The Crunchbase Unicorn Board welcomed ten fresh faces in May 2023, doubling April's count, yet trailing behind May 2022's substantial total of 34. These new unicorns were unveiled in an investment climate where leading unicorn investor, [Tiger Global](https://www.crunchbase.com/organization/tiger-global), contemplates offloading its private company stakes as unicorn portfolio evaluations continue to be revised downwards.

![](img/знімок-екрана-2023-06-18-о-20.05.57.png)

Of the ten additions, nine different industries are represented with AI claiming two spots at the top. The remaining unicorns each represent a distinct sector, including energy, biotech, robotics, enterprise SaaS, and transportation.

Half of the new unicorns originated from the U.S., with two emerging from China, while Canada, Indonesia, and Japan each contributed one. The month of May saw $5 billion of the total $22 billion global venture funding allocated to these unicorn companies, which is less than half of the $11 billion acquired by unicorns in May 2022. 

![](img/знімок-екрана-2023-06-18-о-20.06.14.png)

The biggest funding for the month was secured by [Shein](https://www.sheincorp.cn/), a fast-fashion e-commerce platform, raising $2 billion in one round at a decreased valuation of $66 billion.

***Here are the newcomers:***

## AI 

Toronto's [Cohere](cohere.com), an AI-based large language model creator for enterprises, raised $270 million in its Series C funding round, led by [Inovia Capital](https://www.inovia.vc/). This has valued the 4-year-old company at $2.2 billion. 

New York's [Runway](https://runwayml.com/), an AI firm specializing in generative video, secured $100 million in a Series D round led by [Google](https://thecymes.com/article/googles-bard-chatbot-made-a-factual-error-during-its-first-demo-the-mistake-cost-the-company-100-billion), achieving a valuation of $1.5 billion.

Another notable AI startup that warrants attention is IDvizer, a facial recognition technology provider striving to revolutionize business security solutions. Their latest offering, IDvizer's Fastest Face ID, is a B2B identity recognition platform that verifies end-users in less than a second, irrespective of the device in use. This product has made waves in the AI industry for its innovative approach to security and its ability to deliver unique user experiences across various fields. [Learn more about IDvizer and its Fastest Face ID in our previous article](https://thecymes.com/article/a-brand-new-way-for-businesses-to-verify-users-idvizer-builds-the-fastest-face-id).

## Energy 

[Ryefield Energy](https://www.fox-ess.com.cn/), a China-based battery energy storage firm, raised $140 million led by [Sparkedge Capital](https://www.crunchbase.com/organization/sparkedge-capital), reaching a valuation of $1.4 billion.

## Agtech 

[eFishery](http://efishery.com/), an Indonesia-based developer of IoT feeding devices and an e-commerce platform for aquafarmers, raised $108 million in a Series D round led by Abu Dhabi PE fund [G42 Expansion Fund](https://www.42xfund.com/), reaching a valuation of $1.3 billion.

## Cleantech 

Gradiant from Massachusetts, a company dedicated to aiding water-dependent enterprises in wastewater reduction and treatment, secured $225 million in a Series D round led by BoltRock Holdings and Centaurus Capital, thereby valuing the company at $1 billion.

## Enterprise SaaS 

Restaurant365, an Irvine, California-based restaurant management software firm, secured $135 million, hitting the $1 billion valuation mark. The funding round was led by private equity firms Kohlberg Kravis Roberts and L Catterton.

## Proptech 

New York-based Avenue One, a proptech firm providing a comprehensive service platform for rental property buyers, raised $100 million led by WestCap. This round valued the company at $1 billion.

## Transportation 

GO, Tokyo's premier ride-hailing app, secured $72 million in a Series D round led by Goldman Sachs, which valued the company at $1 billion.

## Robotics 

Zhiyuan Robotics, a Shanghai-based humanoid robot developer, raised a funding round led by Baidu Capital, achieving a $1 billion valuation. The exact amount raised remains undisclosed.

## Biotech 

Chicago's VectorBuilder, a firm specializing in gene delivery technology, completed a funding round that saw the company reach a valuation of $1 billion.

Correction: Cohere's funding round has been updated to $270 million and its valuation to $2.2 billion based on an updated funding announcement.

[The Crunchbase Unicorn Board](https://www.crunchbase.com/lists/exited-unicorns/9436a996-90a9-40bc-91c0-a7d239de07f1/organization.companies) is a curated list of privately-held unicorn companies valued at $1 billion or more, based on Crunchbase data. Additions are made as companies hit the $1 billion mark during funding rounds. Internal company valuations are not reflected, as these often differ and are usually lower than a priced funding round. Adjustments are not made for investor writedowns, which vary quarterly, as different investors may not consistently value the same company within the same quarter.

Please note that all funding values are in U.S. dollars unless specified otherwise. Foreign currency transactions are converted at the historic spot price even if they were added to Crunchbase long after the event was announced.

Illustration: Dom Guzman\
Photo by [Alex Rybin](https://unsplash.com/@alexrybin?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText) on [Unsplash](https://unsplash.com/images/animals/unicorn?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText)\
\
*Note: The information provided in this article is sourced from Crunchbase News, and presents an analysis of the emerging unicorns and investment trends in May 2023*


 Explore the dynamic shift in the unicorn landscape in May 2023, featuring an increase in AI startups, fluctuating venture funding trends, and diverse industry representation. Get detailed insights into the new unicorns' origin, industry, and valuation.

May 2023 Unicorn Expansion | AI Dominance & Global Venture Funding Insights

May's Double-Digit Unicorn Growth Highlights Two AI Players

# Artificial intelligence in psychotherapy: a new frontier or a threat to humanity?

Psychotherapy, for a long time considered exclusively the sphere of human interaction, is transforming today under the influence of the rapid development of AI. Chatbots, self-help apps, and remote counselling platforms based on machine learning algorithms are slowly entering our lives, promising new opportunities in mental health. But how useful are these innovations, and what risks do they carry?

## Accessibility and personalization: The benefits of AI in psychotherapy

One of the main benefits of AI in psychotherapy is accessibility. Conventional therapy is often limited by geographic barriers, high cost, and lack of skilled professionals. AI tools, by contrast, can provide 24/7 support tailored to a user's individual needs at a significantly lower cost, and in some cases at no cost.

Apps using cognitive behavioral therapy (CBT) have shown effectiveness in combating depression and anxiety disorders by offering structured programs and personalized tasks. For example, [Woebot](https://spectrum.ieee.org/woebot) Health provides a CBT-based chatbot that helps users deal with negative thoughts and emotions. Users interact with Woebot via text messages, receiving real-time support and recommendations.

Another example is [Wysa](https://www.wysa.com/for-individuals), which offers an AI assistant for support in everyday life. The app provides more than 200 digital self-help tools, including mindfulness exercises, breathing practices, and relaxation techniques. Wysa also offers the ability to communicate with qualified professionals for additional support.

### Specialist support: AI as an assistant, not a replacement

AI can help psychotherapists in their work. Algorithms are able to analyze large amounts of data, identifying patterns in patient behavior that may be overlooked by humans. This allows specialists to more accurately diagnose problems, develop personalized treatment plans, and track progress. In addition, AI can automate routine tasks such as record-keeping and reporting, freeing up time for deeper patient interactions.

Spring Health uses AI to personalize psychotherapeutic care. Their platform analyzes patient data to find the most appropriate treatments and specialists. This helps to reduce waiting times and increase the effectiveness of therapy.

### Empathy as a non-programmable quantity

But for all the efficiency of algorithms, the key question remains: can AI replace human understanding and empathy? Psychotherapy is not just the application of techniques, but the process of establishing a deep, trusting connection between two people.

AI can recognize the tone of speech, choose the right exercise, but it does not "feel" pain, doubt, or guilt. It doesn't interpret silence, it doesn't pick up semitones, it doesn't make a genuine connection. As psychotherapist Laurie Gottlieb said, "a person's presence and attention is something that heals, not an algorithm".

Philosophically, the question here is: can psychotherapy without a person be truly therapy, or does it become only an improved form of self-help?

## Risks: privacy, addiction, and the illusion of help

AI in psychotherapy is associated with several dangers:

1. Copyright/IP Policy. Psychotherapeutic sessions contain sensitive information, and leaks or breaches of systems can be devastating. For example, in 2023, there was a large-scale scandal with data leakage from the BetterHelp application - more than 7 million users were at risk.
2. Dependence on technology. If a person begins to rely solely on a chatbot, this can weaken their motivation to develop communication skills, self-reflection, and real interaction. "Pattern psychotherapy" appears, where depth is replaced by speed.
3. Security illusion. Some users may perceive AI as a complete replacement for a therapist without realizing the limitations of the technology. But AI has no right to diagnose, it is not responsible - it can be dangerous in crises.

## The future of psychotherapy

The future of psychotherapy likely lies in a symbiosis of human experience and artificial intelligence capabilities. AI will be used to increase access to care and make treatments more effective, while maintaining the centrality of the human therapist and their capacity for empathy and understanding.

It is important to develop ethical standards and regulations for the use of AI in psychotherapy to ensure the safety and effectiveness of such tools. More research also needs to be done to assess the long-term effects of AI use in mental health.

Ultimately, artificial intelligence can be a powerful tool in the psychotherapy arsenal, but it should not replace the human interaction that underpins effective treatment.

What are the pros and cons of AI in psychotherapy?

AI against anxiety: how GPT models are becoming next-generation therapists

As Europe accelerates its mission to supercharge the continent’s AI readiness and digital economy, influential leaders rallied together at the GITEX EUROPE x Ai Everything press preview this Wednesday in Berlin to address the strategic imperatives, progressive commitments and investments aimed at transforming Europe’s tech industry and talent pool into powerful engines driving the AI leadership agenda. 

[GITEX EUROPE x Ai Everything](https://event.gitex-europe.com/visitor-registration/?utm_source=thecymes&utm_medium=mediapartner&utm_campaign=20250428-gitexeurope25-visitors-partner), taking place from 21–23 May at Messe Berlin, brings together over 1,400 tech companies and startups exhibiting from 67 countries and 600-plus investors, with the mission of igniting a future where big tech, startups, and SMEs can access solid, scalable, and sustainable public digital infrastructure - from data centres, cloud connectivity to semiconductors - and enable a more flexible regulatory framework to fast-track the AI Continent vision. 

The event is organised by KAOUN International, in partnership with the Berlin Senate Department for Economics, Energy and Public Enterprises, Germany’s Federal Ministry for Economic Affairs and Climate Action, Berlin Partner for Business and Technology, and the European Innovation Council (EIC).

![](img/ai-01.jpg)

## Addressing Europe’s Digital Priorities Amid Changing Global Dynamics

In the lead-up to the show, senior government officials, investors, and ecosystem leaders echoed the progressive economic impact of the GITEX platform and its role in catalysing public-private partnerships, cross-sector collaborations, digital competitiveness, and multi-sector investments, while also reaffirming Germany and Berlin readiness, accessibility, and momentum to connect with the global tech ecosystem.

Kai Wegner, Governing Mayor of Berlin, remarked, “The GITEX tech fair is taking place in Berlin for the first time. This is a big achievement that confirms Berlin’s importance as an international location for industry events and innovation. Berlin is Germany’s startup capital and one of the top three cities for startups in Europe, alongside London and Paris. With GITEX, Berlin can further develop this leading position and gain additional momentum on the way to becoming Europe’s number one innovation hub.”

Franziska Giffey, Mayor of Berlin & Senator for Economic Affairs, added, “Berlin and GITEX are a perfect match. Together, we build a unique opportunity for industry innovators, startups and\
scale-ups to meet, foster progress and fuel economic growth. As Europe’s startup and innovation capital, and as a city deeply rooted in the spirit of international cooperation, we cordially welcome all GITEX EUROPE participants to Berlin.” 

Trixie LohMirmand, CEO of KAOUN International and organiser of GITEX worldwide, shared, “Germany as the world's third largest economy and GITEX as the world's largest tech event brand across continents have a shared commitment to forge collaboration in research and application of tech to solve global challenges.

The inaugural edition of GITEX in Germany shall be the largest tech and digital investment launch ever in Europe, and certainly the most global with over 90% of its international startups choosing to experience the trendy Berlin innovation hub for the first time. This is a powerful time in the epoch of Berlin with GITEX marking the symbolic rise of a bolder and more competitive Europe.”

Matthias Notz, Global CEO, Start2 Group, reinforced the call for startup acceleration: “the European startup ecosystem is bursting with breakthrough ideas and talent, yet what we need now is a recalibrated rhythm, where European nations join forces to empower founders, startups, and especially scale-ups, and where funding moves as fast as ideas do.”

![](img/left-to-right-kai-wegner-trixie-lohmirmand-and-franziska-giffey.jpg)

## European-Led, Global Convergence of Tech & Business

With participation from 34 European states, the event unlocks fast, seamless corridors for Pan-European as well as global digital trade, with prominent tech pavilions from France, Italy, the Netherlands, Poland, the UK, among many more. During the press briefing, representatives from the Embassy of Netherlands, Britain and Italy commented on the importance of aligning innovation agendas and deeper cross-ecosystem integration.

Speakers included Robert-Jan Sieben, Head of Economic Department, and Eva Vergles, Startup Liaison Officer, Embassy of the Kingdom of the Netherlands Berlin; Benjamin Wannenwetsch, Deputy Director & COO, British Embassy Berlin; Francesco Sordini, Head of Economic Affairs, Italian Embassy Berlin; and Francesco Dell’Anna, Deputy Director, Italian Trade Agency.

## Europe’s Innovation Potential Scales Globally with North Star Europe

In a defining moment for Europe’s entrepreneurial landscape, GITEX EUROPE x Ai Everything features North Star Europe, the region’s exclusive edition of the world’s largest startup showcase, uniting over 750 startups including 32 unicorns, from growth-stage AI pioneers to deeptech scale-ups, representing over 60 countries, alongside over 600 global investors with $1 trillion assets under management (AUM). 

At the press briefing, leading founders from Germany and Poland spoke about how GITEX platform enables new capital routes, global connections and visibility, especially in today’s mercurial market environment. Among them were Germany’s mobility budget platform Navit & AI-powered Industrial tech for manufacturing efficiency Ailoys, and Poland’s BrainScan, the AI-fueled startup transforming medical imaging with faster and more accurate diagnoses which has achieved significant success across Europe.

### The Most Comprehensive Deep Dive Across Tech Frontiers 

From AI and quantum breakthroughs to climate-driven innovations, each sector-led showcase unpacks the technologies reshaping industry, security, and sustainability at systemic scale.

Ai Everything Europe dives into scaling AI and its potential in recalibrating economic transformation with industry use-cases and talks from AWS, IBM, Cisco, Lenovo, Nvidia, Open AI, Qualcomm, SAP, among others. 

GITEX Quantum Expo (GQX), in partnership with IBM and Quantum Business Network (QBN), spotlights the advanced research and exponential business impact from IBM Research, CERN, INRIA, IQM Quantum Computers.

GITEX Cyber Valley reinforces cyber resilience and threat response with frontline showcases, exclusive programmes and activations from CrowdStrike, Fortinet, Kaspersky, Knowbe4, Proofpoint and many more, alongside talks with defence ministries and global CISOs from Germany, UAE, and Belgium.

Green Digital Action Summit, hosted in partnership with ITU and the German Environment Agency (UBA), focuses on accelerating tech-driven climate action and tackling key priorities – from AI intricacies to adoption of green technical standards.

GITEX Green Impact connects green tech founders and investors, with featured speakers from Airbus, Honeywell, and TotalEnergies, accelerating the commercialisation of bioenergy, green hydrogen, storage and electric mobility.

GITEX SMEDEX, backed by EISMEA and the ICC Digital Standards Initiative, includes a showcase and an expertly curated conference which empowers the engine of European economy - SMEs, by unlocking new opportunities for international trade, funding, and legal advisory. 

GITEX ScaleX, in partnership with AWS, focuses on scale-ups and late-stage companies seeking new market entries, mentorship and corporate partnerships.

GITEX EUROPE is part of the GITEX global network of tech and startup events, taking place in Germany, Morocco, Nigeria, Singapore, Thailand, UAE, and Vietnam. For more information, visit: [www.gitex-europe.com](https://www.gitex-europe.com/?utm_source=PR&utm_medium=press-release&utm_campaign=press-preview)

### About GITEX EUROPE

GITEX EUROPE x Ai Everything 2025, Europe’s most global, collaborative, and cross-industry tech event, taking place from May 21–23, 2025, at Messe Berlin, Germany. Convening over 1,400 exhibiting enterprises, SMEs and startups from 67 countries, alongside over 500 expert speakers across AI, Deep Tech, Quantum, Cybersecurity, Connectivity, Smart Cities, Green Tech, and many more, GITEX EUROPE x Ai Everything is advancing the continent’s digital future in partnership with the world. This inaugural edition features the new SMEDEX, GITEX SCALEX, and GQX, and brings to Germany the world’s largest and best-rated startup and investor event – North Star Europe. GITEX EUROPE x Ai Everything is seamlessly connected with GITEX network of tech and startup events in Germany, Morocco, Nigeria, Singapore, Thailand, and the UAE. For more information, please visit: [www.gitex-europe.com](https://www.gitex-europe.com/?utm_source=PR&utm_medium=press-release&utm_campaign=press-preview)

GITEX EUROPE x Ai Everything gears up for Berlin debut as influential leaders and policymakers preview bold cross-border tech partnerships, capital access, and AI economy acceleration

European Al Continent Agenda Gains Global Momentum at the Largest Inaugural Tech, Startup & Digital Investment Event 

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