Mermaid Chart secures a staggering $7.5 million investment with its Markdown-inspired diagramming tool.

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Mermaid, the open source diagramming and charting tool, has long been popular with developers for its ability to create diagrams using a Markdown-like language. They were watching ‘The Little Mermaid.’ That’s why I named that eight years ago.”Early on, Mermaid was mostly about flowcharts, but over time Sveidqvist added other diagram types — and the community quickly made it its own, too. Firestone told me that the cloud version of the open source project had 4 million users last year. That’s a market Mermaid Chart is looking to address by building easier-to-use tools for this group of users. “Mermaid Chart is expanding the community by bringing the benefits of Mermaid to all types of business users, leveraging AI as a catalyst.

“Simplifying Blockchain Development: Initia Secures $7.5M in Seed Funding”

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It’s hard to keep track of crypto’s technical development, but one thing hasn’t changed much: blockchain applications are notoriously hard to build. This stems in part from their decentralized nature, resulting in a lack of uniform standards across different infrastructure pieces. Initia, founded by a group of developers in their late 20s, is trying to bring more interoperability to multi-chain networks and simplify the process of creating app-specific blockchains, or app chains. In layman’s speak, Initia is abstracting away app chains’ technical complexity, aiming to make them more friendly to both end users and app developers. They paused the project after the FTX implosion and eventually changed tack to work on blockchain infrastructure.

“Clumio Secures $75 Million in Funding to Streamline Cloud Data Backup and Restoration”

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Clumio, a data backup and recovery provider for companies using the public cloud, has raised $75 million in a Series D round of funding. ‘live”) data and backup data in separate secure domains, something that many backup solutions (including first-party from the cloud providers themselves) don’t do. Indeed, Clumio stores its backup data in what Kumar calls a “hyper-optimized data plane” on AWS. “We leverage our serverless data processing engine in AWS to perform all core backup operations using. Prior to now, the company had raised around $186 million, the lion’s share arriving via a $135 million Series C round more than four years ago.

A16z Funds Quora with $75M for Advancement of Poe, their AI Messaging Platform

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The questions and answers website nabbed $75 million from Andreessen Horowitz (a16z), which will be used to power the growth of Poe, Quora’s AI chat platform. Even developers who integrate bots with the Poe AI are eligible to earn money. “In the last two years, the market has changed substantially, driven by rising interest rates and higher cost of capital,” D’Angelo wrote. “Excluding Poe, Quora is cash flow positive, so all of this new funding will be used on Poe,” D’Angelo said. “Currently, Poe is one of the top 5 largest generative AI-related properties, and creators have built 1M+ bots on Poe the platform.”