## Under Armour Acquires Portland Startup:  What's Next for Sustainable Apparel?

Under Armour, the Baltimore-based sportswear giant, has acquired **Unless Collective**, a Portland-based startup focused on **sustainable and plastic-free apparel**. This move signals Under Armour's commitment to **embracing eco-conscious practices** within the industry. 

**Eric Liedtke**, the founder of Unless Collective and a former executive at Adidas, will join Under Armour as **Executive Vice President of Brand Strategy**.  Liedtke's experience in the sportswear industry, combined with his dedication to sustainability, makes him a valuable asset to Under Armour's team. 

![Eric Liedtke](https://www.oregonlive.com/resizer/v2/O3SHVKH6JVDNBOZBNUR2YEYOGY.jpeg?auth=e293b2aa41e9f611c66af815e4743ced2535dab3ff9bf3f40d99eca2cb16ea9f&width=500&quality=90)

The acquisition of Unless Collective marks a significant step for Under Armour, as the company aims to integrate sustainable practices into its brand strategy. It remains to be seen how Under Armour will leverage Unless Collective's expertise and what this means for the future of sustainable apparel in the industry.

Unless cofounder Eric Liedtke will join Under Armour as an executive vice president.

Under Armour Acquires Portland Startup:  What's Next for Sustainable Apparel?

**Alza**, a fintech startup aimed at serving the Latino community, has **abruptly ceased operations**, raising questions about the sustainability of niche fintechs. Founded in **2021** by **Arturo Villanueva**, a former executive at **Stripe**, Alza aimed to provide essential financial services to **Spanish-speaking individuals** in the U.S. The company offered an **FDIC-insured checking account**, debit cards, peer-to-peer payments, and cross-border remittances to over **20 Latin American countries**. 

The announcement came as the Alza website went **offline** on Monday, displaying a message thanking users and directing them to contact support for account inquiries. Villanueva, who moved to the U.S. from Mexico as a child, launched Alza out of a desire to combat the **predatory financial practices** faced by immigrants in the U.S. 

Alza managed to raise **$6.6 million** in funding from notable investors including **Thrive Capital** and **Rappi co-founder Sebastian Mejia**, but no specific reasons were provided for the sudden shutdown. This closure follows a troubling trend within the fintech sector, with other startups like **Bench** and **Level** also recently shutting down or facing significant operational challenges. The fintech landscape appears increasingly volatile, raising concerns about the viability of startups targeting specific demographics.

Alza is the latest fintech to cease operations

The Rise and Fall of Alza: A Latino-Focused Fintech Startup's Unexpected Shutdown

## Boulder Welcomes a New Quantum Startup Incubator

A collaborative initiative involving **Elevate Quantum**, the **University of Colorado**, **Colorado State University**, and the **Colorado School of Mines** is set to launch a cutting-edge startup incubator for **quantum technology companies** in Boulder.

The new facility aims to create a **collaborative office environment** for early-stage quantum ventures, equipped with **state-of-the-art scientific equipment**. This will serve as a **testbed** to transform innovative ideas in quantum technologies into products that can greatly benefit consumers. Potential applications of these quantum technologies include:
- **Sensors** for detecting illness through breath analysis
- **Secure data networks** capable of long-distance communication without hacking risks

The ribbon-cutting ceremony will take place on Wednesday, attended by university officials and local leaders. The incubator will occupy a **13,000-square-foot space** in Boulder’s **Flatiron Park business campus**.

## Investment and Economic Growth
San Diego-based **BioMed Realty LLC** recently acquired a **1 million-square-foot**, 22-building portfolio in Flatiron Park, investing **$625 million** to transform it into a vibrant life-sciences and technology campus.

The U.S. Department of Commerce’s **Tech Hub program** awarded Elevate Quantum a **Phase 2 Tech Hub designation** last year, unlocking **$127 million** in state and federal funding. This funding is expected to spur several billion dollars in **private investment** within the quantum industry in the region.

Currently, Colorado’s **quantum economy** employs about **3,000 workers**, with projections suggesting this number could **more than triple** to approximately **10,000** in the next decade, according to a **2024 report** from the Colorado Office of Economic Development and International Trade.

## The Quantum Revolution
Quantum theory explores the behavior of matter at **atomic and subatomic levels**. By leveraging the unique properties of quantum systems, such as **superposition**, quantum computers can achieve computing power and speed that far exceed traditional computers.

The implications of quantum science extend into various fields, potentially revolutionizing how we:
- Discover new **drug therapies**
- Map the **cosmos**
- Protect sensitive **data**
- Combat **climate change**
- Explore new forms of life in **deep space**

The Boulder Valley has emerged as a **hub for quantum research**, thanks to institutions like the CU physics department, the **National Institute of Standards and Technology**, and **JILA** (formerly the Joint Institute for Laboratory Astrophysics). With decades of investment and research, Boulder is poised to lead the charge in the future of quantum technology.


A group of partners that includes the University of Colorado is opening a startup incubator for quantum technology companies in Boulder.

Unveiling Boulder’s Quantum Startup Incubator: A Game Changer for Technology Innovation

### Meet Surbhi Sarna

Surbhi Sarna, the visionary behind **nVision Medical**, which she sold for **$275 million**, is back in the startup game with her new venture, **Collate**. Leaving her role at **Y Combinator**, Sarna aims to tackle the **tedious paperwork** that life sciences companies face.

![Collate founding team Surbhi Sarna, Nate Smith, and Jigish Patel](https://specials-images.forbesimg.com/imageserve/678540242ee0353851983344/Collate-founding-team-Surbhi-Sarna--Nate-Smith-and-Jigish-Patel-/1960x0.jpg?fit=scale)

### The Challenge in Life Sciences

The life sciences sector is bogged down by extensive documentation required for **research**, **clinical trials**, **product development**, and **manufacturing**. Sarna sees **artificial intelligence** as the solution to streamline these processes, accelerating the development of **potentially life-saving drugs**. 

> “If I talk to customers, they say they would use this immediately.” - Surbhi Sarna 

### Funding and Future Plans

Collate has successfully raised **$30 million** in seed funding led by **Redpoint**, valuing the startup at over **$100 million**. This funding will be pivotal in building their product and hiring a skilled engineering team. 

### A Personal Journey

Surbhi's passion for healthcare stems from her own health struggles as a teenager. After founding nVision in **2009**, she overcame significant challenges to develop an **FDA-cleared device** for early ovarian cancer diagnosis. 

### Building the Team

Sarna has partnered with **Nate Smith**, a former YC visiting partner, to co-found Collate. They both recognize the opportunity to leverage **large language models** to create essential documentation in the life sciences industry.

### The Road Ahead

With a strong vision and significant funding, Collate is poised to disrupt the life sciences industry by transforming how companies handle documentation. Sarna emphasizes the need for a **strong company culture** and is committed to hiring quickly and efficiently.

> “This time, we’re going to be much quicker, and I will be more precise.” - Surbhi Sarna

Y Combinator's Surbhi Sarna has raised $30 million for Collate, a startup aiming to automate the tedious parts of running a life sciences business using AI. 

Surbhi Sarna's Bold Move: $30 Million Raised for AI Startup Revolutionizing Biotech Paperwork

### New York's Unique Flavor in Venture Capital
While **Silicon Valley** might be synonymous with tech innovation, **New York** has carved out its own niche. On a chilly January morning, I visited **Asymmetric Capital Partners** to discuss the future of the **venture capital** industry with leading **VCs** in the city, all while enjoying a delicious bagel from **Apollo**.

### A Changing Landscape
**Ben Sun**, cofounder of **Primary Venture Partners**, shared his journey of launching a social media platform in the 1990s, highlighting the shift in talent perception in New York. Once overlooked, the city is now home to successful startups like **MongoDB** and **Datadog**. This shift has transformed New York into a **beachhead** for venture capital, enabling firms to discover opportunities in overlooked regions such as **Texas**, **Chicago**, and **Miami**.

### The Rise of Unicorns
As **LPs** (Limited Partners) seek exposure to this burgeoning ecosystem, New York has attracted significant investment. **Heather Hartnett**, CEO of **Human Ventures**, pointed out that LPs are diversifying their portfolios by investing in multiple New York funds at various stages, indicating a fully developed ecosystem.

### San Francisco's Resurgence
Despite a resurgence in **San Francisco** driven by AI advancements, even traditional firms are feeling competition from players like **Thrive Capital**. **Joshua Kushner** has positioned Thrive as a global venture firm, emphasizing that geography is becoming less relevant in the quest for lucrative deals.

### The Future is Uncertain
Looking ahead, the venture capital landscape remains unclear. As firms grapple with the aftermath of the pandemic, **Lerer Hippeau** predicts a bifurcation in the industry: larger firms acting as **asset gatherers** and smaller, specialized funds. This dynamic makes early-stage investments increasingly competitive, as highlighted by **Rob Biederman** from Asymmetric, who cautioned against backing just any AI startup without insider knowledge.

### Innovation is Key
While New York's tech scene is thriving, firms must continue to innovate amidst growing competition. Just like **Apollo's** bagels, which are made with **sourdough**, the key to success lies in staying ahead of the curve.

As venture capital grows more competitive, investors are learning to adapt.

The Evolution of Venture Capital: Insights from New York's Top Investors

Funding to **Europe-based startups** saw a **stabilization** in 2024, reaching **$51 billion**, a **5% decrease** from the **$54 billion** invested in 2023, according to **Crunchbase** data.

### Key Insights
- Europe accounted for **16%** of **total global venture capital** in 2024, down from **18%** in the previous two years. It's important to note that some European startups have shifted their headquarters to the U.S., affecting these figures.
- The funding level in 2024 is still less than **half** of the **market peak** of **$117 billion** in 2021, with **late-stage funding** experiencing the most significant decline since the peak.
- Despite this, funding was still above **pre-pandemic levels**, including 2020.

### UK, France, and Germany Lead
The **UK** emerged as the leading country, representing about **one-third** of the funding, totaling around **$17 billion**. **France** and **Germany** followed, raising **$7.9 billion** and **$7.6 billion**, respectively. **Switzerland** was also notable with **$2.8 billion**.

### Sector Highlights
- **Healthcare/Biotechnology** led investments with over **$11 billion**. Notable companies included **Isotopen Technologien München**, **Flo Health**, and **Oura**.
- The **Financial Services** sector followed with **$9.6 billion**, featuring companies like **Abound**, **SeQura**, and **Monzo**.
- **AI** startups raised **$8.8 billion**, accounting for **9%** of global AI funding, with significant rounds from **Wayve**, **Mistral AI**, and **Helsing**.

### Quarterly Performance
The fourth quarter of 2024 saw **$12 billion** in funding, marking a **13% increase** quarter-over-quarter but remaining flat year-over-year. **Late-stage funding** reached **$5.2 billion**, while **early-stage** and **seed funding** recorded **$5.1 billion** and **$1.6 billion**, respectively.

### Summary of Trends
- Overall, **Europe's startup funding** remained stable year-over-year, contrasting with **North America**, which saw a spike due to AI sector funding and numerous billion-dollar rounds.
- Seed and early-stage funding remained robust, with totals exceeding **60%** of the market peak, while late-stage funding was around **31%**.

![Europe's Startup Funding](https://news.crunchbase.com/wp-content/uploads/Quarterly-Cowboy-Europe.jpg)

Funding to Europe-based startups settled year over year in 2024. Funding reached $51 billion, down by 5% year over year from $54 billion invested in 2023, Crunchbase data shows. 

Europe's Startup Funding in 2024: A Stabilizing Trend Amidst Market Challenges

The **business landscape** is constantly evolving, and the partnerships you establish can significantly influence your growth trajectory. While many companies focus on aligning with peers or larger firms, there’s a **goldmine of opportunity** in collaborating with startups.

![Greg Waisman of Mercuryo](https://news.crunchbase.com/wp-content/uploads/GregWaismanMercuryo.jpg)

### Why Partner with Startups?
As businesses increasingly seek **specialized technologies** that cater to their specific needs, startups emerge as the ideal partners for addressing niche challenges through **innovative solutions**. Recent surveys reveal that **over 95%** of companies are looking to incorporate emerging technologies into their future plans, which underscores the growing importance of these collaborations.

However, it’s essential to acknowledge that such partnerships can face challenges. According to a **McKinsey survey**, only **27%** of startups expressed satisfaction in their corporate partnerships, often due to operational disagreements and cultural differences.

### Fresh Perspectives and Agility
Startups thrive on **innovation** and are driven by teams eager to challenge the status quo. Their **lean structures** allow them to quickly pivot and adapt to market changes, providing established companies with valuable insights to stay ahead of the competition. For instance, **Mastercard** partnered with the fintech startup **Scale** to enhance payment solutions in Africa and the Middle East, demonstrating how established firms can leverage startup agility for market expansion.

Similarly, **NatWest Bank** recently launched a **fintech growth program** aimed at collaborating with startups to address challenges in the payment sector, showcasing how such partnerships can foster industry-wide innovation.

### Building a Network Effect
Engaging with startups is also about creating a sense of **community** and collaboration within sectors. By joining startup ecosystems, established businesses can tap into a broader network of **stakeholders**, investors, and innovators. A notable example is the initiative launched by **Microsoft** and **Nvidia**, focused on supporting UK AI startups, which creates a pipeline for emerging talent.

Such ecosystems act like a **“club membership”**, offering exclusive access to funding, mentorship, and growth opportunities, benefiting both startups and large corporations alike.

### People Over Products
When investing in startups, larger companies often prioritize products over the teams behind them. However, a **capable team** is crucial for a startup’s success. Startups evolve their ideas significantly from conception to market, and having experienced founders increases their chances of success. Additionally, compatibility between teams is vital for successful collaborations.

![3 Reasons Full-Scale Businesses Should Partner With Startups](https://news.crunchbase.com/wp-content/uploads/HR.jpeg)

While traditional collaborations often focus on partnering with similar-sized or larger businesses, there is an overlooked case for partnerships between full-scale businesses and startups, writes guest author Greg Waisman of Mercuryo, who shares three reasons that corroboration is a good idea.

Unlocking Success: 3 Compelling Reasons for Established Businesses to Collaborate with Startups

## Chainalysis Acquires Alterya

In a significant move within the tech industry, **Chainalysis**, a leading blockchain analysis firm, has acquired **Alterya**, an AI agent cybersecurity startup, for over **$100 million**. This acquisition highlights the growing intersection between **blockchain technology** and **cybersecurity**.

![AI robot artificial intelligence money hand](https://i.insider.com/67840df08951662c9f1fccad?width=700)

### The Importance of This Acquisition
The integration of Alterya's **AI-driven cybersecurity solutions** into Chainalysis's offerings is expected to enhance their capabilities in protecting digital assets and combating cyber threats. This move is seen as a strategic step to bolster Chainalysis's position in the rapidly evolving **crypto landscape**.

### Industry Implications
This acquisition not only showcases Chainalysis's commitment to innovation but also underscores the increasing importance of cybersecurity in the blockchain space. As digital threats continue to evolve, having robust cybersecurity measures in place is essential for the success and sustainability of blockchain businesses.

The deal reflects a broader trend where established firms are seeking to partner with or acquire startups that can provide cutting-edge solutions to navigate complex challenges in the tech landscape.

AI agent cybersecurity startup Alterya has been bought by blockchain giant Chainalysis for over $100 million, Business Insider has learned. 

Under Armour Acquires Portland Startup: What's Next for Sustainable Apparel?

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