Spotify, Hauler Hero, and Entire, a dev tool startup, all secured significant funding rounds, while India implemented new regulations for deepfakes, and Primary Ventures launched a new fund, according to multiple reports. Spotify saw its user base reach a record 751 million monthly active users, driven by its Wrapped campaign and new free features, as reported by TechCrunch. Simultaneously, Hauler Hero, an AI-powered waste management software company, raised $16 million in a Series A round, and Entire, a dev tool startup led by former GitHub CEO Thomas Dohmke, secured a record $60 million seed round. India's new regulations mandate stricter policing of deepfakes and AI-generated impersonations, while Primary Ventures closed a $625 million fund focused on seed investing.
Hauler Hero's $16 million Series A round was led by Frontier Growth, with participation from K5 Global and Somersault Ventures, bringing its total venture capital raised to over $27 million, according to TechCrunch. The New York-based startup's software platform covers customer relationship management, billing, and routing, and it plans to incorporate AI agents. Entire, the dev tool startup, secured its $60 million seed round at a $300 million valuation, as reported by TechCrunch. The tool offers an open-source solution to help developers manage AI-produced code, including a git-compatible database, a universal semantic reasoning layer, and an AI-native user interface.
Spotify's record user numbers were fueled by its Wrapped campaign, which engaged over 300 million users and generated 630 million social media shares in 56 languages, according to TechCrunch. The company's paying subscribers increased to 290 million in the quarter. Revenue reached 4.53 billion (5.39 billion), up 7% year-over-year, thanks to an 8% increase in subscription revenue. However, ad-supported revenue dipped by 4% to 518 million (616.6 million).
India's new regulations, published as amendments to the 2021 IT Rules, bring deepfakes under a formal regulatory framework, mandating the labeling and traceability of synthetic audio and visual content, as reported by TechCrunch. The changes also include a three-hour deadline for official takedown orders and a two-hour window for urgent user complaints.
Primary Ventures closed a $625 million Fund V focused on seed investing nationwide, according to TechCrunch. Ben Sun, a co-founder and general partner at Primary Ventures, said the average check size for this fund will range from $5 million to $10 million, with the firm aiming to invest in 40 to 50 companies over three years. He noted that the fund would also consider pre-seed investments.
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