At Uber, Gurjit Pannu remembers moving billions in cash across bank accounts globally, realizing almost immediately the importance of effective cash flow management. Christian Sobkowski, meanwhile, recalls his days working in financial services, most notably at PayPal, where helped expand the company’s business across Europe. It’s no wonder then, that the two decided to come […]
India, despite being home to 20% of the world’s chip designers, lacks a significant presence in the global semiconductor market. However, in recent months, the Indian government has begun investing in an effort to establish the country in semiconductors, as companies worldwide have adopted a “China-plus-one” strategy, seeking alternatives to China. BigEndian Semiconductors aims to
OpenAI is in talks to raise a new round of funding at an eye-popping $100 billion-plus valuation, sources told the Wall Street Journal this week. It turns out investors have already proven they are willing to value the company that high to get on OpenAI’s coveted cap table. Multiple companies that track or facilitate secondaries
Investors are already valuing OpenAI at over $100B on the secondaries market Read More »
Welcome to Startups Weekly — your weekly recap of everything you can’t miss from the world of startups. Want it in your inbox every Friday? Sign up here. This week was a bit of a carryover from the one before as Bolt’s drama keeps unfolding — another story to be continued. But capital also flew
Fundraising is a lot easier when you have traction Read More »
A startup whose product competes with GitHub Copilot and other AI-powered coding assistants has achieved unicorn status. On Thursday, Codeium said it closed a $150 million Series C round led by General Catalyst that values the company at $1.25 billion post-money. The round, which also saw participation from existing investors Kleiner Perkins and Greenoaks Capital,
GitHub Copilot competitor Codeium raises $150M at a $1.25B valuation Read More »
Earlier this month, Google released a new feature with the Pixel 9 series phone to let users add the photographer in the group photo by swapping someone out and taking another photo. A new social network by a duo of Oxford PhDs is working on an app to let you add friends to a photo
Two Oxford PhDs are building an app to let you remix photos into memes Read More »
San Francisco-based data infrastructure startup Cribl has raised $319 million in a Series E funding tranche led by new investor GV (Alphabet’s corporate venture arm) with participation from GIC, CapitalG, IVP and CRV. Bringing Cribl’s total raised to $600 million, the cash injection values the company at $3.5 billion — up around 40% from Cribl’s
Data infrastructure startup Cribl raises $319M at a $3.5B valuation Read More »
The private equity realm has been pretty active so far in 2024, serving as a powerful “alternative” source of liquidity for technology startups and scale-ups in search of an exit. Just this month, TechCrunch reported that EQT had picked up a majority stake in cybersecurity firm Acronis at a valuation of around $4 billion, following
The 12 biggest take-private PE acquisitions so far this year in tech Read More »
This past week was a wild one in the world of fintech as Bolt surprised the industry with a leaked term sheet that revealed it is trying to raise $200 million in equity and an unusual, additional $250 million in “marketing credits.” As part of this deal, Bolt wanted a $14 billion valuation bolstered by
The fallout after Bolt’s aggressive fundraising attempt has been wild Read More »
VCs are increasingly buying shares of late-stage startups on the secondary market as they try to get pieces of the hottest ones — especially AI companies. But they are also increasingly doing so through financial instruments called special purpose vehicles (SVPs). Some of those SPVs are becoming such hot commodities that they are commanding premium
VCs are so eager for AI startups, they’re buying into each others’ SPVs at high prices Read More »
