VCs determined to replace your job keep AI’s funding surge rolling in Q2

Joanna Glasner Contributor Joanna Glasner is a reporter for Crunchbase. More posts by this contributor: Not a minimalist? Startups will gladly store, manage and deliver your items The state of the unicorn These are good times for AI entrepreneurs. Recent analysis of venture data shows that funding for artificial intelligence startups continues its upward trend in 2017, with investment hitting new highs. (For deep dives into aggregate Q2 venture performance, head here for the world, and here for just the U.S.) Venture, corporate and seed investors have put an estimated $3.6 billion into AI and machine learning companies this year, according to Crunchbase data. That’s more than they invested in all of 2016, marking the largest recorded sum ever put into the space in a comparable period. Where did the money go? Nearly 40 percent of 2017’s to date funding went to two companies. Argo AI, a Pittsburgh-based developer of AI technology for self-driving vehicles, raised $1 billion from Ford in February. And just this week, China-based SenseTime raised $410 million to develop applications of AI-powered deep learning technology for use cases like facial recognition and image processing. Those weren’t the only big investments. At least 28 AI and machine learning companies closed rounds of $20 million or…

Link to Full Article: VCs determined to replace your job keep AI’s funding surge rolling in Q2

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