Bergur Thormundsson
Research expert covering technology in the Nordics, AI and smart cities
Get in touch with us nowAI funding worldwide 2011-2023, by quarter
In the first quarter of 2023, the total artificial intelligence (AI) startup funding worldwide had slumped to a low not seen since early 2018, dropping to 5.4 billion U.S. dollars. This is a correction from the incredible levels of startup funding in 2021 and 2022 following the Covid-19 pandemic. As a broader economic crisis looms in 2023 the funding for less reliable and forward looking projects like startups shrinks.
AI Funding
Over the past decade or so, the global startup funding of artificial intelligence has exponentially grown from 670 million U.S. dollars in 2011 to 36 billion U.S. dollars in 2020. Given what we know about the first and second quarter of 2022 for AI’s startup funding, it appears that 2022 as a whole will see a slowdown and correction in AI startup funding. The more recent top funded artificial intelligence startups in the United States are that of UiPath, Nuro, and Indigo Ag to name a few. Many of these startups are robotic process automation (RPA) companies that are situated in a growing market.
UiPath
UiPath is an AI startup to watch that specializes in robotic process automation (RPA) with the purpose of accelerating human achievement as its technique helps to take over repetitive and routine data entry and basic processing tasks. The startup recently launched its initial public offering (IPO) at a valuation relatively close to what it received from venture capital. UiPath is considered the second most valuable unicorn startup worldwide at 35 billion U.S. dollars and has accomplished the designation of the most popular robotic process automation (RPA) product vendor across Global 2000 enterprises.
