Happy Monday!

Here are a few great things to read/watch/participate this week:

🏋️ FTC’s Take On Open-Weights Foundation Models  I am so impressed by the FTC’s take on open source and open-weights models.  While OSS is well-defined, there is still an active dialogue around what “open” and “open-source” should mean in the emerging context of AI models – and it is important to understand the range of definitions when assessing the potential impacts. Read on FTC.gov

📢 What Do You Read, Listen to and Follow? - Do you get your tech news from TikTok? Do you listen to the All-In podcast while you commuting? Do you watch the latest tech gadget review from MKBHD on YouTube while on the Peloton at the gym?

My new survey aims to delve into the diverse sources of knowledge and trends that shape your learning journey. Whether it's blogs, podcasts, newsletters, or thought leaders, I want to understand the unique mix that fuels your curious mind. I will share the results with you, and thank you for your help in contributing to this valuable research! Click here to fill out the survey.

💰 Goldman Sachs to Launch 3 RWA / Tokenization Projects by End of 2024 - Goldman Sachs has dabbled in the field, including working on a bond issuance with the European Investment Bank in 2022 and tokenizing a sovereign green bond for the Hong Kong Monetary Authority in 2023, as well as launching the Goldman Sachs Digital Asset Platform in 2023 to facilitate the tokenization of assets. Read more

🤣 Funny Solana Commercial - Pretty silly and funny ad by Solana. Watch here

🧠 “Apple Watch for Your Brain:” Mind Control Demo by Neuralink Update - Their first product is Telepathy - an Apple Watch for your brain. They created a generalized brain interface to restore autonomy to those with unmet medical needs (blind or paralyzed patients).  Neuralink was expected to have implanted its device in the second patient this June and a total of 10 people by the end of this year. 

💰 Silicon Valley Wins Few Government Contracts - WSJ reports that the top 100 venture capital-backed national security startups have raised a combined $53 billion in funding but only have collectively earned $22 billion in revenue from federal awards, $6 billion of which came from the Defense Department. Bu comparison, traditional defense contractors receive hundreds of billions in awards every year. Read the full report by the Silicon Valley Defense Group.

This week a total of 10 startups raised $295M in funding, 0 M&As:

• $74.5M goes to 4 Enterprise startups

• $55M goes to 1 Gaming startup

• $33.5M goes to 1 Healthcare startup

• $22M goes to 2 BioTech startups

• $90M goes to 1 Geospatial startup

• $20M goes to 1 Manufacturing startup

If you love this newsletter, forward it to someone who would also enjoy it and have them subscribe.

Edith
X, LinkedIn

PS: If you’re in San Francisco on this Thursday join us for the FoundersHK Summer Social.

Funding (300 miles radius from Silicon Valley)

Enterprise

• Fireworks AI (generative AI platform as a service) raised $52M Series B led by Sequoia Capital

• Odyssey (AI text-to-video model) raised $9M Seed led by Google Ventures

• Chorology AI (AI-powered data governance platform) raised $9M Series A

• Lekko (dynamic configuration for software development) raised $4.5M Seed led by Addition, Lux Capital

Gaming

• Volley (voice-enabled AI games) raised $55M Series C led by Lightspeed Venture Partners, M12 – Microsoft Venture Fund

Healthcare

• Adona Medical (advanced solutions for heart failure) raised $33.5M Series C led by Cormorant Asset Management, TCP Health Ventures

BioTech

• NovoNutrients (alternative protein through carbon capture) raised $18M Series A led by CM Venture Capital, Woodside Energy

• Biostate AI (AI biodata collection) raised $4M Seed led by Matter Venture Partners

Geospatial

• Hayden AI (computer vision and geospatial data collection) raised $90M Series C led by The Rise Fund

Manufacturing

• Mantle (metal 3D printing technology for precision tooling) raised $20M Series C led by Schooner Capital

IPO & M&A (300 miles radius from Silicon Valley)  

• N/A