Hello everyone! 🙋We have the following updates for you today! 📣
- Investors are pouring money into AI startups
- Celestial AI raises $100M to transfer data using light-based interconnects
- Heard Technologies secures $15M for therapist accounting tools development
Investors Are Pouring Money Into AI Startups
It looks like the AI sector has plenty of financial resources and received massive funding despite the subdued economic conditions.
As per a report, AI Startups have raised $1.7B in Q1 2023 over 46 deals and an additional $10.68B in pending agreements.
Here are a few of the leading artificial intelligence (AI) startups that have secured substantial investment, resulting in millions of dollars in funding:
OpenAI: $11.3 billion
Inflection: $1.525 billion
Anthropic: $1.5 billion
Cohere: $445 million
Adept: $415 million
Runway: $237 million
Character.ai: $150 million
Stability AI: $100 million approx.
Other AI Startups that raised above $100M
Author Health, $115M, healthcare
Celestial AI, $100M, semiconductors
Cyera, $100M, cybersecurity
Redpanda Data, $100M, data
Typeface, $100M, artificial intelligence
Celestial AI Raises $100M to Transfer Data Using Light-Based Interconnects
Celestial uses photonics for data transmission and extends to different chip systems. It allows smooth information transfer within and between chips, using memory and computational resources for AI and other workloads.
Celestial AI has recently disclosed that it has secured $100 million in a Series B funding round, taking its total funding to over $165 million. This funding round was primarily led by IAG Capital Partners and other investors.
Celestial claims their technology reduces electricity needed for data transfer, boosting microchip efficiency.
The company claims that its photonics tech aligns with industry standards for connectivity, providing 25x more bandwidth and 10x lower latency and power usage than optical alternatives.
Heard Technologies Secured $15M to Develop Therapist Accounting Tools
Heard is specifically tailored for therapists to simplify tasks related to back-end office operations, including bookkeeping, tax management, and payroll.
The platform enables therapists to allocate more time to patient care, fully concentrating on their professional expertise and delivering optimal healthcare services, easing concerns associated with back-office responsibilities.
The company has raised $15M in new funding led by Headline with participation from GGV Capital and other investors. The new investment takes the total funding of Heard to $26.3 million to date.
For more updates, check out the Latest Tech category.
