Weekly Tech Pulse
Seattle-area startup Modern Hydrogen raises $25M to fuel clean energy efforts, G2 Ventures Partners is raising $750 million for a third fund.
US & International Startup & Tech News
Seattle-area startup Modern Hydrogen raises $25M to fuel clean energy efforts
Modern Hydrogen, a clean tech startup based in Woodinville, Washington, raised $25 million in new funding to advance its methane pyrolysis technology. The company produces clean hydrogen fuel and solid carbon, with applications in energy, industry, and infrastructure, such as asphalt production. Co-founded by CEO Tony Pan and CTO Max Mankin, Modern Hydrogen has raised over $100 million since 2015 and continues to expand its partnerships and market reach.
G2 Ventures Partners is raising $750 million for a third fund
G2 Venture Partners, a firm focused on climate and sustainability investments, is raising a $750 million third fund, signaling confidence in the sector's growth potential. The firm has backed prominent startups like Arcadia, 1Komma5, and Crusoe, attracting high-profile limited partners such as Daimler and Shell Ventures. This new fund reflects optimism for scaling solutions that decouple consumption from economic growth.
Microsoft will take $800 million charge on Cruise investment as GM exits robotaxi business
Microsoft is taking an $800 million charge on its investment in Cruise after General Motors decided to cease funding the robotaxi initiative to focus on broader autonomous driving technologies. This unexpected move will reduce Microsoft’s earnings per share by 9 cents for the current quarter. GM, which owns 90% of Cruise, is shifting its strategy due to the competitive and resource-intensive nature of scaling the robotaxi business, as rivals like Waymo, Tesla, and Amazon’s Zoox continue to expand.
Flocean’s Deepwater Desalination Reforms A Vital But Costly Industry
Water scarcity is a growing global crisis, with freshwater demand exceeding supply and conventional desalination methods harming the environment through high carbon emissions and ecological damage. Norwegian company Flocean offers an innovative solution by using deepwater desalination technology, leveraging natural underwater pressure and renewable energy to produce freshwater with lower energy costs and minimal ecological impact. With water demand expected to surge 25% by 2050, Flocean is poised to lead the market with its sustainable and cost-effective approach.
LATAM Startup & Tech News
Insurance startup Sofia raises $13.5 million and will seek to expand and include AI in healthcare
Sofía, a Mexican health insurance startup founded in 2018, has raised $13.5 million in its latest funding round led by Kfund, bringing its total funding to $37.5 million. The company aims to expand access to health insurance, particularly for small and medium-sized businesses, while leveraging telemedicine and advanced technology to provide affordable, integrated healthcare services. With plans to grow its network and incorporate AI into medical care, Sofía seeks to make healthcare more intuitive and accessible across Mexico.
Makasí raises $19M through the issuance of corporate bonds
Brazilian proptech Makasí raised $19M through Certificados de Recebíveis Imobiliários, a corporate bond structured by RBR Asset, to enhance credit access for small and mid-sized real estate developers. The platform streamlines financing by automating risk analysis, resource management, and construction oversight. Since its founding in 2023, Makasí has supported over 2,800 real estate projects across 14 Brazilian states.
Zig raises $25M in series B extension led by Kaszek
Brazilian event tech company Zig raised a $25M Series B extension led by Kaszek, following a $22.5M round earlier in 2024, bringing total funding to $47.5M. Zig offers software and payment solutions for live entertainment, helping venues optimize operations and enhance customer experiences. The new funds will drive expansion into bars, nightclubs, and events beyond Brazil’s Southeast region, as well as growth in Mexico, Portugal, and Spain.
Numia raises 3.5 million dollars
Numia, a tech company specializing in managing customer journeys, secured $3.5M in its first investment round led by Cometa. This funding will help Numia expand its AI-powered solutions in Mexico and Colombia, aiming to exceed 400 corporate clients in 2024, with notable customers like Scotiabank and Santander reporting improved sales conversion and customer satisfaction.
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