Serve Robotics, the Uber and Nvidia-backed sidewalk robot delivery company, debuted publicly on the New York stock exchange Thursday, making it the latest startup to choose going public via a reverse merger as an alternative path to capital needed to fund growth.
While Serve’s debut in the public markets comes from a reverse merger and not a SPAC, the two alternate paths to IPO are not too dissimilar.
However, Serve Robotics said it’s expecting enormous growth fueled by money generated by going public.
“I never thought that I would start a robotics company and then be in the ads business,” said a tired, but excited, Kashani in a phone interview minutes before the bell rang.
Upon the closing of the merger, Uber held a 16.6% stake and Nvidia an 14.3% stake in Serve, according to regulatory filings.
There’s a big difference between a “solution” and a “product” slide.
The biggest problem with the Xpanceo deck isn’t what is in there, but rather what isn’t.
The market sizing fallacyWhen assessing the potential market size for Xpanceo’s contact lenses, it’s crucial to differentiate the nature of the product from traditional contact lenses.
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Blueshift, a San Francisco-based startup that taps AI to help brands automate and personalize engagement across different marketing channels, has secured $40 million in debt financing from Runway Growth Capital.
Blueshift competes with a number of vendors in the marketing automation space, including several who aim to build solutions from the ground up on GenAI.
There’s also Pixie, an AI-powered full-stack marketing platform; Aampe, a marketing automation platform for mobile apps; and Connectly, which employs automation to nudge shoppers to complete purchases.
As of June 2023, HubSpot had a roughly 37% share of the marketing automation market, followed by Adobe (~7%), Oracle (~7%) and ActiveCampaign (~7%).
But it’s a very lucrative venture, marketing automation.
Statista, meanwhile, reports that a whopping over two-thirds — 72% — of businesses have been affected by ransomware attacks as of 2023.
Certainly, one vendor, Halcyon, is experiencing a boon, having raised $44 million in a Series A round last April.
The startup’s now closed a smaller Series B tranche — $40 million — that brings its total raised to $84 million.
“The Halcyon platform is built to keep businesses operational even in the event of a widespread ransomware incident,” Miller said.
“Halcyon is the only company solely focused on battling ransomware with layers for both prevention and resilience,” Miller said.
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