Agile Robots, a robotics startup, has raised $220 million via a Series C funding round to lead the robotics industry revolution. Led by SoftBank Vision Fund 2, the round also saw participation from firms like Chimera Investments of Royal Abu Dhabi Group, GL Ventures, Sequoia China, Linear Capital, and other strategic investors. The funding will allow Agile Robots to continue to develop and manufacture its products while expanding the scale of the company’s operations.Read More
Overjet, a leading dental AI startup, has announced the completion of a $27 million Series A funding round to expands its AI-driven dental solutions.Read More
Autonomous vehicle insurtech startup Koop Technologies has raised $2.5 million in a seed funding round led by Ubiquity Ventures. In addition to the Palo Alto-based firm, other investors who participated in the round include Bee Partners, Sure Ventures, WestWave Capital, and other strategic angel investors.Read More
San Jose-based post-acute care startup Element5 has raised $15 million in Series A funding to expand its automation solutions for the post-acute care industry.
The Series A round was led by Venture Capitalist Insight Partners and counted with participation from Maxwell Investment Partners. This round brings the total funding raised by the startup to $17.5 million after having raised $2.5 million in seed funding back in June. Jared Rosen, Vice President at Insight Partners and a new member of Element5’s board of directors, referred to the round by stating:
“Without a doubt, Element5 is changing the way that post-acute care is provided and experienced. The company’s impressive growth speaks to the market fit and need for its verticalized RPA solution. Insight is thrilled to be a part of Element5’s journey and looks forward to playing a role in the company’s continued growth.”
Element5 has developed an Automation-as-a-Service solution that allows post-acute care operators to save time on administrative work by leveraging Artificial Intelligence (AI) and Robotic Process Automation (RPA). The funding will be used by Element5 to accelerate the growth of its existing products and invest heavily in customer expansion, as well as scaling its global operations. Joe Randesi, co-founder & CEO at Element5, referred to this mission by saying:
“One of the biggest challenges in post-acute care is the insane amount of manual, repetitive tasks that teams deal with to run an operation. A myriad of factors contributes to this problem, including constant regulatory and compliance challenges. Element5 is changing the way work gets done across organizations by helping teams spend less time on mundane, repetitive tasks and more time caring for patients. We’re excited to close this round of funding as this investment will help Element5 propel a new era of post-acute care operations.”
With the industry experiencing increasing difficulties when it comes to staffing, maximizing the efficiency of bureaucratic procedures with solutions similar to those provided by the post-acute care startup, will prove fundamental to maximize the care patients are given, improving their quality of life and speedy recovery.Read More
Hologram, an IoT startup based in Chicago, has secured $65 Million in Series B financing to continue connecting all sorts of devices via cellular networks. The funding round was led by Tiger Global and counted with the participation of Bullpen Capital, NextView Ventures, and Mucker Capital. With the close of this Series B round, Hologram has now raised a total of $80.6 million to fulfill its vision of the Internet 3.0.Read More
Jerry, an AI-based car ownership startup based in Palo Alto, has raised $75 million in a Series C financing round to continue facilitating car ownership to thousands of users. The funding round, which was oversubscribed, was led by Goodwater Capital and counted with the participation of Bow Capital, Kamerra, Park West Asset Management, and Highland Capital Partners.Read More
Skyline AI, a proptech startup based in New York, has been acquired by commercial state giant Jones Lang LaSalle (JLL) to gain a competitive advantage in the industry by harvesting Artificial Intelligence (AI).Read More
Iterative Scopes, a Massachusetts-based AI Health startup, raised $30 million in Series A funding to apply the potential of AI to gastroenterology. The round was led by Obvious Ventures and counted with the participation of Eli Lilly, Johnson & Johnson Innovation, Breyer Capital, and Seae Ventures, as well as angel investors like Lee Shapiro, Zach Weinberg, and Nat Turner. The round brings the startup’s total funding to $43.5 million since its founding in 2017.Read More
Mental health startup Woebot Health announced on July 21st the raise of $90 million in a Series B funding round to boost its mental health chatbot to help deal with increasing mental health concerns around the world. With the new funding, the startup has raised a total of $114 million since its foundation in 2017.Read More
Latent AI, an adaptive AI startup developing adaptive IT and machine learning, has entered a backing agreement with Booz Allen Hamilton, one of the biggest management and information technology consulting firms in the US.While the terms of the strategic investment were not disclosed, it builds on the startup’s deep AI capabilities supporting algorithmic warfare at the edge.
The award-winning suite of software tools created by Adaptive AI has proven to be especially valuable for the National Defense Strategy at a time when cyberwarfare is on the rise.
Steve Escaravage, Senior Vice President at Booz Allen, referred to the relevance of such AI capabilities by stating:
“The National Defense Strategy calls for a more innovative, resilient military to maintain the U.S. competitive advantage, and the ability to collect, analyze and quickly act on data is at the core of that national security mission. To fully leverage a force that is interconnected and information-advantaged, defense organizations need optimized, scalable AI, and data compression at the tactical edge. Booz Allen’s investment in Latent AI will help enable our clients to implement ML models on small form factor chip-sets and into highly sought-after end-user devices, which will increase AI adoption and return on investment.”
The ability to harvest the potential of Artificial Intelligence and Machine Learning models at the tactical edge has gained attention among defense organizations, proving to be essential components when it comes to mission success.
This is the result of how the technology enhances the way AI models are deployed to improve Internet of Things applications, making them easier to adopt by the average user.
Latent AI was founded back in 2018 and counts with funding from Future Ventures, Autotech Ventures, Perot Jain, among other investors. In 2020, the startup earned the “Startup of the Year” award by IoT world and was also recognized as one of the top 100 AI companies by CB Insight.
The adaptive AI startup will use the funding to continue the development of its technology as well as expand its partnerships, which currently include the Joint AI Center, Army Futures Command, and U.S. Air Force Air Combat Command, among others.