The AI sector continues to experience explosive growth in 2024, with venture capitalists pouring billions into startups that are redefining technology and industry standards.
More than $35.5 billion has been invested globally into AI startups just in the first half of 2024.
This includes several mega-round deals surpassing $1 billion, underlining the significant investor confidence in the future of artificial intelligence.
This article presents an exhaustive list of 36 U.S. based AI startups that have raised $100 million or more this year, highlighting the transformative potential and diversity within the sector.
Top 36 Artificial Intelligence Startups Transforming Industries in 2024
1. Safe Superintelligence
Founded by former OpenAI co-founder Ilya Sutskever and AI investor Daniel Gross, Safe Superintelligence is pioneering advancements in AI research.
On September 4, it announced a remarkable $1 billion raise, placing its valuation at $4 billion. Major investors include Andreessen Horowitz, Sequoia, and DST Global.
2. Magic
Magic, a San Francisco-based AI coding startup, secured a $320 million Series C round on August 29.
This is the company’s second mega-round of the year, following a $117 million Series B raise in February. CapitalG, Sequoia, and Jane Street Capital were among the investors.
3. Codeium
General Catalyst led a $150 million Series C round for Codeium, an AI-powered coding platform, on August 29.
The round also included Kleiner Perkins and Greenoaks, valuing Codeium at $1.2 billion.
4. DevRev
DevRev, specializing in AI support agents, raised a $100 million Series A round in August. Investors include Khosla Ventures, Mayfield, and Param Hansa Values, resulting in a valuation of $1.1 billion.
5. Abnormal Security
Abnormal Security, focusing on AI-driven email security, raised $250 million on August 5. This funding, led by Wellington Management, pushed the company’s valuation to over $5 billion.
6. Groq
Groq, an AI chip startup, announced a $640 million Series D round on August 5.
Led by BlackRock, the round also attracted investments from Type One Ventures and Verdure Capital Management, valuing the company at more than $3 billion.
7. World Labs
AI researcher Fei-Fei Li’s World Labs raised $100 million in July. The startup is developing AI models for three-dimensional object estimation and has a valuation exceeding $1 billion.
8. Harvey
Legal tech company Harvey secured $100 million in a Series C round on July 23. This funding, led by Google Ventures and including OpenAI and Kleiner Perkins, values Harvey at $1.5 billion.
9. Hebbia
Andreessen Horowitz led a $130 million round for Hebbia, an AI-driven document search startup, which closed on July 8.
With investments from Peter Thiel and Index Ventures, Hebbia’s valuation reached $700 million.
10. Skild AI
Pittsburgh-based Skild AI raised $300 million in a Series A round on July 9. The round, led by Lightspeed Venture Partners and Bezos Expeditions, valued Skild AI at $1.5 billion.
11. Bright Machines
Bright Machines, known for smart robotics and AI-driven software, closed a $106 million Series C round on June 25. Investors included BlackRock, Nvidia, and Microsoft.
12. Etched.ai
San Francisco-based Etched.ai raised $120 million in a Series A round on June 25. The company focuses on developing AI chips for faster and cheaper model execution.
13. EvolutionaryScale
EvolutionaryScale, a New York-based startup working on biological AI models, raised $142 million in a seed round on June 25. Investors include Lux Capital and angel investor Daniel Gross.
14. AKASA
Healthcare automation platform AKASA announced a $120 million raise on June 18, bringing its total funding to $205 million. The round was backed by Andreessen Horowitz, Costanoa Ventures, and Bond.
15. AlphaSense
AlphaSense, a market intelligence platform, secured $650 million in a Series F round on June 11. Led by Viking Global Investors, the company has raised over $1.4 billion in venture funding.
16. xAI
Elon Musk’s xAI raised an unprecedented $6 billion in a Series B round on May 31. The startup aims to accelerate human scientific discovery and is valued at $24 billion.
17. Scale AI
Scale AI, specializing in data-labeling services, raised $1 billion in May. This Series F round, led by Accel, pushes Scale AI’s valuation to nearly $14 billion.
18. Suno
AI music creation platform Suno raised $125 million in a Series B round on May 21. The funding values the company at $500 million.
19. Weka
Weka, known for its AI-native data platform, secured $140 million in a Series E round on May 13. Valor Equity Partners led the round, valuing Weka at $1.6 billion.
20. CoreWeave
CoreWeave raised $1.1 billion in a Series C round on May 1. The company provides GPU infrastructure and is valued at $19 billion.
21. Blaize
Blaize, an AI computing platform, raised $106 million in a Series D round announced on April 29. The round was supported by investors such as Temasek and Franklin Templeton.
22. Augment
Augment, specializing in AI coding assistance, raised $227 million in April. The Series B round was led by Lightspeed Venture Partners and valued Augment near $1 billion.
23. Cognition
Cognition, an applied AI lab startup, closed a $175 million round on April 24. Founders Fund led the round, which followed a $21 million Series A raise in March.
24. Xaira Therapeutics
Xaira Therapeutics, an AI drug discovery startup, raised $1 billion in a Series A round on April 23. The round was led by Foresite Capital and ARCH Venture Partners.
25. Cyera
AI-powered data security platform Cyera raised $300 million in a Series C round on April 9, valuing the company at $1.4 billion.
26. Celestial AI
Celestial AI raised $175 million in a Series C round on March 27. The company focuses on optical interconnect technology for data centers and AI solutions.
27. FundGuard
FundGuard, offering an AI-powered investment accounting system, raised $100 million in a Series C round on March 25, with a valuation of $400 million.
28. Together AI
Together AI, a platform for creating infrastructure and open-source generative AI, raised $106 million in a Series A round on March 13.
29. Zephyr AI
Zephyr AI raised $111 million in a Series A round on March 13. The company enhances drug discovery and precision medicine using AI.
30. Glean
Glean, an AI-driven enterprise search startup, secured $203 million in a Series D round on February 27, bringing its valuation to $2.2 billion.
31. Figure
Figure, an AI robotics startup, raised $675 million in a Series B round on February 24. The company is valued at nearly $2.7 billion.
32. Abridge
Abridge, which uses AI to transcribe medical conversations, raised $150 million in a Series C round on February 23, bringing its valuation to $850 million.
33. Recogni
Recogni, specializing in AI interface solutions, raised $102 million in a Series C round on February 20.
34. Lambda
Lambda, a deep learning infrastructure company, secured $320 million in a Series C round on February 15.
35. Magic
Magic raised $117 million in a Series B round on February 12.
36. Kore.ai
Kore.ai, building conversational AI for enterprises, raised $150 million in a Series D round on January 30.
Key Trends and Insights
In 2024, several key trends have emerged from the funding landscape of AI startups:
Mega-Rounds and High Valuations: The year has seen a significant number of mega-rounds, with several startups raising over $1 billion. Companies like xAI and Scale AI are leading the way, reflecting investor confidence in high-potential AI ventures.
Diverse Applications: AI startups are innovating across various sectors, including healthcare, legal tech, and data security. This diversity highlights the broad applicability of AI technologies in solving real-world problems.
Increased Focus on Infrastructure: Companies like CoreWeave and Lambda are enhancing AI infrastructure, showcasing a growing recognition of the need for robust backend systems to support advanced AI applications.
Emerging Players: New entrants like EvolutionaryScale and Together AI are making their mark, demonstrating the dynamic nature of the AI startup ecosystem.
Sustainability and Ethics: There is an increasing emphasis on the ethical use of AI and sustainability, as seen in the development of models for better resource utilization and ethical decision-making.
Also Read:
Altman-Backed Startup Exowatt Tackles AI’s Carbon Impact with Solar Energy
How Leah Solivan Turned an Idea into a Multi-Million Dollar Company: Lessons from Leah Solivan
Sheryl Sandberg’s Second Investment in Indian AI Startup Simplismart: What You Need to Know
From Seed to Success: LoanKuber Raises $3.5 Million to Scale Mortgage Lending Operations
Conclusion
The landscape of AI startups in the U.S. is vibrant and evolving rapidly.
The substantial investments in these companies underscore the transformative potential of AI technologies and their impact on various industries.
As we move through 2024, the continued growth and innovation in this sector promise to deliver groundbreaking advancements that will shape the future of technology and business.
With a diverse range of startups receiving significant funding, the AI industry is poised for a transformative year, marked by breakthroughs and new solutions to complex challenges.
Disclaimer
The opinions expressed in this article are those of the author alone and do not necessarily reflect the views of Entrepreneur Villa, its creators or staff. Entrepreneur Villa is not responsible for the accuracy or reliability of any information presented in this content.