Morning VC Brief丨2024.08.30

Morning 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 Coding Startup Magic raises $320M Venture Round

2/ GitHub Copilot competitor Codeium raises $150M Series C at $1.25B

3/ Customizable CRM Startup Attio raises $33M Series B

4/ Global Payment Startup Bridge raises $58M Venture Round

5/ AI RFP Automation Startup Inventive AI raises $4M Seed Round

6/ Mobile Game Monetization Solution Aghanim raises Seed Round

7/ Google integrated Gemini to Gmail

01. Venture News

1/ AI Coding Startup Magic raises $320M Venture Round

Magic is building foundation models to generate code and automate a range of software development tasks. Their LTM (Long-Term Memory) models are trained to reason on up to 100M tokens of context given to them during inference. And a larger LTM-2 model is under training on new supercomputer. This round was invested by Eric Schmidt, CapitalG, Atlassian, Elad Gil, Jane Street, Nat Friedman and Daniel Gross, Sequoia Capital, and more. Link

2/ GitHub Copilot competitor Codeium raises $150M Series C at $1.25B

Codeium is building AI code generation tool. Grown a free individual user base from nothing to over 700,000 active users in under 2 years, and a paid enterprise product from nothing to eight figures in ARR in less than a year. This round was led by General Catalyst with participation from Kleiner Perkins and Greenoaks. Link

3/ Customizable CRM Startup Attio raises $33M Series B

Attio builds data-driven and customizable CRM. This round was led by Redpoint Ventures, Balderton Capital, and Point Nine with participation from 01 Advisors. Link

4/ Global Payment Startup Bridge raises $58M Venture Round

Bridge aspires to build a future global payment network around stablecoins in order to challenge everything from Swift to credit cards. Their customers including SpaceX and Coinbase. This round was led by Sequoia Capital and Ribbit Capital with participation from Index Ventures, Haun Ventures, and more. Link

5/ AI RFP Automation Startup Inventive AI raises $4M Seed Round

Inventive AI is an AI-driven tool for streamlining and optimizing RFP (Request for Proposal) and sales questionnaire workflows. Their customers including SpaceX and Coinbase. This round was led by Sierra Ventures with participation from Y Combinator, SOMA Capital, and General Catalyst. Link

6/ Mobile Game Monetization Solution Aghanim raises Seed Round

Aghanim is designed to revolutionize mobile game monetization, unlocking developers’ net revenue through secure, compliant, direct-to-consumer web-based solutions. This round was invested by A16Z Games Speedrun, Bessemer Venture Partners, Point72 Ventures and QED Investors. Link

02. Tech News & Updates

1/ Google integrated Gemini to Gmail

Google rolled out the new feature, Gmail Q&A, on Thursday to users who pay for Gemini. With Gmail Q&A, users can access Google Gemini in the Gmail app as a personal assistant that can read your entire email inbox. Link