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The week before Thanksgiving is typically busy with announcements of all sorts, but this week has been particularly interesting. Money was flowing to big problems, like defense, cybersecurity, and health.
Most Interesting Startup Stories from the Week
Low Battery: Struggling Swedish Unicorn Northvolt Files for Bankruptcy
Image Credits: N26
Let’s start with the bad news and (temporarily?) dash hopes. But there’s good news too.
Northvolt, a Swedish unicorn, filed for bankruptcy in the U.S., delivering a setback to Europe’s hopes of staking a claim in the battery-manufacturing space. This development may have significant implications for the European Union’s plans to become more self-sufficient in electric vehicle (EV) batteries.
Above the Line: German Fintech Unicorn N26 Has Its First Profitable Quarter
Image Credits: N26
On a positive note, German fintech unicorn N26 had its first profitable quarter, with a net operating income of €2.8 million ($2.9 million) during the third quarter of 2024. This achievement is a testament to the company’s growing success in disrupting traditional banking.
Wiz Buys Dazz: Cybersecurity Heavyweight Wiz Acquires Dazz
Image Credits: Dazz
Cybersecurity heavyweight Wiz acquired Dazz, a specialist in security remediation and risk management. According to sources, the cash-and-share deal is valued at $450 million, slightly more than Dazz’s recent $400 million post-money valuation.
Data Pipelines: Snowflake Agrees to Acquire Datavol
Image Credits: Snowflake
Alongside its Q3 earnings, cloud company Snowflake announced it agreed to acquire data pipeline management company Datavol for an undisclosed sum. This move is expected to enhance Snowflake’s offerings in the data integration space.
Most Interesting Fundraises this Week
Quick Commerce, Quick Funding: Indian Quick-Commerce Startup Zepto Raises $350 Million
Image Credits: Zepto
Some mega-rounds were announced this week, and smaller but still hefty amounts also went to startups tackling big problems. Quick-commerce startup Zepto raised $350 million in new funding, its third round of financing in only six months ahead of a planned IPO next year.
Gold Rings: Finnish Smart Ring Maker Oura Raises $75 Million
Image Credits: Oura
Smart ring maker Oura raised a $75 million investment from glucose device maker Dexcom in a Series D round of funding that brought its valuation to more than $5 billion. This development highlights the growing interest in wearable technology.
New Unicorn: Lighthouse Raises $370 Million at a $1 Billion Valuation
Image Credits: Lighthouse
Data analytics platform for the hospitality industry, Lighthouse, raised a Series C round of $370 million led by KKR at a $1 billion valuation. This achievement marks a significant milestone in the company’s growth journey.
Kirin Offers a Taste of Its Electric Salt Spoon at CES 2025
Image Credits: Kirin
At the recent Consumer Electronics Show (CES) 2025, Kirin showcased its electric salt spoon, providing a taste of what’s to come in the world of kitchen gadgets.
Withings’ Omnia is a Full-Size Body-Scanning Health Mirror
Image Credits: Withings
Health tech company Withings unveiled its full-size body-scanning health mirror, Omnia. This innovative product is set to revolutionize the way we track our health and wellness.
OpenAI Turns Its Attention to ‘Superintelligence’
Image Credits: OpenAI
As OpenAI continues to push the boundaries of artificial intelligence (AI), it has announced its focus on developing ‘superintelligence’. This ambitious goal may have significant implications for various industries.
Live Updates CES 2025: Nvidia, Samsung, Sony, Toyota Reveals, Plus More
Image Credits: CES
The recent Consumer Electronics Show (CES) 2025 was a showcase of cutting-edge technology and innovation. Catch up on the latest updates from top tech companies like Nvidia, Samsung, Sony, and Toyota.
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