Venture Capital (VC) News, Latest Updates and Recent Venture Capital (VC) Announcements for Startup on Techminis

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Investors telling you “You’re too early”

Investors often tell founders that they're 'too early' when pitching for funding.
Investors rarely provide the true reasons behind this feedback and may cite random metrics or expected traction.
The real underlying reason is often FOMO (Fear Of Missing Out) on a potentially high-return investment.
To generate FOMO among investors, founders should focus on building a compelling story around their company and creating a sense of urgency.

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Insider

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Tim Tully taught himself to code at age 6 and still codes daily. Here's how computer science took him from startups to AI investing at Menlo Ventures.

Tim Tully, a partner at Menlo Ventures, began writing code and making video games when he was six on his Apple II computer. He has a data center in his basement and writes code for some of his startup investments in his portfolio. Tully invested in generative AI startups at Menlo Ventures, including vector database Pinecone, LLM developer Anthropic, enterprise data cleaner Unstructured, conversational AI system Neon, and automated data cleanup program Cleanlab. Menlo Ventures closed a $1.35 billion fund last year to invest in AI startups. Tully's computer science background has been helpful in evaluating potential AI investments. Before being a VC, Tully worked at Dot-com era companies iScale and Pillar Data Systems, and at Yahoo for 14 years, where he worked his way up to lead engineering. He then spent 2017 at data analytics company, Splunk. Tully joined Menlo Ventures as a partner in 2021 and has been investing in various vertical AI categories, including legaltech, marketing, and automation, and is excited for AI coding assistants.
Tim Tully is a partner at VC firm Menlo Ventures, adamant advocate of generative AI & former programmer and CTO.
Tully taught himself to code at the age of six using Applesoft BASIC on an Apple 2 computer.
He invested in generative AI startups Pinecone, Anthropic, Unstructured, Neon and Cleanlab at Menlo Ventures. He is also currently writing code for some of his portfolio companies.
Before Menlo Ventures, Tim Tully worked at startups and Yahoo and was chief technology officer at data analytics company, Splunk in 2017. He has technical expertise operating software.
Menlo Ventures closed a new $1.35bn fund last year to invest specifically in fledgling AI startups, and Tully invested in startups like Pinecone and Neon.
Tully's background in computer science is helpful when it comes to evaluating potential AI investments as well as connecting with technical founders.
Tully invested in nine startups since he joined Menlo Ventures in 2021. Tully has invested in legaltech, marketing, and automation, and is excited about opportunities in AI coding assistants.
Tully's portfolio company, AI quality management software startup True Era was acquired by Snowflake earlier this year.
Tully wants to invest in AI startups at the application layer testing various vertical AI categories and expedite his productivity by AI coding assistants.

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StartupDaily

274

Australian startup investor Boman Group grabs a $10 million slice of OpenAI

Australian fund manager Boman Group has invested AUD 10 million in OpenAI's record-breaking USD 6.6 billion fundraising round.
Boman Group follows a 'Unicorn strategy' of investing in late-stage technology companies, having previously backed Airbnb, Databricks, and Klarna.
Boman executive director Eva Zhuang led the investment, citing the decreasing cost and increasing productivity gains of AI as a key driver.
OpenAI's valuation has nearly doubled since earlier this year, with its AI assistant ChatGPT gaining significant traction.

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Medium

409

Transforming Lives: The Washing Machine Project Secures Funding for Global Impact

In a bid to address the 'Global Washing Divide', The Washing Machine Project has secured funding for a partnership with the Whirlpool Foundation.
The project aims to deliver 10,000 manual washing machines to low-income and displaced communities worldwide over the next five years, impacting an estimated 150,000 people.
The innovative Divya Washing Machine, designed to operate without electricity or connected water source, reduces time and physical effort required for hand washing clothes.
The collaboration between The Washing Machine Project and the Whirlpool Foundation aims to empower communities by providing accessible and sustainable washing solutions, offering hope for a brighter future.

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Medium

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“Embracing the Future: How AI, Niche Markets, and Sustainability Are Shaping Entrepreneurship in…

Companies are leveraging artificial intelligence (AI) to streamline operations across sectors like marketing, HR, and customer service.
Entrepreneurs are finding success by catering to niche markets and offering personalized products, services, and marketing.
The focus on eco-friendly business practices is growing as more consumers support brands that prioritize sustainability and ethics.
Entrepreneurs need to focus on innovation, customer-centric strategies, and sustainability to thrive in the competitive landscape.

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Medium

377

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Precipice Space: Hemp, Diamond Glass, and more Algorithms on Mars

Organic chemistry, particular chemical reactions, and the breakdown of human waste can create methane fuel for energy production, also compost to aid growth of other organic forms while hemp’s versatility and ability to grow in poor soil make it ideal for terraforming on Mars.
Methane production depends on large organic molecules breaking down into volatile fatty acids, which are then converted into acetic acid and carbon dioxide. Methanogenic bacteria convert the same into methane and water.
The quantity produced depends on the efficiency of the anaerobic digestion process, and one ton of organic waste can typically produce between 200 to 300 cubic meters of biogas, with 50-70% being methane.
Hemp can help with terraforming Mars. Its roots improve the soil while its biomass can be cycled back for use in compost, so dealing with both energy production and soil fertility.
Hemp can also be used to produce construction materials, textiles, biodegradable plastics, alternative fuels, and papers and cardboard.
A film about hemp and marijuana contributing to the sustainability and independence of a Martian colony can tackle several themes such as survival, ethics, and autonomy.
The plot could revolve around the crew's efforts to terraform Mars by using hemp for energy, medicine, and construction while combating corporate interests from Earth.
Piezoelectric Kevlar walls and crystallized carbon 'Diamond Glass' are used for protection, energy generation, and construction on Mars.
The film's characters intimately rely on algorithms like POM, EPAS, AEM, SIVS, MCAM, and HMEM to survive during a catastrophe while preserving their independence.
The incorporation of hemp and these algorithms tells a story of human resilience, cooperation, and survival while embodying the spirit of sustainable agriculture.

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StartupDaily

Antler launches $77 million 2nd Australian fund as brings forward Brisbane launch to 2025

Global early-stage investor Antler has closed its 2nd Australian fund, raising $77 million within 12 months.
The fund will back more than 100 new pre-seed Australian startups, having already invested in 40 ideas since May 2023.
Antler will accelerate the launch of its Queensland program by 12 months, starting in Brisbane in February 2025.
Antler is launching a new follow-on investment structure, ARC, in Australia to support startups in their pre-seed rounds.

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Saastr

373

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Phlo Secures £9 Million in Funding: Fuelling Healthcare Innovation

Phlo, a comprehensive digital healthcare provider, has secured £9 million in funding to fuel healthcare innovation.
Phlo offers digital pharmacy services, a digital infrastructure platform for healthcare providers, on-demand access to clinicians, and specialised healthcare services for women.
The recent funding will enable Phlo to expand its footprint across the UK, enhance its range of services, and forge new partnerships in the healthcare sector.
Phlo's vision and capabilities have gained the confidence of stakeholders, including Par Equity and Scottish Enterprise, who have expressed support for the company's growth and innovation.

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Medium

414

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Indian Startup Funding Falls to $77 Million This Week (Sept 28 — Oct 4, 2024)

Indian startup funding falls to $77 million this week (Sept 28 — Oct 4, 2024)
Enterprise tech sector receives the largest share of funding with $40 million in a single deal
Fintech and consumer goods sectors also receive notable investments
Early-stage investments dominate, with pre-Series A funding accounting for $14 million in 8 deals

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Medium

369

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Kigali Innovation City is a Big Deal — Here’s Why

Kigali Innovation City (KIC) is a hub for tech-driven businesses, fostering an ecosystem for collaboration and development of cutting-edge solutions.
KIC aims to attract and develop top talent through institutions like the African Leadership University and Carnegie Mellon University Africa.
It boosts foreign and local investment, solidifying Rwanda's position as a regional innovation hub and diversifying investment opportunities.
KIC strengthens Rwanda's leadership in ICT and innovation, setting an example for neighboring countries and supporting economic diversification.

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Saastr

283

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7 Things I Learned from Loren Padelford, CRO of $100m+ ARR Vertical SaaS Leader Slice

Selling to small business owners requires adding real value and personalization.
Selling to enterprise buyers is different from selling to small business owners.
Small businesses want comprehensive solutions, not just point solutions.
In vertical SaaS, aiming for 100% market share is possible.

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Saastr

369

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ChurnZero: 38% More Customer Success Departments Are Reporting to the CRO. FBOW.

A trend observed is Customer Success reporting into Sales, which is up by 38% this year according to ChurnZero.
This trend is driven by the pressure to grow revenue from existing customers rather than acquiring new logos.
While it may make short-term sense, it can lead to a poor customer experience, as the focus shifts towards upselling.
Early-stage startups are less likely to follow this trend, as they focus more on acquiring new customers.

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Medium

153

Eleos Raises $4 Million Seed Funding To Transform Digital Life Insurance

Eleos has raised $4 million in seed funding to transform digital life insurance.
Eleos's mission is to address the gaps in the insurance sector by improving communication about financial protections and developing seamless, fully digital insurance solutions.
Eleos offers a proprietary full stack B2B2C solution that includes APIs and white-labelled journeys, benefiting partners with new revenue streams and enhanced customer retention.
The funding will be used to launch more insurance lines, form distribution partnerships in the UK, and expand operations in the US.

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Medium

360

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AI and Venture Capital: How to Invest?

AI and Venture Capital: How to Invest?
AI is not a game for typical venture capital funds.
AI foundation model companies may collapse the stack, subsuming business logic and consumer experiences.
Opportunities for venture capital funds may lie in universal human experiences and education.

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