25% of Google's new code is AI-generated & Russia fines Google $20.5 decillion for blocking YouTube channels

☕ Good Thursday Morning. Welcome to today's quick rundown in the Venture Daily Digest Newsletter.

Scroll down to find

• How AI is writing a quarter of Google's code,

• MrBeast's $23M crypto controversy, and

• Russia's mind-boggling $20.5 decillion Google fine!

• Plus, GitHub's English-to-code breakthrough and Apple's M4 MacBook revolution are reshaping tech.

Today's startup excellence blueprint: Decode top SaaS performers' revenue secrets, master the AI marketing revolution with a16z, bridge the gap between customer-product-business languages, and dive into Stanford's definitive AI trends report. Fresh VC and startup opportunities await!

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🗞️ Startup Funding Updates

Matter Intelligence, a Los Angeles, CA-based remote sensing startup, raised $12M in Seed funding. The round was led by Lowercarbon Capital, with participation from Toyota Ventures, Pear, Mark Cuban, and E2MC.

Tabs, a NYC-based leader in revenue automation for B2B businesses, raised $25m in Series A funding. The round was led by General Catalyst, with participation from Primary Ventures and Lightspeed.

MIND, a Seattle, WA-based company which specializes in data loss prevention (DLP), raised $11M in funding. The round was led by YL Ventures with participation from cybersecurity leaders at Adobe, ADT, CrowdStrike, and FireEye.

Modash, based in Estonia, helps brands discover niche content creators for influencer marketing. It raised $12 million in a Series A led by Dutch VC firm henQ. 

Verax AI, a Dallas, TX- and Tel Aviv, Israel-based provider of enterprise-grade software solutions, raised $7.6M in Seed funding. The round was led by TQ Ventures with participation from Concept Ventures, Cardumen Capital, Seedcamp, InMotion Ventures, and XTX Ventures.

Avina, a NYC-based proprietary AI companion that guides sellers from their first meeting to their last email, raised $3.2M in Seed funding. The round was led by nvp capital and RRE Ventures, with participation from Y Combinator.

Archon, a Seattle, WA-based biotechnology company providing computationally designed Antibody Cages (AbCs), raised $20M in Seed funding. The round was led by Madrona Ventures with participation from DUMAC Inc., Sahsen Ventures, WRF Capital, Pack Ventures, Alexandria Venture Investments and Cornucopian Capital.

Neara, a Sydney, Australia-based provider of an AI-powered predictive modeling software platform for critical infrastructure, raised US$31M in Series C funding. The round was led by EQT, with participation from Partners Group and Square Peg Capital, with additional support from existing investors Skip Capital and Prosus Ventures.

Cornerstone AI, a San Francisco, CA-based maker of an AI software solution that cleans real world healthcare data, raised additional $5M in Funding. The round was led by Acrew Capital, with participation from existing investors Initiate Ventures and Healthy Ventures, as well as Travis May, founder and former CEO of Datavant, and Web Sun and Arif Nathoo, the co-founders of Komodo Health.

CREW Carbon, a Brooklyn, NY-based climetetech startup, raised $5.3m in seed funding. The round was led by Counteract with participation from ReGen Ventures, ANIMO, Connecticut Innovations, Ponderosa Ventures, Newlab, Echo River Capital, and the Carbon Drawdown Initiative.

Hotglue, a Washington, DC-based B2B SaaS provider of embedded integrations, raised $4M in Seed funding. The round was led by 8VC, with participation from Y Combinator, Correlation Ventures, Wayfinder Ventures, and TDF Ventures.

Diffblue, an Oxford, UK-based creator of autonomous generative AI-for-code software, raised $6.3M in funding. The round was led by IP Group, Parkwalk Advisors, and AlbionVC, with additional participation from Oxford University, and private investors via the Oxford Technology and Innovations EIS Fund (OTIF).

Toothio, a Phoenix, AZ-based digital staffing marketplace for the dental industry, raised additional $5M in funding. The round was led by nvp capital and Craft Ventures. Rho Capital, Marketplace Capital, Roosh Ventures, Burst Capital, Revere Partners, Karman Ventures, Az Crown, and Connexa Capital also participated.

Databento, a Salt Lake City, UT-based financial data company, raised $10M in additional funding, increasing its total Series A round to $30M. Backers included Belvedere Trading, Clear Street, Lightscape Partners, and others.

Regal, a NYC-based customer-centric contact center software, closed a $40m funding round. Emergence Capital was the lead investor while Founder Collective and Homebrew both contributed.

Axonis Therapeutics, a Boston, MA-based biotechnology company focused on the development of novel neuromedicines, raised $115M in Series A funding. The round was led by Cormorant Asset Management and venBio Partners with participation from Sofinnova Investments, MRL Ventures Fund, Perceptive Advisors, Lumira Ventures and Solasta Ventures.

Fingercheck, a NYC-based provider of a workforce management platform for small and medium businesses (SMBs) with ‘deskless’ workforces, received $115M in funding. The round was led by Edison Partners with participation from StepStone Group [NASDAQ: STEP] and Columbus Capital.

Sana, a Stockholm, Sweden-based company which specializes in applying AI to enterprise knowledge, raised $55M in funding. The round, which brings Sana’s total funding to over $130M, was led by NEA with participation from Menlo Ventures and other investors.

Final Boss Sour, a Los Angeles, CA-based gaming-themed snack alternative brand, raised $3M in Seed funding. The round was led by Science Inc. with participation from Aoki Labs, F4 Fund, GFR Fund, Uncommon Denominator, Jason Calacanis’ LAUNCH Fund and The Syndicate.

📰 Venture Capital Updates

Janngo Capital, based in Abidjan, Mauritius, Tunis, and Paris, closed its second fund at €73M ($78M), surpassing its €60M target. Anchor investors like AfDB and EIB were joined by the Mastercard Foundation Africa Growth Fund and others. The firm plans to back 25-40 startups across sectors like healthcare, logistics, and fintech.

Crosscut Ventures, led by Brian Garrett, has launched a new $100 million seed fund focused on frontier tech, including energy, space exploration, advanced manufacturing, and climate solutions. The firm has seen talented founders emerge from companies like SpaceX and Anduril, driving its focus on hardware-centric technologies. Crosscut plans to bring on a partner with expertise in growth and project finance to support its hardware startups beyond the typical venture lifecycle.

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🤖 Latest In Tech

More than 25% of new code at Google is created by artificial intelligence and then validated by engineers, according to CEO Sundar Pichai. This AI-driven approach is boosting efficiency, enabling faster innovation, and contributing significantly to Google’s robust financial performance. Google achieved a revenue of $88.3 billion for the quarter, with significant growth seen in Google Services and Google Cloud, highlighting AI's impact on profitability.

GitHub Spark, announced at the GitHub Universe conference, lets users build web apps by describing them in natural language, moving beyond the need for traditional coding. This experimental feature from GitHub Next labs provides a chat-like interface for users to create and refine app prototypes, while experienced developers can optionally access and modify the underlying code. Spark supports advanced customization by allowing users to choose between different AI models, share their projects with specific permissions, and further develop shared code independently.

🪄 Other News

Apple has revealed new MacBook Pro models in 14-inch and 16-inch sizes, showcasing the advanced M4 Pro and M4 Max chips, equipped with Thunderbolt 5 technology and improved display features. The M4 Pro and M4 Max models stand out with high-performance CPUs and GPUs, including up to 128GB unified memory, supporting enhanced external display capabilities and faster speeds than previous generations. These MacBook Pros offer improved battery life, a 12MP Center Stage camera, and connectivity options like HDMI and MagSafe 3, available in space black and silver, starting at $1,599.

Russia has imposed an astronomical fine on Google, amounting to two undecillion rubles, equivalent to $20.5 decillion, due to YouTube's blocking of Russian channels. Compound interest has significantly inflated Google's fine, which began with a daily penalty that doubles weekly for non-compliance with a court order to restore 17 banned Russian channels. Despite the massive fine, Google remains unperturbed, as Alphabet believes that ongoing legal issues with Russia won't have a material adverse impact on their operations.

MrBeast is being investigated for alleged crypto pump-and-dump schemes, reportedly using over 50 wallets. He allegedly made up to $23 million from tokens like SuperVerse, Eternity Chain, PolyChain Monsters, and SHOPX. Blockchain experts support the findings, with reports detailing these transactions since 2021.

🧐 In-Depth Insights

• What does it take to be a top performing SaaS company? A new report from Dealroom and Flashpoint highlights the revenue figures that top-performing SaaS startups are seeing [sifted]

• Say Hello to My New AI Marketer: How Gen AI-Based Software Is Advancing Marketing and Sales [a16z]

• Disentangling the three languages: customers, product, and the business. Stop talking past each other. Translate between the three “languages” of customer desires, product features, and business goals [Jason Cohen]

• The AI Index Report. Measuring trends in AI [Stanford]

📬 Venture Daily Digest Picks

• Understanding how VCs think - The Math Behind Venture Capital. (Read)

• Marc Andreessen's All-in-One Guide for Founders. (Read)

• How Do VCs Decide to Take a First Meeting? - 12 Reasons. (Read)

• AI is killing remote work - Sahil Lavingia (Read)

• What KPIs should I track for SEO? - Cheatsheet (Read)

• Paul Graham's Views on Competitor Analysis and a Framework for Performing It. (Read)

• Circle’s Founder, Sid Yadav’s Views on Startup Valuation. (Read)

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