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📢 Top Venture Capital News

Reed Jobs, son of Steve Jobs, takes the wraps off a $200 million venture fund that will back new cancer treatments: Reed Jobs, son of Apple co-founder Steve Jobs, is stepping into the limelight with his new venture capital firm, Yosemite. The firm, which has already closed its debut fund with $200 million, aims to invest in innovative cancer treatments. A spin-off from Emerson Collective, the philanthropic organization founded by his mother, Reed plans to continue his work in accelerating cancer research under this new brand. Yosemite will also maintain a donor-advised fund, seeding innovation and participating in its commercialization and financial rewards. More Here

NATO announces $1B fund to back startups supporting ‘safety, freedom and human empowerment’: NATO has officially launched its first Innovation Fund, committing €1 billion to back startups developing strategic technologies in defense and security. The fund will focus on areas such as AI, biotechnology, quantum computing, space technology, and more. Modeled after In-Q-Tel in the U.S, the fund aims to make strategic investments, primarily in early-stage startups. This move marks a shift in NATO's focus towards businesses that could indirectly impact the security postures of its member countries. More Here

US-based VC Firm Goodwater Capital raises $1b for two new funds: Goodwater Capital, a venture capital firm with a strong presence in Asia, recently announced the successful raising of $1 billion for its two new funds, Goodwater Capital V and Goodwater Infinity III. These funds will continue to support global early- and growth-stage consumer tech startups, bringing Goodwater's total assets under management to $3.3 billion. With investments in over 25 countries and 140 companies, including tech giants like Facebook, Coupang, and Kakao, Goodwater has been a significant player in the tech startup ecosystem. More Here

📢 Top Startups News

ConfiAbogado wants to put a tech touch on Latin America’s legal system: In a bid to democratize legal services across Latin America, Mexico City-based startup ConfiAbogado has secured $1.65 million in seed funding. Co-founded by Emiliano and Julián Ruiz, the platform leverages technology to connect clients with a network of validated lawyers, creating efficient legal strategies and documents within 20 minutes. Since its inception in 2020, ConfiAbogado has seen a 10x growth in revenue and serves over 250 new clients each month. The recent funding will aid in expanding the company's reach and developing new AI tools, with a goal to double the current 8% attorney hiring rate in Latin America over the next seven years. More Here

Vanguard cuts Indian ride-hailing giant Ola’s valuation by 52%: In a recent development, U.S. index fund pioneer Vanguard has reduced the value of its holdings in Indian ride-hailing startup Ola by over 50%. This markdown implies a decrease in Ola's valuation to approximately $3.5 billion, a significant drop from $7.3 billion at the end of 2021. Meanwhile, Ola co-founder Bhavish Aggarwal is venturing into AI and semiconductor design with a new startup. This comes amidst a trend of high-profile Indian startups facing valuation reductions, shedding light on the impact of global market conditions on the Indian startup ecosystem. More Here

As spend management space heats up, Brex and Rho turn to AI startups to help power new products: The spend management space is heating up, with Brex and Rho both announcing AI-powered Accounts Payable offerings. Brex's Payables, developed in partnership with machine learning companies like Scale AI and Photon, aims to extract accurate information from invoices, while Rho's solution leverages generative AI technology for invoice and bill processing. Both companies expect these new offerings to drive revenue growth, with Brex co-CEO Henrique Dubugras noting that some of the spend will be on their Brex card, a key revenue source. More Here

Not all early-stage AI startups are created equal: The AI sector is heating up, with both startups and legacy players actively participating. However, the complexity of the ecosystem, potential government regulation, and the involvement of deep-pocketed entities like Microsoft, Google, and OpenAI make it a challenging landscape for founders and investors. As Chris Wake, founder and managing partner at Atypical Ventures, points out, building on existing large language models may not necessarily lead to transformative businesses. The key for investors is to identify startups that aren't just riding the hype but have the potential to grow into substantial companies with a competitive edge. More Here

Steg puts deep learning on the job in a clever evolution of watermarking: Steg. AI is revolutionizing digital asset protection with its deep learning approach to watermarking. Their innovative solution embeds nearly invisible watermarks that withstand common countermeasures like resizing and resaving, ensuring creators can prove their ownership in an era where IP theft is rampant. The technology, likened to an invisible and largely immutable QR code, customizes the watermark to the image, making it robust yet unobtrusive. This breakthrough, backed by years of research and a recent $5 million seed round. More Here

📢 Top Startup’s Fundraising News

Topline Pro grabs $12M in new capital to help home service businesses get discovered: In the rapidly growing home services sector, Topline Pro is making waves with its AI-infused platform, designed to help small businesses manage and scale their operations. In 2022, Topline Pro raised $5 million and generated over $25 million in job requests across more than 1,000 monthly subscriber businesses. Fast forward a year, the company has generated over $180 million in business and nearly doubled its employee base. More Here

SG-Founded e-SIM Marketplace Airalo nets $60m in Series B Funding: Airalo, the Singapore-founded e-SIM marketplace, has successfully raised $60 million in a Series B funding round, backed by Peak XV Partners’ Surge, e& Capital, and other investors. This global platform, which provides lower-cost digital SIM packages for international travelers, plans to use the fresh capital to expand its user community and global team. With a current coverage spanning over 200 countries and a team of 250 professionals from 44 countries, Airalo is poised to build the gateway to instant connectivity worldwide. More Here

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Interesting Tweet On Getting the First 1000 Customers 𓅪

Every early founders always wonder how to acquire the first 1000 customers and this is really hard. You have to try out multiple channels and decide which one is best for you! So here is the interesting tweet. You can check out how the multiple brands used different strategies to acquire the first 1000 customers.

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