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The second week of the year is usually a busy week for startup news, and 2025 is no exception. From CES product announcements to M&A and funding rounds, here's what you need to know.
This week's most interesting startup stories
Image credit: May Mobility
Several startups announced new products at CES 2025, including Full Nature Farms and its farm irrigation system, Soliddd and its smart glasses for macular degeneration patients, and May Mobility and its electric self-driving minibus. Other news this week included:
Green light: Dutch semiconductor giant NXP has announced plans to acquire TTTech Auto, a VC-backed Austrian spin-off specializing in safety software for self-driving cars, in an all-cash deal valued at $625 million.
Healthy Matches: Healthcare analytics platform H1 acquires Ribbon, a Y Combinator alumnus that helps patients find insurance-supported doctors and had funding from a16z and General Catalyst .
A flurry of lawsuits: In the latest episode of recent legal troubles, Flock Safety is being sued by a mayor who claims the public safety technology company wrongfully fired him.
Room for partners: 3D design app Rooms has secured a partnership with Google, which will invest $1 million in the startup and provide early access to Gemini AI.
Wild Ride: Defense Technology Headhunter Peterson Conway is a very unique guy, and his profile is a great read.
This week's most interesting fundraisers
Image credit: Whatnot
The first pentagon will be born soon this year, but not completely. Several other funding rounds of varying sizes also made news.
Almost Pentagonal: Livestream shopping app Whatnot has raised $265 million in Series E funding, giving it a valuation of nearly $5 billion ($4.97 billion to be exact). The company also revealed that its annual gross merchandise value (GMV) exceeded $3 billion.
Blue Ocean: Xocean, an Irish marine robotics startup that collects ocean data with unmanned surface vessels (USVs), has raised $119 million to expand beyond the energy and hydrographic sectors.
Crossing borders: Irish startup NomuPay, created from part of failed German fintech Wirecard's regional payments license, has been valued at 2 as it expands payments rails in underserved markets across Asia. The company raised $37 million in a Series B round.
Results: OnPay, an Atlanta-based startup developing payroll and human resources solutions, has raised $100 million in debt facilities and $100 million in funding, including a $63 million Series B round led by Carrick Capital Partners with participation from AB Private Credit Investors. We have secured more than 20,000 new funds. .
Game on: Grand Games, the Turkish startup behind Magic Sort and Car Match, has raised $30 million in Series A funding led by London-based Balderton. Balderton also recently backed Find the Cat maker Agave Games.
This week's most interesting VC and fund news
Image credit: Defiant
Newcomer: European venture capital startup Defiant has come out of stealth and announced its intention to raise up to $70 million in initial funding. The funding is focused on B2B SaaS and fintech and has already secured $30 million. .
Trucking: Transportation-focused Trucking Venture Capital plans to make about 30 seed investments from its new $70 million fund. The new fund, the third to date, is supported by strategic limited partners including auto suppliers, tire manufacturers, insurance companies and airlines.
India-focused fund: Silicon Valley-based South Park Commons has raised an India-focused fund. While some venture capital firms found the market difficult and others doubled down, Accel took a cautious approach. In an interview with TechCrunch, partner Shekhar Kirani said the firm could have raised “billions of dollars” for its latest India fund, but didn't.
Last but not least
VC investment in some emerging markets fell by more than 40% in 2024, with more than half of the world's VC funds flowing to Silicon Valley. Data comes from a variety of sources, but the situation remains the same, and there is no indication that this will change in 2025 as the AI boom continues.