Latest news from Nirvana AI July 29th

Image, Unsplash Fré Sonneveld, @fresonneveld

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Startups Engaging with Governments: Key Strategies

Claudine Adeyemi-Adams from Earlybird AI highlights essential advice for startups working with European governments. She emphasizes the importance of understanding the political landscape. "Startups must do their homework to understand governmental priorities," she advises.

Adeyemi-Adams underscores the importance of building relationships early and maintaining ongoing communications with government stakeholders. Clear value propositions that align with governmental goals are crucial. Startups should prepare for significant bureaucracy and approach it with patience.

Participating in pre-existing networks and alliances can provide essential insights. Ethical considerations are also vital. Startups must ensure that their solutions meet immediate needs and contribute to long-term societal goals. For more details, read the full article titled “How startups can work with government” on Sifted.

Private Equity’s Renewed Interest in European Startups

In 2024, private equity (PE) firms increased investments in European startups, focusing on venture-backed tech companies. This trend contrasts with past years when such investments had slowed. While volumes have risen, deal counts remain below the peak levels of 2021.

A Sifted report states, "Private equity’s interest in European startups has surged, with PE firms upping their spend on venture-backed tech companies." Favorable market conditions and mature startups fuel this growth.

Technological advancements and an evolving landscape have influenced this resurgence. Despite increased investments, a cautious approach remains, focusing on larger, lucrative opportunities. Long-term, the number of deals may align with or exceed previous highs if current momentum holds. Original article: “Is private equity’s interest in European startups on the up again?”

Rupert Murdoch Battles Children for Control

Rupert Murdoch, 93, is in a battle with his children over his media empire's future. Lachlan, his eldest, is set to inherit control of News Corp and Fox Corporation, leaving his other children without power but still profiting.

Murdoch's family trust alteration has led to legal challenges from his other children. Lachlan's leadership promises continuity of conservative values, while his siblings lean more moderate. This family feud reflects deeper ideological divides, particularly on climate change and Trump-era policies.

The outcome of this legal squabble could reshape the media landscape significantly. As proceedings continue, the future of these powerful outlets hangs in the balance. Original article: “Rupert Murdoch goes to war with his children over his media empire”

Top 10 Funding Rounds This Week

Astranis, a U.S. space tech firm, led this week's funding rounds, raising $250 million. Element Biosciences followed closely, securing substantial investment for biotech innovations. Human Interest, a fintech company, also raised significant funds, reflecting investor confidence across diverse sectors. Cardurion Pharmaceuticals received major funds to advance cardiovascular treatments.

All top ten companies raised over $100 million, showing strong U.S. startup performance. The funding spanned space tech, biotech, and fintech, indicating varied venture capital interest. Read more in the Crunchbase article “The Week’s 10 Biggest Funding Rounds: Space Tech Startup Astranis Tops List”

Big Tech and Biotech Lead Funding Surge

Crunchbase analysis highlights significant growth in startup funding, particularly in space tech and biotech. Astranis, leading with a $250 million round, stands out. Investors are increasingly drawn to emerging industries, signaling promising futures for these sectors.

The report emphasizes strong investor confidence in sustainable, future-forward investments. For more details, see the article "The Week’s 10 Biggest Funding Rounds: Space Tech Startup Astranis Tops List" at Crunchbase.

Mycorena's Failed Rescue Attempt

Gothenburg-based Mycorena, aimed to produce mushroom-based food ingredients, recently filed for bankruptcy despite raising nearly 300 million kronor. Tore Sveälv, the former chairman, revealed that a single committed investor could have changed their fate. Both a venture capital firm and an industrial player were close to investing. The industrial player withdrew, causing the venture capital firm to also back out.

Mycorena faced challenges due to low turnover and demand for development rather than purchasing products. This led to the company's bankruptcy, a significant setback for Sweden's food industry. Original article: “Mycorena var nära att räddas – de drog sig ur i sista stund”

The Viability of Freelance Journalism

Freelance journalists face declining payment rates and fierce competition, as explored in a Reuters Institute article. Colombian journalist Nubia Rojas notes that outlets prioritize brand prestige over fair pay. Rates have stagnated despite rising costs.

American journalist Elyse Hauser highlights the competition for commissions due to industry budget cuts. Mental health concerns are rampant. Anne-Claire Genthialon from France shares her struggle with the "passion trap," leading to underpayment and instability. Freelancers often treat their roles as community service due to inadequate compensation.

For many, sustaining freelance journalism efforts is challenging. Original article: “Is freelance journalism still viable? Not for most of the reporters we spoke with”.

Space Investment Shows Growth Despite Challenges

Astranis has raised $200 million for its Omega satellite program, co-led by Andreessen Horowitz and Bam Elevate. CEO John Gedmark asserts this investment underscores the potential of their technology.

The Omega program aims to bring high-speed internet to underserved regions, addressing the digital divide. This investment highlights sustained interest in space technology despite downturns in other tech sectors. More details in the original article “Texas Startup Funding Declines, Led By Dip In Austin-Area Investment”.

Novatron Secures Additional Funding for Fusion Energy

Novatron Fusion Group has raised nearly SEK 44 million in the second part of a seed round, totaling SEK 62 million since September 2023. This funding will develop their patented fusion energy technology.

Chief of Partnerships Philip Von Segebaden notes that the funds will help recruit top talent and establish the Nordic region as a leader in fusion technology. The company plans a larger machine by 2027 and seeks an additional SEK 400 million for this project. Fusion energy offers the benefits of fission without its drawbacks, positioning Novatron for political backing as a clean energy solution.

Original article: “Vill ge kärnkraft en match – nu tar Novatron in 44 miljoner”.