Superplum Bags $15M in Series A Funding; Nvidia Backs UK's Wayve

Superplum Bags $15 Million in Series A Funding 

Noida-based agritech startup, Superplum, secured a hefty $15 million in Series A funding, spearheaded by Erik Ragatz, a former partner turned senior advisor at private equity giant, Hellman & Friedman. This round saw participation from existing backers like Mark Siegel, Dan Rose, and Binny Bansal, amongst others. With this latest injection of capital, Superplum's total funding climbs to nearly $22 million. The startup, founded in 2019 by Shobhit Gupta, operates a direct-from-farm produce supply chain, leveraging cutting-edge tech and cold-chain infrastructure to revolutionize India's produce market. Superplum focuses on enhancing fruit quality, extending shelf life, and bolstering farmer incomes. They boast a premium fruit brand offering consumers top-tier quality across various fruits. The investment will fuel Superplum's expansion, aiding in its mission to overhaul India's produce supply chain.

Nvidia Backs UK Self-Driving Startup Wayve in $1.05 Billion Funding Round

UK self-driving startup Wayve secures a significant boost with a $1.05 billion funding round, backed by US chipmaker Nvidia Corp. and led by SoftBank Group Corp., with Microsoft Corp. also contributing. The investment underscores the growing demand for AI and breathes fresh life into the self-driving car industry. Wayve's technology aims to integrate seamlessly into vehicles, with talks ongoing with various automakers. Founded in 2017, Wayve plans to initially focus on driver assist technology before moving towards fully autonomous vehicles. The funding will support hiring and technological development, with plans to charge car companies a license fee for technology use. Wayve's expansion includes a new research center in Vancouver, highlighting its global ambitions.

Samsung Medison Acquires French AI Medtech Startup Sonio

Samsung's medical equipment arm, Samsung Medison, has acquired French AI medtech startup Sonio, bolstering its AI-powered healthcare solutions. The acquisition provides Samsung Medison access to Sonio's AI development expertise, particularly in obstetrics and gynaecology ultrasound diagnostics. Sonio's flagship product, Sonio Detect, an FDA-approved AI-powered prenatal screening solution, automates ultrasound reporting. Founded in 2020, Sonio has emerged as a leader in AI-driven healthcare innovation, with its technology poised to revolutionize prenatal care. Samsung Medison's strategic move underscores its commitment to advancing medical AI solutions and signifies a significant step towards enhancing diagnostic accuracy and patient care.

Wiz Raises $1 Billion, Now Valued at $12 Billion

Cybersecurity startup Wiz secures a monumental $1 billion in funding, valuing the company at a staggering $12 billion. The round, led by Andreessen Horowitz, Lightspeed Venture Partners, and Thrive Capital, propels Wiz's total funding to $1.9 billion. Co-founder Assaf Rappaport plans to utilize the investment for acquisitions, product development, and talent acquisition. With $100 million in annual recurring revenue after just 18 months and $350 million in 2023, Wiz stands poised for IPO, focusing on customer value and innovation. The company's platform aims to address diverse cybersecurity challenges in cloud environments, targeting Fortune 100 companies globally. Founded by veterans from Microsoft, Wiz eyes expansion and market dominance, prioritizing growth and innovation.

Startup Anxiety Mounts as DoT Mulls Premature Closure of Telecom R&D Scheme

Startups are concerned as the Department of Telecommunications (DoT) contemplates ending the Digital Communication Innovation Square (DCIS) scheme prematurely. Nearly two dozen startups have appealed to the government, stressing the importance of scheme continuity for their research, development, and intellectual property endeavors in the telecom sector. Despite reaching milestones, startups claim to have received only a fraction of their grants, with delays exacerbating their predicament. The potential closure stems from concerns over profitability among a few startups. However, industry voices urge against discontinuation, highlighting the scheme's pivotal role in fostering innovation. DoT officials indicate deliberations on the matter, proposing inclusion of more companies and citing the existing Telecom Technology Development Fund (TTDF). Startups fear a setback to product development and hope for scheme continuation.