Why Wiz's Bold Move Paid Off: A Week of Major Startup Acquisitions

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Major Acquisitions and Startup News

This week was remarkable, featuring an 11-figure acquisition and several other notable deals that suggest a positive shift in startup dynamics.

Image Credits: Kimberly White/Getty Images / Flickr under a CC BY 2.0 license.

• Wiz's Strategic Gamble: Last year, Wiz made headlines by rejecting Google’s $23 billion offer, a decision that has now proven wise as Google is set to acquire the cloud security startup for an unprecedented $32 billion in cash, plus an additional $1 billion in retention bonuses. This deal will notably benefit Cyberstarts, an Israeli VC, which will see a staggering 200x return on its initial investment.

• Ampere Computing Acquisition: SoftBank Group is poised to acquire Ampere Computing, a semiconductor startup, for $6.5 billion in an all-cash transaction expected to finalize in the second half of 2025.

• Next Insurance Sold: The insurtech company Next Insurance is being acquired by Germany’s Munich Re for $2.6 billion.

• Nvidia's Latest Venture: Nvidia is reportedly acquiring Gretel, a synthetic data startup, for a price exceeding its last valuation of $320 million.

• New Ventures: The former CEO of Bolt is launching a new e-commerce venture called Spangle AI, which will create customized landing pages based on user interactions.

• Generalist AI Development: A senior researcher from DeepMind is founding a stealth startup focused on Generalist AI, already backed by Nvidia.

• Klarna's New Partnership: Following its IPO filing, Klarna has secured an exclusive Buy Now, Pay Later partnership with Walmart, replacing its previous partner, Affirm.

• Legal Battles: Logistics unicorn Flexport is suing former employees for allegedly using stolen code to create a competing startup, Freightmate AI.

VC and Funding Highlights

• Evroc's Cloud Ambitions: Swedish startup Evroc raised $55 million in Series A funding aimed at establishing a secure and sustainable cloud infrastructure in Europe.

• Factorial's Non-dilutive Funding: Spanish HR unicorn Factorial secured $120 million from General Catalyst in a non-dilutive loan.

• Graphite's Growth: AI-powered code-review platform Graphite raised $52 million in a Series B round led by Accel.

• GrubMarket's Expansion: Food e-commerce startup GrubMarket raised $50 million, aiming to enhance its technology, including AI, with a valuation surpassing $3.5 billion.

• Ribbit Capital's New Fund: Fintech-focused VC Ribbit Capital is raising $500 million for a new fund, indicating positive sentiments in the fintech sector.

• Climate Investments: Just Climate, part of Al Gore’s Generation Investment Management, raised $175 million from Microsoft’s Climate Innovation Fund for climate-based investments.

Noteworthy Updates

Following Y Combinator’s W25 Demo Day, the accelerator announced the departure of Michael Seibel, who transitions to a partner emeritus role after previously stepping back from the CEO position.