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  • Scale.ai closes a MASSIVE Series F round, Carl closes their Seed round for its dementia-friendly phones

Scale.ai closes a MASSIVE Series F round, Carl closes their Seed round for its dementia-friendly phones

Your weekly Venture Capital recap is here!

State of Venture Capital

2023 vs 2024 total funding amounts worldwide (Seed-Series D+)

1 Country 1 Investment

This week’s country is: New Zealand

Jooules (Seed, May ‘24) - $1m: CO2 transformed into protein

Protein intended to advance humanity's transition to a sustainable, equitable, and resilient food future. The company specializes in creating protein from clean energy and air by harnessing the efficiency of microbes. The company raised $1m of funding from Sprout Agritech. The funds will be used to commercialize its research into using specialised microbes that consume carbon dioxide (CO2) and turn it into a complete protein powder.

Investments from the past week


Brain-CA Systems (USA) - $2.2m: Solving AI bottleneck baggage

AI processors aimed at overcoming the limitations of current technology. By focusing on energy efficiency and complexity reduction, the company creates portable AI systems inspired by the human brain. Brain-CA raised $2.2m in seed funding via SAFE Notes from undisclosed investors to engineer simulations, validate functionality, and refine performance.


Carl (USA) - $1.15m: Phones designed for people with dementia

Dementia-friendly phones designed to improve ease of use and safety. The company offers remote monitoring technology that makes life more manageable for families, enhancing remote care and providing a hyper simple UI for easy use. It raised $1.15m in seed funding from undisclosed investors.


Behavio (Czech Republic) - €2.25m: Measuring the subconscious

Market research platform to aid marketing campaigns by measuring clients' subconscious. With a team of sociologists, psychologists, and economists, the platform uses data insights to understand customer motivations, run successful campaigns, and energize employees. The company raised €2.25m in seed funding from Airbridge Equity Partners to enhance its platform with AI for more accurate ad focus data.


Crowdaa (France) - €1.29m: Deploying apps made easy

Developers of a no-code platform for non-developers to connect with their audience and deploy apps to a platform unique to the AppStore and other alternatives. The company raised €1.2m in seed funding led by Apicap, with participation from TeamPact Ventures and Tremplin Capital. The funds will expand sales and marketing, enhance the company's presence in France, and plan a U.S. launch in the coming weeks.

Series A

Compa (USA) - $12.13m: Suggested compensation packages

Compensation platform for employers to ensure fair and competitive salaries. The platform provides teams with real-time data and predictive insights, helping identify appropriate packages. The company raised $12.13m in Series A-4 and A-3 funding led by Storm Ventures, with participation from Indeed, Base10 Partners, Acadian Ventures, NJP Ventures, Penny Jar Capital, and HR Tech Investments. Funds will expand the network of participating companies and enhance the compensation intelligence platform.


Praktika.ai (USA) - $35.5m: Learning English with AI

Platform to improve spoken English skills by preparing users for job interviews in English through role-play with a robot, providing personal scores, improvement tips, and enhancing speaking, listening, and writing skills. The company raised $35.5m in funding led by Blossom Capital, with participation from Creator Ventures, Blue Wire Capital, TMT Investments, Yellow Rocks!, and Patrice Evra. The funds will enhance the app experience, improve avatar accuracy, add new languages (Spanish, French, German), and establish new development hubs in Eastern Europe and the UAE.


Ayan Capital (UK) - €25m: Halal car financing

Operator of a financial assistance company helping clients buy cars easily. The company provides long-term funding instruments to mobilize investments by purchasing and renting cars, offering halal car finance services. The company raised €25m in Series A funding through a combination of debt and equity from undisclosed investors.


Series B

Suno (USA) - $125m: AI-generated music

Platform designed to generate songs with AI. The platform builds consumer AI audio products, generating tunes with different lyrics and vibes, allowing users to generate their own melodies, genres, etc. The company raised $125m in Series B funding led by Founder Collective, Lightspeed Venture Partners, Daniel Gross, Matrix Partners, and Nat Friedman, valuing the company at $375m. Funds will be used to expand the company's staff.


Cargo Beamer (Germany) - €140m: Putting trailers on rails

Intermodal transport system for semi-trailers by rail. The platform uses special railway cars and terminals for efficient and eco-friendly transport across Europe, eliminating the need for trailer modifications or long-haul trucks and drivers. The company raised €140m in Series B funding from the Swiss Federal Office of Energy, Nordwind Ventures, and the Federal Railway Authority. Funds will expand terminals in Kaldenkirchen (Germany) and Domodossola (Italy) near Milan.

Series C 

Carbon Robotics (USA) - $50m: Advanced weed elimination for farming

Robotics technology for continuous and autonomous weed elimination through robots with deep learning technologies to remove unwanted plants, helping farmers optimize crop yield and simplify common tasks. The company raised $50m in Series C funding led by Sozo Ventures and S28 Capital, NVentures and Ignition Partners, valuing the company at $119m. Funds will expand sales in North America, optimize and scale manufacturing, develop new software and hardware products, and launch into international markets.


Vitesse (UK) - $93m: Modernizing cross-border payments

Settlement and liquidity management system to improve the opaque, costly, and outdated payment process. The platform provides a single connection to domestic clearing systems for quick full-value payments and a real-time view of global liquidity, enabling banks and businesses to make cross-border payments via a globally distributed settlement network. The company raised $93m in Series C funding led by KKR & Co., with Hannover Digital Investments and other investors participating. Funds will support US expansion, product development, and enhanced connectivity in the insurance value chain.

Series D+

Scale.ai (Series F - USA) - $1b: Accelerating AI development

Platform for training and validation data in AI applications. The platform offers end-to-end service for managing the entire machine learning lifecycle, combining technology to develop complex datasets. The company raised $1 billion in Series F funding led by Accel, with participation from Cisco Investments, Geodesic Capital, and 19 other investors, valuing the company at $13 billion.

In your opinion, which early stage startup is a winner (Seed-Series A)

You'll see what other VCs thought in next week's letter.

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