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Welcome to our daily newsletter on tech funding. Here are the top recent deals.
TF Analytix team.
Generated with AI ∙ November 21, 2023
Data snippetAside from foundation models, most of the AI funding is for AI tool providers, the startups that help companies create and deploy their LLMs faster and more efficiently. Over the past five months, AI development tool providers received around $1 billion in funding across 41 funding rounds. Hugging Face, d-Matrix, Modular, MangoBoost and Weights & Biases secured some of the largest funding rounds. The area remains a hotbed of investment activity. Around 26 of AI tooling startups were in seed stage, with six in Series A and three in Series B.
One lesson to be learned by the collapse of FTX and the chaos and risk of collapse of OpenAI is the importance of both board composition and board governance. I bet most market participants don't even look at the board: individual record, skills and incentives.
— Daniel S. Loeb (@DanielSLoeb1)
11:06 PM • Nov 20, 2023
Investments:
Grant and growthProjeo Corporation has been awarded a $38 million grant from the U.S. Department of Energy. Projeo Corporation operates in the climate technology sector, focusing on carbon capture and storage. The grant will support Projeo's CarbonSAFE Carbon Storage Demonstration project. Read more
Blankfactor has received a growth investment from Balance Point Capital. Blankfactor operates in financial technology, providing digital transformation services. The investment will contribute to the expansion and development of Blankfactor's digital transformation solutions. Read more
Pre-seed and seedFence Raises has raised €1.8 million in a pre-seed funding round led by Semantic Ventures, with participation from Crane Earth, Actyus, and business angels. Fence operates in financial technology, specializing in debt management and offering a debt management automation platform. The funds will be used to automate debt operations with their blockchain management platform. Read more
Saga has raised $5 million in a seed funding round led by Placeholder. Saga operates in the blockchain sector, providing blockchain infrastructure for crypto games. The funds will be used to support the development and launch of the theoretically infinite blockspace mainnet. Read more
Lasso Security has emerged from stealth with $6 million in seed funding led by Entrée Capital and Samsung Next. Lasso Security specializes in LLM (Life, Loop, and Movement) cybersecurity. The funds will be used to pioneer gen-AI and advanced LLM cybersecurity. Read more
Panoptic has raised $7 million in a seed funding round led by Greenfield Capital, with participation from HashKey, gumi Cryptos Capital, L1D, and Heartcore Capital. Panoptic operates in the cryptocurrency sector, focusing on DeFi (Decentralized Finance) options with a perpetual options decentralized exchange. Read more
Salus has secured $4.7 million in seed funding with Northzone leading the investment and contributions from 500 Emerging Europe, Pitchdrive, and İş Bank. Salus operates in healthcare technology, specializing in mental health. The funds will be used to further develop and expand their mental health care platform. Read more
Series A, C and DAEM has raised £29 million in a Series A funding round led by Legal & General Capital, with Barclays Sustainable Impact Capital participating. AEM operates in the automotive technology sector, providing rare earth-free electric motors for electric vehicles (EVs). The funds will be used to scale up the production of rare earth and copper-free EV motors. Read more
edamama has raised $35 million in a Series A+ funding round led by Ayala Corporation Technology Innovation Venture Fund, with support from Kickstart Ventures, Gentree Fund, Innoven Capital, and GS Group. edamama operates in the ecommerce sector, focusing on parenting with an online parenting platform. The funds will be used to enhance and expand their parenting platform. Read more
LucidLink has raised $75 million in a Series C funding round led by Brighton Park Capital, with participation from Headline, Baseline Ventures, and Adobe Ventures. LucidLink operates in cloud computing, providing a cloud file collaboration platform. The funds will be used to redefine real-time collaboration in the new hybrid workplace. Read more
Rokid has closed a $112 million Series C extension with NetDragon Websoft Holdings leading the investment. Rokid operates in the AR/VR sector, specializing in AR glasses. The funds will be used to expand their metaverse products. Read more
Purple Style Labs has raised $352 million in a Series D funding round with Sanket Parekh leading the investment, and participation from Signet, Hira Group, Singularity Growth Opportunities Fund I, NB Ventures, and Masaba Gupta. Purple Style Labs operates in the consumer goods sector, specializing in luxury fashion as a luxury fashion omnichannel retailer. Read more
StrategicECOR Global has secured strategic funding from Phalanx Impact Partners. ECOR Global specializes in materials, producing sustainable building materials. The funding will be used to accelerate capital projects for the development of sustainable building materials. Read more
Alpheya is set to receive strategic investments from Lunate and BNY Mellon. Alpheya operates in financial technology, specifically in wealth management technology. The strategic investments will contribute to the development and growth of Alpheya's wealth management technology. Read more
Frugal Technologies has secured a strategic investment from Emerson. Frugal Technologies operates in energy technology, focusing on fuel optimization for shipping. The strategic investment will support Frugal Technologies' efforts in energy efficiency for shipping. Read more
NOVOS FiBER has announced plans to invest $20 million in Arlington, Texas. NOVOS FiBER operates in network technology, specializing in fiber optic broadband. The investment will support the development and expansion of NOVOS FiBER's fiber-to-the-home services. Read more
VentureMedmo has raised $9 million in a venture funding round led by Lerer Hippeau, with Jerusalem Venture Partners, C2 Ventures, and Stone IsraVentures participating. Medmo operates in the medical technology sector, providing a platform for medical imaging appointments. The funds will be used to streamline medical imaging processes. Read more
Plumm has raised £2.2 million in a venture funding round led by IW Capital. Plumm operates in HR technology, offering a mental health and HR platform. The funds will be used to support employee mental health through Plumm's platform. Read more
Malou has secured more than $10 million in venture funding led by henQ, with support from Bleu Capital, Bertrand Jelensperger, and Jim Texier. The funds will be used to expand to the U.S. and further develop their AI marketing platform for restaurants. Read more
BeeX has raised $2 million in venture funding led by Earth Venture Capital and ShipsFocus Ventures. BeeX operates in the robotics sector, manufacturing underwater robots. The funds will be used to support the growth and development of BeeX's underwater robots. Read more
Solar Foods has raised €8 million in venture funding from retail investors. Solar Foods operates in the food technology sector, focusing on alternative protein. The funds will be used to support the development and production of microbe-based food ingredients. Read more
Swytch has raised $3.8 million in venture funding from The Wealth Club investors. Swytch operates in the hardware sector, providing e-bike conversion kits. The funds will be used to support the growth of Swytch's e-bike conversion kits. Read more
Interesting reads:
