Perplexity, Loadar, Corsmed, Vultr, Agave Games, SleepCogni, Bureau announces $889 million fundraising

Loadar Raises $4M to Streamline Freight Management

Belfast startup Loadar has secured $4 million in seed funding to expand its freight procurement and management platform. Founded in 2022 by Ciaran Doherty, Loadar aims to reduce transport costs by 15% for large enterprises.

- Funding: $4 million (€3.8 million) seed round

- Lead investor: Frontline Ventures

- Participating investor: Techstart Ventures

- Founder: Ciaran Doherty (CEO)

Loadar's platform offers multi-modal logistics solutions covering road, sea, air, and rail. The funding will support US market expansion and doubling the team size within a year.

Will Prendergast of Frontline Ventures noted the platform's potential to manage transport costs and reduce carbon footprint simultaneously. Loadar plans to capitalize on the growing need for efficient logistics management in an increasingly disrupted global supply chain landscape.

Corsmed Raises €3.3M to Revolutionize MRI Scanning

Stockholm-based MedTech startup Corsmed has secured €3.3 million in funding to advance its MRI simulator software. The investment round was co-led by Luminar Ventures and Big Pi Ventures, bringing Corsmed's total funding to €9.5 million.

- Founded in 2019 by Erik Jacobsson (CEO), Christos Xanthis (CTO), and Athanasios Polimeridis (CSO)

- Aims to reduce MRI scan times from 45 minutes to 2-3 minutes

- Software can generate high-resolution 3D brain contrasts 10 times faster than current norms

- Already used by institutions like The Christie NHS Foundation Trust, CNI College, and Gurnick Academy

- Has saved over 80,000 hours of traditional scanner usage

The funding will support FDA approval, commercialization, and global distribution efforts. Corsmed's technology aims to democratize MRI scans, potentially saving thousands of lives daily by enabling earlier detection of life-threatening conditions at a fraction of the current cost.

Investments is led by:

- Magnus Bergman, co-founding Partner at Luminar Ventures

- Nick Kalliagkopoulos, Partner at Big Pi Ventures

AI Cloud Startup Vultr Secures $333M in Landmark Funding Round

Vultr, a West Palm Beach-based cloud infrastructure startup, has raised $333 million in its first external funding round, achieving a valuation of $3.5 billion. Founded in 2014 by David Aninowsky, Vultr offers AI infrastructure and cloud computing services across 32 global data center locations.

- Funding: $333 million

- Valuation: $3.5 billion

- Founded: 2014

- Headquarters: West Palm Beach, Florida

The investment round was co-led by LuminArx Capital Management and AMD Ventures. This marks Vultr's first equity financing since its inception, following a $150 million credit facility secured in 2021 from Bank of America and JPMorgan Chase.

Vultr plans to use the funding to expand its GPU fleet, particularly focusing on AMD's MI300X accelerators, and enhance its global data center network. The company aims to support enterprise customers and AI innovators in building, deploying, and scaling AI worldwide.

- David Aninowsky: Founder and Executive Chairman of Vultr

- J.J. Kardwell: CEO of Vultr

- Tanisha Keshava Bellur: Partner at LuminArx

- Mathew Hein: Senior VP and Chief Strategy Officer at AMD

This investment highlights the growing demand for AI infrastructure and positions Vultr as a significant player in the rapidly expanding AI chip market, competing with major cloud providers by offering more affordable and flexible infrastructure options.

Agave Games Secures $18M Series A for Hit Mobile Game "Find the Cat"

Turkish startup Agave Games has raised $18 million in a Series A funding round for its popular mobile game "Find the Cat." The puzzle game, which challenges players to locate cats in complex illustrations, has amassed over 10 million downloads since its August launch.

- Total funding: $25.5 million

- Post-money valuation: Approximately $100 million

- Revenue: $10 million on Android alone (per SensorTower estimates)

Investors:

- Felix Capital (co-lead)

- Balderton Capital (co-lead)

- E2VC

- Alper Oner: CEO and co-founder

- Ali Baran Terzioglu: Co-founder

- Burak Kar: Co-founder

- Oguzhan Merdivenli: Co-founder

- Rob Moffat: Partner at Balderton Capital

Agave Games plans to use the funding to expand its team and develop at least two new titles in the coming year. The company leverages AI in its creative process, using it to generate initial game images before human artists refine them.

This investment highlights Turkey's growing prominence in the mobile gaming industry, following successful ventures like Peak Games and Dream Games. Agave aims to capitalize on the booming casual mobile game market, with investors seeing potential for it to become a $100 million revenue company.

SleepCogni Secures £300,000 in Bridging Round for Insomnia Care

Sheffield-based medtech startup SleepCogni has raised £300,000 in a pre-approved Enterprise Investment Scheme bridging round, bringing its total funding to £3.9 million. The company, which focuses on insomnia care, received support from existing investors and grants for this latest funding round.

1. Funding: £300,000 raised, total funding now at £3.9 million

2. Investors: Existing investors and grants (specific names not disclosed)

3. Future plans: Larger funding round planned for 2025

4. Goals: Achieve CE and FCC approvals, commercialize in the global sleep tech market

The leadership team:

- Richard Mills: Chief Executive Officer

- Mark Milton-Edwards: Newly joined (former head of product and health solutions at Teva Pharmaceuticals)

- Joseph Hawkins: Appointed as Chief Operating Officer

The company's therapy has shown significant improvements compared to sham control in randomized clinical trials. SleepCogni is also involved in a project with Sheffield Children's NHS Foundation Trust to address insomnia in children, supported by over £340,000 from Innovate UK.

Bureau Raises $30M in Series B to Combat Identity Fraud

Cybersecurity startup Bureau has secured $30 million in a Series B funding round led by Sorenson Capital. This investment values the company at $150 million and will fuel its efforts to tackle user identity fraud.

- Funding: $30 million Series B

- Valuation: $150 million

- Lead investor: Sorenson Capital

- Other investors: PayPal Ventures, Commerce Ventures

Bureau's AI-driven tools, including the Money Mule Score, have attracted clients such as Rapido and IDFC First Bank. The company plans to use the funds for:

1. Geographical expansion into Saudi Arabia, North America, and Mexico

2. Workforce growth, aiming for a 41% increase by 2025

3. Advancement of AI-driven innovations

This funding round reflects the growing demand for cybersecurity services, especially as high-profile cyberattacks on companies like Microsoft and Walt Disney continue to rise. Bureau's expansion into emerging markets aligns with the global trend of businesses strengthening their defenses against cyber risks, potentially influencing future investment strategies and national security frameworks.

Perplexity AI Secures $500M Funding, Acquires Carbon

Perplexity AI, creator of an AI-powered search engine, has raised $500 million in a new funding round, valuing the company at $9 billion. This significant investment, led by Institutional Venture Partners, marks Perplexity's fourth funding round in 2024, dramatically increasing its valuation from $520 million at the start of the year

1. Funding: $500 million raised

2. Valuation: $9 billion

3. Lead investor: Institutional Venture Partners

4. User base: Over 15 million active users (as of March)

Alongside this funding news, Perplexity announced its acquisition of Carbon (JDCT Inc.), a startup specializing in retrieval-augmented generation (RAG) technology. This acquisition aims to enhance Perplexity's premium features, allowing users to search through personal files and work messages

Perplexity's AI search engine differentiates itself by providing real-time information in a conversational format, similar to ChatGPT but with up-to-date web searches. The company offers both free and subscription-based services, with premium features including internal file search and enhanced finance-related tools

The acquisition of Carbon and the substantial funding indicate Perplexity's potential move towards enterprise search solutions, positioning it to compete with other major players in the AI industry such as OpenAI, Google, and Microsoft

---

Join the Future of Venture Capital Investing with Newnex

Newnex is redefining venture capital by fostering collaborative and private investing and fundraising between VCs (GPs), Limited Partners (LPs), and Startups.

Newnex simplifies syndication and co-investment for institutional investors, with a mission to connect 5,000+ VC and LP firms and 100,000 venture scale startups on a trusted platform for seamless, reference-only private deal-making.

Join Newnex for free www.newnex.io