US & International Startup & Tech News
Amazon doubles total Anthropic investment to $8B, deepens AI partnership with Claude maker
Amazon is investing an additional $4 billion in Anthropic, the AI startup behind the Claude chatbot, bringing its total investment to $8 billion while maintaining a minority stake and no board representation. Under the expanded partnership, Anthropic will train future AI models using Amazon's AWS Trainium and Inferentia chips, marking a significant collaboration to optimize these technologies for advanced AI development. This deal highlights the growing competition among cloud providers like AWS, Microsoft Azure, and Google Cloud in supporting AI startups with substantial computing resources and strategic partnerships.
Sequoia marks up its 2020 fund by 25%
Sequoia Capital marked up the value of its 2020 U.S. Venture XVII fund by nearly 25% in June, despite the fund having no exits. This strong performance contrasts with expectations for 2020 vintage funds, likely driven by high AI valuations and investments in companies like OpenAI and Glean. The $800 million fund, which closed in 2022, highlights Sequoia's resilience amid challenging market conditions.
Physical AI startup BrightAI bootstraps to $80M in revenue
Alex Hawkinson, former CEO of SmartThings, co-founded BrightAI in 2019 to address critical infrastructure challenges using IoT technology. BrightAI’s platform employs sensors and AI to monitor physical assets, enabling real-time insights and proactive issue management across sectors like pest control, HVAC, and waste management. Emerging from stealth with $80 million in revenue and a new $15 million seed round, BrightAI aims to scale its tech capabilities, offering targeted solutions that boost efficiency, reduce waste, and transform essential services.
How Zip’s $190 Million Series D Is Revolutionising Business Spend
Zip, a procurement tech company founded in 2020, has secured a $190 million Series D funding round led by BOND, marking the largest investment in the sector in over 20 years. The company simplifies complex procurement processes through AI-driven solutions and "intake and procurement orchestration," helping enterprises like OpenAI and Snowflake save billions. With plans to expand globally and establish an AI lab, Zip aims to transform procurement into a strategic, streamlined function while maintaining its rapid-growth culture.
LATAM Startup & Tech News
Ex-Duolingo execs raise $13M seed round led by Khosla Ventures
Edtech startup Outsmart Education raised $13M in a funding round led by Khosla Ventures, with contributions from major investors like Lightspeed Venture Partners and Latitud Ventures. Founded by former Duolingo executives, Outsmart aims to address systemic issues in higher education, including rising tuition, student debt, and low graduation rates, by focusing on affordable degrees and improving student retention. The funds will support the development of scalable solutions to transform the traditional higher education model.
Solvento raises $12.5 million to expand cross-border trucking
Mexico City-based fintech Solvento has raised $12.5 million in a Series A funding round led by Cometa, with participation from Quona Capital and other investors. The company, which automates freight payments and finances invoices for truckers and logistics providers, plans to use the funds to scale operations across Mexico and expand services for U.S. cross-border trade. Founded in 2021, Solvento has financed over 100,000 freight invoices and aims to grow its carrier base to 5,000 by 2025, addressing liquidity challenges in Mexico’s trucking sector.
Colombia's Addi lands $100 million credit line to expand buy now, pay later service
Colombian fintech Addi secured a $100 million credit facility from Victory Park Capital to expand its buy-now, pay-later service in Latin America, where demand is growing due to limited banking access among consumers. The company, now profitable and approved to become a bank, has served nearly 2 million customers and partnered with over 18,000 merchants since its 2018 founding. CEO Santiago Suarez highlighted the deal's potential to enhance customer experiences and drive growth.
Blip raises $60 million in round led by SoftBank and with participation from Microsoft
The Brazilian conversational AI platform Blip raised $60 million in a Series C funding round led by SoftBank and Microsoft to fuel its international expansion and develop new AI-driven products. Blip connects brands with consumers via social apps like WhatsApp, Instagram, and Messenger, serving over 4,000 clients, including Dell and GM. With offices in Mexico and Spain and operations in 32 countries, the company plans to strengthen its presence in North America, Latin America, and Europe, where its international operations have seen 100% year-on-year growth.
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