Month: July 2024

• Fashion-tech brand NEWME secures $18 million in Series A funding led by Accel
• Previous funding rounds included investments from Fireside Ventures and AUM Ventures
• NEWME plans to expand its omnichannel presence and open more offline stores
• Co-Founder & CEO Sumit Jasoria highlights the brand’s unique approach bridging fashion and technology
• NEWME targets over 500 million Gen Z customers in India and Southeast Asia, aiming for significant growth and innovation

Fashion-tech brand NEWME: Revolutionizing Gen Z Fashion

Fashion-tech brand NEWME has made headlines with its recent success in raising $18 million in a Series A funding round. Read more

• Edit Cloud secures £2m funding from angel investors, led by Edge VC
• Founded by Simon Green, Edit Cloud offers a cloud-based AI editing platform for collaborative work
• Aims to transition editing to virtual suites for enhanced efficiency and accessibility
• Clients include ITV Studios, Adobe, AWS, and Publicis
• Backed by industry leaders like Simon Ward and Justin Cooke, Edit Cloud aims to revolutionize post-production workflows

Cloud Security Funding: Edit Cloud Secures £2m Investment

In the ever-evolving landscape of technology and innovation, securing funding is crucial for companies looking to expand their operations and bring their groundbreaking ideas to life. Read more

• 77% of Indian tech start-ups invest in AI and advanced technologies
• 40% of tech start-ups originate in Tier II and III cities
• Study by SAP India and Dun & Bradstreet examines 113 Indian start-ups
• Indian start-ups prioritize operational efficiency, growth, and customer experiences through technology integration
• Bengaluru leads in funding and deal numbers, with tier 2 and 3 cities emerging as innovation hubs

Indian Tech Start-ups Embracing Advanced Technologies

Indian tech start-ups are at the forefront of innovation, with a recent study revealing that over 77% of these companies are investing in cutting-edge technologies such as Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), and blockchain. Read more

• Dutch-based ExCulture secures funding from Dutch Industrial Biotech Seed Fund and Medtech TTT to produce animal-free alternative to life-saving blood thinner
• Funding round follows previous investments from UNIIQ, Delft Enterprises, and Libertatis Ergo Holding in 2023
• ExCulture, founded by Aisling Foley and Ilaria Poledri, focuses on developing a novel fermentation bioprocess for biopharmaceutical production
• Goal is to create a safer, more sustainable animal-free heparin substitute to address global shortages and contamination risks
• Capricorn Industrial Biotech Fund and MedTech consortium support ExCulture’s mission for responsible and reliable production of essential biomedical compounds

Dutch-based ExCulture Secures Funding to Produce Animal-Free Alternative to Life-Saving Blood Thinner

Leiden-based ExCulture, a biotechnology startup, has recently made headlines by securing funding for the development of an animal-free alternative to the widely used blood thinner, heparin. Read more

• Israeli startups experienced a surge in private funding in the first half of 2024, with investments in cybersecurity leading the way.
• Private funding for Israeli startups increased by 31% to $5.1 billion in the first half of 2024, with potential total funding reaching $6.7 billion.
• The second quarter saw a significant increase in funding to $3.3 billion, up from $1.8 billion in the first quarter.

• Marketing analytics platform Luscid secures $1.2M Seed funding for further development and market expansion
• Luscid utilizes a vast global dataset for the sponsorship industry, analyzing partnerships across 80 countries and 88 genres
• Funding round led by prominent angel investors, including figures from sports, entertainment, and technology sectors
• Luscid’s platform aims to eliminate guesswork in sponsorship decisions, providing measurable outcomes for brands
• CEO emphasizes the importance of understanding customer interests and projecting business beliefs through strategic partnerships

Revolutionizing Sponsorship Decisions with Luscid’s Marketing Analytics Platform

In a recent development, the marketing analytics platform Luscid has secured $1.2M in seed funding to propel its innovative technology to new heights.

• Edtech firm byteXL secures $5.9 million Series A funding led by Kalaari Capital and the Michael & Susan Dell Foundation
• byteXL, founded in 2020, focuses on engineering colleges, offering a hybrid learning platform and guided campus recruitment model
• The funding will be used to expand the team, develop new products, introduce advanced digital tools, and enhance outreach to colleges nationwide
• byteXL has partnered with over 26 colleges, training students in software technologies, leading to higher placement rates and increased student intake
• The company plans to expand into new regions, increase team size, and focus on operations, product development, and content creation

ByteXL Secures $5.9M Series A Funding Led by Kalaari Capital

In recent news, the edtech firm byteXL has successfully secured $5.9 million in a Series A funding round led by Kalaari Capital, with the Michael & Susan Dell Foundation also participating in the investment. Read more

• Government fund of ₹1 trillion to support deep-tech startups in promising segments
• Inter-ministerial committee led by Department of Space working on fund framework
• Fund to be announced in next two months as part of National Deeptech Startup Policy
• Policy framework aims to boost R&D in private sector and develop niche technology-driven products in India
• Challenges for Indian deeptech startups include funding access, talent attraction, and research infrastructure

Understanding Tech Startup Funding and Market Framework

In the fast-paced world of technology startups, securing funding is often the key to success. Read more

• Irish Venture Capital Association emphasizes the need for structural funding reform to create a “stable of unicorns” in Ireland
• Minister Peter Burke sets up committee to address scaling challenges faced by Irish tech companies
• International funding for Irish SMEs drops significantly, highlighting the reliance on unpredictable foreign investors
• Early-stage funding deals see an increase, with life sciences sector dominating VC funding
• Access to finance remains a major obstacle for Irish tech start-ups, with lobbying efforts focused on tax credits and state supports

Irish Unicorn Funding: A Path to Creating a Stable of Unicorns

In the realm of venture capital and tech start-ups, the concept of Irish unicorn funding has been gaining traction as a potential game-changer for Ireland’s entrepreneurial landscape. Read more

• Nvidia participates in $80M funding round for Israeli AI disease model company CytoReason
• CytoReason develops AI-driven disease models to enhance understanding of human diseases and drug treatments
• The company’s platform enables comparison of treatments, prioritization of drug programs, and real-time updates for informed decision-making
• CytoReason aims to reduce research and development times, improve success rates, and provide molecular-level insights to therapeutic area leaders
• Six of the world’s top 10 pharma companies, including Pfizer, utilize CytoReason’s technology for data-driven decisions in various therapeutic areas

Israeli AI Company CytoReason Secures $80M Funding with Nvidia’s Support

In a significant development for the Israeli artificial intelligence (AI) landscape, CytoReason Ltd. Read more

• Washington fusion startups receive visits from Gov. Inslee and Sen. Murray as funding increases
• Fusion industry attracts over $900 million in funding last year, totaling $7.1 billion
• Fusion power seen as crucial for clean energy transition and meeting energy demands
• Washington state leaders support fusion sector with policies and funding initiatives
• Challenges remain in achieving commercially viable fusion energy production

Washington Fusion Startups: Gov.

• Pindrop Security raises $100 million to advance voice authentication technology for combating deepfakes with AI
• Pindrop’s voice authentication tech secures contact centers by analyzing and verifying customers’ voices
• The technology extends to mobile app logins, car access, and combating deepfakes through Pindrop Pulse
• Pindrop’s deepfake detection tool achieves high accuracy in identifying synthetic voices
• Pindrop offers a Pulse Deepfake Warranty to compensate customers for financial losses from undetected deepfakes

Voice Authentication Technology: Pindrop Security’s Innovative Approach

In the fast-evolving landscape of cybersecurity, the need for advanced authentication technologies has never been more critical. Read more

• New funding of £600,000 from The Rigby Foundation supports 300 tech careers in the West Midlands
• Generation UK charity administers the funding to address youth unemployment in key sectors like tech
• SCC, a tech services provider, will support the program with staff volunteering and equipment
• The Rigby Foundation aims to promote social mobility in the region through charitable work
• Partnership with Generation UK to provide high-demand skills to young people in the West Midlands

Supporting 300 Tech Careers in the West Midlands

The latest initiative to support young people into tech careers in the West Midlands has received a significant boost with new funding worth £600,000. Read more

• Israeli tech industry faces challenges post-war, with impacts on funding and workforce
• Negative attitudes towards Israel affecting venture capital funds and company activities abroad
• Israel’s tech sector plays a significant role in the nation’s economy
• Resilience shown by Israeli tech companies, with notable successes despite global downturn
• VCs launching new funds to support startups and address challenges post-war

Funding Resilience in Israeli Tech

In the wake of the events of October 7th, the resilience of Israeli tech has been put to the test. Read more

• Anthropic launches $100 million AI fund with Menlo Ventures to support early-stage startups using AI technology
• The Anthology Fund mirrors Apple’s iFund partnership with Kleiner Perkins, providing credits and resources to AI startups
• AI development is moving faster than iPhone development, with funding for AI startups doubling in the second quarter
• Anthropic aims to establish a feedback loop by partnering with developers to improve its products
• Anthropic competes with OpenAI and aims to build a community of innovative AI companies with the Anthology Fund

Anthropic Launches $100 Million AI Fund with Menlo Ventures

Artificial intelligence startup Anthropic has teamed up with Menlo Ventures to launch a $100 million fund aimed at backing early-stage startups and promoting the use of Anthropic’s cutting-edge AI technology. Read more

• Carmignac has launched the Carmignac Portfolio Tech Solutions fund, an SFDR Article 9 strategy managed by Kristofer Barrett.
• Barrett, previously at Swedbank Robur, will manage the fund focusing on sustainable long-term investments in technology companies.
• The fund targets companies with superior management, innovative products, and solutions for a changing world.
• The strategy invests in US and Asia markets across all market caps, with a minimum investment horizon of five years.

• Financial marketplace operator Jeff App secures $2 million in funding for boosting financial inclusion in emerging markets
• Jeff App allows underserved populations access to credit solutions from various financial services providers
• Client assessment infrastructure powered by alternative data is used to create in-depth client profiles
• Jeff App clears obstacles to financial services, creating new market opportunities for banks and lenders
• Expansion into multiple markets, revenue benchmark of $10 million per annum, plans for further geographic expansion and product categories

Financial Inclusion: Jeff App’s $2M Funding Revolutionizes Emerging Markets

Financial inclusion is a critical aspect of economic development, particularly in emerging markets where access to traditional financial services can be limited. Read more

• Quinas Technology’s UltraRAM memory technology offers 10 million rewrite cycles and 1,000 years of data retention, receiving £1.1 million in funding for mass production
• UltraRAM, developed by experts from UK universities, combines DRAM and NAND standards for enhanced performance
• The technology traps electrons within layers to control electron flow, leading to higher write cycles and data retention values
• Innovate UK is supporting the project to scale up UltraRAM wafers and move from testing to mass production
• UltraRAM presents significant economic opportunities and potential energy savings, with plans to advance production processes for wider adoption

Understanding UltraRAM Data Retention Technology

In the realm of cutting-edge memory technology, Quinas Technology’s groundbreaking invention, known as UltraRAM, is revolutionizing the data storage landscape. Read more

• Repliers, a leading Canadian proptech company, secures seed funding from Scale Shift Ventures to democratize access to cutting-edge real estate technology.
• Repliers offers a platform with real estate data integration, AI features, and market visualization for developers to build advanced applications efficiently.
• The company focuses on AI tools to address the real estate industry’s transformation with AI integration.
• The funding will be used to scale products across North America and rebrand with Scale Shift Ventures’ expertise.

• Investors and founders in Africa’s tech sector are feeling more optimistic about a return to dealmaking
• African startups saw a significant decrease in investments in the first half of this year compared to previous years
• Signs of macroeconomic stability in top African destinations and potential rate cuts by the US Federal Reserve are boosting optimism in the funding ecosystem
• Lessons learned from the past couple of years emphasize the need for better investment structure to avoid startup closures and misdeeds
• Renewed optimism is leading to the formation of new funds to support early-stage startups tackling significant challenges

Investors Optimistic About Africa’s Tech Sector Recovery

Investors and founders in Africa’s tech sector are feeling more upbeat about the future, as signs of a rebound in dealmaking emerge after a period of decline. Read more

• Huma completes Series D funding round with over $80m, launching cloud platform
• Huma aims to reduce time to develop and launch digital health projects using Huma Cloud Platform
• Huma’s platform offers no code configuration of disease management tools, device connectivity, and AI algorithms
• Series D funding saw participation from new and existing investors, including AstraZeneca and Bayer
• Huma’s technology has powered projects in over 3,000 hospitals and clinics, with revenue doubling year-on-year

Huma Secures Over $80m in Series D Funding

Huma, the global healthcare AI company, has successfully completed its Series D funding round, raising over $80 million. Read more

• QC Design selected for EIC Accelerator Program, secures €4 million in funding
• Quantum design automation software, Plaquette, aids in developing efficient logical qubits for fault-tolerant quantum computing
• EIC funding accelerates development of design-automation tools for fault-tolerant quantum computers
• QC Design emerges as one of the 68 winners out of 969 full proposals in the competitive EIC Accelerator program
• Company receives €2.5 million grant and up to €1.5 million in equity investments for Seed round

QC Design Selected For EIC Accelerator Program

Quantum design automation software company, QC Design, has been chosen to participate in the prestigious European Innovation Council (EIC) Accelerator program. Read more

• The $2.5M Innovate Africa Fund has launched to support early-stage founders with transformative ideas.
• Co-founded by Kristin Wilson and Christian Idiodi, the fund aims to finance startups addressing issues like insecurity, unemployment, and poverty in Africa.
• The fund plans to support up to 20 startups in its first year and provide insight-driven capital to accelerate their growth.
• Innovate Africa Fund offers a comprehensive support package including finance, governance, public relations, and product development support.

• Khalifa Fund for Enterprise Development launches funding programmes to support start-ups in priority sectors
• Interest-free, long-term loans ranging from AED150,000 to AED3 million available for Emirati start-ups
• Programmes aim to enhance capabilities of start-ups in priority sectors and foster innovation and entrepreneurship among UAE Nationals
• Funding suite includes six products categorized under Startup Funding, Expansion Funding, and Agri-tech Funding programmes
• Funding products cover costs for micro start-ups, small and medium businesses, and agricultural sector enhancements

Khalifa Fund for Enterprise Development: Empowering Start-ups in Priority Sectors

In a bid to bolster the entrepreneurial landscape in the UAE, the Khalifa Fund for Enterprise Development has unveiled a range of innovative funding programmes aimed at supporting licensed Emirati start-ups in priority sectors. Read more

• Yatri parent, Moving Tech, secures $11 million funding from Blume Ventures, Antler, and Google
• Funds to be invested in technology, R&D, and product innovation for driver empowerment and enhanced customer experience
• Moving Tech aims to increase driver earnings and provide reliable, affordable, seamless, and sustainable mobility solutions
• Company leaders emphasize a people-first approach and collaboration with community, government, and businesses
• Namma Yatri app launched as an alternative to Ola and Uber, introducing subscription and direct-payment models, expanding to multiple cities

Yatri Parent Funding: Namma Yatri Secures $11 Million Investment from Blume Ventures, Antler, Google

In a recent development, Moving Tech Innovations Ltd, the parent company of popular community-led mobility apps Namma Yatri and Yatri Sathi, has successfully raised $11 million in a pre-Series A funding round. Read more

• Moving Tech raises Rs 91 crore to fund technology, R&D, and product innovations for public transportation system
• Funds will be used to develop an integrated, digitized, and open transportation system
• Moving Tech aims to increase driver earnings and provide reliable, affordable, and sustainable mobility solutions
• Namma Yatri and its family of apps are open-source and part of the ONDC Network
• Moving Tech is focused on building inclusive, efficient, and sustainable mobility for the future

Funding the Future: Namma Yatri’s Vision to Fund Technology R&D

In a significant move towards revolutionizing the public transportation sector, Namma Yatri, a subsidiary of Moving Tech, has secured a substantial investment of Rs 91 crore to fund technology, R&D, and other critical aspects. Read more

• Senator Rosen and President Sandoval secured nearly $21 million in federal funding for the Lithium Loop Tech Hub in Reno
• The funding will support new lithium workforce initiatives, invest in STEM education, and bolster workforce opportunities, including for Native American and Indigenous students
• The Tech Hub program aims to transform U.S. regions into globally competitive innovation centers
• Senator Rosen and President Sandoval held a roundtable discussion with labor and Tribal leaders to discuss the opportunities brought by the funding
• The University of Nevada, Reno will lead Nevada’s Lithium Loop Tech Hub effort with over 75 partners, supported by the $21 million from the Economic Development Administration

Senator Rosen and President Sandoval Secure Funding for Lithium Loop Tech Hub

In a significant development for northern Nevada, U.S. Read more

• New funding announced for diabetes technology research by Diabetes Australia
• Diabetes Technology Research Accelerator Grant program launched to develop new technologies
• Funding of $250,000 allocated for research to create solutions for people with diabetes
• Call for industry partners to provide matched funding to reach $1 million goal
• Focus on Automated Insulin Delivery systems for type 1 diabetes management

New Funding Boost for Diabetes Technology Research

Diabetes Australia has recently unveiled an exciting new initiative aimed at advancing diabetes technology research. Read more

• DIPA urges government to extend input tax credit for telecom towers in upcoming budget to reduce costs and benefit consumers
• Industry body seeks clarity on eligibility of related infrastructure and accessories for input tax credit to avoid financial exposure
• DIPA emphasizes the importance of accelerating digital infrastructure development to secure the nation’s digital future
• Implementation of industrial electricity tariffs for telecom infrastructure and amended RoW rules recommended for cost reduction and streamlined deployment
• Industry awaits clear guidelines on telecom rules to define networks, fair RoW grants, and separate telecom infrastructure from property considerations

Digital Infrastructure Development in India

In recent times, the push for enhancing digital infrastructure development across India has gained significant momentum. Read more

• Mantle secures $20M in Series C funding for metal 3D printing tech expansion
• Funding boosts total to over $61.5M, supporting Trueshape technology for toolmakers
• Schooner Capital leads funding round, joined by existing investors
• Mantle’s technology addresses global tooling industry challenges, labor shortages, and reshoring initiatives
• Companies like Heyco Products and General Pattern benefit from Mantle’s technology for faster product development and cost savings

Mantle Secures $20M Funding for Metal 3D Printing Tech Expansion

In the realm of advanced manufacturing, the buzz around metal 3D printing continues to grow louder. Read more