Bunker, a Singapore-based financial analytics platform, raised $5 million in funding. AutogenAI, a London-based A.I.-enabled procurement and tender writing platform, raised $22.3 million in funding from Blossom Capital. The Growth Fund of L Catterton led the round and was joined by Bessemer Venture Partners and Imaginary Ventures. GlossGenius, a New York-based business solution for the beauty and wellness industry, raised $28 million in Series C funding. Sequoia Capital led the round and was joined by Khosla Ventures, Mayo Clinic, Calibrate Ventures, Neo Ventures, and 1984.vc. Collaborative Robotics, a Santa Clara, Calif.-based robotics company, raised $30 million in Series A funding. National Grid Partners led the round and was joined by Aviva Ventures, WEX Venture Capital, InMotion Ventures, Energy Impact Partners, Future Energy Ventures, and ArcTern Ventures. ev.energy, a London- and Palo Alto, Calif.-based electric vehicle managed-charging software platform, raised $33 million in Series B funding. Evolution Equity Partners led the round and was joined by Salesforce Ventures, Acrew Capital, boldstart ventures, Knollwood Capital, and Pelion Ventures. and machine learning security company, raised $35 million in Series A funding. teams to do it themselves? And aren’t pretty much all companies talking about using A.I. That formula-80% fintech + 20% A.I.-can make these companies hard to compete with, he thinks.īut I wonder, what’s to stop the incumbents-be it Big Tech or in financial services-from just buying up these startups or A.I. He says he views it in two ways: Is the main value of the business derived 80% from the large language model the startup is using, or 80% from something else? For companies like Pine, Rosenberg argues that 80% of their value comes from their fintech business versus what A.I. It all plays into Rosenberg’s thesis around competitive advantage in A.I. wasn’t part of the investment thesis when the firm invested in Pine in 2022, Rosenberg says it’s now a big part of their strategy moving forward. But Greylock’s portfolio company Pine, a Canada-based digital mortgage lender, has “already done all that.” While A.I. A fledgling startup “would need to spend the next two years figuring out underwriting, getting capital markets partnerships, getting servicing contracts, and…two years from now, then they would start adding on A.I. technology into an established (but still young) business for something like, say, mortgage origination, than the other way around. Rosenberg reasons it’s easier to incorporate A.I.
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