VC Daily Digest - 25/09/2023

📢 Major News

• The Lack Of Venture Capital Funding For Women

• Building an equitable cap table puts more tools in a startup’s toolbox

• Featured Article: Why B2B Platforms Struggle to Succeed?

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📢 Venture Capital Highlights

Building an equitable cap table puts more tools in a startup’s toolbox: The person a founder chooses to back their company is important beyond the capital these investors provide. Each backer brings specific experiences and networks that can help founders in various ways. Getting the right people involved in a company early is instrumental in helping it grow. For some, an equitable cap table means specifically seeking out investors who are from nontraditional or underrepresented backgrounds. For others, it means being intentional about picking investors with different experiences or résumés. More Here

The Lack Of Venture Capital Funding For Women: Despite the progress made by women in business over the past several decades, women entrepreneurs still have a more challenging time raising capital than their male counterparts. According to PitchBook, in 2022, companies founded solely by women garnered just 2.1% of the total capital invested in venture-backed startups in the US. More Here

Trifecta Capital raises 3rd venture debt fund: Trifecta Capital has hit the final close of its third debt fund at around $213 million, Rahul Khanna, co-founder and managing partner, Trifecta, said. The third fund was oversubscribed, surpassing its initial target. Investors include large global financial institutions, domestic conglomerates, banks, insurers, development financial institutions, public sector entities, and family offices. More Here

TU announces Hurricane Ventures for student, faculty, staff alumni startups: The University of Tulsa’s Center for Innovation & Entrepreneurship announced the launch of Hurricane Ventures, a funding catalyst for TU student, faculty, staff and alumni startups. The initiative, in partnership with 46 Venture Capital (46VC). “Leveraging the resources and knowledge network of the university, Hurricane Ventures is seeding early-stage companies to drive real impact across the economy and further the mission of TU’s Collins College of Business. More Here

Underscore VC’s third fund in the works for early-stage startups: On the heels of Underscore VC’s largest community event of the year,Core Summit, the firm has some funding news on the horizon. The Boston venture capital firm, which focuses on early-stage startups, has indicated it's targeting $50 million for a third fund. The fund was identified as “Underscore.VC Fund III, L.P.” in a filing with the U.S. Securities and Exchange Commission on Monday. More Here

📢 Massive Fundings Updates

Correcto grabs $7M to build out its ‘Grammarly for Spanish’: The generative AI boom has put a spring in the step of Correcto, a Madrid-based language writing tool startup focused on Spanish speakers that’s today announcing $7 million in seed funding. The round is led by London-based Octopus Ventures, with Carya Venture Partners and River Park Ventures also contributing. More Here

Corti, an AI ‘co-pilot’ for healthcare clinicians, raises $60M: A Copenhagen startup called Corti has raised $60 million to expand its contribution to the field: an AI assistant designed to support healthcare clinicians with patient assessments in real time. Prosus Ventures and Atomico are leading the Series B investment, with previous backers Eurazeo, EIFO and Chr. Augustinus Fabrikker also participating. More Here

Amazon vets raise $12.5M for Griptape, a Seattle startup that helps companies build AI apps: A pair of Amazon alum raised $12.5 million for a new startup that helps enterprises build and deploy secure artificial intelligence applications, preventing company data from slipping through the cracks. Founded earlier this year, Griptape is developing an open-source Python framework and cloud platform. Its tools give companies a way to safely build large language models, including conversational, copilot, and autonomous agents. More Here

AI startup Gizmo raises $3.5M by using gamified quizzes and flashcards to make learning fun: Gizmo, a generative AI learning startup that uses gamified quizzes to engage learners, today announced $3.5 million in seed funding from NFX, Ada Ventures, and Capital T. The company will use the funding to scale its platform globally, hire more engineers and roll out new features. More Here

📬 Featured: Today’s Featured Article

Why B2B Platforms Struggle to Succeed?

While exploring the B2B SaaS Market, I came across this interesting article on why B2B platforms struggle to succeed. They have mentioned lot of case studies and example on struggling B2B platform.

If you are B2B sector investors or founder building something. It’s interesting to read. Have A Look 👇

📢 The Latest In Emerging Tech: AI

What the ozone layer might teach us about holes in data: With all the AI hearings happening in Congress and around the world, it can be tricky keeping track of all the discussions about AI’s potential risks and rewards — let alone how to regulate it. However, in a hearing last week with British Parliament, a former rocket scientist gave a memorable metaphor that helps illustrate the importance of quality data in the debate about generative AI. More Here

Inside the startup market trying to capitalize on AI security: As Washington and Silicon Valley rush to mitigate AI's security risks, a new crop of entrepreneurs and investors are clamoring to monetize the latest emerging security category. AI security startups are just the latest cohort trying to capitalize on the craze around generative AI and large-language models. More Here

The threat of wildfires is rising. So are new artificial intelligence solutions to fight them: Wildfires fueled by climate change have ravaged communities from Maui to the Mediterranean this summer, killing many people, exhausting firefighters and fueling demand for new solutions. Enter artificial intelligence. Firefighters and startups are using AI-enabled cameras to scan the horizon for signs of smoke. A German company is building a constellation of satellites to detect fires from space. And Microsoft is using AI models to predict where the next blaze could be sparked. More Here

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📢 Startups Snap: The Latest Buzz

India’s PhonePe launches app store with zero fee in challenge to Google: PhonePe launched the Indus AppStore Developer Platform on Saturday, promising zero platform fee and no commission on in-app purchases as the Walmart-backed fintech races to win Android developers in Google’s largest market. The Bengaluru-headquartered startup, which has amassed over 450 million registered users on its eponymous payments app, said developers can start registering and uploading their apps on the ‘made-in-India’ app store starting today. More Here

Yes, you have to update your Apple devices again, because spyware is bad: Apple on Thursday released urgent security updates for iPhones, iPads, Macs, Apple Watch, and Safari users to patch against three vulnerabilities that Apple says are being actively exploited. The three vulnerabilities include a flaw in WebKit, the browser engine that powers Safari; a certificate validation bug that can allow a malicious app to run on an affected device; and a third bug that can be used to get broader access to the kernel, the core of the operating system. More Here

How the fall of the 'King of Crypto' cost one British man millions: With the so-called "King of Crypto" about to go on trial for multiple fraud charges, one British man tells how the collapse of Sam Bankman-Fried's company lost him a fortune. Until the final collapse, Sunil Kavuri hoped that Sam Bankman-Fried could turn things around. The King of Crypto's empire was faltering but while others panicked, Kavuri remained calm. Experience in trading for banks and investing his money in crypto made him hardened to market dramas. More Here

🗞️ Today’s Must Read On: Startup, Tech & VC

• Why it's Better To Raise Less Capital In The First Round? Read More (Startups)

• Hidden Clauses In The Term Sheet that Every Founder Should Know Read More (Startup & Venture Capital)

• ​How To Work Hard By Paul Graham? Read More (Startups)

• Does an AI Premium Exist in the Fundraising Market? Read More (Technology)

• Startups Fail All The Time, But Many Could Fail Better By Thinking Beyond the VCs and Founders Read Here (Startup)

What Do You Think Of Today's Newsletter? 🤓

• ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ Amazing piece

• ⭐️ ⭐️ ⭐️ ⭐️ This was really good

• ⭐️ ⭐️ ⭐️ It was okay

• ⭐️ ⭐️ Not your best

• ⭐️ Waste of time

✍️Written By Sahil R | Venture Crew Team

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