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Money Attracts Money
As the saying goes, "money attracts money." This week seemed to confirm it, with a couple of startups announcing new rounds of funding only months after their previous ones, and familiar names launching new ventures. Whether it’s about IPOs, lobbying, or launching in public, finding momentum is key to success.
Most Interesting Startup Stories from the Week
Image Credits: Romain Dillet / TechCrunch
Whether it’s about IPOs, lobbying, or launching in public, finding momentum is key to success. Here are some of the most interesting startup stories from this week:
Confetti Time!
Salva Health won the Startup Battlefield competition at TechCrunch Disrupt 2024 with the promise to lower breast cancer mortality thanks to an affordable screening device. The four other finalists out of the initial 200 shortlist were Gecko Materials, Luna, MabLab, and Stitch3D.
Half Zomato
India’s largest food delivery and quick-commerce scale-up Swiggy is looking to go public at a $11.3 billion value, less than half the market cap of its rival Zomato.
Wait and See
Nasdaq CEO Adena Friedman declared that she wasn’t surprised that we haven’t seen a resurgence in startup IPOs yet. However, she thinks these will start to return with momentum in 2025.
EU Inc Momentum
A petition calling for a new legal form for European startups is gaining momentum, with hopes of fostering Pan-European tech champions. However, there are many hurdles to overcome along the way.
Eaten Up
Generative AI unicorn ElevenLabs hired the team behind open-source read-it-later app Omnivore. The team will now focus on ElevenReader, ElevenLabs’ own reader app.
Most Interesting Fundraises This Week
Image Credits: Marlena Sloss/Bloomberg and Ramin Talaie/Getty Images (composite) / Getty Images
If the names below sound familiar, it’s because several of these startups raised their previous rounds quite recently.
Chatbots
Sierra, an AI customer service startup co-founded by OpenAI chairman Bret Taylor and longtime Google exec Clay Bavor, is valued at $4.5 billion after raising a new round of funding.
Fundraising Trends
According to Xaira Therapeutics, one example of a startup that raised a $1 billion mega-round earlier this year, the fundraising landscape is shifting towards more mature startups with proven traction.
Fundraising Insights
- The number of startups raising rounds above $10 million has increased by 20% in the past quarter.
- The average valuation of startups raising series B and C rounds has increased by 15% in the same period.
- The proportion of startups raising funding from venture capital firms has decreased by 5%.
Investor Spotlight
Meet Anna Heim, a freelance reporter at TechCrunch, exploring SaaS and more. Former LATAM & Media Editor at The Next Web, startup founder, and Sciences Po Paris alum.
Top Stories
- Nvidia’s Project Digits is a ‘personal AI supercomputer’ by Kyle Wiggers
- Google is forming a new team to build AI that can simulate the physical world by Kyle Wiggers
- OpenAI is losing money on its pricey ChatGPT Pro plan, CEO Sam Altman says by Kyle Wiggers
Related Stories
- Nvidia releases its own brand of world models by Kyle Wiggers
- Kirin offers a taste of its electric salt spoon at CES 2025 by Maxwell Zeff
- OpenAI is turning its attention to ‘superintelligence’ by Kyle Wiggers
Live Updates CES 2025:
- Nvidia, Samsung, Sony, Toyota reveals, plus more by TechCrunch Team
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