Generative AI startups are receiving 40% of all venture capital investments in the cloud sector. According to Accel’s Euroscape report, venture funding for cloud startups in the US, Europe, and Israel is projected to rise to $79.2 billion. Ryan Browne reports for CNBC that funding for the cloud industry increased by 27% year-over-year – the …
Galileo, an AI startup led by Vikram Chatterji, has raised $45 million in a Series B funding round, totaling $68 million since its inception three years ago. The company focuses on evaluating AI models to ensure they function effectively and do not generate incorrect information or leak sensitive data, reports Forbes. Its product suite includes …
Decagon, co-founded by Jesse Zhang and Ashwin Sreenivas, has developed an AI-powered customer service system that handles routine tasks for companies like Notion and Duolingo. After a year of rigorous competition, Decagon’s chatbot consistently outperformed rivals in “bake-off” evaluations against tools from competitors like Salesforce. The startup has recently raised $65 million in a Series …
Strella, a startup using AI for market research, has raised $4 million in seed funding, reports VentureBeat. The company, founded by Lydia Hylton and Priya Krishnan, employs artificial intelligence to automate and accelerate customer interviews. According to the founders, the platform can deliver insights up to ten times faster and at half the cost of …
Gladia, an AI-powered transcription and audio intelligence provider, has secured $16 million in funding. The Paris-based company plans to develop a new real-time transcription and analytics engine with this investment. CEO Jean-Louis Quéguiner told VentureBeat he founded the company out of frustration with existing services’ poor accent recognition. Gladia’s new engine can transcribe over 100 …
Braintrust, a startup specializing in evaluating AI products, has secured $36 million in Series A funding. The company, founded by Ankur Goyal, helps businesses improve the accuracy of their AI tools. According to Forbes contributor Alex Konrad, Braintrust already boasts clients such as Airtable, Brex, Instacart, and Stripe. Braintrust’s software evaluates and monitors the performance …
OpenAI has secured a flexible credit line of $4 billion, which can be increased to $6 billion. This is reported by Hayden Field for CNBC. The additional funds provide the company, recently valued at $157 billion, with a total liquidity of over $10 billion. Several major banks, including JPMorgan Chase, Citi, and Goldman Sachs, participated …
OpenAI (ChatGPT) and Anthropic (Claude) show clear differences in their business models and revenue streams. According to Tanay Jaipuria, OpenAI is expected to generate five times more revenue than Anthropic by the end of 2024. While OpenAI generates 73% of its revenue from ChatGPT subscriptions, 60-75% of Anthropic’s revenue comes from third-party APIs, primarily through …
OpenAI has raised $6.6 billion in a new funding round, valuing the company at $157 billion, according to Bloomberg. The investment aims to help OpenAI maintain its leading position in generative AI technology. It is one of the largest private investments ever made. The funding round was led by Thrive Capital. Investors include Microsoft, Nvidia, …
A new startup called Crescendo has raised $50 million and is now valued at $500 million. The company offers AI-powered customer service solutions, competing with traditional call centers. Co-founder Anand Chandrasekaran told Bloomberg that Crescendo uses AI assistants with human backup to handle customer inquiries faster and more accurately. The funding came from investors including …