How Citi Ventures Backs AI Startups It Thinks Can Transform Its Business

Forbes 2024 AI 50 List Top Artificial Intelligence Startups

With Berri, you can connect your data and build apps that deliver powerful insights to your users without the need for complex coding or data science skills. Berri can be a powerful solution for businesses looking to leverage ChatGPT in their B2B SaaS applications. ZestFinance offers an AI-driven lending solution that empowers lenders with transparency and ease.

Companies managed to raise $20.7 billion, representing a 600 percent increase year-over-year. Investments, which already reached $20.2 billion as of October, are already nearly on par with last year’s total, according to Writerbuddy’s report. Ensure that the startup’s solutions align with your organization’s strategic goals and business objectives.

Scale AI

The nascent startup, with a 13-person, mostly female team, is valued at $250 million. Despite the opportunity, there are regulatory hurdles for the wider Southeast Asian market. Su points out that the region’s fragmented economic landscape and varying levels of digital maturity create challenges. Markets such as Singapore and Malaysia, for instance, balance both Western and Chinese technology influences, making them competitive battlegrounds for hyperscalers. Lauchengco says the results were akin to a “litmus test” to uncover the more sophisticated startup propositions.

The startup last raised $800K in seed funding from Kalaari Capital in June 2022. The startup’s proprietary AI platform helps its clients in understanding market trends and behaviour of their target customers, thereby optimising campaign performance. The platform then connects brands with creators who can craft videos that resonate with their target audience. The startup’s proprietary platform helps users automate processes, generate human-level summaries and derive insights and actionable pointers from a real-time video. It also nudges the sales person about what to say and when during the video call itself.

Founded in 2009 by former Google CIO Douglas Merrill, ZestFinance has grown to become one of the fastest-growing financial technology startups in the US. The ZAML platform processes vast amounts of data to identify good borrowers, leading to higher repayment rates for lenders and lower-cost credit for consumers. Industry-specific and extensively researched technical data (partially from exclusive partnerships). It is highly recommended reading to fully understand some of the concepts that follow.

Generative AI: The Case For Partnering With Startups

After a frenetic first couple of weeks as far as big rounds go, this week was quieter than a library. Investing in AI startups is an exciting opportunity to be part of the next wave of technological innovation. Unlike traditional shopping search engines, Onton prioritizes integrity and transparency, creating a shopping environment designed to help users rather than push unwanted products.

Catering largely to ecommerce sellers, Blend is backed by names such as 3one4 Capital, Blume Ventures, PointOne Capital, among others. Founded in 2018 by Deepti Prasad and Sanjay Kumar, Spyne is helping businesses and marketplaces create and upgrade high-quality product images and videos at scale with AI. Although no Massachusetts companies have scored rounds of $1 billion or more this year, there have been at least 30 valued at $100 million or higher.

The company’s tools are widely used by developers and researchers worldwide, making Hugging Face a leader in the open-source AI community and an excellent option for investors looking for a startup with a strong focus on innovation. In August, Guidewheel revealed that it raised $31 million in a Series B round of funding. BlackRock and Temasek’s Decarbonization Partners fund led the round, with participation by Rethink Impact, GSBackers, Greycroft and Breakthrough Energy Ventures (BEV). In August, the Palo Alto, Calif.-based vendor revealed that it landed a $100.8 million Series A round of funding, bringing DevRev’s valuation to $1.15 billion.

Again, there’s time to catch up, but the odds of doing so are relatively slim at this point in the year. While the Boston startup scene is famous for biotech and deeptech talent, the city has lagged other hubs in creation of ultra-high-valuation AI unicorns. A Forrester report predicts 60% of generative AI skeptics will embrace the tech — knowingly or not — for tasks from summarization to creative problem solving. That’s quite a bit rosier than Gartner’s prediction earlier in the year that 30% of generative AI projects will be abandoned after proof-of-concept by 2026. But many investors are, judging by the latest figures from funding tracker PitchBook.

Mendo, a startup specializing in employee training on the use of software and generative AI tools, announced its second fundraising round of €3.5 million. Following a first round of €700,000 in November 2023, this new capital injection will enable Mendo to expand its solutions to more companies and tools, while initiating its international expansion, particularly in the United Kingdom. This Yahoo spinout uses AI to help companies store and search data instantly. This startup helps Fortune 500 companies build computer vision AI models.

Bengaluru-based startup CoRover.ai already has over a billion users of its LLM-based conversational AI platform, which includes text, audio and video-based agents. India is becoming a key producer of AI for virtually every industry — powered by thousands of startups that are serving the country’s multilingual, multicultural population and scaling out to global users. The speed with which you go to market can make or break your position in the market. Traditionally, product development follows a specific series of steps before pushing a feature or product out to the market. Gen AI can plug in at various stages of this process, from ideation to prototyping, and accelerate them, allowing startups to evolve and scale faster.

Top Benefits of Software Development Consulting Services

This startup, founded by ex-Google and Palantir staffers, uses AI to generate realistic voiceovers. The Fund has contracted with CoreWeave, the AI Hyperscaler, to provide portfolio companies with exclusive access to a dedicated cluster of GPUs and fully reserved high-performance computers. In addition, portfolio companies will have access to technical expertise and premium support.

According to research by Phocuswright, generative AI is making significant strides in the travel startup industry. For example, it can create highly customized travel itineraries or suggest suitable accommodations tailored to customers’ needs and tastes. This level of personalization can significantly improve customer satisfaction and loyalty, thereby driving business growth.Moreover, generative AI can also streamline various operational processes within startups.

Accelerating the next wave of generative AI startups – AWS Blog

Accelerating the next wave of generative AI startups.

Posted: Thu, 13 Jun 2024 07:00:00 GMT [source]

XAI has emerged as a prominent player in the generative AI space since open-sourcing its Grok chatbot, as many see this as a key step towards democratizing generative AI technology. He said an early game of his, coded using Applesoft BASIC, was a text-based adventure game in which players would get lost in a forest and navigate through a maze, answering a series of fork-in-the-road puzzles to chase down the treasure. Sign up today to receive our FREE report on AI cyber crime & security – newly updated for 2024. In face of this, many investors believe generative AI will become integral to industries such as business analytics, creative services, and automation. It comes as no surprise that OpenAI is expected to finish out 2024 as the most well-funded A.I.

And if a tool can help innovators get there faster, perhaps resources invested in a so-called “LLM wrapper” might be money well spent. These tools can offer simplified application programming interfaces (APIs)and intuitive interfaces. This makes it simpler for developers to incorporate LLM functions into existing applications without having to manage complex setups, such as handling API calls, managing tokens or configuring settings. Discover expertly curated insights and news on AI, cloud and more in the weekly Think Newsletter. Bearing a resemblance to Google’s Street View Trekker, the system can capture its surroundings in “3.5K resolution” and 360 degrees, with “physics-accurate” depth information metadata attached. A startup is training an AI system that it claims will enable creators to generate cinematic worlds, with complete control over the scenery, characters, lighting, and motion.

Salesforce Ventures (CRM), Citi Ventures (C), and IBM Ventures (IBM) were also among the participants in the round. OpenAI made its ChatGPT desktop app for Windows available to all users this week, including those using the app for free. Windows 10 and 11 users can ask the ChatGPT app questions, use it to search the web, share screenshots, and upload multiple files and photos. ChatGPT’s Advanced Voice feature is also accessible for users to talk in real-time with the AI chatbot. Generative AI startup BrainLogic AI, another recent alumni, significantly increased their speed and progress, doubling from 1 to 2 Million users during the program. “Google Mentors shared their expertise generously and were crucial in enabling us to achieve six months of progress in only 10 weeks,” says Chief Technology Officer Nicolas Loeff.

World Habitat Awards for Innovative solutions to…

In May 2024, the martech SaaS startup raised $3.5 Mn in a seed funding round led by Venture Highway, with participation from The Neon Fund, Matrix Partners-anchored DeVC and others. Incubated by Y Combinator, the startup raised $1.5 Mn in seed funding in August last year. The US-based GenAI startup also counts names such as Sense AI, Gaingels, Entrepreneur First and ThinKuvate as investors. The Bengaluru-based startup has raised $4 Mn in funding till date and counts the likes of names such as Samsung Ventures and angels such as Lakshmi Narayan, and BVR Mohan Reddy as its investors. Evaluate the startup’s ability to integrate seamlessly with your existing enterprise architecture.

• Su also points to a growing sense of caution in China’s AI sector, describing it as a “bubble in the making”.
• Karya is employing over 30,000 low-income women participants across six language groups in India to help create the dataset, which will support the creation of diverse AI applications across agriculture, healthcare and banking.
• For Ammirati, the most exciting opportunity right now is not necessarily the foundation models themselves, but applications being built on top of LLMs.
• Investors looking to capitalize on the trend of businesses adopting AI to enhance operations should consider DataRobot as a compelling startup for long-term growth.
• The startup’s state-of-the-art family of large language models (LLMs), Palmyra, power its suite of AI solutions for enterprises.
• As Generative AI moves from pilot to production, the true differentiator for leading organizations will be their ability to integrate innovation seamlessly into their ecosystems.

Riding on the AI wave, the startup now boasts close to 1 Mn registered users worldwide, majority of them outside India. Founded in 2020 by Arvind Nair and Amritendu Mukherjee, NeuroPixel.AI is a GenAI platform that allows online marketplaces to offer AI-enabled fashion cataloguing, synthetic model generation, and virtual try-ons. Orbo leverages AI and augmented reality (AR) to help consumers virtually try-on products in real-time without stepping foot outside their homes.

Valued at a staggering $157 billion, the Sam Altman-helmed company’s lead is miles ahead of the second largest A.I company, Databricks, valued at $43 billion and led by Ali Ghodsi. Reinvent critical workflows and operations by adding AI to maximize experiences, real-time decision-making and business value. Ammirati co-founded an early-stage startup that aims to be one such tool for entrepreneurs and other innovators.

Driven by cutting-edge research, Cohere empowers developers and enterprises to build innovative products that leverage language AI for real-world business applications. The growth stage startup has raised a total funding of $1.8 Mn since its inception. Machine learning chips that use analog circuits instead of digital ones have long promised huge energy savings. But in practice they’ve mostly delivered modest savings, and only for modest-sized neural networks. Silicon Valley startup Sagence says it has the technology to bring the promised power savings to tasks suited for massive generative AI models. The startup claims that its systems will be able to run the large language model Llama 2-70B at one-tenth the power of an Nvidia H100 GPU-based system, at one-twentieth the cost and in one-twentieth the space.

The company’s innovative approach enables them to tackle drug discovery projects from the earliest stages by using algorithms developed through 12 years of research at prestigious institutions like Oxford, Cambridge, and ENS/CNRS. Hugging Face is an established organization in the AI community, known for releasing tools for creating machine learning applications. Their most notable offering is the transformers library, which is designed specifically for natural language processing applications. The London-based startup, launched in 2017, creates AI-generated videos and avatars for businesses.

However, as he sees it, there are areas where startups might be challenged – skills being a case in point. But that’s not necessarily the case if you are a startup working in, say, retail,” he says. Smart entrepreneurs naturally look for opportunities to innovate and disrupt, and investors seek companies with big outcomes. Gary Fowler is a serial AI entrepreneur with numerous startups and an IPO. There was a time when raising over a billion dollars as an AI startup was enough to warrant a little name recognition.

The startup’s family of LLMs is said to be capable of working with 10 Indian languages. Founded in 2020 by Harikrishna Valiyath, Shubham A Mishra, Vrushali Prasade, Pixis provides a codeless AI infrastructure platform for brands to monitor and orchestrate their marketing campaigns. In line with the growing market opportunity in this space, we have endeavoured to collate a list of Indian startups that are causing a stir in the rapidly evolving Indian GenAI space.

A search for AI customer service chatbots alone returns hundreds of startups. First, LLM technology is readily accessible via APIs from large AI research companies such as OpenAI. Second, while most generative AI startups are new, many startups established pre-2022 are also integrating generative AI into their product suites. The Google for Startups Cloud AI Accelerator is a 10-week program for AI startups in the U.S. and Canada. It provides mentorship, technical support, and access to Google AI tools.