- The Brief by Execs in Tech
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- The Brief - Issue #5
Welcome to another issue of The Brief! This week’s issue is a bit shorter, and we’ll be back to your regularly scheduled programming next week.
In the meantime, check out NYT’s ChatGPT Valentine generator tool. It can even write your Valentine in the style of Taylor Swift or Rumi! By the way, we know V Day was yesterday, but who's to say you can't use AI to profess your love year-around! 🤗
DEVELOPMENTS
AI Developments in the past week
OpenAI crossed $2B in revenue. Last week, OpenAI, which is valued at over $80 billion, announced that they crossed the $2 billion revenue milestone last December
AI could help rebuild the middle class. While many are concerned AI will be a job destroyer, this essay gives compelling reasons for why AI could help grow the middle class by allowing low-paid employees a path to higher paying positions that rely on expertise
Roblox releases real-time AI chat translator. Roblox is using AI to help players chat with each other across languages, in real-time!
Microsoft aims to equip 2 million people in India with AI skills by 2025. This initiative, called ADVANTA(I)GE INDIA, will focus on training individuals in Tier 2 and Tier 3 cities, as well as rural areas.
FUNDING
Funding in the past week
Colossyan, a London-based AI-text-to-video platform, raised a $22 million round led by Lakestar, the round saw participation from existing investors Launchub, Day One Capital, and Emerge Education.
Mechanical Orchard, an SF-based startup that uses GenAI to help businesses update old software systems, raised $24 million from Emergence Capital at a $95 million valuation after reaching $10 million in revenue and profitability in just over a year.
Mechanical Orchard, an SF-based startup that uses GenAI to help businesses update old software systems, raised $24 million from Emergence Capital at a $95 million valuation after reaching $10 million in revenue and profitability in just over a year.
SF-based Unlearn uses machine learning to create digital twins of clinical trial participants before being randomized in a controlled trial, which can provide researchers insight into the participants' health outcomes. The startup pitches its technology as a way to run smaller clinical trials more quickly, since researchers can find fewer participants for the control group. The company recently announced $50 million in Series C funding.
Aizon, an SF-based SaaS startup SaaS that uses AI to enhance pharmaceutical manufacturing processes, announced $20 million in Series C funding. The round was led by NewVale Capital with participation from existing investors Atlantic Bridge, Crosslink Capital, and Uncork Capital.
For a list of all the companies that have raised funding in the past 3 months, check out our funding database! The password is EITreaders
If you’d like to share the database with your friends, share this link: https://www.execsintech.com/funding-database
JOBS
Leadership roles on the business side of AI
AI and Advanced Analytics Director. Honeywell
AI Evangelist. AlphaSense
Director - AI Tools & Platforms. Sherwin-Williams
See you next week! If you’ve liked what you’ve read so far, do us a solid and share this with your friends 🌟