Innovation

Lagrange Labs: Blockchain Computation Scaling Company Secures $13.2 Million

By Amit Chowdhry ● May 13, 2024

Blockchain computation scaling company Lagrange Labs announced a $13.2 million seed funding round led by Founders Fund. The round, which included Archetype Ventures, 1kx, Maven11, Fenbushi Capital, Volt Capital, CMT Digital, Mantle Ecosystem Fund, and various angels, will further support the development and deployment of Lagrange’s Zero-Knowledge (ZK) Coprocessing technology.

Iconic Arts Raises $3.1 Million And Opens Entertainment Studio

By Amit Chowdhry ● May 13, 2024

Iconic Arts, a new transmedia entertainment studio launched by Steven Haddadian, Alec Roth, Matthew Medney, Mo Yazdani, and Jack Sheehan, announced it raised $3.1 million in funding at a $20 million pre-seed valuation. The company also opened its doors in LA and Tokyo.

RunPod: $20 Million Raised To Help Developers Deploy Custom Full-Stack AI Applications

By Amit Chowdhry ● May 13, 2024

RunPod, a launchpad enabling developers to deploy custom full-stack AI applications, announced it raised $20 million in seed funding, co-led by Intel Capital and Dell Technologies Capital with participation from Julien Chaummond, Nat Friedman, and Adam Lewis. In connection with the funding, Mark Rostick (Vice President and Senior Managing Director at Intel Capital) will join RunPod’s board of directors.

Pascal: $8 Million Secured To Develop Climate-Friendly Heat Pumps, ACs, And Refrigerators

By Amit Chowdhry ● May 13, 2024

Pascal, a startup developing high-efficiency climate-friendly heat pumps, air conditioners, and refrigerators based on solid refrigerants, announced its novel technology and raised an $8 million seed round led by Engine Ventures, with Khosla Ventures and previous investor Blindspot Ventures participating.

ArkeaBio: $26.5 Million Raised To Develop Vaccine For Reducing Livestock Methane Emissions

By Amit Chowdhry ● May 13, 2024

ArkeaBio, a leading ag-biotech startup that is developing a vaccine to reduce livestock methane emissions, announced the closing of a $26.5 million Series A funding round. This funding round was led by current investor Breakthrough Energy Ventures (BEV), and additional investors, including The Grantham Foundation for the Protection of the Environment, AgriZeroNZ, Rabo Ventures, Overview Capital, and The51 Food & AgTech Fund.

Kindo: The Story Behind This Rapidly Growing AI Security Company

By Amit Chowdhry ● May 13, 2024

Kindo is a company that provides a way to securely adopt and centrally manage AI across your entire workforce. Pay only once for AI access from any model, use it across your organization, all in one easy-to-use interface. Supporting commercial, open source, and private AI models as well as 200+ SaaS integrations, Kindo empowers AI workforce productivity while keeping everything secure, compliant, and centrally managed for IT and Security teams. Pulse 2.0 interviewed Kindo co-founders Bryan Vann (CTO) and Ron Williams (CEO) to learn more about the company.

Electric Hydrogen: $100 Million Credit Facility Secured

By Amit Chowdhry ● May 13, 2024

Electric Hydrogen announced $100 million in corporate credit financing to support manufacturing and deployment of its 100MW electrolyzer plants, which enables the lowest cost production of green hydrogen. This funding round was led by HSBC, with participation from J.P. Morgan, Stifel Bank, and Hercules Capital.

Soaak Technologies: Optimizing Health And Wellness In A $500+ Billion Market

By Amit Chowdhry ● May 13, 2024

Soaak Technologies is a company that provides transformational health solutions that use a whole-person approach to optimize health and wellness. And the company believes that everyone should have 24/7 access to the help and support they need. Pulse 2.0 interviewed Soaak Technologies executive chairman and co-founder Henry Penix to learn more about the company.

CoverTree: $13 Million Secured To Develop Manufactured Home Insurance Solutions

By Amit Chowdhry ● May 13, 2024

CoverTree, an insurtech company specializing in manufactured home insurance solutions, announced the completion of a $13 million Series A funding round led by Portage, with participation from investors like AV8, Distributed Ventures, Detroit Venture Partners, Ludlow Ventures, Annox Capital, and others.

Sikich: Tech-Enabled Professional Services Company Raises $250 Million From Bain Capital

By Amit Chowdhry ● May 13, 2024

Sikich, a global technology-enabled professional services company, today announced it has received a minority growth investment of $250 million from Bain Capital. This funding positions Sikich to utilize Bain Capital’s resources while accelerating continued and aggressive growth, enhancing operational excellence, and solidifying its professional services leadership position in an industry undergoing rapid consolidation.

Atlan: AI-Based Governance Company Raises $105 Million At $750 Million Valuation

By Amit Chowdhry ● May 13, 2024

Atlan—a company emerging as a fast-growing force in data and AI governance—announced a $105 million Series C funding round led by GIC (Singapore’s sovereign wealth fund) and co-investor Meritech Capital, early backers of disruptors like Snowflake and Datadog. Existing investors Salesforce Ventures and PeakXV Partners also joined the round. With this funding round, Atlan is valued at $750 million, and the company has raised over $206 million.

Oshkosh To Buy AUSA

By Amit Chowdhry ● May 13, 2024

Oshkosh, a leading provider of purpose-built vehicles and equipment, announced it has entered into a definitive agreement to acquire AUSACORP S.L. (AUSA), which is a privately held international company and manufacturer of wheeled dumpers, rough terrain forklifts and telehandlers for the construction, material handling, agriculture, landscape, and specialty equipment industries. Following the deal’s closing, AUSA will become part of the Oshkosh Access segment.

TPG Rise Climate To Buy Olympus Terminals

By Amit Chowdhry ● May 13, 2024

TPG Rise Climate (a dedicated climate investing strategy of TPG’s global impact investing platform TPG Rise) has signed a deal to buy Olympus Terminals. Olympus Terminals is a leading independent storage provider for renewable fuels and refined products in Southern California. It is majority owned by an affiliated investment fund of Davidson Kempner Capital Management LP and an affiliated investment fund of Intrepid Investment Management.

Embroker: Transforming The Digital Insurance-Buying Experience

By Amit Chowdhry ● May 13, 2024

Embroker is a company that intelligently insures any business. And by pairing technology and broker expertise, Embroker helps growing businesses save time and find the best value on the right coverage. Pulse 2.0 interviewed Embroker CEO Ben Jennings to learn more about the company.

Inkbit: Additive Manufacturing Solutions Company Raises $19 Million

By Amit Chowdhry ● May 13, 2024

Advanced additive manufacturing solutions company Inkbit announced it raised $19 million in funding with participation from Future Labs Capital, GC Ventures America, iGlobe Partners, Ocado, Phoenix Venture Partners, Stratasys, Zeon Ventures, and other private investors. The company also revealed that Jason Weber, Vice President of Engineering, Compressor Systems and Services, North America, and Henry Ford III, Director at the Ford Motor Company and Trustee at the Ford Foundation, will join the Inkbit Board of Directors.

Daloopa: AI-Based Historical Data Provider Company Closes $18 Million In Funding

By Amit Chowdhry ● May 12, 2024

Daloopa, the world's first AI-powered fundamental and historical data provider, announced that it has closed its $18 million Series B round, which was led by Touring Capital and participated in by Morgan Stanley and existing investor Nexus Venture Partners.

Niobium: $5.5 Million Closed To Commercialize FHE Accelerator Chip

By Amit Chowdhry ● May 12, 2024

Leading custom silicon provider Niobium has announced the completion of a $5.5 million seed funding round. The company also revealed an expansion of its board of directors. This round also marks a major step toward future growth and development.

PAXAFE: AI-Based Cold Chain Logistics Company Closes $9 Million

By Amit Chowdhry ● May 12, 2024

PAXAFE, a company delivering AI-powered decision support for cold chain logistics, announced a $9 million Series A funding round led by Framework Venture Partners. New participants included M12 (Microsoft's Venture Fund), Rosecliff Ventures, Elevate Ventures, AngelList Quant Fund, Gaingels, Mana Ventures, and existing participants Ubiquity Ventures and Venture53.

Numeric: AI-Based Accounting Automation Company Raises $10 Million

By Amit Chowdhry ● May 12, 2024

AI-based accounting automation company Numeric announced it has raised $10 million in a seed funding round from Founders Fund, Menlo Ventures, 8VC, Long Journey, Friends & Family Capital. This funding round will be used to drive product development and hiring.

Backpack: Pediatric Mental Healthcare Company Closes $14 Million In Funding

By Amit Chowdhry ● May 12, 2024

Backpack Healthcare (formerly Youme Healthcare), an online pediatric mental healthcare provider, announced that it raised a $14 million Series A funding round led by PACE Healthcare Capital with participation from ECMC, Techstars, Collab Capital, Bridge Builders Collaborative, Portland Seed Fund, Hopelab, Rethink Education, Genius Guild, and Unlikely Collaborators and notable angel investors such as Maya Ghosn Bichara and Jeffrey Walker.

Acclinate: Digital Health Company Secures $7 Million

By Amit Chowdhry ● May 12, 2024

Health equity company Acclinate announced it raised $7 million in Series A funding, led by Cencora Ventures and with notable contributions from Labcorp and Latimer Ventures. This funding round will enable Acclinate to scale its impact in clinical trial diversity and health equity.

OPTIX: $15 Million Raised To Develop Solutions For AR And VR Products

By Amit Chowdhry ● May 12, 2024

XR tech company OPTIX announced that it had closed its oversubscribed Pre-A funding led by Primavera Venture Partners. The company’s existing investors Lanchi Ventures also joined, bringing OPTIX total equity raise to $15 million. This is OPTIX's third funding round in under than two years since the company was established in August 2022.

Privateer Raises $56.5 Million And Acquires Orbital Insight

By Amit Chowdhry ● May 11, 2024

Privateer is a company focused on improving life on Earth from space by enabling greater access to space safety, fully automated maneuvers, and the first-ever space ride-sharing platform for space imagery and data. The company was founded by CEO and Chairman Alex Fielding, Chief Scientist Dr. Moriba Jah, and renowned Apple co-founder Steve Wozniak.

Wayve: Embodied AI Automated Driving Technology Company Raises $1.05 Billion

By Amit Chowdhry ● May 11, 2024

Wayve, a market leader in Embodied AI-based autonomous driving, announced the successful closing of $1.05 billion in Series C funding. SoftBank Group led the funding round, which also included new investor NVIDIA and existing investor Microsoft. This investment will accelerate Wayve’s goal to reimagine autonomous mobility through embodied intelligence.

Rad AI: GenAI-Based Healthcare Company Raises $50 Million

By Amit Chowdhry ● May 11, 2024

Rad AI, a leader in generative AI for healthcare, announced it raised $50 million in Series B funding. The funding round was led by Khosla Ventures, with participation from WiL (World Innovation Lab) and existing investors ARTIS Ventures, OCV Partners, Kickstart Fund, Gradient Ventures (Google's AI-based fund), and others. This funding round raised the total capital to over $80 million.

Zanskar: $30 Million Raised To Accelerate Geothermal Energy For Clean Power

By Amit Chowdhry ● May 10, 2024

Leading geothermal exploration company Zanskar Geothermal & Minerals announced the closing of $30 million in new funding led by Obvious Ventures. The funding round, which includes participation by previous investors such as Munich Re Ventures, Union Square Ventures, Lowercarbon Capital, Safar Partners, First Star Ventures, and new investor Clearvision Ventures, will enable Zanskar to scale its AI-led exploration technology to develop new geothermal resources.

Special Aerospace Services Buying Space Engineering Company Quintron Systems

By Amit Chowdhry ● May 10, 2024

Godspeed Capital Management LP, a lower middle-market defense and government services, solutions, and technology-focused private equity firm, announced the acquisition of Quintron Systems by SAS, its recently launched space engineering, defense, and communications technology solutions platform.

Reveal Buying AI-Based E-Discovery And Investigations Company Onna

By Amit Chowdhry ● May 10, 2024

Reveal, a global provider of the leading AI-powered eDiscovery, review, and investigations platform, has announced the acquisition of Onna Technologies, a leading provider in helping companies manage unstructured data from cloud-based collaboration tools. Reveal is enhancing the left side of the Electronic Discovery Reference Model (EDRM) and its end-to-end e-discovery platform through this strategic acquisition of the clear industry leader in data collection, analysis, and action. From the collection to the courtroom, Reveal offers the most comprehensive spectrum of AI-powered software solutions in the legal industry and beyond.

Renegade Partners: $128 Million Fund II Revealed

By Amit Chowdhry ● May 10, 2024

San Francisco-based Renegade Partners, an early-stage venture firm investing in tech companies, announced Fund II. Renegade will invest the $128 million (mostly at Series A) in 20 companies. All of Renegade Partners’ institutional investors, which include pensions, foundations, and an Ivy League endowment, have matched or increased their allocations for Fund II, bringing the total AUM to $228 million.

inHEART: Medical Device Company Raises $11 Million

By Amit Chowdhry ● May 9, 2024

inHEART, a medical device company offering the world's most advanced and AI-driven digital twin of the heart announced it has raised $11 million to drive commercial growth of its therapeutic software solution for cardiac ablation procedures and advance the development of its predictive cardiac models for heart failure, sudden cardiac death, and cardio-embolic stroke.