Top 5 VC Deals of the Week in AI (5/31/24)

By Cindy Taylor · May 30, 2024 Views: 1

Our Top 5 VC Deals of the Week in AI featured fundings from Maven AGI, ExpressionEdits, Iris.ai, Rain AI and Sagetop

This week we continue our series on the top 5 VC-funded deals in AI.

For the third week in a row, the VC funding amounts for AI were not HUGE, though a $20M funding round for our winner Maven AGI is nothing to sneeze at.

The week's top five funded deals were in customer support, biotech, scientific text, AI chips and a SaaS marketplace. It's always a diverse crowd - but what's interesting this week is that nothing in this list touched the financial sector. We have no theories as to why this is, but we do realize that AI is touching EVERYTHING currently, not just finance, and hence with this column, we have chosen to cover the top fundings in all sectors.

Below are the top 5 venture-funded AI deals for the past week...

As the AI industry continues to evolve, startups are securing substantial funding to drive innovation and growth. Here are the top 5 VC-backed deals in AI, from highest to lowest funding amount for the past week:

1. Maven AGI

Location: Boston, MA
Description: An AI customer support startup focused on revolutionizing customer service with advanced AI-driven solutions.
Funding Amount: $20M
Funding Round: Series A

2. ExpressionEdits

Location: Cambridge, UK
Description: A biotechnology company optimizing protein expression using AI and proprietary intronization technology.
Funding Amount: $13M
Funding Round: Seed

3. Iris.ai

Location: Oslo, Norway
Description: A provider of an AI engine for scientific text understanding.
Funding Amount: $8.28M
Funding Round: Funding (round unspecified)

4. Rain AI

Location: San Francisco, CA
Description: An AI chip startup developing cutting-edge technology for enhanced AI processing.
Funding Amount: $8.1M
Funding Round: Series A Extension

5. Sagetap

Location: San Francisco, CA
Description: An AI-driven marketplace that matches SaaS buyers with sellers, streamlining the software acquisition process.
Funding Amount: $6.8M
Funding Round: Funding (round unspecified)

These significant investments highlight the innovative capabilities and future potential of AI-driven solutions. The companies listed above are at the forefront of this technological revolution, poised to make substantial impacts in their respective fields. As the AI industry continues to evolve, these ventures represent the cutting edge of progress and promise in the tech world.

Make sure to check back weekly here for our "Top 5 VC AI Deals of the Week in AI"!

Written & Researched by DWN Staff/ VC Deals Synopsized by ChatGPT Research Source: FinSMEs