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Quantexa, a London-based startup, has raised $175 million in Series F funding, boosting its valuation to $2.6 billion. The company specializes in using AI and data analytics to combat money laundering and fraud, while also expanding its technology to help organizations manage data across various silos for AI services. This funding marks a significant increase from its previous valuation of $1.8 billion in 2023.
With a growing demand for AI services, Quantexa aims to leverage its technology for data curation, addressing the challenges organizations face with unstructured data. The company has established partnerships with major players like Microsoft and Databricks to enhance its offerings, including building AI solutions for U.S. mid-market banks. As Quantexa continues to grow, it is also focusing on expanding its presence in the public sector, particularly in the U.K.
• Quantexa raises $175 million to enhance AI-driven data analytics.
• Partnerships with Microsoft and Databricks aim to expand AI applications.
Data analytics involves analyzing data to extract insights, crucial for AI applications.
AI services refer to applications of artificial intelligence to improve business processes.
Unstructured data is information that lacks a predefined format, posing challenges for AI training.
Quantexa uses AI to combat fraud and enhance data analytics for organizations.
Microsoft collaborates with Quantexa to develop AI solutions for data analytics platforms.
Databricks partners with Quantexa to utilize its technology for organizing data in AI applications.
Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
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