AI Startups Draw Cross-Border Funding as Multiple Rounds Close
Fireworks AI, Fora, Whale and Syntetica have each closed new funding rounds, with backers spanning North America, Europe and Asia-Pacific.
AfroEuropa Newsroom
AfroEuropa desk
Several technology startups working on artificial intelligence and related deep-tech have announced fresh funding rounds, drawing investors from multiple regions.
Fireworks AI
Fireworks AI raised $1.5 billion in a Series D round that lifted its valuation to $17.5 billion, according to Ventureburn. The company said it now generates more than $1 billion in annualized revenue, a fivefold increase from a year earlier. The round was led by Atreides Management, Index Ventures and TCV, with participation from NVIDIA, Lightspeed, Evantic Capital, Bessemer, Menlo Ventures, Insight Partners, Ontario Teachers' Pension Plan and Lone Pine Capital. Founded in 2022 by Lin Qiao and six former Meta engineers, Fireworks helps organizations fine-tune open AI models. The company plans to expand its computing capacity, hire more engineers and deepen ties with cloud providers.
Keep reading
MuRay Raises €7.1M to Scan Rocket Engines With Muon Beams
The Hamburg deeptech firm is developing muon-based imaging to inspect dense, safety-critical parts that conventional X-rays cannot fully penetrate.
Other highlights
Intel Confirms Nova Lake CPUs Will Use In-House 18A-P Node
CEO Lip-Bu Tan said Intel's next flagship client processor will be built on the company's 18A-P node, with more details promised at CES in January.
Follow the story
One newsletter, two continents
The Bridge brings you the tech, startups, and leaders moving between Africa and Europe in one sharp email each morning. No spam, unsubscribe anytime.
