Top 10 global emerging artificial intelligence (AI) startups in 2024

Most-promising AI Startups of 2024: In today’s digital economy, artificial intelligence (AI) has emerged as a revolutionary force in the digital age and is at the forefront of technological advancements, driving significant advancements and innovations and shaping the future of humanity across societies, governance, and nearly every industry.

The launch of ChatGPT by OpenAI in late 2022 has led to the unprecedented growth of the AI industry, with the global AI market size projected to grow at a compound annual growth rate (CAGR) of 36.6% from 2024 to 2030, according to a forecast by Grand View Research.

Global Artificial Intelligence Market size and growth rate, 2024 – 2030

Even tech giants like Amazon, Google, Apple, Facebook, IBM, and Microsoft have been investing heavily in AI research and development (R&D), substantially raising the industry’s market capitalization.

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According to the IBM survey, approximately 42% of enterprise-scale organisations have integrated AI into their operations, while around 38% have implemented generative AI within their workflows.

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This has resulted in attracting a wave of new entrepreneurs and founders to the industry, with the AI market projected to reach a staggering $407 billion by 2027, as predicted by MarketsandMarkets.

Among this myriad of AI startups seeking to capitalise on the growing demand for innovative AI solutions, Forbes recently unveiled the world’s largest emerging AI startups as of 2024 that have received substantial investments and funding to advance their AI-driven solutions.

Not so surprisingly, OpenAI leads the pack with a staggering $11.3 billion in funding, showcasing its dominance in AI model development. Discover the top 10 emerging AI startups in the world in 2024, receiving the highest funding.

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Top 10 emerging privately held artificial intelligence (AI) startups in 2024:

Explore the most compelling global AI startups of 2024, which have received the most funding.

SNo.	Name of the company	What it does	Funding (in dollars)	Founding year	Headquarters
1	OpenAI	AI model developer	$11.3B	2015	San Francisco, California, United States
2	Anthropic	AI model developer	$7.7B	2020	San Francisco, California, United States
3	Databricks	Data storage and analytics	$4B	2013	San Francisco, California, United States
4	Anduril Industries	Defence software and hardware	$2.8B	2017	Costa Mesa, California, United States
5	Figure AI	Autonomous humanoid robots	$754M	2022	Sunnyvale, California, United States
6	Cerebras Systems	Computer chip maker	$720M	2016	Sunnyvale, California, United States
7	Insitro	Drug discovery and development	$643M	2018	San Francisco, California, United States
8	Scale AI	Data labelling and software	$600M	2016	San Francisco, California, United States
9	Mistral AI	Open-source AI model research	$528M	2023	Paris, France
10	Cohere	AI model developer	$445M	2019	Toronto, Ontario, Canada