Top 10 Startups Abridge Alivecor Enveda Overjet Air Space Intelligence Perplexity AI Core Weave Glean Technologies and Databricks

With the rapid growth of technology, 2024 has proved to be the year of Artificial Intelligence (AI) in many aspects, especially in easing out the day-to-day operations of businesses both large-scale and startups and driving growth, let’s find out top 10 startups. It is no longer a tech tool primarily used by tech giants but has now become a crucial component for businesses aiming to streamline operations, drive innovation, and maintain a competitive edge. Research by Ascendix says 82% of all companies (266 million) in the world are either using or exploring the use of AI.

AI based solutions have become a major part of these ever-evolving industries like finance, healthcare, government, and many more. As of 2024, there are approximately 70,000 AI companies in the world. (Source: Ascendix.com) According to Stanford’s 2024 AI Index Report, there are approximately 10,095 AI startups across the top ten countries leading in artificial intelligence innovation. India ranks fifth globally in terms of publication of GenAI patents published between 2014 and 2023. (Source: World Intellectual Property Organization’s (WIPO) recent report.) It is also interesting to note that India has filed more than 1500 GenAI patent families for seeking patent protection. Clearly, surpassing the dominance of advanced nations like UK and Germany.

Top 10 startups of year 2024

Health – Clinical

While tech giants like OpenAI and Google have been experimenting and introducing a lot of new things with AI, LLMs, etc. There are AI startups who have proved their mettle and hold a promising future.
We have compiled a list of top 10 AI startups of 2024 that have received well-funded investments and serve a variety of industries.

Abridge

An AI-driven platform that transcribes and summarizes medical conversations. Founded by Shivdev Rao, who was honored in Modern Healthcare’s 100 most influential people of 2024. Abridge is headquartered in Pittsburg, Pennsylvania, and it has received funding of $180 million. Abridge transforms documentation for clinical conversations powered by generative AI, enhancing healthcare understanding and improving patient health consultation journey.

AliveCor

A health tech start-up that specializes in portable electrocardiogram devices and AI-driven heart health solutions. AliveCor was co-founded in 2011 by Daniel Albert, a medical doctor and former chief clinical scientist of cardiology at General Electric, along with scientists Bruce Satchwell and Kim Barnett. The company is headquartered in Mountain View, CA and has received a funding of $154.3 million from investors such as Sweetwater Capital Partners, WP Global Partners, and many others.

Enveda

Enveda Biosciences is a biotech start-up that uses AI to accelerate drug discovery, focusing on novel therapeutics in immunology and inflammation through natural product chemistry. Enveda was founded in Boulder, CO in the year 2019 by Viswa Colluru and has a funding of $359.9 million through various investors including Baillie Gifford, Cresset Partners, Dimension Capital Management, Air Street Capital, and Amino Collective.

Overjet

The Company uses FDA-cleared AI to enhance dental care and efficiency, improving diagnosis and treatment accuracy with machine learning and computer vision. Overjet’s founder Wardah Inam has been named to the Tech Power Player 50, Boston Globe’s list recognizing the most influential people. Overjet was established in Boston, United States in the year 2018 and has received a funding of $53.2 million in Series C investors named March Capital, General Catalyst.

Space

Air Space Intelligence

A technology startup that uses AI to optimize airspace operations for both commercial aviation and defense sectors. Air Space Intelligence was founded in the year 2018 by Phillip Buckendorf and Kris Dorosz and is headquartered in San Francisco, California. Air Space Intelligence has received funding of $34 million in Series B financing through various investors including Spark Capital and Bloomberg Beta.

IT Services

Perplexity AI

A generative AI-powered search engine that directly answers user queries, offering access to various AI models and real-time information for improved accuracy and context. Perplexity AI was launched in 2022 in San Francisco, California. Perplexity AI has raised $500 million, boosting its valuation to $9 billion. The company’s CEO Aravind Srinivas was credited by the CFO for creating up to 100 job opportunities. Prime Minister Narendra Modi recently held a meeting with Aravind Srinivas, CEO of Perplexity AI, to explore the advancements and potential applications of artificial intelligence (AI).

Core Weave

Core Weave is a cloud infrastructure startup that specializes in providing high-performance computing services, with a strong focus on GPU (Graphics Processing Unit) powered solutions. It was established in 2017 in Roseland, New Jersey, USA.
The company received funding of $1.1 billion at a valuation of $19 billion through investors named Hedge Fund Magnetar Capital, Blackstone, Coatue, and others. “The market demand for AI infrastructure is relentless”, said CoreWeave CEO Mike Intrator.

Glean Technologies

A tech company that offers enterprise AI and search engines, integrating with workplace tools to help employees find information, automate tasks, and optimize workflows. Glean Technologies was Founded by Arvind Jain in the year 2019 in Palo Alto, United States, Glean Technologies received a funding of $260 million at a valuation of $4.6 billion from Altimeter and DST Global. Glean’s AI Assistant and Work AI Platform helps employees around the globe in finding answers, generating content, and automatically work with AI. Arvind Jain, CEO, Glean Technologies, is championing the mantra “Work AI for All.”

Databricks

A fast-growing 2013 launched software startup valued at $62 billion, offering a unified platform for data engineering, machine learning, and analytics to enhance team collaboration. Databricks is headquartered in San Francisco, California and has received a funding of $10 billion from investors named Amazon Web Services, Microsoft, ARK Venture Fund, and Qatar Investment Authority. The company also conducts learning sessions for tech enthusiasts under Databricks Academy. It also hosted Data + AI World Tour.

Techstars, YCombinator, Google for Startups, MassChallenge, Insight Partners, Antler, Venture Kick, and SOSV are prominent names in the domain of AI funding. The heavy funding of these AI startups is a sign of the growing confidence in their potential to revolutionize industries and drive innovation.