July 2024 witnessed impressive activity in the B2B SaaS and AI sectors, demonstrating continued investor confidence in innovative technologies, particularly those leveraging artificial intelligence and health tech solutions. Here’s a breakdown of some of the significant fundraises during the month.
1. K Health – $50M
K Health, a New York-based AI-powered health platform, raised $50 million, bringing its total funding to $380 million. The company’s platform uses AI to diagnose patient symptoms and provide access to virtual and in-person care. With this funding, K Health plans to sharpen its AI capabilities and prepare for an eventual IPO.
2. Rhino Health – $16M
Boston-based Rhino Health secured $16 million to expand its AI platform, which enables medical researchers and AI developers to access diverse datasets for developing better algorithms. This funding will help accelerate AI applications in healthcare, improving clinical outcomes by providing better data for algorithm development.
3. AKASA – $85M
AKASA, an AI-driven healthcare automation company based in San Francisco, raised $85 million in Series B funding. The company focuses on automating revenue cycle management for healthcare providers, helping them reduce operational inefficiencies and errors. This funding round will further enhance its AI-powered automation solutions for healthcare organisations.
4. Spellbook – $20M
Spellbook, an AI-focused legal software company, raised $20 million in its Series A round. The company’s contract analysis tools are designed to streamline legal processes for businesses, enhancing efficiency and accuracy through AI. This funding will help Spellbook expand into new markets and innovate its AI-driven product suite.
5. Multiverse Computing – $27M
Multiverse Computing, a quantum computing software startup based in San Sebastián, raised €25 million (approximately $27 million) in Series A funding. Backed by investors like Columbus Venture Partners, this funding will help the company push the boundaries of quantum computing for AI applications, driving innovations in sectors such as finance and cybersecurity.
6. Owkin – $304.1M
Owkin, an AI-powered biotech company based in New York, raised $304.1 million in its Series B round. The company uses AI to accelerate drug discovery and clinical trials, particularly in the fight against cancer. This latest funding will further support their mission to personalise treatments for patients and expedite drug development.
Conclusion
The July 2024 fundraises show a strong interest in AI-driven solutions across various industries, from healthcare to legal tech and quantum computing. Companies like K Health, Rhino Health, and AKASA are transforming healthcare through AI, while startups like Spellbook and Multiverse Computing are pioneering advancements in legal tech and quantum software, respectively. These investments are paving the way for further growth and innovation in the B2B SaaS and AI spaces.
For more information, visit the company websites linked above.
