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Welcome to Startups Weekly — your hebdomadary recap of everything you ca n’t leave out from the earth of startups . Want it in your inbox every Friday?Sign up here !
This calendar week belike was n’t the adept one to make any type of cock-a-hoop announcement . But when it amount to startups , there are quite a few contrarians , leaving us with some interesting stories to account on , despite the U.S. election news bike .
Most interesting startup stories from the week
Some election news — and non - news — on our fare this week , but also an M&A and a shutdown . In other words , business as common .
AI night : Perplexity was arguablythe other election night winner . While most AI research lab sat this election out , andGrok appear to clamber , Aravind Srinivas ’ AI startup provided reliable brainwave and single-valued function through its election entropy hub .
No big change in the weather : Trump ’s return to the U.S. presidencydoesn’t necessarily spell the close of the Inflation Reduction Act . Startups have broadly gain from this clime - focused legislation , either straight or indirectly through its result on investment and customer demand .
bow out : Agtech startup Bowery Farming , once a unicorn after raise more than $ 700 million , isceasing operations , according to PitchBook . The New York - based vertical farm companionship conduct multiple rounds of layoff in 2023 .
impertinent ink : Veteran Latvian on - need publish companies Printful and Printifyare merging . They will finally borrow a new company that has n’t been disclosed yet ; plenty terms were n’t disclosed , either .
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Most interesting fundraises this week
While lot count and dollar volume were lower than usual , some startups braved U.S. election interference and announced fresh financing rounds this week .
Keys in bridge player : MoradaUno , a Mexico City - free-base startup that simplifies the apartment lease process , raise a $ 5.6 million Series A roundco - led by Cometa and Flourish Ventures .
Zero to one : Dash0 , a Datadog challenger launch by former Instana CEO Mirko Novakovic and teammates , provoke a $ 9.5 million seminal fluid support roundled by Accel , with involvement from Dig Ventures , the investing firm of MulesSoft founder Ross Mason .
sweet air : Transaeraraised $ 8.2 million in seed fundingfor its dehumidification root using a dedicated outdoor air travel system ( DOAS ) . The capital letter will help oneself the caller make more DOAS original units and instal them on commercial-grade building .
leave the Scheol : Robotics startup Ulyssesemerged from stealth and harbinger a $ 2 million pre - seed funding roundled by Lowercarbon Capital . The startup is using autonomous underwater robots to imbed seagrass on the ocean base .
Most interesting VC and fund news this week
crossover voter : Coatue Management israising $ 1 billion for next investing in AI - focused companies , according to Bloomberg . The hedging fund endue in more than 170 VC - backed companies in 2021 before slowing down its pace , but it has n’t stopped backing inauguration .
Fabercloses : Lisbon - based VC business firm Fabermade a € 31 million first close of its third fund , for which it aims to farm € 60 million ( about $ 64.2 million ) to invest in pre - come and seed - stage startups in Portugal , Spain , and the Netherlands , with a focus on recondite tech , AI , robotics , and biotech .
Last but not least
We already cognise that fundraising in the post - ZIRP ( zero interestingness charge per unit policy ) era was heavy . Now we are also finding out that there ’s no magic gross numeral to unlock a Series A round of drinks . As Greylock pardner Corinne Riley said onstage at Disrupt , there ’s no determined milestone that VCs will request : “ What we ’re looking for is actually the timber of the ARR [ yearly recurring revenue ] , and not the measure of ARR . ”
