Startups across 39 US states are applying artificial intelligence tech across industries like marketing, healthcare, retail, and more.
Funding to artificial intelligence startups is soaring. Last year, VCs invested a record $9.3B into US AI startups — more than 8x funding levels just 5 years ago ($1.1B in 2013).
In 2018, the top 3 states for AI deals were California (48% of deals), New York (12%), and Massachusetts (9%), though investors have bet on AI startups across the country.
Using the CB Insights database, we mapped out the top-funded AI startup in every US state.
Collectively, these startups have raised over $5B, with leading companies such as Butterfly Network (Connecticut, $350M in total disclosed equity funding), Welltok (Colorado, $339M), and InsideSales.com (Utah, $264M).
Our analysis looked at equity funding to private, VC-backed AI startups that have had an equity deal in the last 5 years. We exclude funding from debt, loans, and lines of credit.
KEY TAKEAWAYS
- The most well-funded US artificial intelligence startup is Nuro, with over $1B in disclosed equity funding (as of 03/13/2019), including a $940M Series B from SoftBank. The California-based startup is developing autonomous vehicles, with a focus on last-mile delivery.
- Nuro is followed by Illinois’ Avant ($655M) and Massachusetts’ Indigo Agriculture ($617M).
- There are 7 unicorn startups on our map: agtech startup Indigo Agriculture ($3.5B valuation), Nuro ($2.7B), alternative lending startup Avant ($1.9B), AI-powered predictive sales acceleration platform InsideSales.com ($1.7B), salestech startup Afiniti ($1.6B), healthcare startup Butterfly Network ($1.3B), and data analytics company Dataminr ($1.2B).
- 12 startups on the map have raised over $100M in disclosed equity funding. They include cybersecurity company StackPath ($180M) and fintech companies Opera Solutions ($122M) & Petuum ($108M).
- 29 startups on this list have raised <$10M in equity funding. The startup with the least funding on the list is Rhode Island’s The Innovation Scout, a SaaS platform that has raised $50K.
State | Company | Total Equity Funding ($M) |
---|---|---|
Arizona | Cyr3con | 1.5 |
Arkansas | Info Assembly | 0.2 |
California | Nuro | 1,032.0 |
Colorado | Welltok | 339.4 |
Connecticut | Butterfly Network | 350.0 |
DC | Afiniti | 101.5 |
Delaware | ICM Hub | 3.1 |
Florida | Kairos | 14.5 |
Georgia | Bastille Networks | 40.0 |
Illinois | Avant | 655.0 |
Indiana | SmarterHQ | 37.8 |
Iowa | IDx Technologies | 43.0 |
Kansas | RiskGenius | 8.0 |
Kentucky | Lucina Health | 24.5 |
Louisiana | Zlien | 17.2 |
Maryland | Protenus | 19.2 |
Massachusetts | Indigo Agriculture | 616.5 |
Michigan | May Mobility | 37.1 |
Minnesota | Inspectorio | 13.8 |
Missouri | Benson Hill Biosystems | 94.2 |
Nevada | Clone Algo | 40.0 |
New Hampshire | ArtBnk | 2.6 |
New Jersey | Opera Solutions | 122.2 |
New Mexico | Descartes Labs | 38.3 |
New York | Dataminr | 569.2 |
North Carolina | Somnoware | 12.5 |
Ohio | Wiretap | 11.1 |
Oklahoma | iRecommend Software | 1.9 |
Oregon | Lytics | 58.3 |
Pennsylvania | Petuum | 108.0 |
Rhode Island | The Innovation Scout | 0.05 |
South Carolina | ENGAGE Talent | 5.4 |
Tennessee | Digital Reasoning Systems | 105.6 |
Texas | StackPath | 180.0 |
Utah | InsideSales.com | 264.3 |
Vermont | Faraday | 5.5 |
Virginia | Binary Fountain | 89.7 |
Washington | Icertis | 96.5 |
Wisconsin | EnsoData | 2.1 |
This study was conducted by CBInsights and originially appeared here.
[/et_pb_text][et_pb_image _builder_version=”3.0.74″ animation_style=”slide” animation_direction=”left” animation_duration=”500ms” animation_intensity_slide=”10%”][/et_pb_image][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”3.0.74″ background_color=”#bcbcbc” custom_padding=”14px|0px|9px|0px”][et_pb_row make_fullwidth=”on” admin_label=”row” _builder_version=”3.0.65″ background_color=”#bcbcbc” background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.0.47″][et_pb_cta title=”Take Back Your Day” button_url=”https://www.mdsny.com/contact” button_text=”Contact Us” _builder_version=”3.16″ header_font=”Droid Sans|on|||” header_text_color=”#141414″ header_font_size=”31px” body_font=”Droid Sans||||” body_text_color=”#000000″ body_font_size=”19px” use_background_color=”off” background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_button=”on” button_text_color=”#000000″ background_layout=”light” button_bg_color_hover=”#008a93″ button_text_size__hover_enabled=”off” button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” button_border_radius__hover_enabled=”off” button_one_border_radius__hover_enabled=”off” button_two_border_radius__hover_enabled=”off” button_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover_enabled=”off” button_bg_color__hover_enabled=”on” button_bg_color__hover=”#008a93″ button_one_bg_color__hover_enabled=”off” button_two_bg_color__hover_enabled=”off”]
Learn how the latest technologies can free up your time so you can focus on your business
[/et_pb_cta][/et_pb_column][/et_pb_row][/et_pb_section]