Welcome to Startups Weekly — your weekly recap of everything you can’t miss from the world of startups.
This week, we delve into the world of small startup acquisitions, the emergence of new unicorns, wearable AI devices, and VCs backing Kamala Harris. Let’s dive right in.
Most interesting startup stories from the week
In a market where IPOs seem scarce, our attention is drawn to the world of mergers and acquisitions. While not always the most ideal outcome for founders and investors, the trend of startups selling themselves is on the rise.
Canva Acquires Leonardo.ai: Graphic design platform Canva acquires generative AI-powered startup Leonardo.ai, enhancing its AI capabilities. The exact acquisition amount remains undisclosed, but it signifies Canva’s commitment to strengthening its AI offerings. Read more
Airtable Acquihires Dopt: Collaboration company Airtable acquires AI-powered onboarding startup Dopt to bolster its AI development efforts, including enhancing its app creation tool Airtable Cobuilder. Read more
Clutch Sells to Plaiced: Marketplace Clutch, after facing challenges, decides to sell itself to online social network Plaiced, pivoting towards a new chapter. Read more
Bending Spoons Acquires WeTransfer: Bending Spoons expands its portfolio by acquiring file transfer service WeTransfer, showcasing its strategy of acquiring struggling startups. Read more
Most interesting fundraises this week
Rapido Reaches Unicorn Status: Indian bike-taxi startup Rapido attains unicorn status with a $120 million funding round led by WestBridge Capital, disrupting India’s mobility sector. Read more
Flo Health Secures $200 million: Fertility-focused period tracking app Flo Health raises a Series C led by General Atlantic, reaching a $1 billion valuation, showcasing its impact on women’s health. Read more
Harvard Dropout’s Innovation: Avi Schiffmann’s AI companion device, Friend, aims to combat loneliness using AI technology, raising $2.5 million in VC funding and garnering significant investor interest. Read more
Bee’s AI Assistant: Former Twitter employees launch Bee, a wearable AI assistant designed to enhance productivity and organization, securing $7 million in funding. Read more
Knowde Raises $60 million: Chemical marketplace Knowde raises $60 million in funding, highlighting its growth in the industrial sector despite a valuation adjustment. Read more
Most interesting VC and fund news this week
VCs for Kamala: Ahead of the upcoming presidential election, prominent VCs like Reid Hoffman, Vinod Khosla, and Mark Cuban publicly pledge their support for Kamala Harris, creating a group called VCsForKamala to rally support and fundraising efforts. Read more
Cook’s Departure from Tiger: Partner Alex Cook exits Tiger Global, marking another departure from the renowned investment firm, focusing primarily on India investments. Read more
Moxxie Ventures’ Fundraising Success: Emerging VC firm Moxxie Ventures surpasses fundraising goals for its third fund, securing $95 million, signaling strong investor confidence in its underrepresented founder-focused approach. Read more
Last but not least
Autonomous vehicle software startup Applied Intuition completes a $300 million secondary sale, attracting Fidelity Management & Research Company and other investors, further solidifying its position in the market. Read more
