Tag: funding

XRP Pushes Past BNB to Become 4th Largest Cryptocurrency; Funding Rates Surge

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Execs remain positive on long-term prospects amid VC funding downturn

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As crypto prices remain at lower levels, venture capital (VC) funding also recorded one of its worst quarters since 2021. Despite this, executives in the space remain optimistic about the industry’s long-term potential.  Crypto data platform RootData highlighted that the second quarter of 2023 delivered one of the worst performances in terms of crypto fundraising. Compared with the first quarter of 2022, where $12.62 billion were raised across 559 funding rounds, Q1 2023 saw around $2.1 billion across 292 rounds — an 83% decrease in VC investments flowing into the…

Typeface Valued at $1B Following $100M Series B Funding from Salesforce, Microsoft, Google

The funding round conducted only a few months after its public launch puts Typeface in fierce competition with similar tools. Typeface, a generative artificial intelligence (AI) content creation platform for enterprises, announced it has concluded a Series B funding round. Typeface received $100 million in funding from a round led by Salesforce Ventures, the arm of Salesforce Inc (NYSE: CRM) that provides funding, support, and mentorship to startups. The round brings Typeface’s total funding to $165 million and puts the company’s valuation at $1 billion. Other participants in the funding round…

Inflection AI Completes $1.3B Funding Round, Aims to Develop One of World’s Largest AI Models

In early 2022, Inflection AI raised $225 million in a first round of funding. Inflection AI may have just completed a $1.3 billion funding round, according to a Thursday announcement published by the company. The round was led by previous investors Microsoft, Reid Hoffman, Bill Gates, and Eric Schmidt, while Nvidia also participated in the round as a new investor. In early 2022, Inflection AI raised $225 million in the first round of funding.  So, by raising $1.3 billion, Inflection AI has now raised a total of $1.525 billion since…

Inflection AI raises $1.3B in funding led by Microsoft and NVIDIA

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On June 29, Palo Alto-based Inflection AI announced the completion of a $1.3 billion raise led by Microsoft, Reid Hoffman, Bill Gates, Eric Schmidt, and NVIDIA. The new capital will be partly allocated to building a 22,000-unit NVIDIA H100 Tensor GPU cluster, which the company claims is the largest in the world. The GPUs will be used to develop large-scale AI models. Developers wrote:  “We estimate that if we entered our cluster in the recent TOP500 list of supercomputers, it would be the 2nd and close to the top entry,…

Tech Startup Nothing Secures $96M Funding for US Expansion Ahead of Phone (2) Launch

Despite the challenging landscape of the smartphone consumer market and the economic climate, Nothing has achieved significant milestones and is poised for further growth. London-based tech startup Nothing has successfully closed its recent fundraising round with $96 million secured from both new and existing partners. The company was founded in 2020 by Carl Pei, the former co-founder of the smartphone maker OnePlus. In an announcement on Twitter, Nothing revealed that the investment round was led by the European venture capital company Highland Europe with participation from GV, EQT Ventures, and…

Bitpanda Pro Morphs to One Trading after Closing Series A Funding Round with €30 Million

One Trading intends to launch USD trading pairs, launch derivatives offerings, and announce new crypto listings including Bitcoin and Ethereum. After operating as one entity since 2019, Bitpanda and Bitpanda Pro have separated with the latter rebranding to One Trading following the successful closure of a Series A funding round with €30 million. According to the announcement, Bitpanda will retain a small stake in the new entity but will continue to operate independently in its future growth prospects. Notably, the funding round that enabled the separation was led by Peter…