AI’s Power Surge 2024: Inside the Game-Changing Funding Rounds Reshaping Tech and Business

Artificial intelligence funding surged across 2024, fueling a wave of investments that spanned voice tech, enterprise software, semiconductors, robotics, and quantum AI. Private rounds, government-backed incentives, corporate venture bets, and strategic acquisitions created a rich tapestry of capital flows aimed at accelerating AI capabilities, expanding geographic reach, and turbocharging product development. As the year progressed, billions of dollars flowed into AI-enabled platforms designed to automate complex workflows, enhance decision-making, and unlock new efficiencies across finance, healthcare, manufacturing, and beyond. This comprehensive, month-by-month review examines the notable funding events, the strategic aims behind them, and the broader implications for the AI landscape in 2024, with emphasis on how these investments could shape operations, competitiveness, and innovation in 2025 and beyond.

December 2024

Databricks, Inc.
Date of Funding: December 17, 2024
Amount Raised: $10 billion (with $8.6 billion raised to date)
Investors: Led by Thrive Capital and co-led by Andreessen Horowitz, DST Global, GIC, Insight Partners, and WCM Investment Management, with additional participation from Ontario Teachers’ Pension Plan, ICONIQ Growth, MGX, Sands Capital, and Wellington Management.
Aim of Funding: The rapid influx of capital is earmarked to accelerate investment in new AI products, pursue strategic acquisitions, and expand international operations. It will also provide liquidity for employees and cover associated tax obligations. Management envisions moving toward positive free cash flow and anticipates surpassing a $3 billion revenue run rate by Q4 2025, signaling a bold push to convert growth into sustained profitability.

Micron Technology, Inc.
Date of Funding: December 10, 2024
Amount Raised: Up to USD 6.2 billion
Investor Details: Funding delivered through the U.S. Department of Commerce’s CHIPS and Science Act, a federal program designed to strengthen domestic semiconductor manufacturing and technology leadership.
Aim of Funding: The capital supports Micron’s ambitious plans to establish advanced memory chip facilities in New York and Idaho, focusing on DRAM and High-Bandwidth Memory (HBM). This investment is part of a broader USD 125 billion initiative over the next two decades aimed at bolstering U.S. memory chip manufacturing capabilities, creating roughly 20,000 jobs, and expanding the country’s share of advanced memory production to 10% by 2035.

Basis
Date of Funding: December 17, 2024
Amount Raised: $34 million
Investor Details: Basis secured Series A funding led by Khosla Ventures’ Managing Director Keith Rabois, with notable participation from former GitHub CEO Nat Friedman and Safe Superintelligence Co-Founder Daniel Gross.
Aim of Funding: The infusion will accelerate the development and deployment of Basis’s AI-powered agents designed specifically for accountants. The capital will bolster platform enhancements, enabling accountants to streamline tasks, generate reports, and substantially reduce time spent on manual processes. The round also supports rollout across accounting firms, driving efficiency and productivity within the industry.

Justt Inc.
Date of Funding: December 19, 2024
Amount Raised: $30 million (Series C); Total Funding $100 million
Investor Details: The Series C will empower Justt to accelerate expansion into high-growth regions and further enhance its AI-powered chargeback management platform.
Aim of Funding: The investment supports refinement of Justt’s AI-driven platform, which leverages more than 500 data points to optimize chargeback dispute outcomes. With the funding, the company aims to achieve profitability by 2027, enabling rapid global expansion and ongoing innovation.

Perplexity AI
Company Name: Perplexity AI
Date of Funding: Early December 2024
Amount Raised: $500 million
Valuation Post-Funding: $9 billion (tripled from $3 billion earlier in 2024)
Investor Details: The round was backed by SoftBank, Nvidia, and Amazon founder Jeff Bezos.
Aim of Funding: The funds will accelerate Perplexity AI’s development of its AI-powered product suite, including the Buy With Prime shopping assistant. The investment will support global market expansion, continued AI search innovation, and revenue-sharing partnerships with news publishers.

Bureau
Date of Funding: December 18, 2024
Amount Raised: $30 million (Series B)
Investor Details: Led by Sorenson Capital, with participation from PayPal Ventures.
Aim of Funding: Bureau intends to enhance its AI-powered fraud prevention platform, designed to help businesses detect and prevent fraudulent activities without compromising user experience. The financing will enable the company to address increasingly sophisticated threats such as deepfake identities and account takeovers, drawing on a robust mix of device, behavioral, financial, and partner data to stay ahead.

SandboxAQ
Date of Funding: December 18, 2024
Amount Raised: $300 million
Total Valuation: $5.6 billion
Investor Details: Backed by tech-focused venture capital firms familiar with AI, including a cadre of strategic investors.
Aim of Funding: The capital will accelerate SandboxAQ’s quantum-powered AI capabilities. The company plans to transition from GPUs to quantum processing units (QPUs) to enhance predictive modeling, leveraging quantum mechanics in tandem with AI algorithms. The goal is to deliver higher-fidelity models for corporate customers and broaden collaborations with major professional services firms.

WaveForms AI
Date of Funding: December 9, 2024
Amount Raised: $40 million (Series A); Total Valuation $200 million
Investor Details: Led by Andreessen Horowitz
Aim of Funding: The round will support WaveForms AI’s work in voice AI technology that interprets emotional cues in conversation, enriching human–machine interactions. The company intends to create more immersive voice assistant software capable of understanding not just words but how they are spoken, leading to more natural, responsive interactions. A key objective is to transform voice interfaces by delivering human-like, adaptive communication in real time without requiring pre-training for specific conversational nuances.

Briefcase
Date of Funding: December 4, 2024
Amount Raised: $3 million (Seed); Total Valuation not specified
Investor Details: Lead by Earlybird Venture Capital, with participation from Tiny Supercomputer Investment Company (TSIC), Entrepreneur First, and multiple angel investors.
Aim of Funding: Briefcase intends to hire engineers and product experts to advance its AI-powered bookkeeping platform, aiming to boost speed, VAT compliance, and accuracy. It already partners with UK accounting firms, with pre-launch activities focusing on redefining accounting automation, featuring smart categorization and audit logs.

9fin
Date of Funding: December 2, 2024
Amount Raised: $50 million (Series B); Total Valuation not specified
Investor Details: Led by Highland Europe, with additional participation from other investors.
Aim of Funding: 9fin will use the funding to strengthen its AI technology, expand its analytics team, and accelerate growth in the United States. Specializing in global debt capital markets intelligence, 9fin provides data on high-yield bonds, leveraged loans, and private credit, integrating generative AI for tools like agentic Q&A, real-time updates, and advanced search.

Tenstorrent
Date of Funding: December 2, 2024
Amount Raised: $700 million (Series D)
Valuation: $2.6 billion
Investors: The round was led by Amazon founder Jeff Bezos and Samsung.
Aim of Funding: Tenstorrent plans to deploy the investment toward expanding its engineering team, strengthening its supply chain, and developing large AI training servers to demonstrate its technology. It focuses on delivering a more cost-effective alternative to Nvidia by creating AI processors and improving interoperability with other tech providers.

November 2024

Argil
Date of Funding: November 27, 2024
Amount Raised: $5.2 million (Seed Round); Valuation not disclosed
Investors: Led by EQT Ventures
Aim of Funding: Argil seeks to enhance its AI-powered video generation platform, enabling businesses, educators, and creators to produce lifelike avatars-based videos in minutes, capitalizing on the rapid growth of AI and the creator economy.

Google Vets
Date of Funding: November 26, 2024
Amount Raised: $56 million (Seed Round); Valuation $500 million
Investors: Not disclosed
Aim of Funding: Google Vets intends to build an operating system for AI agents, creating a universal technical framework to enable AI agents to communicate and collaborate effectively, akin to Android for mobile apps. This could transform AI workflows and boost business efficiency.

Boosted.ai
Date of Funding: November 25, 2024
Amount Raised: $15 million (Series A); Valuation not disclosed
Investors: Not disclosed
Aim of Funding: Boosted.ai plans to expand its Alfa platform, which helps investment managers automate workflows and improve decision-making. The aim is to strengthen agentic AI that mimics user thinking to streamline portfolio management tasks and cut down on research and analysis time.

Credit Bureau Center
Date of Refund: November 21, 2024
Amount Refunded: $1.9 million
Valuation: Not applicable
Investors: Not applicable
Aim of Refund: The FTC is refunding $1.9 million to victims of a credit report scam led by Credit Bureau Center (formerly MyScore LLC). The scam misled consumers into enrolling in a costly credit monitoring service while advertising “free” credit reports. This refund is part of the FTC’s 2017 lawsuit settlement to compensate defrauded consumers.

Lightning AI
Date of Funding: November 21, 2024
Amount Raised: $50 million (Equity Investment)
Valuation: Not disclosed
Investors: Cisco Investments, J.P. Morgan, K5 Global, Nvidia
Aim of Funding: Lightning AI will use the funds to expand its PyTorch Lightning AI framework, which unifies enterprise machine learning infrastructure with low-code and no-code solutions, multi-cloud deployment, and streamlined model training. The aim is to reduce the complexity of building AI infrastructure for enterprises and support its rapid growth, including 240,000 users across 2,000 organizations.

xAI
Date of Funding: November 20, 2024
Amount Raised: $5 billion (Funding Round)
Valuation: $50 billion (Doubling from $24 billion in the prior round)
Investors: Not disclosed
Aim of Funding: xAI intends to deploy new funds to add 100,000 Nvidia chips for training its AI models, scaling its Colossus 100k H100 training cluster, and expanding its AI capabilities. The goal is to broaden its global footprint and bring the company’s total raised in 2024 to $11 billion.

Class8 (formerly FleetOps)
Date of Funding: November 19, 2024
Amount Raised: $22 million (Series A); Valuation not disclosed
Investors: Led by Xplorer Capital
Aim of Funding: Class8 will invest in expanding its AI-driven logistics platform to process 1 billion daily data points from 227,000 trucks. It will optimize dispatch, load matching, fuel usage, insurance, and maintenance, leveraging OEM data to improve profitability and resilience in volatile markets.

October 2024

Suki
Date of Funding: October 10, 2024
Amount Raised: $70 million; Valuation not disclosed
Investors: Not disclosed
Aim of Funding: Suki will use the funds to accelerate AI-powered healthcare solutions, including a clinician-focused voice assistant. The platform automates tasks such as note-taking, data retrieval, and medication reconciliation to improve efficiency amidst labor shortages. The company aims to deepen partnerships with MedStar Health and broaden its technology across health systems.

OpenAI
Date of Funding: October 2, 2024
Amount Raised: $6.6 billion
Valuation: $157 billion
Investors: Not disclosed
Aim of Funding: The funds will support expansion of OpenAI’s leadership in AI research, increased computational capacity, and ongoing development of its problem-solving tools, including ChatGPT. With more than 250 million weekly active users, OpenAI seeks to advance artificial general intelligence (AGI) and maintain its competitive edge in the AI market.

Numa
Date of Funding: October 1, 2024
Amount Raised: $32 million (Series B)
Investors: Touring Capital, Mitsui & Co., Costanoa Ventures, Threshold, Gradient Ventures
Aim of Funding: Numa will use the capital to grow its AI engineering team, accelerate product development, and enhance AI-powered dealership operations. Its agents automate tasks such as appointment scheduling and customer support to improve response times and repair order revenue, with the broader aim of creating brighter, faster, and more customer-centric dealerships.

September 2024

HPC‑AI Tech
Date of Funding: September 30, 2024
Amount Raised: $50 million (Series A)
Investors: Not disclosed
Aim of Funding: The funds will be directed toward advancing its AI software infrastructure and video generation platforms. The company aims to reach 300 clients in three years and has established commercial platforms such as Colossal-AI and Open-Sora for scalable AI workloads and video generation. The financing will enable expansion of its customer base and enhancement of its AI infrastructure.

Desia
Date of Funding: September 24, 2024
Amount Raised: $3.3 million (Pre-seed)
Investors: Dig Ventures (led the funding)
Aim of Funding: Desia will develop AI applications focused on productivity, automation, and analytics in the financial investment space. Its product automates data analysis and processing, addressing manual data handling and unstructured data challenges. The company plans to expand into the United Kingdom, United States, and Europe, aiming to improve efficiency and resource allocation for investment professionals.

Torq
Date of Funding: September 24, 2024
Amount Raised: $70 million (Series C)
Investors: Evolution Equity Partners (led)
Aim of Funding: Torq will bolster its AI-driven cybersecurity solutions, add generative AI capabilities, expand its talent pool, and accelerate growth in EMEA and APAC. The Torq HyperSOC platform automates SOC responses, including event investigation and case management, enabling security analysts to focus on strategic tasks and increase productivity.

Phacet
Date of Funding: September 23, 2024
Amount Raised: $4.4 million (Seed)
Aim of Funding: Phacet will expand its AI tools for SMEs across eCommerce, industry, and finance. The platform offers customized AI applications and a collaborative AI Bootcamp, ensuring data connectivity, a consistent user experience, and cost control. It seeks to bridge the gap between evolving AI models and SME needs.

World Labs
Date of Funding: September 13, 2024
Amount Raised: $230 million
Investors: Andreessen Horowitz, NEA, Radical Ventures
Aim of Funding: World Labs will develop large world models (LWMs) that interact with virtual and real three-dimensional worlds. These spatially intelligent models empower users—artists, engineers, and others—to create virtual spaces with physical and semantic properties. The company aims to transform design, gaming, AR, VR, and robotics.

Illuma Labs
Date of Funding: September 12, 2024
Amount Raised: $9 million
Investors: Connexus Credit Union
Aim of Funding: Illuma Labs will accelerate its voice verification technology for banking contact centers to combat fraud, deepfakes, and voice cloning. The technology aims to provide a secure, efficient alternative to traditional authentication, reducing call times and costs while enhancing customer service.

Bounti
Date of Funding: September 12, 2024
Amount Raised: $16 million
Investors: Google Ventures
Aim of Funding: Bounti will expand its AI-powered platform for sales, marketing, and customer success teams. The platform automates tasks such as prospecting and research, enabling teams to focus more on customer relationships. The company plans to enhance its software and human-in-the-loop services to accelerate revenue growth, with AI teammates specializing in personalized emails and research.

Connectly
Date of Funding: September 11, 2024
Amount Raised: $20 million
Investors: Led by Alibaba, with participation from Unusual Ventures, Volpe Capital, RX Ventures, Falabella Ventures, and Philippos Kourkoulos Latsis
Aim of Funding: Connectly will build its AI-powered conversational commerce platform, enabling retailers to engage in personalized two-way communications with customers. The platform supports interactive campaigns and automated conversations without coding, aiming to replace traditional one-way channels like SMS and email and to improve sales and engagement.

Glean
Date of Funding: September 10, 2024
Amount Raised: $260 million
Investors: Co-led by Altimeter and DST Global
Aim of Funding: The funding will accelerate Glean’s Work AI platform, which connects enterprise data, people, and processes securely and intuitively. It will support AI innovation, customer acquisition, and global expansion. The platform includes enterprise search, AI assistants, and tools for custom AI applications, with plans to enhance Zendesk and Salesforce Service Cloud support tools.

Safe Superintelligence (SSI)
Date of Funding: September 6, 2024
Amount Raised: $1 billion
Investors: NFDG, Andreessen Horowitz, Sequoia Capital, DST Global, SV Angel
Aim of Funding: The funding supports recruitment of top engineers and researchers, scaling computing power, and further development of AGI safety protocols. SSI’s approach to scaling differs from OpenAI, though specific strategies remain undisclosed.

Sedric AI
Date of Funding: September 5, 2024
Amount Raised: $18.5 million
Investors: Led by Foundation Capital
Aim of Funding: The allocation will support the development of Sedric’s AI-powered compliance platform for financial institutions, plus the expansion of its Tel Aviv AI lab and global go-to-market teams. The platform helps compliance officers monitor customer touchpoints, flag deviations, and take corrective actions. As attention to generative AI grows, Sedric aims to provide a bank-ready solution enabling compliance and business growth.

August 2024

EliseAI
Date of Funding: August 15, 2024
Amount Raised: $75 million
Investors: Not disclosed
Aim of Funding: EliseAI will enhance communication in housing and healthcare via AI. The company serves millions of rental units across the U.S., with products like LeasingAI for property management and ResidentAI for renter communication. Its HealthAI offering automates non-clinical healthcare tasks, aimed at improving operational efficiency, sustainability, and accessibility in housing and health sectors. The company’s current valuation surpasses $1 billion.

Consensus
Date of Funding: August 14, 2024
Amount Raised: $11.5 million
Investors: Union Square Ventures
Aim of Funding: Consensus will expand its AI-powered scientific search engine to make research papers more accessible to academics, students, doctors, and the general public. With 400,000 monthly active users and $1.5 million in annualized revenue since its 2022 winter launch, the expansion will grow the team and enhance the platform’s ability to improve accessibility and efficiency in scientific literature searches, dramatically reducing the time researchers spend locating relevant information.

PayZen
Date of Funding: August 13, 2024
Amount Raised: $232 million
Investors: NEA (equity), with a $32 million equity portion and a $200 million credit warehouse
Aim of Funding: PayZen will utilize the Series B funding to advance its AI-powered healthcare affordability platform, which simplifies payment processes for healthcare systems and helps patients access and afford care. The platform has demonstrated significant growth, with sixfold year-over-year expansion and 100% customer retention. The funding will enable further refinement and expansion to remove financial barriers to healthcare, reinforcing PayZen’s position as a leader in transforming healthcare affordability through AI.

FLYR
Date of Funding: August 8, 2024
Amount Raised: $295 million
Investors: WestCap (led the round), with $225 million in Series D capital and $70 million in credit
Aim of Funding: FLYR will leverage the funding to strengthen its AI-based platform for the travel industry, delivering global reservation systems and decision-automation solutions for airline and hospitality brands. The platform aims to improve data management, system integration, and customer experience. With 290% growth in annualized recurring revenue over the past year, FLYR intends to accelerate digital transformation for travel brands by offering adaptable, modular AI platforms. The funds will fuel development and global expansion.

Contextual AI
Date of Funding: August 1, 2024
Amount Raised: $80 million
Investors: Led by Greycroft
Aim of Funding: Contextual AI will use Series A funds to scale its enterprise AI platform, focusing on production-grade large language models (LLMs). The platform enables rapid deployment of RAG 2.0 applications and supports secure SaaS or on-prem deployments. Use cases include customer support and investment research, with the funding aimed at broadening reach and enhancing solutions through RAG 2.0 and contextual language models (CLMs).

Groq
Date of Funding: August 5, 2024
Amount Raised: $640 million
Investors: Led by funds and accounts managed by BlackRock Private Equity Partners
Aim of Funding: Groq will scale its AI inference platform, GroqCloud, by adding more than 100,000 language processing units (LPUs). The investment expands its tokens-as-a-service (TaaS) offering and supports new models, enabling GroqCloud to serve 360,000+ developers and accelerate innovation with improved performance and efficiency.

Axle Automation
Date of Funding: July 29, 2024
Amount Raised: $2.5 million
Investors: Led by Diagram Ventures
Aim of Funding: Seed funds will support Axle Automation as it scales its team and expands its AI-powered anti-money laundering (AML) and know-your-customer (KYC) solutions to more financial institutions, including FinTechs and banks. The company uses generative AI to automate enhanced due diligence and other compliance processes, reducing fraud risk, cutting costs, and boosting revenue. The round underpins Axle’s plan to become a market leader in AI-driven compliance.

July 2024

Aveni
Date of Funding: July 29, 2024
Amount Raised: $14 million
Investors: Lloyds Banking Group, Nationwide, and others
Aim of Funding: Aveni, a Scottish fintech, will develop AI products and large language models (LLMs) tailored to financial services. The company plans to collaborate with investors to advance FinLLM, a financial services-focused LLM. Aveni emphasizes building small, highly tuned language models trained on financial data, with industry experts validating correctness, transparency, and trust. The sector has been cautious about AI adoption, but this funding signals a push toward efficiency and cost reduction.

Fractile
Date of Funding: July 26, 2024
Amount Raised: $15 million (Seed); Total Funding $17.5 million
Investors: Kindred Capital, NATO Innovation Fund, Oxford Science Enterprises
Aim of Funding: Fractile will deploy seed funds to expand its team and accelerate the development of its AI chip, promising 100x faster processing and 10x lower costs. The chip targets AI challenges and enables more efficient models, transforming performance and accessibility. The investment lays the groundwork for a new era in AI hardware and computational efficiency.

Pearl
Date of Funding: July 24, 2024
Amount Raised: $58 million (Series B)
Investors: Not specified in the release
Aim of Funding: Pearl intends to use the Series B to broaden its AI product line. Its machine learning and computer vision tools improve diagnostic accuracy, assist in X-ray reading, and enhance patient care. The funding will accelerate 3D disease tracking, treatment planning, and global accessibility, reinforcing Pearl’s role in AI-enabled healthcare.

Pindrop
Date of Funding: July 17, 2024
Amount Raised: $100 million (Debt Financing)
Investors: Hercules Capital
Aim of Funding: Pindrop will spend the debt financing to advance its audio, voice, and AI technologies, focusing on protecting industries such as banking, finance, healthcare, and retail from cyber threats. The financing will elevate fraud prevention, leveraging a data-rich history of 5.3 billion calls and $2 billion in fraud loss prevention, to strengthen security for critical sectors.

Skild AI
Date of Funding: July 9, 2024
Amount Raised: $300 million (Series A)
Investors: Lightspeed Venture Partners, Coatue, SoftBank Group, Jeff Bezos (via Bezos Expeditions)
Aim of Funding: Skild AI will deploy the Series A funds to scale its AI model and training datasets for general-purpose robots. The model is intended to serve as a shared brain for robots across industries, addressing labor shortages and supporting healthcare, security, and other sectors.

Fireworks AI
Date of Funding: July 8, 2024
Amount Raised: $52 million; Valuation: $552 million
Investors: Nvidia
Aim of Funding: Fireworks AI will use the capital to expand its AI product offerings focused on smaller, customizable, secure, and privately deployable models. The company’s technology enables ultra-fast LoRA fine-tuning, allowing businesses to tailor models to specific needs. The round supports the creation of a compound system capable of orchestrating multiple specialized AI models.

Index Ventures
Date of Funding: July 10, 2024
Amount Raised: $2.3 billion
Investors: N/A (Venture capital firm)
Aim of Funding: Index Ventures raised a substantial fund for AI projects, designating $800 million for early-stage startups and the rest for later-stage companies. The firm aims to capitalize on AI’s transformative potential across industries, with investments spanning Mistral, Scale AI, and DeepL, exploring opportunities across the AI landscape.

Captions.ai
Date of Funding: July 9, 2024
Amount Raised: $60 million
Investors: Index Ventures
Aim of Funding: Captions.ai secured Series C funding to enhance its generative AI platform for video creation and editing. The round will fund the expansion of its machine learning team, research investments, and infrastructure improvements. With $100 million raised to date and a $500 million valuation, the aim is to democratize video creation and storytelling.

Hebbia
Date of Funding: July 8, 2024
Amount Raised: $130 million
Investors: Andreessen Horowitz, Index Ventures, Google Ventures, Peter Thiel
Aim of Funding: Hebbia, a New York-based AI startup, raised Series B funding to strengthen its AI-driven complex query tool for knowledge workers. The tool searches documents and answers intricate queries with flexibility and transparency. The funds will help refine the product to handle large datasets and support advanced workflows, with a valuation of $700 million.

Synerise
Date of Funding: July 7, 2024
Amount Raised: $8.5 million
Investors: VTEX (composable and complete commerce platform), business angels
Aim of Funding: Synerise raised Series B+ funding to expand into new markets and strengthen its strategic partnership with VTEX. The funding supports AI-driven solutions for retail, banking, and eCommerce, enabling personalized customer experiences, trend forecasting, and operational optimization while expanding global reach.

Sanctuary AI
Date of Funding: July 3, 2024
Amount Raised: Total investment surpasses $140 million
Investors: BDC Capital, InBC Fund (British Columbia)
Aim of Funding: Sanctuary AI, a Canadian startup focused on humanlike intelligence in general-purpose robots, secured additional funding to advance intelligent, embodied systems. The company aims to address national productivity challenges by enabling robots capable of handling diverse tasks with human-like understanding, positioning Canada as a leader in AI-integrated robotics.

June 2024

Dust AI
Date of Funding: June 27, 2024
Amount Raised: $16 million
Investors: Sequoia Capital
Aim of Funding: Dust AI raised funds to expand its platform for deploying AI assistants in internal business use cases, growing the team, and accelerating product development. Dust’s AI assistants help with tasks such as drafting job descriptions, reviewing cover letters, and generating SQL queries, expanding the practical utility of AI within corporate environments.

Norm AI
Date of Funding: June 25, 2024
Amount Raised: $27 million
Investors: Coatue (led the funding round)
Aim of Funding: Norm AI raised capital to expand its AI-powered regulatory compliance platform. The round supports growth in client base and platform development, transforming how compliance analyses are automated by converting regulations into code and enabling scalable workflows across industries.

Verituity
Date of Funding: June 21, 2024
Amount Raised: $18.8 million
Investors: Sandbox Industries, Forgepoint Capital (led)
Aim of Funding: Verituity’s funding will advance its AI-powered B2B and B2C verified payout platform. The investment expands ML/AI capabilities and accelerates growth in banking, insurance, and new markets such as mortgage servicing and energy. The Mastercard partnership aims to eliminate checks, optimize payouts, and enable real-time payments.

Kfund
Date of Funding: June 17, 2024
Amount Raised: $75 million
Investors: Kfund (venture capital firm)
Aim of Funding: Kfund raised funds for its K3 fund to back European tech startups focused on foundational technologies like AI, data, and platform layers. The fund will invest in southern European B2B ventures from pre-seed to Series B, aiming to back companies that establish the groundwork for long-term growth.

Constructor
Date of Funding: June 17, 2024
Amount Raised: $25 million
Investors: Sapphire Ventures (led)
Aim of Funding: Constructor secured Series B funding to enhance its AI-powered product discovery platform for eCommerce. The investment will support product development, international expansion, and the continued evolution of its AI Shopping Assistant. The platform has already powered over 100 billion customer interactions and grew its customer base by 50%.

Aim Security
Date of Funding: June 17, 2024
Amount Raised: $18 million; Total Funding $28 million
Investors: Not disclosed
Aim of Funding: Aim Security raised capital to secure AI applications in businesses, addressing risks like data exposure, supply chain vulnerabilities, and emerging threats. It focuses on enabling enterprises to adopt AI securely, particularly in regulated sectors such as banking, healthcare, and defense.

Zeta Labs
Date of Funding: June 17, 2024
Amount Raised: $2.9 million (pre-seed)
Aim of Funding: Zeta Labs raised funds to develop JACE, an AI agent capable of performing complex tasks and interacting with the digital world. JACE serves as a bridge between traditional chatbots and autonomous systems, handling tasks such as booking trips, paying invoices, and navigating digital tools, thereby boosting office productivity.

Canary Technologies
Date of Funding: June 14, 2024
Amount Raised: $50 million (Series C)
Aim of Funding: Canary Technologies raised capital to deploy AI solutions in the hospitality industry via its Guest Management Platform. The platform digitizes hotel operations from post-booking to checkout, elevating guest experience and operational efficiency. The investment supports team expansion, AI capability acceleration, and broader technology adoption across the sector.

Light
Date of Funding: June 12, 2024
Amount Raised: $13 million
Aim of Funding: Light raised funds to scale its AI-powered general ledger platform for multinational companies. The platform integrates accounting, tax, payments, and reporting across countries and currencies, offering automated data cleaning and accurate ledger entries. The funding aims to address complex reporting and governance challenges while accelerating growth and market expansion.

Mistral AI
Date of Funding: June 12, 2024
Amount Raised: $640 million (Series B); Valuation: $6 billion
Investors: Led by General Catalyst, with continued support from existing investors
Aim of Funding: Mistral AI secured a massive round to accelerate its global expansion and AI development, establishing itself as a major player in the AI industry and challenging Silicon Valley’s dominance. The funds support the company’s roadmap to bring frontier AI technologies to a broader audience, expanding capabilities and reach.

Seven AI
Date of Funding: June 7, 2024
Amount Raised: $36 million (initial funding round); Valuation: Over $100 million (as of September 2023, during pre-seed)
Investors: Led by Greylock
Aim of Funding: Seven AI raised capital to advance its AI-powered cybersecurity solutions. The round will enable the company to scale its autonomous software that hunts for cyber threats, investigates incidents, and takes autonomous actions to secure systems, enhancing defense against AI-driven cyber threats.

Touchcast
Date of Funding: June 4, 2024
Amount Raised: $100 million (funding round); Valuation: $350 million (post-funding)
Investors: Backed by Microsoft and other investors
Aim of Funding: Touchcast raised a substantial sum to improve its cognitive cache content delivery technology, aiming to reduce energy and computational resource use in AI models. The funds will boost the performance and efficiency of AI queries, addressing growing demand for AI resources across industries.

May 2024

Faircado
Date of Funding: May 28, 2024
Amount Raised: $3.3 million (€3 million)
Valuation: Not disclosed
Investors: Led by World Fund
Aim of Funding: Faircado expanded its AI-powered e-commerce platform to simplify buying secondhand goods. The funding supports the expansion of its browser extension, which compares products across 50 million listings to help users find preowned or refurbished items, promoting sustainable shopping.

Rows
Date of Funding: May 27, 2024
Amount Raised: $8.7 million (€8 million)
Valuation: Not disclosed
Investors: Led by Indico Capital Partners
Aim of Funding: Rows raised capital to enhance its AI-powered spreadsheet app, focusing on faster data integrations, stronger AI features, and broader market presence, including the U.S., U.K., and Europe. The platform blends powerful analytics, collaboration, and native integrations to transform data workflows for business and marketing professionals.

DeepL
Date of Funding: May 22, 2024
Amount Raised: $300 million (latest funding round); Valuation $2 billion
Investors: Led by Index Ventures
Aim of Funding: DeepL raised funds to expand its AI-powered translation and writing platform. The round supports advanced AI capabilities like DeepL Write Pro for business writing and adding new languages, bringing the total to 32. The company plans to broaden globally, with a strong emphasis on the U.S. market as it opened its first office in January. With over 100,000 business customers across 63 markets, DeepL seeks to preserve leadership in translation quality, precision, and security while facilitating global business communications.

Nory
Date of Funding: May 22, 2024
Amount Raised: $16 million (Series A)
Valuation: Not disclosed
Investors: Led by Accel
Aim of Funding: Nory raised capital to enhance its AI-powered “restaurant manager” platform, which delivers data-driven insights to optimize staffing, predict demand, and manage inventory for hospitality firms. The funds will accelerate product development and enable global expansion, extending Nory’s reach beyond Europe and North America. The platform aims to centralize restaurant operations through an AI operating system offering real-time insights and rapid ROI under operating pressure.

H (formerly Holistic AI)
Date of Funding: May 21, 2024
Amount Raised: $220 million
Valuation: Not disclosed
Investors: Amazon and Samsung
Aim of Funding: The French startup H raised significant capital to pursue AGI capable of matching or surpassing human cognition. Led by former Google DeepMind veterans, H aims to integrate breakthroughs in language processing, image recognition, and strategic decision-making. The funds will bankroll research amid global AI competition.

Scale AI
Date of Funding: May 21, 2024
Amount Raised: $1 billion (Series F); Valuation $13.8 billion
Investors: Not disclosed
Aim of Funding: Scale AI raised a sizable round to develop its “data foundry,” a framework for AI-ready data abundance supporting AGI. Partnerships include OpenAI, Meta, and the U.S. Department of Defense. The company emphasizes responsible AI development while expanding data infrastructure to fuel AI initiatives across industries.

Sift Healthcare
Date of Funding: May 9, 2024
Amount Raised: $20 million (Series B)
Valuation: Not disclosed
Investors: Led by B Capital
Aim of Funding: Sift Healthcare raised funds to expand its AI-powered Payments Intelligence Platform, integrating clinical and payment data to optimize financial outcomes. The financing will enhance AI capabilities, scale the platform, and improve revenue cycle management, driving progress in healthcare financial operations and patient engagement.

Holistic
Date of Funding: May 7, 2024
Amount Raised: $200 million (First tranche of initial funding)
Valuation: $370 million
Investors: Not disclosed
Aim of Funding: Holistic raised a substantial tranche to develop “multi-agent” AI models in which multiple AI systems collaborate on memory, planning, and complex problem-solving. The funds will elevate computing power and AI model training, addressing current AI limitations and unlocking transformative potential across various industries.

April 2024

Tabs
Date of Funding: April 11, 2024
Amount Raised: $7 million (Seed); Total Raised $12 million (including pre-seed from Primary Ventures)
Investors: Lightspeed Venture Partners, Primary Ventures
Aim of Funding: Tabs raised seed capital to scale its AI-powered accounts receivable platform, expanding automation in B2B contract ingestion, invoicing, and payments. The funding aims to reduce financial risks and save time, targeting a 40% reduction in invoice collection time and delivering insights for finance leaders.

Datavolo
Date of Funding: April 2, 2024
Amount Raised: $21 million
Investors: General Catalyst, Citi Ventures, Human Capital, Rob Bearden, MVP Ventures
Aim of Funding: Datavolo secured capital to develop scalable and secure multimodal data pipelines for AI applications. The investment will improve cloud-native managed services using Apache NiFi to generate real-time, secure data sets, enabling enterprises to propel generative AI applications and expand data-driven AI capabilities.

March 2024

Fieldguide
Date of Funding: March 26, 2024
Amount Raised: $30 million
Investors: Not disclosed
Aim of Funding: Fieldguide raised Series B funds to enhance its AI platform and address CPA shortages. The funds will support new AI capabilities, market expansion, and team growth, automating workflows for accounting firms to navigate talent constraints and boost CPA efficiency on higher-value tasks.

Iron Sheepdog
Date of Funding: March 25, 2024
Amount Raised: $10 million
Investors: SJF Ventures
Aim of Funding: Iron Sheepdog raised capital to expand its technology solution for the short-haul trucking industry. The funds will support market growth and AI integration to improve safety and efficiency, reducing brokers’ administrative burdens with GPS tracking, real-time analytics, and automated invoicing.

Nanonets
Date of Funding: March 12, 2024
Amount Raised: $29 million
Investors: Not disclosed
Aim of Funding: Nanonets raised Series B funding to boost its AI-based workflow automation platform, automating tasks in finance, accounting, and operations. The funds will reduce repetitive work such as invoice processing and broaden the platform’s reach, especially among small and medium-sized businesses.

Argyle
Date of Funding: March 5, 2024
Amount Raised: $30 million
Investors: Rockefeller Fintech Innovation Fund (lead investor)
Aim of Funding: Argyle expanded its automated income and employment verification platform. The funding will enhance adoption, improve customer experience, and support services. Argyle provides real-time direct-source data for industries like mortgages and lending, aiming for scalable, reliable verification; the investment will accelerate growth and market presence.

StackOne
Date of Funding: March 5, 2024
Amount Raised: $3.6 million
Investors: Episode 1 (lead investor)
Aim of Funding: StackOne raised seed capital to enhance its embedded integration platform-as-a-service (IPaaS) offering. It plans to invest in AI to improve its unified API solution for the SaaS sector, supporting expansion into the U.S., EU, and Australia and streamlining integration for SaaS companies.

February 2024

Coverdash
Date of Funding: February 28, 2024
Amount Raised: $13.5 million (Series A)
Investors: Nyca Partners (lead)
Aim of Funding: Coverdash raised Series A funds to expand its embedded insurance offering, grow its partner network, strengthen the team, and broaden its insurance carrier panel. Coverdash enables customizable insurer solutions for SMBs via seamless integration, providing access to products like general liability and cyber insurance.

NLX
Date of Funding: February 26, 2024
Amount Raised: $12 million (Series A)
Investors: Cercano (lead)
Aim of Funding: NLX raised Series A funds to develop its AI platform for managing chat, voice, and multimodal conversational applications. The funds will help expand market presence, attract strategic hires, and enhance platform capabilities. NLX’s platform enables global brands to create and analyze AI-driven conversational experiences at scale.

Figure AI
Date of Funding: February 23, 2024
Amount Raised: $675 million; Pre-money Valuation: $2 billion
Investors: Jeff Bezos’ Explore Investments, Microsoft, Nvidia, Amazon-affiliated fund, Intel’s venture capital arm, LG Innotek, Samsung’s investment group, Parkway Venture Capital, Align Ventures, ARK Venture Fund, Aliya Capital Partners, Tamarack, Boscolo Intervest, BOLD Capital Partners, OpenAI
Aim of Funding: Figure AI raised substantial funding to scale operations and advance humanoid robotics technology. Its flagship project, Figure 01, targets labor shortages by performing hazardous, repetitive tasks across manufacturing, logistics, and retail. The new funds will support continued development and testing.

Marqo
Date of Funding: February 13, 2024
Amount Raised: $12.5 million
Investors: Lightspeed (lead)
Aim of Funding: Marqo raised funds to advance its vector search platform for generative AI applications. The platform improves search, retrieval-augmented generation, and business applications by delivering real-time, highly relevant results. The funds will enhance accessibility, API, and enterprise-grade solutions for on-prem and cloud use.

Attentive.ai
Date of Funding: February 7, 2024
Amount Raised: $7 million
Investors: Vertex Ventures Southeast Asia and India (lead)
Aim of Funding: Attentive.ai raised Series A funding to expand its AI-powered business management platform for construction and landscaping sectors. The platform automates workflows like site measurements and scheduling using computer vision and generative AI, saving contractors time, with funds to scale services to more firms.

January 2024

Kore.ai
Date of Funding: January 30, 2024
Amount Raised: $150 million
Investors: FTV Capital (lead), Nvidia
Aim of Funding: Kore.ai enhanced its conversational and generative AI platform with this round, supporting expansion and the development of virtual assistants across IT, HR, and other sectors including banking, healthcare, and retail. The company emphasizes safety and flexibility to drive revenue growth and client cost savings.

Sema4.ai
Date of Funding: January 29, 2024
Amount Raised: $30.5 million
Investors: Not specified
Aim of Funding: Sema4.ai raised funds to advance its mission of bringing open-source AI to enterprise work, redefining knowledge work by developing intelligent agents for better collaboration between knowledge workers and AI. The goal is to address AI’s limitations in supporting complex workflows by enabling AI to manage ambiguity, adapt to changing contexts, and take meaningful actions.

xAI
Date of Funding: January 26, 2024
Amount to be Raised: $6 billion
Valuation: Proposed at $20 billion
Investors: Targeted family offices in Hong Kong, sovereign wealth funds in the Middle East, and investors in Japan and South Korea
Aim of Funding: Elon Musk’s xAI seeks to compete with OpenAI in the generative AI arena. The funds will support development of human-like text, image, and code models. Its first product, Grok, launched in November 2023 and leverages real-time X platform data. The aim is a substantial valuation and global presence.

ElevenLabs
Date of Funding: January 22, 2024
Amount Raised: $80 million
Valuation: $1.1 billion (Unicorn status)
Investors: Not specified
Aim of Funding: ElevenLabs raised Series B funding to develop new products and enhance safety measures for responsible AI. It launched a dubbing studio and a voice library marketplace, enabling creators to monetize AI-generated voice replicas, while focusing on ethical AI development and tools to detect AI-generated content.

Detected
Date of Funding: January 15, 2024
Amount Raised: €2.2 million ($2.4 million)
Valuation: Not specified
Investors: Thomson Reuters Ventures, Love Ventures, and industry angels
Aim of Funding: Detected raised funds to advance its business onboarding intelligence solution, aiming to streamline onboarding processes for businesses, customers, and merchants. The company targets a $12 billion annual market, with expansion including the U.S. as it opened a new office.

Robin AI
Date of Funding: January 3, 2024
Amount Raised: $26 million
Valuation: Not specified
Investors: Temasek, Quantum Light, Plural Platform, AFG Partners
Aim of Funding: Robin AI raised capital to accelerate its AI-powered contract analysis tools for the legal sector, combining Anthropic’s LLM with proprietary data and machine learning to interpret contracts. The round paves the way for global expansion and growth, following a prior $10.5 million Series A in 2023.

Conclusion
AI funding surged across various sectors, from voice technology to quantum-powered AI, setting the stage for transformative change. Substantial investments are driving innovations in automation, efficiency, and personalization. Companies focus on enhancing AI models, scaling operations, exploring global markets, and reshaping finance, healthcare, and logistics industries. As AI continues to evolve, 2025 promises further breakthroughs, with the potential to revolutionize business operations and societal functions on a global scale.