 The United Arab Emirates has launched an $820M space fund. The National Space Fund will invest in space initiatives with the goal of diversifying the UAE economy. More: - This fund's first investment will be deployed toward a satellite initiative called Sirb (Arabic for "a flock of birds"). The UAE will launch a constellation of satellites that will be used to monitor the country's borders, ships, oil fields for spills, and other economically-related events that the UAE finds important.
- The first satellite will be launched in three years, while the project is planned to be entirely completed in six years.
- The country has recently invested in numerous fields such as tech, tourism, manufacturing, etc., in order to diversify its economy from oil. The UAE has some of the world's largest oil reserves and is the world's eighth largest oil producer. 30% of its GDP comes from the oil economy.
- The United Arab Emirates has made significant efforts in the space industry. In 2018 it sent the first satellite made 100% in the country to orbit, while it plans to send a rover to the moon by 2023.
Zoom Out: - The UAE recently announced that it is investing $2B in food tech companies in India, which will increase food production in the country up to threefold, according to U.S. President Joe Biden.
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 Italian startup Casavo announced that it has raised $410M. The company raised $110M as a Series D round and $300M as debt that will be used to buy properties. More: - Casavo is an online real estate platform that buys properties, fixes them, and puts them up for sale. It differentiates itself by making the purchasing process through its platform easier than its competition.
- The Series D was led by Exor, the holding company owned by the Agnelli family (Ferrari, Juventus, The Economist), with participation from Neva SGR, Endeavor Catalyst, Hambro Perks, Fuse Ventures, Greenoaks, Project A Ventures, 360 Capital, P101 SGR, Picus Capital, Bonsai Partners, and a number of angel investors.
- The company has seen annual transactions increase to 700,000, crediting the rise to the pandemic. Casavo claims that it will go beyond the services that companies such as Opendoor and Loft provide by becoming a broker platform too.
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Chase Corporation has acquired NuCera Solutions in a $250M deal. The chemicals company will buy NuCera through credit and a cash-on-hand agreement. More: - Chase Corporation is a Massachusetts-based company that produces protective materials that are used in special applications such as manufacturing, oil extraction, electronics, etc.
- NuCera Solutions, on the other hand, specializes in wax polymer solutions that are used in plastics, personal care, candles, etc.
- The deal is expected to be completed within the third quarter of 2022, while Chase will add NuCera to its Adhesives, Sealants, and Additives reporting unit.
Zoom Out: - Chemicals are recently experiencing a revival from VC investors due to topics such as energy shortages, food shortages, and healthcare becoming more critical than ever. A new projection recently claimed that India will reach $1T in exporting by 2028, led by chemicals.
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Machine learning startup Tecton has announced that it has raised a $100M Series C funding round. The funding round was led by Kleiner Perkins, with participation from Databricks, Snowflake Ventures, Andreessen Horowitz, Sequoia Capital, Tiger Global, and Bain Global Ventures. More: - The company has raised $160M so far, stating that it will deploy the funds to improve its engineering and go-to-market capabilities.
- Tecton provides a software platform that enables scientists to translate raw data into easy-to-understand figures and ready-to-ship features. The company claims that its product enables users to deploy machine learning in minutes, compared to other solutions in the market, which take months to do the same.
- The startup offers its services to different clients across the Fortune 500 as well as to companies like Convoy, HelloFresh, Plaid, and Tide.
Zoom Out: - Over $9.3B was invested in ML and AI startups in 2021, as the field is expected to disrupt virtually all verticals. Some entrepreneurs have called it the most influential technology since the internet itself.
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Today's funding 💵 Venture Capital - Cathay AfricInvest Innovation Fund (Africa), a Pan-African investment fund: $112M funding partnership between Cathay Innovation and AfricInvest.
- Apertu Capital (California), a VC fund that focuses on AI, cloud, food tech, and developer tech: undisclosed early-stage fund.
Fintech - Bloom (Sudan), a digital banking platform that offers high-yield returns for savings: $6.5M Seed round financed by Visa, Y-Combinator, GFC, Goodwater Capital, Venture Souq, and numerous angel investors.
- X1 Card (California), a smart credit card company that offers users reward programs, smart limits, and other automated features: $25M B led by FPV Ventures with participation from Craft Ventures, Spark Capital, Harrison Metal, SV Angel, Abstract Ventures, the Chainsmokers, and Global Founders Capital.
Health tech - Eka Care (India), a healthcare platform that digitizes health records for Indian citizens: $15M A led by Hummingbird Ventures with participation from 3one4Capital, Mirae Assets, Verlinvest, Aditya Birla Ventures, Binny Bansal, and Rohit MA.
- Retia Medical (New York), a company that creates solutions for advanced cardiovascular monitorization: $15M B led by Fresenius Medical Care Ventures.
- Humanity Health (New York), a talent sourcing online platform for underrepresented leaders in the medical field: $6M A led by Jumpstart Nova with participation from Deerfield Management.
SaaS - HireArt (New York), an online marketplace that aims to be a one-stop shop for sourcing, employing, and managing talent: $26.25M B led by Three Fish Capital.
Artificial Intelligence - Luffy AI (England), an Artificial Intelligence company that enables AI structures to adapt to their surroundings: undisclosed Seed round led by Chrysalix Venture Capital.
- Cornerstone AI (California), an AI company that aims to improve how healthcare data is managed: $5M Seed led by Healthy Ventures with participation from Initiate Ventures.
Social Media/Entertainment - Stationhead (New York), a social network where users can host live music-listening sessions: $12M A led by Buttonwood Group Advisors with participation from Diplo, Red Light Management, TMWRK, Round Hill Publishing, Avex Entertainment, and other angel investors.
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Quick Hits: - Ransomware attacks grew by 485% in 2020. This multi-pronged approach can help organizations respond to and recover from ransomware attacks.*
- Fitchin, a Web3 platform that connects esports players, teams, and content creators, raised $3.5M in a Seed round.
- Vermont will receive over $57M in funding to support its small businesses with capital. The funding will be given through the American Rescue Plan Act by the federal government.
- Mahalo Banking, a company that provides online banking for credit unions, raised a $20M funding round led by Superior Credit Union.
- Astro space, a Web3-based mobile game, closed its pre-seed round at a $25M valuation.
- How’s your current digital marketing strategy? Make it even stronger with our new interactive worksheet.*
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 |  | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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