TLDR:
- Magic raised $320M in artificial intelligence funding.
- Cribl and Codeium also raised significant funding rounds.
The past week saw some notable funding rounds in the U.S. startup scene. San Francisco-based Magic secured $320 million in a round led by new investors Eric Schmidt and Sequoia, valuing the company at $1.5 billion. Cribl, a data infrastructure company, raised $319 million in a Series E, with a significant up-round from its previous valuation. Codeium, an AI-powered coding assistant, closed a $150 million Series C round led by General Catalyst. Other noteworthy rounds included biotech startups Elektrofi and Navigator Medicines, as well as defense tech startup Parry Labs. The week also saw global funding activity, with China-based Xinwanxing Composites raising a significant round. Overall, the funding rounds reflect the ongoing interest and investment in artificial intelligence, biotech, and other emerging technologies in the startup ecosystem.
