Scheduled Shipment #57

$586 million raised across 23 startups. Hitachi Ventures $400m fund 4, Figure AI drops OpenAI, Waabi and Volvo partner to build self-driving trucks

Hitachi Ventures raises $400M Fund 4

Happy Friday.

Everywhere you look there’s a new fund! Hitachi Ventures raised $400 million to invest in Series As across industrial tech and AI. In robotics news, Figure is exiting its partnership with OpenAI in favor of building in-house models. Do foundational model providers have no moat?

$586 million raised across 23 startups. 1 acquisition.

Let’s dig in.

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Top News

Hitachi Ventures raises $400 million Fund 4 to invest in Series As across energy, manufacturing, biotech, and AI.

Figure AI drops OpenAI in favor of in-house models.

Waabi and Volvo partner to build self-driving trucks at scale.

Timeline

Massive Fundings

XOi Technologies, a 12-year-old Nashville, TN startup that provides a software suite for maintenance technicians, raised a $230.0 million financing led by KKR. More here.

Liberation Labs, a 3-year-old New York, NY startup that provides precision fermentation biomanufacturing, raised a $50.5 million financing from NEOM Investment Fund, Galloway Limited, Meach Cove Capital, Agronomics, New Agrarian Capital, and Siddhi Capital. More here.

Shadowfax, a 10-year-old Bengaluru, India startup that provides end-to-end logistics, raised a $50.5 million Series F led by Mirae Asset and NGP Capital. More here.

Mangrove Lithium, a 13-year-old Delta, Canada startup that refines lithium, raised a $35.0 million financing from Mitsubishi, Asahi Kasei Corporation, InBC Investment Corp, Orion Industrial Ventures, Export Development Canada, Breakthrough Energy Ventures, BMW i Ventures, and BDC Capital. More here.

Archive, a 4-year-old Los Altos, CA startup that provides a circular economy platform for brands, raised a $30.0 million Series B led by Energize Capital with participation from Lightspeed Venture Partners, G9 Ventures, and Bain Capital Ventures. More here.

Stockly, an 8-year-old Vitry-sur-Seine, France startup that provides an inventory sharing and exchange platform for ecommerce brands, raised a $26.9 million financing led by 83North with participation from Anyma Capital, Square Capital, Eurazeo, and Daphni. More here.

Mid-Size Fundings

Meteomatics, a 13-year-old Saint Gallen, Switzerland startup that provides a weather intelligence platform, raised a $22.0 million Series C led by Armira Growth with participation from Klima and Fortyone. More here.

Earth AI, an 8-year-old San Mateo, CA startup that provides predictive exploration for clean energy metals, raised a $20.0 million Series B led by Tamarack Global and Cantos Ventures with participation from Overmatch, Alpaca, Sparkwave Capital, Y Combinator, and Scrum Ventures. More here.

Bonsai Robotics, a 3-year-old San Jose, CA startup that develops AI-powered agricultural machinery, raised a $15.0 million Series A led by Bison Ventures with participation from Acre Venture Partners, Congruent Ventures, Fall Line Capital, E14 Fund, SNR, and Serra Ventures. More here.

Presto, a 3-year-old Oakland, CA startup that provides an EV fleet charging optimization platform, raised a $15.0 million Seed led by Union Square Ventures with participation from Congruent Ventures, Jetstream, and Powerhouse Ventures. More here.

GenLogs, a 2-year-old Arlington, VA startup that provides a freight intelligence platform via a nationwide sensor network, raised a $14.6 million Series A led by Venrock and HOF Capital with participation from Steel Atlas, AutoTech Ventures, Venture 53, TitletownTech, Plug and Play, and Heartland Ventures. More here.

Omnitron Sensors, a 6-year-old Los Angeles, CA startup that produces sensors for autonomous vehicles, raised a $13.5 million Series A led by Corriente Advisors with participation from L'ATTITUDE Ventures. More here.

Comstruct, a 3-year-old Munich, Germany startup that provides a procurement platform for construction materials, raised a $13.0 million financing led by GV and 20VC with participation from Booom and Puzzle Ventures. More here.

Pendulum, an 11-year-old Seattle, WA startup that provides AI-powered supply chain planning, raised an $11.0 million financing from Lowercarbon Capital, Cross Border Impact Ventures, and Decisive Point. More here.

129Knots, a 3-year-old Singapore startup that provides a supply chain receivable tokenization platform, raised a $10.0 million financing led by Sing Fuels with participation from Enterprise Singapore, IBM Consulting, and McKinsey & Company. More here.

Astral Systems, a 4-year-old Bristol, UK startup that develops compact nuclear reactors, raised a $5.6 million financing led by Speedinvest and Playfair with participation from Oliver Buck and Pete Hutton. More here.

PartsCloud, a 4-year-old Pliezhausen, Germany startup that provides spare parts management for engineering firms, raised a $5.2 million Seed from Newion, MBG, and SquareOne. More here.

Rynse, a 4-year-old Magnolia, NJ startup that provides a fleet management platform for governments and enterprises, raised a $5.0 million Seed led by Autotech Ventures with participation from Founder Collective, Correlation Ventures, and Connexa Capital. More here.

Smaller Fundings

OneThird, a 7-year-old Enschede, Netherlands startup that provides a supply chain intelligence platform for fresh produce, raised a $3.6 million Series A led by Invest International with participation from Pymwymic, SHIFT Invest, and Oost NL. More here.

EPYR, a 1-year-old Paris, France startup that provides a thermal energy storage platform, raised a $3.1 million Pre-Seed led by AENU and Daphni with participation from OVNI Capital and WEPA Ventures. More here.

RAYHAWK, a 4-year-old Saskatoon, Canada startup that provides autonomous railcar opening & closing technology, raised a $3.0 million Seed led by Emmertech. More here.

Sotira, a 4-year-old San Francisco, CA startup that provides a surplus inventory monetization platform, raised a $2.0 million Pre-Seed from Unusual Ventures, Night Capital, K5 Global, and Ritual Capital. More here.

DriveX, a 6-year-old Tallinn, Estonia startup that provides a windshield damage detection platform, raised a $1.2 million financing led by Carglass. More here.

Exits

Specifx, a 3-year-old San Francisco, CA startup that provides OEM data for the HVAC industry, was acquired for an undisclosed amount by XOi. More here.

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