This week in startup news, funding flowed to key sectors like defense, cybersecurity, and health. Several notable funding rounds and acquisitions took place.
Acquisitions and Partnerships
- Cybersecurity firm Wiz acquired Dazz, a security remediation and risk management company, for $450 million.
- Cloud company Snowflake acquired data pipeline management company Datavolo for an undisclosed amount.
Funding Rounds
- Indian quick-commerce startup Zepto raised $350 million.
- Finnish smart ring maker Oura secured $75 million from Dexcom, reaching a valuation of over $5 billion.
- Hospitality data analytics platform Lighthouse raised $370 million, achieving unicorn status with a $1 billion valuation.
- U.K.-based nuclear startup Tokamak Energy raised $125 million for its fusion reactor development.
- Portuguese drone startup Tekever raised €70 million ($74 million) to expand into the U.S. market.
- Lightning AI secured $50 million to broaden its AI platform's reach.
- OneCell Diagnostics, focused on cancer recurrence with AI, raised $16 million.
VC and Fund News
- Blue Bear closed a $160 million fund focused on AI in climate, energy, and industry.
- Bling Capital secured $270 million for its fourth fund.
Other News
- Swedish battery unicorn Northvolt filed for bankruptcy in the U.S.
- German fintech unicorn N26 reported its first profitable quarter.
- Defense tech startups have raised nearly $3 billion in 2024, surpassing the 2022 record.
For more on AI funding trends, see Sequoia's 2020 Fund Sees 24.6% Growth Driven by AI. Also, consider the implications of OpenAI Funding Research on AI Morality in the context of these advancements. For insights into startup competition, check out Y Combinator's Strategy: Backing Similar Startups and the Resulting Competition.