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• Simera Sense secures €13.5 million in expansion funding round
• Company offers high-resolution cameras for small satellite Earth observation industry
• Earth observation and space market projected to reach USD 20.73 billion by 2029
• Funds to be used for expanding production capacity and developing higher-resolution camera products
• Focus on advancing on-board data processing to set new industry standard

Simera Sense Secures €13.5 Million for Expansion

In a significant move towards enhancing its global presence and technological capabilities, Simera Sense has successfully secured €13.5 million in its latest funding round. Read more

• Shifty Eye Games secures $580K funding and welcomes renowned gaming experts as advisors
• Funding from Canadian government aims to promote Canadian gaming industry globally
• Advisors include industry veterans like Alex Seropian, Vikas Gupta, and Justin Ratushniak
• CEO Tuncer Deniz excited about the potential of advisors to elevate the studio
• Studio focuses on creating fun and unique gameplay experiences, gearing up for a major release in 2025

Shifty Eye Games Secures Funding for Future Growth

In a recent development that has sent ripples through the gaming industry, Shifty Eye Games, an independent game studio based in Calgary, Alberta, has successfully secured $580,500 in funding. Read more

• Google.org launches AI accelerator fund to support nonprofits in harnessing generative AI technology for social impact projects
• Research shows nonprofits see potential in generative AI but face challenges in adoption due to lack of tools, awareness, training, and funding
• Six-month accelerator program offers technical training, workshops, mentorship, and funding of over $20 million for selected projects
• Generative AI can enhance productivity, creativity, and effectiveness in social impact initiatives, reducing time and costs
• Initiative aims to demonstrate how AI can be used for social good and empower organizations to address pressing social challenges

Google.org’s

• Flying taxi startup TCab Tech raises $20 million in series A funding for development and commercialization in the Middle East and Asia
• Blueground, a furnished rentals operator, secures $45 million in series D funding, with plans to expand globally and enhance technology
• Ember receives $13.9 million in series A funding to expand its fleet of electric buses for inter-city travel in Scotland
• Moonware, a platform for airport ground operations, raises $7 million in seed funding to streamline tasks at major airports
• Overall, travel tech startups secure nearly $86 million in funding for various innovative projects in the industry

TCab Tech Raises $20 Million for Flying Taxi

Flying taxis have been a hot topic in the tech world, with startups like TCab Tech making significant strides in this innovative sector. Read more

• Fintech startup funding increased by 48% in Q1 2024, reaching $429 million between January and March 15, with two startups receiving $100 million each.
• Only $1.6 billion was injected into India’s tech startup ecosystem in the first quarter, a 51% decline from the previous year, with a total of 222 funding rounds compared to 432 in the same period last year.

• Y Combinator’s Demo Day is approaching, with startups landing funding ahead of the event
• Investors are noticing high-quality startups receiving term sheets from VCs
• YC is focusing on both software and hardware ideas, with a growing interest in AI applications
• Demo Day is becoming less of a starting point for VCs to invest, as many companies secure funding before the event
• YC’s reputation for quality early-stage investments is on the rise under the leadership of Garry Tan

YC Startups Secure Funding Ahead of Demo Day

As the excitement builds around Y Combinator’s upcoming Demo Day on April 3 & 4, the startup accelerator is already making waves in the investment world. Read more

• UK tech funding deals this week include Oriole, WASE, and Metaview
• £32.15m worth of funding deals tracked by UKTN, with AI and clean economy startups prominent
• Oriole, a UCL spinout founded in 2023, offers efficient language model training
• WASE, established in 2017, converts waste materials into sustainable fuel
• Metaview, founded in 2018, provides AI support for the hiring process

AI and Clean Energy Startups Lead the Way in UK Tech Funding

In this week’s UK tech funding roundup, companies like Oriole, WASE, Metaview, and more have secured significant investments in the ever-evolving tech landscape. Read more

• P1 Ventures secures $35 million in latest funding round completion
• Second fund closed at $25 million, attracting capital from industrial conglomerates, private companies, and global fund partners
• Expansion plans to Dakar, Senegal, and Nairobi, Kenya
• Focus on sectors like AI-powered SaaS to tap into Africa’s economic potential
• World Bank’s IFC joins as public institutional investor to support early-stage tech startups

Expanding Horizons: P1 Ventures Secures $35 Million in Latest Funding Round Completion

In exciting news for the tech investment landscape, P1 Ventures, a pan-African Seed Venture Capital (VC) fund, has successfully closed its second round of funding, securing an impressive USD 35 million. Read more

• Coro, a cybersecurity platform for SMEs, secures $100m in Series D funding led by One Peak, aiming to enhance cybersecurity solutions for SMEs
• Funding to be used for product innovation, organic growth, and strategic acquisitions, including recent acquisition of Privatise in 2023
• Coro offers all-in-one security software addressing endpoint, email & user, and network & cloud protection, catering to SMEs facing cyber-attack threats
• Plans to expand support for North American MSPs and resellers, establish local marketing and channel teams, and increase brand awareness globally
• Recognized for excellence and innovation in cybersecurity, Coro aims to solidify its leadership position in the SME cybersecurity sector

Cybersecurity SME Funding: Coro Secures $100m in Series D Round

In a significant development for cybersecurity in the realm of small and medium-sized enterprises (SMEs), Coro, a pioneering cybersecurity platform tailored specifically for SMEs, has successfully raised $100m in a Series D funding round. Read more

• Google.org launches $20M generative AI accelerator program to fund nonprofits developing tech leveraging generative AI
• Program includes 21 nonprofits like Quill.org and World Bank, offering grants, technical training, workshops, mentors, and guidance from an “AI coach”
• Google.org fellowship program will involve Google employees working full-time with Tarjimly, Benefits Data Trust, and mRelief to help launch their generative AI tools
• Generative AI can enhance social impact teams’ productivity, creativity, and effectiveness in serving communities
• Nonprofits face barriers in adopting AI due to cost, resources, and time constraints, but interest in AI innovation aligning with missions is high

Google.org

• Super{set} raised $90 million to double down on building startups focused on data and AI for enterprise products and services.
• The startup studio has a track record of successful exits, with the co-founders having sold companies for a total of $1.2 billion before investing in super{set}.
• Super{set} focuses on the engineering of AI applications, offering an alternative to traditional fundraising for entrepreneurs.

• ValidMind secures $8.1m in seed funding to enhance AI transparency in FinTech.
• Investment led by Point72 Ventures, with contributions from various firms, totaling $11.1m in funding for ValidMind.
• ValidMind focuses on providing AI risk management solutions for financial services, automating testing, documentation, and governance of AI models.
• The company aims to address the challenges of AI integration in finance, ensuring compliance with regulations and managing associated risks.

• Matter Venture Partners raises $300M first fund to invest in ‘hard tech’
• Co-founders Wen Hsieh and Haomiao Huang left Kleiner Perkins to start Matter Venture Partners, focusing on hard tech investments
• The $300 million fund is considered one of the largest “first funds” raised in 2023
• Matter Venture Partners invests in large seed rounds, Series A, and Series B for hard tech startups
• The fund focuses on six key areas within hard tech, aiming to provide foundational technologies for societal trends

Matter Venture Partners Raises $300M First Fund to Invest in ‘Hard Tech’

In the fast-paced world of venture capital, new players are always emerging with innovative strategies and a keen eye for promising technologies. Read more

• Indonesian tech startups funding declines 36 percent in first quarter of 2024
• Total funding in Indonesia tech sector reaches $91.7 million in Q1 2024, down from $143 million in Q1 2023
• Late-stage investments drop by 99 percent, while early-stage funding increases by 26 percent
• FinTech, enterprise applications, and real estate tech lead in funding in Q1 2024
• Jakarta emerges as the top city for tech startup funding in Indonesia, with East Ventures, AC Ventures, and Alpha JWC Ventures as active investors

Overview of Indonesian Tech Startups Funding Decline

In a recent report by Tracxn, it was revealed that Indonesian tech startups faced a funding decline of 36 percent in the first quarter of 2024 compared to the same period in 2023. Read more

• Eindhoven’s Integer Technologies secures pre-seed investment from Graduate Entrepreneur Fund, backing the startup specialized in sustainable energy installation solutions.
• Integer Technologies, founded by Antoine Post and Pau Brossa Rodriguez, aims to simplify and optimize sustainable energy installations in residential and office buildings through a hardware and software platform.
• The company’s platform streamlines smart software development for energy installations, making them faster, more cost-effective, and simpler to implement.

• Satgana, a climate tech VC, closes its first fund targeting early-stage startups in Africa and Europe, reaching a final close of £8 million ($8.6 million).
• The firm, led by founder Romain Diaz, decided to close the fund early due to a challenging fundraising environment and has already invested in 13 startups out of the 30 it aims to support.
• Satgana focuses on investing in startups working on climate change resilience, particularly in sectors like mobility, food and agriculture, energy, and the circular economy.

• Ontario budget includes top-up for existing programs and supports healthtech procurement
• Ontario government prioritizes investments in infrastructure and healthcare due to economic challenges
• Commitments to technology sector include additional funding for Invest Ontario Fund and creation of Health Technology Accelerator Fund
• Plans to invest in Regional Innovation Centres, advanced research computing, digital twins for infrastructure projects, and Critical Minerals Innovation Fund
• Ontario Securities Commission developing rules to support angel investor groups and broaden sources of capital

Ontario Budget Boosts Healthtech Initiatives

The latest annual budget from the Government of Ontario has captured attention for its renewed focus on the province’s technology sector, particularly in the realm of healthtech. Read more

• Celestial AI, an optical interconnect developer, secures $175 million in fresh funding, with participation from major semiconductor suppliers like Samsung Electronics and Advanced Micro Devices.
• The company’s technology, Photonic Fabric, enables data transport as light instead of electricity, enhancing memory bandwidth and capacity by 25 times while reducing power consumption significantly.
• Photonic Fabric allows for increased HBM3 memory in AI server clusters without the need for additional processors, potentially lowering hardware costs.

• The carbon-tech subsegment within the climate tech category presents attractive opportunities for early-stage investors, with a focus on carbon-capture startups and emissions measurement software.
• Climate tech encompasses various sectors such as mobility, energy, industrial processing, food, and the built environment, offering alternatives to high-carbon processes and innovative solutions for climate change mitigation.
• VC investment in climate tech saw rapid growth from 2021 to the end of 2022, but challenging market conditions have recently reduced deal activity in the sector.

• Galway-based accelerator funding: Mbryonics, a Galway-based space-tech company, secures €17.5m from the European Innovation Council (EIC) accelerator for developing optical systems for high-speed, secure communication infrastructures.
• Manufacturing facility: The funding will be used by Mbryonics to establish a manufacturing, assembly, and testing facility for optics and photonics in Ireland within the next five years.
• Technology focus: Mbryonics specializes in wireless optical transport and coherent photonic-optical transceiver technologies used in satellite communications, datacoms, and 5G.

• New Summit Investments is raising a new $100 million Climate Tech Fund to support climate tech and underrepresented fund managers.
• The fund will allow the firm to continue investing in managers supporting startups focused on environmental and social issues.
• New Summit’s previous fund closed at $40 million in 2022, and the new fund marks a significant increase.
• The firm invests in various funds, including venture capital, real estate, and infrastructure, with $115 million in assets under management.

• UAE tech start-ups set for better funding in 2024 with a projected surge in venture capital market to $1.1 billion
• UAE ranks 2nd in the Middle East and 28th globally in the Global start-up Ecosystem Index
• MENAPT region sees $519.7 million in investments in January, with UAE and Israel leading in funding
• Dubai’s VC ecosystem ranks as the fastest-growing globally, attracting start-ups and funds
• UAE’s VC market growth driven by government support, diverse economy, and young, tech-savvy population

UAE Tech Start-Ups Poised for Funding Surge in 2024

In 2024, tech start-ups in the UAE are set to thrive in a more favorable environment with an anticipated increase in funding opportunities. Read more

• London tech startup Oriole Networks secures £10m seed funding to accelerate AI model training
• Oriole Networks uses innovative technology to connect AI chips for faster and energy-efficient training of large language models
• Funding round co-led by UCL Technology Fund, Clean Growth Fund, XTX Ventures, and Dorilton Ventures
• Demand for data centers rises as tech companies develop AI-powered products, leading to concerns over energy consumption and emissions
• Clean Growth Fund praises Oriole’s Net Zero innovation as a solution to the escalating energy consumption of data centers

London Tech Startup Oriole Secures £10m Seed Funding

London tech startup Oriole Networks has made waves in the AI industry by successfully securing £10m in a seed funding round. Read more

• Elon Musk supports call for tech industry accountability, joining Marc Andreessen in questioning funding of controversial activist causes
• Andreessen criticizes tech leaders for supporting “terrible activists” involved in “horrendous things” over the past decade
• Musk endorses Andreessen’s statement, sparking discussions on potential impact on tech industry and business community
• Andreessen, a prominent figure in tech, has previously challenged Musk’s views but both share concern for ethical implications of industry funding
• Musk’s endorsement of accountability highlights shared commitment to addressing ethical concerns in tech industry

Elon Musk’s Support for Tech Accountability

Elon Musk, the CEO of Tesla Inc, has recently joined Marc Andreessen in advocating for greater accountability in the tech industry. Read more

• SEA tech startups experience a 13% decline in funding in the first quarter of 2024
• Funding in the sector amounts to $816 million, the lowest in five quarters
• Late-stage funding drops by 80%, while seed-stage funding decreases by 36%
• FinTech, enterprise applications, and retail are the top-performing sectors
• Singapore leads in startup funding, with $604 million raised in the first quarter of 2024

Decline in Funding for SEA Tech Startups

The Southeast East Asia (SEA) tech startup ecosystem has experienced a significant decline in funding, with a 13 percent drop in the first quarter of 2024 compared to the same period last year. Read more

• New fund, Higher Education Innovation Fund (HEIF), launched by Department of Science and Innovation and UNDP to support university tech entrepreneurs
• Fund aims to cultivate entrepreneurship and innovation culture in South African higher education institutions, focusing on job creation and spin-off companies
• Dr Blade Nzimande envisions growing the fund to R1 billion, inviting private sector companies and funding institutions to contribute
• HEIF to address challenges like lack of skilled student tech entrepreneurs, limited entrepreneurial support and networks, and inadequate exposure to opportunities
• Fund to provide support for students in entrepreneurship, design thinking, business model development, market access, intellectual property protection, and investor readiness

Empowering University Tech Entrepreneurs: The Higher Education Innovation Fund

In a significant move to support and nurture tech entrepreneurship within universities, the Department of Science and Innovation (DSI) and the UN Development Programme (UNDP) have launched the Higher Education Innovation Fund (HEIF). Read more

• Vietnam tech startups funding falls 39 percent in first quarter of 2024, totaling $35.7 million
• Vietnam ranks third in Southeast Asia for tech startup funding, behind Singapore and Indonesia
• Early-stage investments drop by 47 percent compared to 2023, with no late-stage funding for three consecutive quarters
• Be Group secures highest funding in Series B round, with AutoTech and EdTech sectors performing well
• Ho Chi Minh City leads in city-wise funding, with CyberAgent Capital, Nextrans, and Vietnam Silicon Valley as top investors

Vietnam Tech Startups Funding Decline in Q1 2024

In the first quarter of 2024, Tracxn reported that Vietnam’s tech startup ecosystem faced a significant decline in funding, with a total of $35.7 million raised to date. Read more

• UAE startup funding landscape shifting towards tech, renewable energy, and tourism ventures
• Technology platforms like Incomlend connecting smaller businesses to major international investors for financing
• Government support driving UAE’s ambition to become a tech hub, attracting investors
• Emerging focus on innovation and sustainable business in the investment sector
• Technologies like AI, blockchain, and fintech reshaping investment practices in the UAE

Revolutionizing UAE Startup Funding Landscape

In recent years, the UAE has emerged as a hotspot for global investors and venture capitalists looking to redirect their funding towards innovative startups in sectors such as technology, renewable energy, and tourism. Read more

• The inaugural Innovation Funding and Support Conference held in Birmingham’s STEAMhouse marked a significant milestone for the West Midlands’ manufacturing, engineering, and technology sectors.
• Approximately 200 businesses and 20 exhibitors participated in the event, aimed at enhancing the region’s research, development, and innovation landscape.
• Keynote speakers, including industry luminaries like Charlie Blakemore and Rowan Crozier MBE, shared insights on innovation, technology, and growth strategies.

• Exceptional founders have nothing to worry about in agrifoodtech funding, as money is available for disruptive products or technologies
• Vinod Khosla and Dave Friedberg highlight the presence of diamonds in the rough in the agrifoodtech sector
• The market has separated good startups from the not-so-good, with a decline in funding reported in 2023
• Advances in predictive modeling, automation, and AI are driving significant changes in agriculture and biotechnology
• Venture capital is a good fit for agrifoodtech due to the long-term nature of technology innovation, as seen in companies like Impossible Foods

Exceptional Founders in Agrifoodtech Funding Landscape

In the realm of agrifoodtech funding, the landscape may seem daunting with reports of declining investments and startups facing financial challenges. Read more