The age of AI BS

PrivCo's Daily Stack ® is a daily financial newsletter, where you'll find the latest fundings and deals in the private market.

March 28, 2024

What We're Reading

Companies Are Luring Investors by Exaggerating What Their AI Can Do [Business Insider]
Elon Musk says all Premium subscribers on X will gain access to AI chatbot Grok this week [TechCrunch]
Amazon will have to publish an ads library in EU after all [TechCrunch]
Facebook snooped on users’ Snapchat traffic in secret project, documents reveal [TechCrunch]

Trending Companies

Scholar Education, a company that develops an AI-driven algorithm education platform, raises $1.5MM Equity Funding from Ed Buckley.

Artificial Intelligence • Tampa, FL • Post-Money Valuation

The BXNG Club, a company that operates a fitness club intended to provide overall fitness and health services, raises $2MM Equity Funding from Undisclosed Investors.

Fitness • San Diego, CA • Post-Money Valuation

Firewall, a company that develops crypto security solutions designed to eliminate fraud and exploits, raises $3.7MM Pre-Seed from North Island Ventures.

Fraud Protection • San Francisco, CA • Post-Money Valuation

TollBit, a company that developed an artificial intelligence that helps websites protect and monetize their content, raises $7MM Equity Funding from Sunflower Capital.

Artificial Intelligence • New York, NY • Post-Money Valuation

Todyl, a developer of security solutions that empower businesses with comprehensive cybersecurity delivered through a single-agent platform, raises $50MM Series B from Base10 Partners.

Cyber Security • New York, NY • Post-Money Valuation

Reach Security, a developer of a generative AI platform purpose-built to empower enterprise security teams, raises $20MM Equity Funding from Ballistic Ventures.

Generative AI • San Pablo, CA • Post-Money Valuation

Cayosoft, a company that develops software solutions that help organizations manage and protect their Microsoft infrastructures everywhere, from on-premises, to hybrid, to the cloud, raises $22.5MM Equity Funding from Centana Growth Partners.

Enterprise Software • Columbus, OH • Post-Money Valuation

BREVIAN, a developer of a no-code platform designed for business users, so they can create secure, customized AI agents to offload manual tasks, raises $9MM Seed from Felicis.

No Code • Sunnyvale, CA • Post-Money Valuation

Glimpse, a developer of a battery quality monitoring platform for cell producers and buyers, raises $4MM Seed from Ibex Mobility.

Batteries • Somerville, MA • Post-Money Valuation

Incendium Strategies, a growth studio and consultancy specializing in go-to-market design, campaign management, and strategic advisory for B2B tech and tech-enabled companies, raises $2.1MM Equity Funding from Operator Equity.

Consulting • Washington, DC • Post-Money Valuation

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DraftWise, an AI-powered contract and negotiation platform for lawyers, raises $20MM Series A from Index Ventures.

Artificial Intelligence • New York, NY • Post-Money Valuation

Clique, an infrastructure company enabling computing for blockchains, raises $8MM Series A from Polychain Capital.

Blockchain • San Francisco, CA • Post-Money Valuation

ConKay Medical Systems, a medical device company advancing unique solutions to treat valvular regurgitation in patients with progressive heart failure, raises $1.8MM Seed from SCP Ventures.

Cardiology • Pleasanton, CA • Post-Money Valuation

Sunfire, an industrial electrolysis company with two differentiated technologies: It develops and manufactures electrolyzers based on SOEC; and Alkaline technologies that enable a truly sustainable and cost-effective production of renewable hydrogen, syngas and e-Fuel, raises $215MM Series E from GIC.

CleanTech • Dresden, Germany

Zama AI, a company that develops an open source cryptographic tools that make protecting privacy easy with Homomorphic Encryption, raises $73MM Series A from Multicoin Capital.

Blockchain • Paris, France

Cosmology, a company that operates an application development platform intended to build Web3 apps in the interchain ecosystem, raises $5MM Seed from Galileo.

Web3 • London, United Kingdom

American Express Global Business Travel intends to acquire CWT, a company that provides business travel management services.

Travel • Minneapolis, MN • Deal

Exyte acquires Collabratech, a company that provides engineering and manufacturing solutions for semiconductor, medical, industrial and consumer sectors.

Contract Manufacturing • Phoenix, AZ • Deal

Spiffy acquires Nuvinair Global, a company that manufactures interiors for the automotive industry.

Automotive • Plano, TX • Deal

BlackRock Private Equity Partners intends to acquire SpiderRock, a company that provides wealth management services.

Advisory • Chicago, IL • Deal

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