Weekly Tech Pulse
From apan's Mitsubishi launching $700 million VC arm, to Amazon to invest $10B in North Carolina to fuel AI.
US & International Startup & Tech News
Sister-led social commerce startup Nectar lands $10.6M
Seattle-based Nectar Social, founded by sisters Misbah and Farah Uraizee, has secured $10.6 million in funding to enhance its AI-driven platform that helps brands engage with Gen Z and Gen Alpha on social media. The startup's tools analyze online interactions to provide insights and track conversions from social engagement to sales. Investors include True Ventures and Google Ventures.
Source: Geekwire
Cursor's Anysphere nabs $9.9B valuation, soars past $500M ARR
Anysphere, the company behind AI coding assistant Cursor, has raised $900 million, elevating its valuation to $9.9 billion. With annual recurring revenue surpassing $500 million, the startup is expanding its enterprise offerings. The funding round was led by Thrive Capital, with participation from Andreessen Horowitz and Accel.
Source: TechCrunch
Japan's Mitsubishi launches $700 million VC arm
Mitsubishi Corporation has announced the creation of a $700 million venture capital fund to invest in startups focusing on decarbonization, digital transformation, and healthcare. The fund aims to support innovative companies that align with Mitsubishi's strategic interests in sustainable development and technological advancement.
Source: Forbes
Seattle startup backed by former Google CEO lands $16M to automate repetitive tasks on a computer
Vercept, a Seattle-based startup founded by former Allen Institute for AI researchers, has raised $16 million to develop Vy, an AI-powered tool that automates repetitive computer tasks. The funding round included investments from former Google CEO Eric Schmidt and other tech leaders. Vy learns user workflows and replicates them through natural language commands.
Source: Geekwire
Anduril raises $2.5B at $30.5B valuation led by Founders Fund
Defense technology firm Anduril Industries has secured $2.5 billion in funding, doubling its valuation to $30.5 billion. The Series G round was led by Founders Fund, with participation from Andreessen Horowitz and others. Anduril specializes in autonomous defense systems and has recently partnered with Palantir Technologies to pursue government contracts.
Source: TechCrunch
Amazon to invest $10B in North Carolina to fuel AI and cloud data center infrastructure and jobs
Amazon has announced a $10 billion investment to build AI and cloud data centers in Richmond County, North Carolina. The project is expected to create at least 500 high-skilled jobs and includes plans for workforce training programs. This initiative is part of Amazon's broader strategy to expand its AI capabilities and infrastructure.
Source: Geekwire
LATAM Startup & Tech News
Kaszek and Ignia Lead Funding Round in AI-Based Insurtech Crabi
Mexican insurtech Crabi has raised funding in a round led by Kaszek and Ignia to enhance its AI-driven auto insurance platform.
The investment aims to support Crabi's growth and technological development in the digital insurance market.
Source: Bloomberg
Goldman Sachs Extends Investment in Colombian Fintech Simetrik to $85 Million
Colombian fintech Simetrik has received an extended investment from Goldman Sachs, bringing the total to $85 million.
The funds will be used to expand Simetrik's financial automation services across Latin America.
Source: Forbes
Argentine AI Startup Raises $2M in Round Led by Mexican Fund
An Argentine AI startup, Melian, has raised $2 million in a funding round led by a Mexican investment fund.
The capital will be used to advance the company's AI solutions and expand its presence in the Latin American market.
Source: Bloomberg
President Boric Announces Two AI Supercomputing Centers in Chile
Chilean President Gabriel Boric has announced the establishment of two AI supercomputing centers as part of a $14 billion program by Corfo.
The initiative seeks to boost Chile's technological infrastructure and position the country as a leader in AI research in Latin America.
Source: Entreprenerd
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