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This week brought us some exciting funding news from around the world, and even some exits. But if you're looking for a tech IPO, you need to look to India. Meanwhile, in the U.S., startups could help reduce the environmental impact of data centers.
This week's most interesting startup stories
Image credit: Tablespace
Although we were once again reminded that not all startups succeed, even with YC backing, as mentioned above, there are a few exits to report.
Open Space: Indian managed workspace startup Table Space is planning an IPO next year at a valuation of $2.5 billion, according to sources. As TechCrunch's Manish Singh noted, “Indian markets have delivered more tech IPOs this year than the US, as valuation multiples approach record highs in South Asian markets.”
Trail Mix: Cybersecurity unicorn Cyera has made its first acquisition, Trail Security, a data loss prevention startup acquired for $162 million in cash and stock. Cyera is also looking to raise more money for itself, with a valuation closer to $3 billion, or about $200 million, sources confirmed.
Engagement: Analytics software company Amplitude has acquired Command AI, a San Francisco-based app user engagement startup formerly known as CommandBar. Most of the 30-person team will join Amplitude, which goes public on Nasdaq in 2021. The deal price was “more than $45 million,” a source told TechCrunch.
Fintech struggles: CapWay, the fintech startup that was part of Y Combinator's summer 2020 cohort, no longer exists. Its goal was to bring financial services to the “banking desert.”
This week's most interesting fundraisers
Image credit: Light Matter
Data center efficiency is a promise that continues to attract capital, but money also flowed to other interesting startups in different sectors and countries.
Reaction time: Nuclear technology startup X-Energy has raised $500 million in a Series C-1 round led by Amazon's Climate Pledge Fund. This comes at a time when cloud giants are looking for cleaner ways to power their data centers.
The power of light: Lightmatter raises $400 million Series D at a $4.4 billion valuation to reduce energy demands in data centers and AI models thanks to photonic chips. Another startup in the space, Xscape Photonics, raised $57 million to grow its team and scale production.
Diamonds in the trash: Japanese startup Okuma Diamond Devices (ODD) has raised about $27 million to build a diamond semiconductor manufacturing facility that will make chips used to clean up radioactive debris.
Broader inclusion: Fable, a Toronto-based startup that helps companies build digital products that are more easily used by people with disabilities, has raised $25 million in new funding. This capital will help fund new teams and products focused on accessibility tools for cognitive and hearing impairments.
Space for Earth: OroraTech, a German startup that uses satellites to detect wildfires, has raised $25 million to grow its market and cover more of the planet.
This week's most interesting VC and fund news
Image credit: 20VC under license.
Micro has gone big: Venture firm 20VC, named after Harry Stebbings' podcast series, is moving further away from the days of micro VC. Mr Stebbings said he was closing a new $400 million fund with the goal of “making Europe great again”.
Fund hunt: Regulatory filings reveal venture capital firm Buckley Ventures is seeking to raise a fourth $250 million round. The company was founded in 2019 by Josh Buckley, who was also the CEO of Product Hunt from 2020 to 2023. The previous fund closed with $337 million, according to PitchBook.
Nordic Wind: Node.vc, a venture capital firm focused on the Nordics and Baltics, has closed its first fund of €71 million. The company, founded in 2023, is part of a new wave of European venture firms that claims to operate as “entrepreneurs supporting entrepreneurs.”
In memory of
Image credit: John Phillips/Getty Images for TechCrunch
The startup world lost something to itself this week with the untimely passing of former TechCrunch colleague Steve O'Hear at the age of 49. This heartbreaking news also revealed how grateful many of the company's founders were for his support over the years. Our thoughts are with his family, friends and the team at communications consultancy Ohia & Company, who look forward to continuing and building on his legacy.