Hello there,

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 🌎️

If you haven't subscribed yet, now's the perfect time. Don't miss the opportunity to supercharge your understanding and stay ahead in this dynamic world.

Let's delve into the core sections of our weekly newsletter:

• 📰 Important News

• 💸 Top Funding Rounds

• 💰️ Notable Exits

• 🏦 About Investors

• 📈 Deep Dive Bites

• 🤝 Diversity Spotlight

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• Microsoft is to start paying publishers for content in its new Copilot Daily feature, providing weather and news summaries to users.

• Elon Musk's AI startup, xAI, has moved into the former headquarters of OpenAI in San Francisco's Mission district.

• OpenAI co-founder Durk Kingma has joined Anthropic to focus on responsible AI development while working remotely from the Netherlands.

• Israel's Innovation Authority announced 20 green techs to represent Israel at COP29 focusing on sectors like renewable energy and water.

• AI reading coach Ello launched "Storytime" allowing kids to create personalized stories with various settings and characters.

💸 Top Funding Rounds

• OpenAI has raised $6.6 billion in a funding round led by Thrive Capital, valuing the company at $157 billion alongside a $4 billion revolving credit line.

• US-based Joby Aviation has secured a $500 million investment from Toyota to support completing FAA Type 2 certification and commercial production of its electric air taxis.

• Toronto-based Koho Financial has secured $139.93 million in a funding round including $29.46 million in equity led by PROPELR Growth.

• Israeli cloud backup startup Eon emerged from stealth with a $77 million raise at a $750 million valuation before its product launch.

• Nym, an Israeli startup focused on autonomous medical coding, raised $47 million in a funding round led by PSG.

💰️ Notable Exits

• VisiQuate has been acquired by Accel-KKR, enhancing its advanced revenue cycle analytics and AI workflow solutions.

• BlueCat Networks has agreed to acquire LiveAction to enhance its network management solutions with LiveAction's observability platform.

• Perelel has acquired LOOM, a women's health platform founded by Erica Chidi, who will join Perelel as a strategic advisor.

• Lex, a social and dating app for the LGBTQ+ community, has been acquired by mobile app conglomerate 9count.

• Benny Landa's lab-grown diamond firm Lusix is set to sell for $2.5 million to Japanese investor Naoji Fujimori after losing $65 million in two years.

🏦 About Investors

• Silicon Valley's Lightspeed Venture Partners is raising about $7 billion across three new funds, surpassing its previous $6.7 billion in 2022.

• Ali Rowghani, former head of Y Combinator’s Continuity Fund, is launching a new venture firm called Maxq, targeting $250 million for its inaugural fund.

• Venture firm CRV is returning $275 million from its $500 million Select fund due to the overvaluation of mature startups.

• Canadian GreenSky Ventures has closed over $11.05 million for its sixth fund, aiming to raise $18.5 million by year-end.

📈 Deep Dive Bites

Explore the dynamic venture capital landscape of San Francisco, where leading firms are not just fueling startups but also shaping the future of innovation. From investing in industry giants like Airbnb and Meta to nurturing emerging players like Rippling and GitLab, these VC firms play a pivotal role in the entrepreneurial ecosystem. Delve into the full article to discover the most active VC firms, their notable portfolio companies, and the impact they have on driving startup success in one of the world’s premier tech hubs.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Open AI

OpenAI has successfully raised $6.6 billion in a significant funding round led by Thrive Capital, which contributed $1.3 billion. This investment values the company at $157 billion and includes a $4 billion revolving credit line. Microsoft, OpenAI's largest backer, added approximately $750 million to its prior $13 billion investment, while other notable investors included Khosla Ventures, Fidelity Management & Research Co., Nvidia Corp., Tiger Global Management, Altimeter Capital, SoftBank Group Corp., and MGX, among others. This deal marks one of the largest private investments in history, positioning OpenAI as one of the three largest venture-backed startups alongside SpaceX and ByteDance. Founded in 2015 and headquartered in San Francisco, OpenAI aims to develop "safe and beneficial" artificial general intelligence (AGI) that can outperform humans in economically valuable tasks.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Lightspeed Venture Partners

Lightspeed Venture Partners, a prominent venture capital firm based in Menlo Park, California, is raising approximately $7 billion across three new funds, exceeding its previous $6.7 billion raised in 2022. About 40% of this new capital will be allocated to an opportunity fund aimed at investing in existing portfolio companies. The remaining funds are expected to support both a growth-stage fund and a fund focusing on seed and Series A investments. Lightspeed, known for backing successful companies like Snap, Nest, and Stripe, currently manages around $25 billion in assets across eleven global offices.

🤑 Opportunity Radar

Techstars Anywhere Accelerator

Apply to the Techstars Anywhere Accelerator by May 22nd, 2024, to elevate your startup from anywhere in the world. This innovative remote-first program, designed for companies across various industries, offers access to top-tier mentorship, funding of up to $120,000, and a worldwide network of investors. With three in-person meetups throughout the Americas, you'll gain valuable insights and connections to help you succeed. The accelerator kicks off on September 9th, 2024, and culminates in a Demo Day on December 5th, 2024. Don’t miss this opportunity to join a dynamic community of entrepreneurs and accelerate your business journey.