Early to AI, early to rise
The case uses for AI are endless, translating into actual cost savings. Recently, Amazon’s President and CEO, Andy Jassy, gave Amazon Q, their GenAI Assistant, cost-savings numbers:
- Upgrading to Java 17 saved 4500 years of developer work
- Completed in under 6 months
- Upgraded more than 50% of Amazon’s Java systems
- 79% of auto-generated code shipped without any changes
- An estimated $260 million was saved in annualized efficiency gains.
Q for breakfast, anyone?
Notable trends this week…
- Bigger deals in the series and debt categories
- Mostly single-digit deals this week
- Non-location-based continue in a big way
Up next are this week’s top 5 VC deals…
1Parafin
$93M, Capital | Debt | SF | Fintech | Jefferies, Trinity Capital Inc | https://www.parafin.com/
LinkedIn Overview:
“Parafin provides end to end infrastructure for platforms such that they can offer business financing products to their small business service providers…”
2Shift
$35M, Series D, Capital| Equity | Australia | Payments | Peak XV Partners | https://www.shift.com.au/
LinkedIn Overview:
“Shift’s range of credit and payment products allow businesses to take control of their cashflow, purchase assets, streamline trade terms and choose the right financial products for their ever-changing needs…”
3nOps
$30M, Series A, Capital | Equity| SF | Fintech | PE firm Headlight Partners | https://www.nops.io/
LinkedIn Description:
“nOps is an AWS cloud optimization platform that makes it easy to allocate and manage your cloud usage, commitments, and spend…“
4Edge Matrix Chain (EMC)
$20M, Capital| Equity | Singapore | Blockchain | Polygon Ventures, Amber Group, One Comma, Kapley Judge, Cyberrock Venture Fund, Candaq Fintech Group, Hameem Raees Chowdhury | https://emc.network/
LinkedIn Description:
“EMC is a leading #AI #DePIN in AI+Web3, bridging the computing power network and AI (d)apps. EMC has jointly issued the world’s first GPU #RWA.“
5Space and Time
$20M, Series A, Capital | Equity | CA | Blockchain | Framework Ventures, Lightspeed Faction, Arrington Capital, Hivemind Capital | https://www.spaceandtime.io/
LinkedIn Description:
“The team building Space and Time: the Verifiable Compute Layer for AI x Blockchain. Delivering the first sub-second ZK proofs onchain…”
