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The official channel of V3V Ventures. We share updates on our investments, portfolio companies, and fund activities. Buy Ads: @strategy (this is our only account).
😥Microsoft to pump $3 billion into cloud and AI push in India
Microsoft plans to invest $3 billion in India to enhance its cloud and AI capabilities, aiming to expand Azure services and upskill 10 million people by 2030. CEO Satya Nadella announced this initiative during an event in Bengaluru, highlighting the growing demand for Microsoft’s technologies among Indian clients, including firms like Infosys and Air India.
This investment is part of a broader strategy by American tech giants to establish a significant presence in India, which has become a crucial market for technology development. More than 17 million developers in India utilize Microsoft's GitHub platform, showcasing the company's significant footprint in the region.
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🔵 Accel could raise billions for India, but it’s sticking to $650 million
Accel has opted to maintain its India fund size at $650 million for its eighth vehicle, despite opportunities to raise significantly more. Partner Shekhar Kirani explained that while other firms are increasing their funds, Accel believes that exceeding $650 million makes it challenging to generate high-quality returns. The firm has a history of strong performance in India, exemplified by early investments in successful startups like Swiggy.
Accel's strategy focuses on investing in approximately 40 companies annually from a pool of around 300 emerging startups. The firm is particularly interested in wealthtech and AI-driven software companies, as well as opportunities in smaller towns and villages, which it refers to as "Bharat." This approach aims to tap into the significant spending power of the top income quintile in these areas.
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📱 Microsoft to spend $80 billion in FY’25 on data centers for AI
Microsoft plans to invest $80 billion in fiscal year 2025 to build data centers specifically designed for artificial intelligence (AI) workloads. More than half of this investment will be allocated in the United States. The new AI-enabled data centers aim to train AI models and deploy cloud-based applications globally. Microsoft Vice Chair Brad Smith emphasized that AI is set to drive innovation and productivity across various sectors.
Additionally, there have been discussions between Microsoft and OpenAI regarding a facility to house an AI supercomputer called Stargate, which could cost over $100 billion to construct. As the demand for AI technology grows, concerns about power shortages for data centers due to AI's high energy consumption are also anticipated.
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🫶 New ship, new year: SpaceX to deploy model Starlink satellites on next Starship launch
SpaceX is set to enhance its Starship test flight program with an upcoming launch that will deploy 10 model Starlink satellites. These simulators will mimic the size and weight of the next-generation V3 satellites, which are expected to significantly increase the Starlink network's capacity. The V3 satellites will have over 10 times the downlink and 24 times the uplink capacity compared to the previous V2 Mini satellites.
The launch will also showcase various upgrades to the Starship, including improvements to its propulsion system, avionics, and heat shield. Additionally, SpaceX aims to successfully "catch" the Super Heavy booster during this test, a feat they achieved in a previous launch. The deployment of the V3 satellites will mark a critical step in SpaceX’s plans to expand its satellite constellation using Starship, which can carry more payload than the Falcon 9 rocket currently in use.
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🔔 Cloudflare’s VPN app among half-dozen pulled from Indian app stores
More than half a dozen VPN apps, including Cloudflare's 1.1.1.1, have been removed from India’s Apple App Store and Google Play Store following government intervention. The Indian Ministry of Home Affairs issued orders for the removals, citing violations of Indian law. This action is part of the enforcement of a 2022 regulatory framework requiring VPN providers to maintain extensive records of users, including personal information and transaction histories.
The move has sparked backlash from major VPN providers, with some, like NordVPN and ExpressVPN, ceasing to market their services in India while still maintaining operations. This marks the first significant application of the new regulatory rules, which have raised concerns in the industry regarding privacy and compliance.
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🔄 Robinhood, already a ‘comeback’ stock, has even more aggressive plans for 2025
Robinhood CEO Vlad Tenev is celebrating the company's recognition as Yahoo Finance's "comeback stock" of the year after a tumultuous period following its 2021 IPO. The company plans to leverage a favorable regulatory environment anticipated with a potential second Trump administration, focusing on cryptocurrency and new trading strategies like copytrading and prediction markets.
Tenev highlighted the success of their recent presidential election market, which generated significant trading activity. Looking ahead, Robinhood aims to expand into event contracts related to various sectors, including politics and economics, potentially reshaping how users engage with financial markets.
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🔸 Elon Musk’s promises for Tesla in 2024, from robotaxis to Optimus bots
In 2024, Elon Musk made several ambitious promises for Tesla, despite a history of missed deadlines. Key highlights include:
1. $25,000 EV: Musk initially pledged to unveil a low-cost electric vehicle but later scrapped the idea, claiming it was "pointless." He indicated that future vehicles would focus on autonomy instead.
2. Cybercab Production: Musk announced plans to start production of the Cybercab, a robotaxi without traditional controls, by 2025 or 2026. He aims for a price under $30,000 and an operating cost of $0.20 per mile.
3. Robovan Development: A prototype Robovan is in development, although specific plans remain unclear.
4. Unsupervised FSD: Musk stated that Tesla would introduce an "unsupervised" Full Self-Driving (FSD) feature and a ride-hailing service in California and Texas by 2025.
5. Optimus Robots: Musk promised that Tesla would begin limited production of the Optimus humanoid robot in 2025, with over 1,000 units expected to be operational.
Overall, while Musk's promises are ambitious, the feasibility of these plans remains to be seen, especially given regulatory challenges and past delays.
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❕ ByteDance appears to be skirting US restrictions to buy Nvidia chips: Report
ByteDance, the parent company of TikTok, plans to invest $7 billion in Nvidia chips in 2025, despite U.S. restrictions on Chinese companies acquiring U.S. AI technology. The company is reportedly navigating these restrictions by using a loophole: instead of bringing the chips directly to China, ByteDance intends to store them in data centers located in other regions, such as Southeast Asia.
This approach allows them to technically comply with U.S. regulations while still gaining access to valuable AI chips. ByteDance also operates Doubao, a popular AI chatbot in China with 51 million active users.
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🔸 India’s mobile payments dilemma
India's payments regulator is poised to decide whether to limit the market share of major players like Walmart's PhonePe and Google Pay in the rapidly growing mobile payments sector. This decision revolves around the Unified Payments Interface (UPI), which has revolutionized digital transactions in India. Currently, PhonePe holds 47.8% and Google Pay 37.1% of UPI transactions, and a proposed rule would cap any company's share at 30%.
The uncertainty surrounding these regulations has complicated PhonePe's plans for an IPO, as the company fears potential market share reductions could impact its valuation. The regulator has delayed enforcing these limits multiple times, and the outcome could significantly affect fintech startups seeking to compete in the market. This situation reflects India's challenge in balancing innovation with regulatory oversight in the digital economy.
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⚡️ Trump asks Supreme Court to pause imminent TikTok ban
Donald Trump's attorneys have requested that the Supreme Court pause an impending ban on TikTok, which requires its owner, ByteDance, to sell the app or face a ban in the U.S. set for January 19. The request comes just before Trump's inauguration and claims this timing disrupts his ability to manage foreign policy. Trump's lawyers argue that he has the expertise to negotiate a resolution that addresses national security concerns while preserving the platform.
The law, known as the Protecting Americans from Foreign Adversary Controlled Applications Act, has been challenged by ByteDance on constitutional grounds. Supporters of the ban cite national security threats from potential data collection by the Chinese government, while civil liberties groups have expressed concerns about free speech and the lack of credible evidence of harm from TikTok.
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🔹 Lyft says San Francisco overcharged it $100M in taxes
Lyft is suing San Francisco, claiming the city overcharged it more than $100 million in taxes over five years. The lawsuit alleges that San Francisco incorrectly categorized revenue earned by Lyft drivers as company revenue. Lyft argues that its drivers are customers, and the revenue should reflect fees paid by drivers rather than charges from riders.
This legal action is part of an ongoing debate regarding the classification of gig economy workers, particularly after the California Supreme Court upheld Proposition 22, allowing companies like Lyft to classify drivers as independent contractors without providing full employee benefits.
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🔸 AI sales rep startups are booming. So why are VCs wary?
AI sales development representative (SDR) startups are experiencing rapid growth by using large language models for automated outreach. Despite their success, venture capitalists (VCs) are cautious about investing in this sector. Concerns focus on the sustainability of growth and the risk of established companies like Salesforce and HubSpot leveraging their customer data to outperform these startups.
While small and medium-sized businesses are eager to adopt AI SDRs to address declining response rates in cold emails, doubts remain about the long-term effectiveness of these tools in generating actual sales. VCs question whether the current excitement will lead to lasting adoption or if these startups will fade like other fleeting AI trends.
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💠 Onyx Motorbikes is back, one year after its owner died leaving the company in shambles
Onyx Motorbikes is making a comeback one year after the sudden death of its owner, James Khatiblou, which left the company in turmoil with unfulfilled orders and significant debts. Tim Seward, the original founder, announced the brand's revival on LinkedIn, expressing excitement about returning to business with new backing. Initially, the company plans to sell about 100 RCR electric dirt bikes, though it's unclear if these are new units or part of previously produced stock.
Khatiblou’s death created a complex situation, as he left no will or succession plan, halting operations and complicating financial matters. Creditors, including Oxygen Funding, are still pursuing claims against the estate, with ongoing legal issues regarding control of the company's assets. It's uncertain how the revived company will address these debts or if other stakeholders, like Kenneth Ames and Troy Smith, will be involved in its future.
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🔔 Juniper Ventures spins out of Climate Capital to invest in synthetic biology for the climate
Juniper Ventures has spun out from Climate Capital to focus on investing in synthetic biology aimed at addressing climate challenges. Founding partners Michael Luciani and Jennifer Kan recognized a gap in climate tech funding, noting that many investments have been concentrated in energy and transportation, which contribute less than half of carbon emissions.
Juniper's first fund, totaling $10.6 million, is oversubscribed and will invest between $100,000 and $500,000 in early-stage companies, particularly those commercializing scientific research. Early investments include California Cultured, which produces sustainable coffee and chocolate through plant cell cultivation, and Cache DNA, focused on efficient DNA and RNA storage. The firm aims to position itself as a leader in climate biotechnology, addressing critical sectors like industrials, agriculture, and materials.
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🔺 Venture capitalists continue to play musical chairs
In 2024, there has been a notable trend of venture capitalists changing firms or starting their own ventures, a departure from the traditionally stable nature of the industry. Key movements include:
- Michelle Volz left Andreessen Horowitz to pursue new opportunities.
- Matt Miller, a longtime Sequoia partner, is launching his own firm focused on European startups.
- Bilal Zuberi departed from Lux Capital after a decade to partner with early-stage founders.
- Alex Taussig and Nicole Quinn transitioned from partner roles at Lightspeed Venture Partners to board positions.
- Sriram Krishnan left Andreessen Horowitz for a senior role in the incoming Trump administration.
This reshuffling reflects broader changes within the venture capital landscape, with many investors seeking new roles or launching their own firms, signaling a dynamic environment in venture funding. The article tracks these movements and their implications for the industry.
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🔻 Nvidia unveils $2,000 RTX 5090 GPU
Nvidia has unveiled its new RTX 5090 GPU during CES 2025, priced at $2,000. This GPU features 92 billion transistors, 4,000 AT TOPS, 380 ray-tracing TFLOPS, and 1.8 TB/s bandwidth, promising to outperform its predecessor, the RTX 4090, by up to 2x. The RTX 5090 is part of the Blackwell family, which aims to enhance gaming and creative applications through AI-driven rendering technologies.
In addition to the RTX 5090, the lineup includes the RTX 8050, 5070 Ti, and 5070, priced at $999, $749, and $549, respectively. Laptops equipped with these GPUs will start at nearly $3,000 and will be available beginning in March. Nvidia's CEO, Jensen Huang, emphasized the GPU's role in revolutionizing graphics technology, likening it to past innovations in computer graphics.
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🚨 OpenAI is losing money on its pricey ChatGPT Pro plan, CEO Sam Altman says
OpenAI CEO Sam Altman revealed that the company is currently losing money on its $200-per-month ChatGPT Pro plan due to higher-than-expected usage. Despite raising around $20 billion since its inception, OpenAI is not profitable, projecting losses of about $5 billion against $3.7 billion in revenue for the previous year. Operational costs, including staffing and AI training, contribute to these losses, with expenses for ChatGPT reaching approximately $700,000 daily.
As OpenAI seeks to attract new investments through corporate restructuring, it may consider increasing subscription prices to achieve profitability. The company optimistically projects its revenue could reach $100 billion by 2029.
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🔺 Lyft will credit NYC riders for congestion fee throughout January
Lyft will credit New York City riders for the new congestion fee throughout January 2025. This fee, aimed at reducing traffic in lower Manhattan and funding mass transit, charges $1.50 per ride for services like Lyft and Uber during peak hours, in addition to an existing $2.75 fee for rides that begin, end, or pass through Manhattan below 96th Street.
Lyft's credits can be used for future rides or Citi Bike rentals, which the company describes as a gesture to help users adjust to this new expense.
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⚠️ Generative AI funding reached new heights in 2024
In 2024, funding for generative AI reached unprecedented levels, totaling $56 billion across 885 deals, a 192% increase from 2023's $29.1 billion. Major investments included Databricks' $10 billion Series J and OpenAI's $6.6 billion round. Despite a surge in funding, concerns about market saturation and sustainability arise, as many startups focus on similar verticals.
The U.S. dominated this investment landscape, attracting the majority of funds, while notable international players like Moonshot AI and Mistral also secured significant backing. Looking ahead, experts warn that technical challenges and high operational costs may hinder less-funded startups, especially as investor scrutiny on revenue growth intensifies. The infrastructure layer of generative AI, including data center startups, continues to thrive amid rising demand.
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⚡️ Peter Thiel-backed venture debt firm Tacora raises $268.7M for new fund
Tacora Capital, a venture debt firm backed by Peter Thiel, has raised $268.7 million for its second fund. This follows an inaugural fund that raised about $350 million in 2022, which included a significant investment from Thiel. While it’s unclear if Thiel participated in this latest round, Tacora’s CEO, Keri Findley, noted the new fund aims to address demand for flexible financing solutions.
Tacora specializes in providing loans to startups, particularly in capital-intensive sectors like fintech and hardware, allowing founders to secure funding without diluting equity. The firm focuses on lending against strong assets to mitigate the risks associated with venture debt.
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❗ Accel closes $650 million for new India fund
Accel has raised $650 million for its eighth India fund, marking a significant expansion of its investment strategy in the South Asian market. This fund follows its previous one from March 2022. Accel has a strong track record in India, having invested in notable companies like Flipkart and Swiggy.
The firm aims to capitalize on the evolving Indian startup landscape, which has seen increased public listings and a focus on rural markets. Accel remains one of the few Silicon Valley firms that maintains its Indian unit, contrasting with competitors like Sequoia and Matrix, who have separated their India operations.
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🚨 A Waymo robotaxi and a Serve delivery robot collided in Los Angeles
On December 27, 2024, a Waymo robotaxi collided with a Serve delivery robot in West Hollywood, Los Angeles. Video footage shows the Serve bot attempting to navigate onto a sidewalk when it was struck by the Waymo vehicle, which was making a right turn. Despite claims that the Serve robot may have run a red light, this was not confirmed by the footage.
Waymo stated that its Driver system recognized the delivery robot as an inanimate object and acted defensively, applying hard brakes before the low-speed collision at 4 mph. Fortunately, neither vehicle was damaged, and they continued on their way shortly after.
This incident marks the first collision between a Serve robot and a robotaxi, with Serve confirming that its bot was under remote supervision at the time. Both companies are discussing ways to prevent similar incidents in the future, although specific liability details for future collisions remain unclear.
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🔸 From AI agents to enterprise budgets, 20 VCs share their predictions on enterprise tech in 2025
In a recent discussion, 20 venture capitalists shared their predictions for enterprise technology in 2025. Despite the hype around AI, many enterprises have been slow to adopt it due to budget constraints and the experimental nature of the technology. Key trends to watch include increased AI adoption driven by better data, modernization of code for cloud applications, and the rise of automation in traditionally high-cost sectors.
Investors are particularly interested in areas such as enterprise resilience, data sovereignty, and task-specific AI models. They anticipate that enterprises will increase their tech budgets, especially for AI and cybersecurity solutions. The conversation also highlighted the importance of time-to-first-value (TTFV) as a metric for implementation ease.
Looking ahead, VCs expect a shift towards technology that creates enterprise value while reducing friction. The exit environment is predicted to see increased M&A activity as companies seek AI capabilities, although the IPO market may remain cautious. Overall, optimism for tech spending and AI adoption is prevalent among investors.
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⚙️ Nvidia’s next move: powering humanoid robots
Nvidia is set to deepen its involvement in robotics in 2025 by launching a new generation of compact computers for humanoid robots called Jetson Thor. This initiative is part of a long-term strategy to support the vast number of robot manufacturers globally, rather than directly competing with companies like Tesla.
The push is driven by advancements in generative AI models and the ability to train robots in simulated environments. Nvidia's efforts come amid significant customers, such as Amazon and Google, working to reduce their reliance on Nvidia's AI chips by developing their own technologies.
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⚙️ Google CEO says AI model Gemini will be the company’s ‘biggest focus’ in 2025
In a recent strategy meeting, Google CEO Sundar Pichai highlighted that the AI model Gemini will be the company's primary focus in 2025, calling the year "critical" for Google. Pichai emphasized the urgency for the company to accelerate its AI efforts to remain competitive, acknowledging that they need to catch up in this area.
He described the Gemini app as having strong momentum but noted that scaling it for consumers will be a significant priority for the coming year.
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❕ Cyber firm’s Chrome extension hijacked to steal user passwords
Cyberhaven, a data-loss prevention startup, reported that hackers hijacked its account to publish a malicious update to its Chrome extension, which could steal user passwords and session tokens. This incident, occurring on December 25, is suspected to be a supply-chain attack. Cyberhaven confirmed the breach and removed the compromised extension from the Chrome Web Store soon after detecting the attack.
They advised affected customers to revoke and rotate all passwords and review logs for any malicious activity. The company is cooperating with federal law enforcement and has engaged an incident response firm, Mandiant, to investigate the breach. It appears that this attack may be part of a larger campaign targeting multiple Chrome extension developers.
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🚨 Executive assistants, high salaries, and other ways early-stage founders will trigger a seed VC
VC Jenny Fielding sparked discussion on X by questioning the necessity of executive assistants (EAs) for pre-seed founders, suggesting that many founders still misunderstand cash management from the funding boom of 2020-2021. She emphasizes that in the early stages of a startup, when revenue is limited, founders should focus on product development rather than hiring support staff.
Fielding notes that while VCs allow founders some discretion in spending, they closely monitor cash management, especially as it affects future funding opportunities. She identifies roles like COO and CFO as potential red flags, arguing they can be unnecessary and costly at this stage. Fielding advises that reasonable salaries for founders should be between $85,000 and $125,000, cautioning against high salaries that quickly deplete raised funds. Overall, she stresses the importance of financial prudence for early-stage startups.
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🚨 GV, the VC team backed by Google, has a broad remit, but it can’t do one thing
GV (formerly Google Ventures), a venture capital firm funded entirely by Google, which has invested over $10 billion in approximately 800 companies in its 15-year history. Led by CEO David Krane, GV operates with significant autonomy, primarily focusing on financial returns without many restrictions. However, one notable limitation is that GV does not actively recruit Google employees to start companies that it can fund.
Krane mentions that while GV has a broad investment scope, it has historically focused on U.S. companies and has divided its efforts between life sciences and digital sectors. The firm has successfully navigated its relationship with Alphabet’s growth-stage investment arm, CapitalG, by maintaining open communication to avoid conflicts.
GV does invest in startups that compete with Google, contrary to an earlier assumption. Overall, the firm aims to support transformative products while also acknowledging that some Google employees may eventually leave to pursue entrepreneurial ventures, which GV may then consider funding.
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📱 Pavel Durov says Telegram is now profitable
Telegram founder Pavel Durov announced that the messaging app is now profitable, with total revenue exceeding $1 billion in 2024. The platform has gained 12 million paid subscribers since launching its premium subscription service in 2022 and holds over $500 million in cash reserves, excluding crypto assets.
Durov noted that Telegram has repaid a significant portion of its $2 billion debt issued over the past four years. The company aims to go public in the future and has introduced various features for businesses, an ad revenue sharing service, and a mini app store to enhance monetization. With more than 950 million monthly active users, Telegram continues to expand its offerings while achieving financial stability.
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🔺 Elon Musk’s xAI lands $6B in new cash to fuel AI ambitions
Elon Musk's AI company, xAI, has secured $6 billion in new funding, bringing its total raised to $12 billion. This latest round attracted notable investors, including Andreessen Horowitz, Blackrock, and Nvidia, and was restricted to previous backers. xAI aims to reach a valuation of $50 billion, double its earlier valuation.
Founded last year, xAI launched its generative AI model, Grok, which features a distinctive approach to answering questions and is integrated into X (formerly Twitter). Grok is designed to be less "politically correct" than competitors like ChatGPT.
xAI plans to utilize data from Musk’s various companies, including Tesla and SpaceX, to enhance its models, and is already providing customer support for Starlink. However, Musk faces criticism from Tesla shareholders over potential conflicts of interest. Despite these challenges, xAI is rapidly expanding, aiming to compete with major players in the AI space, and plans to raise more funds in the future.
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