Friday Fundings Scale AI, Tempo, and Slice

Friday Fundings: Scale AI, Tempo, and Slice

AI Startup Raises $325 Million in Funding

Artificial intelligence startup Scale AI raised $325 million in venture funding, giving it a valuation of $7.3 billion. Scale AI helps companies gather the data they need to train AI applications. As AI gains popularity, the startup’s services have been in high demand.

The latest round of funding was led by Dragoneer, Greenoaks Capital, and Tiger Global. Other participants in the round included Wellington Management and Durable Capital. Since its inception in 2016, Scale AI has raised more than $600 million.

Home Fitness Gym Maker Raises $220 Million

Tempo, a home fitness equipment startup, raised $220 million in venture funding. SoftBank led the Series C round, but other investors included Bling Capital, DCM, General Catalyst, Norwest Venture Partners, and Steadfast Capital Ventures.

Tempo is among the startups that stepped up to fill a void during the pandemic when gyms were forced to close. Though some gyms are beginning to reopen, the company is still seeing high demand for its products. Tempo’s complete home gym includes a touchscreen and a 3D motion camera that scans and tracks users as they work out. The startup plans to use the money it raised to strengthen its supply chain, to create more content, and for research and development.

P.S. SoftBank is also an investor in SoFi.

Pizza Ordering Platform Raises $40 Million

Slice, a mobile pizza ordering platform, raised $40 million in a round of venture funding led by Cross Creek. The fundraising round also included participation by KKR (KKR), GGV Capital, and Primary Ventures.

Started in 2009 in New York, Slice helps pizzeria owners accept online orders and payments. Its services were helpful during the pandemic when restaurants had to shift their operations online. Slice has emerged as a leader in those efforts, partnering with 14,000 pizzerias across the country. The company didn’t disclose its current valuation from the latest fundraising round but it was valued at around $82 million last May.

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ABOUT Meg Richardson Meg Richardson is a writer specializing in markets, technology, and personal finance. She loves breaking down seemingly complex ideas and making them readable and interesting for everyone. She holds an MFA in writing from Columbia University. When she is not writing about finance, she enjoys running in Central Park and drawing cartoons.

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