Discover 20 New AI Companies to Watch in 2024

Gain data-driven insights on AI, an industry consisting of 118K+ organizations worldwide. We have selected 10 standout innovators from 62K+ new AI companies, advancing the industry with energy consumption analytics, advanced drug delivery, crop monitoring, materials discovery, and more.

The field of artificial intelligence (AI) is continuously developing with new AI companies developing novel solutions to solve industry-specific problems and automate time-consuming processes. These newcomers are advancing machine learning, natural language processing, and computer vision in diverse fields — from advanced cyber threat detection to improved diagnostic accuracy in medical imaging. AI is also enhancing customer service and supply chain management, providing more effective methods of handling client relations and logistics. This article identifies 20 new AI companies to watch in 2024. Each of these businesses showcases innovative uses of AI to propel business growth and provide significant solutions in their specialized domains.

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Key Takeaways

Drawing insights from the Big Data & AI-powered StartUs Insights Discovery Platform that provides data on over 4.7+ million emerging companies globally, we explore the evolving landscape of the artificial intelligence (AI) industry. This sector is marked by key trends and a substantial workforce, shaping its future. Here are some key insights at a glance:

  • Current Artificial Intelligence Trends: Some of the major trends impacting artificial intelligence are generative AI, computer vision technologies, advanced machine learning algorithms, large language models, and AI-based automation.
  • Artificial Intelligence Industry Stats: The global AI industry encompasses 118K+ organizations and has a workforce of 7.5 million people. With a shooting 12.31% annual growth rate, the industry has seen the emergence of 59K+ new AI companies in the past five years. These companies have an average workforce of 22 employees per organization and witness 2020 as the average founding year. They have also drawn considerable investment, with an average funding per round of USD 6.2 million.
  • List of 20 New AI Companies to Watch:
      1. Baseline Energy – Energy Consumption Analytics
      2. PerPlant – Sensor-based Crop Monitoring
      3. Overland AI – Autonomous Car Navigation
      4. Promilist – Maritime Route Optimization
      5. XBuild – Construction Operations Management
      6. CoSyne Therapeutics – Polymathic AI-based Drug Delivery
      7. MarianaAI – Medical Scribe Documentation
      8. OmniOrder – Food Supply Chain Optimization
      9. GovWise – Public Procurement AI Assistant
      10. LIDENBROCK – Lito-geochemical Data Analysis
      11. WellheadIQ – Oil and Gas Analytics Platform
      12. Hakware – Cyber Vulnerability Scan and Pentesting
      13. Dunia – Electroactive Materials Discovery
      14. Manglai – Carbon Footprint Measurement
      15. Orbotix – Advanced Battlefield Solutions
      16. CourtEasy.ai – Generative AI-based Legal Tech Solutions
      17. biped.ai – Mobility Guidance Wearable Device
      18. Levit8 AI – Contextual Candidate Screening
      19. Pontosense – Contacless Human-centric Sensing
      20. PennyFlo – Cash Flow Management

Discover 10 out of 59K+ New AI Companies to Watch

In this section, we spotlight 20 new AI companies that utilize machine learning, big data, and predictive analytics to increase agricultural efficiency, reduce energy waste, streamline construction projects, enhance maritime navigation, automate vehicle routing, optimize food logistics, and much more. Their technologies integrate advanced algorithms and AI-driven systems to improve decision-making accuracy, operational efficiency, and resource management. Read on to explore the diverse and innovative solutions these companies deliver across multiple industries. This report was last revised 5 days ago. See a missing piece? Your input can help — contact us.

Note on Signal Strength
One of the unique metrics we feature for each company is Signal Strength, a proprietary data point generated by our Discovery Platform. It gauges the extent to which a company’s influence has permeated the global ecosystem of startups, scaleups, and emerging companies. This proprietary metric serves as a valuable guidepost for understanding a company’s standing in the broader market landscape.

1. Baseline Energy

  • Founding Year: 2021
  • Employee Range: 2-10
  • Location: Norway
  • Signal Strength: Medium
  • What they do: Baseline Energy produces the Energy Speedometer, a gadget that delivers real-time data on power consumption, allowing businesses to measure usage, detect peak hours, and save money. The Energy Speedometer collects and sends consumption data to the cloud using current transformers (CT clamps) installed on the main electrical panel. An AI-powered web interface then converts this data into actionable insights. This allows organizations to monitor consumption in real time, create warnings for exceeding use thresholds, and measure progress toward sustainability targets. Baseline Energy promotes sustainability by reducing organizations’ carbon footprints through data-driven energy management.

2. PerPlant

  • Founding Year: 2022
  • Employee Range: 2-10
  • Location: Denmark
  • Signal Strength: Very Strong
  • What they do: Perplant provides tractors with a sensor system that uses real-time crop monitoring to optimize fertilizer and pesticide applications. The sensors employ machine learning algorithms to examine individual plants, allowing for more exact fertilizer delivery. This reduces waste by providing nutrients precisely where they are required, hence increasing production potential. Moreover, the solution uses image recognition to identify weeds and decide targeted herbicide treatments, eliminating needless spraying while saving important insects. Farmers monitor these application rates in real-time using a computer interface or mobile app. This way, Perplant allows farmers to increase crop yields, reduce environmental impact through reduced waste and pesticide usage, and enhance overall farm management by making informed decisions based on real-time data.

3. Overland AI

  • Founding Year: 2023
  • Employee Range: 11-50
  • Location: USA
  • Signal Strength: Very Strong
  • What they do: Overland AI builds OverDrive, a program that provides ground vehicles with autonomous navigation skills designed for off-road settings. It overcomes difficult terrains by utilizing stereo cameras to generate a real-time three-dimensional view of the environment. Path-planning algorithms use this perceptual data to create safe and efficient routes. OverDrive’s control technologies enable self-recovery, allowing the vehicle to escape adverse circumstances. This enables autonomous operation in a variety of sectors, including military vehicles, resulting in improved navigation and mission capabilities.

4. Promilist

  • Founding Year: 2022
  • Employee Range: 2-10
  • Location: Greece
  • Signal Strength: Very Strong
  • What they do: Promilist optimizes shipping routes for the marine sector using AI. To suggest the most effective routes, the software performs real-time analysis of a variety of data sources. This information includes ocean current patterns, weather forecasts, and precise vessel details like displacement, speed, and fuel efficiency. By taking these factors into account, the solution determines routes that reduce emissions and fuel consumption, which lets shipping companies save money and have a smaller environmental effect. Additionally, Promilist incorporates earth observation data into the route planning process at locations, taking into account variables like sea ice and wave height. This gives commanders a better image of the sea state in real time, allowing for optimal voyage execution and decision-making.

5. XBuild

  • Founding Year: 2022
  • Employee Range: 2-10
  • Location: USA
  • Signal Strength: Very Strong
  • What they do: XBuild provides an AI-driven construction platform that streamlines the processes of estimating, supplementing, and closing off projects. The software analyzes project data, such as blueprints, material lists, and past expenditures, using machine learning algorithms. Early in the building process, this analysis detects probable shortages of materials or cost overruns and gives first estimates. Moreover, contractors are able to upload images of damage or project modifications, and XBuild’s AI creates updated work scopes and gets the required insurance approvals, speeding up the process.

6. CoSyne Therapeutics

  • Founding Year: 2021
  • Employee Range: 11-50
  • Location: UK
  • Signal Strength: Very Strong
  • What they do: CoSyne Therapeutics aids in the development of customized medications for patients with brain cancer by utilizing its Polymathic AI. It combines specially created biological and chemical foundation models with various genetic information collections. In contrast to conventional drug discovery techniques that depend on generic screening, CoSyne Therapeutics’ AI generates a digital model of cellular activity by analyzing data on cellular responses to various chemical perturbations. This multi-layered analysis identifies precise molecular targets that have the potential to counteract specific patient mutations with higher accuracy.

7. MarianaAI

  • Founding Year: 2023
  • Employee Range: 11-50
  • Location: USA
  • Signal Strength: Very Strong
  • What they do: MarianaAI develops a platform, CARE, that streamlines healthcare workflows using AI. It acts as a virtual medical scribe that records doctor-patient conversations in real time via natural language processing (NLP). CARE automates medical coding and creates clinical notes. Additionally, the company provides MarianaGPT, a large language model (LLM) that generates customized reports and instructional materials to aid with patient communication. MarianaAI’s solutions thus allow medical professionals to improve patient care and streamline clinic operations.

8. OmniOrder

  • Founding Year: 2020
  • Employee Range: 2-10
  • Location: Australia
  • Signal Strength: Strong
  • What they do: OmniOrder by Optomni builds a platform that streamlines the fresh produce supply chain’s inventory, trading, and traceability. Through the analysis of past sales data and publicly accessible data sources, including weather patterns, it estimates demand and price elasticity. This enhances inventory control, which enables improved handling of write-offs and product downgrades. The platform’s grade-to-order capabilities and batch traceability allow for precise management of fresh items. It also connects producers, packers, and wholesalers across geographical boundaries and offers unified sales data that enables quicker and more informed supply choices. As a result, using OmniOrder they reduce waste and achieve increased operational efficiency.

9. GovWise

  • Founding Year: 2020
  • Employee Range: 11-50
  • Location: Portugal
  • Signal Strength: Very Strong
  • What they do: GovWise provides an AI-powered platform to automate procurement procedures for the public sector. Its machine learning algorithms perform real-time analyses of public procurement data repositories, consisting of market trends, historical bid data, and tender information. Using NLP for keyword matching and categorization, this analysis lets firms find relevant tenders and conduct thorough opportunity research. The platform utilizes anomaly detection algorithms to evaluate a company’s profile in relation to tender eligibility requirements, indicating any discrepancies before submission. Further, it integrates NLP and generative pre-trained transformers to automate proposal generation. This customizes proposals to specific tenders by including relevant information extracted from the tender documents and the company’s profile. Finally, the system also offers competition analysis by employing recurrent neural networks to find trends in previous bidding behavior.

10. LIDENBROCK

  • Founding Year: 2020
  • Employee Range: 2-10
  • Location: Chile
  • Signal Strength: Medium Strong
  • What they do: LIDENBROCK builds an app that enables miners and geologists to do multivariable data analysis using machine learning algorithms and data science methodologies. These algorithms include dimensionality reduction strategies to manage complex, high-dimensional datasets from diverse sources such as geophysical surveys, borehole logs, and geochemical analyses; clustering algorithms to segment data; and classification algorithms to identify particular geological features. It performs exploratory data analysis (EDA), in which users look for patterns, trends, and anomalies in the data using statistical techniques and interactive visualizations. Geologists obtain data-driven insights into the amount, quality, and geographical distribution of mineral deposits by detecting these traits. Thus, LIDENBROCK optimizes resource identification and mine planning by enabling geoscientists to make data-driven choices throughout the exploration and extraction processes.

 

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11. WellheadIQ

  • Founding Year: 2023
  • Employee Range: 2-10
  • Location: USA
  • Signal Strength: Medium
  • What they do: WellheadIQ develops a data analytics platform for oil and gas operators to optimize well performance. The platform uses various sensors to provide real-time data collected from wellhead locations. Along with pressure readings and other wellbore characteristics, this data also contains production volumes and the gravity (density) of oil and gas. The software then creates an analysis of well health by integrating this data with past well data and information from outside sources. Machine learning algorithms examine this data to find failing wells, forecast possible problems, and detect output patterns. Operators therefore use WellheadIQ to make data-driven choices about well intervention techniques, artificial lift optimization, and choke management.

12. Hakware

  • Founding Year: 2020
  • Employee Range: 11-50
  • Location: South Africa
  • Signal Strength: Strong
  • What they do: Hakware’s Archangel AI platform mimics the actions and strategies of hackers, allowing for the early detection and evaluation of system vulnerabilities. It prioritizes security activities according to the seriousness of hazards found, which expedites vulnerability identification and improves decision-making. Organizations are thus able to concentrate their efforts on high-risk areas by using this systematic strategy. Additionally, it dynamically adapts to new threats as it continually scans networks, systems, and apps for security flaws. Hakware thus minimizes exposure to possible cyberattacks and optimizes cybersecurity operations by reducing the need for laborious human security inspections.

13. Dunia

  • Founding Year: 2022
  • Employee Range: 2-10
  • Location: Germany
  • Signal Strength: Very Strong
  • What they do: Dunia advances materials discovery and accelerates innovation in the catalysis sector with its self-contained labs that employ a closed-loop Design-Make-Test-Analyze (DMTA) cycle. This approach combines robotic precision with AI to enhance the catalyst development process. Utilizing empirical data and basic laws of physics, the company’s physics-informed AI algorithms enhance the design phase to create novel, objective material designs that cater to certain performance characteristics. The robotic systems perform electrochemical tests to make every data point traceable and repeatable. To ensure that the results are scalable and usable in the real world, these tests mimic industrial environments. Dunia’s platforms analyze vast datasets to extract insights that propel iterative improvements, thereby completing the closed-loop cycle of materials innovation. This lowers environmental footprints by accelerating the identification of catalysts that enable the synthesis of green chemicals and fuels.

14. Manglai

  • Founding Year: 2023
  • Employee Range: 2-10
  • Location: Spain
  • Signal Strength: Medium
  • What they do: Manglai develops a carbon footprint measurement platform. offers a comprehensive platform. Through system integrations, the platform incorporates automated data categorization, bulk data loading, and invoice processing. The platform offers real-time tracking and visualization of carbon emissions. Its reduction module creates customized plans and monitors environmental goals, ensuring compliance with particular sustainability objectives. Moreover, Manglai’s models learn from fresh data inputs on a continual basis, enhancing the platform’s predictive skills with time. This enables forecasting future emissions patterns using past data and personalizing carbon reduction plans accordingly. The platform’s certification feature automates the maintenance of credentials following international standards, such as ISO 14064 and the GHG Protocol, ensuring formal acknowledgment of the companies’ environmental initiatives. Further, the platform’s communication features improve transparency by enabling businesses to report on and raise awareness of their sustainable progress.

15. Orbotix

  • Founding Year: 2023
  • Employee Range: 11-50
  • Location: Romania
  • Signal Strength: Medium
  • What they do: Orbotix provides AI-powered battlefield solutions. Its Wasper-1 microdrone uses AI and biomimicry to analyze the surroundings and fly autonomously. To identify obstacles and navigate through intricate settings, the OROS-X micro drone incorporates deep learning. Researchers and industrial operators use these drones to gather data from previously unreachable places. For the ground, Orbotix offers ATA, an AI-powered robot for automated inspection and data collection in confined spaces. Using this, utility firms and infrastructure operators increase the effectiveness and safety of inspections. Reco-X also uses AI and computer vision for autonomous mobile manipulation and real-time object detection. This robot automates manufacturing and warehouse duties, which benefits manufacturers and logistics organizations. Finally, Swor-AI is the development platform that enables rapid prototyping and deployment of AI-based robots.

16. CourtEasy.ai

  • Founding Year: 2023
  • Employee Range: 2-10
  • Location: India
  • Signal Strength: Medium Strong
  • What they do: CourtEasy.ai designs a generative AI platform that uses NLP and machine learning to automate and optimize legal document processing. Deep learning models precisely assess, write, and criticize legal text. Using text mining algorithms, it summarizes documents and reviews contracts by extracting relevant information from large legal texts. Moreover, the AI system finds differences and recommends contract changes to ensure adherence to legal standards. The integration of anomaly detection algorithms highlights possible problems and improves the due diligence procedure. The platform uses an advanced template-based engine to generate documents. This engine adjusts to the unique legal environment and requirements of each case, producing personalized drafts based on observed trends and input from users. In addition, the company lets lawyers communicate with the AI, set preferences, and edit drafts. This streamlines workflow integration and increases productivity in legal firms.

17. biped.ai

  • Founding Year: 2021
  • Employee Range: 2-10
  • Location: Switzerland
  • Signal Strength: Very Strong
  • What they do: biped.ai improves mobility for blind and visually impaired individuals through an AI-based harness system. Three ultra-wide angle cameras in this system scan a 170-degree field of vision from head to floor, improving perception of the surroundings, even at night. The system imitates the capabilities of a self-driving automobile by analyzing visual data to identify obstacles, from overhead branches to ground-level hazards. The gadget provides auditory signals that translate the physical environment into an understandable soundscape, alerting users to adjacent objects through spatial audio using bone conduction headphones. Additionally, it incorporates inside orientation by mapping open areas and precise GPS navigation for outdoor situations. The AI button on the gadget provides users with instantaneous spoken scene descriptions. biped.ai also offers workplace adaptations through customized navigation solutions that support accessibility in work settings. This aids visually impaired workers and guests to effectively navigate office environments, find meeting rooms, and avoid obstructions.

18. Levit8 AI

  • Founding Year: 2023
  • Employee Range: 2-10
  • Location: Singapore
  • Signal Strength: Medium
  • What they do: Levit8 utilizes its proprietary Artificial Intelligence Model (SLMTM) to simplify the hiring process. Being trained on 50 million+ parameters, SLMTM automates screening interviews and reviews resumes. Through the analysis of applicant data, this model identifies various hard and soft skills, ensuring a suitable match for certain job roles. The platform accelerates the selection process by supporting deep resume analysis and utilizing predictive analytics to evaluate applicant appropriateness based on performance potential and cultural alignment. Levit8’s AI recruiter also includes automated interviewing features that speed up the screening process and enhance applicant evaluation by providing insights from AI-driven data analysis. As a result, hiring managers are able to make well-informed decisions more rapidly. Additionally, the platform integrates with 50+ job boards and applicant tracking systems (ATS), further enabling an effective hiring process.

19. Pontosense

  • Founding Year: 2021
  • Employee Range: 11-50
  • Location: Canada
  • Signal Strength: Very Strong
  • What they do: Pontosense advances human-machine interactions with its mmWave RADAR sensor, utilizing patented contactless technology to transform commonplace devices into vital-sensing solutions. This sensor monitors biometrics including heart rate, breathing rate, and heart rate variability (HRV) by measuring micromovements as small as 0.2 millimeters. To improve applications in mobility and agetech, Pontosense combines these capabilities with its AI algorithms that link vitals to human emotions and actions. The sensor enables vital sign monitoring in cars, improves in-cab safety, and offers kid presence detection that complies with Euro NCAP guidelines. Moreover, Silver Shield, the company’s agetech product, uses the same mmWave technology to provide ambient vital monitoring for long-term care, including fall detection and health monitoring. Thus, caregivers, drivers, and businesses looking for safety and health monitoring solutions benefit from Pontosense.

20. PennyFlo

  • Founding Year: 2023
  • Employee Range: 2-10
  • Location: UK
  • Signal Strength: Medium
  • What they do: PennyFlo uses AI to simplify financial management procedures. By analyzing trends from linked bank accounts, the platform’s AI-driven cash flow forecasting enables users to see potential financial situations and make informed decisions. Simplified data inputs and scenario-based predictions improve this forecasting by making the financial planning process easier. Additionally, the system has budgeting and cost control features that, by tracking expenditures and enabling financial dashboard customization, enhance financial supervision. These solutions make it easier to approve budget management processes, which enable effective handling of overruns. The linked banking features of PennyFlo integrate with payment gateways and accounting software, offering two-way synchronization for better financial accuracy and real-time cash position updates.

Quickly Find New AI Companies to Watch

Utilizing a SaaS platform like the Discovery Platform for identifying new AI companies provides significant benefits compared to traditional scouting methods:

  • Increased Efficiency: The Discovery Platform offers advanced tools that streamline the scouting process. It replaces your hours of conventional desk research, saving time and resources in identifying AI innovations.
  • Access to Real-time Insights: Gain a competitive edge with up-to-date information on the latest trends in the AI industry. The platform keeps you informed with near real-time updates on emerging AI companies and news, enabling you to make swift and informed decisions.
  • Precise Scouting: Customize your search to focus on specific niches within the AI sector, such as conversational AI, advanced machine learning algorithms, or computer vision-based solutions. The platform’s diverse filtering options allow you to target your scouting efforts precisely, ensuring that you find the most relevant and groundbreaking companies in the field.

Ready to Explore All New AI Companies to Watch?

This overview highlights just a few AI solutions from all 59K+ new companies currently covered by the Discovery Platform. To explore them all, book a personalized demo or download one of our free Industry Innovation Reports for a quick overview. We value collaboration with industry professionals to offer even better insights. Interested in contributing? Get in touch!

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