Today, we look at the final five startups chosen by AI. ChatGPT selected these companies based on the startups’ answers about macro-economic pressures, their VC funding, the track record of their management team, and the growth potential of their market sector. I also used my own picks as models for ChatGPT to “learn” from. You can read more about the selection process here.
Exodigo
Year founded: 2021
Funding: $41M
Market sector: Mapping
What they do: Use sensor technologies, 3D imaging, and AI to create underground maps
How macro-economic turmoil is impacting their sector: “The difficulties construction and development players are facing right now offer opportunities for disruptive solutions like ours. Supply chain issues, high labor costs, and economic uncertainty are all making it harder to deliver capital projects, and we can help mitigate those risks.
“Our nonintrusive, comprehensive underground mapping solution makes capital development more efficient at every stage of the process, from feasibility and design through construction. By using multi-sensor fusion and AI, we can deliver more accurate maps of the underground, faster than ever before.” – Jeremy Suard, CEO of Exodigo
How they will navigate macro-economic pressures: “Exodigo is in a strong position to grow through this period of uncertainty, with a highly differentiated product that meets a clear market need. Unlike traditional locating methods, we don’t rely on existing records, which are often inaccurate.
“Understanding what’s underground without dangerous, expensive, highly pollutive excavating equipment is critical for our clients. Using our insights, teams can pinpoint exactly where utilities are and avoid costly delays. We are seeing continued market traction and a renewed interest in effective technological solutions for the underground challenge. We’ve been able to work with major players like National Grid, PG&E, Caltrans, and more, and we continue to build our client network across the United States, Israel, and Europe in 2023.” – Jeremy Suard
GitGuardian
Year founded: 2017
Funding: $56M
Market sector: Cybersecurity
What they do: Provide a code security platform
How macro-economic turmoil is impacting their sector: “Macro-economic turmoil is causing some delays when negotiating large enterprise deals. Increases of IP theft and piracy, on the other hand, creates opportunities. Overall, cybersecurity is not impacted much by budget reductions.” – Carole Winqwist, CMO of GitGuardian
How they will navigate macro-economic pressures: “This rise of different types of cyber threats and the growing attack surface of the typical business create an opportunity for us. Our solution protects companies against IP theft and piracy by preventing secrets, such as API keys, passwords, and certificates, from entering code. The cybersecurity market is growing overall, as are we. We multiplied our ARR by 4 in the past 2 years thanks to this dynamic.” – Carole Winqwist
Kasada
Year founded: 2015
Funding: $39M
Market sector: Cybersecurity
What they do: Defend against bot attacks
How macro-economic turmoil is impacting their sector: “Cybersecurity tends to do well even in tough markets, but the current market turmoil is causing people to prioritize solutions that do two things: work effectively and provide a measurable return on investment.” – Sam Crowther, CEO and co-founder of Kasada
How they will navigate macro-economic pressures: “Automated threats have a huge impact on online businesses. In addition, successful attacks – account takeovers, carding, fake account creation, and gift card cracking – destroy the trust and safety of conducting business online. Kasada helps to protect businesses’ reputation through invisible security that doesn’t sacrifice the user experience. The company’s solution is regularly and relentlessly updated, ensuring it remains effective in the face of the continuous evolution of attackers’ approaches. Our solution helps lower infrastructure costs, increase conversion rates, and limit the success of online fraud. The need for solutions like ours should increase even more, as AI-enabled tools (image recognition, chat, multi-modal), which are already helping attackers bypass CAPTCHA-based security approaches, become more sophisticated.” – Sam Crowther
Quris-AI
Year founded: 2019
Funding: $37M
Market sector: Pharmaceuticals
What they do: Provide a BioAI platform that predicts which drug candidates will safely work for humans
How macro-economic turmoil is impacting their sector: “The pharma AI sector is less impacted by the current market turmoil than other industries, but global regulatory shifts in favor of minimizing outdated (and inaccurate/unreliable) animal testing methods open the door for more opportunity for disruptive innovations to drive significant changes across the drug discovery and development lifecycle.” – Dr. Isaac Bentwich, CEO and founder of Quris-AI
How they will navigate macro-economic pressures: “As a startup targeting the junction of AI (the sector with the highest growth) and healthcare (defensive sector with inflexible demand), Quris-AI is perfectly positioned to continue to scale up.” – Dr. Isaac Bentwich
Syncari
Year founded: 2019
Funding: $23M
Market sector: Data automation
What they do: Customer data automation for B2B
How macro-economic turmoil is impacting their sector: “Macro-economic conditions have a bifurcated impact to startups. This financial climate has made investors nervous, which slows down deal volume and velocity. Investors are pulling back on growth investments and focusing on keeping their existing portfolio afloat.
“However, today’s tight labor market is prompting many businesses to consider no-code tools like ours that empower business users to manage data and distribute insights in ways that create efficient growth.” – Aaron Landgraf, Head of Marketing for Syncari
How they will navigate macro-economic pressures: “Syncari’s platform aligns with mission-critical business initiatives that seek to create more predictable, sustainable growth. The widespread need to find ways to better manage customer data creates tailwinds for us. We also invested early in building our partner ecosystem, which will not only ensure we have access to higher quality opportunities, but also helps us better navigate accounts where human resources might be unavailable.” – Aaron Landgraf
