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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 wrapped up its 12 Days of OpenAI with major announcements including the release of o3, and o3 mini.

• The Supreme Court will hear arguments on January 10 about TikTok and ByteDance’s challenge to a U.S. law that could ban TikTok in the country.

• Cohere is quietly working with Palantir to deploy its AI models to enterprise customers, including those with strict data storage and language constraints.

• Four months after Intel shut it down, Ignite relaunched as an independent accelerator to support deep-tech startups.

• Israel unveiled its first 20-qubit domestically built quantum computer, marking a milestone in the country’s technological advancement.

💸 Top Funding Rounds

• Databricks secured $10 billion in Series J funding, reaching a $62 billion valuation to advance its AI-driven data analytics platform.

• Perplexity AI raised $500 million in a round led by IVP tripling its valuation to $9 billion.

• Hostaway, a Miami-headquartered traveltech, raised $365 million in a growth investment led by General Atlantic to fuel international expansion.

• Vultr raised $333 million at a $3.5 billion valuation to fuel its expansion in AI infrastructure with backing from LuminArx and AMD Ventures.

• SandboxAQ raised $300 million in funding, bringing its valuation to over $5.6 billion, to expand its team of quantum technology and AI experts.

💰️ Notable Exits

• Chime has filed confidential paperwork with the SEC for a potential IPO in 2025, following a $25 billion valuation and $2.65 billion in funding.

• Spyware startup Paragon, known for its Graphite software, was acquired by AE Industrial Partners for $500 million.

• Grammarly is acquiring productivity startup Coda, making Coda’s CEO Shishir Mehrotra the new CEO of Grammarly.

• Israeli fintech Morning, creator of the "Green Invoice" platform, has been acquired by Italy's TeamSystem for $150 million.

• Perplexity has acquired Carbon to integrate its retrieval augmented generation technology, enabling AI to search through files and messages.

🏦 About Investors

• SoftBank CEO Masayoshi Son announced a $100 billion US investment in AI and emerging tech over four years, with potential to create 100,000 jobs.

• Real estate VC firm Fifth Wall is raising a $500 million fund called Fifth Wall React to invest in proptech startups following a challenging 2022.

• Israel’s Vgames raised $142 million for its third fund to invest in gaming ventures at various stages.

• Songyee Yoon launched Principal Venture Partners, a $100 million AI fund to back early-stage startups, focusing on AI-native companies.

• Over 20 venture firms have signed the Clean Capital Certification, pledging not to accept funds from adversarial countries like China and Russia.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Databricks

Databricks, a leader in Data and AI founded in 2013 by the creators of Apache Spark, has raised $10 billion in its Series J funding round, bringing its valuation to $62 billion. Led by Thrive Capital and co-led by prominent investors including Andreessen Horowitz and DST Global, this funding will fuel Databricks' growth in AI product development, acquisitions, and global market expansion. The company has seen over 60% year-over-year growth and expects to surpass a $3 billion revenue run rate with positive free cash flow by the end of 2024. Known for its Data Intelligence Platform, which helps organizations innovate across industries, Databricks is expanding its global presence with new hubs in London, Singapore, and broader reach in Latin America and the Middle East.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

SoftBank

SoftBank, founded in 1981 by Masayoshi Son, is a Japanese multinational investment holding company headquartered in Tokyo. Initially a software distributor, it has since expanded into a diverse range of sectors, including internet services, telecommunications, robotics, and artificial intelligence. Known for its aggressive investment strategy, SoftBank has made significant moves in global tech, including its Vision Fund, which has backed numerous high-profile companies. Son’s leadership has been pivotal in SoftBank’s transformation into one of the world’s largest and most influential investment firms. Its recent commitment to invest $100 billion into the U.S. over the next four years, aimed at creating 100,000 American jobs, underscores its continued focus on emerging technologies and innovation. This announcement builds on a 2016 pledge to invest $50 billion and create 50,000 jobs, further solidifying SoftBank's role as a key player in global investment and technology development.

🤑 Opportunity Radar

Call for Applications: Spartners Incubator

Apply to the Spartners Incubator Program in Paris-Saclay by December 29th, 2024, to accelerate your biotech or human health startup. Access state-of-the-art labs, modular workspaces, and a collaborative ecosystem powered by Servier’s scientific expertise and BioLabs’ operational excellence. Designed for startups addressing unmet medical needs, the program offers expert support and strategic networking opportunities. Don’t miss this opportunity to drive your innovation in oncology, neurology, or drug discovery platforms. Start your application today and take the next step in transforming health innovation.