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🕶️ Siri's Revenge: Altman's Quest for the 'iPhone of AI'

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While European startups face challenges due to limited funding opportunities, other regions show more promise 🌎

Sam Altman and former Apple design chief Jony Ive are making significant investments in developing AI-powered personal devices. Interested in being an early-stage investor? 💰

Additionally, learn some tips to avoid obsolescence as an AI startup and Boston is emerging as a formidable player in the startup ecosystem.

Keep reading for more insights! 👇

Six bullets of updates

  1. 🎓 Boston punches above its weight in the startup scene, closing 208 deals worth $3.5B in Q4 2023, thanks to a robust university system and a wealth of STEM talent.

  2. 👾 AI startups must avoid obsolescence by integrating AI into clients' workflows. This and more tips for avoiding obsolescence.

  3. 🟩 New Greenhouse Gas Reduction Fund seeds $20B for small-scale green projects, expected to get $7 in private capital for every $ given.

  4. 🚀 To infinity and beyond! Oxford-based Space Solar lights up LED sign with the world's first 360° wireless power transmission.

  5. 🌐 Instagram Threads misses its moment as users turn to X over a NY/NJ earthquake, showing real-time info limitations.

  6. 💰 Eric Liaw of IVP discusses their $1.6B new fund, firm succession, and the Klarna commotion.

Startup Events and Deadlines

  1. Financial Modeling | Course | April 15 - 19 | A LIVE 1-week course to create investor-proof projections, estimate your fundraising needs, and track the core KPIs for any kind of startup #Opportunity Use our coupon code "LASTCALL" for $50 of the total price

  2. SaaSiest Sweden | Conference | April 16 - 17 | Malmö, Sweden   

  3. TechCrunch Early Stage | Conference | April 25 | Online

  4. SaaStock: USA | Conference | May 13-15 | Austin, TX 

Welcome to the challenge of state subsidies

European startups risk losing innovative technologies due to a lack of funding opportunities. This relates to raising funds for European deep-tech startups, which remains highly complex. So, where is the best place to obtain this financing?

According to Christoph Jenny, co-founder of the Swiss plant-based food startup Planted, the search is better directed towards the Middle East, the United States, and Asia. Jenny speaks from experience, as Planted has raised $107 million in grants and venture capital, with Europe not being the most accessible place to do so. While they did well with a fund from Switzerland, it came from a state subsidy, indicating that such funds are an essential key when seeking opportunities. 

Could this type of fund be the secret ingredient to success when looking for funds? You can find more insights related to these findings in this article.

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These companies just raised money

  1. 🎮 It’s in the game! Bitkraft Ventures locks in $275M for its third fund, backing gaming studios despite a 72% YoY investment dip in the sector.

  2. 📊 French SaaS startup Pigment reels $145m in Series D funding, looking for expansion and AI enhancements.

  3. 🌪️ Maniv, venturing into broader climate tech, lands a $140M fund, expanding from its Israeli startup roots to a global portfolio.

  4. 🇸🇬 Singaporean startup SingleInterface raises $30M in maiden funding round to expand online tools for offline businesses.

  5. 🛒 Buy now, pay later firm Koin, got $7.3M to boost tourist sector loans; currently with 1.000+ retail clients in 8 Latin American countries.

Do you have $1B to finance the iPhone of AI?

Former Apple design chief Jony Ive and OpenAI CEO Sam Altman are reportedly raising $1B to develop AI-powered personal devices.
Here are some details we have about the joint project:

  • Its provisional name is "iPhone of AI".

  • It's caught the attention of venture capital firms like Thrive Capital and Emerson Collective.

  • The product aims to design an intuitive AI interaction method that could eventually compete with the innovations achieved by Apple.

  • Softbank CEO Masayoshi Son has suggested to Ive and Altman that they could partner with Arm, a chip design company in which Softbank holds a 90% stake.

The project is in its early stages, but it makes us curious to learn more and consider how far it could go.

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