Artificial intelligence startups around the world raised a record-setting $26.6 billion in 2019, with healthcare receiving a larger share of that total than any other industry, according to a new CB Insights report.
Three findings from the report:
1. Of the 2,235 investment deals across AI startups last year, 367 were in healthcare, for a total of $4 billion.
2. The surge in funding for AI startups in healthcare and beyond was led by a swath of "mega-rounds" of financing reaching at least $100 million, as well as a new crop of "unicorn" startups valued at $1 billion or more. In healthcare, Babylon Health achieved both designations: It reached unicorn status after raising $550 million in August for its AI-enabled medical chatbot.
3. 2019 also saw a record number of AI startups making exits, either through mergers and acquisitions or initial public offerings. Of the 231 M&A deals and 10 IPOs across all industries, healthcare startups were responsible for 17 M&A deals and two IPOs.
View the full report here.
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