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Welcome to another edition of 🔍 Startup Researcher - North America and Israel, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌎️

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📰 Important News

• OpenAI's board unanimously rejected Elon Musk’s $97.4 billion bid to buy its nonprofit, calling it an attempt to disrupt competition.

• Stripe is exploring an employee shareholder sale at a valuation of at least $85 billion, following a similar $70 billion tender offer last year.

• Fourteen publishers, including Condé Nast and Forbes, are suing AI startup Cohere for allegedly using thousands of copyrighted works to train its models.

• Anthropic is set to launch a new AI model within weeks, featuring a hybrid approach that balances deep reasoning and speed.

• Perplexity launched its freemium Deep Research tool, joining Google and OpenAI in offering AI-driven in-depth research with real citations.

💸 Top Funding Rounds

• Apptronik raised $350 million in Series A funding led by B Capital and Capital Factory to accelerate the deployment of its AI-powered humanoid robot.

• Harvey closed $300 million in Series D funding led by Sequoia at a $3 billion valuation to enhance its AI-powered legal platform.

• QuEra Computing secured over $230 million from investors including Google and SoftBank to accelerate the development of quantum computers.

• Abcuro raised $200 million in Series C funding led by NEA and Foresite Capital to advance its Phase 2/3 trial of its body myositis treatment.

• Chestnut Carbon raised $160 million in Series B funding to expand its projects, accelerate carbon removal, and enhance the voluntary carbon market.

💰️ Notable Exits

• eToro has officially filed a confidential prospectus for a Wall Street IPO, aiming for a valuation of at least $5 billion after a previously failed SPAC.

• Drata has acquired SafeBase for $250 million, integrating its AI-driven security questionnaire automation into Drata’s compliance platform.

• KSP’s founders are exiting with $195 million as Migdal, More, and Altshuler Shaham acquire a 30% stake in the company at a $650 million valuation.

• CyberArk is acquiring Zilla Security for up to $175 million to enhance its Identity Security Platform with AI-powered IGA capabilities.

• HiBob is acquiring Mosaic for an estimated $35 million to integrate FP&A capabilities into its HR platform.

🏦 About Investors

• Founders Fund is set to close a $3 billion growth fund by March, focusing on late-stage investments in top portfolio companies like Anduril.

• Ulu Ventures, the largest Latina-led seed-stage VC firm in the US, raised $208 million for its fourth fund, doubling AUM to over $400 million.

• Thomson Reuters launched its second $150 million CVC fund to invest in early-stage tech startups across legal, fintech, and compliance sectors.

• The Canada Growth Fund is committing up to $50 million to Longbow Capital’s second Energy Transition Fund to support North American cleantechs.

• Sivan Shamri Dahan is leaving Qumra Capital after a decade to launch her own investment fund, shifting focus from late-stage to early-stage startups.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Apptronik

Apptronik, a Texas-based robotics company founded in 2016, specializes in developing advanced humanoid robots designed to enhance human productivity across various industries. The company has secured $350 million in Series A funding, co-led by B Capital and Capital Factory, with participation from Google, to accelerate the production and deployment of Apollo, its AI-powered humanoid robot built for logistics, manufacturing, and potentially healthcare applications. With a strong focus on human-centered design, Apptronik has established key partnerships with industry leaders like Mercedes-Benz and NASA, positioning itself at the forefront of humanoid robotics innovation and redefining human-robot collaboration on a global scale.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Ulu Ventures

Ulu Ventures, a Silicon Valley-based seed-stage VC firm and the largest Latina-led fund in the U.S., has raised $208 million for its fourth fund, bringing its total assets under management to over $400 million. Founded by Miriam Rivera and Clint Korver, Ulu focuses on high-growth information technology and internet companies while prioritizing diverse and underrepresented founders. With backing from institutional investors like the Ford Foundation, Citi Impact Fund, and Pivotal Ventures, Ulu continues to strengthen its portfolio, which includes ten unicorns and notable exits like SoFi and Palantir, solidifying its reputation as a data-driven, impact-focused investor.

🤑 Opportunity Radar

Call for Applications: Berkeley SkyDeck Accelerator Program

Apply to the Berkeley SkyDeck Accelerator Program by February 18, 2025, to elevate your startup with premier mentorship and funding. Located at UC Berkeley, SkyDeck offers selected startups a $200,000 investment, access to Silicon Valley’s top investors and advisors, and a vibrant innovation ecosystem. The program welcomes startups across all industries, providing tailored support, collaborative workspace, and a robust global network. Seize this opportunity to advance your venture—apply now to join the next cohort starting May 5, 2025.