Top 10 Artificial Intelligence Funding and Investments of 2020
Despite slow VC deals as a result of COVID-19, interest in AI funding saw a sustained momentum in 2020.
The COVID-19 pandemic has undeniably impacted businesses of all sizes and types. It has instigated companies to explore and implement innovative approaches to survive the new normal. Despite the pandemic overwhelmed the industry, enterprises’ spending on artificial intelligence continues seeing an upward trend. Many companies have accelerated their IT spending, especially for AI technology, to keep their business going. The year 2020 has been an exciting year in terms of VC deals in growing crops of startups that leverage AI and other advanced technologies.
Here’s a look at the top 10 artificial intelligence funding and investments of 2020.
Exo Amount Funded: US $40 million
Transaction Type: Series B
Lead Investor(s): Action Potential Venture Capital, Fiscus Ventures, Reimagined Ventures
Medical device start-up Exo that develops handheld ultrasound devices and AI for imaging and therapeutic applications, announced it closed US$40 million on 20th August, in additional Series B funding round for its AI-driven sonography technology. Exo raised its initial Series B funding of US$35 million in August 2019. According to the company, the new fund will enable for research and development of its piezoelectric micromachined ultrasound transducers technology and AI-driven software.