Morning VC Brief丨2024.08.19

9Morning VC Brief is an expert daily curation of tech and venture news. Feel free to forward; the sign-up is here

00. TL;DR

1/ AI Video Analytics Startup Actuate raises $11.5M Series B

2/ AI-powered FactoryOps Guidewheel raises $31M Series B

3/ AI Patent Agent Startup Garden raises $6.8M Seed Round

4/ Stablecoin 2.0 Infrastructure WSPN raises $30M Seed Round

5/ More Than 90% of 2021 Venture Funds Have Had Zero Distributions

6/ Polymarket on Track for $475 Million in Volume

01. Venture News

1/ AI Video Analytics Startup Actuate raises $11.5M Series B

Actuate specializes in computer vision software for remote video guarding. The company delivers superior security solutions that enhance monitoring, threat detection, and operational efficiency across various industries. This round was led by Gray Line Partners with participation from Bling Capital, Upside Partnership and Tribeca Venture Partners. Link

2/ AI-powered FactoryOps Guidewheel raises $31M Series B

Guidewheel develops AI-powered predictive maintenance solution which saved customers hundreds of thousands of dollars by preventing downtime and machine failure. This round was led by BlackRock, Temasek with participation from Greycroft and Breakthrough Energy Ventures. Link

3/ Stablecoin 2.0 Infrastructure WSPN raises $30M Seed Round

WSPN is pioneering the concept of Stablecoin 2.0, setting the new standard for the next generation of stablecoin. WSPN has garnered support from over 30 exchanges, more than 10 major wallets, and dozens of prominent payment institutions and market makers. This round was led by Foresight Venture, Folius Ventures. Link

4/ AI Patent Agent Startup Garden raises $6.8M Seed Round

Garden aims to accelerate global R&D by helping customers understand the patent landscape better. The primary focus is on software and life sciences. This round was led by Spark Capital with participation from Craft Ventures, Uncommon Capital, Mischief, and more. Link

02. Tech News & Updates

1/ More Than 90% of 2021 Venture Funds Have Had Zero Distributions

According to Carta, just 9% of VC funds raised in 2021 have distributed capital. In contrast, 25% of the 2017 vintage had distributed at least some capital at the same checkpoint. Link

2/ Polymarket on Track for $475 Million in Volume

Polymarket is on track to reach $475 million in volume and 75,000 new accounts in August alone. And, it is universally cited by pollsters, pundits, normies, and campaigns.

Polymarket successfully raised $70 million across two funding rounds as betting on the 2024 United States presidential elections gains momentum. The latest Series B Polymarket funding round was led by Founders Fund.