Here’s a recap of recent funding developments from Australia, India, the US and beyond.
Nozomi Networks Secures $100M Series E Funding
Nozomi Networks Inc., a global leader in OT and IoT security, has announced a successful $100 million Series E funding round. The investment aims to enhance innovative cybersecurity measures and broaden global market reach, with contributions from Mitsubishi Electric and Schneider Electric.
AI Startups Garner $5.7 Billion in Funding This Year
AI startups are once again in the spotlight as they raise a staggering $5.7 billion in funding year-to-date. With significant attention from venture capital investors, AI companies are outpacing Q1 2023 figures, showcasing the sector’s resilience and growth potential.
Despite a decline in the number of funding rounds, AI startups are attracting more fresh capital, reflecting the industry’s robust growth trajectory. With the market expected to reach $305 billion in revenue this year, investors continue to pour funds into AI ventures, driving innovation and expansion.
The cumulative funding for AI startups climbs to a staggering $173.5 billion, underscoring the sector’s enduring appeal to investors. With machine learning startups leading the pack in funding, followed by AI software and analytics ventures, the AI market continues to attract significant investment globally.
Bae Juice Raises $1 Million for U.S. Expansion
Melbourne-based startup Bae Juice secures $1 million in funding for its ‘hangover prevention’ beverage as it eyes expansion into the lucrative U.S. market. Backed by Perth gaming billionaire Laurence Escalante’s family fund, the investment underscores growing interest in innovative health products.
Unstructured Raises $40M in Series B Funding
Unstructured, a provider of tools to ingest and preprocess large language models (LLMs), raised $40m in Series B funding. The company intends to use the funds to grow its team and accelerate its development of data preprocessing tooling for LLMs. Its open source library has been downloaded more than 6 million times and is used by more than 12,000 code bases.
Perfios Raises US$80M in Funding
Perfios, a Bengaluru, India-based B2B SaaS fintech company, raised US$80M in funding. Teachers’ Venture Growth, the growth investment arm of Ontario Teachers’ Pension Plan, made the investment. The company intends to use the funds to continue its international expansion and strengthen its global footprint.
Big Sur AI Raises $6.9M in Seed Funding
Big Sur AI raised $6.9M in seed funding from Lightspeed Venture Partners. The company intends to use the funds to expand operations and development efforts. Its flagship AI Sales Agent product increases online conversion rates and order sizes for merchants by offering an assisted shopping experience to their consumers.
Fermat Raises $17M in Series A Funding
Fermat, a San Francisco-based startup, raised $17M in Series A funding. The round, which brought the total amount to $30M, was led by Bain Capital Ventures. The company intends to use the funds for growth for its customers including True Classic, Jack Archer, mindbodygreen, U Beauty, and Nood.
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