This week in the world of startups brought a mix of exciting fundraising news and unfortunate exits. While tech IPOs were prominent in India, U.S. startups focused on helping data centers reduce their environmental impact. Let’s dive into some of the most interesting startup stories and fundraises from the week.
Table Space, an Indian startup offering managed workspaces, is gearing up for an IPO next year with a valuation of $2.5 billion. This highlights the growing trend of tech IPOs in the Indian market compared to the U.S. Cybersecurity unicorn Cyera made waves with its acquisition of Trail Security for $162 million in cash and shares, while also eyeing a funding round of $200 million at a valuation nearing $3 billion.
Analytics software company Amplitude acquired Command AI for over $45 million, showcasing the ongoing consolidation in the tech industry. On the flip side, fintech startup CapWay, part of Y Combinator’s summer 2020 cohort, unfortunately faced closure despite its mission to provide financial services to underserved communities.
In the fundraising arena, X-Energy, a nuclear tech startup, secured a $500 million Series C-1 round led by Amazon’s Climate Pledge Fund. Lightmatter raised $400 million in a Series D round to leverage photonic chips for energy-efficient data centers and AI models. Xscape Photonics also raised $57 million for similar endeavors.
Japanese startup Ookuma Diamond Device (ODD) raised $27 million to develop a diamond semiconductor manufacturing facility for radioactive debris removal. Fable, a Toronto-based startup focusing on accessibility tools for individuals with disabilities, raised $25 million for product expansion. OroraTech, a German startup using satellites to detect wildfires, raised $25 million to expand its market coverage.
On the VC and fund news front, 20VC, a venture firm inspired by Harry Stebbings’ podcast series, closed a new $400 million fund to support European startups. Buckley Ventures is seeking to raise a fourth $250 million fund, while Node.vc closed its €71 million first fund, focusing on the Nordics and Baltics.
In a somber note, the startup world mourned the loss of former TechCrunch colleague Steve O’Hear, who passed away at the age of 49. Founders expressed gratitude for his support over the years, and his legacy will live on through his communications consultancy O’Hear & Co.
Overall, this week showcased the dynamic nature of the startup ecosystem, with a mix of successes, closures, and heartfelt remembrances. Investors are placing bets on a range of innovations, from data center efficiency to accessibility tools, highlighting the diverse opportunities present in the startup landscape.
