Healthcare start-ups have topped GlobalData’s ‘Startup Scorecard’, which rates the top 50 AI start-ups across various sectors.
The data analytics company’s scorecard methodology comprises of three broad pillars: investment, innovation and market presence. It uses 13 KPIs from a pool of more than 10,000 start-ups across industries, themes and geographies.
Nine start-ups from the healthcare sector feature in the top 50 list, followed by eight from technology, five each from financial services and the transportation sector.
Apoorva Bajaj, practice head, financial markets at GlobalData, said: “AI, which is currently among one of the prominent disruptive technologies, has the potential to be a game changer across various industries.
“With several applications in machine learning, data science, conversational platforms and computer vision, AI is transforming businesses and disrupting a variety of industries globally.”
Furthermore, the ‘Startup Scorecard’ reveals that a total of US$47bn (£33.14bn) has been raised by the top 50 AI start-ups, starting from 2015, in various series of VC funding rounds from a total of 658 investors.
The scorecard also analysed the geographical split of the start-ups with 33 in the top 50 list based in the U.S and 10 located in China. The UK, France, Germany, and Switzerland also made their presence felt in the list.
The US based AI start-ups are predominantly active in healthcare and autonomous driving, with Chinese AI start-ups are primarily active in technology and retail sectors.
Bajaj added: “AI start-ups are driving tangible benefits in several industries with their unique offerings and remain firmly on investors radar with an eye on high return on investment.
“Additionally, more than half of the top 50 AI start-ups are in late stage followed by 21 in growth stage and two in early stage. The majority, 34, of the top 50 AI start-ups have raised Series D or subsequent rounds of VC funding.”
