Category: Startups

• Rohlik Group secures $170 million in funding led by EBRD for European expansion
• Zedify receives £4 million investment to expand cargo bike delivery network in the UK
• Mantle raises $20 million in Series C funding for metal 3D printing technology
• OSY Group gains Innovate UK grant for international growth of food preservation technology
• Quantum Rise secures $15 million seed round for AI-driven automation solutions

Rohlik Group Raises $170 Million in Retail Technology Funding

In the world of retail technology funding, Rohlik Group is making waves with its recent $170 million investment. Read more

• Tech funding in Africa hits four-year low amid global VC downturn
• Climate tech receives significant investment, accounting for 45% of all startup funding in Africa
• Fintech secures the most funding for startups raising $1 million or more
• Female-founded and female-led startups receive minimal funding, with majority going to ventures without female founders
• VC investments in Africa drop by 31%, but hope remains as new funds are closed to support early and growth-stage startups

African Tech Funding Hits Four-Year Low Amid Global VC Downturn

In the fast-paced world of technology and startups, the recent news of African tech funding hitting a four-year low amid a global venture capital downturn has raised eyebrows and concerns within the ecosystem. Read more

• Lynn receives second round of grant funding from CTI, tripling career skills training opportunities at Lynn Tech
• Funding allows Lynn Tech to offer 60 slots for adult education in high-demand occupations
• First cohort graduated with 11 completing welding course and 7 in automotive tech
• Additional funding expands courses to include plumbing, with 200 hours of training over 15 weeks
• Program aims to provide certifications to help participants secure high-wage jobs

Expanding Career Skills Training Opportunities in Lynn

In an exciting development for the residents of Lynn, the city is set to receive a significant boost in career skills training opportunities thanks to a second round of grant funding. Read more

• iCANX Fund aims to involve tech scholars in entrepreneurship through early-stage investment
• Fund raised 50 million yuan from 15 scholars, led by general partner Alice Zhang
• Scholars urged to move from abstract ideas to high-tech entrepreneurship
• Efforts align with global competition in technology areas like AI
• China’s performance in AI highlighted at World Artificial Intelligence Conference Shanghai

Introducing the iCANX Fund: Empowering Tech Scholars in Entrepreneurship

In the fast-paced world of technology and innovation, the intersection of academia and entrepreneurship has become increasingly vital. Read more

• Leiden University researchers secure NWO funding for three projects, including a CT scanner for eye cancer, energy-efficient software development, and a test to identify male chick eggs
• NWO’s Open Technology programme awards a total of 5 million euros to seven projects, with an additional 700,000 euros contributed by the business sector and other organizations
• The CT scanner project aims to improve the precision of proton therapy for eye cancer treatment by developing a cone-beam CT scanner for the eyes
• The energy-efficient software project focuses on developing a methodology using AI-driven co-design to generate efficient code for future computer hardware, with sustainability as a key performance indicator
• The project to identify male chick eggs early in the incubation period aims to provide an ethically responsible alternative to the practice of destroying male chicks in the poultry egg industry

Securing Funding for Tech Research: Leiden University’s Success Stories

In the world of technological research, securing funding is a crucial step towards bringing innovative ideas to life. Read more

• Sun Cable OGs raise $1.7 million Seed round for their carbon removal & recycling startup, Fugu
• Fugu, co-founded by Mac Thompson and Dr Luke Marshall, plans to scale up units to extract millions of tonnes of CO2 by 2030
• The team aims to produce 2000 carbon-capture machines annually by 2032, with a focus on cost-effective and scalable technology
• Fugu targets a market worth $150 billion by 2030, offering clean CO2 for various industries and e-fuel production
• Investible investment manager Ben Lindsay describes Fugu’s technology as “artificial lungs for the planet,” designed for rapid deployment and energy efficiency

Sun Cable OGs Raise $1.7 Million Seed Round for Their Carbon Removal & Recycling Startup, Fugu

In the world of sustainability and environmental innovation, the latest buzz surrounds the Australian startup, Fugu, co-founded by Mac Thompson and Dr. Read more

• Israeli tech funding sees significant boost in Q2 2024, raising $2.9 billion
• Wiz cybersecurity firm secures record $1 billion funding round
• Six deals over $100 million contribute to funding increase
• Return of foreign investors despite recent conflicts and controversies
• Concerns over startups registering outside Israel, potential brain drain

Israeli Tech Funding Sees Remarkable Surge in Q2 2024

Israeli tech startups have witnessed a significant upswing in funding during the second quarter of 2024, marking a noteworthy milestone in the industry’s trajectory since 2001. Read more

• Runway is aiming for a major funding boost of $450 million to push its valuation to $4 billion, showcasing significant strides in AI-powered video generation.
• Runway, founded in 2018, has been a pioneer in AI-enhanced video editing, introducing groundbreaking tools like Gen-1, Gen-2, and Gen-3 Alpha models.
• The company’s innovative AI Magic Tools streamline workflows and inspire new storytelling methods, attracting collaborations with leading entertainment and media organizations.

• Australian venture funding saw a boost in 2024 due to big raises, with notable investments in various sectors such as insurtech, green hydrogen, and plastics recycling.
• Cut Through Venture’s data highlights the dominance of mega deals in the funding landscape, with AI startups leading the sector deal count and receiving significant attention.
• Investor sentiment in the June quarter showed positive trends, with increased funding market favorability and confidence in deploying capital across all stages of startups.

• Biden administration awards $504 million in grants to a dozen tech hubs to boost production of critical technologies and create jobs
• Program aims to accelerate growth in industries like biomanufacturing, clean energy, AI, and climate resilient infrastructure
• Funding supports STEM education, workforce training, and aims to secure a leading role in the lithium supply chain
• Selected projects include lithium battery manufacturing, quantum information technology hubs, and remote sensing technology
• Funding provided through the CHIPS and Science Act of 2022, with emphasis on expanding advanced industries beyond traditional tech strongholds

Overview of the Biden Tech Hub Funding Plan

The Biden administration recently made headlines by awarding $504 million in grants to 12 tech hubs across the United States as part of its initiative to boost the production of critical technologies and foster job creation in innovative industries. Read more

• South Florida ClimateReady Tech Hub lands $19.5 million federal startup funding for climate change protection efforts
• Miami-Dade Innovation and Economic Development Office leads the hub serving four counties
• Federal funding part of a larger $504 million initiative for 12 Tech Hubs across the nation
• Miami-Dade Mayor highlights the economic and job creation potential of the initiative
• Tech Hub aims to develop scalable innovations for climate change challenges, creating high-paying jobs and generating new revenue

South Florida’s Climate ‘Tech Hub’ Secures $19.5M Federal Startup Funding

In a significant move to bolster defenses against climate change in South Florida, the region has secured $19.5 million in initial federal funding for the South Florida ClimateReady Tech Hub. Read more

• Genius girl Guo Wenjing, co-founder of tech firm Pika, secured US$135 million funding, valuing the company at US$470 million
• Guo Wenjing, born in eastern China, is a role model with a remarkable family background, winning medals and degrees from prestigious universities
• Pika was founded after Guo’s experience at an AI Film Festival, leading to the development of an AI video generation tool
• Pika’s rapid growth and success in the market led to a rise in Sunyard Technology’s share price, earning it the nickname “daughter concept stock”
• Public reactions in China vary from admiration for Guo’s achievements to fatigue over elite narratives and god-making through storytelling

Meet ‘Genius Girl’ Guo Wenjing

Guo Wenjing, known as the “genius girl” co-founder of tech firm Pika, has been making waves in the tech industry. Read more

• Kenya leads in funding, attracting $244 million of the $780 million raised by African tech startups in H1 2024
• Total H1 2024 funding for African tech startups declined by 31% compared to H2 2023 and 57% compared to H1 2023
• Two-thirds of the $780 million funding was raised using equity, with debt representing 33% and grants 1%
• The “Big 4” tech startup ecosystems in Kenya, Nigeria, Egypt, and South Africa raised $602 million, representing 79% of total funding
• Transport and Logistics sector attracted the most funding in H1 2024 at $218 million, followed by Fintech at $186 million

Kenya Tech Startups Lead the Way in African Funding

In the dynamic landscape of African tech startups, Kenya has emerged as a frontrunner in attracting funding, accounting for a significant 32% of the $780 million raised by African tech startups in the first half of 2024. Read more

• U.K. tech ecosystem surpasses China, becoming the world’s second-largest by funding, with $6.7 billion raised in H1 2024
• Key funding rounds over $100m from startups like Monzo, Abound, and Waybe contributed to the U.K.’s success
• Despite a 2% year-on-year decrease, the U.K.’s funding remained stronger than China’s $6.1 billion, securing the No.2 global spot
• Concerns arise over the lack of new U.K.

• India secured 483 VC deals, totaling $3.9 billion in funding, with the tech sector leading in attracting venture capital.
• Tech startups focusing on advanced technologies like AI and cybersecurity are particularly attractive to investors.
• India holds a 7% share of global VC deals, positioning it as a key market for VC funding activity.
• India has produced three new unicorns in 2024, solidifying its strong position in the global startup landscape.

• Viability gap funding model established by the government to subsidize compute costs for startups procuring GPUs
• Rs 5,000 crore earmarked from the Rs 10,000 crore IndiaAI mission for creating AI compute infrastructure
• Private sector involvement sought for GPU procurement to cater to diverse startup requirements
• Infrastructure plan includes creation of 10,000 GPUs in phases, with criteria and checks to prevent misuse
• Companies like Nvidia, AMD, Intel, and Yotta Data Services expected to participate in the compute infrastructure proposal process

Viability Gap Funding: A Boost for Startups Seeking GPU Procurement

In a move to bolster the country’s compute infrastructure, the Indian government is leaning on the private sector to enhance the capacity of graphic processing units (GPUs) and central processing units (CPUs). Read more

• Montana Tech Hub receives $41 million in federal funding, part of 31 nationwide hubs, with potential to create 10,000 jobs in 10 years
• Focus on photonic sensor systems, aiming to make sensors smaller, cheaper, and provide training opportunities for students from rural and tribal backgrounds
• Testing technology in unique conditions like cold weather, rugged terrain, and underground mines at Montana Tech University
• Creation of hubs through bipartisan CHIPS and Science Act, supported by Montana Senators Tester and Daines
• Official launch of Montana Tech Hub expected in mid-fall after federal funds arrive

Excitement Builds for Montana Tech Hub with Federal Funding Boost

Montana stakeholders are buzzing with excitement as the future of the Montana Tech Hub looks promising following a substantial infusion of federal funding. Read more

• Biden-Harris Administration announces $504 million funding round for 12 tech hubs in America
• Tech Hubs Program aims to boost critical technology production, create jobs, and enhance economic competitiveness
• Kamala Harris emphasizes equitable distribution of benefits to overlooked communities
• Selected tech hubs focus on various emerging technologies like quantum information, biomanufacturing, and sustainable polymers
• Program aims to accelerate America’s leadership in future industries, create jobs, and support economic growth

The Next Funding Round: Tech Hub Funding Reaches $504 Million

The Biden-Harris Administration, in collaboration with the U.S. Read more

• Local tech hub, American Aerospace Materials Manufacturing Tech Hub in the Inland Northwest, misses out on funding
• North Idaho College President Nick Swayne expresses pride in making it to the final 31 potential hubs out of 400 applicants
• Department of Commerce to visit the Spokane-based tech hub, indicating a ‘not yet’ rather than a definitive rejection
• Proposed tech hub aims to create skilled, high-paying jobs through applied education research and advanced production
• Inland Northwest Tech Hub issues a statement expressing disappointment but highlighting the region’s potential in aerospace industry

The Disappointment of the Local Tech Hub Missing Out on Funding

Local Tech Hub Misses Out on Funding

In a recent announcement by the Biden Administration, the proposed American Aerospace Materials Manufacturing Tech Hub in the Inland Northwest did not make the cut for the next funding round. Read more

• Antler invested $1.575 million in pre-Seed funding in 7 startups, spanning from edtech to deep tech
• Antler provides $225,000 at a $1.875 million post-money valuation for a 12% stake in startups
• Antler emphasizes long-term support for startups to maximize success and growth to Series A and beyond
• Antler’s partnership with Google Cloud includes a Portfolio Spotlight featuring the seven startups
• Startups like Authentified, Enrola, Braiv, Dark Patterns Lab, Communiti Labs, Pactify, and Enaxiom showcase diverse investment theses and promising potential

Antler Invests $1.575 Million in Pre-Seed Funding for 7 Startups

In the ever-evolving landscape of startup investments, Antler has made a significant move by investing $1.575 million in pre-Seed funding across 7 startups, spanning various sectors from edtech to deep tech. Read more

• Founderville fund launched with $6 million capital, attracting Greenville founders and tech startups
• Focus on supporting tech startups through a residency program at Flywheel Greenville
• Goal to add eight companies annually for a decade to build a robust startup ecosystem in Greenville
• Concern over aging population in Greenville and need to attract younger founders
• Emphasis on investment leading to growth in tech landscape and workforce, benefiting local businesses

Empowering Tech Startup Growth: Founderville’s Mission

In January 2023, Greenville-based NEXT launched the Founderville fund with an ambitious goal of nurturing tech startups in the Carolinas and Georgia. Read more

• Leading tech figures call for targeted intervention to help startups become scaleups
• More than 70 tech and investment leaders signed an open letter urging government action
• VenturePath proposes a six-stage process involving entrepreneurs, investors, and government
• Emphasis on providing startups with data, connections, community, and capital
• Signatories stress the importance of ensuring access to capital for entrepreneurs to maintain UK’s global competitiveness

Tech Leaders Call for Government Support to Help Startups Scale Up

In a recent development, leading tech figures have come together to urge the next UK government to provide targeted intervention to assist startups in becoming successful scaleups. Read more

• Schumer announces $40 million in Tech Hub funding for Buffalo-Rochester-Syracuse region
• Buffalo-Rochester-Syracuse region selected as one of 12 Tech Hub award winners in the nation
• Federal investment to boost Upstate New York’s workforce training, innovation, and supply chains
• Tech Hub designation aims to attract global companies to Western New York
• Funding to be used for projects led by UB, Monroe Community College, and Syracuse University to address growth challenges and benefit the community

Schumer Announces $40 Million in Tech Hub Funding for Buffalo-Rochester-Syracuse Region

In a groundbreaking development for the Buffalo-Rochester-Syracuse region, U.S. Read more

• U.S. Senate Majority Leader Chuck Schumer announces $40 million in tech hub funding for Buffalo-Rochester-Syracuse region
• Only 12 communities in the nation awarded prestigious Tech Hub designation, out of 400 applicants
• Funding to boost workforce training, attract new supply chains, and strengthen semiconductor industry in Upstate New York
• Designation expected to attract global companies and create jobs, such as Edwards Vacuum opening American headquarters with 600 jobs
• Initiative led by University at Buffalo, Monroe Community College, and Syracuse University to address region’s growth challenges and benefit the community

Buffalo-Rochester-Syracuse Region Awarded $40 Million in Tech Hub Funding

In a significant announcement, U.S. Read more

• US awards 12 regional ‘Tech Hubs’ funding to boost America’s competitiveness
• Silicon Valley’s entrepreneurial culture and tech opportunities
• CHIPS and Science Act aims to strengthen US semiconductor industry
• Tech Hubs program provides $10 billion over five years for high-potential regions
• Phase 2 of Tech Hubs program awards $504 million to 12 designees for specialized projects

US Tech Hubs Program: Boosting Regional Innovation and Investment

In the ever-evolving landscape of technology and innovation, the United States has always been at the forefront, with Silicon Valley serving as a beacon of success and ingenuity. Read more

• Vietnamese tech startups experience a significant decline in funding in the first half of 2024
• Seed-stage funding drops by 29%, early-stage investments decrease by 41%, and no funding for late-stage startups
• Ho Chi Minh City leads in funding, followed by Hanoi, highlighting regional investment distribution
• Top-performing sectors include transportation and logistics tech, edtech, and retail, with substantial funding increases
• Key investors like CyberAgent Capital and Insignia Ventures Partners drive investment activity despite challenges, with a focus on AI technology and software-as-a-service startups

Funding Halves for Vietnamese Tech Startups in First Half of 2024

The landscape of tech startup funding in Vietnam experienced a significant shift in the first half of 2024, with a notable decline in investment compared to previous periods. Read more

• President Joe Biden designates 31 new regional tech hubs across the U.S., including one in Montana, aimed at advancing technology.
• Montana’s Headwaters Tech Hub, led by Accelerate Montana, receives a $41 million grant to create jobs in optical and laser technologies.
• The consortium plans to focus on photonics, autonomy, artificial intelligence, and machine learning for applications like self-driving vehicles and agriculture.

• NestEgg, a fintech platform based in Amsterdam, secures funding from Germany’s STYX to expand financial services across Europe
• Partnership with STYX allows NestEgg to improve platform and service standards for homeowners and investors
• Homeowners can access home equity through NestEgg’s platform by selling a percentage of their home’s future value to investors
• STYX supports visionary entrepreneurs and aims to transform cities and buildings for a greener future
• STYX envisions home equity becoming a liquid and tradable asset class, potentially traded on the Amsterdam Stock Exchange

NestEgg Amsterdam Funding: Revolutionizing Home Equity Release

Amsterdam-based fintech platform, NestEgg, has recently made headlines by securing a significant investment from Germany’s STYX. Read more

• Endo Health, a Korean digital healthcare startup based in Silicon Valley, has secured pre-seed funding from top-tier US investors, including Andreessen Horowitz and Krew Capital.
• The total funding exceeds 1.3 billion won (USD 9.3 million) and will be used to revolutionize chronic disease management, starting with diabetes.
• Endo Health’s AI-driven personalized digital healthcare service focuses on diabetic and pre-diabetic patients, utilizing continuous glucose monitors to collect real-time data for effective condition management.

• Salter Brothers Tech Fund invests $4.9 million in veteran B2B software venture Marketboomer
• Marketboomer, founded in 1995, operates in 23 countries with a cloud-based procurement marketplace
• Investment to fuel growth in Australian market, expand in South East Asia and UK
• Salter Brothers Tech Fund takes 20% stake, aims for revenue diversification and global expansion
• Marketboomer CEO highlights collaborative synergies with Salter Brothers for significant growth opportunities

Salter Brothers Tech Fund Backs Veteran B2B Software Venture Marketboomer in $4.9 Million Raise

In a significant move within the tech investment landscape, the Salter Brothers Tech Fund has recently backed the veteran B2B software venture, Marketboomer, in a substantial $4.9 million funding round. Read more