Parsers VC - Weekly Funding / Startup / VC news of August 28, 2024

Venture Capital News. Funding rounds, statistics Week of August 20 - August 26: United States (33 - $1.88B), India (6 - $194M), United Kingdom (3 - $38M)

August 28, 2024

Ardagh Group is making waves in the packaging industry. The recent appointment of Stefan Schellinger as Chief Financial Officer (CFO) signals a shift in strategy. This move comes at a time when the company is also expanding its product offerings. With a new focus on premium stock spirits bottles, Ardagh is positioning itself as a leader in sustainable packaging solutions.
Stefan Schellinger steps into his role on September 1, 2024. He brings over 25 years of experience to the table. His background is rich and varied, spanning several industries. Before joining Ardagh, he held key financial positions at ContourGlobal and Essentra. His expertise lies in creating value through growth. This is crucial for Ardagh as it navigates a competitive landscape.

In the ever-evolving landscape of technology, Yandex is making waves. Two recent innovations showcase the company's commitment to improving healthcare and media services. One focuses on early diagnosis of a rare fetal condition, while the other enhances video management for businesses. Both projects highlight the power of artificial intelligence and cloud technology.
Yandex has developed a neural network aimed at helping doctors detect spina bifida during early pregnancy scans. This condition, a severe birth defect affecting the central nervous system, occurs in about one in a thousand newborns. Early detection is crucial. It can significantly impact the quality of life for affected children. Yet, diagnosing spina bifida is no easy task. It often requires highly skilled specialists with years of experience. Many cases are only identified in the second trimester, which can be too late for effective intervention.

In the bustling world of technology, change is the only constant. The cloud is the new frontier, and Wasabi is leading the charge in the Asia-Pacific (APAC) region. Their approach to surveillance cloud storage is a breath of fresh air in an industry bogged down by complexity and hidden costs. With a focus on simplicity, predictability, and affordability, Wasabi is transforming how businesses manage their surveillance data.
Founded in 2017 and headquartered in Boston, Wasabi has quickly carved out a niche in the cloud storage market. Their unique offering? A single tier of cloud storage that eliminates the confusion of multiple pricing models. This straightforward approach resonates with businesses tired of navigating the labyrinthine pricing structures of giants like AWS and Azure. Wasabi’s pricing model is as clear as a sunny day—capacity-based and free of hidden fees. For surveillance customers, this is akin to buying a hard drive, but in the cloud.

In the fast-paced world of technology, artificial intelligence (AI) stands as both a beacon of hope and a shadow of fear. A recent study reveals that over half of Fortune 500 companies view AI as a potential threat to their business. This marks a significant shift from just a year ago when only 9% expressed similar concerns. The rapid evolution of AI, particularly since the launch of ChatGPT in late 2022, has left many companies scrambling to adapt.
The landscape is changing. Major tech firms have poured billions into AI development, spawning a wave of startups eager to capitalize on this innovation. Yet, amidst this frenzy, a palpable anxiety lingers. Companies fear falling behind competitors who harness AI more effectively. The stakes are high, and the implications are profound.

In a world increasingly aware of health and wellness, two companies are stepping into the spotlight. Coway and De Novo Foodlabs are not just players; they are game-changers. Each company tackles a different aspect of well-being—air quality and nutrition—using cutting-edge technology and innovative thinking.
Coway, a South Korean wellness tech leader, has recently launched its first-ever customized filter line for its popular Airmega air purifiers. This move is not just a product launch; it’s a response to a growing need. With over 1.5 million units sold, the Airmega Mighty AP-1512HH and Airmega 200M models are already household names. Now, they come equipped with filters designed for specific challenges: intense smoke, pet odors, and allergens.

In the world of enterprise software, Rimini Street stands as a beacon of innovation and resilience. Founded in 2005, the company has transformed from a small startup into a global powerhouse. Its journey is a testament to the power of adaptability and vision. Seth Ravin, the CEO, has led this charge, guiding the company through the ever-evolving landscape of IT challenges.
Rimini Street began with a simple premise: provide a cost-effective alternative to the expensive maintenance programs offered by major software vendors. This idea was like a breath of fresh air in a stale market. Companies were tired of being squeezed by high costs. Rimini Street offered a lifeline, promising better service at half the price. This entrepreneurial spirit has fueled the company’s growth for nearly two decades.

In a world where technology often outpaces ethics, Procreate has taken a bold stance. The popular illustration app, known for its user-friendly interface and powerful tools, has declared it will not integrate generative AI into its platform. This decision comes amid a growing backlash from artists concerned about the implications of AI in creative fields. Procreate's CEO, James Cuda, has made it clear: generative AI is not welcome in their ecosystem.
Procreate’s announcement resonates like a rallying cry. The art community has been embroiled in a heated debate over the role of AI in creativity. Some see it as a tool that enhances artistic expression, while others view it as a threat that dilutes the essence of human creativity. Procreate has chosen its side, and it’s a firm rejection of AI-generated art.

In a world where technology and media intertwine, OpenAI has made a bold move. The artificial intelligence giant has struck a multi-year partnership with Condé Nast, the powerhouse behind iconic brands like Vogue and The New Yorker. This collaboration is more than just a handshake; it’s a significant step into the future of content creation and distribution.
The deal, announced on August 20, 2024, opens the floodgates for Condé Nast’s rich tapestry of content to flow into OpenAI’s products, including ChatGPT and the newly launched SearchGPT. This partnership aims to enhance user experience by integrating high-quality journalism and storytelling into AI platforms. It’s a marriage of creativity and technology, where the pen meets the algorithm.

Last week's funding rounds

98 funding rounds, +50% from last week.

Number of funding rounds in the last quarter - August 26, 2024 by Parsers VC

Total raised $3.09 billion, -20% since last week

Total raised $, bln - August 26, 2024 by Parsers VC

Funding rounds in United States

  • ModelOp Raises $10M Series B Round 

  • Amount Raises $675M 

  • Trunk Tools, Inc. Raises $20M Series A Round 

  • Eppo Raises $28M Series B Round 

  • PreciseDx Raises $20.7M Series B Round 

  • Opkey Raises $47M Series B Round 

  • Efficient Capital Labs Raises $11M Series A Round 

  • Pathalys Pharma Raises $105M Series B Round 

  • Depot Raises $4.1M 

  • Axio Raises $20M from Amazon 

  • Solace Raises $14M 

  • TickPick Raises $250M 

  • Root Global Raises $8.8M 

  • Human Longevity, Inc. Raises $39.8M Series B Round 

  • Cribl Raises $319M Series E Round at $3.5B Valuation 

  • The Rounds Raises $24M Series B Round 

  • enteligent Raises $6M 

  • Kubiya.io Inc Raises $12M Seed Round 

  • ZBiotics Raises $12M Series A Round 

  • Jobilla US Raises $6.71M 

  • pgEdge Raises $10M 

  • Planera, Inc Raises $13.5M Series A Round 

  • Butlr Raises $38M Series B Round 

  • Space and Time Raises $20M Series A Round 

  • HomeLight Raises $20M Series D Round 

  • Revenew Raises $4.6M Seed Round 

  • Adelaide Metrics Raises $1.4M Seed Round 

  • PhotonPharma Raises $2.5M Seed Round 

  • BeMe Health Raises $12.5M 

  • National Park Foundation Raises $100M 

  • PrivacyHawk Raises $3M 

  • Home Run Dugout Raises $22.5M Series A Round 

  • Fleet Labs Raises $2.5M Seed Round 

Funding rounds in United Kingdom

  • BeyondMath Raises $8.5M 

  • VividQ Raises $7.5M Series A Round 

  • Sunswap Raises $22.82M 

Funding rounds in India

  • Livpure Raises $28M from Ncubate Capital Partners, M&G Investments 

  • Snapdeal Raises $24M 

  • Even Raises $20M from Khosla Ventures 

  • FlexiLoans Raises $9M 

  • BlueStone Raises $107.28M Pre-IPO Round 

  • Convin Raises $6.5M Series A Round from India Quotient 

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