Dynamic Business brings you the key startup fundraising from this week:
Blackstone acquires AirTrunk in $23.5 billion deal
AirTrunk founder Robin Khuda has secured billionaire status after selling his nine-year-old data center business to Blackstone in a deal valued at $23.5 billion, underscoring the financial gains fueled by the artificial intelligence surge.
Blackstone, the New York-based asset management giant, outbid a consortium led by superannuation fund manager IFM Investors to acquire AirTrunk from Khuda and Macquarie. Khuda will receive over $500 million in cash and retain a stake of similar value while staying on as CEO. The deal is the largest corporate transaction in Australia this year and ranks as the fifth largest ever, following Block’s $39 billion acquisition of Afterpay in 2021 and other major deals.
Root signals raises $2.8M to advance GenAI measurement tools
Helsinki and Palo Alto-based startup Root Signals has raised $2.8 million to enhance its generative AI (GenAI) platform. Specializing in measurement techniques using LLM-as-a-judge methods, Root Signals aims to help businesses adopt enterprise-grade AI tools for managing LLM applications.
The funding round was led by Angular Ventures, with support from Business Finland. Root Signals plans to accelerate platform and model development, as well as strengthen its sales and marketing.
Two space startups Receive $100k each from south Australian government
Two South Australian space startups have been awarded $100,000 each from the state’s inaugural Space Collaboration and Innovation Fund. Safety from Space will use the funds to trial its Lunar Search and Rescue (LunaSAR) project, which focuses on satellite communications for astronaut rescue missions on the Moon. Another startup will advance its lightweight spacecraft, which incorporates AI capabilities.
Agtech startup inform Ag secures $7 million investment
Queensland-based farm management platform Inform Ag has sold a 43% stake in its business for $7 million in its first external funding round. The investment came from the ASX-listed Rural Funds Group, marking a strategic shift for the agricultural fund manager, which traditionally invests in livestock and crops such as almonds and macadamias.
Supio secures $25m in Series A funding for AI Legal tech expansion
Seattle-based AI company Supio has raised $25 million in Series A funding, bringing its total funding to $33 million. The company plans to use the funds to expand its operations and further develop its AI-driven legal technology, which specializes in personal injury and mass tort cases using Large Language Models (LLMs).
Butlr raises $38M to expand AI in senior care
Butlr, a Burlingame-based AI startup, has raised $38 million in Series B funding to expand its physical AI solutions, particularly in senior care communities. Investors include Pacific Alliance Venture, GS Futures, Qualcomm, and others. The company plans to use the funds to grow its presence in the senior care sector.
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