Goldman Sachs's new bet

February 21, 2024

📣 Together with Systeme

3 things in business today 😎 

  1. Goldman Sachs bets $55 million on Simetrik’s automation tech for CFOs.

    Colombian fintech startup Simetrik has raised $55 million in Series B funding, led by Goldman Sachs Asset Management. They offer financial automation solutions for businesses, focusing on record management, reconciliations, and reporting.

    Their unique approach involves Simetrik Building Blocks (SBBs), using no-code development and AI. With clients in over 35 countries, Simetrik plans to expand further with the new funding, enhancing their technology and international reach.

  2. This startup is using AI to discover new materials.

    Orbital Materials, led by former DeepMind researcher Jonathan Godwin, is using AI to discover new materials like batteries and carbon dioxide-capturing cells.

    Their AI model, Linus, generates 3D molecular structures based on natural language instructions. This approach speeds up materials discovery, making it cheaper and more efficient.

    Orbital recently raised $16 million to expand its research team and develop more innovative materials.

  3. Clumio secures $75 million in funding to automate cloud data backup and recovery.

    The demand for their services has grown due to increased cloud adoption and the rise in threats like ransomware. Clumio's platform automates the backup process and ensures data is stored securely.

    They plan to expand to other cloud providers to meet customer needs. This funding will help Clumio grow and develop new technologies to meet the changing needs of businesses.

See you tomorrow!

The Business Nerd 😎