Category: Startups

• Deepika Padukone’s 82°E plans to raise Rs 50 crore from Ka Enterprises and other investors
• Modi 3.0 introduces familiar faces and fresh additions in the Cabinet
• India aims for policy changes to boost job creation and investment
• Modi’s Cabinet 3.0 sends a clear message of no tolerance for underperformance
• Global giant entering Blinkit and Zepto’s turf must focus on key actions

Deepika Padukone’s Fundraising Efforts for 82°E to Raise Rs 50 Crore

Deepika Padukone, the renowned Bollywood actress, has been making waves not just on the silver screen but also in the world of philanthropy. Read more

• African tech startups raised $187 million in May, marking a significant increase from the previous month and making it the second-highest fundraising month in the last six months.
• The funding was raised by 64 startups, with 40 receiving grants of at least $100,000, including grants from CcHUB and iHub as part of the Mastercard Foundation EdTech Fellowship.
• 17 startups raised at least $1 million, with $7.5 million in grants, $58 million in equity funding, and $121.5 million in debt financing.

• Tech Startups in the Environment sector are attracting significant funding from VCs, with close to 10% of global equity funding going into this sector in 2024.
• The USA’s market share in Environment Tech funding has decreased from 62% in 2018 to less than 40% in 2023, while Europe and India have seen a significant increase in contributions.
• Indian startups are focusing on sectors like Solar Energy, Hydrogen Production, and Electric Vehicles, with a notable emphasis on drought resilience through wastewater management.

• Wind Capture Technologies is developing a novel technology that captures carbon from the air processed by utility-scale wind farms.
• Co-founded in 2022 by Aaron Boylan and Ronan Hearne, the Irish company plans to conduct a large-scale pilot project for its carbon capture technology.
• The technology involves a proprietary wind turbine blade that harvests carbon directly from the air, which can then be mineralized and stored underground.

• Startup Funding Doubts: Conigital’s £500m funding offer has not closed, leading to questions and employee payment issues
• Conigital’s £500m funding offer, though widely reported, has not materialized and is contingent on due diligence completion
• Conigital employees face delays in receiving salaries, with some owed wages and pursuing employment tribunals
• Conigital withdrew from taxpayer-funded projects due to private sector funding delays, impacting its financial stability
• Despite challenges, Conigital founder remains optimistic, continues to court investors, and promotes a reduced bridge round on its website

Startup Funding Doubts: The Story of Conigital

In the fast-paced world of startups, securing funding is a crucial milestone that can make or break a company’s future. Read more

• V2 Digital, a digital and data consultancy, secures $30m funding from Columbia Capital to scale rapidly
• Founded in April 2023, V2 Digital leverages data, software, cloud, and design expertise to deliver value for clients
• The funding aims to enhance V2’s growth trajectory, expand its consulting team, and broaden its geographical reach
• Columbia Capital partners with experienced entrepreneurs to build tech-enabled businesses for large enterprises
• V2 Digital has a strong leadership team, experienced specialists, and a track record of delivering transformative solutions

Unlocking Growth: V2 Digital Secures $30M Funding for Expansion

In a significant move that underscores its commitment to rapid expansion, Australian tech startup V2 Digital has secured a substantial AU$30 million in funding from Columbia Capital. Read more

• Torpago, a commercial credit card and spend management provider, raises $10 million in Series B funding round led by Priority Tech Ventures and EJF Ventures.
• The investment will support Torpago’s ‘Powered By’ solution, a white-label commercial credit card platform aimed at helping regional banks compete with fintechs.
• The funding will be used to enhance implementation and compliance resources and expand Torpago’s product suite.

• Ten local tech innovation companies and entrepreneurs awarded funding from Augment the City competition to explore immersive technology for innovative visitor experiences in Belfast
• Immersive technologies like AR, VR, and MR are seen as crucial for enhancing future attractions in Belfast, funded by the Belfast Region City Deal
• Projects focus on preserving diverse voices and stories, including children, deaf and hearing-impaired individuals, and those who are neurodiverse
• Companies will push boundaries for innovation through collaboration with tourism partners to create new visitor attractions
• Augment the City Challenge competition supports creative digital companies in Belfast to develop concepts using emerging technologies, with future funding planned for selected projects

Innovation Technology Solutions Enriching Belfast’s Visitor Experiences

In today’s rapidly evolving world, innovation has become the cornerstone of progress and development across various industries. Read more

• Ittybit, a pioneering tech company based in Salford, has successfully closed a £1.5m oversubscribed Tech Funding Round with investors including Mercuri and Sure Valley Ventures.
• The funding will support Ittybit’s mission of providing AI-led media pipelines to developers globally, simplifying the management of large video, image, and audio files.
• Early clients like Strength:Lab and a large podcast have seen significant benefits using Ittybit’s technology, such as reduced bandwidth costs and enhanced content search functionality.

• Reflect Festival 2024, a tech and entrepreneurship event, featured RIF as a Gold Sponsor, showcasing innovative funding programs and fostering entrepreneurial growth in Cyprus
• RIF’s Director General, Theodoros Loukaidis, emphasized Cyprus’ goal to become a regional innovation hub and highlighted the importance of attracting talent and international partnerships
• Panel discussions at the festival included Cypriot entrepreneurs sharing global expansion stories and the pivotal role of RIF in fostering innovation and growth
• RIF’s funding programs, like INNOVATE and DISRUPT, were instrumental in accelerating the success of companies like EnergyIntel and Medicover Genetics
• Discussions led by RIF focused on AI’s impact on emerging technologies, the importance of green data centers, and nurturing scientific startup ecosystems for success

RIF drives innovation forward at Reflect Festival

Reflect Festival 2024: A Convergence of Innovation and Technology

The Reflect Festival 2024, held on May 30-31 at Kolla Factory in Limassol, was a celebration of innovation, technology, and entrepreneurship. Read more

• Healthtech startup Spike secures $3.5M Seed funding for AI solutions in healthcare industry
• Spike offers non-diagnostic RAG AI products through white-labelled SDKs for health professionals and end users
• Spike’s health data API aggregator platform sources biomarkers from 300 providers, serving clients like Seguros SURA and fitness apps
• Practica Capital and TheVentureCity co-lead funding round with participation from various investors
• Seed investment to drive development of regulatory-compliant Generative AI products and expansion into broader sensor data aggregation

Understanding Healthtech Startup Funding: Spike Secures $3.5M Seed Funding

In the ever-evolving landscape of the healthcare industry, startups like Spike are paving the way for innovative solutions that bridge the gap between technology and health. Read more

• Climate-tech startup LogicLadder secures $2.5 million in Series A funding led by BIG Capital and Rainmatter
• Founded in 2011 by Mayank Chauhan and Atindra Chandel, LogicLadder offers sustainability and climate management solutions globally
• Funding to expand footprint in South Asia and North America; aim for global revenue to surpass India revenue
• Flagship platform, The Sustainability Cloud, helps manage ESG, carbon emissions, environmental compliance, and sustainability reporting
• Emphasis on transparency in climate action for enterprises; LogicLadder serves over 1,000 enterprise customers, including NTPC, BHEL, and PVR-INOX

Exploring the Success of Climate-Tech Startup LogicLadder

In the realm of climate technology, startups like Climate-Tech Startup LogicLadder are making waves in the industry. Read more

• Elev8 Venture Partners leads $14 million funding in spiritual tech startup Astrotalk
• Astrotalk receives $14 million investment with Elev8 contributing $7 million
• Funds to be used for regional language expansion, global presence, and team expansion
• Astrotalk founded in 2017, serving 4.5 million active users and 20,000 astrologers
• Elev8 Venture Partners focuses on global expansion, investing in sectors like B2B SaaS and healthcare tech

Spiritual Tech Startup Astrotalk Secures $14 Million Funding Led by Elev8 Venture Partners

In a significant development for the spiritual tech industry, Elev8 Venture Partners has taken the lead in a $14 million funding round for the innovative startup Astrotalk. Read more

• Tidal Ventures receives a significant funding boost from the Queensland Venture Capital Development Fund (QVCDF) managed by QIC for local startups
• The investment will support Tidal Ventures’ mission to partner with high-growth Australian startups in sectors like cybersecurity and customer experience
• The funding from QVCDF will be used for Tidal’s third fund to provide critical capital and strategic guidance to technology businesses
• Tidal Ventures engages closely with founders, investing time and expertise at every stage of a company’s growth
• The partnership aims to drive investment in innovative local technology startups and support Queensland-led innovation and growth in the technology sector

Tidal Ventures Secures QIC Funding Boost for Local Startups

In the realm of Australian startup support, the recent injection of funding from the Queensland Venture Capital Development Fund (QVCDF), managed by the Queensland Government’s investment arm QIC, has sparked excitement within the tech investment community. Read more

• South 8 Technologies secures Porsche funding to develop safer EV battery component
• South 8 Technologies received backing from multiple investors, including Anzu Partners and Lockheed Martin Ventures
• South 8’s LiGas electrolyte solution aims to enhance battery performance in various industries
• The technology can withstand extremely cold temperatures, potentially eliminating issues faced by Tesla in winter
• South 8’s CEO, Tom Stepieh, envisions the technology benefiting space exploration and improving safety in energy storage facilities

Revolutionizing Battery Technology with Porsche Funding

In the realm of technological advancements, the pursuit of safer and more efficient energy solutions remains a top priority. Read more

• UPES Dehradun’s Runway Incubator Scheme secures funding from DST to support tech business start-ups
• UPES contributes Rupees 1.02 crore, while DST provides Rupees 3.88 crore for the incubator
• Incubator focuses on deep tech start-ups in AI, ML, Sustainability, and AgriTech
• Aims to offer seed support grants, comprehensive support, training, guidance, and access to advanced facilities
• Open to start-ups from nearby regions, fostering innovation and addressing global challenges

UPES Dehradun’s Runway Incubator Scheme: Fueling Tech Business Start-ups

The University of Petroleum and Energy Studies (UPES) in Dehradun has recently made headlines with the launch of its Runway Incubator scheme, aimed at funding tech business start-ups. Read more

• Canada’s Global Innovation Cluster, DIGITAL, is investing $10.5 million in AI projects for healthtech startups
• Cue Health, a San Diego biotech, is closing after FDA warning on COVID-19 test kits
• Montréal’s Startupfest announces agenda with notable speakers like Shopify president
• London Drugs faces cybersecurity breach with leaked employee data on the dark web
• Co.Labs in Saskatoon receives $2.5 million federal funding for tech event and XiR program

Unlocking Healthtech AI Funding Opportunities

In the rapidly evolving landscape of health technology, securing funding is crucial for startups looking to innovate and make an impact. Read more

• Green materials startup Claros Technologies secures $22 million to develop technology for destroying PFAS “forever chemicals”
• PFAS are persistent chemicals found in various consumer and industrial products since the 1940s
• Claros Technologies uses green chemistry and advanced material science to filter and destroy PFAS, achieving 99.99% destruction rate
• The company also offers services for high-value metals recovery and technology for producing durable textiles with special properties
• Funding round co-led by Ecosystem Integrity Fund and American Century Investments, highlighting the urgent need to address PFAS pollution and the potential market growth for sustainable solutions

Revolutionizing Environmental Solutions: Claros Technologies’ $22 Million Funding Boost

In a significant move towards combating the pervasive issue of PFAS contamination, sustainable materials-focused startup Claros Technologies has successfully secured $22 million in new funding. Read more

• YoLa Fresh, a Morocco-based agriculture technology company, secures $7 million in pre-Series A funding to expand its logistics network and improve technology.
• The startup aims to eliminate middlemen in the fresh food supply chain by connecting farmers directly with retailers and food service companies.
• Co-founded by Youssef Mamou and Larbi Alaoui Belrhiti, YoLa Fresh utilizes technology to ensure transparency and minimize waste in the supply chain.

• Life Sciences projects secure share of £900k in funding, including innovations like wound-healing product from maggot secretions and a Multiple Sclerosis test
• Projects funded by SMART FIS program, aimed at promoting research, development, and innovation in Wales
• Innovations include larval secretion products for wound healing, handheld medical device for wound dressing, diagnostic blood test for MS, natural sweetener production, and organ replacements using bioprinting
• Funding supports Welsh organizations in achieving innovation excellence and expanding into new markets
• Economy Secretary Jeremy Miles emphasizes the importance of driving cutting-edge research and innovation to improve people’s lives and build a stronger economy in Wales

Life Sciences Projects Secure Share of £900k in Funding

Introduction

In a groundbreaking development in the field of life sciences, innovative projects have secured a share of £900,000 in funding support. Read more

• $100M Wisconsin Investment Fund launched in Madison, focusing on tech and biohealth start-ups
• Fund receives $50M from federal government and $50M from venture capital firms
• Cardamom Health, a Madison-based data analytics firm, to be one of the first recipients of the fund
• Governor Evers highlights the fund as the largest investment in startups in Wisconsin’s history
• Fund to prioritize investments in technology, healthcare, agriculture, manufacturing, with a focus on biohealth sector

Wisconsin Investment Fund: A Boost for Tech and Biohealth Startups

In a significant move to bolster the startup ecosystem in Wisconsin, the state has announced the creation of the Wisconsin Investment Fund. Read more

• Amsterdam-based startups secured significant funding in May, indicating investor confidence and new opportunities for job seekers.
• 10x.team offers subscription services for executives and solutions like software code review, currently hiring.
• A renewable energy storage startup raised €10M, utilizing rusting and unrusting of metallic iron, and is actively hiring.
• Struck simplifies compliance for architects and developers through automated checks, not currently hiring.

• Startup Eneryield secures additional seed funding from ABB and Chalmers Ventures
• Eneryield develops AI-powered technology to predict faults and prevent outages in power grids
• Intelliview solution integrates seamlessly into existing power networks without additional hardware
• ABB sees synergies with Eneryield to enhance prediction systems for power networks
• Chalmers Ventures supports Eneryield as an example of successful deep tech spin-out from research

Startup Energy Funding: Eneryield Secures Additional Seed Funding

In the dynamic world of startups, securing funding is a crucial milestone that can make or break a company’s success. Read more

• Lagos attracts 80% of innovation funding into Nigeria, with the Commissioner for Innovation, Science and Technology highlighting the state’s pivotal role in driving innovation investment in the country and Africa.
• A stakeholder engagement forum discussed the proposed Lagos Innovation Bill, aiming to establish a policy framework to encourage continuous innovation investment and position Lagos as an innovation powerhouse.
• The Lagos Innovation Bill, if passed into law, would provide incentive packages for technology companies in the state to foster growth and development of technology.

• Conexus Venture Capital Inc. launches new venture capital fund to support Saskatchewan tech ecosystem
• Conexus Credit Union invests $15 million in CVC Fund #2 to boost Saskatchewan startups
• CVC Fund #2 aims to raise $30 million to back high-growth tech companies in Saskatchewan
• Conexus Venture Capital Inc. emphasizes commitment to Saskatchewan tech ecosystem at “Uniting the Prairies” conference
• CVC Fund #1’s success prompts launch of CVC Fund #2 to continue supporting Saskatchewan tech startups

Conexus Venture Capital Inc.’s

• Nigerian tech startups face a funding drought, impacting their growth and success.
• Despite Nigeria being a major hub for startups in Africa, funding for tech startups has declined significantly in recent years.
• Challenges in securing funding include investor priorities shifting due to events like the COVID-19 pandemic.
• Solutions proposed for startups include crafting a compelling pitch deck, understanding investor criteria, demonstrating early traction, maintaining clear financial statements, and participating in reputable programs and networks.

• VC funding in Irish start-ups and small businesses has fallen by nearly half in the first quarter of 2024 compared to the same period last year
• Despite the decrease, investment in the last three quarters has held up well against global uncertainty
• Seed funding and funding in the €1-3m deal size sector showed resilience in the latest quarter
• International funding into Irish SMEs fell by 57% in the first quarter, highlighting overreliance on foreign investors
• IVCA will advocate for Irish pension savers to invest in Irish start-ups under the planned auto enrollment scheme

Irish VC Funding Landscape in 2024

Venture capital funding in Irish start-ups and small businesses has experienced a significant decrease in the first quarter of 2024, marking a notable decline compared to the same period in the previous year. Read more

• Tech startups in Nigeria face challenges in attracting investments amid a funding drought
• Nigerian startups have historically attracted significant investor interest and funding
• Funding for African tech startups dropped by more than 45% in the first quarter of 2024
• Despite challenges, opportunities exist for innovative startups to secure investments and thrive
• Successful fundraising requires a compelling pitch deck, understanding investor criteria, demonstrating early traction, and having realistic financial projections

How Nigerian Tech Startups Navigate the Funding Landscape

In the dynamic world of tech startups, securing investments is often a make-or-break factor for success. Read more

• Buffalo, Rochester, and Syracuse are awaiting decisions on their bid for $54 million in tech hub funding to bolster the semiconductor industry.
• The U.S. Economic Development Administration is expected to announce the winners of the tech hub competition in late June or early July.
• If successful, the federal funding will be supplemented by an additional $10 million from New York state, totaling $64 million for the initiative.

• Amsterdam-based Vortex Capital Partners launches a new €145M tech fund to support high-growth potential SMEs
• The fund is the fourth buyout fund by Vortex, targeting small and medium-sized software and tech companies in Europe
• Vortex Capital Partners, founded in 2012, actively invests in companies using technology uniquely and offers operational expertise
• The firm’s investment strategy focuses on companies making €3M to around €30M annually with national and international growth potential
• Vortex plans to expand its team and aims to promote responsible business practices in its future investments

Amsterdam’s Vortex Capital Partners Launches €145M Tech Fund

Amsterdam-based Vortex Capital Partners has made headlines with the recent launch of a new €145M tech fund aimed at backing high-growth potential SMEs in the technology sector. Read more