Why this VC firm is putting $1B toward AI

Plus, last week’s top 10 funding deals December 11, 2023 Hi, {NAME}. Was [ChatGPT]( launch last year akin to the “browser moment” almost 30 years ago, when Netscape Navigator kicked off a whole new tech era? For [Jai Das]( president and partner at [Sapphire Ventures]( the age of generative AI is opening up a whole “new era of computing and investing.” [We speak with Das]( about how Sapphire is investing in AI. Plus, [a look at last week’s 10 largest U.S. funding deals](. 🤖 [Sapphire Ventures on its billion-dollar commitment to AI]( Since spinning off from SAP in 2011, [Sapphire Ventures]( has raised six funds, backing startups in enterprise software, AI and even sports. In the latest in our series of interviews with active AI investors, we speak with firm partner and President [Jai Das]( about the firm’s investment focus. Related Crunchbase Pro list: [Sapphire Ventures’ AI Portfolio Companies]( 🏅 [Top 10: Energy and AI lead surprising busy week in venture]( While energy led the week with [X-energy]( closing of its Series C, artificial intelligence and biotech weren’t far behind with funding to [Elon Musk]( [newest venture]( and a Series B for a [biotech company]( that uses AI. See also: [The Crunchbase Megadeals Board]( ⚠️ [How to limit your exposure when the AI bubble bursts]( Between the incredible enthusiasm around artificial intelligence — evident in some eyebrow-raising funding deals — and piles of dry powder amassed by VC firms, the conditions are ripe for an AI bubble, argues guest author [Dan Gray](. He offers some thoughts on how to avoid getting caught up in a hype cycle. 🦄 [Fintech trots the most new unicorns onto the board]( Only nine companies joined our [Unicorn Board]( in November, together adding $11.7 billion in value to the board, amid a [slower funding environment for startups](. A third of those were from one sector — no, not AI, but fintech. See also: [The Crunchbase Unicorn Board]( ✂️ [Job cuts span tech companies and VC firms]( While it wasn’t the worst week for tech layoffs this year — with a baker’s dozen reporting staff reductions — the 2,165-plus U.S. workers who got caught up in the workforce cuts may disagree. Last week, they include not just workers at tech companies and startups, but also those at one of the VC firms that backs them. See also: [The Crunchbase Tech Layoffs Tracker]( [Crunchbase ROI Calculator]( [See the number of new accounts Crunchbase can add to your funnel with our advanced prospecting ROI calculator powered by Crunchbase data.]( [Calculate]( Recent Investments [Hensoldt]( [240M EUR]( / [Post-IPO Equity]( Hensoldt is a globally leading supplier of premium sensors for security and surveillance missions. Categories: Electronics • Security • Sensor Founders: [Moritz Carl Hensoldt]( [Scalable Capital]( [60M EUR]( / [Series E]( Scalable Capital is on its way to becoming Europe’s leading digital investment platform. Categories: Asset Management • Financial Services • FinTech Founders: [Erik Podzuweit]( [Florian Prucker]( [Patrick Poschl]( [Stefan Mittnik]( Investors: [Balderton Capital]( (Lead), [HV Capital]( [KOHO Financial]( [86M CAD]( / [Series D]( KOHO is an online financial services provider that offers an application-based banking platform to simplify financial products. Categories: Finance • Financial Services • FinTech • Mobile Payments • Payments Founders: [Daniel Eberhard]( [Jonathan Bixby]( [Joshua Bixby]( [Mike Benna]( Investors: [BDC Venture Capital]( [Drive Capital]( [Eldridge]( [+ 4 more]( More Fundings Company Amount / Round Lead Investor [Sarvam AI]( $41M / [Series A]( [Lightspeed Venture Partners]( [Tomorro (ex Leeway)]( 11M EUR / [Series A]( [Resonance]( [Airblack]( $4.0M / [Series B]( [Michael & Susan Dell Foundation]( [All Recent Funding Activity]( Recent Acquisitions [Ghost Controls]( Pending acquisition by [ASSA ABLOY Group]( for Unknown More Acquisitions Company Acquired By Amount [Green Brain]( [CropX]( Unknown [All Recent Acquisition Activity]( Upcoming Tech Events [Digital Healthcare Innovation Summit WEST (DHIS)]( February 6 - 7, 2024 in La Jolla Digital Healthcare Innovation Summit WEST (DHIS) focuses on addressing current issues in the field. Accelerator Deadlines Date Accelerator Location Dec 28, 2023 [International Accelerator]( Austin Dec 31, 2023 [Forward Factory]( Casalecchio Di Reno [More Upcoming Deadlines]( Don’t see your event? Reach out to us at events@crunchbase.com. #{Rails.configuration.daily.cb_url} Discover innovative companies and the people behind them. [Follow Us on Crunchbase]( [View Jobs on LinkedIn]( [Follow Us on Twitter]( [Like Us on Facebook]( 564 Market St, San Francisco, CA 94104 © 2023 Crunchbase Inc. All rights reserved. [Privacy Policy]( | [Terms of Service]( [Unsubscribe]( from Crunchbase Daily.