Mistral AI valued at €2B after financing round
Mistral AI on Monday closed a US$415 million (€385 million) financing round which sources say values the Paris, France-based OpenAI rival at €2 billion. The...
Source: proactiveinvestors.com
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Weekly Funding Wrap: Large cheques, late-stage deals make a comeback; startups raise about $105 million
The week saw Sarvam.ai, Sleep Company and CoreEL raise cheques in over $15 million range in contrast to the past weeks when there were few such deals
Source: moneycontrol.com
AI startup Sarvam.AI bags $41 million in funding led by Lightspeed, Peak XV, others
The AI firm plans to use the funding to focus on India-specific offerings which includes training AI models to support the diverse set of Indian languages and voice-first interfaces
Source: moneycontrol.com
Expense management startup Navan cuts staff to find profitability ahead of delayed IPO
Valued at $9 billion in late 2022, Navan is said to be targeting an initial public offering sometime in 2024.
Source: techcrunch.com
Expense management startup Navan cuts staff to find profitability ahead of delayed IPO
Navan, an expense management startup once known as TripActions, has laid off 5% of its staff, or 145 people, a spokesperson confirmed to TechCrunch today. "Navan has recorded strong growth over the past three years despite the challenges affecting our industry," the spokesperson wrote via email, describing the cuts as a "restructuring." In October of 2022, Navan secured $150 million debt and raised $154 million in equity at a post-money valuation of $9.2 billion, up from its prior valuation of $7.5 billion.
Source: yahoo.com