StartupSuperb

Tag: Startups

  • OpenAI in Discussions to Secure Billion Funding at a 0 Billion Valuation

    OpenAI in Discussions to Secure $40 Billion Funding at a $340 Billion Valuation

    OpenAI may already have substantial financial resources at its disposal. However, it is preparing to acquire additional funds, as reported by The Wall Street Journal.

    According to The WSJ, OpenAI is currently negotiating to raise as much as $40 billion in a funding round, which would place the startup’s valuation at an impressive $340 billion. SoftBank is expected to spearhead this round, investing between $15 billion and $25 billion into the developer of ChatGPT, as stated by The WSJ.

    If OpenAI successfully concludes this funding round, it would be a significant achievement for the startup, which was valued at $157 billion in October. The WSJ reports that OpenAI plans to utilise the new funds to support its ongoing operational deficits and advance its Stargate initiative, an ambitious project focused on establishing AI data centres across the United States.

    In 2024, OpenAI reportedly incurred a loss of approximately $5 billion against revenues amounting to $3.7 billion. These losses could continue to escalate. Together with partners like SoftBank, OpenAI aims to allocate billions of dollars to kickstart the Stargate project.

  • Reid Hoffman’s Manas AI Secures .6M: A Different Path in AI Drug Discovery Financing

    Reid Hoffman’s Manas AI Secures $24.6M: A Different Path in AI Drug Discovery Financing

    Reid Hoffman, the co-founder of LinkedIn, and Siddhartha Mukherjee, a prominent cancer researcher and the author of “The Emperor of All Maladies,” have launched an innovative startup focused on AI-driven drug discovery known as Manas AI. The initial emphasis of the company will be on breast cancer, prostate cancer, and lymphoma. So far, Manas AI has secured $24.6 million in seed funding from Hoffman, General Catalyst, and Greylock.

    In comparison to other firms in the AI-driven drug development arena, Manas AI’s funding appears modest. For instance, last year, Xaira, a company claiming readiness to commence drug development, launched with a significant $1 billion in initial funding. Similarly, Treeline Biosciences, another firm leveraging AI for drug discovery, raised $422 million the previous year, as reported by Endpts.

    Manas AI states that it will harness AI to design molecules, which will subsequently be tested in laboratory settings. During a presentation of his new book “Superagency,” it was noted that Hoffman highlighted this approach. Additionally, Manas AI indicates it will utilise Microsoft’s cloud platform, Microsoft Azure, along with the company’s extensive expertise in AI, to aid in the development of new medicines.

    Hoffman maintains strong connections with Microsoft, particularly since the tech giant acquired his former company, LinkedIn, in a landmark deal in 2016.

  • DeepSeek Puts Signups on Hold Following Cybersecurity Breach

    DeepSeek Puts Signups on Hold Following Cybersecurity Breach

    DeepSeek, a Chinese AI startup that gained significant attention last week with the launch of its open-source R1 model, has halted new user registrations.

    According to CNBC, the company has temporarily suspended new account sign-ups this morning due to a cyberattack. However, existing users can still access their accounts without any issues.

    StartupSuperb has contacted DeepSeek for a statement and will provide updates if a response is received.

    This situation arises just days after DeepSeek became a hot topic in the AI sector, spurred by excitement surrounding its R1 model. The company asserts that its reasoning model surpasses OpenAI’s o1 across various benchmarks. Additionally, today marks the launch of a new family of image models.

    DeepSeek’s application achieved 2.6 million downloads by Sunday, as reported by Appfigures, with 1 million of those downloads occurring just last Friday.

  • Perplexity Makes a Bold Move: New Bid for TikTok Unveiled

    Perplexity Makes a Bold Move: New Bid for TikTok Unveiled

    Perplexity AI has put forward an updated proposal to merge with TikTok, allowing the U.S. government to gain up to 50 percent ownership of the newly formed entity.

    The Associated Press initially reported on this revised proposal. A source familiar with the bid confirmed to StartupSuperb that the details shared by the AP are correct.

    The AI search engine previously suggested establishing a new company by combining Perplexity, TikTok US, and additional equity investors. The updated proposal indicates that the government would acquire its share following an initial public offering of at least $300 million, while TikTok’s existing owner ByteDance from China may still retain a stake, as noted by the AP.

    Perplexity reportedly modified its proposal in response to feedback from the administration of President Donald Trump.

    Last weekend, TikTok faced a temporary shutdown due to legislation requiring ByteDance to divest from the app or risk a ban in the United States. The platform resumed operations after Trump announced his intention to sign an executive order allowing an extension of the sale deadline. He also expressed his desire for the U.S. to hold “50% ownership,” although it remained unclear whether he was referring to the government or U.S. investors.

    Additionally, a report this week indicated that the White House was negotiating an agreement whereby Oracle, which currently manages the infrastructure for TikTok’s U.S. operations, would take control. When questioned, Trump mentioned that he had been in discussions with “numerous individuals regarding TikTok” but had “not engaged with Oracle.”

  • “Retro Biosciences: Sam Altman’s Ambitious Journey to Unlocking Human Longevity with Billion Funding”

    “Retro Biosciences: Sam Altman’s Ambitious Journey to Unlocking Human Longevity with $1 Billion Funding”

    Sam Altman, the CEO of OpenAI, is increasing his investment in Retro Biosciences, a San Francisco-based biotech startup aiming to extend the human lifespan by an additional 10 years beyond what is considered a healthy duration.

    Previously, Altman contributed the full seed funding of $180 million for Retro Biosciences. The startup is now seeking to raise a Series A round of $1 billion, with Altman set to participate, as reported by the Financial Times.

    Retro Biosciences aims to initiate trials for medications targeting diseases such as Alzheimer’s. Recently, the company has collaborated with OpenAI to develop a model that transforms ordinary cells into stem cells.

    Joe Betts-LaCroix, the CEO, expressed an ambition to accelerate the process of discovering and developing a drug “in the 2020s.”

    This venture adds to the growing list of billionaire-funded longevity projects, which include Altos Labs, established with $3 billion in 2022 under the backing of Jeff Bezos, and Unity Biotechnology, which has the support of both Bezos and Peter Thiel.

  • Pipeshift Secures .5 Million in Funding Round Led by Y Combinator and SenseAI Ventures

    Pipeshift Secures $2.5 Million in Funding Round Led by Y Combinator and SenseAI Ventures

    AI Infrastructure Startup Pipeshift Secures $2.5 Million in Seed Round Funding

    Pipeshift, an innovative AI infrastructure startup, has successfully secured $2.5 million in a seed funding round led by Y Combinator and SenseAI Ventures. This funding round also included contributions from notable investors such as Arka Venture Labs, Good News Ventures, Nivesha Ventures, Astir VC, GradCapital, and MyAsiaVC.

    Prominent Silicon Valley angel investors participated in this funding round, including:

    • Kulveer Taggar, CEO of Zuess
    • Umur Cubukcu, CEO of Ubicloud and former Head of PostgreSQL at Azure
    • Krishna Mehra, former Head of Engineering at Meta and co-founder of Capillary Technologies

    Introduction of Next-Generation Platform-as-a-Service

    Pipeshift is set to unveil a next-generation Platform-as-a-Service (PaaS) designed for engineering teams, empowering them to orchestrate AI workloads seamlessly across any infrastructure—whether cloud-based or on-premises—while providing exceptional speed and control.

    Addressing Enterprise Needs with Flexibility

    In contrast to current market players that function merely as GPU brokers offering generic solutions, Pipeshift specifically caters to enterprise demands for greater control and flexibility in infrastructure. The platform delivers a comprehensive MLOps stack that allows enterprises to:

    • Train
    • Deploy
    • Scale open-source GenAI models, including LLMs, vision models, audio models, and image models

    All operations can be conducted across any cloud or on-premises GPUs.

    Building Partnerships for Success

    With collaborations involving over 30 companies, including NetApp, Pipeshift strives to become the preferred partner for organisations aiming to realise the potential of AI while ensuring they maintain control over their infrastructure and data.

  • Rollfi’s Journey: From Cryptocurrency to Payroll Solutions and Successful Acquisition

    Rollfi’s Journey: From Cryptocurrency to Payroll Solutions and Successful Acquisition

    Kirubha Perumalsamy established Rollfi during the peak of the cryptocurrency market in 2021, aiming to assist companies with crypto payroll processing.

    Following the downturn in the crypto market, Rollfi redefined its strategy to become an embedded payroll service provider. The company formed partnerships with financial services firms to deliver payroll and benefits solutions to their clients.

    This strategic shift led to Rollfi’s acquisition by Priority Tech Ventures for an undisclosed sum. Priority Tech Ventures is part of the publicly listed payments and banking technology provider, Priority Technology Holdings. Prior to the acquisition, Rollfi had secured a total of $3.25 million in funding. Perumalsamy mentioned that the company was actively seeking funds when the acquisition opportunity arose.

    The team recognised that their chances of success in the market would significantly increase by blending the agility and enthusiasm of a startup with the robust foundation provided by Priority.

    The entire team is set to remain with Priority Tech Ventures post-transaction, continuing to operate as an independent entity under the Priority umbrella.

  • Everstone to Purchase Wingify from Paras Chopra for 0 Million

    Everstone to Purchase Wingify from Paras Chopra for $200 Million

    Wingify Acquisition by Everstone

    SaaS company Wingify is currently undergoing an acquisition by the private equity firm Everstone, as reported by sources familiar with the matter to Startup Superb. This acquisition is anticipated to be one of the most significant transactions within the SaaS industry and marks a major achievement for a startup that has functioned on a bootstrapped basis since its establishment.

    TechCrunch was the first to announce this development, stating that the deal is expected to be valued at approximately $200 million.

    About Wingify

    Founded by Paras Chopra, Wingify provides Software as a Service (SaaS) solutions for online businesses, assisting them in enhancing their conversion rates through their unique tool, the Visual Website Optimizer (VWO).

    • Annual recurring revenue has reached $50 million.
    • Revenue from operations rose to Rs 288.61 crore in FY24, up from Rs 220.60 crore in FY23.
    • Profit after tax increased by 30% year-on-year, amounting to Rs 61.04 crore.

    Chopra’s Entrepreneurial Journey

    In addition to Wingify, Chopra has co-founded two other ventures:

    • VWO
    • Nintee

    Funded by Peak XV Partners, Kunal Shah, among others, Nintee was closed in April of the previous year, with the firm returning most of the capital it had attracted from investors.

    According to Chopra’s LinkedIn profile, he has served as the founder and independent director of Turing’s Dream since April of the previous year.

  • Eximius Ventures Launches Million Fund to Fuel Pre-Seed Innovation

    Eximius Ventures Launches $30 Million Fund to Fuel Pre-Seed Innovation

    Eximius Ventures Launches Second Fund Targeting $30 Million

    Eximius Ventures, a venture capital firm focused on pre-seed investments, has announced the launch of its second fund, aimed at raising a total of $30 million. Fund II is set to strategically invest in 25 to 30 companies across various sectors, including:

    • Fintech
    • Artificial Intelligence (AI) / Software-as-a-Service (SaaS)
    • Frontier technology
    • Consumer technology

    The firm intends to begin investments with an initial cheque of $500,000 for each selected company. Additionally, half of the fund’s total capital will be allocated for follow-on investments to bolster its promising portfolio companies.

    Initial Investments Made

    As stated by Eximius Ventures, Fund II has already made investments in four companies within the realms of consumer technology and AI/SaaS. These investments have been executed either independently or in partnership with other institutional investors.

    Commitment to Pre-Seed Startups

    Eximius Ventures is steadfast in its commitment to pre-seed startups, aiming to foster momentum within India’s innovation landscape. The venture capital firm seeks to bridge the gap for entrepreneurs in search of their first institutional funding while empowering them to prosper in an increasingly competitive global market. With this new fund, Eximius Ventures aspires to accelerate growth and establish enduring collaborations with visionary entrepreneurs.

    Building on Past Success

    In 2021, Eximius Ventures introduced its first fund, which was valued at $10 million. The launch of Fund II facilitates further scaling of its support for innovative ventures. The capital for this fund will be sourced from a diverse array of limited partners (LPs), including:

    • High-net-worth individuals (HNIs)
    • Founder-investors
    • Family offices
    • Global Japanese corporate venture companies (CVCs)

    Performance of Fund I

    Eximius Ventures’ inaugural Fund I has successfully invested in 23 companies. It has reported that approximately 60% of these portfolio companies have secured multiple up-round investments from notable global investors, achieving an Internal Rate of Return (IRR) exceeding 40%. Fund II aims to continue this successful trajectory by employing a similar investment strategy. Notable investments from Fund I include:

    • Jar
    • Finarkein
    • Vegapay, a plug-and-play credit card platform
    • Stan, a gamified engagement platform

  • Mistral AI Sets Its Sights on an Exciting IPO Adventure

    Mistral AI Sets Its Sights on an Exciting IPO Adventure

    The French artificial intelligence laboratory, Mistral, is pursuing an initial public offering, as co-founder and CEO Arthur Mensch communicated during an interview with Bloomberg at the World Economic Forum in Davos.

    Mistral is described as “not for sale,” with Mensch stating that the organisation intends to establish an office in Singapore to target the Asia-Pacific market while expanding in Europe and the United States. “Of course, an IPO is the plan,” he stated.

    Founded in 2023 by Mensch along with former researchers from Google’s DeepMind and Meta, Mistral is often viewed as Europe’s counterpart to American leaders such as OpenAI. The laboratory develops AI models and services that rival those of OpenAI and other competitors, including a platform resembling ChatGPT, named Le Chat.

    To date, Mistral has successfully secured approximately $1.14 billion in funding from prominent investors such as Andreessen Horowitz, General Catalyst, and Lightspeed Venture Partners. The organisation was reportedly last evaluated at roughly $6 billion.