The maturing artificial intelligence industry is booming, with companies from different sectors utilizing AI technology to improve their efficiency, quality, and speed, resulting in a significant increase in AI startup funding, says Jastra Kranjec of BuyShares.

Several Triangle startups are prominent players in the AI field.

Raleigh artificial intelligence startup Diveplane lands additional capital

The surge of the entire market, says Kranjec, has been followed by the growing number of AI startups looking to expand their business by attracting investments or series funding.

According to data presented by, artificial intelligence startups raised $9.9 billion in the second half of 2020, 15% more compared to the same period a year ago.

By the end of 2015, artificial intelligence startups raised $5.5 billion in cumulative funding, revealed Crunchbase data. This figure soared by almost 600% to $37.8 billion in the next three years.

Statistics show that 2019 witnessed $19.3bn worth of funding rounds, the highest annual value so far.

However, the COVID-19 crisis triggered a sharp fall in funding activities, with AI startups raising $7.7bn between January and June, a 30% drop year-over-year.

By the end of the third quarter of 2020, the cumulative value of funding hit $69.6 billion, a $4.7 billion increase in three months. Statistics show AI startups raised another $5.2bn between September and December, 40% more than the same period a year ago, with the cumulative value of funding reaching $74.8bn.

Relativity Space`s $500M Worth Funding Round the Biggest Investment in 2020

Analyzed by the value of raised funds, Relativity Space`s Series D funding round led by Tiger Global Management is the most valuable investment in 2020.

The company is building the first iteration of its Terran 1 rocket by using multiple 3D-printers, all developed in-house. The rocket is designed to have about 95% of its parts be 3D-printed, making it less complex and faster to build or modify than traditional rockets.

Earlier this month, a self-driving trucks startup TuSimple closed a $350 million worth Series E funding round, the second-largest investment in 2020. The round led by VectoIQ LLC included investors like Goodyear, Union Pacific, CN Rail, U.S. Xpress and retailer Kroger.

Statistics show that Zymergen`s $300 million worth Series D funding round represents the third-largest investment in 2020. The US biotechnology company specialized in machine learning, big data, and artificial intelligence explained it would use the funds to speed up manufacturing its first commercially available product Hyaline, a revolutionary bio-generated specialty film in the polyimide family.

Looking for work? Raleigh artificial intelligence firm says it’s hiring hundreds