AI startups were red hot in 2023. Check out 37 pitch decks used by founders to land funds from some of the world's biggest tech investors.
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Riddhi Kanetkar
Apr 15, 2024, 16:09 IST
ChatGPT.Getty Images
AI startups raised $60 billion last year and investors have continued to pile in on the tech in 2023.
The frenzy around AI comes after the launch of OpenAI's ChatGPT chatbot.
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There's an AI gold rush right now.
Investment into startups using or creating artificial intelligence hit an all-time high in 2021, with $113.3 billion poured into the sector, per Dealroom data. This fell to $60 billion in 2022 but that figure is likely to be exceeded this year with $57 billion already invested by venture capitalists.
The investor rush is down, in part, to the release of ChatGPT in late 2022 by US startup OpenAI, cofounded by Sam Altman and Elon Musk. The chatbot became the fastest-growing app in internet history, and almost immediately disrupted education, copywriting, consultancy, and other sectors.
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It's possible that it's just another bubble, akin to the short-lived Web3 fad of 2022. But proponents say AI has broader use cases and few similarities to crypto's "cynical business models". AI was also alive and well long before the current hype around generative AI.
Recent, high-profile rounds include Andreessen Horowitz and ex-GitHub CEO Nat Friedman leading an anticipated $18 million round into voice intelligence startup ElevenLabs, at a possible valuation of $100 million. Venture capitalists are also eyeing startups in the vector-database sector, where valuations are hitting up to $700 million.
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These are some of the pitch decks that founders have recently used to raise millions for their AI startups, from top investors such as Temasek, Insight Partners, Alven, Index Ventures, and more.
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