AI funding surged in Q3 2024, with $18.9 billion raised โ 28% of all venture capital funding, according to Crunchbase data. Highlighting the trend, OpenAI secured $6.6 billion, marking the largest venture deal ever. It was among six AI funding rounds exceeding $1 billion this year.
The full list is available at the source via the link below.
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Despite funding declines, startups in home equity financing, rental management, eco-friendly construction, and construction streamlining tools are attracting investments. These areas address affordability, rising rents, sustainability, and efficiency challenges in todayโs market.
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Angel investor and wellness entrepreneur Hannah Bronfman, known for backing over 70 companies, plans to launch a fund targeting overlooked founders. Speaking at AfroTech, she emphasized the importance of community, mentorship, and increasing Black investor representation. Bronfman envisions writing $1Mโ$3M checks and eventually creating a Black-owned conglomerate akin to LVMH.
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Wonder led the week's funding news with $250M to fuel its Grubhub acquisition, followed by biotech Metsera's $215M Series B. Other major rounds included Writer's $200M AI funding, Firefly Aerospace's $175M for lunar missions, and Chaos Industries' $145M to enhance defense tech. This diverse week highlights continued investor interest in food delivery, biotech, AI, and defense sectors.
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Corporate venture building is reshaping how CEOs tackle innovation. Companies are adopting venture-building strategies to create new revenue streams, future-proof their businesses, and respond to disruptive market shifts. McKinsey highlights how successful leaders embed this approach into their strategies to unlock growth and capitalize on emerging opportunities.
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Ritesh Agarwal, Oyoโs founder, plans to invest $65.1M into the company through Redsprig Innovation Partners, valuing it at $3.8B โ 38% higher than its June valuation of $2.3B but far below its 2019 peak of $10B. This comes as Oyo prepares for a third IPO attempt.
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Five new unicorns joined Crunchbaseโs Unicorn Board in October, spanning sectors like AI, energy, fintech, and robotics. Notable companies include AI coding platform Poolside and energy startup Pacific Fusion, with a collective valuation exceeding $7 billion. Meanwhile, five companies exited the board, contributing to the overall growth, driven by major funding rounds, including OpenAI's $6.6 billion raise.
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HealthKart, Indiaโs largest consumer nutrition platform, raised $153 million in a secondary investment, boosting its valuation to $500 million. Co-led by ChrysCapital and Motilal Oswal, this round saw exits from previous investors, including Peak XV. The startup, which reported $118.5 million in revenue for FY 2024, plans to expand as Indiaโs sports nutrition market grows.
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ServiceTitanโs gearing up for its IPO with impressive revenue growth but a notable loss due to heavy investment in sales and R&D. With a solid track record and backers like ICONIQ Growth, this could be a big one โ definitely worth keeping an eye on as they move forward!
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European venture funding reached $45B in 2024, a slight drop from last year but showing signs of stabilization. Despite growth in AI investments, overall funding remains low, with fewer exits and rising debt.
While Europeโs tech scene is expanding, itโs still trailing behind the U.S. in terms of funding and valuations.
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In 2023, U.S. VCs faced a liquidity crisis, investing $60 billion more than they returned, with only $26 billion in returns โ the lowest since 2011.
Despite record-high funding in recent years, the exit market has been quiet. However, IPOs like Klarna and ServiceTitan may bring relief in 2024, potentially reducing the deficit.
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From $145M for Chaos Industries to Andurilโs $1.5B mega-round, venture capital in defense tech has soared past $3B this year, breaking all records. With rising global tensions and a predicted defense budget increase under the new U.S. administration, VCs are diving deeper into tech like AI-driven weapons and autonomous systems. If we're being honest, this feels more like the latest gold rush.
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Ben Lingโs Bling Capital just raised $270M for its fourth fund, with half reserved for follow-on investments in standout startups. Known for backing unicorns like GitLab and Webflow, Bling leverages a powerful network of tech leaders from firms like OpenAI and Stripe to guide its portfolio.
This team invested in 170 startups, including Rippling and Vise, this seed-stage VC keeps proving its knack for spotting the next big thing.
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The genetic testing industry has seen both triumphs and setbacks. 23andMe, once a high-flyer, faces layoffs and declining market value. Yet others, like prenatal-focused Natera, thrive with multibillion-dollar valuations. Startups like BillionToOne and Genome Medical are raising hefty funds, while niches like pet DNA testing lose steam.
Despite past bubbles, the $10B genetic testing market is predicted to double by 2033, hinting at massive growth opportunities, but not without risks.
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JUST IN: Nvidia $NVDA reports $35.1 billion in revenue for Q3, 6% higher than expectations.
๐ก Powered by V3V Ventures
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Lighthouse just raised $370M in funding, skyrocketing its valuation past $1B. The London-based company uses AI to crunch massive amounts of travel data, giving hotels like Radisson and Holiday Inn the tools to outshine competitors. With plans to expand and maybe even acquire new businesses, Lighthouse is setting the stage for smarter, more personalized hospitality experiences.
๐ค What kind of data hotels collect about us? Share your thoughts in the comments
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Nvidia's revenue grew significantly in Q3, doubling compared to last year. However, its growth rate has slowed down, disappointing investors.
While the company experienced a 265% increase in revenue last year, this yearโs expected growth is only 70%.
Despite the slowdown, Nvidia remains a key player in AI and gaming technologies, generating income through AI model training, graphics processing, and hardware sales.
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Big moves in cloud security! Wiz, a major player in cybersecurity, just acquired dazz for $450M in cash and stock. This deal brings dazzโs expertise in remediation and posture management into wiz's all-in-one platform.
Wizโs CEO called dazz a โperfect fitโ and hinted at more acquisitions coming soon, fueled by $1B set aside for growth. With $500M in annual recurring revenue and nearly half the Fortune 100 as clients, Wiz is betting big on a secure future.
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While some investors juggle between blockchain and AI or just make memes about it, savvy founders have blended both worlds into a hot new category: decentralized AI on blockchain. It's not just hype โ investment in this innovative sector is booming.
Honestly, our team admire their brilliance...
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