AI search solution provider Aurum Planet, operating the Liner application, has successfully closed a Series B2 funding round, raising an impressive ₩27 billion ($20 million). This brings the company's total funding to ₩44 billion ($32 million). The funding round was led by Atinum Investment and InterVest, with participation from Samsung Venture Investment, LB Investment, Capstone Partners, Industrial Bank of Korea, and SL Investment. Notably, this investment round was completed within two weeks of initiation, a testament to Liner's strong market appeal and investor confidence. Liner's innovative AI search technology, which highlights user-selected information and provides highly relevant results, has been a key driver behind this investment. The company's development and operation of a source selection-specialized LLM since 2023 has been particularly noteworthy. By providing sources for each sentence in its responses, Liner addresses the hallucination issue often associated with AI-generated content, ensuring the validity and reliability of its search results. Liner's rapid growth, particularly in the U.S. market, has also been a significant factor in attracting investor interest. With over 10 million subscribers in 220 countries, Liner has seen a 13.5-fold increase in active U.S. subscribers in the past year. Kim Je-wook, Vice President of Atinum Investment, highlighted Liner's exceptional data and technological advantage in the AI search sector, emphasizing the company's potential to establish itself as a global leader in the field. The newly secured funding will be used to enhance services, strengthen the company's competitive advantage, and invest in talent acquisition and marketing efforts both domestically and internationally. Source: Money Today #AIsearch #Funding #StartupInvestment #StartupScene #VentureInvestment #TechStartup #SearchEngine #AIStartup
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A hot summer for the European AI scene! Despite the overall still timid sentiment in venture capital, I’m more optimistic than ever about the European AI landscape. Just look at some of the most recent headlings: - AMD’s $665M Acquisition of Finnish AI Startup Silo AI - Helsing’s €450M Series C Round - Backed by US investor General Catalyst - Growth in European AI Funding - As noted by Katharina Wilhelm in manager magazin, 2024 is set to be a landmark year with AI funding in the EU expected to grow by 113%, outpacing the US. I've added some thought around how I feel these are just a first glimpse of what is to come in a short substack: https://lnkd.in/gzH7yE64 What other or smaller movements are exciting you? #AI #VentureCapital #Europe #Innovation #Tech #Investment #FutureOfAI
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Alright! Time to get our work out to some more people! So far we've kept TurboInnovate fairly under wraps, but we're about to explode user growth on it by opening up some floodgates. If you deal with innovation or technology in any way, TurboInnovate is for you. Get on the list while you can! #innovation #techscouting #marketresearch
OPEN NOW! TurboInnovate is launching a free version of our AI-powered, comprehensive market research tool. Trusted by Amgen, the DOE, DOD, NIH, leading corporates, startups, ESOs, TTOs, and more, TurboInnovate’s commercialization insights are unparalleled. Join the waitlist now to gain access to 1 market research report, unlimited innovation feed posts, and unlimited innovation insights from our standard conversational model! https://lnkd.in/gYvUjg6j OmniSync Incorporated #marketresearch #commercialization #AI #marketreport #techscouting #competitiveanalysis #licensing #partnering
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Managing Partner at LIP Ventures, Remotics & NewHealth Ventures / Entrepreneur turned Investor
"With the arrival of LLMs, mere 'services firms' have become much more exciting businesses." "It’s not uncommon to find incumbents with largely paper-based or on-premise systems of record." "These startups have a similar offering to incumbent competitors, but use AI and a vertically-integrated technology stack to drive much higher margins and deliver unrecognizably better service (faster / cheaper / 24-7)." Source: https://lnkd.in/dgiQR7qu, Curation: Yotam Cohen LIP Ventures Boutique #ai #llms #disruption
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The GenAI technology market is rapidly expanding, with established providers and startups offering a wide range of solutions. Explore how these market leaders will influence future GenAI innovation and adoption: https://gtnr.it/3JuPlty #GenerativeAI #Innovation #GenAI
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Client Partner | Strategy & Customer Success | Data Fabric & Analytics Monetisation, AI & ML |
Great report from Gartner highlighting your key players I'm GenAI
The GenAI technology market is rapidly expanding, with established providers and startups offering a wide range of solutions. Explore how these market leaders will influence future GenAI innovation and adoption: https://gtnr.it/4aadAZK #GenerativeAI #Innovation #GenAI
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📣 FUNDING NEWS! Congratulations to Axelera AI on closing a $68 million Series B funding round! The round was oversubscribed and brings total Axelera AI funding to $120 million. Axelera AI, located at the AI Innovation Center, is the leading provider of purpose-built AI hardware acceleration technology for generative AI and computer vision inference. In just three years, Axelera AI has built a team of 180+ employees, including 55+ PhD’s with more than 40,000 citations. It’s launched the Metis™ AI Platform, which achieves a 3-5x increase in efficiency and performance, and has visibility into a strong business pipeline which exceeds $100 million. This success has attracted diverse, global funding from venture capital, sovereign wealth and pension funds. The Series B funding round is Europe’s largest oversubscribed Series B funding round in the fabless semiconductor industry. It’s backed by major institutional investors, including Invest-NL Deep Tech Fund, the European Innovation Council Fund, Innovation Industries Strategic Partners Fund (backed by Dutch Pension Funds PMT and PME) and Samsung Catalyst Fund, along with existing investors Verve Ventures, Innovation Industries, Fractionelera and the Italian sovereign fund CDP Venture Capital SGR. The new capital adds to previously raised funds, including the innovation credit from Netherlands Enterprise Agency , and equity investment from Bitfury, CDP Venture Capital, Federal Holding and Investment Company of Belgium (SFPIM), imec, imec.xpand and Innovation Industries, also a HTCE resident. This news is timely as High Tech Campus celebrates 25 years of #openinnovation with the theme “Rewind & Fast Forward.” Axelera AI exemplifies the “fast forward” part of that theme. Read the full press release: https://lnkd.in/eMbiTd8P #investment #seriesb #scaleup #edgeai #innovation
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💡 AI Innovations Driving the Future: European Startups Secure Funding to Revolutionize Edge AI and Governance 🌍🚀 1️⃣ GEMESYS Raises €8.6M Lead Investors: Amadeus APEX Technology Fund, Atlantic Labs With participation from: NRW.BANK, Sony Innovation Fund, Plug and Play Tech Center 🔗 Read more: https://lnkd.in/gsXGdq-b ----------------------------------------------------------------------------------- 2️⃣ Calvin Risk Secures $4M Lead Investors: JOIN CAPITAL, seed + speed Ventures 🔗 Read more: https://lnkd.in/g8f3ma5w ----------------------------------------------------------------------------------- #AIHardware #AIGovernance #EdgeComputing #SeedFunding #PreSeedFunding #Sustainability #AICompliance #EuropeStartups
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The GenAI technology market is rapidly expanding, with established providers and startups offering a wide range of solutions. Explore how these market leaders will influence future GenAI innovation and adoption: https://gtnr.it/42FIOF1 #GenerativeAI #Innovation #GenAI
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Amid the buzz of burgeoning AI application in daily life, Fei-Fei Li foresees a surge in demand for AI tools simplifying tasks like email management and homework. This trend signals vast opportunities for startups and venture capital investment. https://lnkd.in/gNkhZSn6 #ArtificialIntelligence #ConsumerTech #VentureCapital #Innovation #StartupTrends #AITools #FeiFeiLi #EmailManagement #HomeworkHelp #TechnologyNews
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The GenAI technology market is rapidly expanding, with established providers and startups offering a wide range of solutions. Explore how these market leaders will influence future GenAI innovation and adoption: https://gtnr.it/4aadAZK #GenerativeAI #Innovation #GenAI
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