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10 startups riding the wave of AI innovation

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We are excited to bring Transform 2022 back in-person July 19 and virtually July 20 - 28. Join AI and data leaders for insightful talks and exciting networking opportunities. Organizations are increasingly adopting AI-enabled technologies to address existing and emerging problems within the enterprise ecosystem, meet changing market demands and deliver business outcomes at scale. Shubhangi Vashisth, senior principal research analyst at Gartner, said that AI innovation is happening at a rapid pace. Vashisth further noted that innovations including edge AI, computer vision, decision intelligence and machine learning will have a transformational impact on the market in coming years. However, while AI-powered technologies are helping to build more agile and effective enterprise systems, they usher in new challenges. For example, Gartner notes that AI-based approaches if left unchecked can perpetuate bias, leading to issues, loss of productivity and revenue.


19-year old's startup has raised $17M Series A - ArcticStartup

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Founded in 2019, by then 17-year-old Oliver Edholm (CEO) and Anton Osika (CTO), Depict.ai is the leading solution in Scandinavia, and increases sales by 4-6%. The giants within e-commerce have been able to build huge in-house teams that leverage AI to deliver clear bottom-line impact. For instance, Amazon is reported to earn 35% of its revenue from their recommendation engine (McKinsey report). However, most e-commerce stores don't have the technical capabilities, nor the large amount of sales data to make existing recommendation systems work. To counteract this imbalance, Depict.ai


SuperOps.ai, a next-gen MSP platform for IT services, raises $14M

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Did you miss a session from the Future of Work Summit? PSA, for the uninitiated, is software that is typically used by professional services companies to help plan, manage, and measure their projects' performance through centralizing processes such as project management, time-tracking, invoicing, resource planning, business intelligence, and more -- while automating many of the manual work involved. RMM, meanwhile, is software that is typically installed locally by managed service providers (MSPs) and IT professionals so they can oversee systems and devices remotely. The problem that SuperOps.ai is ultimately trying to solve is that MSPs are facing growing complexities in demands from their customers, which is exacerbated by the multitude of different tools and platforms that they use and -- a problem that is impacting most industries -- a shortage of technical talent. Replacing a patchwork of PSA and RMM tools and plugins that were not designed with integration in mind, SuperOps.ai


Rescale Closes $105 Million in Expanded Series C Funding

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SAN FRANCISCO, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Rescale, the leading hybrid cloud high performance computing (HPC) platform enabling intelligent computing for digital R&D, today announced it has closed $105 million in an expanded Series C funding round. Existing and new investors in the company include Sam Altman, Jeff Bezos, Richard Branson, Paul Graham, Peter Thiel, Fort Ross Ventures, Gaingels, Gopher, Hitachi Ventures, Initialized Capital, Keen Venture Partners, Microsoft M12, Nautilus Venture Partners, NVIDIA, Prometheus Capital, Republic Labs, Samsung Catalyst Fund, Solasta Ventures, Yield Capital Partners and more. The valuation was not disclosed. Rescale's announcement today follows a dramatic acceleration in customer demand, investor interest and market momentum, bringing the company's total funding to date to over $155 million. With over 200 enterprise customers, and year-over-year sales growing over 2x in 2021, Rescale is accelerating the digital transformation of the computational science and engineering discipline, which has traditionally been on-premises in private data centers but is rapidly shifting to cloud.


Top 100 Artificial Intelligence Startups to Lookout for in 2021

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Sooner or later, the concept of digitization will completely take over all repetitive tasks. Today, with the help of big data, advanced technologies like automation, artificial intelligence, IoT, and machine learning are leveraging unimaginable amounts and types of information to work from. It is streamlining tedious, repetitive, and difficult tasks, which tend to slow down production and also increases the cost of operation. Owing to the evolution of technology, artificial intelligence startups are mushrooming like never before. The companies are driving the world into a new phase of digitization with a mixture of disruptive statistical methods, computational intelligence, soft computing, and traditional symbolic AI. Artificial intelligence is the combination of two amazing concepts namely science and engineering. With the infusion of disruptive trends and human intelligence, intelligent machines and intelligent computing programs are emerging. Slowly, the flare of innovations moved away from IT and entered into diverse industries including healthcare, education, finance, marketing, business, telecommunication, etc. Organizations realized that by digitizing repetitive tasks, an enterprise can cut the cost of paperwork and labor which further eliminates human error, thus boosting efficiency. Automating processes involve employing artificial intelligence solutions that can support digitization and deliver data-driven insights. Artificial intelligence startups emerge as a ready-made solution provider that supports every company's individual needs. AI startups in 2021 use big data to sophisticated AI models and leverage new solutions that could better serve customers. Analytics Insight has listed the top 100 artificial intelligence startups that are driving the next-generation development in technology. It democratizes the way investments are done by bringing sophisticated elite trading technology to laymen. Accrad is a health tech company that assists radiologists to reduce their workload with the precision of artificial intelligence. Radiologists work under different circumstances and deadlines and might find diagnosis through x-rays a bit difficult. Therefore, Accrad has come up with a futuristic solution to help with accurate and fast image diagnosis. The company has made x-ray processing more convincing and simpler. Its signature product CheXRad, a deep learning algorithm that identifies locations in the chest radiograph has the capability to predict 15 different diseases including Covid-19. Affable.ai is a data-driven influencer marketing platform where customers can find relevant and authentic influencers and manage marketing operations. By using cutting-edge computer vision algorithms on social media posts, the company delivers actionable insights about micro-influencers and their audience. Similar to how Google has sophisticated its search and promote relative ads to users, Affable.ai has also built one-click marketing at a shorter scale.


Israel's 10 'Hottest' Startups In 2021, According To WIRED

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Israel's tech and innovation ecosystem has had a monumental year so far in 2021, breaking funding records and yielding 10 new unicorns – private companies valued at $1 billion or more -- just in the first three months of the year, more than any country in Europe. Israeli high-tech activity on public markets also increased significantly this year, a trend reflected in the number of IPOs, SPAC (special-purpose acquisition company) transactions, and follow-on offerings. "Year in and year out, Tel Aviv's startup community has proven that it can achieve more than whole countries within its 52km2, thanks to investment in world-class research facilities, robust government support, and an ever-reliable influx of investment," writes WIRED UK Contributor Allyssia Alleyne in a new post this week highlighting 10 "hottest startups from Tel Aviv as part of the UK edition of the American tech publication's annual round-up (except in 2020) of Europe's 100 hottest startups. They include startups and companies from London, Amsterdam, Stockholm, Barcelona, Dublin, Helsinki, Berlin, Paris, and Lisbon. These 100 companies "are a cohort like no other," says Greg Williams, the deputy global editorial director of WIRED. "They survived an unprecedented year, embodying what entrepreneurial spirit is all about." The companies, featured in the September/October issue on newsstands this month, are not necessarily "the largest, best-known or most-funded," but they "are generating buzz" and they are organizations "people are talking about and inspired by," added Williams. The Tel Aviv entry is a mix of established companies with prominent backers, high-flying unicorns, and determined startups. Many operate in the deep tech sector. "Tel Aviv has long been known as a place where founders have built innovative companies in verticals such as fintech and cybersecurity.


The Top 100 Software Companies of 2021

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The Software Report is pleased to announce The Top 100 Software Companies of 2021. This year's awardee list is comprised of a wide range of companies from the most well-known such as Microsoft, Adobe, and Salesforce to the relatively newer but rapidly growing - Qualtrics, Atlassian, and Asana. A good number of awardees may be new names to some but that should be no surprise given software has always been an industry of startups that seemingly came out of nowhere to create and dominate a new space. Software has become the backbone of our economy. From large enterprises to small businesses, most all rely on software whether for accounting, marketing, sales, supply chain, or a myriad of other functions. Software has become the dominant industry of our time and as such, we place a significance on highlighting the best companies leading the industry forward. The following awardees were nominated and selected based on a thorough evaluation process. Among the key criteria considered were ...


Covariant raises $40 million funding to provide artificial intelligence for warehouse robots

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Robotics and artificial intelligence (AI) provider Covariant is planning to scale up its technology for automated material handling applications across multiple industries, thanks to $40 million in new venture capital funding announced today. Berkeley, California-based Covariant raised the "series B" funding in a deal that was led by Index Ventures, along with Radical Ventures and participation from existing investor Amplify Partners and others. The investment raises the firm's total funding to $67 million, and will be used to accelerate Covariant's partnerships, introduce AI Robotics to new industries, and grow its research, engineering, and commercial teams, the firm said. The latest funding follows Covariant's moves to build partnerships with industrial robotics supplier ABB and with intralogistics systems supplier Knapp, both intended to accelerate the deployment of robotic stations to customers. "As the coronavirus crisis has exposed serious frailty in the global supply chain, we're seeing more demand than ever for our AI Robotics solutions," Peter Chen, Covariant's CEO and co-founder, said in a release.


Covariant raises $40 million to bring robots to low-tech industries

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Covariant today announced the close of a $40 million series B funding round to bring its robotic control systems to additional industries and create more systems capable of picking, placing, and unloading objects in warehouses. Until now, Covariant has focused its efforts on ecommerce picking robots in highly automated warehouses. It may be best known for its work in robotic grasping, the task of picking up objects with a robotic hand or gripper. The startup -- whose founders who met at OpenAI and University of California, Berkeley -- has raised $67 million, to date. After emerging from stealth earlier this year with support from deep learning luminaries like Geoffrey Hinton, Jeff Dean, and Yann LeCun, Covariant stated that the Covariant Brain system is capable of picking and packing some 10,000 items with 99% accuracy.


UPDATE 1-German data mining software provider Celonis valued at $2.5 bln after funding round

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BERLIN, Nov 21 (Reuters) - German data mining software firm Celonis said on Thursday that it had raised $290 mln in a Series C funding round, putting a $2.5 billion valuation on the company that has been compared with enterprise application giant SAP . The funding round was led by Arena Holdings and investors included Ryan Smith, the founder of customer experience specialist Qualtrics that was bought by SAP for $8 billion a year ago. Celonis, based in Munich and New York, runs a cloud-based service that uses artificial intelligence to mine data and optimise business processes, serving customers including Siemens, 3M, Airbus and Vodafone. "We are in a market that shows enormous momentum," co-CEO and co-founder Bastian Nominacher told Reuters, adding that Celonis would invest the funds raised in its global sales and customer service and in enhancing its cloud platform. The funding round brings total investments into Celonis to $370 million.