Summary:
Truely launches products to combat AI cheating with innovative hardware.
CaaStle faces lawsuits amid financial misconduct allegations.
Figure AI demands brokers cease stock marketing activities.
Imaguru continues its mission in exile with support from Europe.
Cast AI raises $108 million to enhance AI workload management.
Welcome to Startups Weekly, your go-to recap of all the must-know happenings in the startup world! Want this delivered to your inbox every Friday? Sign up here.
This week was relatively low on M&A and IPO news, but there was plenty of drama and some noteworthy startups securing funding.
Most Interesting Startup Stories from the Week
Image Credits: Bloomberg / Contributor / Getty Images
From amusing to serious, legal developments dominated the startup landscape this week.
Clued up: Startups like Truely are launching products to catch users of the viral AI cheating app Cluely, with plans to stay ahead with innovative hardware.
Besieged: Fashion startup CaaStle faces new lawsuits and allegations following accusations against its founder.
Figure it out: Robotics startup Figure AI sent cease-and-desist letters to brokers marketing its stock.
Still fighting: Imaguru, the first startup hub in Belarus, continues its mission in exile with new hubs in Warsaw and Madrid, supported by European institutions.
Serial drama: Deel has officially agreed to be served legal papers in a lawsuit from competitor Rippling.
Flawed: A London-based investor is trying to halt the sale of EV startup Canoo’s assets to its CEO, labeling the process as flawed.
Most Interesting VC and Funding News This Week
Image Credits: under a IXI license
If the startups securing funding rounds this week meet their targets, we could see significant advancements in various sectors. Here are some highlights:
Casting a net: Cast AI raised $108 million in Series C funding for R&D and expansion.
Strong run: Lightrun secured $70 million in Series B funding to enhance its AI-enabled observability platform.
Legal tech: Supio attracted $60 million to automate data collection for legal teams.
Bold vision: IXI, aiming to innovate autofocus technology for prescription glasses, raised $36.5 million from Amazon and others.
B2B trade: Nuvo raised $34 million in Series A funding for its platform facilitating business transactions.
Early detection: Craif, a startup focused on AI-powered cancer detection, secured $22 million in Series C funding.
Ballooning: Near Space Labs raised $20 million to advance its balloon-based imaging platform.
Hot: Glacier raised $16 million for its robot-enabled recycling fleet.
Not broken: Kintsugi, an AI sales tax startup, doubled its valuation to $150 million with a recent $15 million raise.
U.K. upside: Volution launched a $100 million fund focused on fintech and AI startups.
One-up: EWOR launched a founder fellowship with a commitment of $68 million.
Last but Not Least
Image Credits: Neo
Meet Ali Partovi, an Iranian-born entrepreneur and Harvard graduate with a distinguished career in founding and investing in tech companies. He now leads Neo, a venture firm whose early funds are performing exceptionally well.
Anna Heim is the writer behind this insightful recap, covering a variety of startup-related topics for TechCrunch.
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