Artificial Intelligence Start-Ups Raised Record Venture Funding In Second Quarter

By Jillian Yue | 20 July 2016 — 09:45 HKT Though deals to private artificial intelligence (AI) companies (excluding incubator and accelerator rounds) fell 10% during the second quarter to 121 transactions, aggregate funding value reached an all-time high of over US$1 billion, thanks to three mega-rounds including a US$154 million series A round in Shenzhen-based healthcare startup iCarbonX. The other two mega-rounds are a US$100 million growth equity round raised by New Jersey-based predictive analytics firm Fractal Analytics, and a US$100 million series D round raised by California-based cybersecurity unicorn Cylance, according to a new report by CB Insights. AI-focused startups in over 15 countries, including China, India, Sweden, Ukraine, France, Hong Kong, and Canada, raised equity funds last quarter. Companies that raised funding include Canada-based Bit Stew Systems,…


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