Welcome to Startups Weekly — your weekly recap of the latest happenings in the world of startups. If you don’t want to miss out on any updates, sign up here to receive this newsletter in your inbox every Friday.
Hype can have both positive and negative effects on startups. This week, we’ve seen examples of startups on both sides of the spectrum, with those on the positive side securing significant funding rounds.
Most interesting startup stories from the week
German startup Proxima Fusion received recognition from a peer-reviewed journal, which highlighted its plans for a fusion power plant. This endorsement adds credibility to the startup’s concept and design for a reliable and continuous fusion power plant.
On the other hand, Y Combinator deleted its posts about the demo from Optifye.ai, a YC W25 company, after it went viral for the wrong reasons. The startup claims to be developing AI performance monitoring for factory workers, but critics have referred to it as “sweatshops-as-a-service.”
Inception, a Palo Alto-based startup, emerged from stealth mode with a diffusion-based large language model (DLM). While diffusion models are typically used for creating images, video, and audio, Inception aims to compete with large language models (LLMs).
Most interesting VC and funding news this week
Israeli startup Quantum Machines secured a record-breaking $170 million Series C funding round, making it one of the largest funding rounds for a quantum computing company to date. The round was led by PSG Equity, with participation from Intel Capital, Red Dot Capital Partners, and existing investors.
Shop Circle, a company that offers an app suite for e-commerce, raised $60 million in a Series B round. The funding also facilitated the acquisition of Aiden, an AI-powered “guided-selling” software maker.
Nomagic, a Polish startup specializing in robotic arms for logistics operations, raised $44 million in a Series B round led by the VC arm of the European Bank for Reconstruction and Development (EBRD). The funding will help the company expand its customer base in North America.
Taktile, a New York-based startup that helps fintechs build automated decision-making workflows, closed a $54 million Series B round led by Balderton Capital, with participation from Index Ventures, Tiger Global, YC, Prosus Ventures, and Visionaries Club.
Relay, a company bringing the “asset-free” last-mile parcel delivery model from Asia to Europe, raised $35 million in a Series A round led by London-based VC Plural. This approach not only reduces energy consumption but also relies on e-bikes.
Lovable, a fast-growing app-building AI platform from Sweden, secured $15 million in a pre-Series A round led by Creandum. The company has achieved $17 million in annual recurring revenue and has scaled to 30,000 paying customers with just $2 million spent.
Thoma Bravo, a private equity firm, closed a $1.9 billion European fund to strengthen its presence in the region and invest in midsized software companies across Europe.
Cambridge Innovation Capital (CIC), a British fund focused on the University of Cambridge ecosystem, launched a $126 million opportunity fund.
Last but not least
This week marked the third anniversary of Russia’s invasion of Ukraine. In response, Ukrainian dual-use and defense tech startups have emerged, innovating both on and off the battlefield. TechCrunch has compiled a list of several notable Ukrainian startups in this space.
Please note that last week’s newsletter contained an error: Augury first achieved unicorn status in 2021.
That’s all for this week’s recap. Stay tuned for more exciting news from the world of startups.
1 Comment
This is a fascinating exploration of the possibilities and challenges of fusion energy. I appreciate how the post addresses the concerns surrounding YC and seeks to find solutions. It’s great to see the potential for clean and sustainable energy sources being discussed in such an engaging manner.
This article provides a comprehensive overview of fusion energy, shedding light on its exciting prospects. Although there are concerns surrounding YC, it’s important to remember that every technological advancement faces hurdles in its early stages. I believe that, with concerted efforts, these concerns can be addressed and the potential of fusion energy can be fully realized.
I have always been curious about fusion energy and the potential it holds for solving our energy needs sustainably. It’s great to see an in-depth exploration of this topic and how it addresses the concerns surrounding YC. Can you further elaborate on how the technology can be optimized for efficient energy production in the future?
I completely agree with the notion that fusion energy can revolutionize our energy sector while minimizing environmental impact. This post does an excellent job of presenting the exciting prospects and tackling the concerns surrounding YC with practical solutions. We need more discussions like this to drive the adoption of sustainable energy sources.
While the potential of fusion energy is undeniably exciting, I think it’s essential to also consider the economic feasibility. Are there any cost-effective solutions being explored to make fusion energy more accessible to countries with limited budgets? It would be interesting to hear more about this aspect in future articles.
I appreciate the comprehensive analysis of fusion energy and how it addresses the concerns surrounding YC. It’s vital to debate and find answers to potential safety issues as we forge ahead. I believe that transparency and collaboration among scientists, policymakers, and the public will play a crucial role in ensuring the safe and successful implementation of fusion energy.