3.The AI Uprising: Key Startup Profiles Unveiled
3.The AI Uprising: Key Startup Profiles Unveiled
A look into 10 promising startups driving the future of genAI
Startups covered
Grammarly
Harvey AI
Hazy
Hugging Face
Insilico Medicine
Jasper
Mostly AI
Murf AI
Mutiny
Neurala
Open AI
Grammarly
Company Description
Grammarly is a writing assistant that utilizes AI technology to detect and rectify grammatical, spelling, punctuation, and other writing errors instantly.
The company’s technology provides recommendations to enhance the style, tone, and clarity of the text. It has a collection of writing tools for enterprises, such as a team management system, an API for embedding Grammarly into other software, and a writing handbook.
Headquarters: USA
Sector: Cross-sector
Founded: 2009
Website: www.grammarly.com
Total Funding: $400 million
Latest Funding: $200 million
Latest Series: Private equity
Key Themes: Artificial Intelligence
Key Investors
Grammarly: key products
Recent Updates
March 2023: Grammarly introduced GrammarlyGO, a new generative AI product.
March 2022: Grammarly ranked among the top 100 most influential companies according to TIME magazine.
October 2021: Grammarly announced a strategic partnership with Samsung Mobile to integrate its advanced writing assistance technology into the Samsung Keyboard.
Harvey
Company Description
Harvey is an AI-focused technology company that provides generative AI-based solutions for legal workers. In 2022, the startup picked up $5 million in its seed round that was led by OpenAI, the company behind ChatGPT.
In 2023, Harvey partnered up with PwC and Allen & Overy to deploy AI-assisted chatbots. The solution will help lawyers with legal searches, preparing drafts, preparing legal documents, and more. The startup raised an undisclosed amount of funding from Sequoia Capital in April 2023.
Headquarters: USA
Sector: Legal
Founded: 2022
Website:www.harvey.ai
Total Funding: $5 million
Latest Funding: Undisclosed
Latest Series: series A
Key Themes: Artificial Intelligence
Key Investors
Harvey: key products
Recent Updates
April 2023: Sequoia Capital invests an undisclosed amount in Harvey’s series A funding round.
February 2023: UK-based law firm Allen & Overy, announces partnership with Harvey to deploy Harvey’s AI solutions to assist lawyers.
Hazy
Company Description
Hazy is a provider of software solutions for data anonymization and privacy protection. Its platform enables businesses to protect sensitive information while still being able to use it for analysis and other purposes.
Hazy’s software uses AI and ML algorithms to automatically identify and mask sensitive data points in datasets, such as personally identifiable information, financial information, and medical records to comply with data privacy regulations.
Headquarters: United Kingdom
Sector: Cross-sector, Telecom, Research, Automotive, Financial services
Founded: 2017
Website:www.hazy.com
Total Funding: $14.8 million
Latest Funding: $9 million
Latest Series: Series A
Key Themes: Conversational Platforms, Big Data
Key Investors
Hazy: key products
Latest Updates
March 2023: Hazy raised $9 million in Series A funding to fuel its expansion in the UK, US, and Europe.
December 2022: Vodafone partnered with Hazy to test the use of synthetic data to help companies in executing data science projects
Hugging Face
Company Description
Hugging Face is an open-source hosting platform for NLP and other ML domains, including computer vision and reinforcement learning.
The company’s technology enables users to build, train, and deploy NLP models, making them accessible to everyone. Hugging Face's repository of open-source libraries and models provides access to ML models.
Headquarters: USA
Sector: Cross-sector
Founded: 2016
Website: www.huggingface.co
Total Funding: $160.2 million
Latest Funding: $100 million
Latest Series: Series C
Key Themes: Artificial Intelligence & Conversational Platforms
Key Investors
Hugging Face: key products
Latest Updates
April 2023: Hugging Face has launched HuggingChat, an open-source alternative to ChatGPT.
February 2023: Hugging Face partnered with Amazon Web Services to streamline AI development projects.
May 2022: Hugging Face raised $100 million in Series C funding to enhance research and open-source products.
Insilico Medicine
Company Description
Insilico Medicine is a biotechnology company that uses AI to discover and develop new drugs. It developed various AI-powered platforms that enable rapid drug discovery and development, including Generative Tensorial Reinforcement Learning (GENTRL), Chemistry42, and PandOmics.
The company is actively pursuing drug development programs in diverse therapeutic fields, such as cancer, aging, and COVID-19.
Headquarters: USA
Sector: Pharmaceuticals, Healthcare
Founded: 2014
Website: www.insilico.com
Total Funding: $401.3 million
Latest Funding: $35 million
Latest Series: Series D
Key Themes: Healthtech
Key Investors
Insilico Medicine: key products
Latest Updates
February 2023: Insilico Medicine announced plans to commence trials of ISM3312 in China to treat COVID-19.
June 2022: Insilico Medicine started a China trial of AI-discovered novel fibrosis therapy.
September 2020: Insilico Medicine released Pandomics, an AI-powered platform for novel therapeutic target discovery.
Jasper
Company Description
Jasper is an AI content platform that allows individuals and teams to use AI to scale their content strategies for social media marketing, emails, advertising, website design, artistic illustrations, and more.
The company’s software can generate content in various languages and has a user interface that facilitates teamwork and collaboration.
Headquarters: USA
Sector: Cross-sector
Founded: 2021
Website: www.jasper.ai
Total Funding: $131 million
Latest Funding: $125 million
Latest Series: Series A
Key Themes: Artificial Intelligence & Conversational Platforms
Key Investors
Jasper: key products
Latest Updates
February 2023: Jasper released Generative AI API and a set of enterprise tools named Jasper for business.
December 2022: Jasper acquired Outwrite, a browser and platform extension to accelerate growth.
November 2022: Jasper and Cerebras Systems announced a partnership to accelerate adoption and improve the accuracy of generative AI across enterprise and consumer applications.
MOSTLY AI
Company Description
MOSTLY AI is a provider of synthetic data solutions. Its platform leverages deep learning models to generate realistic data that closely mimics the characteristics of real-world data while maintaining privacy and anonymity.
The company offers consulting services to help organizations implement their synthetic data solutions and ensure compliance with data privacy regulations such as GDPR and CCPA.
Headquarters: USA
Sector: Cross-sector, Banking, Insurance, Telecom
Founded: 2017
Website: www.mostly.ai
Total Funding: $31.1 million
Latest Funding: $25 million
Latest Series: Series B
Key Themes: Artificial Intelligence & Data Security
Key Investors
MOSTLY AI: key products
Latest Updates
November 2022: MOSTLY AI signed a three-year partnership agreement with Merkur Innovation Lab to provide AI-generated synthetic data solutions
July 2022: MOSTLY AI launched new editions of its platform, for mid-market businesses looking to speed up testing data generation through automation
Murf AI
Company Description
Murf AI is an AI-focused technology startup that provides SaaS-based text-to-speech (TTS) solutions. It offers TTS products that allow users to generate realistic-sounding voiceovers in various accents, languages, and age groups.
Apart from the standard TTS service, the startup provides voiceover Google slides and voiceover video options where users can include and sync background music with their voiceovers.
Headquarters: USA
Sector: Cross-sector, Advertising, E-Learning, Voiceover
Founded: 2020
Website: www.murf.ai
Total Funding: $11.5 million
Latest Funding: $10 million
Latest Series: Series A
Key Themes: Artificial Intelligence
Key Investors
Murf AI: key products
Latest Updates
March 2023: Murf AI has secured an SOC 2 Type 1 certification which evaluates design of security controls.
September 2022: Murf AI closes series A funding round led by Matrix Partners India, raising $10 million.
November 2021: Murf AI has released a google slide add-on that allows users to create and edit voiceovers for their presentations.
July 2021: Murf AI raises $1.5 million in a seed funding round led by Elevation Capital.
Mutiny
Company Description
Mutiny is a no-code AI platform that helps users increase website conversion rates. The platform includes features like personalization without code, flexibility to personalize any element, and inbuilt testing.
It offers solutions ranging from data and analytics to AI-powered recommendations and content writing.
Headquarters: USA
Sector: Marketing, Advertising
Founded: 2018
Website: www.mutinyhq.com
Total Funding: $71.6 million
Latest Funding: $50 million
Latest Series: Series B
Key Themes: Artificial Intelligence & Conversational platforms
Key Investors
Mutiny AI: key products
Latest Updates
October 2022: Mutiny acquired Intellipse, an AI marketing platform to accelerate the AI roadmap.
April 2022: Mutiny raised $50 million in Series B funding to automate growth engineering for all companies and turn their wasted marketing spending into revenue.
October 2021: 6sense partnered with Mutiny to serve highly personalized website experiences to target accounts, resulting in more conversions and higher ROI.
Neurala
Company Description
Neurala utilizes its proprietary AI platform to help companies automate visual inspections. Its core offering is a deep learning platform that allows machines to learn autonomously and make decisions in real time.
Neurala’s software can run on various devices, from low-power edge devices to powerful servers, enabling seamless integration of AI into existing systems. It offers a suite of AI-powered tools for industrial automation, including visual inspection and quality control systems.
Headquarters: USA
Sector: Manufacturing
Founded: 2006
Website: www.neurala.com
Total Funding: $32.1 million
Latest Funding: $12 million
Latest Series: Venture
Key Themes: Artificial Intelligence, Autonomous Vehicles
Key Investors
Neurala: key products
Latest Updates
September 2022: Neurala announced plans to launch a new anomaly HiFi feature at the VISION show in Stuttgart, Germany.
February 2022: Neurala and Azena collaborated to deliver more affordable AI for smart cameras.
January 2022: Neurala launched a detector feature that enables manufacturers to find and identify objects in a field of view to ultimately improve the quality inspection process.
Open AI
Company Description
OpenAI is a nonprofit AI research laboratory with a for-profit subsidiary, OpenAI LP. Founded by Elon Musk, Sam Altman, and others, it received a $1 billion investment from Microsoft in 2019.
The startup aims to research and deploy AI while ensuring that AI benefits the whole humanity.
OpenAI is best known for its generative models, including GPT and DALL-E 2.
Headquarters: USA
Sector: Cross-sector
Founded: 2015
Website: www.openai.com
Total Funding: $1.25 billion
Latest Funding: $250 million
Latest Series: Series A
Key Themes: Artificial Intelligence & Conversational platforms
Key Investors
OpenAI: key products
Latest Updates
March 2023: OpenAI announced the launch of GPT-4, which delivers text output based on text as well as image inputs.
March 2023: OpenAI announced that it is allowing third-party developers to integrate ChatGPT and Whisper into their apps and services with an API.
February 2023: OpenAI launched a new AI classifier to identify AI-generated content.
December 2022: OpenAI announced a dialogue-based AI chat interface based on GPT-3 'ChatGPT’.
Up next
PolyAI
Replit
Runway
Stability.ai
Synthesia
Tonic AI
Typeface
Viz.ai
WellSaid Labs