What’s more, The Future of Jobs Report by the World Economic Forum suggests that 85 million jobs will be replaced by machines with AI by 2025, and at the same time, AI will create 97 million jobs (for which workers don’t have the skills yet).
Some of these changes already come from the big tech. But the rest is yet to come. Where will it come from? Well, from the AI startups of course!
Among the many emerging ventures, a select few stand out as pioneers, ready to revolutionize the way we live, work, and interact with technology.
With no further ado, these are the top AI startups to look out for in 2024 and beyond.
1. ElevenLabs [AI voice generator]
Headquartered in: NY, USA
Company size: 11-50
Funding round: Series B
Total funding raised: 101M
Last valuation: $1.1B
ElevenLabs is at the forefront of voice synthesis, crafting eerily lifelike digital voices that are shaking up the audio content scene. Their platform is a game-changer for creators in need of authentic-sounding voices, from audiobooks to virtual assistants. With cutting-edge AI, ElevenLabs is blurring the lines between human and machine, offering voices that capture the subtlest of human expressions. It’s not just about sounding real; it’s about delivering personalized voice experiences that resonate across various digital mediums.
The buzz around ElevenLabs is well-deserved. They’re not just creating voices; they’re pioneering a new era of digital communication. The entertainment and educational spheres are already tapping into this goldmine, leveraging ElevenLabs’ tech to captivate audiences with unparalleled auditory experiences. This startup is leading the voice synthesis revolution, fueled by innovation and a keen understanding of the digital landscape’s evolving demands.
2. Krutrim [AI computing]
Headquartered in: Bangalore, India
Company size: 101-250
Funding round: Series A
Total funding raised: 74M
Last valuation: $1B
Thanks to Krutrim’s platform and its machine learning algorithm, businesses can produce, refine, and personalize content at scale, addressing the growing demand for dynamic and tailored digital content. Krutrim’s technology is particularly useful for marketers, content creators, and eCommerce platforms.
Krutrim’s success can be attributed to its focus on improving content efficiency and effectiveness, enabling users to generate high-quality, SEO-friendly content quickly. By automating and optimizing the content creation process, Krutrim helps its clients save time and resources, leading to improved content strategies and better business outcomes.
3. DataSnipper [intelligent automation platform]
Headquartered in: Amsterdam, NL
Company size: 101-250
Funding round: Series B
Total funding raised: $100M
Last valuation: $1B
DataSnipper streamlines the process of data analysis and documentation for professionals, particularly in the finance and accounting sectors. Their software assists users in extracting and validating critical information from various data sources, significantly reducing manual effort and the risk of errors.
By addressing a niche but crucial need in the financial industry, where data accuracy and integrity are non-negotiable, DataSnipper managed to make a name for itself a strong reputation and user base within the industry. What’s more, its ability to integrate seamlessly with existing workflows and provide immediate value through time and cost savings has been key to DataSnipper’s growth and adoption.
4. OpenAI [AGI, ChatGPT bot]
Year founded: 2015
Headquartered in: San Francisco, USA
Company size: 501-1000
Funding round: Secondary market
Total funding raised: 11.3B
Last valuation: $100B
Possibly the most popular AI startup right now, OpenAI has made significant contributions to the field of artificial intelligence. It’s mostly known for developing highly advanced AI models like GPT (Generative Pretrained Transformer) and DALL-E, which have pushed the boundaries of what’s possible in natural language understanding and generation, as well as in AI-generated imagery.
OpenAI has seen widespread success and recognition, not just within the academic and research communities but also among businesses and the general public. Their models have been integrated into a variety of applications, from automated content creation tools to sophisticated conversational agents, showcasing the versatility and power of their AI technologies.
💡 Read: 20 ChatGPT Prompts for Your Digital Marketing
5. Typeface [personalized AI content for work]
Headquartered in: San Francisco, USA
Company size: 11-50
Funding round: Series B
Total funding raised: 165M
Last valuation: $1B
Typeface’s platform helps users generate, edit, and personalize written content across various formats and channels. Its AI technology is particularly beneficial for content marketing, social media management, and customer communication, where consistent and high-quality written content is key.
Typeface has managed to simplify and enhance the content creation process, allowing users to produce more content in less time while ensuring it aligns with their brand’s identity. Its growth reflects the increasing demand for AI tools that can support creative processes and improve productivity in content-related tasks.
6. Mistral AI [open-weight models]
Headquartered in: Paris, France
Company size: 11-50
Funding round: Series A
Total funding raised: $490M
Last valuation: $2B
Mistral AI optimizes the supply chain and logistics operations. Their platform uses advanced algorithms to predict demand, optimize inventory levels, and enhance delivery routes, helping businesses reduce costs and improve efficiency.
Mistral AI’s technology is particularly relevant in today’s fast-paced market, where supply chain agility and reliability are key competitive advantages. The startup’s solutions have been well-received by the logistics, retail, and manufacturing sectors, demonstrating the broad applicability and value of their technology in improving supply chain dynamics.
7. Innovaccer [health data platform]
Headquartered in: San Francisco, USA
Company size: 1001-5000
Funding round: Series E
Total funding raised: $379.1M
Last valuation: $3.2B
Innovaccer is a healthcare technology startup that specializes in data activation and healthcare management solutions. Their platform aims to streamline healthcare operations, improve patient outcomes, and reduce costs through effective data integration and actionable insights.
The company has achieved significant success by addressing the critical need for data-driven decision-making in healthcare. Their contributions to healthcare IT have earned them a strong client base, including leading healthcare organizations. They have also positioned Innovaccer as a frontrunner in the drive towards data-driven, patient-centric healthcare.
8. Inflection AI [machine learning]
Headquartered in: Palo Alto, USA
Company size: 11-50
Funding round: Venture (series unknown)
Total funding raised: $1.5B
Last valuation: $4B
Inflection AI aims to bridge the gap between complex AI capabilities and everyday user needs, making advanced AI more usable and beneficial in daily tasks. The company focuses on developing AI models that understand and respond to natural human communication.
The startup has gained recognition for its innovative approach to AI, particularly in how it applies to enhancing user experiences across various applications, from customer service bots to personal assistants. Their work in natural language processing and machine learning has the potential to significantly impact how people interact with technology, making it more responsive and user-friendly.
9. Character.ai [conversatinal & language models]
Headquartered in: Menlo Park, USA
Company size: 11-50
Funding round: Series A
Total funding raised: $150M
Last valuation: $1B
Character.ai is an innovative startup that specializes in creating AI-driven virtual characters and conversational agents. Their platform allows users to interact with a wide range of AI-generated characters, each with their own unique personalities and backgrounds.
The company has found success by tapping into the growing interest in virtual companionship and interactive entertainment. Character.ai’s virtual characters appeal to a wide audience, from those looking for casual conversation to those interested in immersive storytelling experiences.
10. Snorkel AI [data-centric AI platform]
Headquartered in: Redwood City, USA
Company size: 101-250
Funding round: Venture (series unknown)
Total funding raised: $135.3M
Last valuation: $1B
Snorkel AI is a startup focused on revolutionizing the way machine learning models are trained. Their platform, Snorkel Flow, enables users to build and manage AI models more efficiently by using a technique called programmatic labeling.
Snorkel AI’s innovative methodology addresses one of the key bottlenecks in AI development: the need for vast amounts of labeled data. By automating the labeling process, Snorkel AI has empowered organizations to accelerate their AI initiatives and achieve better model performance with less data.
11. ThoughtSpot [business intelligence platform]
Headquartered in: San Francisco, USA
Company size: 501-1000
Funding round: Series F
Total funding raised: $663.7M
Last valuation: $4.5B
ThoughtSpot is a business intelligence and big data analytics startup that aims to make business data-driven decision-making accessible. They allow non-technical users to gain insights and make informed decisions without relying on data experts.
ThoughtSpot has been successful in transforming how companies interact with their data, making analytics a part of everyday business operations. Their user-friendly interface and powerful backend have made it possible for a wide range of users, from executives to frontline employees, to engage with data and analytics directly.
12. Socure [predictive analytics platform]
Headquartered in: Incline Village, USA
Company size: 501-1000
Funding round: Debt financing
Total funding raised: $744.4M
Last valuation: $4.5B
Socure is a leading startup in the digital identity verification space, providing AI-powered solutions to prevent fraud and ensure compliance across various industries, including financial services, eCommerce, and healthcare. Their platform leverages machine learning, biometrics, and a wide array of data sources to verify identities in real time, reducing the risk of identity theft and fraud while streamlining customer onboarding processes.
Socure’s success is driven by its ability to offer highly accurate and efficient identity verification services, which are critical in today’s digital-first world. The company’s technology addresses the growing challenge of digital identity fraud, providing businesses with the tools they need to build trust and security online.
13. Jasper [AI writing tool]
Headquartered in: Montréal, Canada
Company size: 101-250
Funding round: Series A
Total funding raised: $131M
Last valuation: $1.5B
Jasper is an AI startup that specializes in content creation and marketing automation. Their platform uses advanced AI algorithms to help businesses generate high-quality written content, including blog posts, social media updates, and marketing copy.
The company’s success can be attributed to its focus on enhancing the content creation process through AI. By offering a tool that streamlines content generation and allows for scalability, Jasper has become a valuable asset for marketers, bloggers, and businesses looking to maintain a strong online presence.
14. Cerebras Systems [AI training]
Headquartered in: San Francisco, USA
Company size: 251-500
Funding round: Series F
Total funding raised: $715M
Last valuation: $1-$10B
Cerebras Systems is a pioneering AI hardware startup known for developing the world’s largest and most powerful AI processor, the Wafer Scale Engine (WSE). Cerebras’ technology is particularly beneficial for research institutions, pharmaceutical companies, and any organization working on complex AI problems that require substantial computational resources.
The success of Cerebras Systems lies in its innovative hardware solutions that overcome the limitations of traditional chip design, offering a significant leap forward in AI computing capabilities. Their contributions to the field have not only accelerated AI research and development but have also opened up new possibilities for solving some of the world’s most challenging problems through AI.
15. VAST Data [data platform]
Year founded: 2016
Headquartered in: New York, US
Company size: 501-1000
Funding round: Series E
Total funding raised: $381M
Last valuation: $9.1B
VAST Data is a disruptive startup in the data storage sector, offering a universal storage platform designed to simplify data infrastructure and eliminate the traditional trade-offs between performance, scalability, and cost. Their technology combines the speed of all-flash storage with the scalability and cost-effectiveness of hard drives, making it suitable for a wide range of data-intensive applications, from AI and machine learning to big data analytics.
By offering a solution that scales effortlessly and delivers consistent high performance, VAST Data has attracted a diverse clientele, including leading companies in industries such as life sciences, finance, and entertainment. The startup’s innovative platform is setting new standards for data storage, making it a key player in the ongoing evolution of the data center landscape.
Honorable Mentions
1. GoCharlie [marketing productivity]
Year founded: 2022
Headquartered in: San Francisco, USA
Company size: 2-10
Funding round: Pre-seed
Total funding raised: $2.1M
Last valuation: –
GoCharile’s AI is looking to boost your team’s productivity by automating repetitive tasks like research and content creation so you can focus on more strategic, creative work. A leading Generative AI company, GoCharlie is specializing in developing cognitive agents and models optimized for businesses. Its multi-tool platform features anything from Audio to Text generator to web scraping.
Although not as big as some other startups on this list, GoCharlie is definitely one of those emerging AI startups you want to keep an eye on. Currently, the generative AI startup has 6 investors including SRI International and Davidovs Venture Collective.
2. Murf AI [voice generator]
Year founded: 2020
Headquartered in: Utah, USA
Company size: 51-200 Employees
Funding round: Series A
Total funding raised: $11.5M
Last valuation: –
Murf offers various features such as text-to-speech in over 20 languages, voice cloning, and AI Dubbing. The platform uses artificial intelligence to improve modification capabilities and allows users to create natural-sounding narrations for a variety of projects.
Furthermore, Murf seamlessly integrates with various platforms such as Canva, Google Slides, Adobe Audition, and Adobe Captivate, extending its usability across different workflows.
3. Iris (Qureos) [AI recruitment platform]
Year founded: 2021
Headquartered in:Dubai, UAE
Company size: 50-100
Funding round: Pre-seed
Total funding raised: $3M
Last valuation: –
Iris by Qureos an AI recruitment intelligence platform that automates sourcing, shortlisting, and candidate outreach in just 24 seconds. It helps recruiters and hiring managers discover profiles and match them with relevant candidates.
Iris generates customized job descriptions to attract the right talent. It also takes care of the outreach by sending hyper-personalized messages to shortlisted candidates.
AI Startups FAQ
How many AI startups are there?
As of the latest available data, there are approximately 67,200 artificial intelligence companies worldwide. The US is home to the largest number of AI companies, with approximately 25% of the global total. What’s more, China has the highest rate of AI deployment, followed by India.
What challenges do AI startups face?
AI startups often grapple with challenges such as securing sufficient funding, navigating regulatory and ethical considerations, and ensuring data privacy and security. AI startups, being startups, need to take care of their growth metrics in order to grow. This is why smaller startups often outsource their marketing and growth to a startup marketing agency.
How do AI startups impact traditional industries?
AI startups are revolutionizing traditional industries by introducing efficiencies, automating processes, and providing data-driven insights. This leads to cost savings, enhanced productivity, and the creation of new business models and opportunities.
What is the future outlook for AI startups?
The future outlook for AI startups is promising, with increasing adoption across sectors and continuous advancements in AI technologies. The key to success will be in addressing ethical considerations and ensuring the beneficial impact of AI on society.
Theodore has a 20-year experience in running successful and profitable software products. During his free time, he coaches and consults startups. His career includes managerial posts for companies both in Greece and abroad and he has significant skills on intrapreneurship and entrepreneurship.
