CB Insights: AI startup funding hit new high of $26.6 billion in 2019

“As part of an annual look at global AI investment trends, CB Insights today reported that AI startups raised a record $26.6 billion in 2019, spanning more than 2,200 deals worldwide. That’s compared to roughly 1,900 deals totaling $22.1 billion in 2018 and about 1,700 deals totaling $16.8 billion in 2017.”

https://venturebeat.com/2020/01/22/cb-insights-ai-startup-funding-hit-new-high-of-26-6-billion-in-2019/

Digital bank Chime quadruples valuation in less than a year to $5.8 billion as it takes on megabanks

  • “Chime, the largest of a new breed of branchless U.S. banks, raised $500 million in a series E round it closed recently valuing the company at $5.8 billion, according to people with knowledge of the situation. That is a remarkable increase from its last round nine months ago, when it raised $200 million at a $1.5 billion valuation.
  • But Chime appears to have struck on a winning formula: It targets the disaffected customers of traditional banks with no-fee accounts, free overdrafts and early direct deposits on paychecks. That’s led to torrid growth, going from 1 million accounts last year to about 6.5 million this month.”

https://www.google.com/amp/s/www.cnbc.com/amp/2019/12/05/chime-quadruples-valuation-to-5point8-billion-as-it-raises-500-million.html


Chris Britt

Chime CEO

http://linkedin.com/in/cbritt

1 big thing: The world is catching up on AI

  • “Last year for the first time ever, the U.S. share of global artificial intelligence startup funding deals fell to less than half the world’s total.
  • The U.S. was home to nearly 75% of all deals in 2013, data shows, but is fast losing share in the startup market — a key driver of innovation.
  • The total amount of funding is still tilted heavily toward the U.S. — with the exception of a handful of Chinese mega-companies like TikTok owner ByteDance, which is the top-funded AI startup in the world. The U.S. funding lead is likely to continue because of its concentration of AI experts.”

https://www.axios.com/newsletters/axios-markets-43c67615-4f0c-4d79-93fc-a4fe86169ccc.html