[ad_1]
Welcome to Startups Weekly – your weekly digest of everything you can’t miss in the startup world. Want it in your inbox every Friday? Register here.
This week brought us some exciting fundraising news from around the world, and even some exits. But if you’re looking for tech IPOs, you’ll have to look to India. Meanwhile, in the US, startups can help data centers reduce their environmental impact.
The most interesting startup stories of the week
As mentioned earlier, we have some exits to report, though another reminder is that not all startups will be able to succeed – even when backed by YC.
Open space: Table Space, an Indian startup that provides managed workspaces, plans to go public next year at a valuation of $2.5 billion, according to sources. As Manish Singh of TechCrunch points out, “The Indian market has filed more tech IPOs this year than the US, with valuation multiples nearing all-time highs in the South Asian market.”
Trail mix: Cybersecurity unicorn Cyera has made its first acquisition with Trail Security, a data loss prevention startup that it bought for $162 million in cash and stock. Cyera is also looking to raise more funding for itself – around $200 million at a valuation approaching $3 billion, sources confirmed.
Attractive: Analytics software company Amplitude has acquired Command AI, a San Francisco-based app user engagement startup, formerly known as CommandBar. Most of its 30-person team will join Amplitude, which goes public on the Nasdaq in 2021. The deal price is “north of $45 million,” a source told TechCrunch.
Fintech struggles: CapWay, a fintech startup that was part of Y Combinator’s summer 2020 cohort, is no longer in existence. Its goal was to bring financial services to “banking deserts.”
Most interesting fundraiser this week
Making data centers more efficient is a promise that continues to attract funding, but capital has also moved to other interesting startups in a variety of sectors and countries.
Reaction time: X-Energy, a nuclear technology startup, has raised a $500 million Series C-1 round led by Amazon’s Climate Pledge Fund. This comes as cloud giants explore cleaner ways to operate their data centers.
The power of light: Lightmatter raised a $400 million Series D at a $4.4 billion valuation to reduce the power demand of data centers and AI models thanks to photonic chips. Xscape Photonics, another startup in this space, has raised $57 million to grow its team and scale production.
Diamonds in the trash: Japanese startup Ookuma Diamond Device (ODD) has raised about $27 million to build a diamond semiconductor manufacturing facility that will produce chips used to remove radioactive debris.
Wider inclusion: Fable, a Toronto-based startup that helps companies build digital products that people with disabilities can more easily use, has raised $25 million in new funding. The capital will help fund new teams and products focused on accessibility tools for people with cognitive and hearing disabilities.
Space for Earth: OroraTech, a German startup that uses satellites to detect forest fires, has raised $25 million to grow its market and cover more ground.
The most interesting venture capital and funds news this week
Micro has gone big: 20VC, the investment firm named after Harry Stebbings’ podcast series, is moving further away from the days of micro-VC. Stebbings said the bank closed a new $400 million fund with the aim of “making Europe great again.”
Chasing money: A regulatory filing revealed that VC firm Buckley Ventures is seeking to raise a fourth fund worth $250 million. It was founded in 2019 by Josh Buckley, who was also CEO of Product Hunt between 2020 and 2023. Its previous fund closed at $337 million, according to PitchBook.
North winds: Node.vc, a venture capital firm focused on the Nordics and Baltics, closed its first fund worth €71 million. Launched in 2023, it is part of a new group of European venture companies that claim to act as “entrepreneurs supporting entrepreneurs”.
In memory
The startup world lost one of its own this week, as our former TechCrunch colleague Steve O’Hare passed away far too soon at the age of 49. The heartbreaking news also highlighted how grateful many of the founders were for his support over the years. Our thoughts go out to his family, friends and the team at communications consulting firm O’Hear & Co, who intend to carry on and build on his legacy.
[ad_2]