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• A consortium of over 100 regional organizations in Philadelphia has submitted a proposal for $80 million in EDA Tech Hub funding
• The proposal aims to build global competitiveness in the tech sector over 10 years, focusing on precision medicine projects
• The Greater Philadelphia consortium requested $75 million from the EDA and received $9 million in matching funds
• The proposal is divided into five sections: governance, biomanufacturing, workforce, access, and entrepreneurship
• Key goals include creating a diverse and skilled workforce, increasing accessibility to precision medicine, and supporting company growth through grants and mentorship opportunities

Philadelphia Tech Hub Proposal: A Closer Look at the $80M Funding Plan

In a bid to secure funding from the US Economic Development Administration (EDA) for the Greater Philadelphia Region Precision Medicine Tech Hub, a consortium of over 100 regional organizations has put forth a comprehensive proposal. Read more

• The Chancellor of Ekiti State University announced the launch of a N1bn agro-tech fund to support student and graduate enterprises.
• The initiative was unveiled at the university’s 28th convocation to drive innovation and enterprise in agriculture for food security in Nigeria.
• The fund aims to empower agro-tech companies founded by present graduands and students of the university.
• Students are encouraged to engage in food production by leasing small plots of land on the university’s fertile grounds.

• Astrotalk is set to raise $30 million in a fresh funding round from StepStone and Elev8 Venture Partners.
• The Noida-based startup has shown profitable growth and strong user traction, attracting continued VC interest.
• Astrotalk’s revenue increased from Rs 115 crore in FY22 to Rs 283 crore in FY23, with net profit also rising.
• Elev8 Venture Partners and StepStone are global funds showing interest in Astrotalk’s potential.

• African tech VC funding declined 51% YoY in Q1 2024, with startups raising $369 million across 64 deals
• Equity funding dominated with 67% of deals, while debt funding and mixed deals made up the rest
• Mobility sector led funding in Q1 2024, with Nigeria’s Moove securing a significant share
• “Big Four” markets of Nigeria, Kenya, South Africa, and Egypt secured over 90% of Q1 2024 funding
• Early-stage funding prevailed in Q1 2024, while growth-stage funding saw a notable drop due to foreign investor dependence

African Tech Funding Decline in Q1 2024

In the first quarter of 2024, African tech funding faced a significant decline of 51% year-over-year, according to data from BD Funding Tracker. Read more

• GT Green Technologies secures £1.25 million in seed equity funding to accelerate sustainable shipping innovation, particularly in wind-assisted technology.
• AirWing™ by GT Green Technologies is a flagship product aimed at reducing fuel costs, carbon emissions, and aiding compliance with environmental regulations in commercial shipping.
• Funding round led by OnePlanetCapital and supported by strategic investments from Carisbrooke Shipping and climate-focused angels, with over 500 retail investors on Seedrs.

• SiMa.ai secures $70 million in funding for edge AI/ML, plans to launch second-generation MLSoC in 2025.
• Funding led by Maverick Capital, with participation from Point72 and Jericho, along with existing investors.
• First-generation MLSoC focuses on vision-centric edge inference, future generations to support various modalities with improved performance and efficiency.
• SiMa.ai aims to provide a single software-centric platform for all edge AI applications, catering to evolving customer needs.

• UK announces £16.6m funding to bolster semiconductor innovation for green technologies
• Funding through Innovate UK to build semiconductors for power electronics in industries like transport and energy
• New equipment in Newcastle and Strathclyde for researchers and businesses to test and develop semiconductors
• Funding supports National Semiconductor Strategy, aiming to reach net zero emissions by 2050
• Semiconductors crucial for decarbonization in transportation, AI, energy, and data centers, with potential to save significant energy and reduce CO2 emissions

Semiconductor Innovation Funding: UK Injects £16.6m to Drive Green Technologies

The UK semiconductor industry is on the brink of a significant boost with the announcement of a £16.6m funding injection aimed at fostering semiconductor innovation for green technologies. Read more

• Women-Led healthtech ventures in Africa experienced a remarkable 2,000% increase in funding from 2022 to 2023, rising from 1% to 31% of total funding.
• Despite a global decline in startup investments, African healthtech remained resilient with only a 2% decrease in funding in 2023.
• Online pharmacy solutions attracted the most investor interest, with significant funding going to companies like Kasha, MyDAWA, and Yodawy.

• AI startup market experiences sluggishness in Q1, despite persistent hype
• Venture capital investing and fundraising show a significant decline
• Startup valuations see a slight increase across growth stages
• AI investments remain a focal point for investors, driving new funding rounds
• Lack of significant funds raised by VCs may pose challenges for early-stage startups in the near future

Persistent AI Hype: A Closer Look at the Startup Market

The startup market in the first quarter of the year has been far from buoyant, despite the persistent hype around artificial intelligence (AI) technologies. Read more

• FHSU, NCK Tech, and Northwest Tech seek federal funding for workforce development
• Sen. Jerry Moran meets with college presidents and consultant to discuss funding opportunities
• Focus on matching community needs with education to retain Kansas students
• Emphasis on creating a skilled workforce to attract and retain businesses in Kansas
• Consultant aiding in securing federal grants for affiliation initiatives and workforce development

Exploring Federal Funding for Tech Colleges in Kansas

In a significant development for workforce development in Kansas, Fort Hays State University (FHSU) and the technical colleges, NCK Tech and Northwest Tech, are on the cusp of finalizing their affiliation agreement. Read more

• CryoLogyx completes £500k seed funding round led by private UK business angels and the Wider Oxford Technology Angel Network
• Funding to support commercialization of cryopreserved cell technology, scale up production of assay-ready cells, and expand reach in UK and Europe
• Company spun out from University of Warwick in 2020 by CEO Dr. Tom Congdon and CSO Professor Matt Gibson
• Proprietary macromolecule cryoprotectant technology, Cryoshield, reduces post-thaw damage and saves researchers time
• Funding will allow for team expansion, scale production of cell-based assays, and accelerate development of new products and services.

• HD, a health tech startup, secures USD 5.6 million in funding round led by SBI Ven Capital
• WasteX raises USD 450,000 from P4G Partnerships for biochar production
• Viruma receives funding from Cyber Agent Capital for prop tech platform development
• Animoca Brands invests in USD 25 million funding round of Xion blockchain platform
• Updates on 14 China and India deals in Asia Pacific tech funding landscape

HD Secures USD 5.6 Million in Series A Funding

In recent tech funding news, HD, a health tech startup, has successfully secured USD 5.6 million in a Series A funding round. Read more

• Remarkable, a disability tech accelerator and investor, globally backed a US catheter startup’s $9.1 million Seed round through its Scaler initiative
• Aurie, a New York medtech startup founded in 2018, developed a reusable, no-touch, intermittent catheter system for people with spinal cord injuries to reduce UTIs
• Remarkable’s Scaler initiative supports disability tech startups and aims to create global change in the disability space through technology
• Applications for the next Remarkable accelerator cohort are open, offering bespoke support, mentoring, access to a global network, and $100,000 in Seed funding
• The accelerator program runs from June 17 to October 4, with an “Ask Me Anything” Zoom session on April 10 and applications closing on April 29.

• Southeast Asia’s startups, including Grab and GoTo, are facing challenges in funding and market confidence amidst a “startup winter”
• SoftBank’s Vision Fund played a significant role in the growth of Southeast Asia’s tech sector, but its collapse has left many companies uncertain about their future
• The region’s startup investment has fallen significantly, leading to shutdowns, mergers, and downrounds in financing
• The focus on growth over profits has led to financial struggles for many startups, with a need for more sustainable growth strategies
• Investors believe the region’s startup ecosystem will eventually recover, with a shift towards prioritizing profitability and sustainable growth

Southeast Asia Startups Facing Funding Challenges

In the dynamic landscape of Southeast Asia’s startup scene, companies like Grab and GoTo have been navigating through a challenging period of dwindling investor confidence and funding constraints. Read more

• Compliance tech leader Formalize secures €15m Series A funding led by BlackFin Tech
• Funding milestone marks pivotal step in rebranding and expansion efforts
• Formalize offers innovative compliance operations platform to ease EU regulatory burdens
• Funds to enhance platform capabilities and automate compliance workflow
• Evolution from whistleblower platform to comprehensive compliance software demonstrates adaptability and growth

Transforming Compliance with €15m Series A Funding

Formalize, the compliance tech leader formerly known as Whistleblower Software, has reached a significant milestone by securing a substantial €15m in Series A funding. Read more

• The Ion District in Houston released its 2024 Community Investment Report, showcasing its dedication to enhancing the tech ecosystem.
• Initiatives in 2023 included workforce development to meet the growing demand for tech jobs in Houston.
• The Ion District partnered with Per Scholas for a Tech Job Training and Talent Placement Program, benefiting numerous students.
• Efforts were made to support local minority and women-owned businesses through various initiatives and funding opportunities.

• Diageo provides seed funding to accelerate glass industry decarbonisation in North America and India through Glass Futures expansion
• Partnership aims to explore new technologies and system-wide approaches to reduce glass carbon emissions in key markets
• Diageo’s collaboration with Glass Futures has already led to significant carbon footprint reductions in the UK
• Investment reflects Diageo’s commitment to ESG goals and reducing Scope 3 carbon emissions by 50% by 2030
• Glass Futures’ expertise and industry networks crucial for advancing global glass circularity and sustainability

Diageo’s Investment in Glass Industry Decarbonisation

In an effort to accelerate the decarbonisation of the glass industry, Diageo, a global leader in the beverage alcohol industry, has recently announced a significant seed investment to support the expansion of Glass Futures’ activities into North America and India. Read more

• Google is funding AI tools for nonprofits, including the World Bank, investing over $20 million into ‘AI for good’
• Google.org Accelerator: Generative AI supports high-impact nonprofits with funding, technical training, and mentorship for AI integration
• Participating nonprofits are developing AI-powered tools like assistants, search interfaces, and chatbots for various social challenges
• Google’s AI Opportunity Agenda advocates for global AI integration and workforce development, with a focus on vulnerable communities
• The first cohort of 21 nonprofits in the accelerator program includes projects from diverse industries and AI applications, such as the World Bank’s generative AI tool for policy makers

Google AI Funding for Nonprofits

In a move to support nonprofits in leveraging the power of artificial intelligence, Google has committed over $20 million towards ‘AI for good’ initiatives. Read more

• UK Tech Funding: Startup funding in the UK dropped by 19% in Q1 2024.
• Tracxn Report: Tracxn’s analysis revealed a decline in funding for UK startups, with late-stage ventures most affected.
• Funding Trends: Late-stage startups saw a 33% reduction, while early-stage funding declined by 7% in Q1 2024.
• Seed Investments: Seed funding experienced a 12% increase, but still fell short by 27% compared to the previous year.

• Community bank CEOs are tackling challenges related to technology, talent, and deposits amidst changing consumer expectations.
• CEOs emphasize the importance of fair lending strategies, marketplace assessments, and peer lending in navigating the digital future.
• The CEOs identify technology, talent acquisition, and net interest margins as significant obstacles in the current operating environment.
• They highlight the impact of regulatory overreach and the need for differentiation between big and small banks.

• A well-structured go-to-market strategy is crucial for deep tech start-ups to secure investment and accelerate commercialization.
• Deep tech founders must assess their positioning, target markets, and unique value propositions to strengthen their negotiating position.
• Implementing a “Whole Product” strategy that integrates the product into the ecosystem is essential for deep tech start-ups.
• Leveraging advocates and industry key opinion leaders can help secure funding and accelerate the commercialization plan.

• Vienna-based XUND, a health tech scale-up, secures €2M in extended Seed funding round, bringing total funding to €8M
• New investor Thieme Group joins existing investors MMC Ventures and MassMutual Ventures in funding round
• XUND collaborating with Thieme Group since 2020 to enhance patient communication and health literacy
• Funds to develop Medical Large Language Models for personalized medical content dynamically
• XUND’s AI-powered health assistant aids in symptom and risk assessment, catering to healthcare companies for digital interactions

Xund Secures €2M in Extended Seed Funding Round

Austrian health tech scale-up Xund has recently made waves in the industry by securing an additional €2M in an extended Seed funding round. Read more

• Israel-based chipmaker Hailo secures $120m funding, totaling over $340m since 2017
• Funding coincides with launch of Hailo-10 AI accelerator
• Investors include Zisapel family, Comasco, and OurCrowd
• Hailo specializes in AI accelerators and software suites for global customers
• Hailo-10 GenAI accelerator enhances processing capabilities for personal computers and automotive systems

Israel’s Hailo Secures $120m Funding for AI

In the realm of cutting-edge technology, Israel’s Hailo has made waves by securing a substantial $120m funding for its innovative AI endeavors. Read more

• Early green tech failures in Europe’s Innovation Fund raise doubts about its success in supporting new clean technologies
• The Innovation Fund aims to prevent key industries from moving to the US by investing in zero-carbon technologies
• Despite backing major projects, like the world’s first green steel plant, manufacturing and hydrogen sectors have faced challenges
• The Fund collects money from polluting industries to invest in clean technologies, with a focus on reducing CO2 emissions
• Europe’s green manufacturers struggle with competition from US subsidies and cheap Chinese products, impacting projects like solar panel manufacturing and green hydrogen production

Understanding the Green Tech Failures in Europe

The European Union’s ambitious plan to transition to a zero-carbon economy by the middle of the century has hit some roadblocks, with early green tech failures casting doubts on the effectiveness of the €40 billion Innovation Fund. Read more

• Startup Praia Health, spun out of Providence incubator, secures $20M in funding
• Praia Health develops platform for patient portals to enhance patient experience
• Providence Digital Innovation Group incubated Praia Health, now led by CEO Justin Dearborn
• Funding led by Frist Cressey Ventures, with support from SignalFire and Providence Ventures
• Praia Health’s technology already serving over 3.5 million users, with Indiana’s Community Health Network as a customer

Revolutionizing Patient Portal Tech: Praia Health Secures $20M Funding

In the dynamic landscape of healthcare technology, the emergence of startups dedicated to enhancing patient experiences is a welcome development. Read more

• Illinois’ Bloch Quantum Tech Hub seeks Phase 2 funding for quantum advancements
• Supported by local government and industry leaders for economic growth and innovation
• Aim to secure further financial backing for quantum solutions in cybersecurity, energy, and healthcare
• Partnership with over 50 entities to drive economic benefits of $60 billion in the region
• Quantum technology industry poised for significant growth, requiring skilled workforce and overcoming technical challenges

Quantum Tech Funding: Bloch Hub’s Ambitions

Illinois’ Bloch Quantum Tech Hub, based in Chicago, is on a mission to secure Phase 2 funding to advance quantum technologies in the region. Read more

• Health Tech sector hiring remains robust, with a projected increase of 15-20% in 2024
• Indian digital healthcare sector benefits from increased health awareness, telemedicine growth, and technological innovation
• Despite a ‘funding winter’ in 2023, Health Tech sector saw a 74% employment surge in the past two years
• Gender diversity in the sector is notable, with women constituting 24% of the workforce and 18% in executive roles
• The sector anticipates regaining momentum in 2024, with a surge in demand for skilled professionals

Health Tech Hiring Trends in 2024

In the ever-evolving landscape of the healthcare industry, the role of technology has become increasingly prominent. Read more

• The UK Fintech sector is a leading segment in the UK tech ecosystem, ranking third in funding raised in Q1 2024 after the US and China.
• Tracxn’s Geo Quarterly Report: UK Tech Q1 2024 highlights insights into the UK tech space, with a total of $2.5 billion raised in Q1 2024, showing a decline from previous quarters.
• Late-stage investments in Q1 2024 were notably affected, with a decline in funding compared to previous quarters.

• Tech-betting mutual fund investors lost over 4% in March, particularly in Aditya Birla Sun Life Digital India Fund.
• Technology funds saw a decline of around 3.96%, prompting speculation on potential changes in April.
• Recommendations for the best mutual funds to invest in.
• An article on Hari Shankar Tibrewala and his involvement in channeling illicit funds into stock markets.
• Discussion on the safety versus competitive pricing of India-made cars in global crash tests.

• **Health Tech Funding**: Several major funding announcements in the payer/employer space were made in March.
• Bethesda-based HiLabs raised $41 million in a Series B funding round led by Denali Growth Partners and Eight Roads Ventures.
• New York City’s Pelago secured $151 million in a Series C funding round led by Atomico, supporting substance use management programs.
• San Francisco’s Brightside Health raised over $100 million in a Series C funding round led by S32, focusing on telemental health services.