An eye on AI (or sleeping with one eye open?)
Last week, the Biden Administration released an executive order laying out a broad range of safety and security measures for using, developing, and anything AI. The move comes months (let’s be honest here, years) after AI has been a part of multiple technologies in various industries. The order aims to impact everything from ChatGPT to predictive analytics to modern technologies and others that have not yet been fully developed.
“The standards, which range from setting requirements for red-team testing to affixing labels on AI-generated content, could have a wide impact on how AI-focused companies, and startups in particular, develop and release new iterations of their products.”– Crunchbase.
This chapter in the book of AI still has yet to be written. For now, “red-team testing” may feel more like ‘red tape’ for startups.
Some notable trends this week:
- Foreign deals dominate (again)
- The ‘Series’ continues; more series funding than seed
- Fewer deals across all segments we follow (Fintech, Wealthtech, Payments Blockchain, Crypto).
And now, here are this week’s Top 5 VC Deals…
1Northern Data Group
€575 million, Debt, Capital| Equity | Germany |Blockchain | Tether Group | https://northerndata.de/
“At Northern Data Group, we believe unlimited High Performance Computing (HPC) will unlock unprecedented opportunities for research and development, business, and ultimately human progress…”
$200M, Series D, Capital| Equity | Saudi Arabia | Payments | Wellington Management, Bluepool Capital, Sequoia Capital India, STV, Mubadala Investment Capital, PayPal Ventures, Arbor Ventures | https://tabby.ai/en-AE
“Tabby creates financial freedom in the way people shop, earn and save by reshaping their relationship with money. +10 million users choose Tabby to stay in control of their spending and make the most out of their money…“
$24M, Capital | Equity | UK | Fintech | D Squared Capital, Moneta Venture Capital | https://www.railsr.com/
“Consumers want fully immersive and frictionless experiences, and expect brands to deliver the best, most personalised and distinctive engagement campaigns. Railsr is passionate about enabling brands to build relevant finance experiences to drive customer engagement and loyalty…“
$23M, Series A, Capital| Equity| CA | Fintech | Clear Ventures, Crosslink Capital, New Era Capital Partners, Moneta Venture Capital, Ridge Ventures, Westwave Capital | https://www.espresa.com/
Cointelegraph Article Description:
“Drive employee experience and engagement programs in new and meaningful ways with Espresa’s leading product, global Lifestyle Spending Accounts (LSA). And, with LSA+, you have even more ways to power inclusive flexibility with integrated total wellbeing, recognition, and community…“
$20M, Capital |Equity | CA | Blockchain | Piva Capital, March Capital, SCF Partners, Overture Climate Fund, Valor Equity Partners, Chevron Technology Ventures, Science Applications International Corporation | https://xage.com/
“Xage is the first and only zero trust real-world security company. The Xage Fabric accelerates and simplifies the way enterprises and governments secure, manage and transform digital operations across OT, IT, and cloud…“