1. Deals Analysis
March 25, 2021

Technology industry artificial intelligence venture financing deals total $2.96bn in North America in February 2021

By Carmen

Total technology industry artificial intelligence venture financing deals worth $2.96bn were announced in North America in February 2021, led by $750m venture financing of UiPath, according to GlobalData’s deals database.

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The value marked an increase of 155.2% over the previous month of $1.16bn and a rise of 159.7% when compared with the last 12-month average of $1.14bn.

North America held a 71.15% share of the global technology industry artificial intelligence venture financing deal value that totalled $4.16bn in February 2021. With a 68.99% share and deals worth $2.87bn, the US was the top country in North America’s artificial intelligence venture financing deal value across technology industry.

In terms of artificial intelligence venture financing deal activity, North America recorded 87 deals during February 2021, marking an increase of 7.41% over the previous month and a rise of 11.54% over the 12-month average. The US recorded 79 deals during the month.

North America technology industry artificial intelligence venture financing deals in February 2021: Top deals

The top five technology industry artificial intelligence venture financing deals accounted for 49.1% of the overall value during February 2021.

The combined value of the top five technology artificial intelligence venture financing deals stood at $1.45bn, against the overall value of $2.96bn recorded for the month.

The top five technology industry artificial intelligence venture financing deals of February 2021 tracked by GlobalData were:

1) Alkeon Capital, Altimeter Capital Management, Coatue Management, Dragoneer Investment Group, IVP, Sequoia Capital VI and Tiger Global Management’s $750m venture financing of UiPath

2) The $200m venture financing of PlusAI by CPE Capital, Guotai Junan International, Hedosophia, Jinsha River Ventures, Lime Brokerage, Manbang Group, Mayfield Fund, Science Applications International, Sequoia Capital Operations and Wanxiang International Investment

3) Bain &Inc, ICONIQ Growth, Madrona Venture Group, OpenView Advisors, Salesforce Ventures, Sapphire Ventures, Shasta Ventures Management and Tiger Global Management’s $200m venture financing of Highspot

4) The $150m venture financing of SStandard Cognition by Charles River Ventures, EQT Ventures Fund, SK Networks, SoftBank Vision Fund II and TI Platform Management

5) Bond Capital Partners (UK), Prologis Ventures, Scale Venture Partners and Tiger Global Management’ venture financing of Locus Robotics for $150m.

Verdict deals analysis methodology

This analysis considers only announced and completed cloud-deals deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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