ParagA raises $30Mn for new AI startup

- Sarvam AI - $41M (Lightspeed and Peak XV) - Mad Street Den - $67M (Avatar, Peak XV) - Wysa - $25M - Neysa Networks - $20M (Matrix Partners) - Scribble Data - $2.3M (Blume Ventures) - Expertia AI - $1.3M (Chiratae Ventures) - OnFinance - $ 1.1M (Silverneedle Ventures) - Krutrom AI - $50M (Matrix Partners)

- Premji Invest, led by billionaire Azim Premji, may invest $10-$15 million in San Francisco-based AI startup Galileo. - This investment is part of Galileo's Series B funding round, following an $18 million Series A round in November 2022. - Galileo specializes in MLOps, helping data scientists and engineers improve machine learning model accuracy. - This marks Premji Invest's fifth AI investment in the past year, including stakes in Hippocratic AI, Hugging Face, Canva, and Poolside. - Premji Invest aims to build a global portfolio in the wake of the generative AI boom. Source: [Moneycontrol](https://www.moneycontrol.com/technology/premji-invest-may-pump-in-10-15-million-in-san-francisco-based-ai-startup-galileo-article-12814083.html)

Perplexity raises $73.6M from the likes of some big names like Jeff Bezos, Naval, Balaji, NVIDIA. Just last month Mistral raised more than $400M in its second funding. AI based startups are the future I guess? https://twitter.com/AravSrinivas/status/1742918329797574709?t=MtMOF8D3AX6GodNE13pNBw&s=19

- OpenAI is aiming to raise at least $5bn at a $150bn valuation from investors like Apple, Nvidia, Microsoft, and Thrive Capital. - The San Francisco-based AI start-up is in talks with investors to fund its ambitious AI model development plans. - Thrive Capital, led by Josh Kushner, is expected to invest $1bn in this round. - The total fundraising could exceed $6.5bn, with Microsoft already having committed $13bn to OpenAI. - Despite rapid growth and $2bn in annual revenue, OpenAI remains lossmaking due to high development costs and increasing competition. Source: [Financial Times](https://www.ft.com/content/dde0855e-4543-4d3a-8ff5-e6fb3c3ff305)

Software Engineer - Cognition ($21M+) Software Engineer - Magic ($145M+) Product Manager - Version Lens ($1.6M) Data Scientist - TextQL ($4.1M) Data Analyst - Fluent ($7.5M) Chief of Staff - Mindy ($6M) Universal Employee - Ema ($25M) Financial Analyst - Finpilot ($4.5M) Financial Analyst - Rogo ($7.5M) Compliance - Norm Ai ($11.1M) Receptionist - Arini ($0.5M) Loan Officer - Casca ($3.9M) Hotel Concierge - Runnr ($1.2M) Designer - SevnAI ($0.5M) Customer Support - Sierra ($110M) Customer Support - Rasa ($70M)

- Mukund Jha, co-founder and former CTO of Dunzo, is in discussions to secure Rs 50-80 crore from Together Fund for his new generative AI startup. - This fundraising effort follows Jha's departure from the financially troubled Dunzo in October 2023, as reported by Moneycontrol. - The trend of top executives leaving established startups to launch their own ventures is gaining traction, appealing to both operators and investors. - Jha's new venture aims to merge AI and SaaS to automate quality assurance processes, according to sources familiar with the matter. - Despite Dunzo's denial of Jha's exit, insiders reveal he has stepped back from daily operations, with a formal announcement expected soon. Source: Moneycontrol

- Safe Superintelligence (SSI), co-founded by Ilya Sutskever, has secured $1 billion in funding. - The funds will be used to acquire computing power and hire top talent. - SSI is valued at $5 billion and has 10 employees split between Palo Alto and Tel Aviv. - Investors include Andreessen Horowitz, Sequoia Capital, and DST Global. - Sutskever aims to develop safe AI systems that surpass human capabilities. Source: [Reuters](https://www.reuters.com/technology/artificial-intelligence/openai-co-founder-sutskevers-new-safety-focused-ai-startup-ssi-raises-1-billion-2024-09-04/)

Great news for SaaS