US & International Startup & Tech News
Chip giant Nvidia acquires OctoAI, a Seattle startup that helps companies run AI models
Nvidia has acquired Seattle-based AI startup OctoAI, known for building tools to run generative AI models more efficiently, for over $250 million. OctoAI, which raised $132 million since its founding in 2019, informed customers that it will wind down commercial services by October 31. The acquisition reflects Nvidia’s strategy to expand its AI capabilities amid high demand for AI technology, while OctoAI CEO Luis Ceze and other key team members will join Nvidia.
Zap Energy investors in recent $130M round included Soros Fund and Laurene Powell Jobs’ Emerson Collective
Zap Energy, a fusion startup, has secured $130 million in funding, bringing its total to $327 million as it pursues a unique method of fusion power. Their "sheared flow stabilized Z-pinch" approach compresses plasma without expensive magnets or lasers, aiming to produce 50 megawatts of electricity per reactor. Despite navigating the challenging "commercial valley of death," Zap continues to attract investors, signaling confidence in its potential to achieve commercial fusion within a decade.
The Artemis Fund Raises $36 Million To Fund Diverse Tech Founders
The Artemis Fund, a women-led venture capital firm, successfully raised $36 million for its second fund, doubling the size of its first fund despite facing a challenging VC landscape. The firm focuses on seed-stage investments in female-founded tech startups, filling a critical funding gap for underserved entrepreneurs. With expanded institutional backing and operational support, Artemis continues to build an inclusive ecosystem for women investors and founders, promoting economic mobility and innovation.
EVA, an entertainment booking platform for events, raises $2M as it expands to more cities
EVA, a platform connecting event planners with local performers, has raised $2 million in funding, doubling its initial goal and valuing the company at $15 million. The Nashville-based startup plans to expand its reach, starting with New York City and Los Angeles, as in-person events experience a resurgence. EVA offers entertainers for various occasions and helps emerging artists gain exposure, with over 2,500 performers on the platform. The company facilitates event management, booking, and insurance, and has helped artists earn $6 million collectively, serving high-profile clients like Amazon and ESPN.
LATAM Startup & Tech News
AgriCapital secured debt financing from Grupo AlphaMundi
Colombian fintech AgriCapital secured an undisclosed debt investment from Grupo AlphaMundi’s SocialAlpha-Bastion fund (SAIF) to provide additional loans to local farmers. The funds will support farmers by offering flexible credit solutions tailored to their agricultural needs, promoting sector growth. Since its founding in 2016, AgriCapital has served over 6,874 clients with a loan portfolio of $3.6 million.
Imagine's path: from accelerator to US$4 million venture capital fund
Imagine Lab has evaluated 10,000 startups in Latin America over 10 years, supporting 700 and funding 120 with investments between $5,000 and $120,000. A third of these startups have survived; the top 15 are valued at over $300 million. Recently, Imagine raised $4 million for its first venture capital fund, focusing on startups in the future of work and finance, with a strong commitment to diversity. They aim to create a more inclusive industry, not just for founders but also for fund managers and investors and are working toward certification in diversity initiatives.
Conta Simples, the credit card and expense management platform for companies, launches BNPL solution in Brazil
Conta Simples, a corporate credit card and expense management platform, has launched a buy now, pay later (BNPL) solution aimed at B2B transactions. This product allows companies to make cash payments with terms of up to 30 days or in installments, offering greater flexibility in managing expenses. Currently in its initial phase with about 20 clients, the solution is expected to grow, while the potential BNPL market in Brazil is estimated at 205 billion reais annually.
ROCK secures $54M to expand its Customer-Centric Solutions
Brazilian customer engagement platform ROCK secured a $54M investment from the Hindiana Fund and acquired retail tech company Bnex to expand its portfolio. This acquisition strengthens ROCK’s ecosystem, which includes CRM, loyalty, and AI platforms serving major retailers. With over 130M users, ROCK facilitates 1.3B transactions annually, generating more than $50M in gross merchandise volume.
Brazil’s Scala secures $500 million in financing
Scala Data Centers, a Brazilian company owned by DigitalBridge, has secured $500 million in structured financing from Coatue Tactical Solutions and the Investment Management Corporation of Ontario (IMCO). This funding will accelerate the company’s expansion across Latin America to support cloud and AI growth, with a focus on building next-generation infrastructure. Founded in 2020, Scala has already invested $1.6 billion in hyperscale data centers and aims to expand its portfolio to 500MW within five years.
Noodle raises $900K to attract more users in LATAM
Noodle, the fintech for influencers, has received $900 to attract more users in LATAM. Founded in 2020, Noodle initially focused on providing loans to music professionals but later expanded to gaming and film. In 2023, their focus shifted to influencers and content creators, significantly increasing transactions. Noodle's success attracted an investment of 5 million Brazilian reais from QED, known for backing prominent Brazilian startups such as Nubank. The funds will be used for marketing and user acquisition, targeting influencers with AI-driven financial services, including loans and an ERP platform for managing payments.
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