The bigger they are (the harder they fall)…
Many VC-backed startups have closed down or seen valuations fall in the past few quarters, with their IPO dreams shattered. Some of the biggest flops in the sector’s unicorn ranks have been AI-driven technologies. It turns out an AI focus doesn’t circumvent failure for many startups.
“Sporadic startup implosions, however, don’t say much about whether the recent spike in AI-related investment will generate venture-worthy returns. In every technology cycle, some ambitious upstarts thrive, others fall and still others manage to keep plodding along. This time, it appears, is no different.”-Crunchbase.
Some notable trends this week:
- Triple-digit deals are back
- Fintech funding dominated
- Banks are back to funding
Now, here are this week’s Top 5 VC Deals…
1Ampla
$258M, Capital| Equity | NY | Fintech | Goldman Sachs, Atalaya Capital Management | https://www.getampla.com/
LinkedIn Overview:
“With Ampla’s modern banking platform and capital solutions, we aim to be the financial backbone for emerging brands deploying eCommerce, retail, and omnichannel growth strategies… “
2ThetaRay
$57M, Series D, Capital| Equity | Israel | Fintech | Portage, JVP, OurCrowd, ABN AMRO, General Electric, Alibaba, PwC, SVB Financial | https://www.thetaray.com/
LinkedIn Overview:
“ThetaRay is the provider of SONAR, the AI-powered AML transaction monitoring solution that allows payment fintech and banks to expand their business opportunities and grow revenues through trusted and reliable cross-border and domestic payments…“
3Story Protocol
$54M, Capital | Equity | SF | Blockchain | Andreessen Horowitz, Hashed, Endeavor, Samsung Next, dao5, Insignia Venture Partners, angel investors | https://www.storyprotocol.xyz/
LinkedIn Description:
“Story Protocol is building open IP infrastructure to grow the creativity of the internet era.“
4Certa
$35M, Series B, Capital| Equity |CA | Fintech | Fin Capital, Vertex Ventures, Tru Arrow Partners, Point72 Ventures, BDMI, Mantis VC, GOAT Capital | https://www.getcerta.com/
LinkedIn Description:
“Certa’s no-code platform makes it easy to digitize and manage the lifecycle of all your suppliers, partners, and customers. With automated onboarding, contract lifecycle management, and ESG management, Certa eliminates the procurement bottleneck and allows companies to onboard third-parties 3x faster. “
5GenTwo
$15M, Series A, Capital |Equity | Switzerland | FinTech | Point72 Ventures | https://www.gentwo.com/
LinkedIn Description:
“GenTwo is a Swiss-based B2B fintech company that operates globally and expands the investment universe by making all assets investable. GenTwo created a financial engineering network centered around the proprietary platform solution GenTwo PRO, which empowers investment professionals“
