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SiMa.ai secures $70M funding to introduce a multimodal GenAI chip

TechCrunch · 1y ago

SiMa.ai secures $70M funding to introduce a multimodal GenAI chip

SiMa.ai has raised a $70 million extension funding round as it prepares to bring its second-generation chipset for multimodal generative AI processing to market. The startup aims to provide its edge AI system-on-chip (SoC) to various industries like manufacturing, retail, aerospace, defense, agriculture, and healthcare. SiMa.ai's first-generation ML SoC has already been used by over 50 companies worldwide and has delivered strong performance in computer vision. The upcoming second-generation GenAI SoC will offer compatibility with various frameworks, networks, models, and sensors, supporting computer vision, transformers, and multimodal GenAI. The funding round was led by Maverick Capital, raising SiMa.ai's total funding to $270 million.

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Chip startup SiMa raises $70 million to quicken AI on cars and robots

Economic Times

Economic Times · 1y ago

Chip startup SiMa raises $70 million to quicken AI on cars and robots

Silicon Valley chip startup SiMa.ai has raised $70 million in funding from investors including Maverick Capital, Point72, and Jericho. The company aims to develop chips specifically designed to accelerate AI applications in consumer devices such as cameras and cars. SiMa.ai's processors aid in understanding and interpreting visual and auditory data, converting it into text, speech, or video content. The startup primarily focuses on inference rather than AI training, with its first chip already attracting over 50 customers. SiMa.ai is now working on a second-generation chip, which is expected to be released in Q1 2022.

HCLTech integrates GenAI platform with Google Gemini

YourStory

YourStory · 1y ago

HCLTech integrates GenAI platform with Google Gemini

HCL Technologies has announced that its GenAI platform, HCLTech AI Force, is now available on Google Cloud's Gemini models. The GenAI platform is aimed at fast-tracking the value of AI investments and has integrated Google's multimodal large language model, Gemini, to enable innovation at scale. Along with support for Gemini applications, HCLTech AI Force also provides robust security and governance measures. The platform aims to help enterprises scale their AI initiatives and drive efficiency in product engineering. HCLTech is leveraging its AI expertise to unlock value across various industries, from chip development to cloud optimization.

Chip startup Mindgrove Technologies secures $8 million in funding

Economic Times

Economic Times · 6m ago

Chip startup Mindgrove Technologies secures $8 million in funding

Indian fabless semiconductor design startup, Mindgrove Technologies, has raised $8 million in a Series A funding round led by Rocketship.vc and Speciale Invest. The company plans to use the funds to expand its workforce and enhance its engineering capabilities. Mindgrove aims to meet the growing demand in India for high-performance System-on-Chip (SoC) solutions for security and edge computing. The funding will also accelerate production and sales of its first chip, "Secure IoT," and support the development of a new chip called "Vision SoC" for vision processing applications.

Accenture secures $1.1 billion GenAI projects in Sep-Feb

Livemint

Livemint · 1y ago

Accenture secures $1.1 billion GenAI projects in Sep-Feb

IT services provider Accenture has secured generative artificial intelligence (GenAI) projects worth $600m in the past three months, bringing its total GenAI deals for the first half of the fiscal year to $1.1bn. The surge in GenAI projects follows the global attention on AI after the launch of ChatGPT, positioning it as a disruptor. In addition to its success in GenAI, Accenture's overall revenue growth has disappointed analysts for the second consecutive quarter, with revenues totalling $15.8bn in the quarter ended in February. The company has revised its full-year revenue growth forecast to between 1% and 3%.

Atlas Secures $4.5M Grant

Finsmes · 1y ago

Atlas Secures $4.5M Grant

Atlas, a Vienna-based genAI and 3D asset creation company, has received a $4.5 million grant from The Austrian Research Promotion Agency (FFG). The company plans to use the funding to enhance its R&D efforts and collaborate with game developers and brands to improve gaming experiences. Atlas offers a suite of AI products that help create custom assets for video games, virtual ecosystems, and XR experiences. The funds will be disbursed over three years based on milestone achievements. This grant follows previous funding received by Atlas for developing AI technology aligned with the European Union’s High-Level Expert Group on Trustworthy AI in 2020.

Anthropic claims its new models beat GPT-4

TechCrunch · 1y ago

Anthropic claims its new models beat GPT-4

AI startup Anthropic has unveiled its latest version of GenAI technology, Claude 3, which it claims rivals OpenAI's GPT-4 in terms of performance. Claude 3 is a family of models, including Haiku, Sonnet, and the most powerful Opus. It is the first multimodal GenAI by Anthropic and can analyze text as well as images. However, there are limitations to its image processing capabilities, as it cannot identify people and struggles with low-quality or complex images. Anthropic plans to release enhancements to the Claude 3 model family in the coming months.

Now, Xiaomi Planning To Integrate GenAI To Its Smartphone In India

Inc42 · 8m ago

Now, Xiaomi Planning To Integrate GenAI To Its Smartphone In India

Xiaomi plans to introduce GenAI user applications in its smartphones in India by the end of the financial year 2024-2025. The company's focus will be on its upper-mid range smartphones priced around INR 40K. Xiaomi recently launched the Xiaomi 14T and 14T Pro smartphones, which feature Google's Gemini suite of GenAI features.

Generative AI startups defy funding winter, raise record $10 billion in 2023

Economic Times

Economic Times · 1y ago

Generative AI startups defy funding winter, raise record $10 billion in 2023

According to a report by GlobalData, GenAI startups raised a record $10 billion in venture capital funding in 2023, showing a 110% increase compared to 2021. While overall startup funding decreased by 65% in 2023, GenAI startups defied the trend due to their breakthrough technology and widespread applicability. The US accounted for 75% of the funding, followed by Israel, Germany, France, the UK, and China. With the potential to transform industries, GenAI startups are expected to continue attracting investment in the coming years.

Google’s AI Chatbot App Gemini Ventures Into India

Inc42 · 1y ago

Google’s AI Chatbot App Gemini Ventures Into India

Google has launched its AI-powered chatbot app, Gemini, in over 150 countries and territories, including India. The Gemini app is available in English, Korean, and Japanese languages, with Google planning to expand to more languages in the future. This expansion follows Google's rebranding of its chatbot from Bard to Gemini and the launch of a standalone app for Android users. Gemini is a multimodal AI language model that can process various data formats and perform tasks like generating images and drafting emails. India's growing GenAI market makes it an attractive space for Google's entry.

Red.Health secures $20 million in Series B

Livemint

Livemint · 1y ago

Red.Health secures $20 million in Series B

Bengaluru-based healthtech startup Red.Health has raised $20m in a Series B funding round led by Singapore-based venture capital firm Jungle Ventures. The round also included participation from existing investors such as Kalaari Capital and new investors including HealthQuad, HealthX, and Alteria Capital. The funds will be used to develop technology-driven solutions for the emergency value chain and expand the company's presence from 20 to 40 cities across India, as well as introduce new product lines. Red.Health is an emergency response platform that aggregates ambulances and aims to provide quick and accessible medical assistance.

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