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Web3 & Tech VC Roundup: Databricks Hits $43B Valuation

Boardroom’s latest roundup of Web3 and tech venture capital deals includes new investments for Mighty Buildings, Animoca Brands, Druid, and more.

Data and AI company Databricks closed a $500 million investment round, boosting its valuation up to $43 billion.

T. Rowe Price Associates led Databricks’ Series I investment round, which also included new investors Nvidia and Capital One Ventures. Existing investors, including Andreessen Horowitz, Fidelity Management & Research Company, Tiger Global, and more, also participated in the round.

Founded in 2103, Databricks is an enterprise software developer building a cloud platform to simplify the data management process. The company’s flagship platform, Databricks Lakehouse, brings data, analytics, and AI under one platform for companies to manage and track enterprise data insights.

“The commitment from long-term focused strategic and financial partners reflects Databricks’ continued momentum, the rapid customer adoption of the Databricks Lakehouse, and the success customers are seeing from moving to a unified data and AI platform,” Databricks co-founder and CEO Ali Ghodsi said in a statement. “Databricks and NVIDIA are building transformative AI technology, and we’re excited about the business value and innovation we can bring to our customers.”

Here’s a recap of more Web3 and Tech VC deals closed in recent weeks.

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Mighty Buildings: $52M to Build 3D-Printed Homes

Mighty Buildings, a tech startup developing prefabricated and environmentally friendly homes, closed a $52 million funding round co-led by Waed Ventures and Bold Capital. Khosla Ventures also participated in the round. The new raise values Mighty Buildings at about $350 million.

Founded in 2017, Might Buildings is on a mission to automate the home construction process by leveraging 3D printing. Prices for the company’s homes start at $115,000.

Mighty Buildings will use the new funding to expand in North America and the Middle East, with a larger focus on expanding more into Saudi Arabia. Some of the funding will also go toward launching a new-age modular homebuilding kit.

Animoca Brands: $20M to Build The Mocaverse

Animoca Brands raised $20 million to build out its new metaverse project called the Mocaverse. CMCC Global led the funding round, which also included investments from a group of investors, including Kingsway Capital, Liberty City Ventures, and GameFi Ventures.

The new project includes a collection of 8,888 NFTs linked to exclusive access to the platform. The blockchain and gaming leader is building the Mocaverse to bring its ecosystem under one umbrella. Mocaverse holders will maintain their identities using a Moca ID, which can also be used to authenticate holders’ blockchain identities.

With this fresh raise, Animoca also expanded in the Japanese market and acquired six unnamed enterprises.

More Notable Investments

  • Google is investing $20 million into building a responsible AI fund focused on gathering research on AI’s impact on society.
  • Defense AI startup Helsing raised a $223 million Series B, becoming one of Europe’s larges AI companies.
  • Europe-based Druid closed a $30 million Series B to build out its conversational business applications that can integrate with ChatGPT.
  • Anna Wilding, a photographer best known for capturing former president Barack Obama, launched a production company and is working on raising $50 million for a content fund.
  • AI networking chipmaker Enfabrica raised $125 million in Series B funding from Nvidia, Liberty Global Ventures, Atreides Management and others.
  • Pahdo Labs raised $15 million to create an anime-style game and user-generated content platform.
  • Cendana Capital raised $470 million to invest in and support seed-stage managers.
  • Battery recycling company Ascend Elements closed a $542 million Series D led by Decarbonization Partners.
  • Rascal Games closed a $4.2 million funding round to build a social-focused multiplayer adventure game dubbed Project Wayward.
  • India-based fintech company Perfios, a developer of credit underwriting solutions, raised $229 million to expand into Northern American and European markets.
  • Imbue‘s valuation hit $1 billion after the AI startup closed a $200 million funding round led by Astera Institute, NVIDIA, Cruise CEO Kyle Vogt, Notion co-founder Simon Last, and other investors.

Want More Tech News?

Emerging Tech September 28, 2023

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