Generative AI smartphones are coming, Flexport plans a layoff, and a big wheel drops plans for a big fund

Weekend! 

More rumors about Elon Musk's xAI, which launched the foul-mouthed chatbot Grok last month. Reportedly, the startup is in talks to raise up to $6 billion at a $20 billion valuation. Depending on who you talk to, Musk is courting either Middle East sovereign wealth funds or family offices in Japan and South Korea. The FT has more here. 

To no one's surprise, security researchers have discovered that Facebook, LinkedIn, TikTok, and X are secretly mining information from users through iPhone app notifications. 

The U.S. proposed today a "know your customer" regulation for cloud companies in order to prevent "non-state actors or China or folks who we don’t want accessing our cloud to train their models," U.S. Commerce Secretary Gina Raimondo said.

2023 was the year of Gen AI. What beholds for VC/PEs in 2024? Unveiling "50 Hypergrowth Startups" to watch in 2024!” Curated from a pool of over 50,000+ bootstrapped, early & growth-stage startups using an arsenal of over 100+ alt data KPIs, this report covers exciting startups from across FinTech, AI, HealthTech, E-commerce, Cybersecurity, DeepTech, & many others. What's more? You will get in-depth graphs and company performance KPIs. Quickly source these hot deals! Grab your copy now>

Krutrim, an Indian startup that is developing voice-enabled generative AI applications, raised a $50 million at a valuation of approximately $1 billion. Matrix Partners India was the deal lead. TechCrunch has more here.

Ceezer, a two-year-old Berlin startup whose marketplace connects entities interested in purchasing carbon credits with developers of climate projects, raised an $11.2 million Series A round led by HV Capital, with additional participation from previous investors Norrsken VC, Picus Capital, and Carbon Removal Partners. TechCrunch has more here.

Chef Robotics, a San Francisco startup that specializes in creating robotics hardware and software for automating tasks in commercial kitchens, raised a $14.75 million equity and debt round from MaC Venture Capital, MFV Partners, Interwoven Ventures, and Alumni Ventures as well as previous investors Construct Capital, Kleiner Perkins, Promus Ventures, and Red and Blue Ventures. The company has raised a total of $18.2 million in equity and $4.25 million in debt. TechCrunch has more here.

Proof Technology, a Denver startup looking to advance its online litigation services, has raised secured $30.4 million in Series B funding. Long Ridge Equity Partners led the round, joined by earlier backers Blue Heron Capital and The LegalTech Fund. PYMNTS has more here.

Safty, a Danish startup that provides consumer insights for banks, insurance companies, and pension funds, raised a $12.3 million round. Upfin led the investment. Retail Banker International has more here.

Axyon AI, a seven-year-old Italian startup that uses AI to provide predictive analytics to help asset managers improve investment strategies and performance, raised a $4.2 million round led by Montage Ventures, with Techshop SGR also contributing. More here.

Cargado, a Chicago startup that will only say that it is focused on optimizing U.S.-Mexico cross-border logistics, raised a $3 million pre-seed round led by Ironspring Ventures, with Zenda Capital, Wischoff Ventures, and Proeza Ventures also stepping up. Contxto has more here.

Chunk Foods, a three-year-old Tel Aviv startup that is making making plant-based whole cuts of alternative protein, raised a $7.5 million seed extension. Cheyenne Ventures was the deal lead. The company has raised a total of $24 million. TechCrunch has more here.

Digs, a one-year-old startup based in Vancouver, WA, that offers tools for planning, managing, and finalizing building projects, aiming to improve communication between builders and homeowners, raised a $7 million seed round co-led by Oregon Venture Fund and Legacy Capital Ventures, with previous investors Fuse, Flying Fish, Betaworks, and PSF also taking part. TechCrunch has more here.

Krepling, a three-year-old startup based in Chattanooga, TN, that allows SMBs to build and manage e-commerce stores without needing to code, raised a $3.3 million seed round. Investors included LAUNCH, Brickyard, Front Porch Ventures, 11 Tribes Ventures, Colabora Ventures, and Broadshade Investments. More here.

ViralMoment, a two-year-old Menlo Park startup whose service offers tools to analyze and understand the components of viral videos, helping brands and marketers such as WPP, Omnicom, and Warner Brothers to create effective social media strategies, raised a $2.5 million seed round led by Supernode Global, with Crush Ventures, Duo Partners, Carnegie Mellon University, and Techstars also anteing up. More here.

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Kost Capital, a new Danish VC focused on alt food, is in the market to raise a first fund of €25 million. The firm, which has already raised money from was the Danish sovereign fund EIFO, plans to invest in pre-seed and seed startups across Europe. TechCrunch has more here. 

Lightspeed Venture Partners is trying to sell stakes in ten of its portfolio companies via a PE-style $1 billion continuation fund. 

Per The Information, Snyk, which sells security tools for developers and was valued at $7.4 billion last year, has been drafting its IPO investor prospectus and could file it confidentially with regulators in the next few months. Meanwhile, Cato Networks, an Israeli startup that sells network security software, plans to hire bankers by March for an IPO later this year, says the outlet's sources.

Investor Chamath Palihapitiya is no longer raising a $1 billion fund, according to Axios, which says that Palihapitiya responded to its questions about the story with a poop emoji.

Meta CEO Mark Zuckerberg has taken up the cause of Sam Lessin, a former Facebook executive turned VC who is campaigning for a spot on Harvard's governing board along with a slate of candidates backed by hedge fund antihero Bill Ackman.

Flexport is reportedly planning to lay off 20% of its staff despite raising $260 million from Shopify earlier this month.

According to the website Layoffs.fyi, around 23,670 workers have been laid off from 85 tech companies in January, the most since March 2023 when roughly 38,000 people were laid off.

Generative AI smartphones are coming, and Apple could be particularly well-positioned for this shift, analysts say.

Federal judges may soon decide whether crypto can be regulated like stocks and bonds. 

Apple's aggressive moves to protect its walled garden are  increasingly drawing the attention of regulators and legislators alike. 

The National Security Agency tried hard to conceal that it was buying internet log data on U.S. consumers without obtaining a warrant.

How to plan a $10 million vacation.

How long it takes to lose muscle after not working out.

Anagrammer.

Vintage space-age playing cards.

Louis Vuitton says that its new portable speaker draws "inspiration from early trunk detailing."