By Shikha Singh
Elon Musk’s xAI Now Valued at $50 bn Following Fresh Capital Injection.
Grok developer xAI has raised $5 billion in new funding, bringing its valuation to $50 billion, according to a report by the Wall Street Journal. First announced on Friday, the latest funding round complements the billions raised in May.
Valor Equity Partners, Sequoia Capital, and Andreessen Horowitz were reportedly part of the raise, while Qatar’s sovereign wealth fund also participated, per the report, which cited unnamed sources.
Amazon Doubles Down on AI Startup Anthropic with $4 bn Investment.
Anthropic, an AI startup, announced it raised an additional $4 billion from Amazon, bringing Amazon’s total investment to $8 billion. Amazon will remain a minority investor, and its AWS unit will be Anthropic’s official cloud provider. Additionally, Anthropic is collaborating with AWS’s Annapurna Labs to develop future generations of Amazon’s Trainium chips and train its models on the hardware.
Theory Ventures Launches $450 million Second Fund for the Next Generation of Enterprise Software.
After closing its first $238 million fund in April 2023, Theory Ventures, a venture capital firm specializing in early-stage investments in data, AI, and web3, has closed its second fund at $450 million.
The new fund will help scale its support for innovators leveraging emerging technologies. Tomasz founded the firm, with Lauren DeMeuse, a former Palantir executive, leading its institutional-grade operations.
20VC-Backed Crypto Wallet Deblock Raises £13.3 mn Amid Crypto’s New Boom.
According to recent filings, ex-Revolut and Ledger executives founded the crypto wallet startup Deblock, which raised £13.3 million in seed funding. Lead investors in the round include Headline, Hoxton, 20VC, and Chalfen. Jean Meyer, Aaron Beck, and Mario Eguiliuz founded the company in August 2022 and previously raised €12 million in 2023. Adriana Restrepo, former COO of Revolut’s European banking operations, joined as the fourth founder later that year.
Web3 gaming startup Kratos Gamer Network raises fresh funds; valuation jumps to $500 mn.
Accel and Prosus Ventures-backed Web3 gaming startup Kratos Gamer Network (KGeN) raised $10 million (about Rs 84 crore) in a funding round that saw its valuation surge more than threefold to $500 million.
Aptos Labs, a company that develops Web3 solutions for live service games, led the fundraise. Blockchain startup Polygon and esports network Game7 also participated.
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