Neko Health's Mega Series B Funding Surpasses Many Series C Rounds: A Unicorn Story

Neko Health’s Mega Series B Funding Surpasses Many Series C Rounds: A Unicorn Story

Welcome to this week’s edition of Startups Weekly, your go-to source for the latest insights and updates from the dynamic world of startups. If you want to stay informed about the most significant developments every Friday, consider signing up for our newsletter here.

Highlights from This Week in Startups

This week in the startup ecosystem was bustling, despite a short holiday in the U.S. With Inauguration Day sparking activity among founders, we witnessed a plethora of noteworthy startup news.

Key Startup Stories

  • No divvy: Divvy Homes, a rent-to-own startup backed by a16z, has been acquired by a division of Brookfield Properties for approximately $1 billion. However, some shareholders may not reap the benefits of this sale.
  • Beauty for sale: Hindustan Unilever has agreed to purchase the Indian skincare startup Minimalist, backed by Peak XV, for around $342 million—surpassing the $300 million valuation it sought during its last fundraising round.
  • Big markdown: The AI-powered parking solution, Metropolis, has acquired computer vision startup Oosto for a mere fraction of its previous funding, following controversies related to its technology.
  • Legal clash: Scale AI, once valued at $13.8 billion, faces its third lawsuit this year, with claims from contractors alleging psychological distress from their work on sensitive content. The company emphasizes its commitment to safety measures.

Venture Capital and Funding Updates

This week also saw a diverse range of Series B funding rounds, with some surpassing typical Series C amounts.

Notable Funding Announcements

  • Pre-IPO letters: Databricks successfully closed a $10 billion Series J round at a staggering $62 billion valuation, bolstered by an additional $5.25 billion in debt financing, with Meta as a strategic investor.
  • From cat to unicorn: Neko Health, co-founded by Spotify’s Daniel Ek, secured a $260 million Series B round, bringing its valuation to $1.8 billion.
  • Money to move: Lindus Health, backed by Peter Thiel, raised $55 million in Series B funding, aiming to reform the clinical trial industry.
  • Spending less: The AI-driven SaaS spend management platform, Vertice, raised $50 million in a Series C round, achieving a valuation near $500 million.
  • Indian robotics: Ati Motors, an autonomous mobile robots startup based in India, raised $20 million in Series B funding to expand its international presence.
  • Crypto innovations: In response to the resurgence of cryptocurrency, AngelList and CoinList have teamed up to create special purpose vehicles that will allow crypto founders to raise capital using digital coins.
READ ALSO  Hydratac Secures $3M Funding to Develop Groundbreaking Realistic Shooter Game

Final Thoughts

The AI sector remains vibrant, but venture capitalists are keen to explore specific subsectors. Insights from TechCrunch’s recent survey of 20 enterprise VCs suggest a preference for companies over mere features in the AI landscape.

For more information on startup trends and funding news, visit our website.

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