DCM Newsletter — Q1 2024
DCM Firm News
DCM Atlas 2024 Kicked Off
DCM started the 2024 cohort of DCM Atlas, a 5-month seed program in which DCM invest’s 40 million yen in each startup participating. Companies in the program are both consumer and B2B, leveraging tech in various sectors from retail and logistics to the silver market. Final presentations for the program will take place in June.
Fiona Huang Recognized in Venture Capital Journal’s Rising Stars of VC List
DCM Partner Fiona Huang was recognized on Venture Capital Journal’s annual Rising Stars of VC List for 2024. The list features 40 rising stars under the age of 40 in VC.
US
TextQL Raised $4.1 Million to Use AI to Automate the Data Science Lifecycle
TextQL, a platform that connects a company’s existing data stack to large language models like OpenAI’s ChatGPT and GPT-4, raised $4.1 million across pre-seed and seed rounds. DCM co-led the round alongside Neo.
Skylo Raised $37 Million from Intel, BMW, Samsung and More
Skylo, an NTN service provider, raised a $37 million equity round bringing total funding to $153 million. Skylo aims to bridge the gap between satellite and terrestrial communications, providing a network to connect new devices via existing satellites. DCM led Skylo’s Series A round in 2017.
FlowGPT Announced $10 Million in Funding from Goodwater Capital and DCM
AI prompt creator platform, FlowGPT, announced it has raised $10 million in a Pre-Series A round. FlowGPT will use the funding to expand its engineering and research teams globally. DCM led FlowGPT’s prior round while the company was still in stealth.
Figure Technologies Launched Figure Markets
Financial services platform Figure announced the launch of Figure Markets, the first step in a vision to create an “everything marketplace” where investors can trade a wide range of blockchain-native assets from crypto to stocks to alternative investments. DCM led the Seed round for Figure.
Japan
CADDi Partnered with HILLTOP TECHNOLOGY LABORATORY INC.
CADDi, a B2B supply chain marketplace, announced a partnership with Hilltop Technology Laboratory, Inc., a manufacturing service provider specializing in rapid, precision prototyping using advanced CNC machining technology. Hilltop Technology will adopt CADDi Drawer, an AI-enabled drawing management system designed to revolutionize efficiency and productivity. DCM led CADDI’s Seed round in 2018.
China
Urtopia Impressed at CES 2024 with AI-Powered Electric Bicycle
Urtopia, the Hong Kong-based electric bicycle specialist, was eye-catching at CES 2024 for the company’s latest AI-powered electric bicycle that integrates with ChatGPT. The dual-motor, dual-battery bike uses AI and ChatGPT to plan bike routes through its smart navigation system. Alongside Lightspeed China Partners, DCM led the Seed round for Urtopia in February 2022.
Global
Moove Raised $100M Series B from Uber
Global mobility fintech company, Moove, raised $100 million Series B from Uber and existing investors, bringing valuation to $750 million. Moove will use the funding to expand its vehicle financing offering to 16 markets globally by the end of 2025. DCM participated in Moove’s Series A round in 2021.
