Welcome to Startups Weekly your weekly recap of everything you cant miss out on from the world of start-ups.
Want it in your inbox every Friday? Register here.From getting stealth startups to larger ones, and from moneying Series A to Series G rounds, purchasers and investors produced a busy news cycle.Most fascinating startup stories from the weekImage Credits: Paco Freire/SOPA Images/LightRocket via Getty ImagesThis week must have seemed like the best time for companies to announce their newest startup acquisitions.
Opened: Israeli phone opening firm Cellebrite acquired mobile screening startup Corellium for $170 million in money, with $20 million transformed to equity at closing.Sought and discovered: IBM acquired Seek AI, an AI platform that lets users ask questions about business data using natural language.
Its technology is set to become an essential part of Watsonx AI Labs, IBMs brand-new NYC-based AI accelerator.Data gain access to: Data governance platform Collibra got Raito, a start-up that had raised $4 million to date to assist business manage which staff members and customers have access to internal information.
Both Collibra and Raito are based in Brussels.Challenger: AMD acquired Brium, a stealth start-up focusing on AI software application optimization, in an offer that appears intended to challenge Nvidias AI hardware dominance.Crunchy: Snowflake divulged it plans to purchase Crunchy Data, a start-up that assists business develop with Postgres.
The cloud information platform company declined to discuss the offers appraisal, however a source approximated it at around $250 million.No more pesto: Data-labeling startup Scale AI hired the team behind Pesto AI, which is shutting down after raising more than $8 million to help companies hire developers remotely.Hmm: Airtime, the video start-up from Evernotes creator Phil Libin, laid off lots of staff members, who wont be welcomed to remain for the next season.
The business, previously called mmhmm, raised nearly $135 million in venture financing across multiple early-stage rounds.Ouch: Indian grocery startup KiranaPro verified that it was hacked last May.
All of its data was cleaned in the attack.The legal fight continues: HR tech startup Deel implicated competing Rippling of hiring a staff member who spent six months impersonating a client, however Rippling likewise provided an amended grievance regarding its business spying allegations versus Deel.Most interesting VC and financing news this weekImage Credits: Kyle Grillot/Bloomberg/ Getty ImagesMoney once again flew uphill this week, but some financing also went to startups that want to challenge market leaders, expand globally, and make roadways safer.Lucky Luckey: Defense tech startup Anduril raised a massive $2.5 billion Series G round, consisting of a $1 billion investment from Founders Fund, doubling the companys assessment to $30.5 billion in the process.Moving the cursor: Anysphere, the maker of AI coding assistant Cursor, has raised $900 million at a $9.9 billion appraisal.
Sources said the company has surpassed $500 million in yearly recurring revenue.Brain chips: Neuralink, Elon Musks brain computer interface startup, protected a $650 million Series E, supposedly at a pre-money evaluation around $9 billion.Insured: Bolttech, a Singapore-based insurtech company specializing in embedded insurance, finished a $147 million Series C at a $2.1 billion valuation.APUs vs.
GPUs: Speedata, an Israeli chip startup taking on Nvidia, raised a $44 million Series B.
The business is developing an analytics processing system (APU) to accelerate AI and data workloads, which it will display later on this month.From Ireland to Japan: Irish fintech startup Nomupay locked in a $40 million Series C from SB Payment Service (SBPS), a subsidiary of Japanese telco giant SoftBank Corp.
It will use the capital on broadening its reach in crucial regions, including Asia, as well as on acquisitions.Drive with care: Obvio, a start-up using AI and cams installed on stop indications to identify risky driving, raised a $22 million Series A led by Bain Capital Ventures.Richest slice: Between February and May of this year, North American AI start-ups attracted $69.7 billion in equity capital across 1,528 offers, far going beyond Europes $6.4 billion (742 deals) and Asias $3 billion (515 deals), according to PitchBook data.Last however not leastImage Credits: Slava Blazer for A Technology NewsRoom/ Elad Gil started purchasing AI startups like Perplexity and Harvey well before many VCs recognized the trend.
Now hes placing bets on traditional businesses that AI can help reinvent and make more rewarding.