Month: July 2024
GalaxEye space startup blasts off with $6.5 million funding round led by Mela Ventures and Speciale Invest!
- GalaxEye space startup has successfully raised $6.5 million in its first funding round, led by Mela Ventures and Speciale Invest.
- The investment aims to bolster GalaxEye’s growth in the space technology sector.
- The funding round reflects increasing interest in innovative space startups and their potential.
- Mela Ventures and Speciale Invest are recognized for supporting emerging tech companies.
- The financial support will enable GalaxEye to advance its projects and expand its market presence.
Space Tech Grants: iLAuNCH Unveils $100,000 Opportunities to Propel University Research into Commercial Success!
- Space tech grants are being offered by the iLAuNCH Accelerator, providing $100,000 in funding to commercialize university research.
- The program, backed by the federal government, offers seed funding between $10,000 and $100,000 for proof-of-concept technologies with commercial potential.
- Applications for the Fast Track fund are open in collaboration with three universities and include enrollment in the iLAuNCH ON Prime program for mentoring.
Cogniquest Bags Funding to Revolutionize Document Digitization for Enterprises!
- Cogniquest Bags Funding to help enterprises digitise documents, raising seed funding from Cedar-IBSi Capital and over 25 Indian angel investors.
- Founded in 2022, Cogniquest has developed a context-aware AI platform that captures key data points and generates actionable insights.
- The startup claims to offer 200X faster document processing and has clients including major IT companies like Infosys and Tech Mahindra.
- The funding will be used to scale technology development, expand use cases, and strengthen the team, particularly in finance and banking sectors.
EU Funding Boosts 15 Start-Ups Using Blockchain to Combat Misinformation
- EU funding of €1.8m awarded to 15 start-ups to combat misinformation with blockchain
- NGI TrustChain initiative selects start-ups from 10 European countries out of 162 applicants
- Start-ups to receive up to $117,000 each to address online misinformation on various platforms
- Focus on using blockchain, identity, privacy, and decentralized technologies to build trust in online activities
- EU introduces election guidelines for online platforms to tackle rising misinformation
EU Funding Misinformation: 15 Start-ups Leveraging Blockchain to Combat Online Falsehoods
In a bid to tackle the growing menace of misinformation on digital platforms, the European Union has allocated €1.8m in grant funding to support 15 start-ups across Europe. Read more
Startup Funding AI: Global Surge as AI Continues to Shine in the Spotlight
- Global startup funding up 16% in Q2, led by AI sector
- AI funding doubled to $24 billion, comprising 30% of total investment
- Larger M&A deals increased in Q2, providing liquidity in dry IPO market
- Expectation for increased M&A activity, but not as significant as anticipated
- Equity podcast discusses venture capital markets with insights from Gené Teare
Global Startup Funding Trend with AI Leading the Way
In the dynamic landscape of startup funding, the second quarter of the year witnessed a significant uptick, with global funding increasing by 16%, as reported by Crunchbase data. Read more
AI Technology Funding Revolutionizes Responsible Access to Online Funding Across the UK, Western Circle Announces
- Western Circle introduces AI technology to enhance responsible access to online funding in the UK
- The AI technology aims to revolutionize lending by improving speed, accuracy, and responsibility in financial assistance
- The technology supports ethical lending practices and tailors services to meet individual customer needs
- Western Circle’s mission is to make financial assistance more accessible and responsible for everyone
- The company remains committed to innovation, customer-centricity, and transforming the financial assistance landscape in the UK
Revolutionizing Online Funding Access with Western Circle’s AI Technology
Western Circle Announces Groundbreaking AI Technology to Enhance Responsible Access to Online Funding Across the UK
In today’s fast-paced world, access to financial assistance is crucial for many individuals facing unexpected expenses or financial challenges. Read more
Early Stage Funding Secured by DecoverAI and ElectricPE
- DecoverAI secures US$2 million in seed funding led by Leo Capital to develop a revolutionary “Legal Brain” AI system for legal professionals
- Funding to enhance DecoverAI’s technology, including Generative Defence feature, to provide more accurate legal insights and strategies
- ElectricPe receives US$3 million in pre-series A funding led by Green Frontier Capital to expand its EV super-app and market presence
- ElectricPe’s platform offers comprehensive solutions for EV users, including access to chargers, financing, and post-purchase services
- Green Frontier Capital supports ElectricPe’s growth journey in driving EV adoption and consolidating EV services on a single platform
DecoverAI Secures $2 Million Seed Funding
In a move set to revolutionize the legal technology sector, DecoverAI, a cutting-edge legal tech startup, has successfully secured $2 million in seed funding. Read more
SaaS Startup Funding Soars as Nected Secures $1.5 Million from Binny Bansal’s Three State Ventures and More
- SaaS startup Nected secures $1.5 million funding from Three State Ventures, Binny Bansal
- Mistake in filed ITR? Check revised ITR filing last date and penalties for late filing
- A fund with INR7k crore meant to protect investors is causing harm
- Chennai’s A2B attracts PE funds for investment opportunities
- Anil Ambani’s R Power and Paytm provide lessons on what to avoid during peak IPO season
SaaS Startup Funding: Nected Secures $1.5 Million Investment
In the world of tech startups, securing funding is a significant milestone that can propel a company to new heights. Read more
Synapse Analytics funding soars to $2M with support from Hub71 and Silicon Badia
- Synapse Analytics secures $2 million funding led by Hub71 and Silicon Badia
- Funding to expand AI technologies across GCC and Africa for financial sector transformation
- Startup part of Hub71 aiming to address financial inclusion and access using AI software
- Technology offers versatile deployment options and capabilities for financial institutions
- Synapse Analytics recognized for AI excellence, attracting top talent and partnerships with major banking providers
Synapse Analytics Secures $2M Funding Led by Hub71 and Silicon Badia
In the ever-evolving landscape of artificial intelligence (AI) technology, startups are continuously pushing boundaries and driving innovation. Read more
IRS Cloud Funding Request Dwarfs Other Civilian Agencies in Treasury’s Bold Move, Report Reveals
- Treasury Department requests $2.4 billion for IRS cloud technology in FY25
- Federal civilian agencies seek nearly $9 billion for cloud-related programs in FY25
- IRS accounts for $2 billion of Treasury’s total budget for cloud work in FY25
- Treasury outpaces other agencies in cloud technology funding requests
- Pentagon awarded a $9 billion enterprise cloud contract in 2022
Treasury’s Push for IRS Cloud Funding
The Treasury Department is making significant strides in embracing cloud technology, with a substantial funding request of approximately $2.4 billion for fiscal year 2025. Read more
Scaling Operations in Europe: Unspun Secures $32M for Expansion
- Unspun secures $32 million funding to scale operations in Europe, focusing on its 3D weaving technology, Vega
- Funding led by DCVC, with participation from Lowercarbon Capital, E12, Decathlon, and SOSV
- Vega technology addresses fashion industry challenges such as on-demand production, nearshoring, and overconsumption
- Unspun plans to license technology to manufacturing partners in Europe, with a focus on creating almost zero-waste, on-demand manufacturing
- Future plans include expanding technology into various apparel categories and developing circular manufacturing techniques
Scaling Operations in Europe with Unspun’s $32M Funding
Unspun, the Oakland, Calif.-based Read more
Indian Space Startups Skyrocket with $126 Million Funding in 2023, Surging 7% from Previous Year: Report
- Indian space tech startups secured $126 million funding in 2023, up 7% from 2022
- Revised ITR filing last date and penalties for filing after July 31 deadline
- MFs showing interest in disruptor stock from Reliance Industries
- Luxury car favored by young, affluent Indians for driving pleasure
- Piyush Goyal’s stance on India’s position regarding China restrictions
Indian Space Startups Garner $126 Million in Funding in 2023
In a significant development, Indian space technology startups have managed to secure a whopping $126 million in funding in the year 2023, marking a notable increase of 7% from the previous year. Read more
Legal tech funding round led by Leo Capital boosts DecoverAI with $2 million in funding.
- Legal tech company DecoverAI secures $2 million funding from Leo Capital
- ITR filing guide includes revised filing date and penalties for late submission
- Mutual funds show interest in Reliance Industries’ disruptor stock
- Luxury car favored by affluent young Indians for driving pleasure
- Piyush Goyal asserts India’s alignment with global stance on China restrictions
Legal Tech Company DecoverAI Secures $2 Million in Funding Round Led by Leo Capital
Legal tech company DecoverAI has recently made headlines by successfully raising $2 million in a funding round led by Leo Capital. Read more
AI-Powered ESG Tech Startup osapiens Secures Impressive US$120m Funding
- osapiens secures US$120m funding for AI-Powered ESG tech from Goldman Sachs
- Climate action is crucial to limit global warming to 1.5 degrees as per the Paris Agreement
- osapiens HUB, an AI-powered platform, simplifies ESG compliance for over 1,300 global customers
- The platform supports compliance with various ESG regulations and helps mitigate risks in operations and supply chains
- Notable customers like Continental and Coca-Cola North America utilize osapiens HUB for product traceability and business improvement
Revolutionizing ESG Compliance with osapiens’ AI-Powered Solutions
In a world where climate change is a pressing issue, companies are increasingly looking towards Environmental, Social, and Governance (ESG) practices to drive sustainability and accountability. Read more
India space technology sector skyrockets with 235% growth in just 2 years, clinches $126 million in 2023
- India’s space tech sector grew 235% in 2 years, securing $126 million in 2023
- Government allocated Rs 1,000 crore in the Union Budget to support space technology startups
- Indian space tech startups have raised significant funding, with early-stage investments driving growth
- Skyroot Aerospace, Pixxel, and Agnikul are the top-funded space tech startups in India
- Bangalore is the top-funded city in the privatized Indian space sector, indicating rapid growth and potential in the industry
India’s Space Technology Sector Growth
India’s space technology sector has been on a remarkable growth trajectory, experiencing a significant surge of 235% in just two years. Read more
Funding Foodtech Startup OurCrowd Takes the Lead in Backing Sugar Reduction Startup Blue Tree Technologies
- OurCrowd leads $2.26 million funding round for Blue Tree Technologies, a Foodtech startup focused on sugar reduction
- Blue Tree Technologies, founded in Israel in 2020 by Didier Toubia, uses advanced separation techniques to remove sugar from beverages
- Blue Tree’s technology maintains nutrients and aroma while reducing sugar levels in juices, milk, and beer
- Despite challenges, including displacement due to military call-up, Blue Tree secured funding to expand its solution and reach a wider audience
- The investment in Blue Tree is significant for the Foodtech sector in Israel, which has seen a sharp decrease in funding post-invasion, highlighting the company’s potential impact.
AI-Powered Education Solutions Get Boost with Educatly’s $2.5M Funding for MEA Region
- Educatly secures $2.5 million funding to enhance AI-powered education solutions in MEA region
- Funding led by TLcom Capital and Plus VC, with participation from Egypt Venture and HBAN syndicate
- Educatly focuses on guiding students in educational and professional decisions using AI technology
- Platform offers comprehensive information on 1,100 universities across 90 countries
- Goal to reach 7 million students by end of 2024, expanding operations across Africa and the Middle East
Revolutionizing Education with AI-Powered Solutions
In a groundbreaking development for the Middle East and Africa (MEA) region, Educatly has recently secured $2.5 million in funding to enhance its AI-powered education solutions. Read more
Egyptian Fintech Funding: MNT-Halan Clinches Massive $157.5 Million Investment Boost
- Egyptian fintech firm MNT-Halan secures $157.5 million in funding for geographical expansion, with $40 million from IFC
- Investors include Apis Partners LLP, Lunate, GB Corp., Development Partners International, and Lorax Capital Partners
- MNT-Halan, founded in 2018, aims to provide digital banking services to the unbanked population
- Company’s digital ecosystem includes lending, payments, consumer finance, e-commerce, e-wallets, prepaid cards, savings, and more
- With over 7 million consumers in Egypt, MNT-Halan has disbursed loans exceeding US$4.4 billion and plans for regional growth
Egyptian Fintech MNT-Halan Secures $157.5 Million in Fresh Funding
In the latest news in the world of Egyptian fintech, MNT-Halan has successfully secured a substantial $157.5 million in funding. Read more
South African Fintech TurnStay Scores $300,000 in Exciting New Funding
- South African fintech TurnStay secures $300,000 in funding from DFS Lab, DCG, and other investors to expand into new African markets
- Founded by James Hedley and Alon Stern, TurnStay aims to reduce payment costs for African merchants in the travel sector
- TurnStay enables direct reservations for customers, cutting card billing costs by up to 70%
- The company offers a localized payment experience, charging clients in their home currency using familiar payment methods
- TurnStay’s innovative solutions have processed over ZAR50 million in transactions and reduced costs for clients by 70%
South African Fintech TurnStay Secures $300,000 in Fresh Funding
In the bustling landscape of fintech startups in South Africa, TurnStay has emerged as a promising player, recently securing a significant $300,000 in fresh funding. Read more
Proptech Seed Funding: Stairpay Makes a Staircase to Success with £750,000 Secured
- Proptech startup Stairpay secures £750,000 in Seed funding
- Stairpay automates shared ownership journey for residents and housing associations
- Partnerships with Clarion, Places for People, and Share to Buy enhance shared ownership experience
- Stairpay’s platform addresses challenges faced by first-time buyers in the UK housing market
- Data-driven approach aims to improve shared ownership experience and increase home ownership opportunities
Understanding Proptech Seed Funding and Stairpay’s Success
Proptech seed funding is a vital aspect of the real estate technology sector, enabling startups to develop innovative solutions for the property industry. Read more
Indian Spacetech Startups Soar to New Heights with Record-Breaking Funding Amid Government Support
- Indian spacetech startups witnessed record-breaking funding of $126 million in 2023, showing a significant increase from previous years and driven by government support and innovation.
- The spacetech sector in India has seen a 7% increase in funding from 2022, with early-stage rounds attracting the majority of the total funds.
- The Union Budget’s allocation of Rs 1,000 crore is expected to further boost the industry, attracting more entrepreneurship and investment.
Autonomous Vehicles Funding Ignites $2.7B Boom in June 2024
- Autonomous vehicles funding drives $2.7 billion investment boom in June 2024
- 48 companies raised $2.7 billion, the highest monthly total of 2024
- Largest investments were in autonomous driving technologies
- Robotics technologies for manufacturing operations also attracted significant investment
- Majority of funding rounds in June went to U.S. and Chinese-based companies
Autonomous Vehicles Funding: A $2.7 Billion Boost in June 2024
In the fast-evolving landscape of autonomous vehicles, the funding boom reached new heights in June 2024, with a staggering $2.7 billion raised by companies involved in robotics and relevant enabling technologies. Read more
Quantum Internet Research Thrives with Record £160m Funding Boost
- Quantum internet research benefits from £160m funding, with a focus on creating a high-security quantum internet impervious to hackers
- Heriot-Watt University in Scotland leads a groundbreaking quantum research hub to advance ultra-secure quantum internet technology
- Quantum technology harnesses unique properties of atoms and subatomic particles to enhance cybersecurity and enable breakthroughs in various fields
- The Integrated Quantum Networks (IQN) Hub aims to establish large-scale quantum networks for secure communications and a hack-free internet
- UK government invests in five quantum technology hubs, aiming to make Britain a quantum-enabled economy by 2035, with a focus on practical solutions for healthcare and security.
Offshore Wind Funding Soars: US DOE Unveils $48.6m for Cutting-Edge R&D in Offshore Wind Industry
- US DOE announces $48.6m funding for offshore wind R&D
- Funding opportunity includes research on floating platforms, wildlife protection, and supply chain expansion
- Deadline for concept papers is 3 September and for full applications is 7 November 2024
- US set to miss 2030 offshore wind capacity target, with shortfall expected to be mitigated by 2035
- States forecasted to award procurement contracts for additional offshore wind projects in 2024
US DOE Announces $48.6m Funding for Offshore Wind R&D
In a bid to boost the development of offshore wind projects in the United States, the US Department of Energy (DOE) has unveiled a significant funding opportunity. Read more
Osapiens Revolutionizes ESG Regulation with €110.7 Million Series B Raise to Aid Companies
- osapiens secures €110.7 million Series B financing led by Growth Equity at Goldman Sachs Alternatives to assist companies in navigating ESG regulation
- Funds will be used for international expansion and technology platform investment to enhance compliance, resilience, and efficiency in business operations
- osapiens HUB, an AI-powered cloud-based platform, simplifies compliance with various international ESG regulations and enables risk identification and mitigation
- Goldman Sachs Alternatives acquires a minority stake in osapiens, joining existing investor Armira Growth, demonstrating osapiens’ global leadership in the ESG technology sector
- osapiens’ platform offers a unique integration of compliance, risk mitigation, and operational efficiency modules, empowering businesses with actionable insights for long-term sustainability and positive impact.
Marble Innovation Award: Melt&Marble Secures €2.76M from European Innovation Council
- Melt&Marble awarded €2.76M by European Innovation Council to develop sustainable meat-like fat
- Precision fermentation and microbial engineering platform recognized for innovation in food production
- Selected as one of 68 European deep tech start-ups to receive grant and equity funding
- Also secured €260K grant for project focusing on enhancing dairy analogues
- Funding to support scaling up production and launching MeatyMarble™ as a sustainable alternative
Marble Innovation Award: Melt&Marble’s €2.76M EU Grant
In a significant boost for the foodtech industry, Melt&Marble has recently been awarded a substantial €2.76M grant by the European Innovation Council (EIC). Read more
African startup funding surpasses $1 billion milestone in 2024, marking a delayed victory from 2023 by 2 months
- African startup funding finally crosses $1 billion in 2024, 2 months later than 2023
- Venture capital funding into African startups in 2024 surpasses $1 billion, as reported by Africa the Big Deal
- Kenyan clean energy company d.light secures a $176 million securitisation facility for expansion
- Egyptian unicorn MNT-Halan raises $157.5 million for geographical expansion, with IFC as a major contributor
- Funding in H1 2024 reached nearly $800 million, marking a decline from previous years but showing signs of improvement
African Startup Funding Finally Crosses $1 Billion in 2024
Venture capital funding into African startups has reached a significant milestone in 2024, crossing the $1 billion mark. Read more
B2B SaaS Fund Secures Impressive €266M Close with Kennet
- Kennet has closed its largest fund to date, Kennet VI, raising €266M for investing in B2B SaaS companies across Europe.
- The fund focuses on established, high-growth B2B SaaS technology companies that are founder-owned and either capital efficient or bootstrapped.
- Kennet has a successful track record of delivering exits, with recent examples including Eloomi, Nuxeo, Dext, and CrossBorder Solutions.
- The firm’s investment strategy emphasizes building world-class management teams, expanding internationally, and creating strategic value.
African tech funding: Uncovering the Causes of the Funding Shortage, its Severity, and Duration
- African tech startups raised $530 million in the first half of 2024, down by 56% from the previous year, due to global economic conditions affecting investment.
- The African tech sector saw a reset with a decrease in the number of funded ventures and total funding raised in 2023, continuing a trend of annual halving in total investment for two years.
- The funding shortage, termed a “funding winter,” has led to high-profile startup closures and challenges for many others in the African tech space.
Melbourne edtech accelerator Sindy secures $300,000 investment in UC Berkeley SkyDeck partnership
- Melbourne edtech startup Sindy Labs secures $300,000 funding to join UC Berkeley SkyDeck accelerator
- Sindy Labs founded by former University of Melbourne students to address issues in online education with AI-driven conversational assessment
- Sindy platform aims to improve student engagement and academic integrity, providing personalized feedback at scale
- Sindy Labs plans to partner with universities and large employers to enhance student hiring processes
- Sindy Labs preparing for larger scale pilots at universities in Melbourne, UC Berkeley, and other locations
Melbourne Edtech Sindy Secures $300,000 Funding and Joins UC Berkeley SkyDeck Accelerator
In the bustling world of edtech startups, Melbourne-based Sindy Labs has made waves by securing a substantial $300,000 in funding as it embarks on an exciting new chapter in the UC Berkeley SkyDeck accelerator program. Read more