This week in AI news, Manas AI launched with a focus on cancer drug development, Intel backed Baya Systems’ chip advancements, and ElevenLabs along with Synthesia secured significant funding. Key players like Reid Hoffman and new approaches in voice tech and video creation indicate a lively innovation landscape.
In an exciting week for the AI startup scene, several companies made headlines with significant funding moves and ambitious projects. A standout is Manas AI, the brainchild of LinkedIn co-founder Reid Hoffman and cancer researcher Siddhartha Mukherjee. Launched on January 27, the firm’s goal is to dramatically speed up cancer drug development, aiming for a timeline of just a few years rather than the usual decade. Their initial focus will be on breast cancer, prostate cancer, and lymphoma, as outlined in a blog post by Hoffman and Mukherjee.
The duo expressed a personal connection to their work, saying, “Like many of you, we’ve both had people close to us affected by cancer and other diseases.” Together, they envision a future where innovative treatments can emerge at a much faster pace than ever thought possible. Manas AI promises to combine human insight with AI power to navigate the complexities of drug discovery more swiftly, thanks to their Project Cosmos, which aims to define the rules of drug binding.
Starting off on strong footing, Manas AI has $24.6 million in seed funding from General Catalyst, Greylock Partners, and other strategic investors. This financial backing will help them refine their AI platform and advance their drug candidate pipeline. Microsoft’s Azure cloud platform will bolster their computing needs, which is quite essential for such a tech-heavy endeavor.
Meanwhile, chip technology is also getting a boost. Baya Systems recently closed a $36 million Series B round, with plans to enhance their system-on-chip designs by utilizing a new approach that leverages smaller chips, known as chiplets. This new model is reshaping the landscape of computing by promising better efficiency and reduced costs. Experts in the field have known for a while that traditional SoCs were becoming harder to innovate, so this shift might just be the industry’s way forward.
Led by Maverick Silicon, the Series B round saw contributions from both Synopsys and Intel Capital, who reentered the fray as existing investors. Jim Keller, the chairman of Baya, has a history of impactful chip designs at companies like Apple and Tesla. His leadership is expected to drive Baya forward in what is clearly a critical moment in computing.
In the voice tech realm, ElevenLabs is making headlines again, having raised a massive $250 million in a Series C funding round led by Iconiq Growth. This latest infusion values the company somewhere between $3 billion and $3.3 billion, according to TechCrunch. ElevenLabs is well-known for its state-of-the-art voice cloning technology, allowing users to create lifelike voices from just a half-hour of quality audio material. Their recent deals to replicate the voices of iconic actors only elevate their visibility.
Rounding out the funding frenzy is Synthesia, which nabbed $180 million in a Series D funding round that also sparked interest. Synthesia leverages AI to generate videos without the need for cameras or studios — simply input your text and let the technology do the rest. Their videos are gaining traction among corporate clients for uses ranging from training to internal announcements. With names like Heineken and Zoom in their customer portfolio, they’re clearly striking a chord in the market.
This week’s developments in AI startups reflect the dynamic and rapidly evolving landscape of technology and healthcare. With Manas AI’s ambitious goals for cancer research, Baya Systems’ innovative approach to chip design, ElevenLabs’ remarkable voice cloning capabilities, and Synthesia’s video generation prowess, it’s evident that both funding and creativity are alive and well in the industry. Collectively, these ventures represent the intersection of technology and critical human needs, and we’ll be keeping a close eye on their progress.
Original Source: www.pymnts.com
