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Microsoft confirmed they would acquire Fungible, a startup that makes data processing units. The new company will help bolster Azure cloud operations. More: - Fungible will support Microsoft with the delivery of multiple DPU solutions, network innovation, and hardware systems advancements.
- Microsoft did not disclose the amount of the sale.
- Fungible began operations in 2016, founded by Bertrand Serlet, a former Apple software engineer.
- Prior to the acquisition, the startup raised $300M, mainly from Softbank’s Vision Fund and Norwest Venture Partners.
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Vista Equity Partners will purchase Duck Creek, an insurance software company. The sale will be for $2.6B. More: - Duck Creek is a SaaS-based software provider for the property and casualty (P&C) insurance sector.
- The company went public in 2020, reaching a market cap of $7B in early 2021.
- In 2022, Vista also purchased Citrix for $16.5B and Avalara for $8.4B. For the Citrix purchase, the company partnered with Evergreen/Elliott.
- Within the software insurance sector, Vista has also acquired Applied Systems, Eagleview, and Vertafore.
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Releaf raises $3.3M in its seed funding round. The round was led by Samurai Incubate Africa with additional participation from Consonance Investment Managers and Stephen Pagliuca (Chairman of Bain Capital). More: - The Nigerian agtech startup helps to supply ingredients to consumer goods manufacturers across the continent.
- With Africa expected to represent 40% of the total human population by the end of the 21st century, Releaf looks through technology to accelerate industrialization and offer cheaper supply chain alternatives for manufacturers.
- The company, founded in 2017, has raised a total of $10.6M to date, including $4.2M from Jack Ma Foundation.
- The new funding will be deployed to build out its core products which include a portable version and a mapping application tool.
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Insurance broker Superscript raises $54M in its Series B funding round. The funding round was led by Comparethemarket with additional venture participation from The Hartford and Concentric. More: - The London-based company provides business insurance to small businesses with increased or complex liabilities, including medical malpractice or financial indemnity.
- The injection of new capital will be put towards bolstering its underwriting capabilities and investment in its machine learning tool.
- Superscript is currently only available for insurance in Europe but has plans for global expansion. The company noted it does have customers in North America and the Middle East who require access to European insurance markets to conduct their operations.
- The company, founded in 2015, has raised a total of $79.1M to date.
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London-based Fractal Homes raises $30M in its seed funding round. The round was a mix of equity and debt financing led by White Star Capital, with debt investment coming from a London-based private credit fund. More: - The Fractal Homes platform offers to make it easier for buyers to acquire a second home in European cities.
- The company's platform creates an LLC and manages up to eight equal co-owners facilitating managing the property, maintenance, and all operational aspects, allowing for lower entry prices for potential second homeowners.
- The new injection of capital will be used towards the company's expansion of marketing as well as new engineering hires both in the U.K. and abroad.
- The company also noted plans to expand its offering to cities like Paris and Madrid as a part of its growth plan to attract new buyers.
- The move comes as central banks globally have consistently raised interest rates pushing mortgage interest rates higher. It remains unclear if these rising rates could significantly slow down Fractal Homes' business model amid lower demand from buyers.
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Worlds Enterprises, Inc. recently announced it raised $21.2M Series A1 to grow its 4D industrial metaverse platform. The company builds robust, living digital twins of industrial facilities to allow business leaders to see various data points in one place. More: - Moneta Ventures led the round.
- Align Capital, Green Park & Golf Ventures, Chevron Technology Ventures, Piva Capital, PerotJain, and Capital Factory also participated.
- The company plans to use the funding to develop its AI platform and expand its partnerships.
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- The quantum computing startup, Oxford Ionics, raised £30M ($36.5M) Series A in a round led by Oxford Science Enterprises and Braavos Investment Advisers.
- L’Oréal used money from its corporate venture fund BOLD Business Opportunities to invest in Prinker Korea Inc., a startup that produces temporary tattoos using augmented reality and AI.
- Several food waste startups are presenting their products at CES. For instance, the startup OneThird is working with companies across the food industry and encouraging them to adopt its rapid composting technology.
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 |  | Courtney Rawlings is an Inside Research Analyst living in Los Angeles, California. She has returned to her hometown of LA after spending several years working at Emory University in Atlanta, Georgia, where she is completing a Ph.D. in Art and Architectural History. Martin Ruiz-Cantu is a Business Researcher at Inside.com. He has a Master's in Global Business and Finance from Georgetown University. He previously worked at HSBC and the World Bank. He is passionate about finance, startups, and tech. Robel Kelkile was born and raised in the Bay Area. Now a writer @Inside, Robel covers all things San Francisco and is passionate about tech, venture, education, and city and state government. |  | | Editor | Vibha Chapparike is a Freelance Writer & Editor at Inside.com. With her post-graduation in Management and Finance completed, Vibha is expanding her knowledge in venture capital, business, startups, and technology. She has had a career in public relations and communications. An ardent reader and writer currently residing in Singapore, you can follow Vibha on Twitter @VChapparike. | |
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