SoftBank-backed startup Lumu closes $7 5M funding round tynmagazine.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tynmagazine.com Daily Mail and Mail on Sunday newspapers.
Cloud cybersecurity startup Lumu raises a $7.5 million Series A
Miami-based cybersecurity startup Lumu today announced the closing of its $7.5 million Series A. The round was co-led by SoftBank Group Corp.’s SB Opportunity Fund and Panoramic Ventures.
Lumu, co-founded and headed by Colombian native Ricardo Villadiego, offers a cloud-based service that helps companies continually scan and react to data compromises in real time. The company collects and standardizes metadata from across the network, including DNS queries, network traffic, access logs from perimeter proxies, firewalls and spam box filters, then applies AI to correlate threat intelligence from these disparate data sources to isolate confirmed points of compromise.
Startup Funding: February 2021
In February, several startups emerge from stealth, with one company working on AI inference architectures for the data center and another trying to make lenses thinner by patterning surfaces with tiny structures. Two new Chinese companies are trying to expand the country’s semiconductor design ecosystem with GPUs and interface IP. Plus, a maker of AI chips for ADAS draws another massive round this month as we take a look at 22 startups that collectively raised over $1.2B.
Semiconductors & design
GPU startup
Moore Threads raised an undisclosed amount of pre-A Series funding (stated as billions RMB 1.0B RMB is about $155M) led by
Edge AI startup raises $10m for electronics manufacturing February 10, 2021 // By Nick Flaherty
Adaptix in the US has raised $10m to build the next generation of edge AI automation control software.
The funding from Softbank’s Opportunity Fund enables the next generation of edge AI software for real-time predictive analytics and maintenance for manufacturing customers in the semiconductor, electronics, and automotive industries. The board includes Wim Roelandts, a former CEO of FPGA maker Xilinx alongside the CEO and financial investors. This investment is validation of our vision for our next-generation AI platform,” said Anthony Hill, Founder and CEO at Adapdix in Pleasanton, California. “With the SB Opportunity Fund joining the team of investors, we now have the ability to scale up the business and develop the required ecosystem of partners and suppliers.
Launching Panoramic Ventures, Atlanta’s BIP Capital adds a new partner and plans $300 million new VC fund
Atlanta-based BIP Capital has a new name for its venture capital operations (Panoramic Ventures); a new partner (Paul Judge); and is launching a $300 million new fund in its bid to plant a flag as the premier venture fund among the rising startup cities across the country.
Miami may have grabbed headlines recently as a new hub for venture capital and technology startups, but like other cities across the Southeast it has lacked venture funds of a significant size since the early days of the dot-com bubble. Panoramic wants to be the fundraising destination for entrepreneurs outside of traditional tech hubs like Boston, Silicon Valley and New York as these new tech hubs emerge.