Caitlin Panasci’s Post

Global startup funding surged to $79 billion in Q2, up 16% from Q1 and 12% from Q2 2023, with mega-rounds driving much of this increase. AI companies saw funding more than double to $24 billion, making up 30% of all investments and marking the largest AI funding quarter in recent years. Larger M&A deals provided much-needed liquidity to venture capital markets. Experts caution that this surge is not necessarily indicative of a market comeback, given funding fluctuations since 2023. With the looming election, the question arises: can this increase in venture funding persist for the rest of 2024? https://lnkd.in/gGbHMzva

Global food inflation could surge by up to 3.2 percentage points annually over the next decade, driven by rising temperatures, warns a study by the European Central Bank and the Potsdam Institute for Climate Impact Research. While extreme weather events like heatwaves, droughts, floods, and frosts, along with war and disease, have long disrupted food production and prices, climate change is now the dominant force. Permanently shifting weather patterns are slashing crop yields and pushing prices higher. This escalating crisis is reigniting debate: should central banks tackle food price shocks with interest rate hikes, just as they do with overall inflation? https://lnkd.in/gdyFDEBq #climatechange #sustainabledevelopmenttechnology #inspireglobalventures

Climate tech startups are booming this year, fueled by regulatory support, high energy prices, and strong investment. VC-backed deals soared from $2.1 billion to $8 billion in Q1, according to PitchBook. Exits, however, remain a challenge, with total exit value dropping over 50% from 2022 to 2023, reaching $9.3 billion. Yet, there are bright spots: standout startups like Northvolt and KoBold Metals are gaining momentum. These companies are making significant strides and could be gearing up for exciting IPOs in the near future. https://lnkd.in/gWWzYsWe #climatetech #sustainabledevelopmenttechnology #inspireglobalventures

Series A rounds haven't grown nearly as much as Seed rounds. Over the past 14 years, the Seed to Series A ratio has surged from about 1.1:1 to 5:1. Meanwhile, the Series B to Series A ratio has remained relatively constant, ranging between 3:1 and 4:1. Is a Seed apocalypse looming on the horizon? #inspireglobalventures #fundraising

Will X become the next Venmo? Is it surprising that PayPal's former cofounder is planning on integrating a payments network into X? Elon Musk plans to expand X into an "everything app" by integrating a payments network. Documents submitted to state regulators reveal a Venmo-like feature allowing users to store money, pay others, and buy goods. Musk aims to diversify X's revenue beyond advertising, envisioning it as the world's largest financial institution. #fintech #inspireglobalventure https://lnkd.in/gpBX_iq4

In 2022, Wells Fargo launched a credit card with fintech startup Bilt, backed by giants like Blackstone and Mastercard. The co-branded card offers a unique perk: users can pay rent without landlord fees while earning rewards points. Over one million accounts were activated in the first 18 months, attracting many young adults. Wells Fargo, however, is losing $10 million monthly as savvy customers flock to the card. These financial losses have prompted ongoing renegotiations. Wells Fargo has informed Bilt that it won’t renew their contract, ending in 2029, unless terms are improved. Despite these challenges, the credit card program propelled Bilt’s valuation to $3.1 billion in January, up from $1.5 billion in late 2022. The renegotiations are crucial to sustaining Bilt's ballooning valuation. #fintech #unicorn #venture https://lnkd.in/g25GJ8wf

India’s Oyo, once valued at $10 billion, is finalizing new funding at a $2.5 billion valuation. This marks a steep decline from its $10 billion valuation in 2019. The startup, which has raised over $3 billion from backers like SoftBank, Peak XV Ventures, Lightspeed, Airbnb, and Microsoft, has struggled to attract institutional investors. In recent months, it has aggressively pitched to high-net-worth individuals after withdrawing its IPO application twice in the past four years. Once a red-hot Indian startup active in markets including the U.S. and Europe, Oyo has now scaled back its international presence. #venture #downround https://lnkd.in/gE2GjYnM

What is the Future of Artificial Intelligence? Investing in Technology and AI? Accelerating Sustainability with AI? Join us at Microsoft Silicon Valley on June 25, 2024, for an electrifying deep dive into the Future of AI, Technology, and Venture. Explore the birthplace of venture capital and witness the transformative power of artificial intelligence shaping our world—today. We are thrilled to welcome an impressive lineup of speakers, including Lila Tretikov (Partner, Head of AI Strategy | NEA), Jeremiah Owyang (Partner | Blitzscaling Ventures, and Edith Yeung (Partner | Race Capital). Network with visionaries, tech leaders, and pioneers at the forefront of this revolution. Don't miss your chance to be part of this exceptional event. Limited availability—register now! 🔗 https://lnkd.in/gVfPeAUi

GPTZero has skyrocketed to profitability within 18 months, raking in millions. With 500% ARR growth in six months and user growth from 1 million to 4 million in a year. While many AI-detection companies struggle with accuracy, GPTZero excels, leveraging vast data and advanced LLM models using the latest open-source tools. Initially celebrated for helping teachers spot AI-generated student work, GPTZero's clientele now includes government agencies, grant writers, hiring managers, and AI training data labelers. One founder noted, "We have a big data advantage with millions of examples of human versus AI-generated text," proving the quality of data fed into AI models is crucial. https://lnkd.in/gREnQ2ps #ai #sustainabledevelopmenttechnology #emergingtechnology

How is AI starting to impact employees and recruitment? CB Insights recently examined Klarna, a "buy now, pay later" company that is cutting its workforce by 20% annually. In February, Klarna reported that its AI-powered assistant is performing the tasks of 700 full-time customer service agents, projected to save the company $40 million annually. Additionally, Klarna is using AI to optimize its marketing efforts, resulting in a 25% reduction in marketing agency expenditures. #AI #emergingtechnology #inspireglobalventures