Welcome to Startups Weekly, your one-stop destination for all the buzz from the startup ecosystem. Each week, we bring you noteworthy updates, from fundraising victories worldwide to exit stories and industry trends. This week, the spotlight shines on India's tech IPOs, which have outpaced the U.S., and on startups that could revolutionize data centers to curb their environmental footprints.
In India, Table Space—a managed workspace provider—is gearing up for an IPO boasting a $2.5 billion valuation. As observed by TechCrunch’s Manish Singh, India has surpassed the U.S. in tech IPOs, with valuation multiples peaking in South Asia. In cybersecurity, Cyera, a unicorn in the space, marked its maiden acquisition by purchasing Trail Security, a data loss prevention firm, for $162 million. Cyera aims to bolster its own funding, targeting $200 million with a valuation approaching $3 billion.
Meanwhile, Amplitude, known for analytics software, acquired Command AI, an app engagement startup, for over $45 million. This acquisition brings a significant part of Command AI's team into Amplitude's fold. However, the path isn't always smooth, as seen with CapWay, a fintech company from Y Combinator’s summer 2020 cohort. Despite its mission to serve 'banking deserts,' CapWay is closing its operations.
In exciting fundraising news, the allure of making data centers more efficient continues to attract investors. X-Energy, a nuclear tech startup, raised $500 million led by Amazon’s Climate Pledge Fund, as tech giants explore cleaner power sources. Lightmatter secured $400 million for its photonic chips aimed at reducing energy consumption, and Xscape Photonics raised $57 million to expand their team and production capabilities.
Meanwhile, Japan’s Ookuma Diamond Device plans to build a semiconductor facility with its $27 million raise, focusing on chips that manage radioactive waste. Accessibility is also a key focus, with Toronto-based Fable grabbing $25 million to advance tools that assist individuals with disabilities. OroraTech, a German startup, raised $25 million to enhance satellite-based wildfire detection.
In the venture capital arena, 20VC, known for its micro-VC roots and founded by podcast host Harry Stebbings, expanded with a $400 million fund aimed at empowering European investments. Buckley Ventures, led by former Product Hunt CEO Josh Buckley, is in pursuit of a $250 million fund, following its prior success with a $337 million fund. Nordic-focused Node.vc, partaking in Europe's vibrant VC landscape, launched a €71 million fund promoting entrepreneurship.
This week also saw the loss of Steve O’Hear, former TechCrunch journalist, whose absence will be deeply felt. Acknowledged by many founders for his influence, his legacy will persist through the work of his firm, O’Hear & Co. Our condolences go to his family and colleagues during this difficult time. Stay tuned for more stories next week, and remember to subscribe for weekly insights straight to your inbox.
