Luigi Pavia’s Post

Billionaire Elon Musk’s AI startup XAI is on the brink of securing a significant funding round, with reports suggesting a valuation of $18 billion. This infusion of capital is poised to fuel XAI’s expansion, positioning it to compete fiercely with industry heavyweights like OpenAI and Anthropic. According to Bloomberg, the funding, which could amount to $6 billion, underscores the immense potential investors see in Musk’s vision for AI. Notably, venture capital titan Sequoia Capital is among the key players backing this round. Stay tuned for more updates on this game-changing development! #ElonMusk #AI #startup #technology #investors #News #indianstartupnews

IMPORTANT NEWS: AI.FUND - Bridging the AI Funding Gap from Europe's Heart 🚀 We are thrilled to unveil the first closing of AI.FUND, a visionary venture capital initiative rooted in Germany's innovation hub. Our ambition? To bridge the significant AI funding gap in Europe, with a keen focus on Germany, Europe, and Israel. AI.FUND stands as a beacon for groundbreaking AI technologies and the brilliant minds driving industry transformation. Why AI and Why Now? Despite Europe's home to over 6,000 AI startups, the sector faces a stark underfunding challenge. AI.FUND aims to counter this, offering not just financial returns but also qualified access to AI innovations. Based in Hamburg, we invest sector-agnostically, targeting a fund volume of EUR 35 to 50 million over a ten-year term to foster business models rooted in applied AI. Our Mission extends beyond mere capital. We are building a community where innovation meets execution. With over 4,500 AI startups already in our database, our extensive AI network and specialised expertise position us uniquely to identify and nurture the next generation of AI champions. 👏 Gratitude to Our Partners: Petra Vorsteher, Ragnar Kruse, Dr. John Lange, Ingo Hoffmann, Dr. Hauke Hansen, Fabian J. G. Westerheide - Your invaluable expertise and experience enrich our collective journey, driving us towards a future where Europe leads in digital innovation. As we embark on this journey, we call upon startups, investors, and corporate partners to join this transformative movement. Together, let's unlock the transformative power of AI, filling the funding void and shaping a future of sustainable innovation. ✅ Ready to be part of the change? Read more about our vision and journey https://lnkd.in/eG7Ea5ya #AIFUND #AIRevolution #EuropeanTech #DigitalTransformation #SustainableInnovation #VentureCapital #ArtificialIntelligence #EuropeanStartups #Innovation #InvestInEurope #VC #firstclosing

🇩🇪 🗞 Last week, Doreen Huber, Partner at EQT Ventures spoke to Frankfurter Allgemeine Zeitung about the current shifts and challenges in startup financing, emphasizing the gradual adjustment of valuations and the heightened enthusiasm for AI startups in the venture capital landscape. "The decline in valuations is a gradual process," says Doreen, challenging the opinion held by some that start-up financing has now bottomed out and that things will pick up again in the foreseeable future. On the excitement around AI within the VC sphere, Doreen comments: "The current enthusiasm of investors for the field of artificial intelligence has reached a level that is reminiscent of the earlier hype in areas such as cryptocurrencies or Web3. Companies that can demonstrate experience and are working on AI technologies are receiving significant premiums on their company valuations." Link below 🔗

Europe’s ‘soonicorns': Who will reach a €1B valuation in 2024? It's always important to stay updated on new and upcoming companies that have the potential to become unicorns. While we tend to focus on the popular unicorns, we often forget about the new companies that are creating interesting technologies like poolside, SkyCell AG ,Isar Aerospace, Pasqal and DNA Script That's why I wanted to share this article with you, which I came across on Triple S Ventures page. Triple S Venture is a pre-seed and seed-stage focused fund that invests in tech startups led by outstanding entrepreneurs. So, take a look and see which companies have the potential to reach a €1B valuation in 2024. Who knows, you might just discover the next big thing! #startups #venturecapital #techinvesting #soonicorns #ai #biotechnology

French politics shake the tech landscape 🇫🇷 while... Mistral AI: Paris-based AI startup Mistral has secured €600m in new funding at a €5.8bn valuation. The round was co-led by DST Global and General Catalyst. ZELIQ: Paris-based sales engagement platform Zeliq raised $10m in seed funding. The round was led by Exor Ventures with participation from Resonance. kelvin: Paris-based kelvin, specializing in home energy renovation software, raised €5m. The round was led by Racine, with Seedcamp, Kima Ventures, and Motier Ventures also participating. Macron's tenure saw significant growth in the tech sector with increased funding and support for startups. However, the RN’s policies focus on digital sovereignty and protectionism, potentially impacting global talent and investment flows. 💥 There's a debate on whether the RN's approach can maintain the current momentum and ambition in the French and European tech landscape. Additionally, other countries like Germany and Austria have seen similar election results, indicating that this might not only be the case in France but across Europe, which has already been leaning towards a protectionist stance. #FrenchTech #Startups #AI #Investment #Politics #Innovation #Mistral #LaFrenchTech

February 2024 has been a standout month for AI startups, with venture funding defying expectations of a slowdown. According to Crunchbase, the month witnessed over $2.6 billion invested in AI, including several rounds exceeding $100 million. This surge is headlined by Moonshot AI’s colossal $1 billion round, underscoring the sector’s vitality. Notable raises include Lambda’s $320 million Series C, valuing the company at $1.5 billion, and Sierra’s $110 million round, pushing its valuation near $1 billion. Recogni also joined the fray with a $102 million Series C, showcasing the industry’s robust appetite for innovation. These investments reflect a broader trend of resilience and growth in the AI space, with companies like Scale AI and Perplexity AI rumored to be raising at significant valuations. The data paints a picture of an industry on the cusp of transformative growth, driven by visionary entrepreneurs and investors committed to shaping the future of technology. #AIInvestment #VentureCapital #Innovation #StartupGrowth #TechnologyTrends

Today's Weekly Snippet truly highlights the "AI Gold Rush": 💸 According to Statista, AI-related start-ups are attracting over $24 billion in funding per year. 📈 Even with overall start-up funding decreasing in the past few years, the AI segment has proven its persistence with steady funding and increasing it's share in the overall funding. #ai #startup #investment #venturecapital #futureofai

I use Perplexity every day, mostly for scientific paper search, and I find it to be the best so far... And I read the papers it references, some of them exhaustively to verify if it is bringing back what I am asking. It is proving quite adept at "needle in the haystack" searches. #ai Perplexity "Bessemer Venture Partners is in talks to lead a $250 million investment in Perplexity, a developer of an artificial intelligence-powered search engine, at a $3 billion valuation, according to a person familiar with the matter. The new valuation would be triple what the San Francisco-based startup was valued at earlier this year. The new investment, which is Perplexity’s fourth funding round since March 2023, shows venture capital investors are still willing to pay high prices for generative AI startups, even as the high costs of developing the technology has forced many companies to sell themselves or consider doing so." https://lnkd.in/gjy_iYYW

Magic has raised a total of $465 million so far, mostly from US investors obviously. Meet Eric Steinberger and Sebastian De Ro, the brains behind the AI startup. Magic’s AI can write its own code, bringing us closer to Artificial General Intelligence (AGI). While the Seed ($5M) & Series A ($23M) had a small participation from European investors. In the Series B ($117M) & Series C ($320M), US investors dominate. 💸 ROI VENTURES is proud to have been one of Magic's first backers. It is worth noting that all 4 funding rounds took place within 2 years, with a team of 23 people. 📈 Despite the lack of growth funding in Europe, deeptech AI companies like Magic are relying on partnerships with big cloud providers like Google. Another example of this trend is Mistral, which has also secured backing from US investors and collaborates with both Microsoft and Google. It is simply not possible to build a foundational AI model without huge funding, partnerships and access to talent. Aleph Alpha, a German promising AI company, recently stepped back from the race due to high costs and regulatory uncertainty. 😬 But there are also many startups working on solutions at the application layer. And we need to find ways to fund their growth in Europe. The positive side? European leaders are increasingly recognizing the importance of venture capital. The recent appointment of a Startup Commissioner offer hope for future European tech growth. Lastly, I’m grateful to see that Magic’s story and the broader discussion about Europe’s innovation gap made it to Die Presse am Sonntag by Susanne Bickel & David Freudenthaler. 🙌 #innovation #startups #venturecapital

Neysa, a rising tech startup, has secured $20 million in its latest funding round to accelerate the adoption of generative AI technology. This investment will be directed towards enhancing Neysa’s AI capabilities, improving user experience, and expanding its product offerings. With this funding, Neysa is set to become a leader in implementing cutting-edge AI solutions, helping businesses innovate through automation and creativity. The round saw participation from leading venture capital firms, showcasing strong confidence in Neysa’s vision and future. Join us : www.seedicon.com #NeysaAI #GenerativeAI #StartupFunding #TechInnovation #AIAdoption #Automation #AIinBusiness #VCFunding #AIRevolution #TechStartups #Innovation #FutureOfWork #AITransformation #BusinessGrowth #FundingNews #StartupSuccess #ArtificialIntelligence #TechInvestment #AILeaders #InnovationDriven #NextGenTech