Spies, Allies, and Business, Fundings: ClimateView, Pecepto, Pyrra
14 June 2023 - A Weekly Publication by New North Ventures
Founded: 2018
Key People: Co-founded by Einar Bodström, Jeff Goens, and Tomer Shalit
Elevator Pitch: A climate SaaS platform designed for local governments to plan, simulate, and execute their climate transition.
Funding: The company raised EUR 14 million of venture funding in a deal led by 2050 on June 13, 2023. Polar Structure and 6 other investors also participated in the round.
Founded: 2014
Key People: Co-founded by Sagi Blonder, Dor Abuhasira, Ariel Avitan, and Raviv Raz
Elevator Pitch: A computer vision technology designed to be used in fully autonomous multi-mission on-site drones.
Funding: The company raised $67 million of Series C venture funding through the combination of debt and equity in a deal led by Koch Disruptive Technologies and Zimmer Partners on June 12, 2023. Siemens Energy Ventures and 5 other investors also participated in the round.
Founded: 2021
Key People: Co-founded by Welton Chang Ph.D, Rebecca Jones, and Eric Curwin
Elevator Pitch: An online threat research software designed to make the internet and the world safer.
Funding: The company raised an undisclosed amount of seed funding in a deal led by Ducera Partners on June 12, 2023. Andav Capital and Growth Science Ventures also participated in the round.
Sequoia’s Split Sends Warning to Every Company Doing US-China Business
Sequoia Capital, a renowned venture capital firm, is splitting itself into three separate regional entities – India, China, and the US – in response to the complexities of running a decentralized global investment business.
The move is partially influenced by increasing political tensions between the US and China, with Sequoia facing criticism for its China investments and the looming threat of a potential executive order from the Biden administration restricting US investments in foreign entities.
Sequoia has defended its Chinese investments in the past and sought to establish its US and China operations as separate entities, but the formal split now acknowledges the growing liability of ties to China in Silicon Valley.
The separation is viewed as a win for the Biden administration and reflects the sensitivity surrounding close connections with China, leading to concerns among investors and potential repercussions for tech investments.
Sequoia's history of lucrative investments in China has been impacted by changing geopolitical dynamics and increased scrutiny, signaling a shift in venture capital's relationship with China and its implications for US policy.
Cuba is Hosting a Chinese Spy Station, White House Says
The Biden administration revealed the existence of a Chinese eavesdropping post in Cuba, part of China's broader efforts to expand intelligence gathering and military operations globally.
The spy station in Cuba has been in operation since at least 2019 and has undergone upgrades. China reportedly reached a "secret agreement" with Cuba to build the facility.
While Chinese officials denied knowledge of the facility, the National Security Council confirmed its existence, calling it "well-documented in the intelligence record."
The Biden administration criticized the Trump administration for not adequately addressing the issue, and they are now working to counter China's activities and slow its bid to enhance its presence in the region. Republican lawmakers expressed concern over the administration's response.
U.S. Defense Companies Find Roadblocks in Selling Space Technologies to Allies
Lockheed Martin, one of the largest U.S. arms makers, is experiencing increased demand for space technologies from U.S. military allies, but faces challenges in selling to them due to policy and security barriers.
U.S. allies have significantly increased their pace of space acquisition, particularly in satellites and sensors for protecting assets in orbit.
Restrictions on the sale of U.S. space technologies to foreign allies and limited cooperation in acquisition programs hinder collaboration and interoperability between the U.S. and its allies.
Initiatives like "allied by design" seek to develop joint defense space systems with allies, but issues such as classification and authority to share specific information impede progress.
Look for a new episode of Securing the Future Podcasts wherever you listen. In our latest episode, we have guest Ross Haleliuk sit down with General Partner Jeremy Hitchcock for an engaging conversation where Ross discusses the cybersecurity space and outlines ways to optimize the industry for a more secure future.