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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