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On 16 May, the OVHcloud startup program, partnered with Intel Ignite, Yepic.AI, and our team at Alchemy Crew to organise an event that showcase AI and Generative AI startups. The aim of this event was to provide visibility and funding opportunities to the best startups/scaleups in these fields, discussing potential opportunities and threats in AI and Generative AI. Attendees heard industry stories, founders’ journeys, and each startup’s immediate needs that could be met by venture capitalists and corporations. Post-event drinks and nibbles created a relaxed atmosphere that supported networking interactions and the further discovery of each startup and its value proposition.
With the objective of establishing Europe’s premier Generative AI community, our primary goal for this event was to create a platform that focused specifically on topics related to Generative AI. This gathering presented an ideal opportunity for attendees to showcase their innovative ideas, engage in fruitful discussions regarding potential collaborations, and establish connections with potential investors. The main discussion revolved around exploring the concept of Sustainable AI and Generative AI, delving into the strategies, opportunities, and challenges associated with these technologies from the perspective of investors.
As technology advances, it is becoming increasingly important to create strong strategic partnerships and networks that can support the growth of Generative AI. The conference provided an invaluable platform for attendees to connect with industry experts, make new professional connections, and share. In the realm of Artificial Intelligence, organizations are increasingly turning to cloud solutions such as OVHcloud to ensure scalability and maximize performance. By leveraging the capabilities of OVHcloud, AI-driven enterprises can seamlessly expand their operations and achieve optimized efficiency.
OVHcloud offers businesses a comprehensive suite of services, including high-availability computing, hybrid cloud infrastructure, and secure virtualization. These solutions are meticulously designed to optimize costs and enhance business operational efficiency. By harnessing the power of OVHcloud, organizations can unlock numerous advantages, such as superior user experiences and fortified data security measures. Embracing these services enables businesses to elevate their performance, streamline operations, and achieve their goals with confidence.
During the scouting process, our team at Alchemy Crew contributed to reviewing over 250 AI and Generative AI startups. We discovered through our sourcing process that they were over 56.4K artificial intelligence startups across the globe that have already received over USD $505 billion in funding, whilst, in Generative AI, 488 startups received $29.1 billion in funding over the years.
“In our comprehensive scouting journey at Alchemy Crew, we cast our net wide and deep, reviewing an impressive number of Generative AI startups. What we unearthed was a treasure trove of opportunities and business models. However, in the more niche sphere of Generative AI, we found 488 pioneers innovating with a war chest of $29.1 billion. This massive influx of investment is a testament to the profound transformative power these companies wield, orchestrating a paradigm shift in our interaction with technology. Just within the last year, we’ve seen a surge in startups harnessing Natural Language Processing (NLP) and large language models to revolutionize customer engagement and servicing through swift and precise query comprehension. These revelations hint at an AI-infused future that is not just a vague prospect, but an inevitable reality. The alchemy of AI and human ingenuity will continue to shape and reshape the world as we know it.”
Sabine VanderLinden, CEO and Managing Partner, Alchemy Crew
These companies are taking the world to the next level by changing the way we interact with technology. Generative AI companies such as OpenAI, DeepMind, and Cogito use AI to generate text, imagery, sound, videos, and more. In the past year alone, we have seen startups leveraging natural language processing (NLP) to understand customer queries quickly and accurately.
Our collaboration with OVHcloud, IntelIgnite, and Yepic AI enables early-stage ventures to gain access to new cloud-based capabilities to build, grow and scale their businesses, including being more “open, sustainable, and free in the cloud” so that they can have peace of mind knowing they have effective measures in place to protect their valuable data assets when scaling their business.
Since 2015, the OVHcloud ecosystem welcomed more than 3,000 startups and scaleup from around the world. Yepic.ai and Fidsy are two examples of popular and growing startups. Startups joining the OVHcloud Startup Program get access to credits, co-marketing possibilities, and support starting on day one.
Cloud technology plays a pivotal role in empowering AI and Generative AI startups to thrive and innovate. By leveraging cloud infrastructure and services, these startups can access scalable computing resources, robust storage capabilities, and advanced machine learning frameworks. The cloud provides a flexible and cost-effective platform for developing, training, and deploying AI models, eliminating the need for extensive on-premises infrastructure. Additionally, cloud services offer seamless collaboration, enabling distributed teams to work together effectively. The scalability of the cloud allows startups to handle large datasets, experiment with different algorithms, and iterate rapidly. With the cloud’s agility, startups can focus on their core AI and Generative AI research, while leaving the underlying infrastructure management to cloud providers. Ultimately, cloud technology empowers AI and Generative AI startups to accelerate their innovation, reduce time-to-market, and scale their solutions efficiently.
Before reviewing the details of the startups that joined us on 15 May, we would like to remind you to stay tuned for future events by checking our LinkedIn page.
Year founded: 2018
Country: London (United Kingdom)
Funding stage: Seed
Hypi is a provider of low code backend as a service for application development. It provides a platform that builds serverless cloud applications and API services. The features include database and storage management, API integrations, Software reuse, development of BPM applications, and dashboards.
Year founded: 2019
Country: London (United Kingdom)
Funding stage: Seed
Court Correct is a cloud and AI based legal case management system. The platform enables organizations to register, acknowledge, resolve, and close cases. The platform also handles regulatory compliances and reduces manual work. Some of the features of the platform include the automatic flagging of risky cases, task automation, case databases for decision support, and more.
Year founded: 2018
Country: London (United Kingdom)
Funding stage: Seed
NeuralSpace provides AI and SaaS-based software tools for developing voice technology applications. It offers tools that let developers build custom multi-lingual voice applications that enable businesses to communicate with customers. Its applications developed by the platform support multiple native languages. It leverages NLP technology for automating voice and language processing.
Fashion AI
Year founded: 2022
Country: London (United Kingdom)
Funding stage: Unfunded
Fashion AI is a cutting-edge technology company that specializes in revolutionizing the fashion industry through the integration of artificial intelligence and advanced data analytics. FashionAI combines the realms of fashion and technology to provide innovative solutions for businesses in the fashion sector.
Year founded: 2022
Country: London (United Kingdom)
Funding stage: Unfunded
Thraive is an innovative technology company that specializes in providing advanced solutions to help businesses thrive in the digital era. With their cutting-edge products and services, Thraive empowers organizations to unlock their full potential and achieve sustainable growth.
Year founded: 2014
Country: London (United Kingdom)
Funding stage: Funding Raised
Orpiva.ai is an innovative technology company dedicated to revolutionizing the field of artificial intelligence (AI) and machine learning (ML). Their website, https://www.orpiva.ai/, serves as a window into the company’s cutting-edge solutions and showcases their commitment to empowering businesses with intelligent automation.
Year founded: 2017
Country: London (United Kingdom)
Funding stage: pre-seed
Mostly AI is an AI based big data analytics platform to understand customer behavior. It allows users to track and collect big data from various sources. It analyzes and provides insights related to consumer behavior and builds predictive models by using deep learning, machine learning, and artificial intelligence technologies. By using a synthetic data engine it allows users to simulate data, create patterns, and understand the variations in the data using deep neural networks.
Year founded: 2019
Country: London (United Kingdom)
Funding stage: Funding Raised
Yepic.ai is an innovative technology company that specializes in providing advanced solutions in the field of computer vision and artificial intelligence (AI). With their cutting-edge technologies and expertise, Yepic.ai empowers businesses to harness the power of visual data and transform it into actionable insights.
Year founded: 2020
Country: Didcot (United Kingdom)
Funding stage: Funding Raised
Sociate.ai is a dynamic company specializing in AI solutions and automation. Their cutting-edge AI platform leverages advanced algorithms and data analytics to deliver intelligent solutions across industries. With expertise in natural language processing and computer vision, they develop chatbots, virtual assistants, and visual data analysis tools. Sociate.ai helps businesses streamline operations, make data-driven decisions, optimize processes, and enhance customer experiences. They prioritize innovation and stay up-to-date with the latest AI advancements. Building strong partnerships with clients, Sociate.ai provides personalized attention and support. Their tailored AI solutions drive business transformation, unlocking the full potential of data and giving clients a competitive edge. In summary, Sociate.ai is a forward-thinking company enabling organizations to leverage AI for efficiency, productivity, and success in diverse industries.
Year founded: 2019
Country: London (United Kingdom)
Funding stage: Seed
Alice Camera is an innovative company that specializes in creating cutting-edge camera technology for photographers and content creators. Their mission is to revolutionize the way people capture and share visual content. Alice Camera offers a compact and powerful camera system that combines the convenience of a smartphone with the capabilities of a professional camera.
As of May 2023, the top funded business model among artificial intelligence is NLP Platforms in Natural Language Processing and AI infrastructure with $10.3 billion, followed by diversified business payments in blockchain with $6.87 billion and AI accelerators with $2.1 billion.
AI and generative AI have a profound impact on the world, particularly in business. These technologies bring automation, efficiency, and cost reduction by eliminating repetitive tasks and streamlining operations. AI’s ability to analyze vast amounts of data enables businesses to make data-driven decisions, identify patterns, and understand customer preferences. Enhanced customer experiences are facilitated through AI-powered chatbots and personalized marketing strategies. Predictive analytics and risk management allow for better forecasting, optimized pricing, and improved supply chain management. Generative AI sparks innovation by generating novel designs and ideas. AI also assists in strategic decision-making by providing insights, simulations, and optimization algorithms for pricing, inventory management, and resource allocation. Embracing AI empowers businesses to stay competitive, drive growth, and unlock new opportunities in today’s digital landscape.