Wednesday, 21 February 2024

What those really big seed rounds tell us

Plus, $102M for an AI chip startup

February 21, 2024

Hi, Agen. Seed funding ain’t what it used to be. With Series A rounds getting harder to come by, seed-stage startups are finding that it can take much longer to get to that next round — and that their seed round might be much larger than it used to be. Plus, a startup that makes hardware for both generative AI and autonomous vehicle applications gets $102 million in fresh funding.

🌱 What those really big seed rounds tell us

Seed rounds of $5 million or more, once virtually unheard of, have become more common in recent years. Last year alone Crunchbase identified more than 1,500 angel, seed or pre-seed financings that met or exceeded this level.

Related Crunchbase Pro list: Seed Rounds Of $5 Million Or More

🦄 Meet January’s 11 new unicorns

Eleven companies joined The Crunchbase Unicorn Board in January — the first double-digit monthly count in over a year — with more than half hailing from Asia.

See also: The Crunchbase Unicorn Board

🤖 Generative AI chip startup gets $102M in fresh funding

Recogni raised $102 million in a Series C round co-led by Celesta Capital and GreatPoint Ventures. The San Jose, California-based startup is developing its AI inference chip for both the generative AI and automotive industries.

🏅 Lambda leads massive week for megadeals

Ten U.S.-based startups each raised $100 million or more last week, an eerie throwback to 2021. Maybe startup investing is back, or maybe investors were just really excited about this crop of companies, which includes AI, biotech, music and advanced materials startups.

See also: The Crunchbase Megadeals Board

🥑 What these food tech investors are hungry for in 2024

Samara Hernandez and Grisel Hernandez of Chingona Ventures say they’re eager for more innovation and efficiency and improved dining experiences as they look to invest in restaurant and food tech startups this year.

📈 5 areas where seed investors are active

From construction tech to AI health diagnostics to spacetech, our data shows seed-stage investors have been funding young startups across an array of fascinating industries.

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Recent Investments

GlobalFoundries

$1.5B / Grant

GlobalFoundries is a full-service semiconductor foundry that manufactures integrated circuits in high volume.

Categories:

Electronics • Manufacturing • Semiconductor

Investors:

U.S. Department of Commerce (Lead)

Pure EV

660M INR / Venture Round

Pure EV is a motor vehicle company that develops e-mobility and energy storage systems for the EV industry.

Categories:

Automotive • Battery • Electric Vehicle

Founders:

Nishanth Dongari, Rohit Vadera

Investors:

Bennett Coleman and Co Ltd (Lead), Hindustan Media Venture (Lead), Ushodaya Enterprises Private Limited

Recogni

Unknown / Debt Financing

Recogni offers vision-based perception processing for autonomous driving platforms with high compute, low latency, and low power usage.

Categories:

Artificial Intelligence (AI) • Autonomous Vehicles • Semiconductor • Software

Founders:

Ashwini Choudhary, Eugene Feinberg, Gilles Backhus, R.K. Anand, Valerie Chan

Investors:

HSBC Innovation Banking (Lead)

More Fundings

Company Amount / Round Lead Investor
Recogni $102M / Series C Celesta Capital
Beoble $7.0M / Seed Round -
Antler Unknown / Venture Round KWAP
VVDN Technologies Unknown / Venture Round Applied Ventures
All Recent Funding Activity

Recent Acquisitions

SadaPay

Pending acquisition by Papara for Unknown

More Acquisitions

Company Acquired By Amount
Bustanica Emirates Flight Catering Unknown
All Recent Acquisition Activity

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