AI Leads, But Advanced Materials & Deep Tech Are Rising

AI remains a hot investment area, and the enterprise software is booming due to AI. Meanwhile, Advanced Materials is quietly on the rise.


Oct 16, 2024
leeron

Hi, I’m Leeron. Welcome, and thanks for subscribing to our newsletter focused on early-stage tech startup funding. I hope these data insights bring you real value.

The highest funding are from:

  • Swiss startup sallea secured $2.6M pre-seed to develop edible scaffolds for cruelty-free meat and fish.
  • Node.vc raised €71M seed to support early-stage Nordic tech startups, backed by Saminvest and Cornerstone.
  • Xscape Photonics raised $44M series A from Cisco, Nvidia, and IAG to advance silicon photonics for data centers.
  • Industry Trends

    The funded companies are mainly in the following industries:

    Industry
    Deals
    Amount
    Companies
    AI & Software
    16
    120.5
    Albatross (3.2/Series Unk) - AI-driven eCommerce personalization;
    Alchemyst AI (0.3/Pre-Seed) - Gen-AI digital employees;
    Beacon AI (15/Series A) - AI flight safety;
    Data Science Wizards (1.4/Seed) - Deeptech AI platforms;
    Early (5/Seed) - AI code quality platform;
    Gladia (16/Series A) - Multilingual transcription engine;
    Keep (2.5/Pre-Seed) - AI alert management;
    Noetica AI (22/Series A) - AI deal benchmarking;
    Third Dimension AI (7/Seed) - 3D generative AI;
    Vendorvue (1.5/Seed) - AI vendor compliance;
    Vultron (4.85/Seed) - AI proposal development;
    ApertureData (8.25/Seed) - Multimodal AI database;
    OpenGradient (8.5/Seed) - Decentralized AI infrastructure;
    RadiantGraph (11/Series A) - AI healthcare engagement;
    Numeric (28/Series A) - Financial data platform;
    Concourse (4.7/Seed) - AI financial automation
    Enterprise Software
    12
    127.45
    Autone (17/Series A) - Inventory management platform;
    DeNexus (17.5/Series A) - Cyber risk management;
    MELIUS Cyber (0.6/Unknown) - Cyber risk detection;
    Omnea (25/Series A) - AI procurement platform;
    Stema (1.7/Seed) - Career platform engineers;
    Tablesprint (1/Seed) - No-code platform;
    Truthset (5/Series A) - Data validation service;
    Ubeya (10/Series A) - Workforce management platform;
    ForceMetrics (22/Unknown) - Public safety platform;
    Unify (19/Series A) - Go-to-market platform;
    CYRISMA (7/Series A) - Risk management platform;
    Monogoto (27/Series A) - Connectivity platform
    Fintech & Insurance
    9
    144.6
    COVU (12.5/Series A) - AI insurance services;
    Diesta (3.8/Seed) - Insurance payment operations;
    Fission (1.6/Pre-seed) - DeFi venture capital;
    FlexFactor (16.8/Series A) - Decline recovery solutions;
    INSHUR (19/Unknown) - Embedded insurance provider;
    Surfin (12.5/Series A) - Financial services;
    Trustii (2.0/Seed) - Risk management software;
    Node.vc (75.3/Seed) - Venture capital firm;
    Bitlayer (9/Series A) - Bitcoin Layer 2

    Active Investors

    Among all active investment firms, the following VCs each had investments in two companies reported this week:

    VC
    Deals
    Portfolio Companies
    LocalGlobe
    2
    clock.bio (5.3/Seed) - Decoding human rejuvenation biology with,
    Concretene (5.3/Seed) - Decoding human rejuvenation biology with
    Costanoa Ventures
    2
    Beacon AI (15.0/Series A) - AI assistance for flight safety,
    ForceMetrics (15.0/Series A) - AI assistance for flight safety
    Bpifrance
    2
    Storio (5.0/Seed) - Smart energy storage for commercial,
    Constellation (5.0/Seed) - Smart energy storage for commercial
    Golden Ventures
    2
    Deck (4.5/Seed) - API for tracking energy consumption,
    CYRISMA (4.5/Seed) - API for tracking energy consumption
    Speedinvest
    2
    Autone (17.0/Series A) - AI-powered inventory management platform,
    Nomos (17.0/Series A) - AI-powered inventory management platform
    a16z
    2
    Arda Therapeutics (43.0/Series A) - Targeted cell depletion therapies,
    Concourse (43.0/Series A) - Targeted cell depletion therapies for

    Accel, YC, Lightspeed, and General Catalyst each made one investment in AI and automation.

    Emerging Sectors

    Advanced Materials & Deep Tech (3 deals): This sector highlights innovation in core technologies, showing strong investor confidence in deep tech hardware.

  • Lidwave (10/Seed) - LiDAR-on-chip sensors;
  • Xscape Photonics (44/Series A) - Silicon photonics solutions;
  • Concretene (3.7/Seed) - Graphene-enhanced concrete
  • That’s it for this week’s journey through the funding landscape. If you’re eyeing AI-powered cat bowls or thinking that online payments just aren’t painless enough yet, you’re not alone.

    For more detailed records, visit Seedletter. If you think this email could be helpful to your friends, please feel free to forward it to them.