TLDR:
- February showcased significant VC deals in the tech industry, primarily focused on AI integration.
- Key deals included Hadrian’s $117M Series B, Lambda Labs’ $320M Series C, Magic.dev’s $117M funding, and Abridge’s $150M raise.
Summary:
In February, the tech industry saw a flurry of notable VC deals, with a strong focus on the integration of artificial intelligence into various products. Key deals that stood out included Hadrian’s $117M Series B funding to create automated precision component factories, Lambda Labs’ $320M Series C at a $1.5B valuation to enhance GPU cloud computing for AI training, Magic.dev’s $117M raise to build frontier-scale code models, and Abridge’s $150M funding to streamline documentation processes in the healthcare sector.
Apart from these deals, other significant announcements included NinjaOne’s $231.5M Series C, Ezra’s $21M round, Accompany Health’s $56M Series A, and Codeium’s $65M Series B. Additionally, highlighted acquisitions and PE capital movements included Capital One’s merger with Discover, OpenGov’s partnership with Cox Enterprises, and ScienceIO’s acquisition of Veradigm.
On the venture funds front, Jack Altman’s Alt Capital raised $150M for its third fund, Wonder Ventures of LA secured $57M for its 4th pre-seed fund, and Runway, known for its GenAI startup, is now raising its own VC fund focused on early-stage AI startups. However, amidst the flurry of funding activities, there were also indications of some venture firms winding down, such as Foundry Group.
