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• Shoprite Group leads $125 million investment in retail tech startups through W23 Global VC fund
• Fund includes major grocery chains like Tesco, Ahold Delhaize, Woolworths Group, and Empire Company
• Focus on technology-first startups to enhance customer experience and digital transformation
• CEOs of partner companies to sit on the investment committee for equal partnership
• Aim to drive personalized shopping experiences, improve grocery value chains, and address sustainability challenges

Shoprite Group Leads the Charge in Retail Tech Startup Funding

In a groundbreaking move, the Shoprite Group, a South African retail giant, has taken the lead in establishing a new venture capital fund aimed at supporting the growth and innovation of retail tech startups. Read more

• WasteX, a climate tech startup, secures $450,000 in funding from P4G Partnerships to expand biochar technology.
• WasteX plans to establish biochar production facilities in strategic locations in Indonesia with the help of the funding.
• The biochar technology includes a small-scale carbonizer that enhances energy efficiency and minimizes environmental impact.
• WasteX aims to provide free biochar to local farmers in Indonesia and offer training programs for effective integration into agricultural practices.

• Estée Lauder backs $7M funding round for community powered platform, KIKI World
• KIKI World evolves into enterprise platform with backing from various investors including a16z
• KIKI World allows community participation in product innovation and rewards engagement
• KIKI’s proprietary software enables enterprise clients to launch community-driven campaigns
• KIKI’s focus on consumer-centric approach and blockchain technology attracts investors like Estée Lauder and a16z

Estée Lauder Backs $7M Funding Round For This Community Powered Platform

In the ever-evolving landscape of beauty and technology, Estée Lauder has recently made headlines by backing a $7 million funding round for KIKI World, a community-powered brand platform. Read more

• Australian start-ups experience a 45% drop in external funding in the March quarter, reaching a six-year low.
• Only 66 deals were made during the quarter, the lowest in six years, with a lack of lead investors slowing down investments.
• The pandemic initially saw a surge in start-up fundraising, but interest rate increases in early 2022 affected venture capital investments.
• While deal frequency decreased, average and median investment values rose, focusing on fewer but potentially more promising companies.

• Funding to African tech startups fell by 62% year-on-year in Q1 2024
• Mobility startups, particularly Moove, led the way in funding raised
• Only $38 million was raised by fintech startups in the same period
• Climate tech startups are expected to see increased funding in 2024
• Nigeria, Egypt, South Africa, and Kenya received 82% of the total funding

African Mobility Startups Lead Funding Despite Overall Drop in Q1 2024

In the first quarter of 2024, funding to African tech startups experienced a significant decline of 62% year-on-year. Read more

• Federal AI funding of $2.4 billion aims to accelerate adoption and commercialization in Canada’s AI sector
• Tech experts express excitement over the potential for increased affordability and productivity with AI development
• Concerns raised about Canadian businesses’ historical risk aversion towards adopting new technology
• Urgency emphasized for private sector and institutional investors to contribute to AI sector growth alongside public funding
• Specific initiatives include $200 million for boosting AI adoption in key sectors, creation of AI safety institute, and establishment of an office of the AI and Data Commissioner

AI Funding Boosting Adoption

In a significant move for Canada’s artificial intelligence industry, the federal government has announced a substantial funding injection of $2.4 billion. Read more

• US CHIPS Program funding for semiconductor R&D put on hold due to overwhelming demand, exceeding initial expectations
• Commerce Department halts plans to provide financial support for semiconductor research and development facilities
• Department remains committed to investing $11 billion in semiconductor R&D through other programs
• Commerce Secretary Gina Raimondo acknowledges challenge in allocating funds amidst high demand
• CHIPS Program Office to host webinar on April 9 to clarify R&D support strategies and future directions

Understanding the Impact of the CHIPS and Science Program Funding Hold

In a recent development, the Commerce Department has decided to put a temporary hold on its plans to provide financial support for semiconductor research and development facilities under the CHIPS and Science Act. Read more

• UCalgary to research adoption of digital technologies in agriculture with $1.2 million grant from Government of Alberta
• Research aims to help Alberta’s producers utilize robotics and data analytics for agricultural innovation
• Digital experts, farmers, ranchers, and producers will collaborate on effective technology adoption
• Previous funding supported the Simpson Centre’s Carbon Program until 2023
• Province’s ongoing support highlights commitment to advancing digital tech research in agriculture

Exploring the Impact of Digital Tech Research in Agriculture

The University of Calgary has embarked on a groundbreaking initiative to delve into the realm of digital technology research in agriculture, courtesy of a generous grant from the Government of Alberta. Read more

• Filter Capital successfully raises ₹800 crore for its debut fund, Filter Capital India Fund I, with 60% of capital from domestic investors and 40% from international investors
• The firm plans to invest in four to six additional companies, with a focus on software services-linked businesses and funding rounds ranging from ₹60 crore to ₹100 crore
• Nitin Nayar, co-founder, and Managing Director, highlights Filter Capital’s vision to support growth-stage technology companies in India and build a leading technology-centric growth investment platform
• Filter Capital targets Series B and C funding rounds, focusing on sectors like Software as a Service (SaaS) and technology services, including niche areas like AI-driven solutions
• The fund’s strategic investments in companies like Capillary Technologies, Chalo Mobility, THB, and LoadShare Networks aim to drive innovation, scale ventures, and contribute to the digital transformation of Indian businesses.

• Start-up funding saw a modest rise, with the tech industry receiving the largest share of $23 billion.
• Global start-up funding reached $66 billion in Q1 2024, a 6% increase from the previous quarter but a 20% drop from the previous year.
• AI start-ups secured $11.4 billion, accounting for 17% of global funding, with a focus on language models, humanoid robots, and AI avatars.

• TSMC secures $6.6 billion in CHIPS Act funding for construction of third Arizona fab
• Funding addresses delays at existing Arizona fabs
• President Biden aims to boost US semiconductor manufacturing with TSMC investment
• TSMC’s Arizona fabs to produce advanced chips for various industries by 2030
• TSMC to create thousands of jobs in Arizona, with focus on local worker training and development

Arizona Fab Construction: TSMC Secures $6.6B Funding for Third Fab

In a significant development for the semiconductor industry, Taiwan Semiconductor Manufacturing Company (TSMC) has secured $6.6 billion in CHIPS Act funding from the US Department of Commerce. Read more

• People’s Bank of China (PBoC) sets up a 500 billion yuan re-lending facility to support tech firms
• One-year loans at 1.75% interest to be provided to 21 banks for lending to technology firms
• China Development Bank, Postal Savings Bank of China, and other banks included in the lending program
• Loans can be extended twice, up to a year, offering low-cost funding for tech development
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Funding Tech Development: PBoC’s Bold Move

In a significant move to bolster the development of technology in China, the People’s Bank of China (PBoC) has announced the establishment of a 500 billion yuan re-lending programme. Read more

• Planys Technologies secures INR 43 crore funding led by Ashish Kacholia to enhance infrastructure inspection technology
• Founded by Vineet Upadhyay, the startup specializes in marine robotics, non-destructive testing, and intelligent data analytics
• The funding will be used to expand operational capacity and develop advanced inspection solutions
• Planys has conducted over 400 asset inspections globally in sectors like Ports, Oil & Gas, and Dams
• Indian government and VCs are increasingly supporting the deep-tech sector, with new schemes promoting research and innovation

Improving Infrastructure Inspection with Planys Technologies

In the ever-evolving landscape of technology and innovation, startups play a crucial role in introducing groundbreaking solutions to various industries. Read more

• Filter Capital closes Rs 800 crore maiden fund to support growth-stage tech firms
• Fund targets Series B and C rounds in software services-linked businesses
• Mumbai-based firm led by cofounders and managing directors Nitin Nayar and Sumit Sinha
• Capital deployment plan spans over five years
• Focus on better returns than traditional investments like stock and gold

Filter Capital Closes Rs 800 Crore Maiden Fund for Growth-Stage Tech Firms

Filter Capital, a Mumbai-based investment firm, has successfully concluded the final close of its Rs 800 crore maiden fund. Read more

• Canada’s Trudeau announces US$1.8 billion funding to boost AI sector
• Funding package of C$2.4 billion to accelerate AI research, start-ups, and businesses
• Additional funding to promote AI use in agriculture and healthcare sectors
• Establishment of AI safety institution and AI and Data Commissioner office
• Global trend of governments investing billions in AI sectors, including the US and Saudi Arabia

Canada’s Boost in AI Funding

Canada is making significant strides in bolstering its artificial intelligence (AI) sector with a substantial funding injection of US$1.8 billion. Read more

• Tech companies that raised funding in March 2024 include Nozomi Networks, Claroty, and Axonius.
• Global venture capital investments in the IT startup sector fell to a nearly five-year low in the first quarter of 2022.
• Startups with cybersecurity and big data products remained popular for investments in March.
• Axonius led the funding rounds with a US$200 million Series E round, followed by Observe with a US$115 million Series B round.

• Israeli cybersecurity exit deals increased by 65% in 2023 to $7.1 billion, comprising over half of total tech sector exits, highlighting the sector’s importance to Israel’s high-tech industry.
• Total tech sector exits, including mergers, acquisitions, IPOs, and buyouts, amounted to $11 billion in 2023, a decrease from $13.5 billion in 2022.
• Israel’s high-tech sector is a significant driver of the economy, contributing to employment, exports, tax revenue, and overall economic output.

• China’s central bank has launched a $70 billion tech lending program to support science and technology sectors.
• The program will provide loans through 21 banks to small and midsize technology enterprises at a favorable interest rate of 1.75%.
• Loans will have a duration of one year, extendable twice for up to a year to accommodate evolving needs.
• The initiative is part of broader efforts by China’s policymakers to address economic challenges and stimulate growth.

• Seed stage funding for AI-based startups is increasing, with a focus on companies offering AI as a service due to the growing demand for technological interventions in various sectors.
• AI-based startups in sectors like healthcare, logistics, energy, and fashion have raised $6.7 million in seed and pre-seed funding in 2024, a significant increase from previous years.
• Top three deals in 2024 were for AI-based startups, with companies like Attentive AI, RagaAI, and Vodex.ai

• Effort for ‘tech hub’ funding in Tulsa receives political boost from U.S. Sen. Markwayne Mullin
• Tulsa designated as a “Tech Hub” by the federal government, potentially receiving up to $70 million in funding
• Tulsa Innovation Labs leading the THETA initiative focusing on advanced autonomous technologies
• Mullin emphasizes the importance of technology in diversifying the state’s economy
• Mullin supports embracing artificial intelligence for positive advancements

Effort for ‘Tech Hub’ Funding in Tulsa

In a significant move towards establishing Tulsa as a prominent tech hub, U.S. Read more

• Panache Ventures and Kora form a strategic partnership to help African tech founders secure venture capital funding.
• The collaboration addresses challenges faced by African tech entrepreneurs in accessing funding to scale their ventures.
• The partnership was announced during the Venture Capital 101 event in Lagos, featuring industry leaders sharing insights on funding strategies and team building.
• The Nigerian startup scene experienced closures and successes in 2023, with funding for African startups declining by 54% compared to the previous year.

• Elon Musk’s AI startup xAI seeks $3 billion funding amidst legal battle
• Notable investors like Gigafund and Steve Jurvetson support xAI’s growth
• Competition in AI sector intensifies with companies like OpenAI and Anthropic raising billions
• xAI demonstrates ambition with AI models like Grok and Grok-1.5
• Musk’s lawsuit against OpenAI highlights ethical concerns in AI development

Elon Musk’s AI Venture Seeks Significant Funding Amidst Legal Battle

Investment Ambitions and Strategic Partnerships

Elon Musk, a prominent figure in the tech industry, is currently steering his artificial intelligence startup, xAI, towards securing a substantial $3 billion in investments. Read more

• Four travel tech startups specializing in different sectors raised over $7 million in funding this week
• Assembly, a luggage and travel gear brand, secured $2.1 million from Prath Ventures
• ETrav Tech, a travel distribution startup, received $4 million from EaseMyTrip for a 4.94% stake
• Stippl, a travel planning and social media app, raised $623,000 for AI integration and user growth
• Triply, a Kenyan startup, raised $500,000 as a member of Y Combinator to streamline operations for African travel companies

AI Trip Planning: Startup Funding Roundup

In the ever-evolving landscape of the travel industry, the role of technology, specifically Artificial Intelligence (AI), is becoming increasingly prominent. Read more

• Africa’s tech venture capital funding experienced a significant 51% year-over-year decline in Q1 2024, attributed to rising interest rates and global geopolitical tensions impacting investor confidence.
• Startups in Africa raised $369 million across 64 publicly announced deals in Q1 2024, with equity funding dominating at 67%.
• The mobility sector emerged as the funding leader in Q1 2024, with Nigerian startup Moove attracting $110 million through two deals.

• Canada to allocate $600 million for new construction tech including 3D printing
• Canadian Prime Minister Justin Trudeau announces funding to make building homes faster, easier, and cheaper
• New technologies like 3D printing can address housing challenges in Canada and other countries
• Budget 2024 includes measures to support innovative housing technologies and materials
• Initiatives aim to streamline home-building processes, bolster rental housing, and standardize home blueprints

Revolutionizing Construction Tech in Canada with $600 Million Investment

In a groundbreaking move, Canada’s Prime Minister Justin Trudeau has unveiled a visionary plan to revolutionize the construction industry in the country. Read more

• The EPA awarded $20 billion in grants to kickstart loans and equity investing in climate technologies across the country, with a focus on low-income and disadvantaged communities.
• A new U.S. green bank has been established to underwrite smaller climate projects that traditional banks overlook, aiming to attract private capital and spur green technology deployment.
• The Greenhouse Gas Reduction Fund, as the green bank is known, is expected to leverage $7-12 of private investment for every dollar dispersed, with a goal of reducing carbon emissions to net zero by 2050.

• NanoPattern Technologies secures $1.5 million seed funding to upscale production of specialized photopatternable quantum dot ink
• Company founded by Yu Kambe and Dmitri Talapin aims to revolutionize manufacturing of microdisplays for various devices
• Funding from NSF and George Shultz Innovation Fund crucial in attracting investors and advancing technology
• Quantum dots offer superior color quality and energy efficiency, driving growth in the industry
• Challenges in quantum dot industry include material stability, environmental concerns, and integration complexities; companies like NanoPattern investing in solutions

NanoPattern Technologies Secures Seed Funding for Innovative Quantum Dot Ink

NanoPattern Technologies Secures Seed Funding for Innovative Quantum Dot Ink

NanoPattern Technologies, a rising star in the quantum dot sector, has successfully secured a $1.5 million seed investment to propel the production of their cutting-edge photopatternable quantum dot ink. Read more

• Ontario budget allocates $12-million to Health Technology Accelerator Fund for healthtech procurement
• Neuralink opens applications to Canadian patients for experimental assistive technology
• Dialogue Health Technologies acquires assets of Koble Care for undisclosed amount
• Pelago Health raises $58 million in Series C round for telehealth services
• Notman House in Montréal up for sale, Guiker seeks community investors to acquire it

Ontario’s $12 million Health Technology Accelerator Fund

The Government of Ontario has taken a significant step in supporting the healthtech sector by allocating $12 million to establish a Health Technology Accelerator Fund. Read more

• A new publicly traded fund, Destiny Tech100, allows individual investors to own shares of private tech companies like Stripe and SpaceX.
• Historically, it has been challenging for retail investors to invest in privately held tech start-ups due to restrictions on accredited investors.
• The fund aims to democratize access to high-growth private tech companies and plans to expand its holdings to include stock in 100 start-ups.

• Ailytics secures $2.7 million in pre-Series A funding led by Tin Men Capital for AI-driven video analytics solutions in heavy industry
• Tin Men Capital’s 11th investment in B2B tech startups targets industries with capital investments and large workforces
• Funds to be used for R&D and market expansion to Hong Kong, Middle East, Japan, and Oceania
• CEO Lenard Tan emphasizes safety and productivity enhancement through advanced video analytics solutions
• Ailytics’ solutions show significant impact with over 1,000 integrated cameras across multiple countries, improving hazard detection and reducing manual inspections

Ailytics Secures $2.7M Pre-Series A Funding Led by Tin Men Capital

In the realm of tech startups, securing funding is a crucial milestone that can propel a company towards growth and success. Read more