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This week, we look at an AI startup that wants to help people get creative with video; Kudos, which raised $3 million to help eliminate diaper rash; and VCs backing other VCs.
The most interesting startup stories of the week
Investors continue to pour dollars and euros into startups that can help protect the world from aggressive nations. Helsing, a defense startup that uses artificial intelligence to improve battlefield decisions, has raised 450 million euros (487 million dollars)Some of that money will go to a new entity in Estonia to protect the Baltic states from their dangerous neighbor, Russia. According to Bloomberg sourcesHelsing's valuation jumped from $1.85 billion last year to $5.4 billion. Meanwhile, some US venture funds with defence technology strategies are arming themselves with new types of investors:veterans and former Department of Defense officials.
Speaking of rising valuations, the latest numbers from PitchBook data show that startup prices have reached a its highest point In 2024, is it time to rejoice that the recession is over? Not so fast. It turns out that prices have only risen for the best companies. All the others are still struggling to raise capital or are looking for a way to hide poor valuations.
Turning AI's enemy into a friend:While Hollywood stars may be nervous about the possibility of AI technology stealing their livelihoods, Dream flarea startup founded by a documentary filmmaker and a former Google employee, wants creators to create more content and earn good revenue with AI. The studio will help animation artists work alongside an experienced creative team on story development and then distribute the videos through its online platform.
Get rid of your anxiety: Fears of war and the possibility of AI replacing people's jobs only exacerbate the already existing mental health crisis. Doodle Journey created an app that helps users explore their emotions through art therapy.
This week's most interesting fundraisers
There is a shortage of highly skilled professionals and technology in the United States. Importing that talent from abroad is one answer. But getting a work visa approved by the U.S. State Department may not just be a matter of limited quotas. Immigration lawyers sometimes give misguided advice to people looking to work in the country. Aizada Marat, born in Kyrgyzstan and educated at Harvard, founded Almaan AI-powered legal tech startup that speeds up and simplifies the visa process for technologists, founders, and researchers.
Sending money abroad: Nala, an African payments startupraised a $40 million Series A round led by Acrew Capital. The massive round shows that international remittances could be big business.
Data-driven diagnosticsBusy doctors don't always have time to review all of the data in a patient's medical history, which sometimes leads to misdiagnoses. Regarda startup that just raised $61 million at a $350 million valuation, does this for doctors with the help of AI.
Goodbye, diaper rash: Baby not sleeping well? He or she may hate the feeling of plastic in the folds of the diaper. Prestigea startup that lines its diapers with 100% cotton and raised $3 million, an attempt.
The most interesting news about funds this week
Index Ventures restocksNowadays, branded funds seem to have no problem raising large amounts of funds. Index companies announced a $2.3 billion investment in fresh capital. The company's fundraising is slightly lower than its previous round, but Index says it's an appropriate amount for the current market.
Look at the stars: Based in Germany Alpine Space Companies has raised a fund of 184 million dollars (170 million euros) to invest in companies that provide services to the space industry in the United States and Europe.
VC backing VC: Kearny Jackson raised a third fund of $65 million of pre-seed and seed-stage B2B fintech and SaaS infrastructure startups. The firm’s investment partners include Sequoia, Bain Capital Ventures, Menlo Ventures, and Marc Andreessen.
Last but not least
Arianna Huffington has partnered with Sam Altman to create a new health coaching company, Health with artificial intelligence ThriveThe company is backed by Huffington’s wellness company Thrive and the OpenAI Startup Fund. The startup will offer an AI-powered assistant that encourages people to live a healthier lifestyle. The question is, of course, whether it will be as successful as a human coach in getting people to exercise and eat their vegetables. Another question is how much funding Thrive AI Health received to develop its capabilities.
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