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Home»Startups»Skilled AI gets $300 million to build robot brains
Startups

Skilled AI gets $300 million to build robot brains

prosperplanetpulse.comBy prosperplanetpulse.comJuly 12, 2024No Comments6 Mins Read0 Views
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Want to track the biggest startup funding deals of 2024 with a curated list of $100 million+ venture deals for U.S.-based companies? Check out the Crunchbase Megadeals Board .

After a quiet holiday week, investors are back on the move, pumping big bucks into robotics, biotech, healthcare and other startups, with six funding rounds bringing in nine figures, which could bode well for startups heading into the rest of the summer.

1. Skild AI, $300 million, robotics: A strong year for robotics startups continued this week. Skild AI became the latest startup to raise big funding, closing on $300 million in Series A funding through Coatue, Lightspeed Venture Partners, SoftBank Group, and Jeff Bezos-led Bezos Expeditions. The funding brings the company’s valuation to $1.5 billion. The Pittsburgh-based startup doesn’t make robots, but it does make robot brains. The theory is that the brain models can be used for a variety of robots and different tasks, rather than just one application. A number of big-name investors seem to be on board with the strategy.

2. Element Biosciences, $277 million, biotechnology: It’s hard to go a week without a big funding round by a biotech company, and this one is no exception. Element Biosciences raised more than $277 million in a Series D led by Wellington Management. The San Diego-based biotech startup is focused on developing DNA sequencing and multi-omics technologies for the research market. The company was founded in 2017 and has raised $678 million to date, according to Crunchbase.

3. Regal, $250 million, Movies: Regal, the second-largest U.S. cinema chain, made the list this week after securing $250 million to upgrade its cinemas. The company plans to add 425 cinemas nationwide with improvements that include premium recliners and other amenities. Regal is owned by Cineworld, which emerged from bankruptcy last year in a financial restructuring process. Investors were not disclosed.

4th place (tie) HarmonyCares, $200 million, Healthcare: Harmony Cares, an in-home primary care provider, raised one of the largest funding rounds this week to expand its business. The Troy, Michigan-based healthcare company closed a $200 million round led by General Catalyst, McKesson Ventures, and a large, unnamed national insurer. The company operates in-home primary care clinics in 15 states and offers services such as home health, hospice, radiology, and labs. It plans to expand its geographic reach across the United States.

4th place (tie) Wealth Acquired, $200 Million, Financial Services: Wealthtech startup Earned Wealth has raised $200 million in investment led by Silversmith Capital Partners and Summit Partners. The company offers medical professionals financial planning, tax planning and investment advice on one platform. The new funding will be used for acquisitions. The company was founded in 2021 and has raised $212 million, according to Crunchbase.

6. Hevia, $130 million, Artificial Intelligence: Hebbia, an AI startup that helps companies analyze all kinds of data to answer more complex, multi-step questions, has raised $130 million in Series B from several big-name investors. The new round was led by Andreessen Horowitz and values ​​the company at about $700 million, according to Bloomberg. The New York-based startup helps companies sift through structured and unstructured data, such as regulatory documents and PDFs, to answer more detailed, complex business questions. The startup has grown revenue 15x and employee headcount fivefold in the past 18 months. The company was founded in 2020 and has raised a total of $161 million, according to Crunchbase.

7. Hayden AI, $90 million, Government Tech: The next time you think about double parking, remember that a San Francisco-based startup just raised a massive Series C to make sure you don’t do it. Hayden AI, a vision AI platform, has locked in a $90 million growth equity round led by The Rise Fund, TPG’s impact investment platform. The company’s platform uses cameras mounted on buses that can spot illegal parking and traffic violations, but it does more than that. The platform uses a geospatial data collection sensor system to provide cities with insights to improve road safety and accessibility. It can detect and predict traffic congestion, improve transportation networks, and more. Founded in 2019, the company has raised more than $193 million to date, according to Crunchbase. The funding is the largest funding received by startups in the govtech space this year, but it’s by no means the only one. In fact, govtech startups have already raised $271.4 million this year, according to Crunchbase data. This already exceeds last year’s total investment in the space of $249.7 million.

8. X-Bow Systems, $70 million, Aerospace: X-Bow Systems, an Albuquerque, New Mexico-based developer of solid rocket motors and hypersonic technology, has raised more than $70 million in funding led by Razor’s Edge. The company was founded in 2016 and has raised about $160 million to date, according to Crunchbase.

9. Caption, $60 million, artificial intelligence: Captions, a New York-based generative video creation and editing platform, has raised $60 million in Series C funding led by Index Ventures at a valuation of $500 million. Founded in 2021, Captions has raised $100 million to date, according to Crunchbase.

Ten. ZwitterCo, $58.4 million, Sustainability: ZwitterCo, a Woburn, Massachusetts-based water treatment startup using membrane technology, has closed a $58.4 million Series B funding round led by Evok Innovations. The company was founded in 2018 and has raised about $99 million to date, according to Crunchbase.

Large Global Trade

The largest funding round this week went to a defense technology company.

  • Hellsing, a Germany-based company that develops artificial intelligence software for defense applications, has raised about $489 million in a round of funding led by General Catalyst, valuing the company at $5.4 billion.

methodology

In the Crunchbase database, we tracked the largest announced funding rounds raised by U.S.-based companies over a seven-day period from July 6 to July 12. Most announced rounds are reflected in the database, but some rounds are reported later in the week, so there may be a slight lag.

Illustration: Dom Guzman

Stay up to date on recent funding rounds, acquisitions, and more with Crunchbase Daily.



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