Premji Invest, led by billionaire Azim Premji, may invest $10$15 million in San Franciscobased AI startup Galileo.  This investment is part of Galileo's Series B funding round, following an $18 mil...

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- 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)

Premji Invest Eyes $10-$15 Million Stake in AI Startup Galileo

Journalist

Premji Invest Eyes $10-$15 Million Stake in AI Startup Galileo- Grapevine

- Andrew Ng's AI Fund has made its first investment in India, backing AI healthcare firm Jivi.
- The booming Indian AI market is expected to grow to $22 billion by 2027, with startups accounting for 15-17% of the market.
- Jivi uses AI for diagnoses, treatments, health reports, and administrative tasks.
- The investment amount and stake bought by AI Fund were not disclosed.
- AI Fund, backed by Sequoia Capital and Softbank Group, has also invested in Podcastle and Octagon AI.

Source: [Reuters](https://www.reuters.com/technology/artificial-intelligence/andrew-ngs-fund-makes-first-india-investment-with-ai-healthcare-firm-jivi-2024-10-08/)

Andrew Ng's AI Fund Invests in Indian Healthcare Firm Jivi

Welcome to Indian Startups's Private Community

- 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)

India’s biggest Ai startups that raised more than $1M

Operations Manager

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

Perplexity raises $73.6M at $520M valuation

Site Reliability

- OpenAI has secured $6.6bn in new funding and is now valued at $150bn, the highest in Silicon Valley's history.
- The company has asked investors to avoid backing rival start-ups such as Anthropic and Elon Musk’s xAI.
- OpenAI's move to seek exclusive relationships with investors could limit rivals' access to capital and strategic partnerships.
- The company's latest funding round was led by Thrive, a venture capital firm founded by Joshua Kushner.
- OpenAI plans to use the new funding to double down on its leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems.

Source: [Financial Times](https://www.ft.com/content/66e0653e-c446-47b2-8a7f-baa54ccbfb9a)

OpenAI Secures $6.6bn Funding, Asks Investors to Avoid Rivals

ParagA raises $30Mn for new AI startup

Corporate Strategist

Welcome to Data Scientists's Private Community

Apple acquires DarwinAI

Product Manager

Which are promising Gen AI startups from India?

Project Manager

Dude wants to desperately invest in AI Indian startups...

A nice read for ai enthusiasts

Kunal having AI fomo

Senior Consultant

While there are lot of VCs coming out with their ‘expert’ outlook on 2024, let’s be real to share our own predictions. Idea is to share and learn and not just mudsling.

Let me go first with few of my own

1. Neobanking will go belly up - it’s really hard to make money in just Savings account led neobanking I believe. With lending increasingly difficult, I think we will see likes of Jupiter going belly up

2. Gold mine of climate tech - climate tech will become more mainstream stream (similar to content and community in 2021, D2C in 2022 and SaaS in 2023)

What are yours?

What are your predictions for 2024 Indian Startup ecosystem?

Founder

I'll go first : 

1. Clickup
2. whop
3. Even healthcare 
4. Gumroad 
5.  Polymarket 


And mention the reason also, if possible.

Time to discover some less-known startups 🍿

What are some cool startups (globally) you would love to work with?

Byjus for its  honest business environment , compassionate work culture

Consultant

What in the hell is happening

Product Marketing Manager

- AI search engine **Perplexity** is reportedly in talks to raise around **$500 million** at an **$8 billion** valuation.
- This would more than double its previous valuation of $3 billion from a fundraising round with **SoftBank**.
- Perplexity currently handles about **15 million queries** daily and generates approximately **$50 million** in annualized revenue.
- Despite accusations of unauthorized web scraping and plagiarism, CEO **Aravind Srinivas** insists on working with publishers.
- The fundraising talks follow **OpenAI's** recent $6.6 billion round at a $157 billion valuation.

Source: [Techcrunch](https://techcrunch.com/2024/10/20/perplexity-is-reportedly-looking-to-fundraise-at-an-8b-valuation/)

AI Search Engine Perplexity Seeks $500M Funding at $8B Valuation

Welcome to Software Engineers's Private Community

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)
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Receptionist - Arini ($0.5M)
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Designer - SevnAI ($0.5M)
Customer Support - Sierra ($110M)
Customer Support - Rasa ($70M)

List of  AI startups who raised funds in just 2024 focused on automating a particular white collar job

Software Engineer

- 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/)

OpenAI Co-founder Sutskever's New AI Startup SSI Raises $1 Billion

In other unrelated news, Nvidia order book grew by $800 million.

Program Manager

- InMobi, backed by SoftBank, has raised $100 million in debt financing to enhance its AI capabilities and fund AI-focused acquisitions.
- The financing was led by MARS Growth Capital, a joint venture between MUFG and Liquidity Group.
- CEO Naveen Tewari emphasized AI's role in revolutionizing ad engagement and outcomes for consumers, advertisers, and publishers.
- InMobi operates two core businesses: InMobi Advertising and Glance, an AI-powered content discovery platform.
- Glance, with over 300 million users, aims to expand globally, supported by investments from Jio Platforms, Google, and Mithril Capital. 

 Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/inmobi-secures-100-million-debt-to-fund-its-ai-efforts-acquisitions-12819183.html)

InMobi Secures $100 Million Debt to Fuel AI Ambitions and Acquisitions

willl try my best to be honest, ask me anything

AMA - I work at a VC fund

Analyst

Legend says Sama refused to learn DSA for Microsoft Interview after getting inspired by some Indian LinkedIn Influencers.

Can someone confirm if Sama was asked DSA in his Microsoft interview ?

He tried joining google, but couldn't invert a binary tree 🌲

Software Developer

- Investors are making an unprecedented bet on OpenAI, valuing the company at $150bn.
- Thrive Capital has already invested at least $1bn, with Apple, Nvidia, and Microsoft in talks to join.
- Despite the scale, some top investors like Andreessen Horowitz and Sequoia Capital are sitting out.
- OpenAI's revenues have surged to $3.6bn annually, but it still burns through over $5bn a year.
- The company faces fierce competition from Google and Meta, and must manage its transition from a start-up to a corporate giant. 

 Source: [Financial Times](https://www.ft.com/content/a8f9bd05-0999-415d-af86-c73e79ad5733)

Premji Invest Eyes $10-$15 Million Stake in AI Startup Galileo

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