Startups Weekly Summary
Startups Weekly provides a comprehensive recap of significant developments in the startup world. The latest edition notes a decrease in M&A and IPO activities, but highlights notable funding events for various startups.
Key Startup Stories of the Week
This week saw several legal developments involving startups. For instance, startups like “Truely” launched products to tackle the use of the AI cheating app Cluely, which plans to enhance its hardware to remain undetectable. Meanwhile, fashion startup CaaStle is embroiled in new lawsuits and allegations following financial misconduct accusations against its founder. Figure AI, a robotics company, issued cease-and-desist notices to brokers marketing its stock on secondary marketplaces.
Imaguru, Belarus’ first startup hub, now operates from Warsaw and Madrid after its founders went into exile, maintaining their focus with European support. Deel is involved in a lawsuit with Rippling concerning alleged spying. Additionally, a London-based investor is seeking to halt the sale of Canoo’s assets, describing it as flawed.
Noteworthy VC and Funding News
Numerous startups announced funding rounds this week. Cast AI secured $108 million in Series C funding aimed at R&D and expansion. Lightrun acquired $70 million in Series B funding to enhance its AI-enabled observability platform. Supio, focused on AI-driven legal solutions, raised $60 million, while IXI obtained $36.5 million for developing autofocus prescription glasses.
Nuvo, facilitating B2B trades, raised $34 million in Series A funding. Similarly, OmniRetail secured $20 million to boost B2B e-commerce in West Africa. Craif, focusing on early cancer detection, received $22 million in Series C funding. Near Space Labs and Glacier raised $20 million and $16 million respectively for their innovative platforms.
Kintsugi, an AI sales tax startup, increased its valuation significantly, raising $15 million from Vertex. Hoofprint Biome also raised $15 million to reduce cattle methane emissions. Meanwhile, Volution launched a new $100 million fund focused on fintech, AI, and SaaS startups.
European platform EWOR introduced a “founder fellowship” with a $68 million commitment, aiming to rival similar initiatives like Harry Stebbings’ Project Europe.
Additional Highlights
Ali Partovi, an accomplished entrepreneur and early tech investor, now leads the venture firm Neo, which is reportedly experiencing strong performance.
