Music Generation App that Rivals Suno with Powerful Creation Tools

Chris McKay• April 10, 2024 • 2 min read

Their app, which was previously only available in closed beta, has already garnered attention from prolific artists and music producers who have provided feedback to enhance the user experience.

Venture Capital Startups

Symbolica Raises $31M to Redesign AI with Structured Reasoning

Chris McKay• April 9, 2024 • 3 min read

By applying category theory, Symbolica aims to develop models capable of structured reasoning. This means that instead of simply predicting the next word, these models will be able to logically process, organize, and generate information based on a set of rules or structured understanding.

Venture Capital Startups

Archetype AI Raises $13M, Emerges from Stealth with Newton, a Foundation Model for Understanding the Physical World

Chris McKay• April 5, 2024 • 2 min read

At the core of Archetype AI's Large Behavior Model is a universal embedding space that integrates all sensor data into a single compressed mathematical representation of the physical world, updated in real time.

Venture Capital Startups Chips

SiMa.ai Raises Additional $70M to Bring its Multimodal Generative AI Chips to Edge Devices

Richard Banfield• April 4, 2024 • 2 min read

SiMa.ai's proprietary combination of silicon and software allows the MLSoC to adapt to any framework, network, model, sensor, or modality, making it a versatile platform for edge AI applications.

Venture Capital Startups

Higgsfield AI Raises $8M to Bring Personalized AI to Social Media Video Creation

Chris McKay• April 3, 2024 • 2 min read

The startup plans to stand out from competitors by focusing on a mobile-first, social-forward go-to-market strategy.

Venture Capital Startups

Read AI Raises $21M to Transform Work with Connected AI for Meetings, Email, and Messaging

Chris McKay• April 2, 2024 • 2 min read

Read AI was founded in 2021 by David Shim, Robert Williams, and Elliott Waldron and has raised over $32 million to date.

Venture Capital Startups

Hailo Raises $120M and Unveils Hailo-10 Accelerator

Richard Banfield• April 2, 2024 • 2 min read

The Hailo-10 accelerator enables users to run applications like chatbots, copilots, and content generation tools locally on their devices without relying on cloud-based services.

Venture Capital Startups

Vizcom Secures $20M Series A to Redefine Industrial Design with AI

Chris McKay• March 29, 2024 • 2 min read

The investment will accelerate the company's mission to rethink the way products and objects are designed, and provide designers with an intuitive, AI-driven workflow.

Venture Capital Startups Voice AI

Hume AI Raises $50M Series B, Unveils Empathic Voice Interface

Chris McKay• March 27, 2024 • 3 min read

This influx of capital brings the company's valuation to $219 million, signaling strong investor confidence in Hume's innovative approach to AI.

Venture Capital Startups HeyGen

HeyGen Raising $60M at $440M Valuation, Launches HeyGen 5.0

Chris McKay• March 25, 2024 • 2 min read

HeyGen's growth story is remarkable, with annualized revenues surging from $1 million to over $20 million in just a year. This trajectory is notable in the generative AI sector, where monetization remains a challenge for many.

Databricks Startups

Databricks Acquires Lilac AI to Simplify Unstructured Data Evaluation for Generative AI

Richard Banfield• March 20, 2024 • 2 min read

The acquisition of Lilac AI is the latest in a series of moves by Databricks to strengthen its position in the AI market.

Startups

Saudi Arabia Aims to Become World's Largest AI Investor with $40 Billion Fund

Richard Banfield• March 20, 2024 • 2 min read

The Saudi fund's representatives have been in talks with Andreessen Horowitz, whose co-founder Ben Horowitz shares a friendship with the fund's governor, to discuss the potential role the firm could play and the operational aspects of such a fund.

Venture Capital Startups Robotics

Physical Intelligence Raises $70M to Build AI-Powered Robots for Any Application

Richard Banfield• March 12, 2024 • 2 min read

Pi differentiates itself by aiming to create software that can be applied across a wide range of robotics hardware.