Artificial intelligence companies have bucked the slowdown in tech deals that began in the middle of 2022 and appears to have continued into the second quarter of this year. A new analysis from Deloitte shows just how many of these deals were occurring in New York City during the first three months of 2023.
The region had 26 deals that totaled $565 million, according to the analysis. Many of the deals are post-seed, explained Ryan Hittner, who leads work in AI and algorithmic trust at Deloitte, evidence that ideas and use cases for generative AI have been brewing for years. Companies that are successfully raising right now tend to be firms that have figured out how to win users’ trust, so they are not left wondering if AI output is truthful or AI input is private.
“Companies that have some kind of a trust AI and a transparency to the data being used—that’s a place investors will jump in,” Hittner said.
Here are three New York City companies in AI that have announced fundraising in recent weeks.