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News on Medial
Defence AI startup Helsing breaks the record for European AI, raising a $223M Series B
TechCrunch
·
1y ago
Medial
Helsing, a defense AI startup backed by Spotify founder Daniel Ek, has raised €209 million ($223 million) in a Series B funding round led by General Catalyst, making it the largest European defense tech unicorn. Swedish company Saab has also joined as a strategic investor. Helsing's AI platform aims to enhance defense and national security for liberal democracies by improving efficiency using live data. It has secured contracts with the German government and has been active in Ukraine. The funding round demonstrates confidence in Europe and its mission to protect democracies.
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Related News
Mistral and Helsing partner on AI-driven warfare solutions | Mint
Livemint
·
5m ago
Medial
Mistral and Helsing, two European startups, have partnered to integrate AI into military technology, enhancing defence systems with improved environmental analysis and communication for better decision-making. Helsing, based in Germany, works on drones and Eurofighter jets, while Mistral, a French firm, competes with AI giants like OpenAI. This collaboration signals an increased acceptance of AI in defence, aligning with global trends as AI firms partner with defence contractors despite debates over AI restrictions.
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German defence startup Helsing raises $693 million in latest investment round
Economic Times
·
1m ago
Medial
German defence start-up Helsing raised 600 million euros in its latest investment round, led by Spotify founder Daniel Ek. This funding values Helsing at 12 billion euros, ranking it among Europe’s top five private tech companies. The round was spearheaded by Prima Materia, Ek’s investment company, doubling its initial stake. Other contributors include Lightspeed Ventures, Accel, Plural, General Catalyst, and SAAB. Helsing specializes in AI software for military applications amid increasing geopolitics-driven defence spending.
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Druid, a conversational AI platform for enterprises that integrates with ChatGPT, raises $24M
TechCrunch
·
1y ago
Medial
European AI startup Druid has raised $30 million in a Series B funding round to support its U.S. expansion. Druid specializes in "conversational business applications," offering a platform that helps companies automate customer support and other tasks using conversational AI. The company differentiates itself by integrating generative AI, such as ChatGPT, to handle more generic queries. Druid plans to extend its global footprint, with a focus on the U.S., which now makes up 60% of its revenue. The Series B round was led by TQ Ventures, with participation from European investors.
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Fintech Niro in talks for pre-Series B funding, eyes valuation bump
VCCircle
·
1y ago
Medial
Bengaluru-based consumer fintech startup Niro is in talks to secure pre-Series B funding at a higher valuation than before. The company, backed by Elevar Equity and GMO Ventures, is an embedded lending platform. It is currently raising funds for its pre-Series B funding round.
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Battery Smart to raise $45M in Series B round
Inshorts
·
1y ago
Medial
Delhi NCR-based battery-swapping startup Battery Smart is raising around INR 376.3 Cr (about $45 Mn) from existing and new investors in what seems to be a Series B funding round. The fundraise comes almost a year after the startup raised $33 Mn in its pre-Series B funding round from Tiger Global, Blume Ventures, EIF, and BII.
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Sahyadri Farms in talks for Series B, may add new investors in cap table
VCCircle
·
9m ago
Medial
Sahyadri Farms, a farmer-led agricultural company, is in the process of raising funds for its Series B round. The company, which previously raised Rs 310 crore from European developmental financial institutions, is now looking to add new investors to its capital table. This funding comes as Sahyadri Farms seeks to further expand its operations in the agricultural sector.
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Figure.ai is now valued at $2.6 billion after raising $675 million from tech giants
IndianStartupNews
·
1y ago
Medial
AI robotics startup Figure.ai announced a successful Series B funding round, raising $675 million and achieving a valuation of $2.6 billion. The funding, which included participation from Microsoft and Jeff Bezos, will help accelerate the deployment of the startup's humanoid robots. Figure has also formed a partnership with OpenAI to enhance the robots' language processing and reasoning abilities. Led by CEO Brett Adcock, Figure aims to bring humanoid robots into commercial operations, with its first commercial agreement already established with BMW Manufacturing. The startup will leverage Microsoft Azure for AI infrastructure and services.
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MENA Digest: UAE’s Qeen AI, Egyptian firms Khazna and Simplex net big cheques
VCCircle
·
6m ago
Medial
UAE-based AI startup Qeen AI secured one of the largest seed investments in the MENA region, raising $10 million. Egyptian fintech Khazna obtained pre-Series B funding to support expansion, while CNC machine manufacturer Simplex gained $13 million to expand operations. Wealth management platform Myne raised $2 million. Additionally, Lendo, a Saudi debt crowdfunding marketplace, acquired a $690 million facility to enhance lending and SME coverage, marking notable funding activities across the region.
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Goldman Sachs bets on Simetrik’s payments infrastructure tech - StartupNews.fyi
Startup News FYI
·
1y ago
Medial
B2B financial solutions startup Simetrik has raised $55 million in Series B funding, following a previous round of $20 million. The Colombia-based company focuses on developing financial automation technology for CFOs, including record centralization, reconciliations, controls, reporting, and accounting. Simetrik's scalable and adaptable Simetrik Building Blocks (SBBs), based on no-code development and generative AI technologies, aim to streamline and automate these processes. The funding round was led by Goldman Sachs Asset Management, and the funds will be used to enhance the company's AI capabilities and expand its international presence.
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AI accounting startup Rillet raises $70 million in Andreessen Horowitz-led round - The Economic Times
Economic Times
·
2d ago
Medial
Rillet, an AI-driven accounting software startup, secured $70 million in funding led by Andreessen Horowitz and Iconiq, aiming to challenge Oracle and Microsoft in the industry. This Series B round, joined by Sequoia and others, values the company at approximately $500 million, raising its total funding to over $100 million. Founded by Nicolas Kopp, Rillet's software automates accounting tasks, increasing efficiency. The new funds will enhance platform development and expand the team.
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