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TechCrunch+ Roundup: Raising follow-on AI funding, Instacart's IPO, both sides on SB 54 | TechCrunch

Sep 12, 2023 - techcrunch.com
AI startups seeking to raise a Series B round in the next six to 12 months may face a challenging fundraising environment, according to Isaac Madan, CEO and co-founder of Nightfall AI. In a post for TC+, Madan outlined strategies his team used to secure funding and provided a list of questions investors are likely to ask. He also offered advice on go-to-market strategy. Meanwhile, the U.S. Federal Trade Commission (FTC) is preparing for aggressive antitrust enforcement in the AI sector, according to attorneys at Perkins Coie.

In other news, Instacart's IPO price range could potentially give it a fully diluted market cap of between $8.6 billion and $9.3 billion. A new California law could require VC firms to track and report capital allocation across gender, racial, and ethnic lines. Lastly, Y Combinator's Summer 2023 Demo Days saw eight founders who had previously gone through the 11-week boot camp.

Key takeaways:

  • Startups hoping to use AI as a springboard to their next funding round may face a challenging fundraising environment in the next six to 12 months, according to Isaac Madan, CEO and co-founder of Nightfall AI.
  • The U.S. Federal Trade Commission (FTC) is making a case for aggressive antitrust enforcement in the AI-powered products and services market.
  • Instacart's S-1 filing suggests that the delivery platform could reach a fully diluted market cap potential of between $8.6 billion and $9.3 billion after its upcoming IPO.
  • A bill headed to the desk of California governor Gavin Newsom would require the state’s VC firms to track and report how they allocate capital across gender, racial and ethnic lines.
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