Welcome to Startups Weekly — your weekly recap of everything you can’t miss from the world of startups. Sign up here to get it in your inbox every Friday.
In this edition, we delve into the world of startups to bring you the latest news. From an AI startup revolutionizing creative video production to a company raising funds to combat diaper rash, the startup ecosystem is buzzing with innovation and investment.
Most interesting startup stories from the week
Investors are putting their money into startups like never before, especially those focused on defense and AI. Helsing, a defense startup using AI to enhance battlefield strategies, has raised a staggering €450 million ($487 million) to strengthen its offerings, including a new entity in Estonia dedicated to safeguarding the Baltic states. On the other side of the Atlantic, U.S. venture funds are evolving their strategies by bringing in military veterans and former Department of Defense officials as investors.
While some startups are soaring in valuation, others are struggling to attract funding. PitchBook data reveals that 2024 has seen record-high startup valuations, but the benefits are reserved for a select few.
Turning AI foe into friend: DreamFlare, a startup founded by a seasoned filmmaker and a former Google employee, is on a mission to empower creators with AI technology. By providing support in story development and distribution, DreamFlare aims to enable artists to produce engaging content and generate income.
Draw your anxiety away: Scribble Journey offers a unique solution to the mental health crisis by utilizing art therapy in its app to help users explore and express their emotions.
Most interesting fundraises this week
The international startup scene is also witnessing significant activity, with companies like Nala raising $40 million to facilitate international remittances.
Regard, a startup utilizing AI to assist doctors in diagnosing patients accurately, recently secured $61 million in funding. Kudos, a company innovating in the baby care industry by creating diapers lined with 100% cotton, raised $3 million to address diaper rash issues.
Most interesting fund news this week
Index Ventures recently announced a fund of $2.3 billion to continue its support for startups, while Alpine Space Ventures raised $184 million to invest in space industry companies. Kearny Jackson secured a $65 million funding round to back B2B SaaS and fintech infrastructure startups.
Last but not least
Arianna Huffington and Sam Altman joined forces to create Thrive AI Health, a health coaching startup that leverages AI to encourage healthier lifestyles. Backed by Thrive and the OpenAI Startup Fund, Thrive AI Health aims to provide individuals with personalized guidance for better health outcomes.
