Category: Startups

• Edinburgh tech funding sees Administrate Limited secure £3.05 million in a recent funding round, led by a £1 million investment from the Investment Fund for Scotland.
• The funding round also included support from existing investors Mercia and Archangels, enhancing Administrate’s cloud-based training management platform.
• Administrate’s software aims to streamline training operations for large enterprises, addressing challenges with traditional classroom training and spreadsheet management.

• Agrifood startup funding highlights include DiMuto raising USD 5.9 million in Series A funding for supply chain visibility, aiming to expand into Latin America and the US.
• Finture, operator of Southeast Asia’s Yup digital bank, secured over USD 30 million in Series B funding to enhance its credit services and expand its user base across Southeast Asia.
• DocPro, a legal tech firm, raised USD 500,000 in pre-seed funding to develop AI-powered platforms for legal document creation and customization.

• Space tech funding of $2 million has been secured by Metakosmos, a Sydney-based startup focused on innovative solutions for human spaceflight.
• The funding comes from Alzadhar Al-Sanai, a leading Saudi Arabian technology group specializing in extreme environment monitoring platforms.
• CEO Kiriti Rambhatla expressed excitement about the investment, which aims to accelerate the development of the proprietary Kosmosuit platform.
• The strategic investment will also facilitate advancements in spacesuit technology and create spin-off applications across various industries.

• Apheros cooling technology has secured USD $1.85 million in a pre-seed funding round, aimed at enhancing cooling solutions for data centres and high-power computing sectors.
• The startup, founded by Dr. Julia Carpenter and Dr. Galle Andreatta, specializes in thermal management using high-performance metal foams to optimize heat dissipation and reduce energy consumption.
• As data centre electricity costs and sustainability concerns rise, Apheros’ technology addresses critical cooling challenges, with projections indicating that 6% of global energy will be used for cooling by 2030.

• Venture funding decline has led to the closure of Tech Nation, a UK government-funded organization supporting the tech industry, marking the first such drop in a decade.
• Tech Nation announced its shutdown on March 15, 2023, after a 15% decrease in venture funding for UK tech startups in 2022.
• Factors contributing to the closure include Brexit-related uncertainties causing companies to relocate and the economic downturn from the COVID-19 pandemic.

• 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 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.

• 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.

• 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.

• 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.

• 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.

• Oyo valuation crashes over 75% in new funding, dropping from $10 billion to $2.4 billion amidst a Series G funding round that raised $173.5 million.
• The startup’s current valuation is now below its total capital raised, estimated at approximately $3.3 billion.
• SoftBank, a major investor with over 40% ownership, had previously internally reduced Oyo’s valuation to $2.7 billion in 2022.
• Oyo has withdrawn its IPO application twice, originally seeking to raise $1.2 billion at a $12 billion valuation in 2021.

• MYAVANA hosts its inaugural Beauty Tech Summit and secures $5.9 million in funding, emphasizing its role in the $83 billion global hair care market.
• The funding, led by Ulta Beauty’s Digital Innovation Fund, will enhance MYAVANA’s AI-driven personalized hair care offerings and market position.
• The Summit featured discussions on technological advancements in the beauty industry, with participation from notable business leaders and veterans.

• ABH Optics raises €1M pre-seed funding from High-Tech Gründerfonds (HTGF) to develop ultra-thin meta-optic lenses for the eyewear market.
• The funding will accelerate the commercialization of their innovative lenses designed for high prescription powers.
• Founded in 2022 as a spin-off from the Technical University of Denmark (DTU), ABH Optics utilizes advanced nanotechnology.
• The company aims to address the needs of 13% of eyeglass wearers with prescriptions exceeding +/- 4 diopters, enhancing comfort and sustainability.

• UnaBiz funding Singapore’s $25 million pre-series C funding round includes investments from KOIF III and KCCS, aimed at enhancing its IoT services.
• The funding will support growth in security, logistics, supply chain markets, and utility expansions, following the successful integration of Sigfox 0G technology.
• In the past year, UnaBiz connected an additional 1 million devices in the security sector and is partnering with automotive manufacturers for global telemetry services.

• Placer.ai has raised $75 million in funding, contributing to its valuation of approximately $1.5 billion, focusing on location-based analytics for various industries.
• Gcore secured $60 million in Series A funding, led by Wargaming, to enhance its AI and cloud solutions, marking its first external capital raise in over a decade.
• Exoticca closed a €60 million Series D round to digitize multi-day tour package bookings, reducing costs by around 30% and streamlining the purchasing process.

• Mortgage tech funding is highlighted as iYell raises JPY 1.86 billion in Series E funding through new shares and venture debt from multiple companies.
• The startup has now accumulated approximately 9.91 billion yen in total funding, positioning itself as Japan’s largest mortgage tech company.
• iYell is developing a comprehensive mortgage platform that connects hundreds of financial institutions and thousands of housing businesses across Japan.

• Startup Funding News highlights recent funding activities, including Visit Health raising Rs 250 crore for business expansion and AI-driven solutions.
• Hyperbots, an AI-focused accounting startup, secured $2 million in seed funding to enhance its go-to-market strategy and product development.
• EtherealX, a space technology startup, raised $5 million to develop engines for reusable launch vehicles and finalize its test facility.
• IppoPay received an undisclosed investment to improve customer experience and expand its fintech offerings for small businesses.

• Muon Space funding includes securing $56M in Series B funding, alongside over $100 million in customer contracts for its Halo LEO satellites in 2024.
• The company has a significant contract with SNC to develop three advanced satellites for the Vindler RF technology, with the first satellite block expected to launch in 2025.
• The partnership with SNC aims to enhance RF collection capabilities, providing a new level of commercial possibilities through advanced analytics and diverse data sets.

• The $30 million Lilly Endowment grant will support the development of the DTSB Tech and Talent Hub in downtown South Bend, centered around the former South Bend Tribune building.
• The initiative aims to enhance Notre Dame’s research capabilities while driving economic growth and community development in the area.
• The hub will focus on applied research in data analytics, artificial intelligence, and advanced computing, alongside community programming and support for local entrepreneurs.

• Baltimore tech funding is pivotal as the region prepares to compete for a share of $10 billion in federal funding through the Tech Hubs Program after missing out on $70 million in initial grants.
• The Greater Baltimore Committee is refining its proposals to establish projects focused on artificial intelligence and biotechnology, aiming to create a sustainable workforce and state-of-the-art facilities.
• Baltimore was not selected in the first round of funding, which went to 12 other cities, but remains eligible for future rounds as one of the 31 designated tech hubs.

• Startup funding lessons highlight that Pakistani startups raised six times more funding in the past month than in the first half of 2024, totaling $6 million after a mere $1 million earlier.
• Despite this increase, the overall funding landscape remains bleak, with predictions of a continued drought in the tech sector for at least another five years.
• The recent funding boost comes from four startups successfully closing financing rounds and a venture capital firm launching its first fund.

• Startup funding India has seen over 10,000 technology startups empowered with Rs 580 crore in funding from the Union government in the past five years.
• The Ministry of Electronics and Information Technology (MeitY) supported over 3,600 tech startups with Rs 212 crore in funding through various incubator schemes.
• Key initiatives under the Startup India initiative include the Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS).

• Quantum Computers Funding: Rotonium, an Italian deep-tech startup, has secured €1 million in seed funding to enhance its research on quantum computers and develop a quantum photon processor.
• The funding round was fully backed by Galaxia, a National Technology Transfer Hub for Aerospace, in collaboration with CDP Venture Capital’s Tech Transfer Fund and Obloo Ventures.
• Founded in 2022, Rotonium aims to decentralize quantum computing with a single-photon qudit that operates at room temperature, enabling its use in diverse environments, including space.

• Robotics startup funding has propelled DELIVERS.AI to a $36M valuation following a fresh funding round from investors including Japan Post Capital and Turkey Development Fund.
• The Warwick, UK-based company specializes in an autonomous mobility platform that utilizes AI-powered, low-emission delivery robots for last-mile logistics.
• DELIVERS.AI has successfully completed over 100,000 autonomous deliveries across Europe and the UK, partnering with notable clients like Carrefour and Glovo.

• Emerging tech funding has propelled a start-up to secure record-breaking investment, positioning it as a formidable player in the tech industry.
• The partnership between the start-up and its leading investor has shifted, sparking competition that could drive innovation and accelerate development.
• The start-up aims to disrupt traditional norms with groundbreaking innovations, challenging established giants like Amazon and Google.
• Advantages of the funding include rapid scalability, a competitive edge, and increased industry recognition, while challenges involve scrutiny and resource allocation.

• UK chip startups participating in the ChipStart scheme have secured over £10 million in funding from private investors and grants to support early-stage chip design.
• Launched in October 2023, the ChipStart incubator program provides training, mentorship, and access to design tools and a network of investors.
• Notable startups include MintNeuro, which received a £100k grant for developing neural chips, and Wave Photonics, which raised £4.5 million for its photonic chip technology.

• 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.

• 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.

• 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