OpenAI, based in San Francisco, raised the most funds at $10.3 billion, followed by London-based Urbanic at $150 million. Other companies like Loop, Leonardo AI, and Syrup Tech raised $35 million, $31 million, and $17.5 million respectively. Meanwhile, Zelig, Myth AI, and Arvist secured $15 million, $1.3 million, and $1.1 million respectively. These funds will be used for various purposes, including product development, expansion, and hiring.
Key takeaways:
- Artificial Intelligence (AI) startups have attracted significant investment in 2023, with one in every four dollars invested in American startups being related to AI.
- Companies in the fashion, apparel, and logistics industries are increasingly adopting AI and partnering with startups that focus on AI solutions.
- Eight AI startups, including OpenAI, Urbanic, Loop, Leonardo AI, Syrup Tech, Zelig, Myth AI, and Arvist, have received substantial funding in 2023.
- These startups are using AI in various ways, such as generative art tools, inventory optimization, virtual try-on technology, and solutions for supply chain inefficiencies.