Streamlined Ventures Newsletter
Dear Friends, Greetings from Streamlined Ventures! We are delighted to share a few significant updates since our last newsletter in May 2023.
During the last six months, we have seen a healthy uptick in investment activity across the VC landscape following a particularly slow period in 2022 and the first half of 2023. At Streamlined, we also increased our investment pace relative to 2022. We continue to invest in our primary areas of interest - namely AI and software automation.
If you recall, in our last newsletter, we outlined our thoughts on AI and its implications for our society. At the time, ChatGPT had been recently publicly released by OpenAI (as well as other chatbots, such as Google’s Bard), which all leveraged recent developments in large language models (LLMs).
Since then, we have seen significant value creation across both incumbents and startups in the space. Notably, OpenAI has reportedly crossed $1 Billion in annual revenue, despite its flagship product, ChatGPT, being launched only about a year ago. The mad dash to develop new foundation models has slowed dramatically as incumbents, or very well-funded startups such as OpenAI and Anthropic, have established a solid lead. Newer companies are focusing more on vertical market AI applications, data/training optimization, and co-pilot technologies that are built on top of foundation models.
We believe that the smoke is starting to clear around value creation in the world of AI. Unlike some previous tech bubbles that have quickly risen to fame and then fizzled out, the impact of artificial intelligence in business and in life continues to grow exponentially. We feel that this impact is still understated. We expect that the world of tech will look radically different in a matter of just the next few years as AI tech proliferates.
At Streamlined, we already have a large portfolio of companies working on market-leading applications and infrastructure in AI and software automation. We expect to continue to invest aggressively in companies applying these technologies to different vertical markets or novel consumer applications. If you come across amazing founders seeking to build exceptional companies in these areas, please continue to refer them to us.
Best wishes,
- The Streamlined Ventures Team
New Seed Investments
We have recently led or co-led seven new initial seed investments from our fifth seed fund. Listed below are the companies with which we have recently partnered. One investment is still in stealth and will be listed in our next newsletter.
Lemurian Labs is developing a general-purpose AI accelerator designed for scalability of AI compute.
Antaris Space is the world’s first software platform that dramatically simplifies the design, simulation and operation of satellites fleets.
Zerobroker is a broker-free software platform for the trucking industry.
Activeloop is a vector database that enables data science teams to build artificial intelligence products faster by replacing complex data infrastructure with Deep Lake.
Rose AI is a cutting-edge cloud data platform that leverages generative AI to help users find, clean, and visualize quantitative financial data.
Alice is a software that helps employers offer hourly workers contribution-free pre-tax benefits from the government.
Our Opportunity Fund Investments
Our Opportunity Funds allow us to continue to invest in the mid-stage financings of companies whose seed rounds we have led from our Seed Funds. We recently made two investments from our third Opportunity Fund in Formlogic and Calii.
Formlogic is an autonomous manufacturing company that uses machine learning and physics simulation to manufacture precision parts.
Calii is building the future of LatAm grocery shopping with a tech-driven marketplace that connects consumers directly with producers of fruits and vegetables.
In the News
A number of our portfolio companies have secured meaningful follow-on financing rounds recently. Below are some of the financings that have been publicly announced, along with news on Streamlined Ventures.
Ullas Naik, Founder & General Partner of Streamlined Ventures was featured in Canopy's Newsletter
Mesh, which helps people manage their digital assets, raises $22M
Caden lands $15M to let users monetize their personal data
Betterleap leverages AI to revolutionize recruitment, launches with $13M in seed funding
Atmosfy, an app that helps you discover local businesses through short-form videos, raises $12M
