In 2024, U.S.-based AI startups are experiencing unprecedented investment, setting new benchmarks in technological innovation. Here’s an overview of the standout companies securing $100 million or more in funding this year informed by Atom News
July
Hebbia – Secured $130 million in funding from Andreessen Horowitz, Peter Thiel, Index Ventures, and Google Ventures. Hebbia specializes in generative AI for document search and is valued at $700 million.
Skild AI – Based in Pittsburgh, Skild AI raised $300 million in a Series A round, with investments from Lightspeed Venture Partners, Coatue, Bezos Expeditions, and others. They focus on robotics powered by AI, achieving a valuation of $1.5 billion.
June
Bright Machines – Recently closed a $106 million Series C round led by BlackRock, with participation from Nvidia, Microsoft, and Eclipse Ventures. Bright Machines combines smart robotics with AI-driven software, accumulating over $437 million in total funding.
Etched.ai – Raised $120 million in a Series A round. Located in San Francisco, Etched.ai pioneers AI chips for accelerated computing, supported by Primary Venture Partners, Positive Sum, and others.
EvolutionaryScale – New York-based EvolutionaryScale secured $142 million in seed funding for their biological AI models designed for therapeutic applications. Investors include Lux Capital, Nat Friedman, and Daniel Gross.
AKASA – Based in San Francisco, AKASA raised $120 million for their healthcare revenue cycle automation platform, backed by Andreessen Horowitz, Costanoa Ventures, and Bond, with total funding reaching $205 million.
June (Continued)
AlphaSense – Notably raised $650 million in a Series F round. AlphaSense, headquartered in New York, offers a market intelligence platform and has attracted investments from Viking Global Investors, BDT & MSD Partners, and others, totaling over $1.4 billion.
May
xAI – Founded by Elon Musk, xAI raised an astonishing $6 billion in a Series B round, focusing on an AI platform for scientific discovery. Key investors include Sequoia, Valor Equity Partners, and Fidelity, with a valuation of $24 billion.
Scale AI – Raised $1 billion in funding, Scale AI provides data-labeling services crucial for training AI models. Investors include Accel, Tiger Global, Spark Capital, and Amazon, with total funding exceeding $1.6 billion.
Suno – Cambridge-based Suno secured $125 million for their AI-music creation platform, supported by Founder Collective, Lightspeed Venture Partners, and Matrix, with a valuation of $500 million.
Weka – Based in Silicon Valley, Weka raised $140 million in a Series E round for their AI-native data platform, with investments from Valor Equity Partners, Qualcomm Ventures, Nvidia, and Hitachi Ventures, achieving a valuation of $1.6 billion.
Final Thoughts
These American AI startups are leading the way in revolutionary technical developments. They are still pushing innovation in a number of industries thanks to significant finance and encouragement from eminent investors. These businesses are positioned to influence the direction of AI technology as they grow in strength and market share, presenting attractive prospects for stakeholders and investors alike in 2024 and beyond.
