Y Combinator, the famed Silicon Valley startup accelerator, on Wednesday kicked off a two-day “Demo Day” event to showcase what companies from its latest YC batch, S24, are building.
As expected, the focus of the day was AI companies, with startups such as Elayne, which is trying to apply the technology to issues like estate planning and probate, Baseline AI, which is working on automating clinical trial data, and Passage, which helps companies clear goods through customs.
Sectors that have dominated YC cohorts in the past, such as fintech, healthcare and Web3, were noticeably quiet or completely absent from Wednesday's presentations.
Here are some companies worth keeping an eye on from Demo Day 1: Spoiler alert: Nearly every company is using AI.
Business description: Automating baggage movement at airports with robots
Why we love it: Considering that collecting and moving baggage at airports is an entirely manual and sometimes dangerous process, this seems like an ideal use case for robots. This might be technology that airports are actually willing to pay for.
Capabilities: AI automation of clinical trial documentation
Why I love it: I love anything that aims to run clinical trials better and faster, given how important they are to the process of bringing new drugs and treatments to market. The company claims it will save the company $18 million in costs and lost revenue, which seems like a noteworthy improvement.
Features: AI-powered estate planning and inheritance
Why we love this: As someone who's watched families go through this process, I'm glad someone is building a better solution. Plus, Elayne's attempt to reach consumers through their employers is a clever way to get more people thinking about this before they need to.
Feature: Automated testing of AI voice agents
Why we love it: There are tons of startups building customer support AI systems, but do they work? We think Hamming's strategy of testing these AI customer service bots is a necessary offering in this growing ecosystem.
Business: Data center in space
Why we like it: This company stands out because, while it seems like an extreme moonshot, it's already got customers and is set to launch a demonstration satellite next year. The concept of using solar energy to power data centers might be something we'd like to explore here on Earth.
Function: Helping cities optimize transportation
Why we like it: Ontra Mobility's commitment to helping local governments make better use of public transport options is a solid one. Most cities don't have the budget to expand public transport options despite their growing population, so it makes sense to find ways to make smarter use of existing options.
Function: AI-assisted customs clearance support
Why we love it: Considering how easy it is for a consumer to have their package stopped at customs, it's easy to imagine how complicated the import process is for businesses that regularly transport large amounts of goods across borders.
Feature: AI price optimization
Why we like it: This is a really interesting approach to e-commerce pricing. Promi's AI aims to help businesses offer data-driven variable discounts to customers, which change based on their interests and activity. This makes a lot of sense.
Features: TurboTax for building tax deductions
Why we love it: Personally, I love any company that helps consumers and other businesses take advantage of government incentives, and I particularly like RetroFix's approach because they're helping contractors access government funding to make their buildings more sustainable.
Capability: Automate government approvals for construction projects
Why we like it: This is a fit-for-purpose application for which AI was made. SchemeFlow's software helps construction companies automate technical reports, shortening the process to minutes. What's even more impressive is that this young company has already generated reports for over 400 construction projects.
Feature: Synthetic datasets for visual models
Why I like this: There is limited quality data available to train large language models, so many LLM companies are tempted to obtain data from sources they shouldn't or aren't allowed to obtain. Help stop AI companies from obtaining data illegally. Sounds like a good goal to me.
What they do: A network of space refueling stations
Why we like it: The space industry is booming, with many entrepreneurs looking to build satellites, rockets, and other devices to send into space. Starting a company to service this growing economy seems like a smart strategy.
What they do: Helping businesses become employee-owned
Why we like it: Their mission of helping companies transition to employee ownership is novel. Selling a company to employees helps create employee wealth and generally results in higher profits for the seller. It seems like a win-win.