Zhipu AI's IPO Journey, Mainspring's $258M Boost, and OpenAI's $3B Acquisition Talks - AI Funding Brief #10

Hi there,

In this edition of the AI Funding Brief, we're diving into some significant developments in the AI business landscape. Zhipu AI, a Chinese AI startup, has begun the process of going public, potentially marking a milestone as the first AI company in China to do so. Meanwhile, Mainspring Energy Inc has secured a substantial $258 million to further its innovative linear generators aimed at powering data centers, with backing from major investors like Khosla Ventures and Amazon's Climate Pledge Fund.

Additionally, Assort Health has raised $26 million to enhance its AI platform designed to streamline patient phone call management, while Krutrim, the AI arm of Ola, has adjusted its fundraising target amidst shifting investor interest. Other notable funding news includes Goodfire's $50 million Series A round to advance AI interpretability and Exaforce's $75 million to bolster AI-driven cybersecurity automation. These stories highlight the dynamic and rapidly evolving nature of AI investments and innovations.

Mainspring Energy Secures $258 Million for Data Center Power

Zhipu AI Begins IPO Process in China

Assort Health Raises $26M for AI Platform

Ola's AI Unit Krutrim Reduces Fundraising Target

Goodfire Secures $50M Series A for AI Interpretability

Exaforce Secures $75 Million for AI Cybersecurity Automation

hellocare.ai Secures $47 Million for AI Virtual Care

Virtue AI Secures $30 Million for AI Security

Adobe Invests in Synthesia as Startup Hits $100M Revenue

OpenAI Introduces $1 Million Fund for Codex Projects

Infosys has acquired The Missing Link, an Australian cybersecurity firm, to enhance its cybersecurity capabilities. RadNet completed the acquisition of iCAD for €91 million to boost AI in breast imaging. Saronic acquired Gulf Craft to advance autonomous shipbuilding. Torq acquired Revrod to improve cybersecurity with RAG technology. Infinite Reality acquired Napster for $207 million to transform it into a social music platform. OpenAI is negotiating a $3 billion acquisition of Windsurf. Futureverse acquired Candy Digital to integrate AI and metaverse technology. Pipe acquired Glean.ai to enhance finance tools. BGM Group acquired Wonder Dragon Global to enhance its healthcare strategy. DateSpot acquired ValleyMatch for AI matchmaking. Tredence acquired Further Advisory to enhance financial services consulting. Spectral Capital acquired a stake in an autonomous driving AI firm. Improving acquired InfraCloud to boost Asian development. Voiant acquired Voxeleron for AI ophthalmic research.

Hammer Missions has raised €1.6 million to expand its AI-driven drone inspection services into North America. Flock Mobility secured £1M to enhance its AI platform for shared electric vehicles. Dublin-based Assiduous raised €1M for its AI finance tool, while Blue Onion secured $10 million to improve financial data infrastructure. Finch launched an AI platform for personal injury firms, and Deck raised $12M to advance AI-driven data access. Kenzo Security raised $4.5 million for its AI security platform, and ViTai Robotics secured $13.8M from Xiaomi for robot development. Corvic AI raised $12 million for AI infrastructure, and IUNU secured $20 million for AI greenhouse tech. QWERKY AI raised $2 million for its AI platform, and Friday Harbor secured $6 million for its AI lending platform. Collide raised $5 million for AI in the energy sector, and Well secured $30 million for its AI health system. Scout AI Inc. raised $15M and launched a defense model, while Phantom Neuro secured $19M for neural interface tech. Chapter raised $75 million, reaching a $1.5 billion valuation. Mindset AI raised £4.3m for US expansion, and Telli secured $3.6 million for AI voice agents.