21 generative AI startups to watch, according to investors

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VCs from Fly Ventures, Amadeus Capital Partners, Lightspeed Venture Partners, Speedinvest, Earlybird and Connect Ventures share their picks

sifted.eu/, Aug. 15, 2023 – 

Generative AI startups have raked in a record $620m so far this year, according to Dealroom.

Investors have been swept up in the kind of FOMO-driven deal-making that saw four-week-old French startup Mistral raise an eye-watering €105m in June despite having no product. UK-based Synthesia raised $90m, also in June, and Germany's DeepL picked €100m in January, which gave it unicorn status.

There seems to be no sign that VCs are losing interest – Sifted has seen a flurry of GenAI rounds drop into our inbox recently – so we can expect the money to keep on sloshing around the sector.

But which names might be reverberating around European tech soon? To find out, Sifted asked VCs from Fly Ventures, Amadeus Capital Partners, Lightspeed Ventures, Speedinvest, Earlybird VC and Connect Ventures for the generative AI startups they have on their radars. There was only one rule: investors couldn't mention portfolio companies.

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