AI, the shiny new thing
AI is exciting, the possibilities are endless, and VCs are enthralled with the shiny new tool. This is so much so that, according to CB Insights, AI captures one in every three dollars of VC cash. What’s driving the frenzy of AI from the eyes of VC and investors?
- AI startups have quicker exits compared to other technologies
- Interest rates are dropping, making returns on AI investments attractive
- AI is accepted as a legitimate technology in any industry
For now, AI looks to be dominating funding awards going into Q4 2024.
Notable trends this week…
- Activity is slowing down, dramatically.
- Mostly foreign deals with a few domestic
- Single-digit deals are even hard to come by
Up next are this week’s top 5 VC deals…
1Asaas
$148M, Series C, Capital | Equity | Brazil | Payments | BOND, Softbank, 23S Capital, Endeavor Catalyst | https://www.asaas.com/
Website Overview:
“Offer different payment methods, manage collections, issue invoices, anticipate receivables and pay suppliers. All in one place.”
2TrueLayer
$50M, Series E, Capital| Equity | UK | Payments | Northzone, Stripe, Temasek, Tencent, Tiger Global | https://truelayer.com/
LinkedIn Overview:
“TrueLayer is Europe’s leading open banking payments network. We power smarter, safer and faster online payments by combining real-time bank payments with financial and identity data...“
3Facet
$35M, Capital | Equity| MD | Wealthtech | Multiplier Capital, Warburg Pincus, Audacious Capital | https://facet.com/
LinkedIn Description:
“We believe financial planning, when done right, is essential to living well…“
4Salmon
$30M, Series A2, Capital| Equity | Philippines | Fintech | International Finance Corporation (IFC), Lunate | https://salmon.ph/
LinkedIn Description:
“Money is too important a part of people’s lives to be left to traditional players. Managing one’s finances doesn’t need to be complex, frightening, boring or off-putting, it doesn’t have to be a chore...”
5Bitlayer
$9M, Series A, Capital | Equity | Singapore | Blockchain | Polychain Capital, Franklin Templeton, SCB Limited, Selini Capital, G-20 Group| https://www.bitlayer.org/
LinkedIn Description:
“Bitlayer is the first Layer 2 solution offering Bitcoin-equivalent security and Turing completeness. It’s also the first built on BitVM…”
