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AI Tech Attracts $10T in Funding

AI Tech Attracts $10T in Funding
January 26, 2021

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The last three months of 2020 alone saw $9.7 trillion in funding raised by 440 global AI-related tech companies. AI development is no longer something we dream of in science fiction but rather technology that is infiltrating every sector of the economy. The funding to propel this idea into reality is not slowing down. Here are the top 10 AI tech startups that raised the most funds in the last three months of 2020, half of which have headquarters outside of the US. 


Credit: Unsplash

  1. Zuoyebang, founded in 2014 in Beijing, China, is an online education application for K1-12 students. It received a $1.6BN Round E of funding from Alibaba, Softbank, and others. 
  2. Relativity Space hails from Inglewood, California, and is an aerospace company that designs, develops, and builds 3D printed rockets. It closed a $500MM Round D series of funding led by Tiger Global Management. 
  3. TuSimple raised a $350MM Round E of funding led by VectoIQ LLC. The San Diego-based company makes it possible for long-haul trucks to operate autonomously on highways and surface roads and was founded in 2015. 
  4. DuerOS, an AI speech and image recognition division of Baidu from Beijing, China, raised close to $300MM in a Round A of funding. 
  5. DataRobot is an automated machine learning platform that helps deploy predictive models and create AI applications for enterprises to easily adopt and use the technology. It was founded in Boston in 2012 and received equity funding of $300MM, led by VC Altimeter Capital, in November 2020.
  6. SentinelOne is a cybersecurity tech startup that protects servers and devices against malware and threats, enabling organizations to defend against cyber threats. The Mountain View, California-based company was founded in 2013 and raised a $267MM Round F of funding in November 2020. 
  7. Pony.ai is a full-stack autonomous driving technology developer headquartered in Fremont, California. The company raised $267MM in equity funding led by Teachers’ Private Capital.
  8. Olive AI is an AI platform for healthcare, supporting healthcare by using AI technology to improve operations, including billing, patient verification, and other automation tasks. The Columbus, Ohio-based company raised equity funding of $225MM led by Tiger Global Management.
  9. Graphcore develops AI computer chips that accelerate machine learning applications and was founded in 2012. The company, headquartered in Briston, UK, raised a $222MM Round E of funding led by the Ontario Teachers Pension Plan. 
  10. CARS24 is a Guaragon India-based company that specializes in a tech-enabled marketplace for pre-owned cars. The company raised a $220MM Round E of funding led by DST Global.
Tech startups are helping with vaccine distribution 
New technology is helping states manage the hard task of vaccinations, including scheduling and logistics. 
[Axios]
ASOS is frontrunner for Topshop acquisition
British apparel retailer Topshop filed for bankruptcy in the US in 2019 and has been struggling in the UK. Online eCommerce brand ASOS is rumored to be the front runner in acquiring the brand.
[Business Insider]
Since last week, PrivCo has added:
806 Companies | 230 Funding Activities | 158 M&A Deals

+Funding & Deal Highlights:

Paige.AI raises $100MM
Health Care Services • Round C • New York, NY

StackPulse raises $20MM led by GGV Ventures
Enterprise Software & Internet Services  • Round A • Portland, OR 

Clubhouse raises $100MM at a $1BN valuation led by Andreessen Horowitz
Audio Chat Social Network  • Round B • San Franciso, CA

Yak raises $7.7M led by GGV Capital

Enterprise Software & Internet Services  • Round A • Kissimmee, FL

Cumulus Digital Systems raises $8MM 
Commercial Products & Office Supplies • Equity • Cambridge, MA

Brigit raises $35MM led by Lightspeed Venture Partners
Fintech Software & Internet Services  • Round A • New York, NY

Trovata raises $20MM led by Wells Fargo
Fintech Software & Internet Services • Round A • San Diego, CA

XP Health raises $5MM 
Health Care Software & Internet Services • Seed • Redwood City, CA

Aledade raises $100MM led by MeriTech Capital Partners
Health Care Services • Round D • Bethesda, MD

BlueNalu raises $60MM led by Rage Capital
Food & Beverage Producers • Debt • San Diego, CA

Partners Group acquires Idera, Inc.
Cloud Software & Internet Services • Acquisition • Houston, TX

EVgo Services merges with Climate Change Crisis Impact for $2.6BN
Renewable Electricity & Fuels • SPAC • Los Angeles, CA

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