Month: August 2024
TILLIT Axes AXA Fund from Platform Following Gleeson’s Exit!
- TILLIT has removed the AXA Framlington Global Technology Fund from its platform following the departure of Jeremy Gleeson, who managed the fund for 17 years.
- Although Gleeson was not deemed a key-person risk, his exit prompted TILLIT to conduct a thorough review of the fund and its management team.
- Concerns raised during the evaluation included potential team changes and the impact of BNP Paribas’s acquisition talks with AXA IM.
Tech Hubs Investment: Unleashing a Half-Billion-Dollar Boost for America’s Innovation Landscape!
- The half-billion-dollar Tech Hubs investment aims to enhance America’s semiconductor manufacturing, autonomous systems jobs, and biomanufacturing capabilities through regional coalitions awarded $504 million from the EDA.
- Leaders from awarded coalitions, such as Rob Simpson, Jennifer Hankins, and Andrew Kossack, have ambitious goals for their regions, including significant job creation and technological advancements.
- The funding is part of the CHIPS and Science Act and represents a critical opportunity for the U.S.
HIPstr Funding Drought: $100 Million Secured to Ignite Early-Stage Investment!
- HIPstr Funding Drought is addressed as HIPstr raises $100 million for its debut fund to support early-stage investments amid challenging market conditions.
- The company was founded by private equity executives David Moross and Mark Bezos and operates under HighPost Capital.
- HIPstr has already made Series A investments in six companies, including Closer, Sprinter, and EverFence, aiming to help scale high-growth brands.
Yalla Plus funding scores a whopping $2.7 billion in seed investment to revolutionize hospitality technology!
- Yalla Plus funding includes a successful seed round of $2.7 million, led by Merak Capital with contributions from Khwarizmi Ventures, Isometry Capital, and angel investors.
- The Riyadh-based startup, founded in 2022 by Abdullah Alrabeh and Bader Alnasser, aims to transform the hospitality sector through its comprehensive tech platform.
- Yalla Plus offers an integrated POS system that streamlines payment management, customer feedback, and delivery solutions for restaurants and cafes.
Vietnam Climate Tech Funding Ecosystem Faces Urgent Need for Strengthening, Says Report
- Vietnam’s climate tech funding ecosystem needs strengthening urgently as the country is heavily invested in reducing carbon emissions and fulfilling net zero commitments amidst significant climate change risks.
- A report highlights that climate change could cost Vietnam 12-14.5% of GDP annually by 2050, with the country seeing a surge in venture capital funding from 3% in 2019 to 19% in 2022.
V-metics Funding News: British Beauty Council Boosts Innovation with Major Investment!
- V-metics funding news reveals that V-Metics, a virtual cosmetic software, has secured funding from UKRI through The Creative Catalyst Competition.
- Founded by Dr. Alex Box, V-Metics aims to redefine makeup by integrating technology into beauty brands’ strategies, allowing for digital application on virtual models.
- The funding package includes up to £50,000 and tailored non-financial support, enhancing V-Metics’ capabilities in the beauty tech landscape.
Federal Funding Fuels Agri-Tech Revolution for Food Companies in Southern Ontario!
- Federal funding agri-tech initiatives in Southern Ontario are set to enhance the agricultural sector, focusing on technology and food companies.
- Farm Health Guardian Ltd. received $350,000 to commercialize its digital biosecurity software, which uses facial recognition to improve animal health and prevent disease entry.
- Parrish & Heimbecker is constructing a new bulk agricultural marine terminal in Picton, which aims to support eastern Ontario farmers by improving efficiency.
Green hydrogen yachts set to revolutionize sailing as DRIFT secures £4.65m funding!
- DRIFT receives £4.65m funding for green hydrogen yachts, integrating an electrolyser into autonomous vessels to produce hydrogen from seawater using wind power.
- The startup plans to deploy yachts to the deep ocean, utilizing strong winds and an underwater turbine to power the onboard electrolyser.
- The funding, led by Octopus Ventures with support from Blue Action Accelerator, will enhance vessel design, team growth, and partnerships ahead of the first keel laying in 2025.
AfDB Climate Innovation Takes a Leap: $10 Million Investment Energizes KawiSafi II Fund!
- AfDB Climate Innovation is boosted by a $10 million investment in the KawiSafi II Fund, aimed at supporting climate-focused projects for vulnerable communities in Africa.
- The investment, sourced from the Sustainable Energy Fund for Africa (SEFA), will help local businesses develop and expand renewable energy and clean mobility initiatives.
- KawiSafi Ventures’ Managing Director highlighted the investment’s catalytic role in attracting essential capital for Africa’s climate innovators.
USAF Navigation Technology Gets Boost as SandboxAQ Secures Extra Funding; Insights from Jen Sovada
- USAF navigation technology development is being advanced through an extended Small Business Innovation Research contract awarded to SandboxAQ for their AQNav system, which operates independently of global navigation satellite systems.
- The contract extension provides additional funding to enhance AQNav’s capabilities, which utilize a quantum magnetometer and AI models to ensure secure, real-time navigation.
- Jen Sovada emphasized the importance of maintaining tactical air dominance amid rising threats from GPS spoofing and jamming technologies.
Sales Tech Funding Soars: £1 Million Boost for Innovative Business!
- A Cardiff-based sales tech business, Trigify.io, has secured £1m funding to enhance its AI and deep data analytics capabilities for sales operations.
- The funding round involved River Capital and Haatch Ventures, supporting Trigify’s growth since its founding in 2023 by Max Mitcham and Hugo Millington-Drake.
- Trigify aims to expand beyond tech sales and consultancy by incorporating more data sets and digital signals.
NexaTech Ventures Fund Unleashes £100m for Groundbreaking AI and Tech Startups, Led by Visionary Scott Dylan!
- NexaTech Ventures Fund, launched by Scott Dylan, aims to invest £100 million in AI and technology start-ups across various sectors.
- The fund provides not just financial backing but also mentorship and strategic support to help entrepreneurs succeed.
- It focuses on high-impact sectors such as healthcare, finance, logistics, and creative industries where AI can create significant advancements.
- Scott Dylan emphasizes the importance of nurturing innovation in AI technology to positively transform everyday life and various industries.
AI-enabled surgery investment: Surgical.ai backs Caresyntax’s impressive £140M funding round!
- AI-enabled surgery investment sees surgical.ai participating in Caresyntax’s £140 million funding round to enhance surgical automation and software development.
- The funding aims to address data fragmentation issues in the global £2.3 trillion surgical market, promoting the adoption of precision surgery.
- Caresyntax’s platform leverages AI to provide real-time clinical decision support, improving patient journeys and hospital efficiency.
- The software integrates data from various sources, aiding in surgical preparation, risk assessment, and personalized patient care.
Research Funding Delays: The Hidden Crisis Stalling Scientific Breakthroughs
- Research Funding Delays hinder scientific progress, as the pursuit of grants often overshadows meaningful community engagement and impactful projects in academia.
- Junior faculty members face immense pressure to secure major grants quickly, leading to a focus on flashy projects that attract funding rather than addressing urgent climate issues.
- Many academic projects receive funding for being related to climate change but fail to deliver actionable solutions, contributing to a phenomenon termed “climate delay.”
SEA Fund II Secures $72 Million to Fuel the Next Wave of Early-Stage Tech Startups in Southeast Asia!
- Antler has closed its SEA Fund II, raising $72 million to support early-stage tech startups in Southeast Asia, focusing on pre-launch, pre-seed, and seed capital.
- The fund will allocate $6 million specifically to new ventures in Vietnam and will support startups from Antler’s Residency Programmes across the region.
- Antler’s residency programs help early-stage startups with co-founders gain expertise, connect with investors, and secure capital from the outset.
NASA STEM Projects Propel Innovative Research to Ignite Career Development in Science and Technology!
- NASA STEM Projects are supported through the MOSAICS program, which fosters mentorship between college faculty and NASA researchers while enhancing career development for students in STEM fields.
- A total of $6 million has been awarded to 20 teams from emerging research institutions across the U.S. to promote access to NASA research opportunities.
- The MOSAICS program, previously known as the Science Mission Directorate Bridge Program, aims to include historically underrepresented academic institutions in NASA’s research endeavors.
Norway Wealth Fund Rakes in Billions from Tech in 2024, But Now Slashes Stakes in Meta, Novo Nordisk, and ASML!
- Norway’s $1.7 trillion wealth fund gained 8.6%, or $138 billion, in the first half of 2024, driven primarily by technology stocks amid increased demand for AI solutions.
- The fund’s equity investments rose by 12%, although it underperformed its benchmark by 0.04 percentage points, with real estate negatively impacting returns.
- Norges Bank Investment Management reported declines in fixed-income investments and unlisted real estate, with renewable energy infrastructure dropping 18%.
UK Funding Shift Puts AI Startup Sector at Risk: A Tough Choice Ahead!
- The UK funding shift has led to the cancellation of a £1.3 billion package aimed at supporting AI research, including significant cuts to super-computer and computing resource projects.
- The government has redirected £32 million towards 98 AI-driven projects to enhance productivity across various sectors, including construction and transportation.
- There are concerns that the reduced funding will negatively impact the infrastructure necessary for tech startups to thrive, particularly outside of traditional tech hubs like London.
Syfe Funding Boosts Growth in Asia with Impressive USD 27 Million Investment!
- Syfe funding Asia: Syfe has raised USD 27 million in its latest funding round, bringing its total funds raised to USD 79 million.
- The funding round included existing investors Valar Ventures and Unbound, as well as new investments from two UK family offices focused on fintech.
- The new capital will facilitate Syfe’s expansion across Asia and support the launch of new products and technological innovations.
Breakthrough Energy Ventures Secures $839M for Ambitious Third Fund, Paving the Way for Innovative Solutions!
- Breakthrough Energy Ventures, backed by Bill Gates, has raised $839 million for its third fund, focusing on innovation in climate technology and emission reductions.
- The new fund, referred to as BEVIII, aims to invest in green solutions across various sectors, including electricity, transportation, and agriculture.
- Gates co-founded Breakthrough Energy Ventures in 2015, which includes notable investors like Jeff Bezos and Jack Ma, and has over $3.5 billion committed to about 110 companies.
Healthcare fintech funding skyrockets as PayZen secures $32M Series B and $200M debt facility to supercharge market expansion!
- Healthcare fintech funding has been bolstered by PayZen, which raised $32 million in a series B round and secured a $200 million credit facility to enhance market expansion.
- The startup specializes in AI-driven patient financing solutions, aiming to alleviate the burden of medical debt by offering interest-free and fee-free payment options.
- PayZen’s services have proven effective, with partner health systems seeing a 23% to 35% increase in patient collections.
Groq AI Chip Secures $640 Million Funding, Set to Revolutionize the AI Chip Market!
- Groq AI Chip startup has raised $640 million in funding, positioning itself to disrupt the AI chip market with its advanced semiconductor designs optimized for generative AI models.
- The funding round, led by BlackRock, has increased Groq’s valuation to $2.8 billion, more than doubling its previous valuation from April 2021.
- Groq plans to use the investment to scale its operations and deploy over 100,000 Language Processing Units (LPUs) into GroqCloud, enhancing AI inference capabilities for developers.
Health Tech Interviews: Unveiling Expert Insights, Funding Breakthroughs, and Strategic Innovations!
- Health tech interviews provide insights from global experts on digital healthcare priorities and innovations, including discussions with professionals from Australia, France, and New Zealand.
- Recent strategy developments include Australia’s plans for a structured data-rich ecosystem and Nova Scotia’s app expansion for X-ray results access.
- International funding highlights feature a $20 million donation to the Mayo Clinic for generative AI cancer risk tools and a merger in Spain aimed at enhancing AI-based healthcare solutions.
Ed-tech funding slowdown sparks innovation as European and SWANA startups thrive against the odds!
- The Ed-tech funding slowdown has seen global investment drop from $20.8 billion in 2021 to under $3 billion in 2023, with just over $1 billion raised in the first half of the year.
- Despite the decline, innovative startups in Europe and SWANA are emerging, focusing on integrating AI into educational solutions and addressing skills gaps.
- Notable funding includes SWANA’s Corrsy raising $500,000 for a gamified app, Egypt’s Sprints securing $3 million for personalized learning, and Educatly acquiring $2.5 million for a higher education network.
Nayya Strategic Funding Boosted by ADP Ventures: A Game-Changer for Innovation!
- Nayya strategic funding has been secured from ADP Ventures, marking a significant investment in the employee benefits management platform.
- The partnership, which began in 2022, aims to enhance benefits management for over 600,000 employees using ADP Workforce Now and an additional 400,000 through ADP TotalSource.
- Nayya utilizes artificial intelligence to simplify the selection and management of employee benefits across health and retirement plans.
Balderton Capital Fund Unleashes a Massive $1.3B to Ignite European Tech Innovation!
- Balderton Capital fund has announced a $1.3B fund aimed at supporting European tech startups, signaling renewed investor confidence in the region.
- The fund comprises a $615M Early Stage Fund IX and a $685M Growth Fund II, targeting ambitious entrepreneurs from seed stage to IPO.
- Balderton has a history of backing over 275 tech companies in Europe and aims to support a diverse range of sectors within the tech ecosystem.
Oklahoma CareerTech Funding Soars with Over $4 Million Boost from Lottery!
- Oklahoma CareerTech funding received over $4 million from the Oklahoma Education Lottery Trust Fund, totaling $4.61 million in scholarships and grants for the upcoming school year.
- A total of 180 grants were awarded, with nearly $4.2 million allocated to technology centers and K-12 school districts.
- CareerTech awarded 437 scholarships for the 2023-24 school year, amounting to over $420,000.
- The funds are utilized to enhance classroom resources, including equipment for various training programs and educational technology for K-12 districts.
Balderton Capital funds soar as backer of Revolut secures £1bn across two groundbreaking funds!
- Balderton Capital funds have successfully raised $1.3bn (£1bn) through its Early Stage Fund IX and Growth Fund, with $615m and $685m allocated respectively.
- The venture capital firm plans to invest in companies from seed stage to IPO, marking its first dual fundraise for both early and growth stages.
- Balderton aims to support European technology companies and has backed nearly 300 firms since its inception in 2000.
UCL Battery Charging Breakthrough Secures $12M to Revolutionize Rapid Charging Technology!
- UCL battery charging technology developed by Gaussion, a spinout from University College London, has secured $12m in a Series A funding round.
- Founded by Dr. Tom Heenan and Dr. Chun Tan, the startup aims to tackle the slow charging speeds that hinder the adoption of electric vehicles (EVs).
- Gaussion’s technology promises to allow EV drivers to gain a week’s charge (200 miles) in under 10 minutes, while maintaining battery lifespan after 1,000 charges.
Climate tech funding skyrockets in 2024, surpassing last year’s total in just months!
- Climate tech funding has surged, with VCs raising $6.9 billion in 2024, surpassing the total of $5.2 billion from all of 2023.
- The increase in funding is largely attributed to significant contributions from Bill Gates’ Breakthrough Energy Ventures, which closed funds totaling over $1.4 billion this year.
- While fewer funds were closed in 2024 (24 compared to 26 last year), the average fund size increased from $202 million to $267 million.