The AlleyWatch Startup Daily Funding Report: 11/25/2024
In today’s NYC startup news, we have some exciting funding updates to share with you. Lightning AI, the brains behind PyTorch Lightning, a popular AI development framework, just secured $50M in Venture funding. Big-name investors like JP Morgan, Cisco Investments, K5 Global, and NVIDIA are backing this innovative company. Lightning AI founders, Luis Capelo and William Falcon, have now raised an impressive total of $108.5M in reported equity funding since starting out in 2019.
Another noteworthy funding announcement comes from Ride Health, a transportation solution provider for healthcare patients. They recently raised $10.9M in funding with the support of seventeen investors, as per a recent SEC filing. Ride Health, established by Imran Cronk and Sumun Khetpal in 2016, has successfully raised a total of $27.1M in reported equity funding.
Let’s not forget about North Pole Security, a MacOS endpoint protection solution, which secured $4M in funding from a sole investor, according to a recent SEC filing. The company was founded in 2024 by Peter Markowsky and Russell Hancox.
Last but not least, Qlty Software, a platform dedicated to ensuring superior code quality, received $2.5M in funding from three investors. Founded by Bryan Helmkamp in 2024, Qlty Software is making waves in the tech scene.
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