Apple reportedly Developing Foldable iPhone and iPad & Google DeepMind Launches 4K AI Video Generator.

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STARTUPS RAISING MILLIONS

Startup Funding Updates

Familiar Machines & Magic, a Boston-based home robotics company co-founded by former iRobot founder Colin Angle, raised $15M from eight investors, targeting a total of $30M. The company is developing health and wellness-focused home robots, with Data Point Capital confirmed as an investor. Co-founders include former iRobot CTO Chris Jones and Amazon Scout alumnus Ira Renfrew.

Prequel, a software reliability platform leveraging community-driven insights to detect bugs in Linux workloads, emerged from stealth with a $3.3M seed round, led by Work-Bench. The round saw participation from Runtime Ventures, Operator Partners, and notable angels including Elastic CTO Shay Banon and former Duo Security CTO Jon Oberheide.

Triton Anchor, a Chelmsford, MA-based offshore anchoring systems company, raised $2.2M in Seed funding and secured a $3.5M grant. The Seed round was co-led by MWNW Consulting Group with participation from OS Impact Investment, Katapult Deep Ocean Blue Fund, the Massachusetts Clean Energy Center (MassCEC), and Triton Early Growth Fund.

CredibleX, an Abu Dhabi, UAE-based provider of a working capital finance platform for SMEs, raised US$55M in Seed funding. The round consisted of a Seed equity investment from Further Ventures, and participation in debt from Kilgour Williams Capital, Berkley Square Finance, and other debt providers.

Bnewable, a Zaventem, and Luik-Belgium-based company specializing in battery systems and energy management for businesses, raised €40M in funding. Backers included RGREEN INVEST, Wallonie Entreprendre, and Dovesco Fund Investments.

Chargezoom, a Silicoln Slopes, UT-based provider of a platform for AI-powered billing and integrated payments, raised $11.5M in Series A funding. The round was led by Salt Lake City’s Kickstart Fund, with participation from Motley Fool Ventures, Early Light Ventures, Frazier VC and Adly alongside continued support from SaaS Venture Capital, Stout Street Capital, and Okapi Venture Capital.

Unrivaled, a Miami, FL-based professional women’s basketball league, raised $28M in Series A funding. The round was led by Berman Family with participation from Giannis Antetokounmpo, Build Your Legacy Ventures, Linda Henry, Avenue Sports Fund, Marc Lasry, Michael Phelps, Nicole Phelps, Dawn Staley, Warner Bros. Discovery, JuJu Watkins, Amy Banse, Black Economic Alliance Venture Fund, Threadneedle Ventures, Richard Hamilton, and Joe Ingles.

Precision Neuroscience, a NYC-based brain–computer interface (BCI) company, raised $102M in Series C funding. The round was led by General Equity Holdings, with participation from firms including B Capital, Duquesne Family Office, the investment firm of Stanley F. Druckenmiller, and Steadview Capital, bringing the total amount to $155M.

Fluid Biomed, a Calgary, Alberta-based clinical stage medical device company developing lifesaving products for patients suffering from vascular disease, raised $27M USD in Series A funding. The round was led by Amplitude Ventures and an undisclosed major strategic partner, with participation from IAG Capital Partners and LifeArc Ventures, as well as returning investors, ShangBay Capital and METIS Innovative.

Keepit, a Copenhagen, Denmark-based independent, cloud-native data protection and backup provider, raised $50M in Funding. The round was led by One Peak, and EIFO, bringing the total founding to $90M.

Current, a NYC-based provider of a consumer fintech banking platform, raised additional $200M in funding. Backers included Andreessen Horowitz, Wellington Management, and Avenir, with participation from General Catalyst and Cross River.

Jiko, a San Francisco, CA-based company developing a technology platform and bank that provides access to U.S. Treasury bills, raised $29M in Series C funding. The round was led by Upfront Ventures, with participation from Airbus Ventures, Red River West, Radicle Impact and other undisclosed investors.

Xcoub, a Wellington, New Zealand-based company which specializes in the decentralized finance (DeFi) staking space, raised $7M in Series A funding. Backers were undisclosed.

Nintx, a São Paulo, Brazil-based biotech company researching and developing treatments for multifactorial diseases using Brazil’s biodiversity, raised US$10M in funding. Backers included Pitanga, Ecoa Capital and MOV Investimentos. Strategic partners Tiaraju and Adeste also invested. The Series A funds are complemented with a grant of US$ 2.5M by FINEP.

Askable, a Brisbane, Australia-based provider of an on-demand research and insight delivery platform, raised AU$22M in Series A funding. The round was led by Airtree Ventures.

Fantasy, a decentralized trading card game provider, raised $4.25m in seed funding. The round was led by Dragonfly with participation from Manifold Ventures.

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NEW VCs IN THE MARKET

Venture Capital Updates

MarcyPen Capital Partners has been formed through a merger between Jay-Z's Marcy Venture Partners and Pendulum Holdings' investment arm Pendulum Opportunities, creating a firm with $900M in assets under management. The merged entity, finalized around September, is currently raising a $250M MarcyPen Opportunities Fund II, of which over $100M has already been secured.

G2 Venture Partners, which spun out of Kleiner Perkins Caufield & Byers, is raising its third fund with a target of $750 million, representing a significant increase from its previous $500 million fund closed in 2021. The firm, known for investing in climate and sustainability startups like Arcadia, 1Komma5, and Crusoe, seems optimistic about the sector's future despite potential concerns about the incoming Trump administration's impact on climate-focused companies.

KEY STORIES IN TECH

Latest In Tech

Apple is reportedly developing two foldable devices: a larger 19-inch model that could serve as a desktop monitor alternative, and a smaller foldable iPhone, with the latter targeted for a potential 2026 launch. According to The Wall Street Journal and Bloomberg reports, while both devices have been in development for years, the company is particularly focused on creating crease-free screens for these devices.

OpenAI has made ChatGPT Search available to all users, including non-paying ones, with new features like embedded photos, YouTube videos, and improved mobile experience with business information integration. The update also brings faster performance, browser integration options, and Advanced Voice Mode compatibility, though some publishers have expressed concerns about AI-powered search tools potentially impacting their web traffic.

Cohere, the $5.5B-valued AI startup, has been quietly partnering with Palantir to deploy its AI models to various Palantir customers through the Foundry platform, as revealed in a November 2024 DevCon1 presentation.

Google DeepMind has unveiled Veo 2, a next-generation video-generating AI that can create two-minute-plus clips in 4K resolution, surpassing OpenAI's Sora in both resolution and duration capabilities. While currently limited in Google's VideoFX tool to 720p and eight-second clips, Veo 2 promises improved physics understanding, camera controls, and clearer footage, though it still faces challenges with coherence and character consistency.

LAST COFFEE SIP

Other News

The EU has launched a €10.6 billion project for the IRIS² constellation, comprising 290 satellites in medium and low-earth orbit, as a competitor to Starlink. The IRIS² network will offer secure internet connectivity to government bodies, businesses, and citizens while also providing high-speed internet to remote areas across Europe. Led by SES, Eutelsat, and Hispasat, the SpaceRISE consortium has received a 12-year contract to develop and operate the constellation, aiming for service availability by 2030.

The US government has introduced new chip sanctions that aim to block Chinese access to AI chips by giving select US tech companies gatekeeper status. Companies like Google and Microsoft will act as global gatekeepers, providing AI services without a license in allied countries, effectively closing loopholes previously exploited by Chinese firms. China is retaliating against these US sanctions by declaring American chips unsafe and restricting certain mineral exports critical for chip manufacturing, intensifying the tech competition between the two nations.

OpenAI has launched Projects in ChatGPT for Plus, Pro, and Teams subscribers, allowing users to organize files and conversations in customizable folders with document integration and custom instructions. The feature, which will expand to Enterprise and Edu users in January, aims to keep users within the ChatGPT ecosystem and competes with Google's NotebookLM, with plans to add Google Drive and OneDrive connectivity in the future.

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