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October 25, 2023 - Deals
Sidemen Launch Upside VC With Investment Interests In Social Media Sector Amount Undisclosed
RAISE
IMAGE: Josh Bradley, Simon Minter, Olajide “JJ” Olatunji, Tobi Brown, Ethan Payne, Vikram Barn & Harry Lewis
DATE: 10/16/2023
COMPANY: Upside VC
AMOUNT: XXX XXX
NOTE: The Sidemen, a group of celebrity YouTubers with over 20 million followers, have ventured into the world of venture capital with their new VC firm, Upside VC. Notably, two members, Joshua Bradley (Zerkaa) and Vikram Singh Barn (Vikkstar), were previously listed as directors of Upside VC. The Sidemen are exploring various investment opportunities, emphasizing the symbiotic relationship between startups and content creators, and they have shown interest in companies in the social media and creator economy sector, potentially leveraging their extensive networks and experiences in media and entertainment to support portfolio companies.
#VentureCapital #JoshBradley #SimonMinter #OlajideJJOlatunji #TobiBrown #EthanPayne #VikramBarn #HarryLewis #UpsideVC #TradedVC
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Porsche Partners With Tata Consultancy On €1.25 Billion AI Transformation DealPorsche is making a €1.25 billion bet on AI.
The automaker is partnering with Tata Consultancy Services on a five-year deployment spanning engineering, manufacturing, operations, and customer experience, while also selling its MHP subsidiary to TCS for €320 million.
The deal includes the creation of a dedicated AI Mobility Centre of Excellence and brings MHP’s 4,500 employees into the broader TCS ecosystem.
One of Europe’s most iconic industrial brands is going all-in on AI infrastructure and outsourcing part of the transformation to one of the world’s largest technology services firms.
The next major AI adoption wave may not come from Silicon Valley. It may come from the world’s largest industrial companies.
Blank Street Raises $105 Million In Series B Funding Led By General AtlanticBrooklyn-based coffee chain Blank Street has raised $105 million in new funding, including a $75 million Series B led by General Atlantic and $30 million in secondary capital, valuing the company at about $650 million. The six-year-old chain, which now operates more than 100 locations, will use the fresh capital to expand into affluent parts of California, including Beverly Hills, West Hollywood and Malibu, as it broadens beyond its coffee-focused roots into an all-day brand centered on coffee, matcha, snacks and ice cream.
FOUNDERS: Issam Freiha & Vinay Menda
INVESTORS: General Atlantic, Left Lane Capital, General Catalyst & Tiger Global
ROUND: Series B
AMOUNT: $105,000,000
VALUATION: $650,000,000
HQ: Brooklyn, New York
#VentureCapital #BlankStreet #IssamFreiha #VinayMenda #TradedVC
Micron Technology Launches $250 Million Venture Fund To Support AI StartupsMicron Technology has launched a $250 million Micron Ventures Paradigm Fund, its third and largest venture fund, bringing its total venture capital commitment to $550 million. The fund will back startups across AI model architecture, data infrastructure, in-memory computing, networking, enterprise AI and robotics, alongside Micron’s separate $10 billion, decade-long research initiative modeled after Bell Labs; CEO Sanjay Mehrotra announced both efforts as part of the company’s push to make memory a core pillar of AI infrastructure.
FOUNDERS: Ward Parkinson, Joe Parkinson, Dennis Wilson and Doug Pitman
AMOUNT: $250,000,000
HQ: Boise, Idaho
#VentureCapital #MicronTechnology #MicronVenturesParadigmFund #TradedVC