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AI startups Truefoundry, Cognida collect Series A cheques

VCCircle

VCCircle · 6m ago

AI startups Truefoundry, Cognida collect Series A cheques

AI startups Truefoundry and Cognida.ai received Series A funding due to rising AI demand in enterprises. Truefoundry secured $19 million, led by Intel Capital, to enhance its AI deployment platform and expand. Its customers include Siemens Healthineers and NVIDIA. Cognida.ai, backed by Nexus Venture Partners, raised $15 million to broaden its AI solutions and scale operations. Its platform reduces AI implementation time significantly, highlighting its impactful solutions for enterprise clients.

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Peak XV-backed TrueFoundry secures $19 Mn in Series A funding

Entrackr

Entrackr · 6m ago

Peak XV-backed TrueFoundry secures $19 Mn in Series A funding

TrueFoundry, an AI deployment and scaling platform, has raised $19 million in Series A funding, led by Intel Capital. Existing investors Eniac Ventures and Peak XV’s Surge, along with new investor Jump Capital and several angel investors, including Gokul Rajaram, Mohit Aron, Cyan Banister, and executives from Fortune 1000 companies, also participated. Avi Bharadwaj, the investment director at Intel Capital, will join TrueFoundry’s board of directors. The Bengaluru and San Francisco-based startup had previously raised $2.3 million in its seed round, led by Peak XV’s Surge, in September 2022. The new funding round will enable TrueFoundry to advance its mission of creating a universal platform for building and deploying AI applications without infrastructure challenges, the company said in a press release. The investment will also support key growth initiatives, such as expanding the team and enhancing go-to-market strategies to drive customer acquisition and business expansion. TrueFoundry offers a cloud-native platform designed to simplify machine learning (ML) training and deployment, enabling enterprises to efficiently manage AI applications. By collaborating with prominent companies such as Games 24x7 and Whatfix, TrueFoundry improves ML scalability and maximizes infrastructure efficiency. “Enterprises using TrueFoundry have built and launched their internal AI platforms in as little as two months, achieving ROI within four months—a stark contrast to the industry average of 14 months,” said Nikunj Bajaj, CEO and co-founder of TrueFoundry. According to the company, its platform integrates with multiple clouds, models, and frameworks, preventing vendor lock-in and ensuring deployments are prepared for emerging AI trends such as RAGs and Agents. This funding round comes after a year of strong growth for TrueFoundry, including a 4X year-over-year increase in customers, the deployment of more than 1,000 ML clusters, and partnerships with global companies like Siemens Healthineers, ResMed, Automation Anywhere, and NVIDIA.

MENA Digest: Tabby, AppliedAI get big cheques; Saudi firms Salla, Mush Social ink M&As

VCCircle

VCCircle · 5m ago

MENA Digest: Tabby, AppliedAI get big cheques; Saudi firms Salla, Mush Social ink M&As

Saudi Arabian startups led early-stage funding in MENA, with Tabby becoming a top fintech firm by raising $3.3 billion in a Series E round. Other funded startups include Buildnow, AppliedAI, PIESHIP, RasMal, and Taager. Notable acquisitions saw Salla buying Sweply, rebranding it to 'Salla Ads', and Mush Social acquiring Pubbles. AppliedAI secured $55 million to expand its AI tools, while Buildnow and other startups aimed to use their funds for market expansion and developing new services.

Weekly Funding Wrap: Large cheques, late-stage deals make a comeback; startups raise about $105 million

Money Control

Money Control · 1y ago

Weekly Funding Wrap: Large cheques, late-stage deals make a comeback; startups raise about $105 million

During the week of December 4-8, startups raised a total of $104.5 million in investment deals, with late-stage deals making a comeback. Sarvam.ai, a generative AI startup, raised $41 million in its Series A funding round. The Sleep Company, a direct-to-consumer mattress maker, raised $22 million in its Series C round. CoreEL Technologies, an aerospace and defense products manufacturer, secured $16 million in a Series A funding round. Other notable investments include Ashv Finance and Biryani By Kilo.

MENA Digest: UAE’s Wafeq, BioSapien get biggest funding cheques this week

VCCircle

VCCircle · 7m ago

MENA Digest: UAE’s Wafeq, BioSapien get biggest funding cheques this week

UAE-based startups, Wafeq and BioSapien, secured the largest funding amounts in the MENA region this week. Wafeq, an accounting platform for SMEs, raised $7.5 million in a Series A funding round led by 9900 Capital. BioSapien, a healthtech company developing a drug delivery platform to treat cancer, raised $5.5 million in a pre-Series A round led by Global Ventures. Other startups that raised funds include Saudi edtech platform AlGooru, Moroccan B2B marketplace Z, Saudi-based services platform Abikhdmn, UAE-based B2B autotech company BuyAnyAutoPart, and web 3.0 social network DeChat.

Crèmeitalia, Rupeeflo, Rubyworks pocket early-stage cheques

VCCircle

VCCircle · 5m ago

Crèmeitalia, Rupeeflo, Rubyworks pocket early-stage cheques

Cheese products company Crèmeitalia raised Rs 18 crore in Series A funding, led by Amit Jatia Family Office, to scale operations and distribution. Founded in 2017, it aims for a 5x growth within 24 months. Fintech startup Rupeeflo, focusing on NRIs, secured $1 million in pre-Seed funding led by Piper Serica Angel Fund to develop a full-stack investment platform. Flexi-talent financial research platform Rubyworks, co-founded by Nirav Morakhia, raised undisclosed pre-Series A funding to expand and launch its AI-powered platform.

Early-stage venture funding bounces back but Series A cheques far below the peak

VCCircle

VCCircle · 3m ago

Early-stage venture funding bounces back but Series A cheques far below the peak

Early-stage venture capital funding for Indian startups has rebounded, reaching pre-pandemic levels with nearly one startup receiving funding every eight hours in the first three months of the year, according to VCCEdge data. However, Series A funding amounts remain significantly below their peak. Although funding activity surged during 2021-22, current Series A investments have yet to return to those highs, indicating some caution among investors despite the overall improvement in early-stage funding momentum.

C2i Semiconductors, 30 Sundays secure early-stage cheques

VCCircle

VCCircle · 9m ago

C2i Semiconductors, 30 Sundays secure early-stage cheques

Chip design startup C2i Semiconductors and AI-based travel agent 30 Sundays have both secured early-stage funding. C2i Semiconductors raised $4 million in a funding round led by Yali Capital and Lip-Bu Tan, while 30 Sundays raised $770,000 in pre-seed funding led by Infoedge Ventures. C2i Semiconductors plans to use the funds to expand its chip design capabilities, while 30 Sundays intends to open more destinations and strengthen its AI and data capabilities. Yali Capital has invested in a total of three deep tech startups so far and expects to complete one more investment by December.

GalaxEye, CynLr, Heliware secure early-stage cheques

VCCircle

VCCircle · 9m ago

GalaxEye, CynLr, Heliware secure early-stage cheques

Spacetech startup GalaxEye, deeptech robotics startup CynLr, and 3D geospatial platform Heliware have secured early-stage funding. GalaxEye raised $10 million in a Series A funding round, allowing them to accelerate the development of their satellite mission for delivering high-resolution, all-weather data. CynLr raised $10 million in a Series A round, which will be used to expand their team and research capabilities. Heliware secured $0.5 million in pre-Series A funding to support the launch of their new products. These investments will further the growth and development of these innovative companies.

MENA Digest: Egypt's Nawy, Saudi startup WakeCap bag big Series A cheques

VCCircle

VCCircle · 2m ago

MENA Digest: Egypt's Nawy, Saudi startup WakeCap bag big Series A cheques

Nawy, an Egyptian proptech startup, raised $52 million in Series A funding led by Partech, alongside $23 million in debt financing, to enhance its tech stack and expand regionally. Saudi Arabian startup WakeCap secured $28 million in Series A funding for geographical expansion and to improve its construction site management technology. Additionally, Saudi Arabia-based Kilow and UAE-based AqlanX received seed investments to expand their healthtech and AI-driven business automation services, respectively, reflecting a vibrant funding scene in the MENA region.

Probus, Healthfab, Agrilectric bag early-stage cheques

VCCircle

VCCircle · 5m ago

Probus, Healthfab, Agrilectric bag early-stage cheques

Probus, Healthfab, and Agrilectric have secured early-stage funding. Probus, focused on smart grid technologies, raised $5 million in a Series A round led by Unicorn India Ventures. Healthfab, known for reusable period panties, raised $1 million in a pre-Series A led by Mistry Ventures. Agrilectric secured $100,000 for developing electric-powered farming solutions. These firms aim to utilize the funds to enhance product development, market reach, and technological advancements in their respective sectors.

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