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
Mainspring Energy Inc, a Menlo Park-based startup, has raised $258 million to advance its linear generators for data centers. The funding was led by General Catalyst, with
Khosla Ventures and
Amazon's Climate Pledge Fund participating.
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Zhipu AI Begins IPO Process in China
Chinese AI startup
Zhipu AI has initiated steps for an IPO, potentially becoming the first AI company in China to go public. The company, a spinoff from Tsinghua University, is known for its GLM language models and has received state-backed funding.
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Assort Health Raises $26M for AI Platform
Assort Health has secured $26 million in funding to enhance its AI platform for managing patient phone calls, aiming to improve healthcare access by reducing hold times and scheduling errors.
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Ola's AI Unit Krutrim Reduces Fundraising Target
Krutrim, the AI division of
Ola, has decreased its fundraising goal from $500 million to $300 million due to low investor interest. The company is in talks with global venture capital firms and is managed by
Goldman Sachs,
JP Morgan, and
SBI Capital Markets.
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Goodfire Secures $50M Series A for AI Interpretability
Goodfire has raised $50 million in Series A funding led by
Menlo Ventures to enhance its AI interpretability platform, Ember, and advance research in making AI models more understandable.
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Exaforce Secures $75 Million for AI Cybersecurity Automation
Silicon Valley startup
Exaforce has raised $75 million in Series A funding to advance its AI-driven platform for automating cybersecurity tasks.
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hellocare.ai Secures $47 Million for AI Virtual Care
hellocare.ai has raised $47 million to enhance its AI-assisted virtual care platform and develop smart hospital rooms, with funding led by
HealthQuest Capital.
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Virtue AI Secures $30 Million for AI Security
Virtue AI has raised $30 million in Seed and Series A funding to enhance AI security, with backing from
Lightspeed Venture Partners and
Walden Catalyst Ventures. The funds will be used to improve security in enterprise AI deployments.
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Adobe Invests in Synthesia as Startup Hits $100M Revenue
UK-based AI video startup
Synthesia has received investment from
Adobe after reaching $100 million in annual revenue, highlighting
Adobe's interest in AI video tools.
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OpenAI Introduces $1 Million Fund for Codex Projects
OpenAI has launched a $1 million fund to support open source projects using Codex CLI and
OpenAI models. Grants will be given in $25,000 increments in API credits, with applications reviewed continuously.
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