Parsers VC - Weekly Funding / Startup / VC news of October 15, 2024

Venture Capital News. Funding rounds, statistics Week of October 8 - October 14: United States (40 - $4.47B), United Kingdom (4 - $296M), India (5 - $694M)

October 15, 2024

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The UK government is stepping into the future of food with a £1.6 million investment aimed at revolutionizing the cultivated meat industry. This move is not just a financial commitment; it’s a declaration of intent. The establishment of a regulatory ‘sandbox’ signals a new era for food innovation, where safety meets creativity.
In the wake of Brexit, the UK is eager to carve out its niche in the global food landscape. The newly created sandbox by the Food Standards Agency (FSA) is designed to accelerate the approval process for cultivated meat products. This initiative is crucial. It aims to streamline regulations that have historically stifled innovation. The sandbox will provide a controlled environment for startups and researchers to test their products, ensuring safety while fostering creativity.

Oil prices are like a pendulum, swinging wildly with the winds of geopolitical conflict. Recently, they surged, marking the largest weekly gains in over a year. The catalyst? Escalating tensions in the Middle East. The threat of a regional war looms large, sending ripples through global markets.
On October 8, 2024, Brent crude futures climbed by 43 cents, settling at $78.05 per barrel. Meanwhile, US West Texas Intermediate (WTI) crude rose by 67 cents, closing at $74.38 per barrel. These figures tell a story of uncertainty and speculation, where every tick in price reflects the pulse of global politics.
The backdrop of this surge is a volatile situation involving Israel and Iran. Israel's vow to retaliate against Iran after a missile attack has sent shockwaves through the oil market. This retaliation follows the assassination of a Hezbollah leader, a move that has escalated tensions further. Analysts are sounding alarms, warning of potential consequences if the conflict widens.

Artificial Intelligence (AI) is a double-edged sword. On one side, it fuels innovation, sparking creativity and new ideas. On the other, it raises significant security concerns, especially in software development. Recent studies reveal a complex landscape where AI's potential is both celebrated and scrutinized.
A study by Wazoku and King’s Business School shows that 85% of global innovators are using Generative AI (GenAI) for research and learning. This statistic is not just a number; it reflects a seismic shift in how ideas are generated. Almost half of the surveyed innovators reported using GenAI to craft innovative solutions over the past year. The Wazoku Crowd, a diverse network of 700,000 problem solvers, includes scientists, engineers, and business leaders. Their collective intelligence is harnessed to tackle challenges posed by major enterprises like NASA and AstraZeneca.

4. Crypto Showdown: Crypto.com Takes on the SEC (Cited in 13 tech media)

In the world of cryptocurrency, battles are fought not just in the market but in the courtroom. The latest skirmish involves Crypto.com, a major player in the crypto exchange arena, and the U.S. Securities and Exchange Commission (SEC). This legal clash is a significant moment for the crypto industry, which has been grappling with regulatory uncertainty.
Crypto.com has filed a lawsuit against the SEC and its chair, Gary Gensler, after receiving a Wells Notice. This notice is a warning that the SEC is considering enforcement actions against the company. It’s like a storm cloud on the horizon, signaling trouble ahead. The lawsuit aims to challenge what Crypto.com describes as the SEC's "unauthorized overreach" and "unlawful rulemaking." The stakes are high, as the outcome could shape the future of cryptocurrency regulation in the United States.

The electric vehicle (EV) landscape is evolving rapidly. Two giants, Tesla and LG Energy Solution, are at the forefront of this transformation. Their recent moves highlight the momentum and challenges in the EV market.
Tesla recently unveiled impressive statistics about its Supercharger network. In just one quarter, the company delivered a staggering 1.4 terawatt-hours (TWh) of energy. This is enough to power millions of homes for a month. The third quarter saw the opening of 2,800 new Supercharger stations, marking a 23% increase from the previous year. Tesla is expanding its network like a tree spreading its branches. Yet, there’s a twist. The pace of new station openings has slowed. Compared to the third quarter of 2023, the rollout dropped by 7.4%.

Purplle is on the rise. The beauty and personal care platform recently closed its Series F funding round, securing a hefty Rs 1,500 crore, or about $180 million. This investment was led by a subsidiary of the Abu Dhabi Investment Authority (ADIA), with existing investors like Premji Invest and Blume Ventures stepping up their stakes. New players, such as Sharrp Ventures, have also joined the fray. This infusion of capital marks a significant milestone for Purplle, propelling it further into the competitive beauty marketplace.
Founded in 2012, Purplle has carved a niche in the beauty industry, competing with giants like Nykaa and Reliance-backed Tira. The company operates through a dual model: a marketplace for various brands and its own private labels, including Good Vibes and Faces Canada. This strategy has allowed Purplle to tap into the growing demand for beauty products across India, especially in Tier II and III cities.

In the fast-paced world of healthcare, Suki is making waves. The company recently secured $70 million in funding, pushing its total to $165 million. This investment, led by Hedosophia and backed by Venrock and other existing investors, aims to enhance Suki's AI-driven solutions. The goal? To ease the administrative burden on clinicians and allow them to focus on what truly matters: patient care.
Suki is not just another tech company. It’s a voice AI innovator, transforming how healthcare professionals interact with technology. Imagine a world where clinicians can dictate notes, retrieve patient information, and navigate electronic health records (EHRs) without lifting a finger. That’s the promise of Suki Assistant. This AI-powered voice assistant is designed to streamline clinical documentation, making the process faster and more efficient. Reports suggest that Suki can help health systems complete notes up to 72% faster.

In the bustling world of venture capital, Asia is a vibrant landscape. It's a place where ideas bloom and investments flow like rivers. Recent reports reveal a surge in funding across the region, showcasing the relentless drive for innovation. From Hong Kong to Singapore, the momentum is palpable.
MindWorks Capital, a prominent player in this arena, has just raised USD 220 million for its latest fund. This isn't just a number; it's a beacon of hope for startups across the Greater Bay Area and beyond. With this new fund, MindWorks now manages a staggering USD 1.4 billion. The firm’s strategy is clear: invest in the future. The investors backing this fund include sovereign wealth funds, family offices, and entrepreneurs eager to tap into Asia's burgeoning tech scene.

Last week's funding rounds

115 funding rounds, +50% from last week.

Number of funding rounds in the last quarter - October 14, 2024 by Parsers VC

Total raised $10.9 billion, -44% since last week

Total raised $, bln - October 14, 2024 by Parsers VC

Funding rounds in United States

  • Abridge Raises $250M 

  • Access MI300X GPU Today Raises $43M 

  • Advanced Energy Materials, LLC Raises $1.35M Seed Round 

  • AirLoom Raises $13.75M 

  • AirOps Raises $15.5M Series A Round 

  • Airspan Networks Raises $85.4M 

  • Aperture Data Raises $8.5M 

  • Aware Health Raises $3M 

  • Berkshire Hathaway Raises $1.9B 

  • CoreWeave Raises $650M 

  • Covu.com Raises $12.5M 

  • Cytovale Raises $100M 

  • DC BLOX Raises $265M 

  • EvenUp Raises $135M at $1B Valuation 

  • Facet Raises $35M 

  • Farther Finance Raises $72M 

  • Glooko Raises $100M 

  • HUMAN Raises $50M 

  • Lightdash Raises $11M Series A Round 

  • Maven Clinic Raises $125M 

  • Mayo Clinic Raises $25M 

  • Nonprofit Finance Fund Raises $2.3M from The CDFI Fund 

  • Northern Illinois University Raises $40M 

  • Numeric Raises $28M 

  • Relyance AI Raises $32M Series B Round 

  • Rezilient Health Raises $10M Series A Round 

  • Serpin Pharma Raises $2M Grant Round 

  • ShiraTronics, Inc Raises $66M Series B Round 

  • Snorkel AI Raises $8.5M Seed Round 

  • SPRY Raises $15M from Together, F-Prime Capital Partners, Eight Roads 

  • Suki Raises $70M 

  • Teneo Raises $100.75M 

  • The Jackfruit Company Raises $5M Series B Round 

  • THG Raises $124.3M 

  • Tildei Marketing Raises $6M Seed Round 

  • U.S. Department of Justice Raises $6.5M 

  • Vieu Raises $11M Seed Round 

  • Vizit Raises $25M Series B Round 

  • Windmill Air Raises $5M Series A Round 

  • Zeal Raises $15M Series B Round 

Funding rounds in United Kingdom

  • Blecon Raises $4.6M 

  • clock.bio Raises $5.3M 

  • Perlego Raises $20M 

  • Zepz Raises $267M from TCV, Accel Partners 

Funding rounds in India

  • BIOPRIME AGRISOLUTIONS PVT LTD Raises $6M Series A Round from Inflexor Ventures 

  • Essar Raises $650M 

  • Haber Raises $38M 

  • Samunnati Raises $133.7K 

  • Swiggy Raises $208.2K Pre-IPO Round 

Follow new funding rounds every day on Twitter and Telegram

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