### Elon Musk's xAI Valuation Soars

Elon Musk's **xAI** is reportedly in discussions to secure new funding that could value the startup at a staggering **$40 billion**. This would place it at more than **four times the current valuation** of Musk's social media platform, **X**, which has been recently valued at **$9.4 billion** according to **Fidelity** filings.

### Valuation Breakdown

- **xAI** aims to raise funds at a **$40 billion valuation**, significantly outpacing **X**.
- Fidelity has **devalued** its shares of X by almost **79%** since 2022, reflecting a drastic drop from **$44 billion** to the current valuation.

### Fidelity's Insights

According to Fidelity's latest reports, the **Blue Chip Growth Fund** has valued shares of X at **$21.29** each, unchanged from previous estimates. This represents a **78.7% drop** from its peak valuation two years ago. 

### Investment Context

Fidelity has a stake in both companies, estimating its investment in **xAI** at **$44,152,362**. If the funding round for xAI is successful, it could redefine the competitive landscape of AI startups, positioning xAI as a formidable player against OpenAI's ChatGPT.

Elon Musk's xAI is set to outpace X's valuation by over four times, aiming for a $40 billion mark as Fidelity cuts X's worth by 79% to $9.4 billion.

Elon Musk's xAI Startup Set to Surpass X's Valuation by 400%!

### Decart's Impressive Funding Journey

The **Israeli startup Decart** has made headlines by securing **$25 million** in its latest funding round, propelling its valuation to an impressive **$500 million**. This follows the company’s recent **Seed round**, where it raised **$21 million**, led by **Sequoia Capital** and supported by **Oren Zeev**, achieving a post-money valuation of **$100 million**.

### A Surge in High-Tech Funding

As the final days of **November** unfold, the high-tech landscape is witnessing a resurgence reminiscent of **2021**. Companies, including Decart, are securing significant funding even before generating substantial revenues, a trend echoed by other startups such as **Cyera** and **Eon**.

### New Investment Round Details

This latest funding round, announced shortly after the **Seed round** in late **October**, is led by **Benchmark**, a prominent player in the investment scene, known for its extensive history in **Israel**. The capital raised aims to enhance Decart’s presence in the **consumer market**.

### Founders and Company Background

Founded in late **2023** by **Dean Leitersdorf** (CEO) and **Moshe Shalev** (CPO), both veterans of **Unit 8200**, Decart focuses on tackling significant challenges in the **artificial intelligence** sector. Dean earned his doctorate in **computer science** at the **Technion** by age **23** while serving in the military.

### Innovative AI Solutions

Decart has developed an **AI infrastructure platform** that boosts the efficiency of AI models, promising faster and more reliable training along with real-time inference capabilities. The startup is currently training **AI foundation models** to pioneer new **generative AI** experiences, employing a team of **25** in **Tel Aviv**.

![Decart Logo](https://player.anyclip.com/anyclip-widget/lre-widget/assets/lg-player-footer2.jpg)

### Launch of Generative AI Model

In conjunction with its funding announcement, Decart has introduced its first **generative experience model**—an interactive **AI video game** that operates **ten times** more efficiently than traditional models. This innovation marks a significant milestone in **GenAI**, allowing players to create playable gaming experiences with minimal latency. 

Typically, such advanced models require substantial investments for training and scaling, but Decart’s comprehensive technological capabilities have enabled this groundbreaking achievement as an early-stage startup.

The Israeli startup raised $21 million in its Seed round, led by Sequoia Capital with participation from Oren Zeev, at a post-money valuation of $100 million.

Decart's $25 Million Funding Boosts Valuation to $500 Million in a Remarkable Surge

### A Decline in Funding
While **2021** was a landmark year with **729 healthcare startup deals** totaling **$29.1 billion**, the first three quarters of **2024** have seen only **379 deals** and **$8.2 billion** raised. The dramatic downturn indicates that many startups that thrived during the **ZIRP period** are now facing dire circumstances.

### Startups Struggling to Survive
Numerous healthcare startups have not secured new funding since **2021**. As a result, many are resorting to **down rounds**, lowering their valuations to attract new investment. Notably, **Forward**, a healthcare startup, recently shut down after a **$100 million Series E** round just a year prior, highlighting the **logistical and financial challenges** that plagued its operations.

### The Trend of Quiet Closures
Investors report that many startups are shutting down without public announcements. As of mid-November, **327 digital health startups** that had raised funds in **2021** have not raised since. The **AI boom** has not been enough to save all companies, and many startups are now looking to merge with competitors or sell assets to extend their lifespans.

### The Shift in Investor Sentiment
Investors are now less inclined to support struggling startups with bridge funding. Some venture capitalists are shifting their focus toward **new AI investments**, leaving behind companies that are no longer performing as expected. This shift has led to an environment where startups are recognizing the need to accept lower valuations to secure further funding.

### Mergers and Acquisitions
While some startups are quietly folding, others are exploring **mergers** as a means of survival. The **LetsGetChecked** acquisition of **Truepill** for **$525 million** exemplifies this trend, as companies seek to consolidate resources instead of facing the grim reality of a shutdown.

### Looking Ahead
Despite the challenges, there remains potential in the healthcare sector. Companies like **Hinge Health** and **Omada Health** are poised for IPOs, while private equity firms are actively seeking healthtech acquisition opportunities. However, the industry is expected to face ongoing difficulties, particularly in telehealth and clinic startups, which are struggling to deliver returns.

### Conclusion
The current landscape for digital health startups is marked by a need for **sustainable practices** and improved financial discipline. Investors are advocating for growth that balances profitability, setting the stage for a more stable future in healthcare entrepreneurship.

While 2021 saw a record-breaking number of healthcare startup deals, the first three quarters of 2024 only brought in about half of those deals. 

The Rise and Fall of Digital Health Startups: A Closer Look at 2024's Struggles

## Intel Ignite Shutdown: A Major Loss for the Startup Ecosystem

The **Intel Ignite startup accelerator program** is shutting down, leaving a significant gap in the Israeli entrepreneurial landscape. As a nation recognized for its startup culture, Israel's economy heavily relies on the **high-tech industry**. In an increasingly competitive global market, support for **entrepreneurs** is crucial to help them gain an edge over their international counterparts.

### A Personal Perspective

**Itamar Friedman**, co-founder and CEO of **Qodo**, shares his experience as an alumnus of Intel Ignite. He highlights the immense value the program offered, stating that despite being a seasoned entrepreneur with previous exits, the support and resources provided by Intel Ignite were pivotal. His company has successfully raised **$50 million** in investments, a testament to the program's effectiveness.

### Impact of the Shutdown

Intel Ignite was not just an accelerator; it was a launchpad for many successful Israeli startups, boasting a portfolio of **88 companies** valued at over **$5.5 billion**. Notable exits include:
- **Deci** sold for **$300M** to **NVIDIA**
- **Flow Security** sold for **$200M** to **CrowdStrike**
- **Granulate** sold for **$650M** to **Intel**

The program's unique approach involved providing tailored support, allowing startups to follow their own paths rather than enforcing a specific direction. This personalized approach, led by a team of former entrepreneurs, made Intel Ignite stand out.

### The Need for Local Support

Friedman emphasizes the importance of local support for startups, akin to the resources available in Silicon Valley. With the closure of Intel Ignite, there are currently no alternatives for entrepreneurs in Israel, which poses a risk to the startup industry. As the **AI revolution** accelerates software development worldwide, robust local support is essential to keep Israeli startups competitive.

### The Way Forward

As the landscape shifts, it is vital to ensure that entrepreneurs have access to guidance and resources. The discontinuation of Intel Ignite underscores the urgent need for new accelerator programs to support Israeli startups, enabling them to thrive in the global market.

![Intel Ignite](https://player.anyclip.com/anyclip-widget/lre-widget/assets/lg-player-footer2.jpg)

*Itamar Friedman is the co-founder & CEO of Qodo and an Intel Ignite alumnus.*

&quot;Unlike other accelerator programs that have an interest in serving those behind the program, Intel Ignite did not push startups in a different direction, and the support provided to entrepreneurs followed the path they chose,&quot; writes Itamar Friedman, co-founder &amp; CEO of Qodo, and an Intel Ignite alumni.

The Closing of Intel Ignite: A Setback for Israeli Startups Amid Growing Challenges

### Milan Dennie's Inspiring Journey

Milan Dennie, a barber from St. Paul, Minnesota, is not just shaping hair but also **shaping futures**. Having faced significant challenges in his youth, he now dedicates his time to mentoring teenagers, helping them discover a **better path**.

### A Unique MBA Experience
Every week, four days after school, a group of teens gathers in the **basement of King Milan's Barbershop** for what Milan proudly calls his **MBA-BB program**: Milan’s Business Academy in a Barbershop Basement. Here, they dive into the fundamentals of entrepreneurship, learning everything from business planning to web design.

![Barbershop Basement Classroom](https://media.kare11.com/assets/KARE/images/e7ae2eaa-f07a-4a6a-ad79-1c152c157f3a/20241125T171638/e7ae2eaa-f07a-4a6a-ad79-1c152c157f3a_16x9.jpg)

### Giving Back to the Community
Milan’s program, titled **"It’s Our Neighborhood,"** is his way of giving back. Reflecting on his own tough upbringing in Gary, Indiana, where he faced the loss of his father and various life challenges, he aims to provide guidance and support to the youth in his community. 

> “To me, it feels like I am them, in a sense,” he shares, emphasizing his connection with the students. 

### Learning Through Hands-On Experience
The teens not only learn about business but also engage in community service, participating in local trash pick-ups and running a food trailer that serves **Polish sausages**. This initiative allows them to earn money while gaining practical business experience. 

![Students Serving Sausages](https://media.kare11.com/assets/KARE/images/e46b21e3-734f-4865-80a8-1456bae23178/20241125T171848/e46b21e3-734f-4865-80a8-1456bae23178_16x9.jpg)

### Empowering the Next Generation
Milan’s mission is clear: he wants to instill the **entrepreneurial spirit** in the youth. As his students learn to navigate the world of business, they also develop essential life skills, such as patience and decision-making. 

> “It teaches you to be patient. It teaches you to think before you make decisions,” he notes.

### The Impact of Mentorship
With students like Tamea Greenhill, who sees the program as a fun way to stay out of trouble, and Ace Kimmons, who aspires to go to college and study business, Milan’s impact is evident. 

Milan’s barbershop is not just a place for haircuts; it’s a **hub of learning**, growth, and community service, proving that with the right guidance, anyone can turn their life around.

![Milan and Students](https://media.kare11.com/assets/KARE/images/b32b53af-d764-4088-9d67-68a495423a09/20241125T171638/b32b53af-d764-4088-9d67-68a495423a09_16x9.jpg)

Milan Dennie struggled as a teen, but now he mentors teens to choose a better path.

From Struggles to Success: How a St. Paul Barber is Shaping Future Entrepreneurs in His Basement

This monthly column highlights **five intriguing startup funding deals** that may have gone unnoticed. With the **holiday season** in full swing, it’s easy to overlook some exciting announcements. Here’s a look at recently funded startups tackling issues from **climate change** to **AI-driven beauty solutions**.

## Lucrative Lashes
The eyelash market is booming, especially when combined with **AI and robotics**. **Luum**, based in Oakland, California, raised a **Series A** funding round, totaling **$30 million**. Their **AI lash extension robots**, known as **Luum Lash**, are designed to perform eyelash extensions autonomously, claiming to be **safer and more accurate** than human technicians. The company has partnerships with **Ulta Beauty** and **Nordstrom**, piloting their service in San Jose.

## Fortifying Plants for Climate Change
With **water scarcity** affecting 25 countries and 23% of U.S. land facing water stress, it’s crucial to enhance food supply resilience. **Elicit Plant** secured a **$48 million Series B** to develop **phytosterol-based solutions** that help plants adapt to climate change. Their spray can reduce water consumption by **20%** while increasing yields by **10%**. They plan to expand their product range to include soybeans by **2027**.

## More Protein
In the food sector, **Plantible Foods** closed a **$30 million Series B** to enhance their production of **Rubi Protein**, derived from duckweed. This plant-based protein reportedly outperforms traditional animal and plant proteins in both **functional** and **nutritional properties**. The investment will help expand their manufacturing operations.

## Water Tech
As global water demand has surged and supply has plummeted, **OceanWell**, a Los Angeles-based startup, raised **$11 million** for its **modular deep-sea water farm** technology. Their innovative approach harnesses pressure at **400 meters** for efficient reverse osmosis desalination, producing up to **1 million gallons** of fresh water daily while reducing energy consumption by **40%**.

## Building Out Space
**Lunar Outpost** is making strides in the burgeoning space economy. The Golden, Colorado-based startup raised an undisclosed amount in a **Series A** round to develop **commercial lunar mobility offerings**. They have contracts with **NASA** and the **U.S. Department of Defense** for future space exploration missions, aiming to facilitate mobility on the moon.

![Startup Innovations](https://news.crunchbase.com/wp-content/uploads/5_Most_Interesting.jpeg)

With the holiday season upon us it’s pretty easy to miss some of the more intriguing rounds that get announced. No matter. We have you covered as we take a look at recently funded startups doing everything from fighting climate change to riding on the moon to longer lashes through AI.

5 Must-See Startup Innovations from November: AI Lashes, Climate-Resilient Plants, and More!

Toyota Motor Corporation has **recently invested** a staggering **$500 million** to propel electric air taxi travel into the future. This investment supports **Joby Aviation**, a pioneering startup in electric vertical takeoff and landing (eVTOL) aircraft, enabling them to secure **flight certification** and begin **commercial production** of their sustainable technology.

Founded in 2009 in Marina, California, Joby Aviation is making waves in the **commercial air taxi** sector. Their air taxi, powered by six **electric motors**, is designed to operate without producing air pollution. Capable of carrying one pilot and four passengers, Joby’s aircraft can reach speeds of up to **200 miles per hour**.

> "Flying with us might feel more like getting into an **SUV** than boarding a plane," claims the company's website, emphasizing the user-friendly experience.

In terms of environmental impact, Joby's electric air taxis are a breath of fresh air. They generate significantly less pollution compared to traditional air travel, particularly when compared to gas-powered helicopters, which are notorious for their high emissions. For instance, the **Airbus AS350**, a popular helicopter model, emits **950 pounds** of carbon per hour, while a standard gas-powered car emits only **22 pounds**.

With electric motors, an eVTOL carrying three passengers produces **52% less harmful carbon pollution** than a car, even when charged with **dirty energy sources** like methane gas.

Toyota's relationship with Joby Aviation dates back to **2019**, with total investments now reaching **$894 million**. Beyond financial support, Toyota has also provided **expertise** in process planning, manufacturing methods, and tooling design. In **2023**, the companies signed a long-term agreement for Toyota to assist in manufacturing critical components for Joby's air taxis.

Joby Aviation continues to innovate, having recently completed its third aircraft and breaking ground on a new facility in California that will double its manufacturing output. The latest funding aims to realize a shared vision of **air mobility** between Joby and Toyota, as highlighted by Joby’s founder and CEO, **JoeBen Bevirt**. This investment marks a significant step in their **seven-year collaboration** and showcases the growing potential of **electric air travel**.

"Flying with us might feel more like getting into an SUV than boarding a plane."

Toyota's $500 Million Bet on Air Taxis: Discover the Future of Flight with Joby Aviation

### Eon Achieves Rapid Growth
Less than a year after its establishment, **Eon**, a startup founded by **AWS veterans**, is raising tens of millions more in funding at a valuation exceeding **$1 billion**. Emerging from stealth earlier this year, the company has already completed three funding rounds, raising approximately **$127 million**. In its most recent round, Eon was valued at **$750 million**, with projections suggesting it could reach as high as **$1.4 billion**.

### Rapid Fundraising Trajectory
Eon has been likened to **"the next Wiz"** due to its rapid fundraising trajectory and high-caliber team, attracting interest from nearly every major local and international venture capital fund. However, unlike Wiz, which quickly demonstrated significant sales growth, it remains unclear whether Eon has started generating substantial revenue. The company focuses on developing advanced **cloud backup solutions** for businesses and enterprises.

![Eon Logo](https://player.anyclip.com/anyclip-widget/lre-widget/assets/lg-player-footer2.jpg)

### Founders and Funding Rounds
Eon was founded by **AWS alumni** Ofir Ehrlich, Ron Kimchi, and Gonen Stein. Ehrlich and Kimchi oversee the development center in **Tel Aviv**, while Stein handles business operations from **New York**. Eon’s first funding round, completed before the company even formally launched, raised **$20 million**, led by **Sequoia Capital**. This was followed by an additional **$30 million** in a second round, valuing Eon at **$215 million**.

In the latest **Series B round**, completed in the summer of 2024, Eon raised **$77 million** at a valuation of **$750 million**. This round was led by **Greenoaks** with participation from **Quiet Ventures**, marking a significant achievement for a startup operating with just **36 employees** across offices in New York and Tel Aviv.

### Entrepreneurial Roots
Ehrlich and Stein’s entrepreneurial journey traces back to **CloudEndure**, a company they co-founded in 2013, which raised only **$18 million** and was sold to AWS for **$200 million** in 2019. At AWS, they met Kimchi, who now joins them in leading Eon, a startup that is generating remarkable attention and investment even before launching its first product.

AWS alumni had already previously raised $127 million in three funding rounds for Eon, which has been likened to &quot;the next Wiz&quot; due to its rapid fundraising trajectory and high-caliber team. 

Elon Musk's xAI Startup Set to Surpass X's Valuation by 400%!

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Elon Musk's xAI Valuation Soars

Valuation Breakdown

Fidelity's Insights

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Other Latest News

Decart's $25 Million Funding Boosts Valuation to $500 Million in a Remarkable Surge

The Rise and Fall of Digital Health Startups: A Closer Look at 2024's Struggles

The Closing of Intel Ignite: A Setback for Israeli Startups Amid Growing Challenges

From Struggles to Success: How a St. Paul Barber is Shaping Future Entrepreneurs in His Basement

5 Must-See Startup Innovations from November: AI Lashes, Climate-Resilient Plants, and More!

Toyota's $500 Million Bet on Air Taxis: Discover the Future of Flight with Joby Aviation

Eon: The Startup Racing Towards a $1 Billion Valuation in Record Time

Other Latest News

Decart's $25 Million Funding Boosts Valuation to $500 Million in a Remarkable Surge

The Rise and Fall of Digital Health Startups: A Closer Look at 2024's Struggles

The Closing of Intel Ignite: A Setback for Israeli Startups Amid Growing Challenges

From Struggles to Success: How a St. Paul Barber is Shaping Future Entrepreneurs in His Basement

5 Must-See Startup Innovations from November: AI Lashes, Climate-Resilient Plants, and More!

Toyota's $500 Million Bet on Air Taxis: Discover the Future of Flight with Joby Aviation

Eon: The Startup Racing Towards a $1 Billion Valuation in Record Time