The AI market saw record funding in Q2’21, despite a drop in deals. This was driven by 50 mega-rounds (deals worth $100M+), a new high.

Healthcare AI continued to have the largest AI deal share, accounting for 17% of all AI deals in Q2’21.

A total of 24 private AI companies reached $1B+ valuations for the first time in Q2’21. This shattered the previous record of 18 new AI unicorns in a single quarter, set in Q1’21.

Seed, angel, and Series A deal share continued to trend down, accounting for 55% of Q2’21 deals. Series B and C deal share trended up to account for 26% of Q2’21 AI deals.

AI exits increased 125% from the previous quarter. AI IPOs reached an alltime quarterly high of 11. UiPath went public at a valuation of $29B, the largest ever AI IPO listing.