Plus, Mythic, which ran out of capital in November, raises down round
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Apple is backing a content creation startup, Gamma, by former Apple Music Global Creative Director Larry Jackson and music executive Ike Youssef. "[Artists] shouldn't have to jump through multiple hoops to express themselves," said Jackson. More: - The company will support content creation and provide audio and video distribution through its recent acquisition, Vydia.
- The startup has agreements with Snoop Dogg and the Death Row catalog.
- Gamma's backers include independent studio A24 and Todd Boehly's Eldridge.
- The company reportedly has access to $1B in available capital through equity and debt.
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Toku, which works on blockchain-based payroll and tax compliance, raised a $20M round led by Blockchain Capital. Toku works on helping companies pay employees and tokens in 100 countries. More: - "[Compensation] laws aren't going away, and organizations need to follow them for the industry to grow," said Toku co-founder Ken O'Friel.
- Toku claims Filecoin Foundation, Protocol Labs, Aragon, and Astor among its customers.
- The round included participation by Alchemy co-founders Nikil Viswanathan and Joe Lau, OrangeDAO, and Protocol Labs, among others.
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Biotech startup Tiamat Sciences is gearing up for rapid growth following the close of its $2M seed extension round. The Durham, N.C.-based startup develops plant-based proteins for use in cellular agriculture. It intends to use the proceeds to accelerate product validation and ink strategic partnerships. More: - 8090 Industries led the current funding round with participation from True Ventures, Social Impact Capital, Siddhi Capital, Sustainable Food Ventures, and others.
- The extension round brings the firm's total funds raised to date to $5.4M.
- Tiamat is also expanding into new markets.
- It aims to raise more funding later in 2023 to expand its North Carolina and Belgium sites.
- The firm claims that its most recent patented product was able to increase crop yield by 1000x within six months.
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Mythic, an AI chip startup that ran out of capital in November, raised $13M from recurring investors Atreides Management, DCVC, and Lux Capital, among others. The company's previous round totaled $70M. More: - Mythic works on a chip that stores analog values on flash transistors.
- The company appointed a new CEO, its former CTO Dave Fick, after co-founder Mike Henry left to pursue other interests.
- The startup plans to use the funds on go-to-market strategy and customer acquisition.
- The global venture equity for semiconductor startups dropped by 46% to $7.8B in 2022.
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Armenian startup Prelaunch.com raised $1.5M in seed funding led by Big Story VC. The firm issued SAFE Notes with a valuation cap of $10M at the funding round. Prelaunch intends to use the proceeds to scale the firm and expand its workforce. More: - Prelaunch provides a product validation platform to other startups.
- The firm is able to access buyer intent by asking a potential group of customers about the viability of the product.
- Prelaunch has validated products for over 1,000 clients to date.
- The company was bootstrapped until this round of funding.
- Formula VC, Granatus Ventures, and BANA participated in the funding round.
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CoFoundersLab is offering laid-off tech workers free premium access to its virtual network for one year. The firm hopes that opening up access can provide them with resources that help them establish their own startups. CoFoundersLab intends to also unveil its Launch program later this month. More: - The Launch program will provide a platform for founders to practice their pitches, network with investors, and participate in webinars.
- CoFounderLabs startUP accelerator program evolved into the Launch program.
- Chairman Steve Lehman highlights that laid-off workers can interact with over 650,000 entrepreneurs in its community to seek advice for their startups.
- In addition, the platform facilitates weekly classes with industry experts.
- CoFoundersLab was acquired by Lehman and Thom Beers for $2.5M in 2018.
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- Regulators shut down Silicon Valley Bank after it failed to raise capital through a share sale and put it under the control of the U.S. Federal Deposit Insurance Corporation. The fallout caused panic among startups, which are currently trying to assess the impact on their operations. Starting Monday, insured depositors will have access to their accounts, assured the bank.
- Alberta Enterprise contributed $2.5M to Sprout's $14M second seed stage fund.
- Seattle, Wash.-based prop-tech startup Latchel raised an undisclosed sum from Allegion Ventures.
- Telehealth startup Cerebral shared the private health information of 3.1 million patients with advertisers and social media organizations. The startup admitted the security breach in a federal disclosure filing.
- Some Israeli startups are trying to incorporate their companies in the U.S. as Prime Minister Benjamin Netanyahu's judicial reform proposal continues to cause civil unrest in the nation.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, and Licensed Pilot.
Nicolas is a Sr. Analyst at Inside, covering startups and transportation trends. He is an avid map maker and data nerd. Nicolas has worked in the shared-scooter space, as well as advised e-bike and moped start-ups.
| | | | 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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