Industry Report: Big Data & AI Industry Is Booming
Big data & AI industry is gaining popularity and attention but how does the industry funding look like?
Big data and artificial intelligence startups have been gaining a lot of attention lately so we decided to dive into our data to see if the industry funding is reflecting on the trend.
Stable funding and increasing round-sizes
The industry funding started gaining traction already back in 2013 reaching a peak in 2014. That year, the industry startups gained more than $10bn in funding.
Over the years, the funding has stayed the same but the number of rounds has decreased. This tendency means the round-sizes have gotten bigger over time. For example, in 2017 the average round-size reached $16m.
Southeastern Europe is taking the lead
Looking at the share of total funding going to the big data and AI industry in Europe, we can see that Romania stands out with over a half of the country’s funding going to startups in the industry. This is mainly due to a robotic process automation startup called UiPath.
Southeastern Europe has a relatively high amount of countries whose share of total startup funding going to the big data and AI industry is higher than in other parts of Europe.
North American startups are leading the industry funding-wise
North America has the highest funding of big data and AI startups out of all the regions with $35bn going to the industry. It also reflects in the top industry’s startups, where nine out of ten are headquartered in the US.
Industry funding in Asia is slightly higher than in Europe, but the overall share of the total funding going to the industry is almost the same.
The full report is completely free and available for download here: markets.funderbeam.com/reports
