Hiive

UNICORN WATCH: Another exciting week of funding news highlights continued innovation and growth across various sectors. Here's a brief overview of the latest major funding announcements: Harvey, an AI-powered legal tech startup, closes a new deal with GV after its acquisition plans collapse. Despite setbacks, Harvey remains focused on leveraging AI to streamline legal processes. https://lnkd.in/gH889AE5 Runway, an AI video startup, negotiates a $4 billion valuation fundraise with General Atlantic. Runway's cutting-edge technology continues to attract significant investment as it aims to revolutionize video content creation. https://lnkd.in/gqj97NsB Magic, an AI-driven productivity tool, secures substantial funding, positioning itself as a new unicorn in the rapidly evolving AI space. With this capital, Magic Cognition plans to enhance its platform and expand its market presence. https://lnkd.in/etF9Su_7

We're #hiring a new Creative Director in Vancouver, British Columbia. Apply today or share this post with your network. #CareersAtHiive

UNICORN WATCH: In a dynamic week of funding announcements, the tech sector appears to be thriving with significant investments propelling growth in HR tech, cybersecurity, and digital health. Here's a brief overview of the latest major funding announcements: SmartHR, Inc., a leading HR tech company from Japan, raises $140 million in a Series E round. Strong demand for HR technology boosts its ARR to $100 million, and the company aims to expand its market presence and enhance its product offerings. https://lnkd.in/gyMaKhf2 Abnormal Security reportedly reached $5 billion in valuation following its latest funding round. This cybersecurity firm continues to innovate in protecting enterprises from sophisticated cyber threats, positioning itself as a leader in the industry. https://lnkd.in/gu7Yq6Jy K Health, a digital primary care startup, raises $50 million in equity funding. The company plans to use this capital to develop its AI-driven healthcare solutions and expand its reach in the digital health market. https://lnkd.in/epaKXYdt Fetch, an app that lets customers scan receipts in exchange for rewards, secures a $50 million term loan provided by Morgan Stanley's private credit arm. After a challenging 2023 and achieving profitability in December, Fetch is preparing for potential pre-IPO financing next year.  https://lnkd.in/gvVJVES8

UNICORN WATCH Recent funding rounds have seen investments across health diagnostics, defense tech, fintech, and e-commerce sectors. Here's a brief overview of the latest major funding announcements: BillionToOne secured $130 million at a valuation of over $1 billion in a Series D led by Premji Invest. The health diagnostics company has reached over $125 million in ARR and reportedly plans to go public in 2025, targeting profitability by 2026. https://lnkd.in/gd-FeKhh Anduril Industries is in talks to finalize a $1.5 billion fundraise at a $14 billion post-valuation, co-led by Founders Fund and Sands Capital. The defense tech startup's revenue nearly doubled last year to $500 million. https://lnkd.in/gVk42RwZ Revolut is seeking a valuation of over $40 billion through a share sale, potentially making it Europe's most valuable startup. This represents a 20% increase from its 2021 valuation of $33 billion.  https://lnkd.in/g9KrJH9y Route raised $40 million at a $1.4 billion post-valuation in a Series C led by Hanaco VC. The company offers post-purchase tracking for online shoppers and collaborates with 13,000 brands worldwide. In 2023, its revenue hit $100 million. https://lnkd.in/gDbxv_nf

UNICORN WATCH Recent funding rounds have seen significant investments in various tech sectors, with notable deals in digital payments, cybersecurity, and AI. Here's a brief overview of the latest major funding announcements: Clip secured $100 million at a $2 billion valuation from Morgan Stanley and an undisclosed investor. The Latin American company, leading digital payments solutions in Mexico, will use the funding to continue growing in its home market. https://lnkd.in/g6ggYkEF Huntress locked up $150 million at a $1.5 billion valuation in a funding round led by Kleiner Perkins, Meritech Capital, and Sapphire Ventures. The cybersecurity company focuses on protecting small and mid-sized businesses that are often underserved and under-protected. https://lnkd.in/e3TXKnZ2 Semperis raised $125 million at a valuation of over $1 billion in a funding round led by J.P. Morgan and Hercules Capital. More than 90% of Fortune 100 companies rely on Microsoft's Active Directory, and Semperis specializes in IT security. https://lnkd.in/eS-7WZy5 Cerebras Systems has reportedly confidentially filed an IPO with regulators. The AI chip maker, a rival to Nvidia, aims to have its offering on the Nasdaq, possibly later this year. https://lnkd.in/gizykC44 𝘛𝘩𝘪𝘴 𝘪𝘴 𝘯𝘰𝘵 𝘢 𝘳𝘦𝘤𝘰𝘮𝘮𝘦𝘯𝘥𝘢𝘵𝘪𝘰𝘯 𝘰𝘳 𝘰𝘧𝘧𝘦𝘳 𝘵𝘰 𝘣𝘶𝘺 𝘰𝘳 𝘴𝘦𝘭𝘭 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘪𝘦𝘴, 𝘢𝘯𝘥 𝘪𝘴 𝘯𝘰𝘵 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘢𝘥𝘷𝘪𝘤𝘦. 𝘛𝘩𝘦 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘸𝘪𝘵𝘩𝘪𝘯 𝘵𝘩𝘪𝘴 𝘱𝘰𝘴𝘵, 𝘪𝘯𝘤𝘭𝘶𝘥𝘪𝘯𝘨 𝘢𝘯𝘺 𝘷𝘢𝘭𝘶𝘢𝘵𝘪𝘰𝘯𝘴, 𝘪𝘴 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘱𝘶𝘣𝘭𝘪𝘤 𝘴𝘰𝘶𝘳𝘤𝘦𝘴 𝘭𝘪𝘯𝘬𝘦𝘥 𝘣𝘦𝘭𝘰𝘸, 𝘢𝘯𝘥 𝘩𝘢𝘴 𝘯𝘰𝘵 𝘣𝘦𝘦𝘯 𝘪𝘯𝘥𝘦𝘱𝘦𝘯𝘥𝘦𝘯𝘵𝘭𝘺 𝘷𝘦𝘳𝘪𝘧𝘪𝘦𝘥 𝘣𝘺 𝘏𝘪𝘪𝘷𝘦.

UNICORN WATCH THIS WEEK: Xcimer has secured $100 million to develop a prototype laser for nuclear fusion. Concurrently, Cohere has raised $450 million and is in discussions to raise more. Cohere secured $450 million from investors such as NVIDIA and Salesforce as the first part of a funding round targeting a $5 billion valuation. The Canadian AI company was valued at $2.2 billion last June. Lenskart.com is valued at $5 billion after Temasek and Fidelity Investments invested $200 million into the company through a secondary sale. Fidelity is a new investor, while Temasek added to their current stake. Xcimer Energy Corporation has locked up $100 million in a Series A led by Hedosophia. It specializes in nuclear fusion and is using the funding to construct a 100-foot-long, 60,000-square-foot laser-driven fusion system. Pika landed $80 million at a $470 million valuation. Investors in the AI video-generation startup included Greycroft, Lightspeed, and Spark Capital. The company's 13-person team includes former AI researchers from Uber, Meta, and Google. Storyblok raised $80 million in a Series C led by Brighton Park Capital. Its content management system is used by over 200,000 developers, and the funding will accelerate its growth in the US and Europe. BabylonChain Inc. obtained  $70 million in a financing round led by Paradigm. The startup constructs infrastructure for a Bitcoin staking protocol, enabling proof-of-stake systems to acquire staking capital from Bitcoin. Nium attained $50 million at a $1.4 billion valuation in a 30% down round. The fintech aims to IPO in the next 18 months, and the funding will be used to double down on mergers and acquisitions. restor3d sourced $55 million in a Series A led by Summers Value Partners LLC. The startup manufactures 3D printed orthopedic implants, providing a solution to offer orthopedics that better fit individual patients. Sword Health bagged $30 million at a $3 billion valuation, with a secondary round allowing employees and early investors to sell up to $100 million of equity. CEO Virgílio (“V”) Bento said that the company could go public in 2025. 𝘖𝘯𝘭𝘺 𝘢𝘤𝘤𝘳𝘦𝘥𝘪𝘵𝘦𝘥 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴 𝘤𝘢𝘯 𝘣𝘶𝘺 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘏𝘪𝘪𝘷𝘦. 𝘛𝘩𝘪𝘴 𝘪𝘴 𝘯𝘰𝘵 𝘢 𝘳𝘦𝘤𝘰𝘮𝘮𝘦𝘯𝘥𝘢𝘵𝘪𝘰𝘯 𝘰𝘳 𝘰𝘧𝘧𝘦𝘳 𝘵𝘰 𝘣𝘶𝘺 𝘰𝘳 𝘴𝘦𝘭𝘭 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘪𝘦𝘴, 𝘢𝘯𝘥 𝘪𝘴 𝘯𝘰𝘵 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘢𝘥𝘷𝘪𝘤𝘦. 𝘛𝘩𝘦 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘸𝘪𝘵𝘩𝘪𝘯 𝘵𝘩𝘪𝘴 𝘱𝘰𝘴𝘵, 𝘪𝘯𝘤𝘭𝘶𝘥𝘪𝘯𝘨 𝘢𝘯𝘺 𝘷𝘢𝘭𝘶𝘢𝘵𝘪𝘰𝘯𝘴, 𝘢𝘳𝘦 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘱𝘶𝘣𝘭𝘪𝘤 𝘴𝘰𝘶𝘳𝘤𝘦𝘴 𝘭𝘪𝘯𝘬𝘦𝘥 𝘣𝘦𝘭𝘰𝘸, 𝘢𝘯𝘥 𝘩𝘢𝘷𝘦 𝘯𝘰𝘵 𝘣𝘦𝘦𝘯 𝘪𝘯𝘥𝘦𝘱𝘦𝘯𝘥𝘦𝘯𝘵𝘭𝘺 𝘷𝘦𝘳𝘪𝘧𝘪𝘦𝘥 𝘣𝘺 𝘏𝘪𝘪𝘷𝘦. #technews #startups #privatemarkets #unicorns #ipo #venturecapital

UNICORN WATCH THIS WEEK: Elon Musk's xAI has officially announced its $6 billion Series B funding round. Meanwhile, in the clean tech sector, hundreds of millions are secured in financing by Cloover and Syre. xAI officially announced its $6 billion Series B at a $24 billion post-money valuation. Investors include Valor Equity Partners, Andreessen Horowitz, Sequoia Capital, among others. xAI still trails behind OpenAI's valuation of $86 billion. Grafana Labs is in talks to raise between $300 million to $400 million at a $6 billion valuation in a flat round. The fundraising effort is reportedly being led by Lightspeed and GIC. Flipkart is set to receive an investment of nearly $350 million from Google. The startup, now valued at $36 billion, currently captures approximately 48% of the Indian e-commerce market. Perplexity is discussing raising $250 million at a $3 billion valuation in a round led by Bessemer Venture Partners. This would mark a threefold increase in the valuation of the AI-powered search engine. Cloover locked up $114 million in equity and debt financing led by Lowercarbon Capital. Cloover provides software and financing solutions for SME solar installers, allowing them to compete with larger corporations. Solutions by Text secured $110 million in financing led by Edison Partners and StepStone Group. The startup enables individuals to pay bills and apply for loans through text messaging. It has tripled its revenue since its $35 million fundraise in 2021. Syre raised $100 million in a Series A round led by TPG Rise Climate. Backed by H&M, the company aims to address fashion pollution by focusing on recycling polyester, with the goal of eventually producing 3% of the world's polyester. Infra.Market secured $50 million at a $2.5 billion valuation in a flat round. The company, which supplies building materials, will use the funds raised to enter new global markets. CoreWeave is gearing up for an IPO in the first half of 2025. This follows its fundraising efforts in May, where it secured $1.1 billion in equity financing and $7.5 billion in debt financing. 𝘖𝘯𝘭𝘺 𝘢𝘤𝘤𝘳𝘦𝘥𝘪𝘵𝘦𝘥 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴 𝘤𝘢𝘯 𝘣𝘶𝘺 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘏𝘪𝘪𝘷𝘦. 𝘛𝘩𝘪𝘴 𝘪𝘴 𝘯𝘰𝘵 𝘢 𝘳𝘦𝘤𝘰𝘮𝘮𝘦𝘯𝘥𝘢𝘵𝘪𝘰𝘯 𝘰𝘳 𝘰𝘧𝘧𝘦𝘳 𝘵𝘰 𝘣𝘶𝘺 𝘰𝘳 𝘴𝘦𝘭𝘭 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘪𝘦𝘴, 𝘢𝘯𝘥 𝘪𝘴 𝘯𝘰𝘵 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘢𝘥𝘷𝘪𝘤𝘦. 𝘛𝘩𝘦 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘸𝘪𝘵𝘩𝘪𝘯 𝘵𝘩𝘪𝘴 𝘱𝘰𝘴𝘵, 𝘪𝘯𝘤𝘭𝘶𝘥𝘪𝘯𝘨 𝘢𝘯𝘺 𝘷𝘢𝘭𝘶𝘢𝘵𝘪𝘰𝘯𝘴, 𝘢𝘳𝘦 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘱𝘶𝘣𝘭𝘪𝘤 𝘴𝘰𝘶𝘳𝘤𝘦𝘴 𝘭𝘪𝘯𝘬𝘦𝘥 𝘣𝘦𝘭𝘰𝘸, 𝘢𝘯𝘥 𝘩𝘢𝘷𝘦 𝘯𝘰𝘵 𝘣𝘦𝘦𝘯 𝘪𝘯𝘥𝘦𝘱𝘦𝘯𝘥𝘦𝘯𝘵𝘭𝘺 𝘷𝘦𝘳𝘪𝘧𝘪𝘦𝘥 𝘣𝘺 𝘏𝘪𝘪𝘷𝘦. #technews #startups #privatemarkets #unicorns #ipo #venturecapital

UNICORN WATCH THIS WEEK: Defense technology companies, Anduril and Helsing are potentially raising hundreds of millions. CoreWeave secured billions in debt financing to expand its AI infrastructure. CoreWeave secured $7.5 billion in debt financing, led by Blackstone and Magnetar. The financing will be used to expand its AI infrastructure and comes on the heels of a $1 billion Series C round earlier this month. Anduril Industries is aiming to raise $1.5 billion at a valuation of $12.5 billion. Last year, the military defense startup informed investors that its revenue had doubled to $500 million. Scale AI secured $1 billion at a $13.8 billion valuation in a round led by Accel. Tech giants such as NVIDIA, Meta, and Amazon participated in the round. Helsing is allegedly raising $400 million at a $4 billion valuation in Series C led by General Catalyst. The defense tech startup, specializing in AI, has successfully secured contracts with European militaries. Groq is reportedly seeking out $300 million in a new fundraise and has enlisted Morgan Stanley to help with the fundraise. It develops hardware and software designed for AI, and has positioned itself as a rival to NVIDIA. DeepL obtained $300 million at a $2 billion post-money valuation in a round led by Index Ventures. The company is developing AI that will automate text translation and writing processes. Sigma Computing locked up $200 million at a $1.5 billion valuation in a Series D led by Avenir Growth Capital and Spark Capital. The company develops user-friendly data analytics tools that connect to platforms like Snowflake and BigQuery. Farcaster, a blockchain-based social media platform, raised $150 million in a funding round led by Paradigm. Farcaster is built on Ethereum and has had 350,000 paid sign-ups since October. poolside is attempting to raise funds at a valuation near $2 billion. Founded by former GitHub CTO Jason Warner, the AI startup is developing technology to automate coding. Since last April, it has raised a total of $126 million. 𝘖𝘯𝘭𝘺 𝘢𝘤𝘤𝘳𝘦𝘥𝘪𝘵𝘦𝘥 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴 𝘤𝘢𝘯 𝘣𝘶𝘺 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘏𝘪𝘪𝘷𝘦. 𝘛𝘩𝘪𝘴 𝘪𝘴 𝘯𝘰𝘵 𝘢 𝘳𝘦𝘤𝘰𝘮𝘮𝘦𝘯𝘥𝘢���𝘪𝘰𝘯 𝘰𝘳 𝘰𝘧𝘧𝘦𝘳 𝘵𝘰 𝘣𝘶𝘺 𝘰𝘳 𝘴𝘦𝘭𝘭 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘪𝘦𝘴, 𝘢𝘯𝘥 𝘪𝘴 𝘯𝘰𝘵 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘢𝘥𝘷𝘪𝘤𝘦. 𝘛𝘩𝘦 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘸𝘪𝘵𝘩𝘪𝘯 𝘵𝘩𝘪𝘴 𝘱𝘰𝘴𝘵, 𝘪𝘯𝘤𝘭𝘶𝘥𝘪𝘯𝘨 𝘢𝘯𝘺 𝘷𝘢𝘭𝘶𝘢𝘵𝘪𝘰𝘯𝘴, 𝘢𝘳𝘦 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘱𝘶𝘣𝘭𝘪𝘤 𝘴𝘰𝘶𝘳𝘤𝘦𝘴 𝘭𝘪𝘯𝘬𝘦𝘥 𝘣𝘦𝘭𝘰𝘸, 𝘢𝘯𝘥 𝘩𝘢𝘷𝘦 𝘯𝘰𝘵 𝘣𝘦𝘦𝘯 𝘪𝘯𝘥𝘦𝘱𝘦𝘯𝘥𝘦𝘯𝘵𝘭𝘺 𝘷𝘦𝘳𝘪𝘧𝘪𝘦𝘥 𝘣𝘺 𝘏𝘪𝘪𝘷𝘦. #technews #startups #privatemarkets #unicorns #ipo #venturecapital

CEO Sim Desai was featured on CNBC's "The Exchange," talking about how accredited investors can purchase new, pre-IPO, high-growth startup stock on Hiive. *Accessing Hiive is for accredited investors only. The private securities market is highly speculative, risky, and inherently illiquid. Securities are offered by Hiive Markets Limited, member of FINRA / SIPC

UNICORN WATCH THIS WEEK: AI for self-driving cars receives a financial injection, with Wayve securing over $1 billion in funding. Also, alternative protein producer Meati Foods lands a hefty $100 million investment for its mushroom products. Wayve locked up $1.05 billion in a funding round led by SoftBank Investment Advisers, with participation from Microsoft and NVIDIA. The investment will fuel the UK company's development of AI for self-driving cars. Wiz secured $1 billion at a $12 billion valuation in a funding round co-led by Andreessen Horowitz, Lightspeed, and Thrive Capital. Since 2020, Wiz has raised $1.9 billion. Wiz is reportedly abandoning its $200 million acquisition of rival Lacework. After advancing in talks for the acquisition, plans are said to have fallen apart during the due diligence process. Mistral AI is potentially raising $600 million at a $6 billion valuation from existing investors General Catalyst and Lightspeed. This is a three fold increase from its $2 billion valuation at the end of last year. Monzo Bank raised $190 million at a $5.2 billion valuation in a top-up round. Investors included Hedosophia, Alphabet Inc. Inc and CapitalG. The challenger bank is looking to expand into the US where traditional banks have dominated. Transcarent raised $126 million at a $2.2 billion valuation in a Series D led by General Catalyst and 7wireVentures. The digital health startup helps businesses navigate the complexities of managing their employee benefit programs. meati™ raised $100 million in a Series C1 led by Grosvenor Food & AgTech. The company's mycelium-derived alternative protein is also expanding into an additional 2000 retail locations. LINE MAN Wongnai is contemplating an IPO in either Thailand or the U.S. in 2025. It has not yet finalized the location of its IPO. The company operates an on-demand food delivery service in Thailand and holds a valuation of over 1 billion. OYO is in talks with investors to secure funding at a valuation of $3 billion or lower. This round could potentially slash its valuation by more than half from its peak of $10 billion in 2019. 𝘖𝘯𝘭𝘺 𝘢𝘤𝘤𝘳𝘦𝘥𝘪𝘵𝘦𝘥 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴 𝘤𝘢𝘯 𝘣𝘶𝘺 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘏𝘪𝘪𝘷𝘦. 𝘛𝘩𝘪𝘴 𝘪𝘴 𝘯𝘰𝘵 𝘢 𝘳𝘦𝘤𝘰𝘮𝘮𝘦𝘯𝘥𝘢𝘵𝘪𝘰𝘯 𝘰𝘳 𝘰𝘧𝘧𝘦𝘳 𝘵𝘰 𝘣𝘶𝘺 𝘰𝘳 𝘴𝘦𝘭𝘭 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘪𝘦𝘴, 𝘢𝘯𝘥 𝘪𝘴 𝘯𝘰𝘵 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘢𝘥𝘷𝘪𝘤𝘦. 𝘛𝘩𝘦 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘸𝘪𝘵𝘩𝘪𝘯 𝘵𝘩𝘪𝘴 𝘱𝘰𝘴𝘵, 𝘪𝘯𝘤𝘭𝘶𝘥𝘪𝘯𝘨 𝘢𝘯𝘺 𝘷𝘢𝘭𝘶𝘢𝘵𝘪𝘰𝘯𝘴, 𝘢𝘳𝘦 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘱𝘶𝘣𝘭𝘪𝘤 𝘴𝘰𝘶𝘳𝘤𝘦𝘴 𝘭𝘪𝘯𝘬𝘦𝘥 𝘣𝘦𝘭𝘰𝘸, 𝘢𝘯𝘥 𝘩𝘢𝘷𝘦 𝘯𝘰𝘵 𝘣𝘦𝘦𝘯 𝘪𝘯𝘥𝘦𝘱𝘦𝘯𝘥𝘦𝘯𝘵𝘭𝘺 𝘷𝘦𝘳𝘪𝘧𝘪𝘦𝘥 𝘣𝘺 𝘏𝘪𝘪𝘷𝘦. #technews #startups #privatemarkets #unicorns #ipo #venturecapital