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Grid.ai rebrands as Lightning AI, raises $40M for AI dev tools – TechCrunch

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Lightning AI, the startup behind the open source PyTorch Lightning framework, today announced that it raised $40 million in a Series B round led by Coatue with participation from Index Ventures, Bain, the Chainsmokers' Mantis VC and First Minute Capital. CEO William Falcon told TechCrunch that the new money will be used to expand Lightning AI's 60-person team while supporting the community around PyTorch Lightning development. Lightning AI, formerly Grid.ai, is the culmination of work that began in 2018 at the New York University Computational Intelligence, Learning, Vision, and Robotics (NYU CILVR) Lab and Facebook AI Research (now Meta AI Research). After Falcon started developing PyTorch Lightning as an undergrad at Columbia in 2015, he founded Lightning AI in 2019 with Luis Capelo, the former head of data products at Forbes. While working on his PhD at NYU and Facebook AI Research, Falcon open sourced PyTorch Lightning and -- according to him -- the project quickly gained traction.


Proscia Raises $37 Million in Series C To Accelerate AI Enabled Pathology

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On June 14th Proscia raised $37 million in series C financing. The investors in this round include Highline Capital Management, Triangle Peak Partners, and Alpha Intelligence Capital, Scale Venture Partners, Hitachi Ventures, ROBO Global, Emerald Development Managers, and Razor's Edge Ventures. This financing will enable Proscia to accelerate adoption of computational pathology, scale commercial operations, and refine regulatory strategy. This investment brings Proscia's total funding to $72 million. Proscia was founded in 2014 by a team from Johns Hopkins and University of Pittsburgh.


Aidoc Raises $110 Million In Series D Expansion Round

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This week Aidoc announced that they have raised $110 million in their Series D expansion round. This round of funding was co-led by TCV and Alpha Intelligence Capital with participation from CDIB Capital. Funding raised in this round will go toward expansion of Aidoc's first of its kind AI Care Platform. The platform offers health systems a singular platform solution designed to help doctors manage the entire patient lifecycle--from diagnostic aid, to consultation, to suggested treatment paths, to patient follow-up tools. In clinical studies, this platform has proven to reduce turnaround time, shorten patient length of stay and improve patient outcomes.


AI-powered parking platform Metropolis bags $167M – TechCrunch

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Metropolis, a startup building payment infrastructure for parking facilities, today announced that it raised $167 million in a Series B round co-led by 3L Capital and Assembly Ventures with participation from Dragoneer, Eldridge Industries, Silver Lake Waterman, UP Partners and former deputy mayor of New York Dan Doctoroff. CEO Alex Israel told TechCrunch via email that the proceeds will be put toward product development, expanding the company's team and expanding into "new mobility adjacent verticals." Israel contends that parking payment infrastructure is outdated on the whole. Parking garages are stuck in the pre-internet age, he asserts -- disconnected from the digital payments ecosystem (e.g., schemes like Apple Pay and Google Pay). Meanwhile, FlashParking, Passport, AirGarage and REEF Technology (formerly ParkJockey) have raised hundreds of millions from SoftBank and others for tech-forward parking management.


Proximie raises $80M in Series C funding to scale its connected surgical care … – Auganix.org

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Proximie's technology platform combines AI, machine learning, and augmented reality to facilitate live sharing of the operating room, …


LibLab raises $42M to create custom SDKs – TechCrunch

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LibLab, which bills itself as an "SDK-as-a-service" platform for engineers, today announced that it raised $42 million in Series A funding from Insight Partners with participation from Zeev Ventures, Stepstone, Sheva, and Rainfall. Co-founder and CEO Sagiv Ofek said that the new capital will be put toward building out the company's core service while expanding LibLab's private beta. Companies release software developer kits, or SDKs, to enable developers to use their API-based services. But creating an SDK can be arduous work. Each language and operating system has sets of requirements, and there's the potential that security vulnerabilities and bugs crop up in the course of development.


Reco raises $30M to prevent sensitive data leaks – TechCrunch

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Reco, a company using AI to map a company's data sharing, today announced that it raised $30 million in a Series A round led by Insight Partners, with participation from Zeev Ventures, BoldStart, Angular Ventures, Jibe Ventures, CrewCapital and Cyber Club London. CEO Ofer Klein said the proceeds will to toward product development and supporting the company' go-to-market efforts. Reco is Klein's second venture after Kwik, an internet of things platform for "connected customer experiences." Nakash led research at the Office of the Prime Minister in Israel prior to joining Reco, while Shapira, who also worked at the Office of the Prime Minister, was the head of algorithms at heads-up display startup Guardian Optical Technologies. "The distributed workforce is getting bigger. And each of these introduces new security risk," Klein told TechCrunch in an email interview.


Tractian Raises $15 Million Series A for Its Machine Operations Platform Led by Next47

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Tractian, a machine intelligence company offering one of the most advanced industrial monitoring systems on the market, announced $15 million in Series A funding led by Next47, a global venture capital firm specializing in building category-defining B2B technology businesses. YCombinator and other previous investors also participated in the round. The new capital will allow the company to consolidate its position in the global market by extending operations from Brazil to Mexico and the U.S. and continuing rapid development of industry-leading products. "We know the industries that empower their frontline workers with best-in-class productivity tools have superpowers compared to others, and Tractian appears as the right arm of maintenance managers to manage their routines around the world" Tractian has developed streamlined hardware-software solutions designed to give maintenance technicians and decision-makers comprehensive oversight of their operations. With ease of installation and quick value generation at the heart of its customer approach, Tractian is democratizing access to sophisticated monitoring and analytics.


Keelvar Raises $24 Million to Usher in Next Generation of Intelligent Sourcing Technology

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Keelvar, a global pioneer of intelligent sourcing and automation solutions, announced it has raised $24 million in Series B funding to simplify and radically improve procurement, the world's most inefficient trillion-dollar marketplace. Keelvar's sourcing technology – which leverages AI, data science and smart sourcing bots that run on autopilot – empowers customers to make crucial supply chain decisions quickly and confidently amidst ongoing change and disruption. Costs are out of control, capacity is scarce and disruptions are everywhere. This dynamic makes it incredibly difficult for buyers and suppliers to remain agile, manage risk and strike deals" The investment – which brings Keelvar's total capital raised to $43 million – was led by 83North. Series A investors Elephant, Mosaic and Paua doubled down on their investment. Bastian Nomichacher, the co-founder and co-CEO of Celonis, also joined as a minority investor. Keelvar's Series B builds off a period of rapid growth and expansion for the company, which increased its headcount by 200% since the start of 2021 and grew ARR by 113% last year. Costs are out of control, capacity is scarce and disruptions are everywhere. This dynamic makes it incredibly difficult for buyers and suppliers to remain agile, manage risk and strike deals," said Alan Holland, founder and CEO of Keelvar.


Tidio raises $25M to automate customer service interactions – TechCrunch

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During the pandemic especially, it's become overwhelming for small- and medium-sized businesses (SMBs) to answer all of their customer service requests. A Freshworks survey found that companies experienced a 71% increase in overall contact volume between February 2020 and January 2021, and expect it to increase further. At the same time, customers -- while empathetic -- have become more demanding. The same poll shows that 68% of customer service managers have seen an increase in customer expectations. What's a company to do? Automation is one route to more manageable customer experience workloads, potentially.