AI venture capital funding exceeds $1B for 3rd quarter in a row

Venture capital funding in the artificial intelligence sector hit $1.09 billion in the third quarter of 2017, according to a joint report by PwC and CB Insights.

This announcement marks the third consecutive quarter AI funding exceeded $1 billion. The sector amassed $1.03 billion in funding during the first quarter and $1.13 billion during the second quarter. The number of funding deals in the third quarter reached 91, a slight increase from 89 reported deals in the second quarter.

There were two "mega-rounds" of more than $100 million in funding in the third quarter, according to the report. Nauto, a startup focused on autonomous vehicles, reported $159 million in a Series B funding round. Indigo Agriculture, a startup focused on the plant microbiome, raised $156 million in a Series D funding round.

Click here to view the full report.

More articles on artificial intelligence:
Microsoft establishes $3.5M competition for AI startups
Google Research expands healthcare team with UChicago Medicine hire
UC San Diego, IBM to launch 'artificial intelligence for healthy living' center

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