2024 was a big year for AI startups. VCs have not grown tired of AI yet, although there might be some initial fatigue among people who are outside the innovation conversation and trying to keep up all news. AI startups have almost raised 30% of total venture capital raised in 2024. Elon Musk’s xAI raised a behemoth $6 billion round, one of seven AI funding rounds over $1B in 2024, few months after OpenAI’s $6.6B round. Below are some of the top U.S.-based AI startups that raised $100M or more in 2024. These venture capital investment activities offer a perspective on the disruptive nature of AI and the general excitement of various industries from its long-term potential.
January
Kore.ai (Orlando, FL): Kore.ai is a developer of an enterprise conversational and generative AI platform to help organizations design, develop, test, and manage chatbots for internal or customer-facing business scenarios. It accelerates AI value with comprehensive AI offerings for work, process and service with agent platform and no-code tools. It raised a $150M Series-D round. FTV Capital led the round, Nvidia, Vistara Growth, and NextEquity Partners participated as well, among others.
February
Figure (Sunnyvale, CA) – Figure Robotics is an AI robotics company that is building a multi-purpose humanoid form robot. It raised a $675M Series B round that valued the startup at nearly $2.7B. Nvidia, OpenAI and Microsoft participated in the round, among others. The startup was founded in 2022 and has raised more than $850M.
Glean (Palo Alto, CA) – Glean develops an AI-based search engine software that connects enterprise data and generates answers through a tool in any company. It raised $203M Series-D round that valued the startup at $2.2B. The round was led by Lightspeed Venture Partners and Kleiner Perkins with participation from Sequoia and Databricks Ventures, among others. The Silicon Valley-based startup has raised more than $350M in venture funding and its founder, Arvind Jain, was recently interviewed on TechCrunch’s Found podcast.
Lambda (San Jose, CA) – Lambda is a cloud-based GPU company catering to developers throughout the entire lifecycle of AI development. It raised $320M in a Series C round led by Thomas Tull’s US Innovative Technology Fund with participation from Gradient Ventures, Mercato Partners and T. Rowe Price, among others. Lambda has raised more than $900M in venture capital and was most recently valued at $1.5B.
Magic (San Francisco, CA) - Magic is an AI coding startup that enables developers to work with AI to find code for building apps. The company allows software engineers to use natural language to describe the application or function they want to create. Magic AI then generates all the necessary code to develop that app. It raised a $117M Series B round led by NFDG Ventures with participation from CapitalG and angel investor Elad Gil.
Abridge (Pittsburgh, PA) - The AI-powered platform is purpose-built for medical conversations, improving clinical documentation efficiencies while enabling clinicians to focus on their patients. The enterprise-grade technology transforms patient-clinician conversations into structured clinical notes in real-time, with deep EMR integrations. It raised a $150M Series C round led by Redpoint and Lightspeed Venture Partners with participation from USV, IVP and Spark Capital, among others. This round brings the company’s valuation to $850M.
Recogni (San Jose, CA) – Recogni is a system solution company that specializes in the design of high-performance, low-power AI inferencing. it raised a $102M Series C round, led by GreatPoint Ventures and Celesta Capital. Pledge Ventures, Mayfield and DNS Capital also contributed to the round.
March
Together AI (San Francisco, CA) - Together AI is a cloud-based platform designed for constructing open-source generative AI and infrastructure for developing AI models. Salesforce Ventures led Together AI’s $106M Series A round that valued the company at $1.2B. NEA, Kleiner Perkins and Lux Capital also participated in the round, among others.
Celestial AI (Santa Clara, CA) – Celestial AI develops an optical interconnect technology platform for data center and AI computing solutions. It raised a $175M Series C round, the round was led by Thomas Tull’s US Innovative Technology Fund with participation from M Ventures, Temasek and Tyche Partners, among others.
FundGuard (New York City, NY) – FundGuard is an artificial intelligence-powered and cloud native investment accounting operating system. The company's platform uses cloud technology and artificial intelligence to detect abnormalities, automatically resolve exceptions, and recommend operational changes, allowing asset managers and fund administrators to reimagine productofferings as digital experiences with real-time transparency. It raised $100M Series-C at a $400M valuation. The round was led by Key1 Capital with participation from Hamilton Lane, Blumberg Capital and Team8, among others.
Zephyr AI (Fairfax Station, VA) – Zephyr AI is a healthcare technology company that reshapes traditional approaches to drug discovery and precision medicine. It raised a $111M Series A round, Revolution Growth, Eli Lilly and Company Foundation, EPIQ Capital Group and investor Jeff Skoll all participated in the round.
April
Xaira Therapeutics (San Francisco, CA) - Xaira Therapeutics is an integrated biotechnology company driving advances in artificial intelligence. The AI drug discovery startup raised a $1B Series A round. Foresite Capital and ARCH Venture Partners led the round. Sequoia, NEA and Lux Capital participated in the round, among many others.
Cyera (New York City, CA) - Cyera is an AI-powered data security platform that gives enterprises deep context on their data to assure cyber-resilience and compliance. Coatue led the recent $300M Series-C round into the AI-powered data security platform. The round valued the startup at $1.4B. Sequoia, Redpoint and Accel also participated in the round, among others.
Augment Code (Palo Alto, CA) – With Augment, SW development teams get up to speed and get more done. It puts a SW development team’s collective knowledge—codebase, documentation, and dependencies—at fingertips via chat, code completions, and suggested edits. It raised $227M in Series-B for its AI coding assistance. Lightspeed Venture Partners, Index Ventures and Sutter Hill Ventures participated in the round, which valued the startup just shy of $1B.
Cognition (San Francisco, CA) - Cognition is an applied artificial intelligence lab that focuses on reasoning and code. Founders Fund led the startup’s $175M Series-B round. This round came just about a month after the firm raised a $21M Series A round in March from Founders Fund and numerous other investors, including Ramp co-founder Eric Glyman, Stripe co-founders Patrick and John Collison, and DoorDash co-founder Tony Xu. The company is valued at nearly $2B.
Blaize (Sacramento, CA) - Blaize is a leading provider of a proprietary purpose-built, full-stack hardware architecture and low-code/no code software platform that enables edge AI processing solutions at the network’s edge for computing in multiple large and rapidly growing markets — automotive, mobility, retail, security, industrial automation, medical devices, and many others. Blaize’s novel solution solves the technical problem that edge AI processing requires across those verticals — very low latency and high thermal and power efficiency — which previously relied on retrofitting sub-optimized AI solutions designed more for data centers and the cloud. The AI computing platform startup raised $106M in a Series D round from investors, including Temasek, Franklin Templeton and Bess Ventures, among others.
May
Scale AI (San Francisco, CA) - Scale AI provides data-labeling services to companies for training AI models. Its solution provides training and validation data for artificial intelligence applications. The company's LiDAR, video, and image annotation APIs allow self-driving, drone, and robotics teams at companies like Lyft, OpenAI, Zoox, Pinterest, and Airbnb to focus on building differentiated models vs. labeling data. The startup raised $1B in Series-F round that was led by Accel with participation from Tiger Global, Spark Capital and Amazon, among others. It is currently valued at nearly $14B.
Weka (Campbell, CA) - WEKA is a global data platform company that delivers a cloud-native, software-based data platform for AI & next-generation workloads. It raised $140M in a Series-E round that was led by Valor Equity Partners with participation from Qualcomm Ventures, Nvidia and Hitachi Ventures, among others. The startup was valued at $1.6B.
CoreWeave (Roseland, NJ) – CoreWeave is an AI hyperscaler that delivers a cloud platform managing complexity through automation and making supercomputing accessible. The New Jersey-based GPU infrastructure provider raised $1.1B in a Series-C round. Coatue led the round with participation from Fidelity, Altimeter Capital and Magnetar Capital, among others. CoreWeave is valued at $19B.
xAI (San Francisco, CA) - Elon Musk’s xAI raised a jaw-dropping $6B Series B round from investors, including Sequoia, Valor Equity Partners and Fidelity, among others. The startup is building an AI platform that will accelerate human scientific discovery and is valued at an equally stunning $24B.
Suno (Cambridge, MA) - Suno is a music start-up that enables anyone to make the songs they want. It raised $125M in a Series B round at $500M from Founder Collective, Lightspeed Venture Partners and Matrix participated in the round in addition to former GitHub CEO Nat Friedman and former head of AI at Y Combinator Daniel Gross.
June
Etched.ai (San Francisco, CA) - Etched.ai is an AI chip startup that develops Sohu, a chip designed specifically for running transformer models. It raised a $120M Series-A round and the round was led by Primary Venture Partners and Positive Sum with participation from Two Sigma Ventures, Peter Thiel and Kyle Vogt, among others. Etched.ai is working to make chips that can run AI models faster and cheaper than GPUs.
EvolutionaryScale (New York City, NY) - EvolutionaryScale is developing biological AI models for therapeutic design. The business predicts protein structures by combining biological data from DNA sequences, gene expression, and epigenetic states, allowing scientists to use massive language models to create RNA-based medicinal therapies. It raised a $142M in seed round that was led by Lux Capital, former GitHub CEO Nat Friedman and Daniel Gross, an angel investor and former head of AI at Y Combinator.
AlphaSense (New York City, NY) – AlphaSense is a market intelligence platform that allows professionals to make critical decisions with confidence and speed. The company has nearly 2,000 enterprise clients, including financial institutions that use the platform to inform their business decisions. It raised a $650M Series-F. The round was led by Viking Global Investors and BDT & MSD Partners with participation from CapitalG, SoftBank Vision Fund and Goldman Sachs, among others.
AKASA (San Francisco, CA) - AKASA is an AI-powered automation company for revenue cycle management in healthcare. It announced a $120M Series-C round and the startup has collected $205M in total funding and has raised from investors, including Andreessen Horowitz, Costanoa Ventures and Bond in prior rounds.
Bright Machines (San Francisco, CA) - Bright Machines brings together flexible factory robots with intelligent software, production data and machine learning. BlackRock led a $106M Series-C round, Nvidia, Microsoft and Eclipse Ventures, among others, also participated. The startup makes both smart robotics and AI-driven software and has raised more than $437M in total funding.
July
Skild AI (Pittsburgh, PA) - Skild AI is a startup that develops software to power various robots including ones with two or four legs. It announced a $300M Series A round that valued the startup at $1.5B. The round was led by Lightspeed Venture Partners, Coatue and Jeff Bezos’ Bezos Expeditions with participation from Sequoia, Menlo Ventures and General Catalyst, among others.
Harvey (San Francisco, CA) - Harvey is a generative artificial intelligence technology-based firm that develops tailored suite products for lawyers and law firms. The legal tech company announced a $100M Series-C round that was led by Google Ventures, with participation from OpenAI, Kleiner Perkins and Sequoia. The startup was valued at $1.5B.
Hebbia (New York City, NY) – Hebbia is the interface for AI – the first AI platform that works the way humans work. It turns prompts into processes that AI agents complete. Finance, law, government, and pharma professionals from the world’s largest institutions are using Hebbia to execute workflows with hundreds of steps over millions of documents. The startup raised $130M at $700M valuation from Andreessen Horowitz, Peter Thiel, Index Ventures and Google Ventures.
World Labs (San Francisco, CA) - World Labs develops AI models with spatial intelligence for 3D world perception and interaction. Renowned AI researcher Fei-Fei Li’s startup raised a $100M round. The startup is already valued at more than $1B. World Labs is looking to build AI models that can accurately estimate the three-dimensional physicality of real-world objects.
August
DevRev (Palo Alto) – DevRev is a business software startup focused on bringing developers closer to customers and revenue. The company aims to break down the silos between developers and end-users, allowing for direct collaboration and communication, thereby enhancing customer-centric product development. The startup which makes AI support agents, garnered a $1.1B valuation after its sizable early stage raise. It raised a $100M Series-A round that included investors like Khosla Ventures, Mayfield and Param Hansa Values.
Magic (San Francisco, CA) - Magic is an AI coding startup that enables developers to work with AI to find code for building apps. The AI coding startup raised its second mega-round, $320M in a Series-C round. CapitalG, Sequoia and Jane Street Capital participated in the round, among others.
Abnormal Security (San Francisco, CA) - Abnormal Security is an email security company that protects enterprises from targeted email attacks. The platform takes a data science approach to provide everything needed for comprehensive email protection, detection, and response. Abnormal Behavior Technology models the identity of both employees and external senders, profiles relationships, and analyzes email content to stop attacks that lead to account takeover, financial damage, and organizational mistrust. It raised $250M, this funding round was led by Wellington Management with participation from Menlo Ventures, Greylock and Insight Partners. The company is valued at more than $5B.
Codeium (Mountain View, CA) - Codeium provides an AI-powered coding platform that maximizes developer productivity. General Catalyst led the $150M Series-C round into the AI-powered coding platform. The round also included Kleiner Perkins and Greenoaks and valued Codeium at $1.2B.
Groq (Mountain View, CA) - Groq radically simplifies the compute process to accelerate workloads in artificial intelligence, machine learning, and high-performance computing. It raised a $640M Series D round led by BlackRock. The AI chip startup also received investment from Type One Ventures, Verdure Capital Management and Neuberger Berman, among others. The company is valued at more than $3B.
September
Safe Superintelligence (Palo Alto, CA) - Safe Superintelligence is an artificial intelligence research lab that solves the technical challenge of building superhuman intelligence. The company operates a dedicated lab to advance capabilities while prioritizing safety through revolutionary engineering. The AI research lab was founded by former OpenAI co-founder Ilya Sutskever and AI investor Daniel Gross. It announced a $1B raise at a $4B valuation. Andreessen Horowitz, Sequoia and DST Global participated in the round, among others.
Glean (Palo Alto, CA) - Glean develops an AI-based search engine software that connects enterprise data and generates answers through a tool in any company. The enterprise search startup raised a $260M Series-E round that, Sapphire, valued it at $4.5B. The round was led by Coatue, Kleiner Perkins, General Catalyst, Craft Ventures, Altimeter, Lightspeed, Sapphire, Sequoia and IVP.
October
Nimble Robotics (San Francisco, CA) – The autonomous warehouse robotics startup is in AI robotics and e-commerce fulfillment technology company that automates the processes of picking and packing products. It raised a $106M Series-C round that valued the company at $1.1B. The round was co-led by FedEx and Cedar Pine.
Lightmatter (Mountain View, CA) - Lightmatter develops photonic chips that enable data processing and communication using light instead of electricity. It raised a $400M Series D round led by T. Rowe Price. The round values the startup at $4.4B and it has raised more than $800M in venture capital.
Sierra (San Francisco, CA) - It makes AI chatbots for enterprise customers, tackles essential business challenges by leveraging Enterprise AI solutions. The startup aims to integrate practical AI solutions into established business workflows seamlessly. Its conversational AI agents help companies streamline interactions, resolve issues efficiently, and deliver personalized support. It raised a $175M round that values the startup at nearly $4.5B. The round was led by Greenoaks with participation from Thrive Capital and Iconiq Capital.
EvenUp (San Francisco, CA) - EvenUp is an AI-powered legaltech company, is a legal tech company that develops cloud and AI-based legal case management solutions for personal injury AI and document generation. Its ligation cost software values personal injury claims and automates aspects of personal injury legal practices. It raised a $135M Series-D round led by Bain Capital Ventures with participation from SignalFire and Lightspeed, among others. The round valued the startup at $1B.
KoBold Metals (Berkeley, CA) - KoBold Metals is an AI-powered critical mineral startup that discovers essential materials for electric vehicles and renewable energy. It raised $491M in a recent venture round. The investors aren’t disclosed, but in the past, the company raised from VCs including Bond and Andreessen Horowitz.
OpenAI (San Francisco, CA) - OpenAI is an AI research and deployment company that conducts research and develops machine learning technologies. OpenAI works on projects that involve autonomous learning and task performance. It serves industries such as technology, healthcare, and education. It announced a $6.6B round was the largest venture round of all time and valued the company at $157B. Thrive Capital led the round and was joined by other investors, including Tiger Global and SoftBank.
Path Robotics (Columbus, OH) - Path Robotics designs robotic welding systems that incorporate AI and machine learning for enhanced precision and adaptability. These systems automate repetitive tasks, enabling manufacturers to increase productivity while minimizing upfront costs. The company addresses workforce challenges in the manufacturing sector through effective automation solutions. The autonomous welding robot startup raised a $100M Series-D round that was led by Matter Venture Partners and Drive Capital with participation from Tiger Global and Addition, among others.
Poolside (San Francisco, CA) - Poolside is an artificial intelligence platform that offers foundation concepts and infrastructure to write software codes. The AI-powered software development platform closed a $500M Series-B round. The round was led by Bain Capital Ventures with participation from Redpoint, StepStone, and Nvidia, among others. The round values the company at $3B.
November
Writer (San Francisco, CA) - Writer is a full-stack generative AI platform that helps businesses use large language models to generate writing and content that can be used across different departments, including operations, products, sales, human resources, marketing, and more. It announced a $200M Series-C round at $2B valuation. The round was led by Radical Ventures, Premji Invest, and Iconiq with participation from Salesforce Ventures, Insight Partners, and Vanguard, among others.
Physical Intelligence (San Francisco, CA) – The startup is working on integrating general-purpose AI with robotics and physical devices. It develops foundation models and learning algorithms for robots to allow industries to perform tasks across various applications. It raised a $400M Series-A round at more than $2B, the round was led by Lux Capital, Sequoia and Jeff Bezos, among others.
xAI (Burlingame, CA) - Elon Musk’s xAI raised its second big funding round, a $6B round from investors including Sequoia, Andreessen Horowitz, and the Qatar Investment Authority, at $50B valuation. It develops AI technologies for data analysis and decision-making, uses machine learning algorithms to increase accuracy in finance, healthcare, and logistics industries.
Enfabrica (Mountain View, CA) - AI networking chip startup that develops networking solutions for parallel and accelerated computing infrastructure. It raised a $115M Series-C round led by Spark Capital. Sutter Hill Ventures, Cisco Investments, and Valor Equity Partners, among others.
December
Tractian (Atlanta, GA) - Tractian provides asset management and monitoring solutions. It offers tools for data collection and analysis to track asset performance and condition. The system integrates with sensors and devices for predictive maintenance. Tractian serves sectors including manufacturing, logistics, and energy. It raised a $120M Series-C round that values the startup at $720M. The machine intelligence startup raised money from Sapphire Ventures, NGP Capital and General Catalyst, among others.
Tenstorrent (Santa Clara, CA) – Tenstorrent designs and manufactures AI hardware and software for data processing and machine learning tasks. It provides solutions for computational performance. Its products are used in various applications within the technology sector. The AI hardware startup nabbed a $690M Series-D round at $2.7B valuation. Samsung and AFW Partners led the round with participation from Fidelity, Bezos Expeditions, and Hyundai Motor Group, among others.
Liquid AI (Cambridge, MA) – A foundation model startup, that raised a $250M Series-A round that values the startup at $2.4B. AMD Ventures led the round and was joined by Duke Capital Partners, The Pags Group, and OSS Capital. It creates AI solutions for various applications in industries such as finance, healthcare, and logistics.
Precision Neuroscience (New York City, NY) - Precision Neuroscience is a neural platform that engages in brain-computer interface technology. It raised $102M Series-C round from Steadview Capital, B capital and Stanley Druckenmiller’s family office. The startup is founded by neurosurgeon and engineer Ben Rapoport, this positions the company as a significant player in the brain-computer interface (BCI) space, competing with Neuralink.
Anysphere (Buffalo, NY)- Anysphere, the developer of the AI-powered coding assistant Cursor, has raised $100M in a Series B round, bringing its valuation to $2.6B. The round was led by Thrive Capital, with participation from a16z and other investors. Anysphere’s code editor, Cursor, is based on the popular VS Code software development tool from Microsoft Corp. The startup augmented the core feature set with an AI assistant that helps programmers carry out their work faster.
SandboxAQ (Palo Alto, CA) - SandboxAQ, a company spun out of Alphabet in 2022, is revolutionizing enterprise AI by focusing on Large Quantitative Models (LQMs) rather than the more commonly known Large Language Models (LLMs). is applying AI to solve complex computational challenges across industries like drug discovery, materials science, healthcare diagnostics, and GPS-free navigation. With a $300M funding round led by Fred Alger Management, T. Rowe Price, and Breyer Capital, the company has achieved a $5.6B valuation.
Artificial Intelligence is at the core of some of the most dynamic and transformative startups emerging in 2024. From healthcare diagnostics to AI-driven creativity tools, these companies are pushing the boundaries of what AI can achieve. Investors are taking note, as these startups offer exciting opportunities to reshape industries and deliver impactful solutions worldwide.
/Service Ventures Team
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