This article features the top funding in Deep Learning Startups in the first half of 2022
Deep learning technology has come a long way. In today’s scenario, one out of 10 businesses is using more than 10 AI applications ranging from a chatbot, Fraud detector, security, and more. Increased adoption of deep learning across the industries has proved how its algorithms and techniques are efficiently solving complex real-world problems. New deep learning models do things that were unthought-of even a year ago, which has given birth to some exciting deep learning startups. But every good thing requires a sum to grow, similarly, every deep learning startup needs funding to conduct more research and develop extraordinary products. This article features top funding in Deep Learning Startups in the first half of 2022.
London-based Wayve, a company that uses end-to-end deep learning to develop artificial intelligence capable of complex driving, announced on Tuesday that it has raised US$200 million in its Series B round of funding. With this development, the company has raised total funding of $258M. The raised capital will help Wayve to scale and deploy its next-generation autonomous technology globally. The round was led by Eclipse Ventures, a long-time supporter of Wayve. The investment also saw participation from new investors D1 Capital Partners, Baillie Gifford, Moore Strategic Ventures, and Linse Capital as well as additional support from Microsoft and Virgin, and early-stage investors Compound and Balderton Capital.
Distributed machine learning/deep learning startup Boosted.ai has raised US$35 million in new funding to scale up its web-based platform that brings explainable machine learning tools to investment managers. Ten Cove Capital and Spark Capital led the Series B round. Also participating in the round were Portage Ventures, Royal Bank of Canada, and HarbourVest Partners. Including the new funding, Boosted.ai has raised US$46 million to date. Previous investors include Portage Ventures, Dunamu & Partners, and Polar Equity Partners.
The innovative, deep learning-driven health-tech startup recently raised US$15 million in a Series A funding round. The round was led by Morpheus Ventures. The company now has investors like Colorcon Ventures and Debiopharm Innovation Fund, joining the existing investors Serra Ventures, OCA Ventures, Intel Capital, and Susa Ventures. BioiSIM provides scalable, robust models based on data from thousands of drugs across seven species. The platform can be used prior to the start of a preclinical animal trial, providing earlier insights and reducing the cost of complex outsourced experiments.
Social media auditing startup LifeBrand is finalizing an oversubscribed Series A round that will bring in US$27 million and lift its valuation to US$110 million. LifeBrand uses machine learning/deep learning to audit the public social media accounts of its clients and provide Fair Credit Reporting Act- and Equal Employment Opportunity Commission-compliant social media background checks for employers.