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The week earlier than Thanksgiving is often busy with bulletins of all kinds, however this week has been notably attention-grabbing. Cash was flowing to huge issues, like protection, cybersecurity, and well being.
Most attention-grabbing startup tales from the week
Let’s begin with the unhealthy information and (quickly?) sprint hopes. However there’s excellent news too.
Low battery: Struggling Swedish unicorn Northvolt filed for chapter within the U.S., delivering a setback to Europe’s hopes of staking a declare within the battery-manufacturing house.
Above the road: German fintech unicorn N26 had its first worthwhile quarter, with a internet working earnings of €2.8 million ($2.9 million) in the course of the third quarter of 2024.
Wiz buys Dazz: Cybersecurity heavyweight Wiz acquired Dazz, a specialist in safety remediation and threat administration. In response to sources, the cash-and-share deal is valued at $450 million, barely greater than Dazz’s current $400 million post-money valuation.
Information pipelines: Alongside its Q3 earnings, cloud firm Snowflake introduced it agreed to purchase knowledge pipeline administration firm Datavolo for an undisclosed sum.
Most attention-grabbing fundraises this week
Some mega-rounds have been introduced this week, and smaller however nonetheless hefty quantities additionally went to startups tackling huge issues.
Fast commerce, fast funding: Indian quick-commerce startup Zepto raised $350 million in new funding, its third spherical of financing in solely six months forward of a deliberate IPO subsequent yr.
Gold rings: Finnish good ring maker Oura raised a $75 million funding from glucose system maker Dexcom in a Collection D spherical of funding that introduced its valuation to greater than $5 billion.
New unicorn: Lighthouse, a knowledge analytics platform for the hospitality business, raised a Collection C spherical of $370 million led by KKR at a $1 billion valuation.
Egg-like fusion: U.Ok.-based nuclear startup Tokamak Power raised $125 million to proceed growth of its egg-like reactor design. The U.Ok. Atomic Power Authority spinout has been engaged on fusion since 2009.
Crossing the Atlantic: Portuguese dual-use drone startup Tekever raised €70 million ($74 million) in a Collection B spherical led by Scottish funding firm Baillie Gifford & Co. and the NATO Innovation Fund. The funding will assist it develop into new markets, particularly the U.S.
Lightening up: Lightning AI, a startup that adapts PyTorch Lightning to enterprise wants and helps their AI plans, just lately secured $50 million from Cisco Investments, J.P. Morgan, Nvidia, and K5 World to develop the Lightning platform to new markets and develop its buyer base.
Good trigger: OneCell Diagnostics, a startup that works on limiting most cancers recurrence with AI, raised $16 million in an oversubscribed Collection A spherical that may assist it develop into the U.S. and scale its enterprise in India.
Most attention-grabbing VC and fund information this week
Bullish on Blue Bear: Blue Bear closed a $160 million third fund to again AI founders in local weather, vitality, and business as a part of its software-centric thesis.
Bling, bling: Bling Capital, the seed VC agency based by former Khosla Ventures normal accomplice Ben Ling, secured $270 million for its fourth fund, half of which is earmarked for follow-on investments.
Final however not least
Protection tech startups raised virtually $3 billion up to now in 2024, in keeping with Crunchbase. That’s already greater than 2022’s earlier $2.6 billion document and over solely 85 offers in comparison with 113 that yr.
