Startups going silent into that good night
Aug 21, 2024
Kaley Ubellacker
Market Stirrings 🚩
Here's what the week looked like in pre-seed:
$15.7M
Total Amount Raised
3
Total Funding Rounds
$1.6M
Average Dollars per Round
$5.2M-$15.7M
Estimated Valuation Range
Data aggregated from proprietary research and Crunchbase; valuation estimate based on 10-20% ownership stake.
CROSSING PATHS
Q2 2024 showed an increase in value for crossover deals, which involves significant participation from investors who usually buy into publicly traded companies or IPOs. Deal value more than doubled from Q1 to Q2 2024.
Fire Up the Pre-Seeds🔥
Highlights from this week’s pre-seed raises:
Healthtech
Dr. Pecker Inc. - Clinics with high AI-Q.
Dr. Pecker Inc. raised $1 million at a $20 million pre-money valuation. Dr. Pecker Inc. is using human-computer interaction (HCI) technologies, i.e., wearable cameras with seamless data integration, to create smart clinics.
Fintech
Rx Save Card - Prescribed savings.
Rx Save Card raised $1.7 million from Distributed Ventures. Rx Save Card is creating a solution that “fixes” prescription costs by helping employees find the best-priced option and helping employers alleviate out-of-pocket payments.
Artificial Intelligence
nunu.ai - AI wants to play.
nunu.ai raised $2 million from A16Z GAMES Speedrun, Boost VC, and Y Combinator. nunu.ai is building AI-powered agents that test and play games to assist with the game development process.
Outro🚪
Have any questions, feedback, or comments? Just reply here. We iterate and curate the newsletter according to your interests!
Some last matters of business:
If you’re a technologist (engineer or product manager / designer with a technical background) join us on the NVTC LinkedIn group if you haven’t. We’d love to have you!
Sign up here if you’re interested in co-investing with Necessary.
If you’re a startup founder, we’d love to help where we can! Brex provides full-stack finance solutions for startups. Sign up via Necessary and get bonus points.
Thanks for reading, and see you next week!
