The Canada-based startup developed AI visual inspection tech for manufacturing.
It also specialized in making AI models more efficient (aka smaller and faster), which aligns with Apple’s on-device priorities — as highlighted by CBI’s funding insights on DarwinAI’s profile.
Many of the startup’s employees have reportedly joined Apple’s AI division.
Before the acquisition, DarwinAI’s headcount had been trending down per CB Insights’ headcount data.
While terms of the acquisition were not disclosed, an exit is likely a welcome outcome for DarwinAI and its investors/employees as future financing remains limited (yes, even for AI startups).
Not: US corporate venture deals
The CVC pullback has been dramatic in the US, where deal volume slumped 25% in the last quarter of 2023.
Meanwhile, Asia and Europe saw growth in CVC activity in Q4’23.
Japan stands out as the capital of CVC activity right now.
Non-alcoholic beverage brand Liquid Death just catapulted into the unicorn club with a $1.4B valuation.
The co’s heavy metal branding and strong retail sales are drawing a ton of attention from investors, including celebs like Steve Aoki and Tony Hawk.
Investors are also paying attention to its social media presence — it has gained millions of followers by doing some wild things, like selling skateboards painted with Tony Hawk’s blood.
Last week, the US House voted to effectively ban the app unless China-based ByteDance divests it.
Why is this happening?
Well, things have been heating up between the US and China for a bit now, and lawmakers see the app — and its influence on young minds — as a national security threat.
As this geopolitical tension has intensified, TikTok isn’t the only thing that has come under fire.
For example, cross-border AI deals between the US and China have also taken a hit.
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