Generative AI startup AI21 Labs lands $155M at a $1.4B valuation

One AI startup’s undoing is another’s opportunity. Case in point: today, AI21 Labs, a company developing generative AI products along the lines of OpenAI’s GPT-4 and ChatGPT, closed a $53 million extension to its previously-announced Series C funding round. The new tranche, which had participation from new investors Intel Capital and Comcast Ventures, brings AI21’s […]

Nov 21, 2023

If there was any doubt, the generative AI bubble did not burst in 2024. Investments in generative AI, which encompasses a range of AI-powered apps, tools, and services to generate text, images, videos, speech, music, and more, reached new heights last year. According to data from financial tracker PitchBook compiled for TechCrunch, generative AI companies worldwide raised $56 billion from VCs in 2024 across 885 deals. That raw cash total is a new record for the segment. It’s up 192% from 2023

Jan 3, 2025

Investors continue to pump money into generative AI tech. Case in point, Replit, an IDE startup developing a code-generating AI-powered tool called Ghostwriter, this week raised nearly $100 million ($97.4 million) at a $1.16 billion post-money valuation. Andreessen Horowitz led the round — a Series B extension — with participation from Khosla Ventures, Coatue, SV […]

Apr 27, 2023

Not everyone is convinced of generative AI’s return on investment. But many investors are, judging by the latest figures from funding tracker PitchBook. In Q3 2024, VCs invested $3.9 billion in generative AI startups across 206 deals, per PitchBook. (That’s not counting OpenAI‘s $6.6 billion round.) And $2.9 billion of that funding went to U.S.-based companies across 127 deals. Some of the biggest winners in Q3 were coding assistant Magic ($320 million in August), enterprise search provider Gle

Oct 20, 2024