Beej Daily Updates(03-07-2023)

Runway, a startup building generative AI for content creators, raises $141M

Runway, a startup building generative AI tools for multimedia content creators, as raised $141 million extension to its Series C round.The startup recently founded Runway Studios, an entertainment division that serves as a production partner for enterprise clients. It also launched the AI Film Festival, an event Runway claims is one of the first dedicated to showcasing films produced in whole or in part by AI.

B Garage raises $20M for its warehouse inventory drones?

B Garage raises $20 million in a Series A round of funding for its warehouse inventory drones. B Garage’s mission is to address the labor shortage issue in those sectors by utilizing artificial intelligence and autonomous technology. Its plan is to continue enhancing its software solutions with the goal of integrating with its hardware to apply its technology to industries beyond logistics, such as defense and security, according to the company.

Material Evolution raises $19M to decarbonize the cement industry

Material Evolution has raised ￡15 million ($19 million) in a Series A round of funding to scale production of its low-carbon cement, which it says has an 85% lower carbon-footprint than normal Portland cement. This funding will play a crucial role in accelerating the company’s efforts to provide an environmentally friendly alternative to conventional cement, contributing to the reduction of carbon emissions in the construction industry.

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