DNV’s Post

𝟮𝟬𝟮𝟭.𝗔𝗜 𝘀𝗲𝗰𝘂𝗿𝗲𝘀 𝟯.𝟲𝗠 𝗘𝘂𝗿𝗼 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗹𝗲𝗱 𝗯𝘆 𝗗𝗡𝗩 𝗩𝗲𝗻𝘁𝘂𝗿𝗲𝘀 We are thrilled to announce that DNV Ventures is investing in 2021.AI - a pioneering Danish startup specializing in reliable AI solutions. With the recent implementation of the EU AI Act, the demand for trustworthy AI solutions is set to increase significantly. Therefore, it is particularly interesting that DNV Venture now is investing in a company that is already leading in providing a solution to this, says Kaare Helle, Venture Director in DNV Ventures. By combining DNV’s extensive experience in assurance with 2021.AI’s GRACE AI platform, the partnership aims to provide a comprehensive solution to these needs. "𝘐𝘵 𝘪𝘴 𝘦𝘴𝘵𝘪𝘮𝘢𝘵𝘦𝘥 𝘵𝘩𝘢𝘵 𝘶𝘱 𝘵𝘰 15% 𝘰𝘧 𝘢𝘭𝘭 𝘈𝘐 𝘮𝘰𝘥𝘦𝘭𝘴 𝘪𝘴 𝘰𝘳 𝘸𝘪𝘭𝘭 𝘣𝘦 𝘪𝘮𝘱𝘭𝘦𝘮𝘦𝘯𝘵𝘦𝘥 𝘪𝘯 𝘤𝘳𝘪𝘵𝘪𝘤𝘢𝘭 𝘴𝘦𝘤𝘵𝘰𝘳𝘴 𝘴𝘶𝘤𝘩 𝘢𝘴 𝘩𝘦𝘢𝘭𝘵𝘩𝘤𝘢𝘳𝘦, 𝘦𝘯𝘦𝘳𝘨𝘺, 𝘢𝘯𝘥 𝘵𝘳𝘢𝘯𝘴𝘱𝘰𝘳𝘵 𝘰𝘷𝘦𝘳 𝘵𝘩𝘦 𝘤𝘰𝘮𝘪𝘯𝘨 𝘺𝘦𝘢𝘳𝘴. 𝘛𝘰 𝘦𝘯𝘴𝘶𝘳𝘦 𝘈𝘐 𝘵𝘦𝘤𝘩𝘯𝘰𝘭𝘰𝘨𝘺 𝘪𝘴 𝘴𝘤𝘢𝘭𝘦𝘥 𝘴𝘢𝘧𝘦𝘭𝘺, 𝘵𝘳𝘶𝘴𝘵 𝘪𝘯 𝘈𝘐 𝘪𝘴 𝘦𝘴𝘴𝘦𝘯𝘵𝘪𝘢𝘭. 𝘞𝘦 𝘩𝘢𝘷𝘦 𝘴𝘤𝘳𝘦𝘦𝘯𝘦𝘥 𝘮𝘰𝘳𝘦 𝘵𝘩𝘢𝘯 300 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴 𝘪𝘯 𝘵𝘩𝘪𝘴 𝘴𝘱𝘢𝘤𝘦 𝘢𝘯𝘥 𝘩𝘢𝘷𝘦 𝘧𝘰𝘭𝘭𝘰𝘸𝘦𝘥 2021.𝘈𝘐 𝘧𝘰𝘳 𝘢 𝘸𝘩𝘪𝘭𝘦. 𝘛𝘩𝘦 𝘱𝘳𝘰𝘨𝘳𝘦𝘴𝘴 𝘵𝘩𝘦𝘺 𝘩𝘢𝘷𝘦 𝘮𝘢𝘥𝘦 𝘪𝘯 𝘦𝘴𝘵𝘢𝘣𝘭𝘪𝘴𝘩𝘪𝘯𝘨 𝘵𝘩𝘦𝘮𝘴𝘦𝘭𝘷𝘦𝘴 𝘢𝘴 𝘢 𝘭𝘦𝘢𝘥𝘦𝘳 𝘪𝘯 𝘥𝘦𝘭𝘪𝘷𝘦𝘳𝘪𝘯𝘨 𝘙𝘦𝘴𝘱𝘰𝘯𝘴𝘪𝘣𝘭𝘦 𝘈𝘐 𝘴𝘰𝘭𝘶𝘵𝘪𝘰𝘯𝘴 𝘪𝘴 𝘪𝘮𝘱𝘳𝘦𝘴𝘴𝘪𝘷𝘦,” - said Nermina Ek, Investment Director at DNV Ventures. This investment will support 2021.AIs growth as they prepare for a larger funding round in Q1 2025. Mikael Munck, CEO and Founder of 2021.AI, shares his excitement: “𝘞𝘦 𝘢𝘳𝘦 𝘥𝘦𝘭𝘪𝘨𝘩𝘵𝘦𝘥 𝘵𝘰 𝘸𝘦𝘭𝘤𝘰𝘮𝘦 𝘋𝘕𝘝 𝘝𝘦𝘯𝘵𝘶𝘳𝘦𝘴 𝘢𝘴 𝘢𝘯 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳. 𝘋𝘕𝘝 𝘪𝘴 𝘵𝘩𝘦 𝘪𝘥𝘦𝘢𝘭 𝘱𝘢𝘳𝘵𝘯𝘦𝘳 𝘧𝘰𝘳 2021.𝘈𝘐, 𝘨𝘪𝘷𝘦𝘯 𝘰𝘶𝘳 𝘴𝘩𝘢𝘳𝘦𝘥 𝘤𝘰𝘮𝘮𝘪𝘵𝘮𝘦𝘯𝘵 𝘵𝘰 𝘣𝘶𝘪𝘭𝘥𝘪𝘯𝘨 𝘵𝘳𝘶𝘴𝘵 𝘪𝘯 𝘈𝘐. 𝘞𝘪𝘵𝘩 𝘋𝘕𝘝’𝘴 𝘦𝘹𝘱𝘦𝘳𝘵𝘪𝘴𝘦 𝘢𝘯𝘥 𝘯𝘦𝘵𝘸𝘰𝘳𝘬, 𝘸𝘦 𝘸𝘪𝘭𝘭 𝘦𝘯𝘩𝘢𝘯𝘤𝘦 𝘰𝘶𝘳 𝘱𝘳𝘰𝘥𝘶𝘤𝘵 𝘰𝘧𝘧𝘦𝘳𝘪𝘯𝘨𝘴 𝘴𝘪𝘨𝘯𝘪𝘧𝘪𝘤𝘢𝘯𝘵𝘭𝘺.”

Radical Ventures raises nearly $800mn to focus on AI Summary: Radical Ventures raised nearly $800 million for its third institutional fund, making it the largest fund focused exclusively on #AI growth-stage #startups. Investor Highlights: Key investors include Eric Schmidt’s family office, Fei-Fei Li, Geoffrey Hinton, and Canadian pension funds like CPP Investments Fund Focus: The new #fund will invest in growth-stage AI companies, following previous raises of $550 million in 2023 and $350 million in 2019. Market Context: Despite concerns about #AI investment returns, Radical’s co-founder is optimistic about the sector’s potential. Track Record: Radical Ventures has backed successful AI companies like Cohere, Covariant, and Genesis Therapeutics. AI Investment Growth: AI investments have contributed to a significant increase in US venture funding, reaching $55.6 billion in Q2 2024. For more information: https://lnkd.in/dbWv9kYm

VCLink's Daily Round Report 2: 9. Ran Harpaz’s Lettuce Financial, an automated accounting and tax solution provider, has raised $15 million in Series A funding led by Zeev Ventures. https://lnkd.in/eSkWBKVG 10. Christo Liebenberg’s Laser Isotope Separation Technologies (LIS Technologies Inc.), an advanced laser technology developer, has raised $11.88 million in seed funding. 28 Ventures participated in the round. https://lnkd.in/e7wcbWKV 11. Karl Moritz Hermann, Marc G. Bellemare, and Richard Schlegel, Ph.D.’s Reliant AI, a generative AI-powered data analytics provider, has raised $11.3 million in seed funding from Tola Capital and Inovia Capital. https://lnkd.in/eh_6w8ET 12. Fouad AlFarhan and Hatem Kameli’s resal, a Saudi Arabia-based e-gifting platform, has raised $9 million in Series A funding from a consortium of investors, including Derayah Ventures Fund and VentureSouq. https://lnkd.in/erjY735z 13. Max Kanter’s Grid Status, a grid data and analytics provider, has raised $8 million in funding for its ongoing operations. The round was led by Energize Capital, with participation from Nat Friedman, Daniel Gross, and Rayburn Electric Cooperative. https://lnkd.in/eHuQCb6C 14. Akshay Shekhar’s Kazam, an e-Mobility solutions provider, has raised $8 million in Series A3 funding led by Vertex Ventures SE Asia & India. Avaana Capital, Alteria Capital, and others also participated in the round. https://lnkd.in/e7d_teTQ 15. Paul Kimani 🇰🇪🌍's Workpay, an HR service provider, has raised $5 million in Series A funding led by Norrsken22, with participation from Visa and Plug N Play. Y Combinator, Saviu Ventures, Axian Group, Verod-Kepple Africa Ventures, and Acadian Ventures also participated in the round. https://lnkd.in/ej8Up6ed 16. Bilâl Tahris’s FLOWIT AG, a digital coaching platform, has raised €4.2 million (approx. $4.6 million) in Seed funding co-led by Vi Partners and Alstin Capital. https://lnkd.in/eYTrt278

"Saudi Arabia is second with six VC funds – Raed Ventures, Saudi Aramco's Wa'ed Ventures, Vision Ventures, Impact46, Seedra Ventures and Oqal – with a total of 67 investments. The UAE has two: Abu Dhabi's Shorooq Partners and Dubai's Global Ventures, with a combined 16 investments. The region falls behind others like Asia which has 786 and Europe with 1,227 VC funds. The US is the runaway leader with 2,298 – with the top seven VCs alone surpassing the Middle East's total. Data on how much these VCs are investing in AI is not clear, yet looking at the regional number of AI start-ups serves as a telling indicator of the sector's growth. There are 1,843 AI start-ups in the Middle East, with a total of 1,773 funding rounds that have raised $12.9 billion, data from industry tracker Crunchbase shows. In comparison, the whole of Europe has 9,994 AI start-ups with 10,598 funding rounds attracting $37.8 billion, according to the San Francisco-based start-up data platform. The top 10,000 AI start-ups in Asia have conducted 8,989 rounds that have raised $105.3 billion, while those in the US have had 17,320 rounds attracting $211.5 billion, it said. However, according to industry tracker Tracxn, there are an estimated 23,209 AI start-ups in the US."

We are excited to announce that Bessemer Venture Partners and IBM Ventures have made strategic investments in Rohirrim! This investment will allow Rohirrim to help more companies harness the power of secure generative AI to save time and money on complex, document-intensive processes, like RFP responses. Bessemer Venture Partners and IBM Ventures, along with Insight Partners who previously invested in Rohirrim back in December, share the conviction that Rohirrim is revolutionizing how businesses respond to proposals. The efficiencies gained from Rohirrim’s RohanRFP platform can significantly impact an organization’s growth. "Rohirrim’s technology has the potential to provide meaningful business growth to organizations, and we believe they have the team, technology, and infrastructure in place to make it happen,” said Aia Sarycheva, Investor at Bessemer Venture Partners. “As an AI native platform, Rohirrim is uniquely poised to deliver on early promises of generative AI while protecting an organization’s proprietary data - aligning to IBM’s vision for helping organizations harness the power of AI with safety and responsibility at the forefront," said Tom Whiteaker, Partner at IBM Ventures. Rohirrim’s secure, state-of-the-art RohanRFP platform uses an organization’s own data to automatically produce content for RFPs, eliminating the need for searching and data curation, and saving countless hours in the process. Read the full press release: https://lnkd.in/gGBvMEuf For more information about Rohirrim and our industry-leading platform, RohanRFP, please visit our website www.rohirrim.ai. #AI #GenAI #Technology #Innovation #MachineLearning #EmergingTech #AIInnovators #LeadersinAI #Startups #VentureCapital

Thrilled to share that Steve Brotman, our Managing Partner at Alpha Partners, has been featured in a recent article by PYMNTS, highlighting the transformative role of Artificial Intelligence in venture capital. Steve notes AI is not just a sector for investment but a pivotal tool for enhancing strategic decision-making capabilities. By leveraging AI, VCs are able to sift through massive data sets to uncover and act on investment opportunities with a level of speed and precision that was once unimaginable. "With AI, we can analyze market trends, startup performance metrics, and other critical data points at a scale and speed that’s simply unattainable for a team of human analysts alone,” Steve Brotman told PYMNTS. This approach not only streamlines our processes but significantly enriches our insights into market trends and startup potential, fundamentally changing the game in venture capital. Steve's perspective is a testament to Alpha Partners' commitment to innovation and efficiency, utilizing cutting-edge technology to redefine the landscape of venture capital investment. As we look to the future, the integration of AI into our operations is a bright beacon of progress, promising a new era of informed, strategic investment that stands to benefit startups and investors alike. A big thank you to PYMNTS for the quote and to Steve for his visionary leadership. #VentureCapital #ArtificialIntelligence #Innovation #Leadership #AlphaPartners https://lnkd.in/eaByuzYW

#Radical Ventures Fuels AI Growth with Record Fund! Toronto-based Radical Ventures has raised nearly $800 million for its third institutional fund, the largest of its kind dedicated to AI growth-stage startups. This new fund positions Radical at the forefront of AI investment, building on its previous successes, including early backing of Cohere, now valued at $5.5 billion. Among Radical's distinguished investors are Eric Schmidt, Fei-Fei Li, and Geoffrey Hinton, alongside Canadian pension giants like CPP Investments. In recent years, AI has sparked a surge in venture capital interest, with US funding in the sector reaching $55.6 billion last quarter—a 47% increase from prior periods. Despite concerns about the AI "hype cycle," Radical co-founder Jordan Jacobs sees a promising future for AI companies transitioning from early-stage to growth. Radical's strategic vision began in 2017, spearheaded by Jacobs and Tomi Poutanen. Their foresight into AI's transformative potential was inspired by the seminal "Attention Is All You Need" paper. Today, Radical continues to support groundbreaking AI startups, aiming to drive a new industrial revolution. Are we on the brink of an AI revolution reshaping industries? What are your thoughts? #RadicalVentures #AIRevolution #VentureCapital #Innovation #Saasverse

The leadership transition at the 𝐎𝐩𝐞𝐧𝐀𝐈 𝐒𝐭𝐚𝐫𝐭𝐮𝐩 fund marks a new chapter in AI investment! 𝐎𝐩𝐞𝐧𝐀𝐈 announces a strategic shift in its 𝐒𝐭𝐚𝐫𝐭𝐮𝐩 𝐅𝐮𝐧𝐝'𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩, with Sam Altman passing the torch to Ian Hathaway. This transition underscores OpenAI's dedication to nurturing groundbreaking AI initiatives. Hathaway, who has been instrumental in managing the fund and leading investments in transformative startups, is poised to steer the fund towards greater achievements. With $𝟑𝟐𝟓 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 in assets and backing innovative companies across various sectors, the fund's impact on the AI landscape continues to expand. Stay tuned with us for the latest updates in technology. #openai #aiinvestments #trendingnews #techupdates

Where Active AI Investor Felicis Is Placing Its Bets #startup  #fundraising  #angelinvestor  #investments  #VentureCapital  #vc #Entrepreneurship  #venturefunding  #investing #TechNews #Innovation #technology  https://lnkd.in/dScsNeBN

VCLink's Daily Round Report (Part 2): 9. Tasso Roumeliotis’s Numa, an AI-powered customer service automation provider for the automotive industry, has raised $32 million in Series B funding led by Touring Capital and Mitsui. Gradient, Google’s AI-focused fund, also participated in the round. https://lnkd.in/dzCtkwJq 10. Rodrigo García González and Pierre-Yves Paslier’s Notpla, a sustainable packaging company focused on compostable seaweed-based materials, has raised £20 million ($23.9 million) in Series A funding from UB Forest Industry Green Growth Fund. The company is scaling its operations in North America. https://lnkd.in/dK6N63Wt 11. Paul Humphrey's BMLL, a data analytics company serving global market participants, has raised $21 million in Series B from Optiver. Existing investors like FactSet, Nasdaq Ventures, and IQ Capital also participated in the round. https://lnkd.in/d6zdQY8e 12. Ron G.'s xtype.io, a multi-instance management company for ServiceNow's platform, has raised $21 million in a Series A round led by Norwest Venture Partners, with participation from ServiceNow Ventures and other returning investors. The company plans to use the funds for global expansion. https://lnkd.in/dWQNsBeW 13. Robert Lauritzen's CEREBRIU, a healthtech company, has raised €17.4 million ($17.9 million) in Series A funding from North Ventures, with EIFO and Sagitta Ventures also participating. The company will use the investment to scale its AI-driven MRI workflow optimization solution, Apollo. https://lnkd.in/dbgsaxdt 14. SecondLive, an AI and XR social platform, has raised $12 million in a funding round with participation from Cypher Capital Group. The funds will help the company innovate further in the virtual space and Web3. https://lnkd.in/dKkBvSks 15. Henal Patel's DocJuris, an AI-powered contract management leader, has raised $8 million in Series A funding from Silverton Partners. https://lnkd.in/dt_n4Psb 16. AI startup Ameba, led by Cedrik Hoffmann and Craig Massie, has raised $7.1 million in seed funding to revolutionize retail supply chains using generative AI, led by Hedosophia. Visionaries Club and Anamcara also participated in the round. https://lnkd.in/d7AGa9US