Venture Capital Funding

Two years ago, I stepped into something completely new—building a life insurance business from 0 to 1. Before this, I had spent years in leadership roles, navigating the structured world of actuarial science, finance, and strategy. But at Acko Life, the rules were different. Unlike traditional setups where processes, playbooks, and legacy systems guide decisions, here we were faced with a blank slate—no product, no processes, no precedent. Besides, building insurance systems for policy administration, reinsurance, operations management, accounting and claims from scratch is not for the faint-hearted. I had to unlearn some things, learn many new ones and embrace a mindset where speed, adaptability and first principles thinking mattered more than past experience. This is where I had extensive help from Varun Dua, ACKO Founder. Here is what I realised: ✅ Decisions > Perfection: The need to move fast means there’s no room for analysis paralysis. Early on, we learned that making decisions, even with limited data, is better than waiting for the “perfect” answer. ✅ Iterate Relentlessly: What looks great on a whiteboard often fails in the real world. The best way to build? Launch → Learn → Adapt → Repeat. ✅ Consumer Obsession is Non-Negotiable: In a market where life insurance has remained largely unchanged for decades, we focused on understanding what consumers really want, not just what has always been done. The 5 Whys approach came in handy—digging deep to understand the real pain points instead of just treating symptoms. ✅ Conviction Matters: When you're creating something new, skepticism is inevitable. But belief in the problem you're solving and the impact you can create is what keeps you moving forward. ✅ No Job Descriptions in 0→1: At ACKO Life, I’ve been an actuary, strategic  planner, accountant, risk manager, salesperson, and customer advocate—all at once. In an early-stage build, you do whatever it takes to move things forward. ✅ Great Ideas Come from Everywhere: Not just from leadership or industry veterans, but from engineers, designers, customer service teams, and even casual conversations. The best solutions often come from unexpected places. ✅ The Small Wins Matter: In 0→1, you don’t always have big milestones to celebrate. The real sense of achievement comes from solving that one small problem—a friction point in the customer journey or an operational bottleneck—that earlier didn’t even appear to be a problem. The last two years have been challenging yet incredibly rewarding. 0→1 isn’t just about launching a product—it’s about creating momentum from Zero. As ACKO continues to challenge the status quo in insurance, I’m excited about what’s next. If you’ve been part of a 0→1 journey, I’d love to hear your experiences—what lessons stood out for you? #Leadership #StartupLife #Learning 

Europe’s space tech ecosystem doesn’t get enough credit for what it’s quietly building. Our latest European space tech map shows the most innovative space companies shaping the European ecosystem, from Build & Launch to Analyse & Product. Across the continent, over 5,000 companies are now active in space and satellite technologies, supported by ESA and EUSPA frameworks. The industry generates ~€8.8 billion annually and employs 60,000+ engineers and scientists. What makes Europe’s approach distinct is not scale, but structure. We’re building an interconnected network that combines scientific depth, industrial precision, and institutional reliability.   You can see it in the details: Reusable logistics platforms emerging in Germany and France. Micro-launchers advancing in the Nordics. In-orbit servicing startups gaining traction in the UK. The investment landscape is catching up to this momentum. In 2024, venture capital flowed into upstream space technologies at record levels: 🇩🇪 Germany – $561M 🇪🇸 Spain – $274M 🇬🇧 UK – $250M 🇫🇷 France – $229M 🇫🇮 Finland – $134M 🇨🇭 Switzerland – $113M   This shift to problem-solving investments is reflected in Europe’s largest space tech fundraises in the past 12 months:   − The Exploration Company (France/Germany) – $160M, Series B − Isar Aerospace (Germany) – $165M, Series C − ICEYE (Finland) – $136M, Series D − KINEXON (Germany) – $130M, Series A − Descartes Underwriting (France) – $120M, Series B   At APEX Ventures, we’re proud to back founders who are driving this transformation forward — companies like OKAPI:Orbits, ATMOS Space Cargo,OroraTech, Yuri each redefining what European innovation looks like in orbit. Let us know if we missed any startups, and we will add them in our version 2 of this map.   #Venturecapital #AI #Deeptech #Startups   Follow us at APEX Ventures and subscribe to our newsletter for exclusive content on groundbreaking Deep Tech startups:   🔗 https://t2m.io/EV2qHQuo

Defense Tech Just Broke Every VC Record. $38B Says Silicon Valley Found Its Next Gold Rush. 2025 isn't just another funding year. It's the inflection point where venture capital reshapes defense. Global defense tech pulled $7.7B across 100 deals. U.S. startups alone captured $38B through mid-year. Ten rounds exceeded $200M each. The math speaks volumes: Startups now claim 1.3% of Pentagon contracts, up from 0.6% last year. Private equity surged with defense M&A hitting 125 deals in Q3, a 30% year-over-year jump. Who's writing checks? Andreessen Horowitz, Founders Fund, Lux Capital, Battery Ventures, Coatue. They're not betting on missiles. They're betting on autonomy. The mega-rounds tell the story. • Anduril: $2.5B at $30.5B valuation—autonomous everything • Chaos Industries: $510M for AI-powered radar meshes • Saronic: $600M for robot boats that hunt in packs • Helsing: $489M bringing European AI to battlefields Notice the pattern? Software eating hardware. Autonomy replacing humans. Decision cycles compressed from hours to seconds. Border security became the unexpected catalyst. Trump's sovereignty push transformed military tech into homeland tools. Anduril's 300+ surveillance towers now watch Arizona. AI that tracked ISIS finds fentanyl smugglers. Counter-drone systems built for Ukraine intercept cartel deliveries. CBP's fentanyl seizures surge with AI assistance. Autonomous surveillance towers in the Big Bend Sector never blink. Predictive analytics flag suspicious vehicles before they cross. The Western Hemisphere pivot changes everything. Cartels use drones for smuggling, surveillance, and prison drops. Our response: the same swarm tech defeating Russian armor, repurposed for narco-terror. Ukraine proved the model. Robot-on-robot warfare. Persistent surveillance. Force multiplication through autonomy. What works in Bakhmut works in El Paso. VCs see what Pentagon procurement missed: Speed beats perfection. Commercial beats custom. When startups deliver capability in months while primes debate requirements for years, capital follows velocity. Defense tech captured more VC dollars than biotech $19B vs $16.6B. That's never happened before. Is your portfolio still chasing SaaS multiples or building tomorrow's deterrence? ---------- Like this content? Join our newsletter. Link located below my name 👆

A new global arms race is underway — and it’s getting costly. The demand for weapons in the Russia-Ukraine war is claiming a lot of the world’s capacity, even as the U.S. pulls back. The commitment by many Western countries, including Canada, to big increases in their defence budgets will only add to that demand. By one estimate, there could soon be another $1.9 trillion budgeted in the coming years for defence spending — and that’s just in the West. Where will all that money come from? And who will produce all the equipment, technology and weapons it will go shopping for? To bridge the gap, a lot of companies and public sector enterprises will need a new generation of capital to scale their innovation labs and production lines, and tackle new markets. It’s about much more than procurement and order books. The new defence and security sector will need new forms of capital, from venture to long-term equity. I’m in London and met today with a group of bankers, defence leaders and government officials to discuss a novel approach called the Defence, Security and Resilience Bank, a British-inspired idea that would pool capital from member countries. Those countries could then each borrow from the bank to finance expanded defence budgets, especially if their own borrowing costs in the open market are going up. Another novelty: This new form of multilateral bank could support guarantees for banks to lend to defence and security companies, making them much less risky. Here’s one of the challenges: The defence sector is made up of large multinational companies, which have a straight line to capital, and a vast array of smaller suppliers that don’t. Those small and medium sized enterprises, including a lot of Canadians, could soon see a massive increase in orders that they may not be ready for. That’s why many will need new equity investors or venture backers, depending on their size, to quickly expand. It’s not just defence firms. Lots of dual use security companies will be in the mix, too. Think of cyber, sonar and space, even health. An added challenge: many financial institutions, including government agencies, have shied away from defence companies, especially if they make lethal weapons. A new playbook may be needed, including definitions for security and defence. Eighty years ago this fall, the United Nations was created to help protect the world against major wars, largely through the rule of law, global standards and investments ion peacekeeping and human development. Now the focus is on deterrence. Starting in the 1940s, the UN approach used multilateral finance — think of the World Bank — to keep the world together. Can a similar approach to defence and security work? If it does, it may need to serve its own “dual purpose” — buzzwords of the season — to both deter conflict through strength while promoting peace through prosperity. RBC Thought Leadership

2025 was the year SpaceTech startups in India really took flight Digantara raised $50M Series B in Dec 2025, Pixxel beat incumbents to win the ₹1200 crore EO-PPP, Govt launched the ₹1600 crore Antariksh Venture Capital Fund & much more India’s $10bn+ SpaceTech opportunity is visible in plain sight - there is progress on Policy, Product & Procurement. Here is a recap of the year gone by⤵️ 1️⃣ SpaceTech startups delivered on milestones despite being on shoestring budgets (a) Jan 2, 2025 - Bellatrix Aerospace - RUDRA green propulsion demo on POEM-4 successful (b) Jan 14, 2025 - Pixxel - First 3 Firefly hyperspectral satellites launched (Transporter-12) (c) Jan 14, 2025 - Digantara - First space-based SSA satellite launched (same rideshare) (d) May 21, 2025 - Skyroot Aerospace - Stage-separation test (Vikram-1) successful (e) Jun 11, 2025 - Skyroot Aerospace - Payload fairing separation test successful (f) Aug 8, 2025 - Skyroot Aerospace - Stage-1 static fire (KALAM-1200 motor) successful (g) Aug 26, 2025 - Pixxel - Second Firefly batch launched, completing phase-1 2️⃣ Funding shifted from small Seed cheques to large institutional rounds: (a) April ‘24: Dhruva Space (SmallSat platform) - $15M Series A (b) Dec '24: Pixxel (Earth Observation stack) - $24M Series B extension (c) May '25: InspeCity (satellite life extension) - $5.6M Seed (d) Sep '25: SpaceFields (propulsion)- $4.5M pre-Series A (e) Dec '25: Digantara (space situational awareness stack) - $50M Series B And, we have all heard rumors of a $55M Series C at Pixxel! Therefore, Digantara, Pixxel & Skyroot Aerspace would be the 3 Indian SpaceTech companies which have raised > $50M in a single funding round! 🏆 India’s RTP in space lies in our ability to provide globally optimal Tech at an affordable price: In 2017, ISRO’s PSLV-C37 carried 101 foreign satellites - less than a year later, the Cabinet cleared funding for 30 more PSLV launches. My grandfather reminded me of 21st November 1963 - ISRO’s first ever launch, India’s 1st ever rocket launch. India’s first rocket was transported on a bicycle through the sandy lanes of Thumba, near Thiruvananthapuram, Kerala - St. Mary Magdalene Church served as the launch command station. The world didn’t notice this at all but every major milestone since (e.g. Chandrayaan, Mangalyaan etc) has been closely tracked by the West. His words were: “We’re always late & therefore written off - but when we apply our mind+people++capital with conviction, we catch up & then shock everyone” #startups #india

The best defense is a good (funding) offense. Investors, governments, and builders are all in on defense tech. In recent weeks, we saw major deals and announcements including Anduril's oversubscribed $2.5B Series G, Anthropic's release of defense-specific models, and Impulse Space's $300M Series C. 🚀 Defense tech is having a breakout year – on track for a record-breaking year with projected investor participation up 31% YoY to nearly 1,000 unique investors. This surge represents the highest level of investor interest ever recorded in the sector. The momentum is particularly striking given broader venture market headwinds, signaling that defense tech has become a must-have allocation for institutional portfolios. 💸 The investor base is diversifying beyond traditional defense-focused funds, with generalist VCs like a16z and 8VC developing specific theses in the sector. These investors bring Silicon Valley playbooks — rapid iteration, software scalability, and platform thinking — to an industry historically dominated by slow-moving defense primes. This cross-pollination is accelerating innovation cycles from years to months in critical areas like autonomous systems manufacturing. 🌏 Geopolitical tensions and the Ukraine conflict have validated the strategic importance of defense tech, driving both government and private capital allocation. Earnings call mentions of "defense" reached an all-time high in Q1 2025, while major tech companies and the hottest AI startups are forming consortiums to compete for DoD contracts. This mainstreaming of defense tech reduces reputational risk for investors and opens institutional capital pools previously unavailable to the sector. In chatting with Justin Fanelli (CTO, Department of Navy), it is clear that the increased investor and builder is fueled by the government's increasingly innovation-forward appetite. "Investors and founders who have backed this sector and mission have moved the needle for national security, even while we've been slow, reluctant buyers. We are now overhauling the way we buy at scale. We have shifted many buyer orgs from program offices to more flexible portfolios. This is one of several ways we're putting far more emphasis on impact and value. Innovation adoption and commercial-first pushes have already made us more adaptive and resilient. We want a wider base of high performers. What's better than competition to serve those who serve all Americans better? Recent AI and raise news shows there's more room to make bigger impacts. If we nail this, I think it's fair to expect impact and investment will continue to grow." Curious about the defense tech markets and companies seeing the most interest? Explore the data and insights for *free* in the comments.

I talked to Flexpoint Ford's Managing Director Mike Morris about investing in music. Here are the main takeaways from our chat: 1. The catalogs of bigger artists are not necessarily “better” investments. An artist does not need to be Billie Eilish or Justin Bieber to have a loyal and predictable fanbase. A smaller artist can have a smaller audience that consistently engages with their music. 2. Diversification matters more than picking a few iconic winners. Flexpoint is not making isolated bets on one or two big catalogs for hundreds of millions of dollars. They have diversified the portfolio of assets and service relationships to produce more predictable cash flows. 3. Investors are buying music earlier than ever. Duetti now buys catalogs as young as six months. But they’re not underwriting the risk the same as a song from 2006. Those younger assets need to be priced according to that risk. 4. Digitally native music companies may have an edge. Create Music Group, one of Flexpoint’s portfolio companies, began as a YouTube rights-management business. They’ve since expanded into distribution, labels, and invested in companies built around UGC and creator content. 5. Forever catalogs may not be “forever.” Some investors may assume that some artists are timeless, but are we sure that Gen Alpha will really care about music from the 70s nd 80s? Especially if they are purchased at 20x revenue multiples or higher. 6. Expect more alternate catalog financing deals like The Weeknd. In December, The Weeknd did a $1 billion joint venture partnership with Lyric Capital. The Weeknd will retain a 75% ownership stake and received $250M immediately as part of the deal. Mike expects more of these deals by the end of 2027. 7. An unsolved problem: music marketing. The industry spends a lot of money on promotion, but it’s still difficult to attribute its performance. A company that can make music marketing both measurable and effective is an opportunity that Mike and Flexpoint are interested in. You can listen to the full conversation here on the latest episode of Trapital: https://lnkd.in/g5M-Gi9c

₹1,003 Crore, 54 Startups, 1 Bet: Why Info Edge Is Quietly Building India's Deeptech Future For years, India's startup success story was built on consumer internet giants. But the next chapter of India's innovation economy may be written by AI models, warehouse robots, electric aircraft, semiconductor technologies & space propulsion systems. One of India's earliest internet pioneers is already placing that bet. Info Edge has invested ₹1,003 crore across 54 AI-native & deeptech startups since 2020. ✅ ₹1,003 Crore Frontier Portfolio Info Edge's AI and deeptech investments are being deployed through many platforms, including Redstart Labs, Capital 2B, and Info Edge Ventures. Some of the notable companies: • Aftershoot • Gnani.ai • Phot.ai • Unbox Robotics • ePlane Company • Bharat Semi • Manastu Space • String Bio Info Edge & its managed funds have deployed nearly ₹4,900 crore into 135 startups, with a total portfolio valued at ₹41,300+ crore. That's an 8.4x value creation journey. ✅ Real Story Is National Capability. Several companies have already become beneficiaries of major national innovation programs. 1. gnani.ai: Selected under the IndiaAI Mission and awarded substantial sovereign GPU compute resources to build multilingual voice AI systems. 2. The ePlane Company: Received one of the largest allocations under India's Research, Development & Innovation framework to accelerate electric aviation development. 3. Manastu Space: Secured strategic support to build indigenous satellite propulsion technologies. ✅ Why Deeptech Is a Completely Different Game Deeptech businesses don't scale with laptops & cloud subscriptions alone. They require years of R&D. Patents. Hardware validation. Manufacturing. Scientific breakthroughs. And mostly, patient capital. The journey - Traditional SaaS - Idea → Product → Revenue → Scale - Deeptech - Research → Prototype → Testing → Validation → Commercialization One path can reach product-market fit in months. The other can take a decade. That is why Info Edge has openly acknowledged deeptech investing carries higher mortality risk than conventional software investing. ✅ Let me share the #Rajspectives Among all frontier categories, one sector stands out. Industrial robotics. Specifically, warehouse automation. Companies like Unbox Robotics are solving immediate business problems for logistics operators while benefiting from India's manufacturing expansion and rising e-commerce volumes. Unlike many frontier sectors that require years before commercialisation, automation companies are already generating real enterprise demand today. As global supply chains diversify & fulfilment networks become more complex, robotics could become one of India's fastest routes to building globally competitive deeptech champions. The significance of Info Edge's ₹1,003 crore bet signals that Indian capital is finally moving upstream from funding applications to funding invention. #india #AI #technology #funding #startup #investing

FILM FINANCING AS AN ALTERNATIVE ASSET CLASS For family offices and private investors, independent film and television projects represent a sophisticated asset segment that combines intellectual property creation with structured recoupment models. The opportunity lies in understanding how capital moves through the financing stack and how risk and liquidity are managed at each stage. ⸻ EQUITY PARTICIPATION Equity represents ownership. Investors exchange capital for a share of the film’s revenue through theatrical sales, streaming, licensing, and catalog value. Capital remains at risk until recouped, but successful distribution can deliver outsized returns. Seasoned investors structure equity positions with first-position recoupment, executive producer credit, and defined backend participation to protect their upside. ⸻ DEBT FINANCING Debt provides a collateralized, income-based approach to film investment. Lenders underwrite loans against secured receivables such as pre-sales, distribution minimum guarantees, or transferable state tax credits. Interest and fees are repaid from contracted revenue streams, reducing exposure and positioning the loan as a form of asset-backed lending. Completion bonds further mitigate delivery risk and enhance capital security. ⸻ BRIDGE AND GAP FINANCING Bridge and gap facilities maintain production continuity between funding milestones. Bridge loans cover timing gaps before contracted funds clear, while gap loans secure the final portion of a budget not yet backed by confirmed collateral. These short-duration instruments are typically supported by unsold territories, pending tax incentives, or distribution receivables and offer premium yields reflecting execution sensitivity. ⸻ TAX CREDITS AND INCENTIVES Government-backed incentives act as soft-money equity. Credits can be monetized or factored upfront to provide immediate liquidity. Leading U.S. jurisdictions—Georgia, New Mexico, Louisiana, Ohio, and New York—remain competitive because of transparent, transferable credit programs and strong local-spend multipliers. ⸻ STRATEGIC PARTNERSHIPS AND BRAND INTEGRATION Corporate partnerships and product placement supply non-dilutive capital and marketing exposure. These relationships can offset production costs through co-branded campaigns, hospitality support, or in-kind value that enhances both the film’s visibility and investor return profile. ⸻ WHY IT MATTERS Film assets behave more like structured credit than speculative art. When professionally packaged—with bonded budgets, collateralized incentives, and diversified recoupment streams—they offer investors an alternative asset class capable of producing asymmetric upside within a disciplined, risk-managed framework.

Insurance breaks startup timelines. Most startups plan 12-18 months for MVP → early traction → the next raise. But insurance takes 2x longer than founders expect. Your first 18 months vanish into authorisation, capacity and integrations. Why nothing moves fast here: 👉  Regulation isn't a checkbox: - Using another firm's licence (AR route): weeks to months, but move at your principal’s pace - Direct FCA authorisation? 6-12 months of detailed business plans - Full carrier (FCA + PRA)? 12-24+ months including mobilisation 👉 Partners shape your path: - You don't just "get a panel" - you earn capacity - Insurers want 12+ months of loss ratios, pricing models, and fraud controls - If you’re new, bring a credibility pack: team pedigree, explainable pricing, early selection signals, a claims plan - Translation: prove your book won’t blow up their balance sheet 👉  Integrations take quarters, not sprints: - Core systems, policy administration, claims platforms - most require lengthy integrations with legacy infrastructure that predates the internet - Everything moves at the speed of compliance, not code Extended timelines demand patient capital. When it takes 24+ months to prove your model, you need bigger investment rounds earlier, with backers who understand insurance cycles. A playbook that works: 1. Start lean (AR/MGA/DA). Ship narrow, fast - one product, one channel, configurable systems. 2. Prove the model. Show you can pick good risks, price fairly, stop fraud, and pay claims fast + accurately. 3. Earn capacity. Turn proof into paper/terms; engage early with partners and regulators. 4. Go deeper (MGA → full-stack) when you have a repeatable selection edge. Add lines, limits, markets. Few make it through the gates - and the survivors build outsized moats. The defensibility in insurance isn’t (just) the tech. It’s the track record you earn over time, proprietary distribution and data to improve pricing. The hardest thing to copy is a multi-year book that partners and customers trust. Which other sectors take years to reach the metrics most startups hit in 12–18 months? ----------------------------------------- ♻️ Share with someone building in insurance. 🔔 Follow Phoebe Chibuzo Hugh for more like this.