Satya Patel of Homebrew is a top early-stage investor known for spotting billion-dollar winners in overlooked industries like banking and HR, exemplified by his early backing of companies like Chime, Gusto, and Plaid, often guiding their growth and strategic decisions. His broad 'bottom-up' investment philosophy involves betting on and nurturing companies in 'boring' sectors with high-tech enhancements, leading to significant valuations and successful exits.
San Francisco-based conversational AI startup Vocode, founded in 2023, has raised $3.25 million in seed funding without a formal pitch deck. The company, which offers open-source products for developers to create conversational AI tools, was initially admitted to Y Combinator without a business plan. The funding, secured from investors including Y Combinator, Base10, GV, Gradient, Accel, and Liquid2, will be used to expand the team and further integrate with tech companies in the US.
Stellar Sleep, a startup focused on chronic insomnia management, has raised $6 million in seed funding to address the root cause of chronic insomnia through their mobile app, which utilizes psychology-based methodologies to help users re-learn how to sleep well. The app, priced at $60 a month, offers a personalized program combining various therapies and techniques, and has been found to be 50% more effective than sleeping pills. The funding will be used to expand content, curriculum, and clinician partnerships to enhance user experience and scale the program to reach more individuals suffering from chronic insomnia.
Bitcoin has surged nearly 10% to surpass $43,000 ahead of the Fed's rate decision, with altcoins SOL and AVAX leading the rally. Binance now allows larger traders to store assets at independent banks amid regulatory concerns, while decentralized exchange Portal has raised $34 million in seed funding to facilitate peer-to-peer bitcoin swapping across blockchains. The crypto industry's brightening prospects for raising capital and growing interest in bitcoin within the DeFi world are evident.
California startup Helicity Space has raised $5 million in a seed funding round to develop fusion engines for spaceflight. The funding comes from strategic partners including Airbus Ventures, TRE Ventures, Voyager Space Holdings, E2MC Space, Urania Ventures, and Gaingels. Helicity aims to deliver a proof-of-concept fusion drive and demonstrate the novelty of its technology before putting it into space. Fusion engines have the potential to revolutionize space travel by providing clean and efficient propulsion, reducing travel time to Mars and beyond. The company's technology is based on the work of its chief scientist, Setthivoine You, and has been developed specifically for space propulsion.
Spanish startup Arkadia Space has raised $3 million in seed funding to expand its facilities and workforce in developing spacecraft thrusters that use green propellants. The funding round was led by Draper B1 and included participation from Expansion Ventures and several angel investors, including former Spanish astronaut Pedro Duque. Arkadia Space aims to market a small monopropellant thruster in 2024 and is emphasizing the use of non-toxic propellants as alternatives to hydrazine. The company was founded by former members of the propulsion team at PLD Space and has also received funding from the European Space Agency.
Sourcetable, a startup aiming to build "the world's best spreadsheet," has raised $3 million in seed funding to take on the spreadsheet challenge posed by Microsoft Excel and Google Sheets. The company plans to focus on improving integrations, templates, analysis, reporting, and collaboration features. Sourcetable aims to attract professionals in sales, accounting, finance, support, and HR who require access to and manipulation of significant data. The startup is currently in private beta and plans to launch publicly by the end of the year.
