Category: Startups

• Women-founded start-up funding in Ireland dropped by roughly 60% last year, with funding falling to €93m from a record €234m in 2022.
• Despite a record number of successful fundraising deals by women-founded start-ups, the overall funding level significantly decreased.
• The TechIreland report attributes the funding drop to global decline in start-up funding and macroeconomic challenges faced by Irish tech companies.
• Average deal size for women-led start-ups decreased by 50% last year, aligning with the overall drop in funding for start-ups in Ireland.

• Women-led start-ups have raised $23 billion in funding so far, with $100 million raised in the first two months of 2024.
• Women-led startups account for 14.8% of the overall tech funding pie in India.
• Funding for women-led startups in 2023 fell by 75% compared to 2022 due to various factors.
• In 2023, 13% of the overall funding in the domestic tech space came from women-led startups.

• Women in STEM are encouraged to apply for funding and mentoring through the ‘Call For Proposal’ launched by IHFC, Tech Innovation Hub of IIT Delhi, in collaboration with Google India and SheThePeople.
• The initiative aims to support women in STEM fields by providing them with opportunities to showcase their innovative ideas and receive necessary guidance and support for their projects.
• IHFC recognizes the importance of empowering women entrepreneurs in India’s startup ecosystem to contribute to economic advancement and success.

• Ayurveda Experience secures $27 million in funding led by Jungle Ventures, with investment from Sidbi Ventures, Anicut Capital, and Sharrp Ventures.
• The funding round also involved the Mariwala Family Office, associated with consumer goods major Marico.
• Various stories and topics are discussed, including Hyundai’s Ioniq 5, Google’s Gemini project, and the potential impact of a Disney-Reliance merger on Jio’s 5G plans.

• UK tech funding roundup: This week’s deals from Monzo to Haiper
• Funding rounds for Monzo, Phagenesis, Haiper, and more in the UK tech industry
• Monzo offers digital banking services, Phagenesis focuses on treating swallowing dysfunction
• Haiper is a generative AI video startup, Wobble Genomics speeds up drug development
• Other startups like Fluent, Theia Insights, Cogna, and Gridcog receive funding in various sectors

Monzo Secures Late VC Funding

In the latest UK tech funding roundup, digital banking giant Monzo made headlines by securing late VC funding from top investors such as CapitalG, Google Ventures, Passion Capital, Tencent, and HongShan Capital. Read more

• Tech-first VCs like Nexus Venture Partners and Accel are investing in new-age consumer firms such as specialty coffee brand AbCoffee and fast fashion brand Newme
• Nexus Venture Partners is leading a $5 million funding round in AbCoffee and investing in lab-grown diamond maker Aukera
• Accel, known for investing in Flipkart, is closing a $12 million round in Newme
• The trend of tech-first VCs investing in new-age brands with affluent young customers is on the rise
• The appeal of these new-age consumer firms to tech-first VCs is driven by the potential for growth and the customer base they attract

Why Tech-first VCs are Flocking to New-age Consumer Brands

In a recent development in the venture capital landscape, tech-first VC Nexus Venture Partners is set to spearhead a $5 million funding round in AbCoffee, a specialty coffee brand. Read more

• Record funding in healthtech women-led startups sets agenda for founders
• African women-led healthtech companies saw significant increase in funding in 2023
• Maisha Meds, Kasha, Dawi Clinics, and Chefaa raised $52 million, leading to 2,000% funding growth
• Kasha’s $21 million Series B funding was the largest ever in a woman-led health tech company in Africa
• Women-led startups raised just above $200 million in 2023, marking a +7% growth from the previous year

Women-Led Healthtech Startups Making Strides in Funding Landscape

Record Funding for Women-Led Healthtech Startups

In a groundbreaking shift within the tech startup ecosystem, women-led healthtech companies have begun to emerge from the shadows of underfunding, setting a new agenda for founders in the industry. Read more

• Saudi Tech funding is increasing with a recent $130 million fundraising by a Saudi technology company.
• The Kingdom of Saudi Arabia is diversifying away from oil, focusing on technology and e-commerce sectors.
• Countries should support domestic talent and provide incentives for industries to grow and integrate globally.
• Pakistan should encourage IT firms to list on the stock exchange for visibility, tax benefits, and credibility.

• Construction tech startup BRKZ raises USD8 million in Series A funding led by 9900 and BECO Capital
• Founded by Ibrahim Manna, BRKZ specializes in materials procurement for construction projects, aiming to digitize procurement processes
• BRKZ has facilitated over $170 million in quotations to date, addressing industry challenges such as fragmented supply chains
• The funding round brings BRKZ’s total raised capital to $13.55 million, with plans to enhance capabilities and expand across Saudi Arabia
• Investors express confidence in BRKZ’s potential to drive positive change within the MENA construction sector

Revolutionizing Construction Procurement: BRKZ Secures $8 Million in Series A Funding

In the realm of construction technology startups, one name is making waves with its innovative approach to materials procurement. Read more

• MyCaptain, an ed-tech startup, secures INR 14 Crore funding from investors like Inflection Point Ventures, MyNavi, Piper Serica, Super Capital, and Ankur Capital.
• The funding will support MyCaptain’s strategic growth plans, including expanding hybrid programs into diverse cities and enriching course offerings to reach a milestone of 50+ beginner courses and 5+ placement readiness programs.
• MyCaptain aims to address the gap in modern professional skills education, offering courses in areas like Artificial Intelligence, Business Analytics, and Digital Marketing.

• Female founders face stark funding disparities, receiving notably less venture capital compared to male counterparts
• Gender bias influences funding decisions, with women often facing skepticism and higher scrutiny
• Access to influential networks is crucial for securing funding, but women encounter barriers in male-dominated networks
• Underrepresentation of women in venture capital firms contributes to the funding gap and perpetuates biases
• Investors perceive ventures led by women as riskier investments, hindering funding allocations

Unveiling the Funding Disparity: Female Founders in the Tech World

In the ever-evolving landscape of entrepreneurship, securing venture capital funding remains a pivotal milestone for startups striving to scale and succeed. Read more

• African tech future: A new R1bn VC fund, Conducive Capital, aims to shape the future of African tech by investing in South African and African tech start-ups.
• Diversity focus: The fund aims to increase diversity in the early and growth stage investment sector and develop the next generation of black woman venture capitalists.
• Founding partners: Clive Butkow, founder of Kalon Venture Partners, and Mitchan Adams, co-founder of Ozow, lead the fund with a track record of successful early-stage investments.

• SeedBlink’s Andrei Dudoiu predicts a surge in tech startup funding in 2024 due to declining inflation and interest rates.
• 2023 saw a significant decline in tech startup funding, attributed to rising interest rates caused by geopolitical tensions.
• Dudoiu highlights the resilience of some startups in 2023, reaching break-even points and establishing stronger operational frameworks.
• Optimism for 2024 is based on global monetary policy adjustments, a return of venture capital investment, and positive stock market developments.

• Social media startup Hunch secures $23 million in funding from Alpha Wave and other investors
• Valuation of the funding round remains undisclosed
• Hunch operates a social media app allowing users to engage in anonymous conversations and polls
• Recent news covers topics such as internet infrastructure resilience, banking controversies, and cryptocurrency trends
• Subscription options for accessing full stories and exclusive content are available on the platform

Social Media Startup Hunch Secures $23 Million in Funding

In the fast-paced world of technology and startups, securing funding is a significant milestone, and that’s exactly what social media startup Hunch has achieved. Read more

• Tech startup funding expected to improve in 2024 after a challenging 2023
• Factors driving the change include declining inflation and interest rates, return of venture capital investment, and positive developments in global stock markets
• Some projects survived 2023, leading to more mature and healthier businesses poised for growth with funding
• AI, defense industry innovation, and blockchain technology are highlighted as promising sectors for investment
• Verticals like remote working solutions may see stagnation or decline due to existing market winners and mainstream solutions

Tech Startup Funding Set to Rebound in 2024

In a recent analysis, Andrei Dudoiu, co-founder and managing partner of SeedBlink, expressed optimism about the tech startup funding landscape in 2024. Read more

• Hack2Skill secures $1M in funding led by Recur Club and String Ventures
• Platform aims to revolutionize hackathon organization for communities and corporations
• Tools offered streamline registration, team matchmaking, event coordination, and communication
• Focus on enabling developers to enhance skills, work on projects, and receive rewards
• Investment expected to fuel platform development and community expansion

Hack2Skill Secures $1M in Funding

In a significant development for the tech community, Hack2Skill, the brainchild of Samkit Sharma, has successfully secured $1 million in funding to bolster its mission of revolutionizing hackathon organization. Read more

• Rural commerce startup Rozana secures $22.5 million funding from Bertelsmann and others
• Rozana operates in 12,000 villages through a hyperlocal model with 18,000 peer partners for last-mile delivery
• Funding will be utilized to enhance the technology platform and expand into new districts
• Paytm Bank’s ex-ID Manju Agarwal criticized for selective resignation from CMS Info
• Fake-drugs racket in Uttarakhand busted, originating from south India

Rural Commerce Startup Rozana Raises $22.5 Million in Funding

Rozana, a promising rural commerce startup, has recently secured a significant investment of $22.5 million from Bertelsmann and other investors. Read more

• Qumra Capital pioneers a $1 billion late-stage fund for Israeli tech companies
• Focus on scaling Israeli tech globally to navigate economic challenges
• Portfolio companies like Axonius secure significant late-stage funding and achieve high valuations
• Israeli scale-ups demonstrate resilience with global sales and diverse workforce
• Qumra’s strategic investments drive innovation, growth, and global integration in the tech ecosystem

Qumra Capital: Driving Israeli Tech Success

In the realm of global tech investments, one name stands out as a beacon of resilience and innovation: Qumra Capital. Read more

• The IT startup scene is full of innovative and bold ideas that require outside support for development into successful businesses
• Various funding options are available for tech startups, each with its own pros and cons
• Bootstrapping involves personal savings, sweat equity, and external financing options like credit cards for complete control over funding
• Angel investors contribute money in exchange for stock ownership and provide guidance and insights to startups
• Venture capital firms pool money from individuals and organizations to target high-growth potential startups in specific technology sectors

Bootstrapping: Funding Your Tech Startup from the Ground Up

When it comes to funding your tech startup, one of the most self-reliant approaches is bootstrapping. Read more

• Exly raises $6.2 million in latest funding round led by Chiratae Ventures
• Proceeds to be used for enhancing product offerings and customer acquisition
• Renewing Ola vs. Uber: How Dara Khosrowshahi reignited Bhavish Aggarwal’s OG cab-hailing duel
• Warren Buffett has USD169 billion in cash, speculation on his next big bet
• Icertis IPO plan on track, growth to accelerate in 2024: CEO Samir Bodas

Understanding Exly’s $6.2 Million Funding Round

Exly, a promising tech startup, has recently made headlines by securing a significant $6.2 million in its latest funding round led by Chiratae Ventures. Read more

• Buffalo-Rochester-Syracuse tech hub applies for phase-two funding of up to $54 million
• Tech hub named NY SMART I-Corridor seeks to build semiconductor cluster in Upstate region
• U.S. Senate Majority Leader Charles Schumer supports the application and aims for project success
• Funding would focus on workforce training, commercialization, supply chain, and startup innovation
• Project builds on semiconductor investments from CHIPS & Science Law, with future chip production projections

Buffalo-Rochester-Syracuse Tech Hub Seeks $54 Million in Phase-Two Funding

The Buffalo-Rochester-Syracuse tech hub, also known as the NY SMART I-Corridor, has made a significant move by applying for phase-two funding of up to $54 million. Read more

• Grwth Club launches £5M consumer venture fund, Grwth Ventures
• Focus on sustainable growth in consumer products and technology
• Founded by Joe Benn and Jake Higgins, offering agency matchmaking and strategic growth support
• Will invest patient capital in businesses with strong underlying economics at Seed and Series A level
• Founders will have access to team operational expertise and wider Grwth network

Introducing Grwth Ventures: A Closer Look at the £5M Consumer Venture Fund

In a significant move within the startup investment landscape, Grwth Club has unveiled their latest venture – Grwth Ventures, a consumer venture fund with a £5 million investment boost. Read more

• Black Tech Nation Ventures secures $50 million fund to empower Black and diverse entrepreneurs in the tech industry.
• Founded by Kelauni Jasmyn, David Motley, and Seán Sebastian, BTN.vc aims to reshape venture capital support for underrepresented founders.
• The fund has already invested in 10 early-stage companies across fintech, healthtech, and AI, with support from industry giants like Alphabet and Bank of America.

• Groove’s strategic expansion and $45M funding in San Diego signal the city’s rise as a new tech hub
• Groove plans to double its workforce in San Diego, with two-thirds of its employees already based there
• Chief Executive Chris Rothstein and the executive team have relocated to San Diego, emphasizing the company’s commitment to the region
• The $45 million funding round aims to boost software engineering and developer teams, marking a strategic shift for Groove
• Groove’s Series B funding was led by Viking Global Investors, highlighting San Diego’s attractiveness as a tech hub

Groove’s Strategic Expansion in San Diego

Groove’s decision to expand its operations in San Diego marks a significant milestone in the tech industry, particularly in light of the $45 million funding round that has propelled its growth. Read more

• Gro Intelligence lays off 60% of staff, secures some 11th hour funding
• Employees informed of payroll issues, company to cover back pay and PTO
• Challenges attributed to funding environment and product-market mismatch
• Gro Intelligence, AI-powered insights company, focuses on agricultural and climate data
• Company’s predictive yield models highly accurate, crucial for agribusiness and financial traders

Gro Intelligence Layoffs: A Closer Look at the Recent Developments

The news of Gro Intelligence laying off 60% of its staff has sent shockwaves through the ag insights industry. Read more

• Chicago Tech Companies: Last month, various industries in Chicago received significant venture capital investments, including greentech, consumer software, and artificial intelligence sectors.
• Aarogya: Healthtech company Aarogya received funding from Hersha Hospitality Trust to enhance its health management solution, focusing on product development and team expansion.
• Cambio: Originally a debt negotiation tool, Cambio is now an AI platform assisting banks with sales calls, securing seed funding from Builders, DVC, and EGR Partners after Y Combinator.

• Top U.S. startup funding this week exceeds $100M in biotech, AI, energy, and agtech sectors.
• Fervo Energy secures a significant $244 million investment, emphasizing the shift towards sustainable energy solutions.
• AI startup Glean raises $200 million in Series D funding, showcasing the sector’s ongoing appeal to investors.
• Investments in biotech and agtech sectors, such as FogPharma and Oishii Farm, highlight innovation in healthcare and agriculture.

• Anti-child labour start-up, Hace: Data Changing Child Labour, closes oversubscribed seed funding round of £450,000
• Funding led by Manchester Angels with co-investments from GC Angels, Ada Ventures, Found Capital, and individual angels
• Capital to be used for developing Child Labour Index product to help wealth and asset managers identify and engage with businesses at risk
• Plans to grow independent business advisory board and research into child labour as an investment risk
• Board of directors includes industry experts such as Eric Solomons and John Freeman, with CEO Eleanor Harry expressing gratitude for support

Introduction: Anti-child Labour Start-Up Secures Oversubscribed Seed Funding

Hace: Data Changing Child Labour, a Manchester-based start-up, has successfully closed an oversubscribed seed funding round, receiving £450,000 in funding to further its mission of combating child labour in business supply chains. Read more