"With AI igniting an investor frenzy, every month, more startups obtain unicorn status. Using data from Crunchbase and PitchBook, TechCrunch tracked down the VC-backed startups that became unicorns so far this year. While most are AI-related, a surprising number are focused in other industries like satellite space companies Loft Orbital and blockchain-based trading site Kalshi. This list will be updated throughout the year, so check back and see the latest powerhouse startups that are now worth over $1 billion."
"November Genspark - $1.25 billion: This company builds AI agents to help automate tasks. It raised a $275 million Series B, giving it a $1.25 billion valuation, according to Forbes. Backers include Emergence Capital Partners and LV Technology Ventures. The company was founded in 2023. Gamma - $2.1 billion: This company, which creates AI-generated visuals, such as websites, announced a $68 million Series B led by a16z, giving it a $2.1 billion valuation, as TechCrunch previously reported. The company launched its first product in 2022."
"October Modal - $1.1 billion: This AI cloud computing platform, founded in 2021, last raised an $87 million Series B, giving it a $1.1 billion valuation, according to Pitchbook. It counts Lux Capital and Redpoint Ventures as investors and has raised around $110 million in funding to date. Fireworks AI - $4 billion: This AI infrastructure platform for open source models, founded in 2022, last raised a $250 million Series C giving it a $4 billion valuation, according to Pitchbook. It counts Benchmark Capital and Index Ventures as investors and has raised more than $320 million in funding to date. Substrate - $1 billion: This semiconductor fabrication company, founded in 2022, last raised a $100 million seed round giving it a $1 billion valuation, according to Pitchbook. It counts Valor Equity Partners and Founders Fund as investors."
A surge in AI investment has pushed many venture-backed startups to unicorn status this year, with monthly additions across sectors. Most recent unicorns center on AI capabilities such as automation agents, generative visuals, cloud compute for models, and open-source model infrastructure. Several notable unicorns operate outside pure AI, including satellite space firms and blockchain-based trading platforms. Recent examples include Genspark ($1.25B) building AI agents, Gamma ($2.1B) producing AI-generated visuals, Modal ($1.1B) as an AI cloud platform, Fireworks AI ($4B) for open-source model infrastructure, and Substrate ($1B) in semiconductor fabrication.
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