€300M Climate Fund Seeks Follow-On and Supports Hardware: World Fund’s Inaugural Closure

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If you’re looking for comparisons, Norrsken VC is a $130 million impact VC that covers climate, while Demeter Partners last raised a €250 million fund focused on climate. World Fund is also backed by pension funds including the UK Environment Agency Pension Fund, Wiltshire Pension Fund, and Croatia’s Erste Plavi. World Fund has completed its raise during a war in Europe, interest rate rises, and jittery LPs. In 2023 there was over $20 billion raised by European climate tech startups, almost matching the previous year, and bucking declining trends in other sectors, according to Dealroom. The U.K., Sweden and Germany led for total climate tech VC in 2023 but Iceland, Lithuania and Bulgaria showed notable growth.

Indian Companies Reluctantly Comply with Google Play Regulations as they Pursue Government Intervention

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Indian firms whose apps were delisted by Google last week have begrudgingly started to comply with Play Store billing rules to get their apps back on the store. A lot of protesting developers have opted for a consumption-only model for now, while others have opted for the Google Play billing. And what about alternate app stores like the recently launched Indus app store from PhonePe?” Janakiraman told the publication. Google also noted that the company has given developers three years to comply with Play Store rules. Firms seeking regulatory actionThe firms that are protesting against Google’s move are looking for regulatory intervention.

“Masayoshi Son of SoftBank Aims for $100 Billion to Launch Revolutionary AI Chip Enterprise”

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Nvidia currently dominates the AI chip market with its GPU chips. OpenAI chief Sam Altman is reportedly also in talks with investors in the United Arab Emirates to raise an eye-watering $5 trillion to $7 trillion for a new AI chip project. Altman has reportedly met with a number of potential investors, chip industry experts and others across the globe, including SoftBank’s Son, for the new AI chip initiative. Shift focus (from Alibaba) to AIA new chip project would be line with the company’s new focus on AI. Shares of SoftBank closed 2.8% higher on Monday after Son’s AI chip project news broke on Saturday.