Organizations are actively utilizing AI technology. This article features the top funding in AI startups in January 2022.
Artificial intelligence or AI technology is ruling almost every industry today. Be it a tech giant or a start-up, business leaders prefer AI technology over any other traditional IT practices, as they believe artificial intelligence or AI will be the key element behind their business’ success. Startups form the backbone of the Indian economy. The amount of money invested annually into startup companies working in the artificial intelligence (AI) market worldwide has continuously increased from 2014 to 2021. In 2020, AI startups attracted around US$36 billion in investment. Just in the first six months of 2021, these figures were surpassed and reached US$38 billion. This article features the top funding in AI startups in January 2022.
Mumbai and San Francisco-based Fractal has raised US$360 million in funding from private equity investors TPG. The investment would be made through TPG’s Asia-focused private equity platform TPG Capital Asia. Fractal offers artificial intelligence (AI) and analytics solutions — such as marketing analytics, forecasting, pricing, and promotion optimization services, and consumer insights — to several Fortune 500 firms in the world, which typically have a revenue of US$10 billion.
Heaps Health Solutions
Artificial intelligence (AI)-driven healthtech startup Heaps Health Solutions has raised US$7.45 million in a Series A funding round led by NVS Wealth Managers and Rajiv Dadlani group. Heaps, a network-as-a-service provider that offers AI-based patient engagement platforms to insurers, hospitals, and corporations, said it plans to deploy the fresh capital for expanding its team, accelerate product development and optimization, and penetrate further into existing and newer markets.
Moffett AI, a Shenzhen-based chip design company, has received a fresh Series A injection. The company did not disclose the exact amount, only saying that the proceeds were in the “several tens of millions of dollars.” Moffett vows that its AI chips differentiate by using a technology called “sparsification“, a process that prunes redundant information from neural network models and ultimately leads to faster processing.
7bridges is aiming to simplify that by way of an AI-based automation platform — it ingests a company’s supply chain, operating, and logistics data to present a user with optimized recommendations for how to move goods — is announcing US$17 million in new funding, a sign of the demand in the market to address and fix how supply chains work.
OpenSea, one of the most talked-about blockchain startups in Silicon Valley, has raised US$300 million in new venture capital, making it the latest company to cash in on a rush to fund cryptocurrency startups. The new round of funding, led by investment firms Paradigm and Coatue Management, brings the startup’s valuation to a staggering US$13.3 billion just four years after it was founded.