All posts tagged: 1.3B

VC Eclipse has a new .3B fund to back — and build — ‘physical AI’ startups

VC Eclipse has a new $1.3B fund to back — and build — ‘physical AI’ startups

It takes just a skim of Eclipse’s recent investments to see where this venture firm’s interests lie — and where it is headed. The Palo Alto-based VC, which saw its median deal size explode over the past several years, has poured an increasing amount of money into the “physical world.” Its deals include electric boat developer Arc, buzzy battery recycling and material firm Redwood Materials, self-driving construction vehicle startup Bedrock Robotics, autonomous vehicle tech company Wayve, and industrial robotics lab Mind Robotics. With $1.3 billion in fresh capital — which is split between a $591 million early-stage incubation fund and one more oriented toward growth startups — Eclipse is zeroing in on what partner Jiten Behl describes as the next big technological era. “Over the last two decades, we’ve seen multiple waves of innovation,” Behl said, listing the internet, mobile cloud, and social media eras. “This is the first time where stuff is going to move from our screens into the physical world; we’re going to see advanced levels of intelligence, along with actual actions, …

Peak XV raises .3B, doubles down on AI as global VC rivalry in India heats up

Peak XV raises $1.3B, doubles down on AI as global VC rivalry in India heats up

Peak XV announced on Friday that it has raised $1.3 billion across new India and Asia-focused funds. The firm, which now manages more than $10 billion in assets, is sharpening its focus on artificial intelligence and cross-border bets amid intensifying competition for deals in the region. The capital will be deployed across its India seed and venture funds as well as its APAC vehicle. A majority is earmarked for India, with the firm expecting to invest the pool over the next two to three years, managing director Shailendra Singh said in an interview on Friday. Peak XV split from Sequoia Capital in 2023, in an effort to separate the India-focused portions of Sequoia’s portfolio. The firm now counts more than 450 portfolio companies across fintech, software, and consumer internet, spanning seed to growth stages. The firm’s new fundraise comes as New Delhi hosts the AI Impact Summit, drawing major technology players including OpenAI, Anthropic, and Google. At the event, General Catalyst outlined plans to invest $5 billion in the country over the next five years, …

AI video startup, Higgsfield, founded by ex-Snap exec, lands .3B valuation

AI video startup, Higgsfield, founded by ex-Snap exec, lands $1.3B valuation

Through an extension to its previous $50 million Series A round that closed in September, AI video generation startup Higgsfield has sold another $80 million worth of stock, bringing its total Series A to $130 million. The company says it has now hit a $1.3 billion valuation. Higgsfield offers a tool that allows consumers, creators, and social media teams to create and edit AI-generated videos. The company was founded by Alex Mashrabov, former head of Generative AI at Snap, who landed at the company after it bought his previous startup, AI Factory, in 2020 for $166 million. Mashrabov was a co-founder of AI Factory. Five months after Higgsfield launched its tool, it touted 11 million users and said it was a platform of choice for content creators. Nine months in, it has now reached over 15 million users and is on a $200 million annual revenue run rate, with that figure doubling from a $100 million trajectory in about two months, it says. The startup believes this puts it in rarified growth terrain, outpacing companies …