This week’s funding landscape confirmed the age-old adage: “Money attracts money.” Several startups announced new rounds of funding, with familiar names launching new ventures just months after their previous ones.
Salva Health emerged victorious in TechCrunch Disrupt 2024’s Startup Battlefield competition, promising to lower breast cancer mortality rates with an affordable screening device. Four other finalists vied for the top spot.
Swiggy, India’s largest food delivery and quick-commerce scale-up, is set to go public at a $11.3 billion value, less than half that of its rival Zomato. Nasdaq CEO Adena Friedman notes that while startup IPOs haven’t gained momentum yet, she expects them to return in 2025.
A petition calling for a new legal form for European startups has gained traction, aiming to foster Pan-European tech champions. However, many hurdles remain. Generative AI unicorn ElevenLabs hired the team behind open source read-it-later app Omnivore, focusing on its own reader app.
Notable fundraises this week included Sierra, valued at $4.5 billion after raising $175 million; French cybersecurity startup Filigran securing a $35 million Series B round; and biotech startup Archon Biosciences emerging from stealth with $20 million in seed funding.
Wilde bets actress Olivia Wilde has launched a venture firm called Proximity Ventures, investing in consumer and enterprise sectors. African venture capital firm Janngo Capital closed its second fund at €73 million, while Crosscut’s sixth fund will invest in “frontier tech” with a $100 million budget.
Aggregating data adds nuance to funding stories: of the 240 mega-rounds into U.S. startups this year, 87 went to biotech and healthcare, placing the category ahead of pure AI investments.
Source: https://techcrunch.com/2024/11/01/new-funding-rounds-confirm-that-money-attracts-money