January Almost Had Its First Pentacorn, and Other Startup News
Welcome to Startups Weekly — your weekly recap of everything happening in the world of startups. The second week of the year is packed with startup news, including CES product launches, mergers, acquisitions, and funding rounds.
Most Interesting Startup Stories from the Week
Image Credits: May Mobility
This week saw several startups launching new products at CES 2025, such as Full Nature Farms with their farm irrigation system, Soliddd’s smart glasses for macular degeneration, and May Mobility's electric autonomous minibus.
Green light: Dutch semiconductor giant NXP unveiled plans to acquire TTTech Auto, a VC-backed Austrian spinoff specializing in safety software for autonomous vehicles, in a deal worth $625 million.
Healthy match: Healthcare analytics platform H1 acquired Ribbon, a Y Combinator alum, which had backing from a16z and General Catalyst.
Flock of lawsuits: Flock Safety is facing a lawsuit from a mayor who claims wrongful termination by the public safety tech company.
Room for partners: The 3D design app Rooms secured a deal with Google, obtaining a $1 million investment and early access to Gemini AI.
Wild ride: Defense tech headhunter Peterson Conway's colorful profile offers a fascinating read.
Most Interesting Fundraises This Week
Image Credits: Whatnot
This year almost had its first pentacorn, thanks to a funding round by livestream shopping app Whatnot, which raised $265 million, bringing its valuation close to $5 billion. The company revealed its annual GMV surpassed $3 billion.
Blue ocean: Xocean, an Irish marine robotics startup, secured $119 million to expand its ocean data collection with USVs.
Cross-border: NomuPay, formed from Wirecard’s regional payment licenses, raised $37 million to build payment infrastructure in Asia.
Paying off: OnPay secured over $100 million, including a $63 million Series B round led by Carrick Capital Partners, to develop its payroll and HR solutions.
Game on: Turkish gaming startup Grand Games raised $30 million to support its popular games like Magic Sort.
Most Interesting VC and Fund News This Week
Image Credits: Defiant
Newcomer: Defiant, a new European VC firm, emerged stealthily, aiming to raise $70 million for its B2B SaaS and fintech-focused fund.
Trucking on: Trucks Venture Capital will make about 30 seed investments with its new $70 million fund, backed by diverse strategic limited partners.
India-focused fund: South Park Commons is raising a $40 million fund to focus on the Indian market, despite challenges faced by some VCs.
Last but Not Least
VC investment in emerging markets fell by over 40% in 2024, with more than half of global VC funding going to Silicon Valley, a trend expected to continue in 2025 as the AI boom persists.