Category: Startups

• Canadian tech startups unveil new funding at Collision conference in Toronto
• Montréal-based Heylist secures $1.6 million in first-ever funding round
• Toronto-based Vosyn announces $2.2 million seed funding for AI language translation
• Ability Biologics closes seed funding extension, totaling $24.7 million CAD for drug discovery
• EdTech startup Pok Pok raises $6 million in Series A funding for app development and STEM expansion

Canadian Tech Startups Unveil New Funding at Collision Conference

The tech industry in Canada received a significant boost as the Collision conference in Toronto kicked off, showcasing the innovation and growth of several Canadian tech startups. Read more

• MIT spinout The Engine Ventures raises new $398 million fund to tackle tech’s toughest problems
• CEO Katie Rae focuses on investing in advanced technologies for climate change, AI, and health
• The Engine Ventures has raised over $1 billion in assets and invested in 50+ companies
• The firm aims to de-risk technology and scale startups through seed and series A rounds
• Investments span climate tech, AI, quantum computing, and biotechnology, with a focus on sustainability and impact

MIT Engine Ventures Raises $398 Million Fund for Tech Innovation

In a world where climate change, advanced AI, and health crises loom large, the need for innovative solutions has never been more pressing. Read more

• NATO Innovation Fund targets AI, robotics, and novel materials to boost membership defence, security, and resilience capabilities.
• Fund makes first investments in deep tech startups and capital fund managers to promote technological sovereignty.
• Investments focus on companies in novel materials, manufacturing, AI, and robotics to enhance deep tech hubs.
• Portfolio companies promised access to defence, government, and commercial markets across allied members.

• Alyve Health, a health-tech startup based in Mumbai, secures $5.5 million in Series A funding led by Axilor Ventures
• Funding round also sees participation from existing investor 1Crowd Fund and healthcare-focused fund Inhealth Ventures
• Company plans to utilize funding to acquire talent, enhance platform and services, and expand operations
• Alyve Health offers comprehensive healthcare services to individuals, employers, and businesses, integrating with payers, intermediaries, and providers
• Startup aims to fortify platform and enhance data, security, and AI capabilities to provide an assured experience for all stakeholders

Alyve Health Secures $5.5M in Series A Funding Round

In a significant development in the health-tech industry, Mumbai-based startup Alyve Health has successfully raised $5.5 million in a Series A funding round. Read more

• Scottish tech start-up iGii raises £8.8m in funding for global expansion
• iGii produces graphene-enhanced electrodes for human diagnostic and energy markets
• Funding to be used for creating point-of-care diagnostic sensors, Gii-Sens, for various illnesses
• £4m investment from Scottish National Investment Bank, £4.8m from existing shareholders
• Investment to support research into other applications of Gii technology

Scottish Tech Start-Up iGii Secures £8.8m in Funding

In the latest exciting development for the Scottish tech start-up scene, iGii has successfully raised £8.8m in funding. Read more

• UAE tech startup fund GMCL shortlists Bengaluru for future investments, analyzing the market for Fund I and upcoming Fund II
• GMCL, led by Andreea Danila, closed its first fund at $20 million, investing in 15 startups, focusing on IP-focused technology businesses
• Plans for divestment opportunities by 2026-27 and launching Fund II in 18 months to invest in AI, deeptech, blockchain, decentralized finance, and cloud computing
• GMCL looks to invest in Indian entrepreneurs in emerging tech hubs, believing Bengaluru will contribute significantly to the next large public listed companies
• The firm sees potential in India’s market growth, talent, and government support, expressing optimism in Bengaluru’s future as a tech hub

Exploring Bengaluru: A Potential Investment Hub for UAE Tech Startup Fund

The UAE-based Global Millennial Capital (GMCL) has set its sights on Bengaluru as a potential market for future investments through its Fund I and upcoming Fund II. Read more

• NATO’s €1 billion venture capital fund, the NATO Innovation Fund (NIF), has made its first investments in defense tech startups to enhance technological edge amid geopolitical tensions.
• The NIF has invested in four “deep tech” startups, including ARX Robotics, Fractile AI, iCOMAT, and Space Forge, focusing on AI, advanced materials, and space technology.
• The fund, backed by 24 NATO member states, aims to support emerging technologies that strengthen defense and resilience, with a focus on European regions lacking early-stage funding.

• You.com startup is targeting the AI assistants market in its latest funding round, aiming to secure $50 million in fresh capital
• The company, SuSea Inc, behind You.com is valued between $700 million and $900 million, focusing on AI-infused search engine technology
• You.com has seen fluctuations in web traffic and app downloads, facing competition from tech giants like Google, Microsoft, and OpenAI
• The company has shifted its focus to AI assistants for productivity and internet search, led by CEO Richard Socher, a former Salesforce chief scientist
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• Albany Tech introduces funding options for nursing students’ housing costs
• Three new funding options available for nursing students in the Living and Learning Community
• Funding opportunities aim to reduce housing expenses and offer financial stability to nursing students
• Options include Albany Tech Foundation Housing Scholarship, Phoebe Putney Health System Work Commitment, and AB&T Lending Program
• Initiatives designed to support students pursuing nursing education and alleviate financial burdens

Exploring Tech Funding Options for Nursing Students’ Housing Costs

In recent news, Albany Tech has introduced new funding options to support nursing students residing in the Living and Learning Community. Read more

• Hotel and short-term rental tech startups raised over $70 million in funding last week, focusing on enhancing guest experiences and operational efficiency.
• Canary Technologies secured $50 million in series C funding led by Insight Partners, highlighting the value of simplifying the guest experience in the hospitality industry.
• Matsuri Technologies raised $8.5 million in series D funding for its platform catering to short-term rental management, with plans to strengthen software products and expand operations.

• Kfund secures €70 million for sixth fund to double-down in Southern Europe high impact-startups
• Kfund’s new fund, K3, aims to intensify support for high-impact projects in Southern Europe
• Kfund has a history of backing significant technological initiatives in Spain, supporting founders from early stages to scaleups
• Kfund’s range of funding vehicles supports projects from pre-seed to Series A stages, with investments from €100k to €10 million
• Kfund remains committed to fostering job creation and local wealth generation in Southern Europe through investments in disruptive technologies

Kfund Secures €70 Million for Sixth Fund

In a significant development for the startup ecosystem in Southern Europe, Kfund, a multi-stage family of funds supporting entrepreneurs across the region, has successfully secured commitments exceeding €70 million for its sixth fund. Read more

• Lagos State government allocates ₦1 billion in seed funding for startups through LASRIC
• Governor Sanwo-Olu highlights Lagos as a hub for successful startups and emphasizes innovation in THEMES Agenda
• LASRIC, comprising industry, academia, and public sector experts, has created jobs and boosted innovation in Lagos
• FIRS drops tax evasion charges against individuals at Binance, with Binance as the sole defendant
• MultiChoice reports revenue losses and subscriber decline, focusing on cost savings and digital expansion

Lagos State Startup Ecosystem: A Boost with ₦1 Billion Seed Funding

Hey there, let’s dive into the exciting news from Lagos State regarding the allocation of ₦1 billion in seed funding for startup innovation. Read more

• Oyo, once valued at $10 billion, is finalizing new funding at a $2.5 billion valuation
• The startup is raising $100 million to $125 million from high-net-worth individuals
• Oyo has shelved its IPO plans and is seeking approval from existing shareholders for the new funding
• The company’s founder, Ritesh Agarwal, took a $2 billion debt in 2019 to increase his stake in Oyo
• Oyo, which operates as a budget-hotel chain, reported a net profit of $12 million in the last financial year

Oyo Funding Valuation Takes a Hit as New Round Finalizes

Oyo, the Indian budget-hotel chain startup, has been making headlines recently with its decision to finalize a new funding round that significantly slashes its valuation to $2.5 billion. Read more

• Canary Technologies, a leader in hotel guest management technology, secures $50 million in Series C funding round led by Insight Partners, bringing total capital raised to nearly $100 million.
• The company’s AI solutions streamline hotel operations, enhance efficiency, and improve guest experiences, with over 20,000 hoteliers worldwide using their platform, including major brands like Wyndham, Marriott, Hilton, and Four Seasons.
• The funding will be used to build a world-class team and accelerate innovation, with a focus on modernizing hotel technology stack to deliver superior guest experiences.

• Zambian e-commerce construction startup Bosso secures $400k in pre-seed funding
• Founded in 2022, Bosso is the largest online marketplace for building materials in Zambia
• Bosso integrates over 1,000 hardware stores, supplies raw materials to 200 homebuilders, and serves four districts
• Funding from angel investors and venture capitalists will be used to develop new products and expand operations
• Bosso plans to launch a new platform offering essential services, introduce AI technology, and expand across Southern Africa

Zambian E-Commerce Startup Bosso Secures $400k in Pre-Seed Funding

In the realm of African building and construction industry, innovation is key to driving growth and efficiency. Read more

• Monk AI, an Indian startup, is pioneering AI-driven tech education with a focus on upskilling digital marketers.
• The field of Digital Marketing is dynamic and fast-paced, requiring professionals to keep up with emerging trends and technological advancements.
• Monk AI offers courses ranging from 3 to 12 months, focusing on AI in digital marketing, prompt engineering, design thinking, AR, and VR.
• Founder Abhimanyu Nayyar emphasizes the urgent need for upskilling in AI, stating that AI tools are here to stay and will revolutionize marketing.

• UK tech funding roundup: UKTN tracked £139.2m worth of UK tech investment this week, a 379% week-on-week increase across 11 funding rounds
• Health tech startup Amber Therapeutics secured Series A funding from investors including New Enterprise Associates and F-Prime Capital
• Energy company Echion Technologies raised Series B funding from investors such as Volta Energy Technologies and CBMM
• Fintech startup Sidekick received seed funding from investors like Pact VC and Octopus Ventures for its wealth management platform
• Cybersecurity firm OnSecurity, based in Bristol, secured seed funding to deliver penetration tests for computer systems and networks

Amber Therapeutics Secures Series A Funding for Health Tech Innovation

In the bustling world of UK tech funding, Amber Therapeutics has emerged as a standout player in the health tech sector. Read more

• Max Retail secures $15 million Series A funding led by Nosara Capital to help independent retailers sell excess inventory
• Whizz raises $12 million in Series A funding to provide e-bike subscriptions for last mile delivery drivers
• Swiipr receives £6 million in Series A funding to revolutionize the airline compensation process
• Grubtech raises $15 million in Series B funding to enhance its SaaS integration platform for F&B enterprises
• Slip secures a £2.5 million seed round to digitize receipts and provide insights for retailers

Max Retail Secures $15 Million Series A Funding

In the world of retail technology funding, Max Retail has made significant waves by announcing a $15 million Series A round led by Nosara Capital. Read more

• Centrepolis Accelerator at Lawrence Technological University receives an additional $2 million in funding from the Ralph C. Wilson Jr. Foundation to support startups and small businesses in Southeast Michigan with hardware and physical product innovations.
• The funding strengthens Centrepolis’s Evergreen Service-Based Investment Fund, providing essential product development services for companies in industries like advanced manufacturing, clean energy, circular economy, industrial decarbonization, and defense.

• Space manufacturing company Apex secures $95 million Series B funding to increase production of satellite buses
• The funding round was led by XYZ Venture Capital and CRV to meet the growing demand for satellites, particularly from the U.S. Department of Defense
• Apex plans to ramp up production following the launch of its first bus in March and the opening of a new factory
• Founded in 2022, Apex has raised a total of $122 million and is focusing on a productized approach to satellite manufacturing
• Venture capital funding for space tech startups is increasing, with $3.3 billion already raised in 2024 compared to $5.8 billion in the previous year

Space Tech Startup Lands $95M For Satellite Buses

In the realm of space technology, funding plays a crucial role in propelling innovative startups forward. Read more

• Indkal Technologies, a Bengaluru-based startup operating in consumer electronics, has raised $36 million (around Rs 300 crore) in a funding round led by Mauritius-based Aries Opportunities Fund.
• The funding will be used to enhance product development infrastructure, set up a large research & development facility, and expand distribution and service infrastructure to support growth aspirations.
• Indkal Technologies aims to reach Rs 8,000 crore in the next two to three years and is focused on becoming a leader in product management and development in India.

• Drone delivery startup Skye Air secures $4 million in funding
• Modi 3.0 introduces new faces and policies for growth in India
• Five suggestions for banks to increase deposits
• WinZO takes legal action against Hike for IP breach and poaching
• PTC twins use INR1 crore to save top brass from regulatory issues

Drone Delivery Startup Skye Air Raises $4 Million in Funding

In recent exciting news, the drone delivery startup Skye Air has successfully secured $4 million in funding. Read more

• TEDCO enhances MII Commercialization Funding to drive economic development in Maryland
• MII program provides funding through Technology Assessment and Company Formation phases
• Technology Assessment Grant supports university faculty in validating technologies for commercial viability
• Company Formation Grant supports start-up companies in Maryland based on licensed university technologies
• Enhancements to MII program aim to extend support for researchers and foster economic growth in Maryland

TEDCO Enhances MII Commercialization Funding

In a bid to further boost Maryland’s innovation ecosystem, TEDCO has recently announced significant updates to the Maryland Innovation Initiative (MII) program. Read more

• Funds are targeting beauty platforms, with Purplle raising $100 million
• Modi 3.0 introduces new faces and policies for growth in India
• WinZO takes Hike to arbitration over IP breach and poaching
• PTC twins use INR1 crore to save top brass from regulatory issues
• Cognizant’s Ravi Kumar makes a significant M&A move

Funds Flocking to Beauty Platforms

Beauty platforms have been garnering significant attention from investors lately, with funds making a beeline to support the growth of these innovative ventures. Read more

• Zepto’s financing round, led by DST Global and Lightspeed, may value the company at around $3 billion
• Modi 3.0 introduces new faces and policies for job creation and investment growth in India
• Cabinet 3.0 signals a clear message from Modi about leadership and performance
• WinZO takes legal action against Hike for IP breach and poaching in gaming wars
• PTC twins use INR1 crore to save top brass from regulatory issues

Zepto Financing Round: DST Global, Lightspeed, and Others Joining the Valuation at $3 Billion

Zepto, a rising star in the financial technology sector, is currently in talks with major investors for a new financing round that could potentially value the company at around $3 billion. Read more

• Legal tech startup Atticus, bootstrapped and profitable, secures $10.8 million from VCs after 7 years
• Atticus, founded in 2017, offers document review software for law firms and listed entities
• CEO Thom Mackey plans to use the funding for sustainable growth and international expansion
• Atticus has gained significant traction with Australia’s corporate legal firms and UK’s top law firms
• Skip Capital CEO praises Atticus for streamlining the verification process for legal and investor documents

Bootstrapped & Profitable Legal Tech Startup Atticus Takes on $10.8 Million from VCs in First Raise after 7 Years

In the fast-paced world of legal tech startups, Atticus has made a significant mark by securing $10.8 million from venture capitalists in its first funding round after seven years of bootstrapping. Read more

• Seed deals are on the rise in India amid a decline in VC-PE funding
• VC and PE funding in India decreased from $62 billion in 2022 to $38 billion in 2023
• India remains the second-largest destination for VC and growth funding in the Asia-Pacific region
• Sectors like consumer tech, fin-tech, and SaaS attracted 60% of total funding in 2023
• Funding landscape faced challenges of inflation, high interest rates, and global economic uncertainties, leading to a decline in the number and size of deals

Seed Deals on the Rise in India

In the dynamic landscape of venture capital (VC) and private equity (PE) funding in India, a notable trend has emerged amidst the overall decline in funding. Read more

• African startups secured an impressive $187 million in funding in May, marking a significant 149% increase from the previous month.
• The funding breakdown revealed that 4% came from grants, 31% from equity, and 65% from debt, showcasing diverse investment strategies.
• Notable deals included Kenyan fintech M-KOPA and electric vehicle maker Spiro, highlighting the attractiveness of various sectors to investors.
• Despite the total funding for the year being lower than previous periods at $729 million, the surge in May indicates the resilience and potential of African startups.

• Agtech startup Farmbot successfully raises $4.6 million for US expansion, exceeding initial target of $3 million
• Existing investors Telstra and Macdoch Ventures support Farmbot’s funding round
• Farmbot launches US subsidiary Ranchbot, focusing on a market ten times larger than Australia’s
• Farmbot’s IoT platform, MyFarmbot, enhances farming operations through water monitoring and predictive analytics
• Co-founder Andrew Coppin emphasizes Farmbot’s commitment to growth and innovation in smart farm management solutions

Agtech Startup Farmbot Secures $4.6 Million Raise for US Expansion

Agtech startup Farmbot has recently closed a successful funding round, raising an impressive $4.6 million to fuel its expansion plans in the United States. Read more

• Expon Capital closes second generation of Digital Tech Fund at €19.4m to support early-stage startups
• Fund participants include Luxembourg government, SNCI, Banque Internationale à Luxembourg, and private investors
• Fund aims to develop Luxembourg’s startup ecosystem by investing in innovative digital companies
• Portfolio consists of early-stage companies committed to expanding across Europe
• Sectors targeted for investment include cybersecurity, fintech, regtech, big data, digital health, digital learning, and IoT

Digital Tech Fund: Second Generation Closes at €19.4m

The Luxembourg-based VC firm Expon Capital has successfully concluded the final closing of the second generation of the Digital Tech Fund, securing an impressive €19.4m in funding. Read more