Artificial intelligence startup Symbolica, which develops foundation models to compete with ChatGPT creator OpenAI, announced a $31 million series A funding round led by Khosla Ventures on Tuesday. General Catalyst, Abstract Ventures and Buckley Ventures also participated in the round, the company said. Symbolica has created a framework that will enable it to develop alternatives to the transformer deep learning architecture, said Symbolica CEO George Morgan, who formerly worked at Tesla on...
Chip startup Rivos said on Tuesday it raised $250 million in a funding round that will enable it to manufacture its first server chip geared for artificial intelligence. Nvidia's combination of chips and CUDA software dominates the market for AI-related computing, and Nvidia gobbled up more than 80% market share of AI chips in 2023. But a host of startups and chip giants have started to launch competing products, such as Intel's Gaudi 3 and Meta's inference chip - both unveiled last week. Rivos...
Zypp Electric, a startup that manages electric vehicle fleets for delivery firms and bike taxi operators, is in talks to raise a fresh round of funding of $40 million led by Silicon Valley-based fund Tribe Capital, two people in the know said.The Gurugram-based startup is likely to be valued at $300-350 million, these people said. This is almost double from its last valuation of around $165-170 million, ascribed after its February 2023 fundraise of $25 million in a mix of debt and equity led by...
Neysa, a Mumbai-based artificial intelligence (AI) cloud and platform-as-a-service startup, has raised $20 million (about Rs 166 crore) in a funding round led by Matrix Partners India, Nexus Venture Partners and NTTVC.The company, the second venture of data centre services provider Netmagic founder Sharad Sanghi, said it will use the funds for expanding infrastructure required for strengthening its research and development team, and for sales and marketing.“When it comes to infrastructure and...
The White House reportedly wants U.S. artificial intelligence (AI) companies to form partnerships in the United Arab Emirates (UAE). By launching operations in the UAE, the U.S. could build an alliance that would give it an advantage over China in the race to develop new AI projects, sources told the Financial Times (FT) in a […]
Pune-based agritech firm Ecozen on Friday said it has raised $30 million (about Rs 250 crore) in a mix of equity and debt from existing investors including US-based global investment manager Nuveen.The debt support in the deal was fulfilled by InCred Credit Fund and U.S. International Development Finance Corporation through Ecozen’s exclusive advisor Setuka Partners, said a company statement.Ecozen said it has grown fivefold over the past two years, with a threefold increase in profit. The maker...
Medulance, an emergency healthcare services startup, has raised $3 million in Series A funding, led by Alkemi Growth Capital.The funding round also saw participation from investors such as Dexter Capital, Boat founder Aman Gupta, and Emcure Pharmaceuticals’ executive director Namita Thapar. The New Delhi-based startup has raised fresh capital after running as a profitable bootstrapped company for six years, it said in the statement.The funds will be used to increase its presence across the...
Qureight, a Cambridge-based health tech company that develops digital infrastructure for complex medical data, has raised $8.5m (£6.8m). The company was founded in response to the limited treatment options for complex heart and lung diseases. According to Qureight, part of the problem is that researchers have to manually extract important information from large volumes of […]
Apple has reportedly acquired Datakalab, a Paris, France-based startup specializing in artificial intelligence compression and computer vision technology. According to French business magazine Challenges, the acquisition was finalized in December. Datakalab described itself as “experts in low power, runtime efficient, and deep learning algorithms” that work on device. more
Financial services software firm Aurionpro Solutions on Friday said it will acquire banking and insurance focused startup Arya.ai for $16.5 million (about Rs 138 crore).Under the all-cash deal, NSE-listed Aurionpro Solutions is set to acquire 67% stake in the Mumbai-based company. Platform-as-a-service Arya.ai, founded in 2013 by IIT Bombay graduates Vinay Kumar and Deekshith Marla, had raised about $2 million from investors such as YourNest, DMI Sparkle Fund and Venture Nursery. Most of these...
Ibotta, the digital marketing company backed by Walmart, said on Tuesday it was looking to raise about $551 million in an upsized initial public offering in the United States. The company and some of its existing shareholders plan to sell a combined 6.56 million shares, nearly one million more than its previous offering after some selling investors decided to offer more stock. The company is seeking a valuation of $2.55 billion and sell 2.5 million shares and the stock offering is expected to be...
The company said its zero-emission drones have now flown more than 70 million autonomous commercial miles across four continents.