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Startup land wasn't as quiet this week as you might've expected | TechCrunch

Nov 08, 2024 - techcrunch.com
The article discusses the latest news in the startup world, including interesting stories, fundraises, and venture capital news. Despite the U.S. election, startups like Aravind Srinivas’ AI startup and MoradaUno made headlines. The former provided reliable election insights, while the latter raised a $5.6 million Series A round. Other notable events include the shutdown of Bowery Farming, a merger between Printful and Printify, and a $100 million funding round for DeepRoute.ai.

In terms of venture capital news, Coatue Management is raising $1 billion for AI-focused investments, and Lisbon-based VC firm Faber made a €31 million first close of its third fund. The article also highlights the challenges of fundraising in the post-ZIRP era, with Greylock partner Corinne Riley emphasizing the importance of the quality of annual recurring revenue over its quantity.

Key takeaways:

  • Aravind Srinivas’ AI startup provided reliable insights and maps through its election information hub, standing out among other AI labs during the election.
  • Agtech startup Bowery Farming, once a unicorn after raising more than $700 million, is ceasing operations, according to PitchBook.
  • Chinese autonomous driving technology startup DeepRoute.ai raised $100 million from Great Wall Motor, aiming to roll out its automated driving systems before Tesla takes advantage of the pathway China opened for Full-Service Driving (FSD).
  • Coatue Management is raising $1 billion for future investments in AI-focused companies, having invested in more than 170 VC-backed companies in 2021.
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