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The most interesting startup stories of the week
Even in seemingly crowded categories, newcomers can rise up the ranks. This includes social media: a new app called there is no place hit #1 in the App Store just as it was released out of invite-only mode.
As well as confirming users' appetite for new forms of social media, this also shows that it is still possible to go viral in 2024, as it did Application in French ten ten Earlier this year, both apps also demonstrate that there is value in revisiting old technological ideas: Myspace for non-space and walkie-talkies for ten-ten.
It’s also a reminder that consumer tech can find venture capital investors. It’s a segment that CEO Tiffany Zhong doesn’t know well; before founding this company and raising funding from investors including Alexis Ohanian’s 776 and Forerunner Ventures, she helped Binary Capital find early-stage consumer deals before building the early-stage consumer fund Pineapple Capital.
- Look for: HebbiaA startup that uses generative artificial intelligence to search large documents and return answers, has raised a nearly $100 million Series B led by Andreessen Horowitz, sources told TechCrunch.
- Ancient planet: Robin Hood acquired AI-powered research platform Pluto Capital to add new tools and features to your investment app, such as real-time portfolio optimization.
- Don't we need educational technology?:An academy to eliminate another 250 jobs as Indian educational technology Keep fighting in a post-COVID world.
- New followers:Amazon Hired Adept's co-founders and parts of their team since it licensed its technology. But the AI startup will continue to exist, focusing on “solutions that enable agent AI.”
- An oasis in the midst of the cryptocurrency drought?:Valued at $2.1 billion in a 2022 funding round, India's leading cryptocurrency exchange DCX Coin expanded internationally through The acquisition of BitOasisa digital asset platform in the Middle East and North Africa.
This week's most interesting fundraisers
One area of technology that offers particular hope is cancer-fighting startups that are raising venture funding to do so. Biography of Granza is one of them and raised $7 million from Felicis, Refactor and Y Combinator. To advance the delivery of cancer treatments.
Granza Bio graduated in Winter 2024 from Y Combinator and YC wants to support more startups like this one. Startup Application (RFS) shared in February included a call to “A way to end cancer.” The main goal of that RFS was to create startups that could reduce the cost of MRIs, which is not a perfect solution, as MRIs are known to produce false positives. So it is noteworthy that the accelerator is tackling the battle against cancer from multiple angles, including biotechnology.
Another interesting fact: Felicis is a generalist venture capital firm, but it invests 10-15% of its capital in bio-focused startups. That's also a sign that biotech is going mainstream and is another reason to keep an eye on new startups. emerging in this space.
- New Centaur:HR technology is in high demand everywhere, even in Japan, where SmartHR raised a $140 million Series E funding round after its annual recurring revenue (ARR) hit $100 million.
- Material worldFrench deep tech startup Altrove raised around $4 million to leverage AI models and lab automation To create new materials.
- Cart route:Robotics startup Cartken raised $10 million in a recent funding round led by 468 Capital. It also found that demand for its small, autonomous robots It goes beyond curbside delivery and is exploring indoor use cases.
- Happy Days:Apiday got up 10 million euros in a Series A financing round This will help it redouble its efforts in Europe, where regulatory tailwinds are boosting its ESG (environmental, social and governance) reporting platform.
The most interesting news about funds this week
- Climate change:Spanish venture capital firm Seaya Ventures will deploy 300 million euros in climate technology with dedicated Seaya Andromeda background.
- Made in Switzerland: Swiss “near-growth” fund Forestay has raised $220 million to invest in Europe and Israel. with a focus on enterprise and SaaS.
- Beyond defense: J2 Ventures, a company run primarily by US military veterans, raised A second fund of 150 million dollars that it be “linked to national security” and that it will also invest in health care.
- Olympic trail:A husband and wife duo, both former Olympians, are Seeking to raise $50 million investing in influencer-led consumer brands through its fund, Freedom Trail Capital.
- Deep space: Deep tech venture capital firm Driving Forces will close after individual general partner Sidney Scott concluded the environment was too challenging for smaller funds like yours.
Last but not least
Evolve Bank The data breach is causing a stir in the fintech sector, with several startups caught in the chaos. Yieldstreet confirmed some of its clients were affectedhow it was made IntelligentMeanwhile, Fintech Business Week author Jason Mikula said he received a cease and desist letter from the bankamid concerns that all affected fintechs may not have yet received details about what information was stolen in the breach.
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