Sourcery ✨ Feb Recap
Hadrian, OpenGov, Magic.dev, Lambda, Eigenlayer, Unseenlabs, HighArc, Quilter, Oishii, Meter, Mindy, Jam, Scribe, Lapse, Bugcrowd, Abridge, Fabric, Accompany Health, FlowFi, Kin, Nasdaq Private Market
Happy 1st day of March!
February continues to show that VC markets aren’t closed.. and well, we’re funded to make sure they never actually do.
While fewer deals are getting done compared to 2021-2022, some huge AI-driven & vertically integrated companies are getting built. The AI/LLM ‘identity crisis’ is subsiding and both Founders and Investors are understanding the real effects & roles of LLMs, AI agents, and large incumbents in disrupting their existing companies and emerging opportunities.
This new innovation cycle is ultimately leading to more efficiency gains in operational costs and go-to-market practices, which is net-positive for those who can weather the storm. Overall, the startup market correction is underway and we’re in the midst of a great ‘normalization’ with automation.
Given that, companies have begun to heavily adopt the AI-driven workflow & narrative into their businesses from AI-driven industrials, clinical documentation, and work assistants, to AI-driven expensive strawberry companies 🍓.
Stay tuned for more, & enjoy the details if you’re an upgraded subscriber :)
PS We have an exciting interview coming out this Sunday with Alex Kolicich, Founding Partner of 8VC, a $6B venture capital fund embracing the frontier.
Four deals really stood out:
Hadrian raised a $117M Series B to defy history and revitalize American industry with automated precision component factories
Lambda Labs closed a $320M Series C at a $1.5B valuation to accelerate their GPU cloud computing for AI training