Snorkel AI Raises $100M, North America Secures $69.7B in AI VC Funding, and xAI Corp. Gets TPG Support - AI Funding Brief #17

June 10, 2025 - AI Funding Brief
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Welcome to the latest edition of the AI Funding Brief, where we bring you the most recent updates on funding and investment activities in the AI business landscape. This edition highlights significant financial movements, including MIND securing $30 million in Series A funding to bolster its data loss prevention platform, and TPG Angelo Gordon stepping in as the main investor in a debt financing plan for Elon Musk's AI venture, xAI Corp.. These developments underscore the growing interest and investment in AI technologies aimed at enhancing data security and advancing AI initiatives.

Additionally, we cover Definely's $30 million raise to improve AI legal tools, and Scope3's $25 million funding to expand its sustainability platform within the AI sector. Notably, Snorkel AI has secured $100 million in Series D funding to enhance its AI model evaluation capabilities, while North America has attracted a staggering $69.7 billion in venture capital for AI startups. These stories reflect the dynamic and rapidly evolving nature of AI funding, with companies across various sectors seeking to leverage AI for innovation and growth.
Reserv Secures $25 Million in Series B Funding
Reserv, a tech-enabled third-party administrator, has raised $25 million in a Series B funding round led by Flourish Ventures. The funds will be used to support the company's growth and improve its claims automation models. Read more
Axiom AI Startup Raises $50 Million
Axiom, an AI startup founded by Stanford PhD student Carina Hong, has raised $50 million to develop math-solving AI for quantitative finance, with a valuation of $300 million. Read more
Moments Lab Secures €21 Million for AI Video Platform
Paris-based startup Moments Lab has raised €21 million to expand in the US and develop its MXT-2 AI platform, enhancing video indexing and understanding for media professionals. Read more
Speedata Raises $44 Million to Challenge Nvidia
Tel Aviv-based startup Speedata has secured $44 million in Series B funding to advance its analytics processing unit, aiming to enhance AI and big data analytics and compete with Nvidia. Read more
Hex Secures $70 Million in Series C Funding
On May 29, 2025, Hex announced a $70 million Series C funding round to enhance its AI-powered data science and analytics workspace, with participation from several prominent investors. Read more
Cybernetix Ventures Launches $100M Fund for Robotics and AI
Boston-based Cybernetix Ventures is launching a $100 million fund to invest in early-stage robotics and physical AI companies, focusing on sectors like manufacturing and healthcare. Read more
Voice AI Funding Surges Eightfold in 2024
Funding for voice AI startups has significantly increased, reaching $2.1 billion in 2024. This growth is attributed to technological advancements from companies like OpenAI and ElevenLabs, with businesses adopting voice AI for various tasks. Read more
Anysphere Raises $900 Million, Valued at $9.9 Billion
Anysphere, the company behind the AI coding assistant Cursor, has raised $900 million at a valuation of $9.9 billion. This funding round was led by Thrive Capital and marks the startup's third fundraising effort in under a year. Read more
Obvio Secures $22 Million for AI Traffic Safety
Obvio has raised $22 million to improve traffic safety using AI, focusing on reducing traffic-related fatalities. Read more
Crabi Secures $13.6 Million for AI-Driven Auto Insurance in Mexico
Crabi has raised $13.6 million to expand its AI-driven auto insurance platform in Mexico. The funding will help improve distribution and address the high rate of uninsured vehicles in the country. Read more
Impart Security Secures $12M for AI Security Platform
Impart Security has raised $12 million in a Series A funding round led by Madrona Ventures to launch its Application Detection and Response Engineering Platform, which aims to improve application security with autonomous workflows. Read more
WedgeHR Secures Strategic Investment Round
WedgeHR, a video interviewing platform, has closed a funding round led by HR tech operators and investors to enhance its hiring process solutions. Read more
Nectar Social Secures $10.6 Million Funding
Nectar Social has raised $10.6 million to help disruptor brands turn social media engagement into revenue, enhancing its platform and services. Read more
Meta Platforms Inc. Plans $10 Billion Investment in Scale AI
Meta Platforms Inc. is in discussions to invest nearly $10 billion in the AI startup Scale AI, known for its data labeling services for machine learning. This potential investment could become one of the largest private funding events in history. Read more
xAI Projects $13 Billion Annual Earnings by 2029
xAI, Elon Musk's AI startup, is projected to generate over $13 billion in annual earnings by 2029, according to Morgan Stanley. The company is also pursuing a $5 billion debt sale and anticipates $1 billion in gross revenue by year-end. Read more
Anduril Industries Raises $2.5 Billion, Valuation Hits $31 Billion
Defense technology company Anduril Industries has completed a $2.5 billion funding round, increasing its valuation to $31 billion. The funding was led by Peter Thiel's Founders Fund and will support mergers, acquisitions, and product development. Read more
Iron Wolf Capital Launches €100M Fund for Baltic AI Startups
Vilnius-based venture capital firm Iron Wolf Capital has initiated a €100 million fund to invest in deep tech and AI startups in the Baltic region, targeting 25 early-stage companies. Read more
AUAR Secures £5.1 Million for AI and Robotics in Housing
UK startup AUAR has raised £5.1 million to advance its platform that uses automation and robotics to lower homebuilding costs and speed up production. Read more
You.com Seeks Funding for AI Enterprise Search Expansion
AI startup You.com is in talks to raise funds at a $1.4 billion valuation, aiming to focus on AI-powered enterprise search and productivity tools after a shift from general-purpose AI search. Read more
Beewise Secures $50 Million for AI-Powered BeeHome
Beewise, Inc. has raised $50 million in Series D financing to boost innovation and expand its AI-powered BeeHome™, which aims to combat the decline in bee populations. Read more
Runwise Secures $55M in Series B Funding
Runwise, a smart operating system for buildings, has raised $55 million in a Series B funding round led by Menlo Ventures. The funding will be used for product innovation, team expansion, and market growth. Read more
Mistral AI Plans $1 Billion Fundraise to Compete with Major AI Firms
Mistral AI, a European AI startup, is planning a $1 billion fundraising round in 2025 to compete with major players like OpenAI, Anthropic, and Google. Read more
IFC to Invest $10 Million in Senegal's KERA Health
The International Finance Corporation plans a $10 million investment in KERA Health, an AI e-health platform in Senegal, to improve healthcare delivery in the WAEMU region. Read more
Swedish Startup Lovable Seeks $1.5 Billion Valuation
Lovable, a Swedish AI startup, is in talks with US investors to raise at least $100 million, aiming for a valuation of $1.5 billion or more. Read more
Pactum Raises $54 Million to Expand AI in Procurement
Pactum has secured $54 million in Series C funding led by Insight Partners to enhance its AI solutions for enterprise procurement. The investment follows a year of significant growth for the company. Read more
Vantage Data Centers Raises €720 Million in Euro ABS Deal
Vantage Data Centers has raised €720 million through a bond deal backed by European data center assets, marking a first in the region's tech infrastructure market. The funds will be used to pay down construction loans for facilities in Berlin and Frankfurt. Read more
FISPAN Secures $30 Million Series B Funding
FISPAN has raised $30 million in Series B funding led by Canapi Ventures to enhance its embedded banking solutions for mid-market businesses. The funds will be used for product development, market expansion, and talent acquisition. Read more
MIND Secures $30M for AI Data Loss Prevention
MIND has raised $30 million in Series A funding to enhance its autonomous data loss prevention platform. The investment will aid in protecting sensitive data for Fortune 1000 companies. Read more
Definely Raises $30M to Boost AI Legal Tools
London-based legal tech startup Definely has secured $30 million in funding to enhance legal workflows using AI tools integrated with Microsoft Word. Read more
North America Attracts $69.7 Billion in AI VC Funding
Between February and May 2025, North America secured $69.7 billion in venture capital for AI startups, surpassing Europe and Asia, despite political challenges. Read more
TPG Supports xAI Corp. with Debt Financing
TPG Angelo Gordon has become the main investor in a debt financing plan for Elon Musk's AI startup, xAI Corp. This financing will help xAI advance its artificial intelligence initiatives. Read more
Scope3 Secures $25 Million for Sustainable AI Expansion
Scope3 has raised $25 million to expand its sustainability platform into the AI sector, aiming to address the environmental impact of AI technologies. Read more
Snorkel AI Raises $100 Million in Series D Funding
Snorkel AI has secured $100 million in a Series D funding round to enhance its AI model evaluation capabilities. The funding will support the expansion of its AI Data Development Platform and market efforts. Read more

Mergers & Acquisitions

Solvd Inc. acquired Tooploox to enhance AI development, while John Snow Labs integrated WiseCube for medical AI. Mediafly acquired Appinium to boost AI revenue tools, and Collibra acquired Raito for data governance. Fullcast and Genpact made strategic acquisitions to enhance their platforms, and Pinewood.AI expanded its stake in a joint venture. Redwing and AMD made acquisitions to enhance their AI capabilities, while HealthKey and Lenskart pursued strategic acquisitions in healthcare and geospatial data. Juvenescence and Qualcomm made significant acquisitions to boost AI in drug discovery and data center technologies. F5 and One Point One Solutions enhanced their AI platforms through acquisitions, and U.S. News & World Report acquired Sups for college admissions.

IPO's & Market Moves

Caris Life Sciences has launched its IPO roadshow, offering shares priced between $16.00 and $18.00, aiming to list on Nasdaq under 'CAI'. Tailscale plans a future IPO as its revenue hits $1.5 billion, driven by AI sector growth.

Other Funding News

Trillium Health Partners has initiated a $25 million fundraising campaign to support its AI for Better Health program, aimed at enhancing healthcare delivery and patient experiences.

Startup Funding

Matterworks Inc. has raised Series A funding to enhance machine intelligence in predictive biology. Inventure VC invested $5 million in Samphire Neuroscience for a device to alleviate menstrual symptoms. pWin.ai secured $10 million for AI-driven proposal writing. Octave raised $5.5 million to enhance its AI marketing platform. Burstverse AI Limited closed seed funding for a decentralized finance platform. NAVER plans to launch NAVER Ventures in Silicon Valley. Toma raised $17 million to improve auto dealership communication. Manex AI secured €8 million for AI quality management software. Fawn Friends raised $2.6 million for a social robot. Voltrac raised €2 million for an autonomous tractor platform. Sema4.ai secured $25 million to enhance its technology. Baobab Insurance raised €12 million to combat AI cyberattacks. Jua secured €10 million for AI Earth simulation. Aeon raised €8.2 million for its AI health platform. Lendurai secured €5.5M for UAV tech. Kosmc AI raised $200K in pre-seed funding. Latent Technology raised €7 million for AI animation. AbleCredit seeks $5 million in Series A funding. Altura raised €8 million for AI bid management. AI Pro University completed Series A funding for AI tools. Hirundo raised $8 million for machine unlearning. iGan Partners led Seed+ financing for Cosm Medical.

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