Summary:
AI startups raised $110 billion in 2024, a 62% increase from the previous year.
European startups in defense and security raised $5.2 billion, marking 10% of all VC funding in the region.
French startup Mistral AI launched the most downloaded iOS app in France.
Zeta is now valued at $2 billion after a $50 million investment.
Founders Fund is set to close another $3 billion fund.
Welcome to Startups Weekly
Your weekly recap of everything you can’t miss from the world of startups. Want it in your inbox every Friday? Sign up here.
This week confirmed that even when current events cloud the outlook, some startups still manage to raise significant amounts of funding, particularly those tied to security and sovereignty.
Most Interesting Startup Stories from the Week
Image Credits: Nathan Laine / Bloomberg / Getty Images
Uncertainty usually doesn’t rhyme with investment. But there’s always money for security, whether online or IRL.
Countercyclical
AI startups raised $110 billion in 2024, a 62% increase compared to 2023, while overall startup funding was down 12% year on year.
European AI
French champion Mistral AI was highlighted during the Paris AI Summit, with its AI assistant Le Chat becoming the most downloaded iOS app in France.
Security M&As
Security compliance firm Data acquired software security review startup SafeBase for $250 million. CyberArk also bought startup Zilla Security for $165 million in cash.
Most Interesting VC and Funding News This Week
Image Credits: Zeta
Startups across various sectors announced funding rounds this week. Plus, Founders Fund is set to have more capital to invest.
Money in the Bank
Zeta, a Bengaluru-based banking software provider, is now valued at $2 billion after raising $50 million from a strategic investor.
Quantum Notes
Google-backed Boston quantum startup QuEra secured $230 million in debt via a convertible note.
Forestation
Chestnut Carbon, a carbon removal startup, closed a $160 million Series B round to turn old farms into forests.
AI Health Tech
Australian health tech startup Harrison.ai raised $112 million for its AI-enabled medical diagnostic software.
Easy Bills
American startup Candid Health closed a $52.5 million Series C to simplify medical billing.
Last but Not Least
Image Credits: Sheel Mohnot, Better Tomorrow Ventures / Rex Salisbury
If you’re reading this, you may be one of Sheel Mohnot’s 150,000 followers. His interview covers AI, fintech, and the truth about AI startups.
Anna Heim is a writer and editorial consultant covering a range of startup-related topics, focusing on Europe and the rise of defense, security, and resilience tech in the region.
Comments