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  • 🤫 Runway quietly picks up $100M at a $1.5B valuation

🤫 Runway quietly picks up $100M at a $1.5B valuation

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Welcome to the Chief AI Office newsletter! We are thrilled to have you join our community of professionals who share an interest in A.I. Our goal is to provide you with the most up-to-date information on the investments in A.I. as well as the greatest A.I. tools to help you boost your productivity. With our weekly market updates, you'll stay ahead of the curve.

Top picks from last week 🚀 (May 1st - May 7th)

A quick highlight

Generative AI startup Runway secures a $100M Series D at a $1.5B valuation

Runway is the gold standard for image and video editing with AI on your laptop and its recently released iOS app. They have a ton of features in their creative suite ranging from generating videos and images, infinitely expanding images, training custom models, erasing objects from videos, adding slow motion to any video, animating still images, and removing backgrounds. This announcement comes just a few weeks after the launch of its text-to-video model called Gen-2. Check it out in action below 👇

ODAIA, the company behind MAPTUAL, an AI-powered commercial insights SaaS platform for pharmaceutical companies, streamlines the prospecting, qualifying, and engagement of healthcare providers, automating a traditionally manual and labor-intensive process. With its two products, MAPTUAL Field and MAPTUAL Sphere, the platform provides granular views of healthcare providers and their prescription data, enabling sales reps to improve their pre-call planning and managers to better coach their teams. The $25 million Series B funding round was led by Threshold Ventures and Monograph Capital.

SPREAD is tackling the issue of wasted engineering time by creating a platform for engineering intelligence that standardizes and connects all sources of product data. By making product information easily accessible and actionable, SPREAD aims to save time, money, and resources for thousands of engineers working on complex mechatronic products (robots, cars), ultimately reducing delays, failures, material waste, and recalls. “We saw that engineers spend 70% of their time manually searching for product information. They need this information to work on their piece of the puzzle and make sure it fits into the bigger picture,” explained Spread managing director and co-founder Robert Göbel.

Range raises $12M Series A led by Gradient Ventures, Google’s early-stage A.I. VC arm. They have built an A.I.-driven all-in-one Wealth Management app to manage your investments, taxes, cash flow, retirement, estate plans, and more.

Total Capital Invested in the Week 💰 (May 1st - May 7th)

$376,540,288

Chief AI Tool of the Week 📢

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Chief AI Officer (CAIO)

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