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Money for tech that matters | TechCrunch

Nov 22, 2024 - techcrunch.com
The article discusses the latest developments in the startup world, highlighting key stories, fundraises, and venture capital news. Notable stories include Northvolt's bankruptcy filing, N26's profitable quarter, Wiz's acquisition of Dazz, and Snowflake's agreement to acquire Datavolo. Major fundraises include Zepto's $350 million funding, Oura's $75 million investment from Dexcom, Lighthouse's $370 million Series C round, Tokamak Energy's $125 million funding, Tekever's €70 million Series B round, Lightning AI's $50 million funding, and OneCell Diagnostics' $16 million Series A round.

In venture capital news, Blue Bear closed a $160 million third fund to back AI founders in climate, energy, and industry, while Bling Capital secured $270 million for its fourth fund. The article also notes that defense tech startups have raised almost $3 billion so far in 2024, surpassing 2022's $2.6 billion record.

Key takeaways:

  • Swedish unicorn Northvolt filed for bankruptcy in the U.S., while German fintech unicorn N26 had its first profitable quarter, with a net operating income of €2.8 million ($2.9 million) during the third quarter of 2024.
  • Cybersecurity heavyweight Wiz acquired Dazz, a specialist in security remediation and risk management, for $450 million, and cloud company Snowflake announced it agreed to acquire data pipeline management company Datavolo for an undisclosed sum.
  • Indian quick-commerce startup Zepto raised $350 million in new funding, Finnish smart ring maker Oura raised a $75 million investment, and data analytics platform Lighthouse raised a Series C round of $370 million led by KKR at a $1 billion valuation.
  • Defense tech startups raised almost $3 billion so far in 2024, surpassing 2022’s previous $2.6 billion record and over only 85 deals compared to 113 that year.
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