Newnex’s latest edition of Top Tech and Venture Capital News provides a comprehensive overview of significant events in the technology and investment space.
- Venture Capital has an exit problem Read more
- OpenAI Launches Advanced Voice Mode for ChatGPT: OpenAI has begun rolling out its Advanced Voice Mode, offering hyper-realistic audio responses to a select group of ChatGPT Plus users, with a wider release planned for fall 2024. Read more
- Tech Giants Face AI Investment Challenges: Despite stock market penalties, tech companies argue that the risks of underinvesting in AI are greater than overinvesting. Read more
- OpenAI's Valuation Hits $80 Billion: OpenAI has reached an $80 billion valuation following a strategic share sale led by Thrive Capital, reflecting significant interest in AI technologies. Read more
- Web3 Startups Secure $1.1 Billion in July: Venture capitalists invested over $1.1 billion across 118 deals in Web3-based startups in July. Read more
- BNP Paribas to Acquire AXA IM: BNP Paribas is set to acquire AXA Investment Managers, including a management buyout of AXA VP. Read more
- BendingSpoons Acquires WeTransfer: Italian company BendingSpoons has acquired the file transfer service WeTransfer. Read more
- Advancements in Solid-State Battery Technology: New solid-state battery technology promises up to 600 miles on a single charge. Read more
- Satellite Milestone: Humanity has launched 10,000 satellites, with Starlink accounting for over 6,500. Read more
- Google Abandons Third-Party Cookie Phase-Out: Google has decided to abandon its plan to phase out third-party cookies in Chrome. Read more
- UK Boosts Quantum Technology Funding: The UK has allocated £100 million to establish five quantum technology hubs across England and Scotland. Read more
- India's Private Capital Exits: India saw $25 billion in private capital-backed exits in 2023 and $11.5 billion in the first half of 2024. Read more
Startups fundraising track - we tracked $2.4billion funding rounds between Asia, Israel, Europe and the US.
Total $450 million raised by Startups in Asia and Israel:
- Rapido (India): Ride-hailing startup raised $120 million, entering unicorn club, led by WestBridge.
- Matter Motor (India): EV maker raised $35 million in Series B funding.
- Meragi (India): Wedding services startup raised $9.1 million in Series A led by Accel.
- DeepC (Germany): Radiology AI startup raised €30 million (approximately $33 million).
- Mayhem Studios (India): Mobile gaming studio raised an undisclosed amount from Lumikai.
- DruCare (India): Healthtech startup raised $1.2 million in pre-Series A funding.
- Dezerv (India): Wealthtech startup raised ₹265 crore (approximately $32 million) in Series B funding.
- Immuneel Therapeutics (India): Raised ₹100 crore (around $12 million).
- Timbuckdo (India): On-demand talent platform raised ₹2 crore (approximately $240,000).
- AryaAg (India): Agritech startup raised $29 million.
- Lakera AI (Switzerland): AI safety startup raised $20 million.
- Caldera (Israel): "Rollup-in-a-box" platform raised $15 million from Peter Thiel's venture fund.
- CytoReason (Israel): AI healthcare startup raised $80 million.
- Partior (Singapore): Blockchain settlement startup raised $60 million.
- IVP Semi (India): Chip company raised $5 million.
Europe - Total startup funding $387.7 million
- Flo Health (UK): Women's health app raised over $200 million, achieving unicorn status.
- 4D Medicine (UK): Biomaterial startup raised £1.1 million (around $1.4 million).
- Ocula (UK): E-commerce analytics platform raised an undisclosed amount in Series A funding.
- Cognisyc (Romania): Received investment from Early Game Ventures, amount undisclosed.
- Plum (UK): Financial wellness platform raised $10 million.
- Maurten (Sweden): Sports nutrition company raised €20 million (approximately $22 million).
- Kolum (Germany): Raised €21 million (around $23 million) in pre-seed funding.
- LegalFly (Turkey): Legal services AI startup raised $15 million.
- Hero Software (UK): SaaS platform for tradespeople raised $40 million in Series B funding.
- Adam (Czech Republic): Home improvement platform raised €3 million (approximately $3.3 million).
- Soda (Belgium): AI data quality startup raised $14 million.
- Planqc (Germany): Quantum startup raised $54 million.
- Helsing (Germany): Defense startup valued at $5 billion following its latest funding round.
- Switchee (UK): Smart home technology startup raised $5 million.
USA startups raised c. $1.6 billion
- Q Bio (USA): Preventative health scan startup raised an undisclosed amount for new MRI machine development.
- Runway (USA): AI video startup reportedly seeking to raise $450 million.
- Magic (USA): AI coding startup seeking $1.5 billion valuation in new funding round.
- Posh (USA): Event startup raised $22 million.
- Vanta (USA): Internet security startup raised $150 million in Series C funding.
- Monarch Tractor (USA): Autonomous electric tractor company raised $133 million.
- Third Arc (USA): Oncology and immunology startup launched with Series A funding, amount undisclosed.
- Harvey (USA): OpenAI-backed legaltech startup raised $100 million.
- Heeler (USA): Application security company raised $8.5 million.
- Cohere (Canada): AI startup raised $500 million.
- Sentient Labs (USA): AI and crypto startup raised $85 million, led by Peter Thiel.
- Hebbia (USA): AI document search tool raised $130 million.
Founders' Speak:
An interview with Eleven Labs founder about raising $101 million in 2 years - Read more
Venture Capital funds launched with $3.6 billion dry-powder
- Tenzing Fund III has successfully closed with a substantial fund size of £900 million, equivalent to approximately $1.15 billion USD. This fund, based in the UK, focuses on technology investments and marks a significant milestone for Tenzing as it aims to support innovative tech companies. Read more
- Trill Impact has launched its inaugural venture fund, raising €90 million (around $98 million USD). This fund targets early-stage companies in Europe that are driven by impact, particularly those addressing global challenges aligned with the UN Sustainable Development Goals. Read more
- Forestay Capital has closed its fifth fund with a total of $220 million, specifically focusing on early-stage technology startups in Israel and Europe Read more
- 13books Capital has raised £95 million, which is approximately $121 million USD, to establish a venture capital fund that concentrates on fintech investments. This fund seeks to capitalize on the growing fintech sector. Read more
- venBio has raised $528 million for its fourth fund, focusing on investments in life sciences, which aims to support innovative healthcare solutions. Read more
- ICONIQ Growth has wrapped up its seventh fund with a remarkable size of $5.75 billion, targeting growth investments in technology across a global landscape. Read more
- Index Ventures has successfully raised $2.3 billion, which will be allocated to both venture and growth investments in technology startups globally. Read more
- Sovereign's Capital has announced its largest fund ever, closing at $400 million, with a focus on early to growth-stage investments in technology and healthcare sectors across the US and Southeast Asia. Read more
- Industry Ventures has raised $900 million to invest in small early-stage VCs and their breakout startups, emphasizing the importance of nurturing emerging talent in the venture capital landscape. Read more
- Frumtak Ventures has closed its fourth fund at $87 million, focusing on supporting startups in Iceland. Read more
- Alpine Space Ventures has raised €170 million (approximately $185 million USD) to target Series A rounds in the space tech sector. Read more
- Carbon Equity has launched a new climate tech fund, raising €60 million (around $65 million USD) to invest in sustainable technologies. Read more
- J2 Ventures has secured $150 million to propel technology startups that cater to both civilian and government applications. Read more
- Seaya Andromeda has closed a climate tech fund with a total of €300 million (approximately $327 million USD), focusing on investments in environmentally sustainable technologies. Read more
Learning:
- 16 Leadership Lessons from Amazon - Read more
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