Mozilla, the not-for-profit organization behind the Firefox web browser, established a new AI-focused startup called Mozilla.ai. Mozilla's parent organization, the Mozilla Foundation, made a $30M seed investment into the newly formed entity. More: - The new company was launched with a view to building an open-source and "trustworthy" AI.
- Mozilla.ai will be headed by Mark Surman, the executive president of Mozilla.
- Surman is joined by managing director Moez Draief, former chief scientist at Huawei's Noah's Ark AI lab and Capgemini.
- The firm intends to use the proceeds to build a team with 25 engineers and commence work on its AI model.
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Network security services startup Dope Security raised a $16M Series A led by Google Ventures. The company works on blocking certain traffic within organizations. More: - Dope Security works by using an organization's endpoints instead of routing entire traffic through the cloud or on-premise servers.
- The secure gateway market was worth $9B at the end of 2022 and is projected to increase to ~$24B by 2028.
- The round included participation by follow-on investors Boldstart Ventures and Preface.
- Dope Security has raised a total of $20M since its inception.
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Crypto exchange startup Luno's COO James Lanigan will step into the CEO role vacated by founder Marcus Swanepoel, who will transition into the executive chairman position. The move comes after it laid off 35% of its workforce in late January, citing market volatility. More: - VC firm Digital Currency Group acquired Luno in 2020.
- Swanepoel was the firm's CEO for 10 years, and his transition is unrelated to the troubles faced by the firm recently.
- In the new role, he will guide Luno's strategy and focus on expanding the investor base.
- Luno roped in Canaccord Genuity Group to help it raise funding from external investors.
- Lanigan is tasked with expanding operations internationally and increasing market share as it gears up for an eventual public listing.
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Tokenized asset platform Synthetix received a $15M investment in the form of the purchase of its native token by quantitative trading firm DWF Labs. The firm would also have the option to purchase another $5M in tokens upon the integration of Synthetix’s services. More: - DFW Labs used USDC to complete the transaction.
- Synthetix tokenizes real-world assets into derivatives through smart contracts.
- The protocol surpassed $400M in perpetual swap daily trade volume in Mar. 2023, per Dune Analytics data.
- The Australian-based company raised a $12M venture round in Dec. 2020 with participation from Coinbase Ventures, IOSG Ventures, and Paradigm.
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Recompose, a Seattle DeathTech startup, announced a crowdfunding campaign to raise $5M. The company seeks to use composting to upend a $20B funeral industry. More: - Recompose previously raised $17M, without venture capital firm participation, through donors and clients of financial advisors.
- Human composting was legalized in Washington state in May 2019, followed by California, Colorado, Oregon, Vermont, and New York.
- The company is one of several DeathTech startups that have emerged in the Pacific Northwest, including Solace, which takes the funeral planning experience online, and Titan Casket, which raised $3.5M to accelerate the supply chain by going direct-to-consumer.
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Serial entrepreneur Robbie Allen launched a new AI-driven healthcare startup called Bionic Health. The firm has already secured $3M from investors. Allen said, "Through in-depth analysis of individual genomics, body composition, biomarkers, wearable data, and other crucial factors, each patient receives a highly personalized plan that enables them to achieve their optimal health and longevity." More: - The firm aims to harness AI and machine learning to improve health outcomes for patients.
- The platform intends to connect users with board-certified physicians and offer customers personalized treatment plans, health coaching, and advanced diagnostic testing for $250 per month.
- Bionic Health's funding round was backed by IDEA Fund Partners, Studio VC, Alumni Ventures, Tweener Fund, AI Operator's Fund, and Operator.VC.
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- JPMorgan Chase acquired investment analytics platform Aumni for an undisclosed sum.
- Startup accelerator Neo is partnering with OpenAI and Microsoft to provide Azure cloud and ChatGPT credits to startups in its cohort.
- CodiumAI emerged from stealth with an $11M seed funding co-led by Vine Ventures and TLV Partners.
- Cultivated meat startup Good Meat moved closer to commencing production after it completed the U.S. Food and Drug Administration's pre-market consultation for its production systems.
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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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