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This week probably wasn't the best week to make any kind of big announcement. But when it comes to startups, there are quite a few contrarian companies out there, and despite the US election news cycle, there are still some interesting stories to cover.
This week's most interesting startup stories
Image credit: Kimberly White/Getty Images for TechCrunch
This week we'll be covering some election news and other news, including mergers and acquisitions and closures. In other words, it's business as usual.
AI Night: Perplexity is likely another winner on election night. While most AI labs were absent from this election and Grok seemed to be struggling, Aravind Srinivas' AI startup provided reliable insights and maps through its Election Information Hub.
No major changes in the weather: Trump's return to the US presidency does not necessarily mean that inflation control laws will be repealed. Start-ups have broadly benefited from this climate change-focused legislation, either directly or indirectly through its impact on investments and customer demand.
Exit: Bowery Farming, the agricultural technology startup that once became a unicorn after raising more than $700 million, is going out of business, according to Pitchbook. The New York-based vertical farm company implemented multiple layoffs in 2023.
Fresh Ink: Long-established Latvian print-on-demand companies Printful and Printify are merging. Ultimately, they plan to hire a new company that has not yet been disclosed. Terms of the contract have also not been disclosed.
This week's most interesting fundraisers
Image credit: DeepRoute.ai
Although the number and value of deals were lower than usual, some startups bucked the noise of the US election and announced new funding rounds this week.
Auto racing: Chinese self-driving technology startup DeepRoute.ai raises $100 million from Great Wall Motors. The company wants to quickly deploy its self-driving system before Tesla takes advantage of the avenues China has opened for full-service driving (FSD).
The key: MoradaUno, a Mexico City-based startup that simplifies the apartment rental process, has raised $5.6 million in a Series A round co-led by Cometa and Flourish Ventures.
Zero to One: Dash0, the Datadog challenger founded by former Instana CEO Mirko Novakovic and teammates, has joined Accel Raised $9.5 million in a led seed round.
Fresh Air: Transaera raises $8.2 million in seed funding for dehumidification solutions using dedicated outdoor air systems (DOAS). The funding will help the company manufacture and install more DOAS pilot units in commercial buildings.
Leaving the underworld: Robotics startup Ulysses has emerged from stealth to announce a $2 million pre-seed funding round led by Lowercarbon Capital. The startup uses autonomous underwater robots to plant seagrass on the ocean floor.
This week's most interesting VC and fund news
Image credit: Faber
Crossover: Coatue Management is raising $1 billion for future investments in AI-focused companies, according to Bloomberg. The hedge fund invested in more than 170 VC-backed companies in 2021 and has since slowed down, but hasn't stopped backing startups.
Faber closes: Lisbon-based VC firm Faber has secured €31 million in the first close of its third fund, with €60 million (approx. The Dutch company aims to raise $64.2 million ($64.2 million), with a focus on deep technology, AI, robotics and biotechnology.
Last but not least
We already knew that financing in the post-ZIRP (zero interest rate policy) era would be difficult. We're also learning now that there is no magic revenue number to unlock a Series A round. As Greylock partner Corinne Riley said on stage at Disrupt, there are no set milestones that VCs require. “What we’re looking for is really ARR quality.” [annual recurring revenue]Not the amount of ARR. ”