AI startups AuxoAI and Otter secure significant funding

Two artificial intelligence companies have announced major funding rounds to expand their enterprise capabilities. San Francisco-based AuxoAI has raised $20.7 million in a Series A round led by Silicon Valley venture capital firm NTTVC. The startup, which provides an AI workbench called Damia to build custom workflows, intends to use the capital to expand its talent pool of forward deployed engineers, deepen ecosystem partnerships, and invest in its proprietary technology.

Separately, Otter.ai has secured $320 million in growth financing from General Catalyst’s Customer Value Fund. The company, which specializes in AI-driven transcription and conversational knowledge, plans to invest the funds into international expansion, product innovation, and enterprise growth. Otter.ai currently serves over 40 million users and reports that its platform is used by more than 86% of Fortune 500 companies.