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The United States of Artificial Intelligence Startups

Startups across 42 US states are applying artificial intelligence tech across industries like marketing, healthcare, retail, and more. Funding to artificial intelligence startups is soaring. Last year, VCs invested a record $9.3B into US AI startups — more than 8x funding levels just 5 years prior ($1.1B in 2013).

In 2018, the top 3 states for AI deals were California (48% of deals), New York (12%), and Massachusetts (9%), though investors have bet on AI startups across the country. Collectively, these startups have raised over $6.5B in funding, with leading companies including Butterfly Network (Connecticut, $350M in total disclosed equity funding), Welltok (Colorado, $339M), and InsideSales.com (Utah, $264M).

KEY TAKEAWAYS

·         The most well-funded US artificial intelligence startup is Nuro, with just over $1B in disclosed equity funding, including a $940M Series B from SoftBank in February 2019. The California-based startup is developing autonomous vehicles, with a focus on last-mile delivery.

·         Nuro is followed by New York’s UiPath ($1B in disclosed equity funding) and Illinois’ Avant ($655M).

·         There are 9 unicorn startups on our map: robotic process automation vendor UiPath ($7.1B valuation), autonomous vehicles software provider Argo AI ($7B), agtech startup Indigo Agriculture ($3.5B), Nuro ($2.7B), alternative lending startup Avant ($1.9B), AI-powered predictive sales platform InsideSales.com ($1.7B), salestech startup Afiniti ($1.6B), healthcare startup Butterfly Network ($1.3B), and business sales communication platform Outreach ($1.1B).

·         16 startups on the map have raised over $100M in disclosed equity funding, including health platform Welltok ($339M), cybersecurity company StackPath ($180M), and fintech company Opera Solutions ($122M).

·         30 startups on this list have raised more than $10M in equity funding. The startup with the least funding on the list is Rhode Island’s The Innovation Scout, a SaaS platform that connects enterprises with startups, accelerators, and more. The company has raised $50K.


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