AI sector cinches $2.3B+ in VC funding during Q2, report finds

Artificial intelligence startups received more than $2.3 billion in venture capital investments during the second quarter of 2018 — a new record for the sector, according to a joint report by PwC and CB Insights.

There were 124 funding deals across the AI sector during the quarter, down from 125 deals reported during the first quarter. However, with $2.3 billion in venture capital investment, the second quarter marked a high level of growth for the sector, which had earned $1.9 billion during the first quarter of 2018. 

The report attributed the growth to eight mega-rounds — or funding rounds that earned more than $100 million — during the second quarter.

Here are five AI startups that received the most VC funding during the second quarter of 2018:

1. Dataminr, a New York City-based internet software and services company: $392 million

2. CrowdStrike, a Sunnyvale, Calif.-based internet software and services company: $200 million

3. Tanium, an Emeryville, Calif.-based security software company: $175 million

4. Cylance, an Irvine, Calif.-based security software company: $120 million

5. AutoLab AI, a Palo Alto, Calif.-based software company that's still in stealth mode: $113 million

To access PwC and CB Insights' report, click here.

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