AI Funding News Week Ending 8.23
We've seen a quieter landscape this week, but let's see who IS raising funding!
Hello, Feed the AI readers! This week in AI funding, we've seen a quieter landscape across North America and EMEA, with a few standout investments capturing our attention.
Notable rounds include Otto’s $6M seed funding to redefine AI-driven business travel and Defcon AI's impressive $44M seed investment to innovate military environment simulations. Meanwhile, Trunk Tools advances the construction industry with $20M in Series A funding.
Internationally, SleekFlow's $7M raise in Singapore highlights the continued expansion of AI in customer engagement.
This week’s acquisitions also made waves, with Scandit acquiring MarketLab to enhance retail AI applications and Arsenal Capital Partners taking over Knowtion Health, pointing towards a strategic integration of AI in healthcare.
Let's dive in:
🌎 North America:
Otto Raises $6M in Seed Funding
Seattle, WA - Otto, a startup building an intelligent and autonomous AI travel agent for business travelers, raised $6M in Seed funding.
Trace Machina Closes $4.7M Seed Funding
San Francisco, CA - Trace Machina, a company building simulation infrastructure for safety-critical technologies in physical-world AI, raised $4.7M in Seed funding.
Harmonyze Raises Over $2M in Pre-Seed Funding
New York, NY - Harmonyze, formerly known as Legal Hat, a provider of an AI-first platform designed to increase franchisor’s profit margins, raised over $2M in Pre-Seed funding.
Lazarus AI Receives Investment from WaveFx
Cambridge, MA - Lazarus AI, a document understanding company, received an investment from WaveFx, a founding partnership company based in New Bedford, MA.
Pitchit Raises $2.5M in Seed Funding
San Francisco, CA - Pitchit, a provider of an AI-powered lead qualification as a service (LQaaS) platform, raised $2.5M in Seed funding in July 2024.
Skyfire Systems Raises $8.5M in Funding
San Francisco, CA - Skyfire Systems, a provider of a payment network for AI, raised $8.5M in funding.
Kubiya Raises $6M in Extension Funding
San Jose, CA - Kubiya, a provider of a conversational AI solution for DevOps teams, raised $6M in extension funding.
Trunk Tools Raises $20M in Series A Funding
New York, NY - Trunk Tools, a provider of an AI Platform for the construction industry, raised $20M in Series A funding.
Defcon AI Raises $44M in Seed Funding
Mclean, VA - Defcon AI, an insights company building a new modeling, simulation, and analysis (MS&A) toolset for the modern military environment, raised $44M in Seed funding.
ModelOp Raises $10M in Series B Funding
Chicago, IL - ModelOp, a provider of AI Governance software for enterprises, raised $10M in Series B funding.
🌍 EMEA:
SleekFlow Raises US$7M in Series A+ Funding
Singapore, Singapore - SleekFlow, a provider of an omnichannel conversational AI suite for customer engagement, raised US$7M in Series A+ funding.
Reliant AI Raises $11.3M in Seed Funding
Montreal, Canada & Berlin, Germany - Reliant AI, a provider of gen AI-powered data analytics software, raised $11.3M in Seed funding.
SportAI Raises $1.8M in Seed Funding
Oslo, Norway - SportAI, a B2B sports technology company, raised $1.8M in Seed funding.
🤝 Acquisitions:
Scandit Acquires MarketLab
Zurich, Switzerland - Scandit, a company specializing in smart data capture, announced the asset acquisition of shelf audit automation technology from MarketLab, a Polish image recognition and AI software company specializing in the retail industry.
EQT Private Equity Acquires Majority Stake in AMCS
Stockholm, Sweden - EQT Private Equity acquired a majority stake in AMCS, an Ireland-based supplier of cloud-based and AI-enabled planning, performance, safety, and sustainability-focused software for waste management, recycling, and other resource-intensive industries.
Arsenal Capital Partners to Acquire Knowtion Health
New York, NY - Arsenal Capital Partners, a private equity firm specializing in building technology-rich healthcare and industrial growth companies, announced its agreement to acquire Knowtion Health, a provider of revenue cycle insurance claim resolution services supported by AI-enabled technologies.
Nobl Q Acquires Corezi
Dallas, TX - Nobl Q, a provider of AI and cloud-based solutions, acquired Corezi, a company specializing in cloud-based solutions and digital transformation services.
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