Insight Partners close a massive $10B fund, while Sam Altman departs OpenAI Safety Committee. Apple shares drop, and TikTok goes to war.
The news and deals are wild this week!
Welcome to Issue #36 of Startup Deal Desk!
Here’s what you can expect in today’s edition:
Insight Partners close a massive $10B fund, while Sam Altman departs OpenAI Safety Committee. Apple shares drop as demand is lower than expected and TikTok goes to war.
Will TikTok get banned in January?
More startups are hunting other startups, 8 new unicorns in August, another big week for biotech and AI
3 new open deals:
AnuBio, TechArt, and NightVision
and much more!
Keep reading to see the latest deals, news and trends 👇.
And don’t forget to subscribe!
Insight Partners close in on massive $10B fund - Although half of the amount originally intended, the VC’s 13th fund will remain open until early 2025 as dealmaking picks up. The final figure will likely be closer to $12B.
Sam Altman departs OpenAI’s safety committee - Not a good look for Altman as nearly half of the company’s long-term AI risk team has left. The Security Committee will become an “independent” oversight group chaired by its current board of directors.
The U.S. Court of Appeals in Washington DC held oral arguments on Monday regarding the legal battle over TikTok that could ban the China-owned app used by 170 million Americans as early as January 2025. The three-judge panel appeared skeptical of TikTok’s legal arguments.
Apple shares drop 3%, demand lower than expected - Apple shares dipped nearly 3% on Monday in response to weekend reports that pre-orders for the high-end iPhone 16 Pro and Pro Max series were lower than they had been for last year’s equivalents.
VC-backed companies on the hunt for more startups - Through the first two-thirds of 2024, 252 deals were completed involving startups buying other startups. This is 39% of all M&A deals for US-based startups – the highest percentage in at least a decade.
8 new companies get unicorn status in August - Six of the eight unicorns are US-based, but the winner is Huawei Technologies’ smart car subsidiary Yinwang Smart Technology, valued at $16B – the second-largest value for a newly minted unicorn this year.
Another big week for biotech and AI funding - Biotech and AI had another strong week, as the sectors saw two big nine-figure rounds each, including Candid Therapeutics’ $370M round and Glean’s $260M Series E round at a $4.6B valuation.
AnuBio: Immunotherapy with AI-driven drug discovery - Developing novel and effective immunotherapies, de-risking drug development and improving clinical success rates through AI and phenotypic screening. Resulting in saving $350M with each 10% improvement. Currently raising $6M, of which $3M has already been secured.
Connect with the Founders and get more information by clicking here.
TechArt: Addressing compatibility issues in wireless charging - Developing customizable wireless charging adapters for the automotive industry. Over 1,000 units sold through organic growth and strong customer feedback, and doubled its profit margins from Q1 to Q2 of this year. Currently raising $300K-$500K.
Find out more about TechArt and meet the Founder here.
NightVision: Innovative website and API software security - An application security testing platform that identifies and locates exploitable vulnerabilities in minutes before the code is deployed. Recently raised a $5.4M Seed round and launched its revolutionary tech. Currently raising $3M to scale operations and enhance technology.
Meet the founder and learn more about NightVision here.
Intel qualifies for $3.5B in grants to make chips for US military - After reaching an binding agreement with US officials, Intel has officially qualified for as much as $3.5B in federal grants to make semiconductors for the US Department of Defense.
People can now control Amazon Alexa with brain implants - Neuralink rival Synchron is connecting its brain–computer interface with consumer technologies, including Amazon Alexa, to allow people with paralysis more functionality.
The Polaris Dawn crew completes first commercial spacewalk - SpaceX’s Dragon capsule reached a 870 miles altitude, the farthest any humans have ventured since the Apollo program, and splashed down on the gulf of Mexico this Sunday.
Candid Therapeutics debuts with $370M in funding - The biotech startup amassed its pipeline by buying two private biotechs, Vignette Bio and TRC 2004, that had recently acquired rights to cancer drug prospects from China.
Cyber intelligence company Strider raises $55M - Strider Technologies has raised $55M in Series C financing as companies seek help in coping with a rise in nation-state hacking.
11x.ai raises $24M to build AI digital employees - The startup that builds AI bots for process automation (aka automating end-to-end workflows), 11x.ai just raised a fresh $24M in Series A led by Benchmark.
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Until next time!