Covid-19 has brought about a digital transformation that has put artificial intelligence in the driver's seat of most business models. Today, more and more companies are adopting an AI-based approach to their business innovation. A large number of AI-based companies are going public and enlisting in the stock markets across the globe. This article collates the top 5 AI companies Initial Public Offerings of 2021.
UiPATH INC.
UiPath Inc. employs AI and machine learning to negate "repetitive tasks" and "accelerate human achievement". CEO Daniel Dines wishes to create robots for every person. After a successful Series F funding which raised $750 million in February 2021, the company went public in April 2021 and its evaluation on the first day of trading on the NYSE was over $38 million.
BABYLON
Babylon is "one of the world's fastest-growing digital healthcare companies". Their mission is to make "high-quality healthcare accessible and affordable" for all via Alkuri Global Acquisition corp, a SPAC (Special Purpose Acquisition Company), Babylon, went public and was listed on NYSE on October 22, 2021. The company's valuation at IPO was $4.2 billion.
DARKTRACE
Darktrace is the world's leading AI for cybersecurity. Darktrace AI has the ability to prevent ongoing cyberattacks, including ransomware, email phishing, breaches to a cloud environment and critical infrastructure. The company enlisted on the London Stock Exchange on April 30 at 250p a share. Darktrace saw a huge surge in its share price to 358p on the day of its debut. It has raised £165.1 million from its IPO.
SENTINELONE
SentinelOne's platform safeguards the world's top organisations, including 3 out of the fortune 10. Companies like McKesson, Estée Lauder & Aston Martin trust SentinelOne to protect $Trillions of enterprise value across millions of endpoints. The AI cybersecurity company debuted on the NYSE on June 30 and is the "highest-valued cybersecurity IPO ever". The company has gained over $10 billion in capital from the IPO.
SENSETIME
Sensetime, China's "biggest AI firm", has been approved for an IPO by the Hong Kong Stock Exchange on October 19, 2021. The Chinese firm that dabbles in facial recognition technology, video analysing and autonomous driving will be seeking close to $1billion IN ITS IPO.
AI for the Win
Tech firms have seen a boom in their IPO listings since 2020. According to Harvard Business Review, AI integration in businesses has increased multifold since the pandemic. Many companies like Bumble, Duolingo, Zomato, which have gone public in 2021, have all incorporated AI within their business models. With more and more Unicorn AI companies seeking IPOs in the next five years, the AI industry will certainly witness an unfathomable boom.
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