Welcome to the latest edition of Startups Weekly, where we recap the most interesting stories from the world of startups. This week, we saw some exciting developments in the tech industry, particularly in the space of social media and biotech startups.
One of the standout stories this week was the rise of a new social media app called noplace, which quickly climbed to the number one spot on the App Store right after its launch. This success not only highlights the user demand for innovative social media platforms but also proves that it is still possible to go viral in 2024, as demonstrated by the success of French app ten ten earlier this year. These apps also showcase the value of revisiting older tech ideas, such as Myspace for noplace and walkie-talkies for ten ten.
In the realm of consumer tech, noplace CEO Tiffany Zhong’s success in securing funding from prominent investors like Alexis Ohanian’s 776 and Forerunner Ventures underscores the potential for consumer tech startups to attract venture capital backing.
On the biotech front, Granza Bio, a Y Combinator winter 2024 graduate, raised a significant $7 million seed round to advance cancer treatment delivery. This funding not only highlights the growing interest in startups focused on fighting cancer but also underscores YC’s commitment to supporting innovative biotech solutions. The involvement of Felicis, a generalist VC firm investing in biology-focused startups, further signals the mainstream appeal of biotech startups and the potential for new players to emerge in this space.
Other notable developments this week include SmartHR’s $140 million Series E funding round in Japan, Altrove’s $4 million funding to create new materials using AI models and lab automation, and Cartken’s $10 million funding for its small autonomous robots with applications beyond sidewalk delivery.
In the fund news category, Seaya Ventures announced a €300 million investment into climate tech, Forestay raised $220 million to invest in enterprise and SaaS startups across Europe and Israel, and J2 Ventures, led by U.S. military veterans, raised a $150 million second fund focusing on national security and healthcare.
Lastly, the data breach at Evolve Bank raised concerns within the fintech industry, impacting startups like Yieldstreet and Wise. This incident highlights the importance of robust cybersecurity measures in the fintech sector to protect sensitive customer information.
Overall, this week’s roundup showcases the diverse and dynamic landscape of the startup ecosystem, with exciting developments in social media, biotech, HR tech, and beyond. Stay tuned for more updates on the latest trends and innovations in the world of startups.
