Startups, unlike traditional businesses, are established with the goal of rapid growth and often take risks and receive a large amount of investment. These investments are used to accelerate the growth of the business and they often develop projects that focus on technological innovation. However, the survival and growth of startups is often a challenging process.
Entrepreneurs have to constantly improve their product and business model, impress their customers and satisfy investors in order for their business to succeed. A successful startup is achieved with a team that believes in and is excited about its product, a business model that meets the needs of customers, and proper management of its financial resources. Building a startup therefore requires a great deal of risk and dedication, but can offer significant rewards when it succeeds. Let’s see what happened in the startup ecosystem this week.
Startups that received investment
APY Ventures has invested 200,000 Euros for Cellsway, which develops cancer diagnostics solutions. Cellsway’s investment amount has reached 4 Million Euros with this investment. Click for more information.
Senkrondata offers competitor tracking service for brands. It should be noted that the startup received its first investment from Wise Guys with a valuation of 3.4 million euros. Click for more information.
Onsurity, an SME-focused, subscription-based healthcare services provider, has successfully raised $24 million in a Series B financing round. Click for more information.
Audoo, which helps artists pay royalties, announced that it has received an investment of 5 million dollars. Click for more information.
Zurich-based LimmaTech Biologics AG, a clinical-stage biopharmaceutical company, announced that it has secured $37 million (approximately EUR 35 million) in a Series A financing round. Click for more information.
Adsby, a startup formerly known as Magnetiq, provides AI-based solutions to effectively manage Google, Facebook and Instagram ads on a single platform. Adsby has successfully completed a new seed investment round. Click for more information.
Anysphere is a startup building what it describes as an “AI-specific” software development environment called Cursor. The startup announced that it has raised $8 million in seed funding led by OpenAI Startup Fund with participation from GitHub CEO and Dropbox co-founder Nat Friedman. Click for more information.
This week’s news
AMD announced plans to acquire open-source AI platform Nod.ai to accelerate advancements in the company’s AI software resources. There is no denying that AMD and NVIDIA are currently in a “technology race”, especially in the field of artificial intelligence. Both companies are trying to improve their software capabilities, which ultimately aims to increase computing performance. However, AMD is lagging behind in all areas, and now NVIDIA has become the dominant force in the market and has captured almost the entire share. With the acquisition of Nod.ai, AMD aims to support the development of the company’s software resources to challenge its competitors. Click for more information.
Security management startup Gutsy.io Inc. launched today with $51 million in funding and a product that claims to revolutionise security management through process mining. Founded by cybersecurity veterans and serial entrepreneurs Ben Bernstein, Dima Stopel and John Morello, Gutsy’s solution applies process mining, a data-driven approach to process analysis and improvement, to cybersecurity for the first time. Click for more information.
Orbem has raised €30 million in a Series A financing round. Led by global venture capital firm 83North, the investment positions Orbem at the forefront of leveraging artificial intelligence to industrialise MRI technology and make it more accessible, cost-effective and efficient. New investor La Famiglia and existing investors also supported the round. Click for more information.
The inaugural Future Go Tech Summit was held on 6-7 October in Istanbul — in the words of the host Stewart Rogers, “at the crossroads of the world”. The summit was devoted to the richest opportunities, toughest challenges, and most pressing issues in the tech world. Over the course of two days, DasDas, a prestigious cultural venue in Istanbul, welcomed esteemed guests and tech visionaries from more than 30 countries all over the globe including the US, Turkey, the United Kingdom, Mexico, Singapore, UAE, and many more. Click for more information.