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Issue #55: Everyday AI

Issue #55: Everyday AI

Author

Upside Team
March 07, 2025

Supported by:

Early Stage Investors

Good morning. This week we're looking at some seriously cool and dare we say “pleasant” interactive AI technology coming out of Sesame and announcing some impressive investments into companies building in two of the hottest sectors: AI and Defense. Let’s dive right in!

Spotlight

Sesame comes out of stealth

Credit: sesame.com

Sesame’s impressive voice transformer model

Sesame: Building the Future of Voice-Activated Companions

Sesame is a pioneering startup focused on integrating voice-powered AI companions into daily life. Founded by industry veterans, including Oculus co-founder Brendan Iribe, the company has developed "Maya," an advanced voice assistant offering engaging and natural conversations. Sesame's flagship product is lightweight, high-quality eyewear designed to provide users with continuous access to their AI companion, enhancing daily activities through seamless interaction.

Key Highlights:

  • Innovative Voice Assistant: Maya delivers context-aware and responsive interactions, making conversations feel more human-like compared to traditional AI assistants. ​

  • Wearable Technology: The eyewear is designed for all-day wear, offering high-quality audio and convenient access to the AI companion, allowing it to observe and interact with the world alongside the user.

  • Funding and Investment: Sesame successfully raised an undisclosed amount of capital from investors such as Andreessen Horowitz, Spark Capital, and Matrix Partners.

  • Commercial Success: The company has garnered attention for its innovative approach, with media outlets like The Verge highlighting Maya as a standout in the voice assistant market. Sesame's products aim to redefine user interaction with technology, blending seamlessly into daily routines and enhancing productivity.​

Sesame's mission is to build an always-present digital companion, supporting users in their everyday activities—from managing schedules to providing real-time assistance. By combining sleek, wearable technology with advanced voice recognition, Sesame is pushing the boundaries of human-computer interaction, making technology feel more natural and intuitive.

Quick Bites

Shield AI snags $240M to advance its drone tech

Shield AI, a deep-technology company with the mission of protecting service members and civilians with intelligent, autonomous systems, raised $240M at a $5.3B valuation, making it the second largest privately held defense startup in the U.S. Strategic investors L3Harris and Hanwha Aerospace led the round with participation from existing investors including Andreessen Horowitz, U.S. Innovative Technology, and Washington Harbour. The funds will enable Shield AI to expand the deployment of Hivemind Enterprise to OEMs, governments, and companies to empower the larger robotics and drone industrial base to build autonomy products.

Grain grabs $50M and comes out of stealth

Grain, a Tel Aviv-based startup, has emerged from stealth with $50 million in funding to launch its AI-driven foreign exchange (FX) optimization and hedging platform. The funding includes a $33 million Series A led by Bain Capital Ventures, following an earlier $18 million seed round. Grain’s technology integrates into B2B platforms, marketplaces, and payment providers to help businesses mitigate currency risks and optimize FX pricing for cross-border transactions. Currently processing over $1 billion in annual transactions, the company plans to expand into industries such as travel and payments while doubling its workforce. CEO Dor Golan emphasized Grain’s mission to turn FX volatility into a competitive advantage for global businesses.

Flex finds $25M to build the Brex for business owners

​Flex, a Miami-based provider of back-office business software, has raised $25 million in equity funding at a valuation of just under $250 million. The funding round was led by Titanium Ventures, with participation from Companyon Ventures, Florida Funders, MS&AD Ventures, AAF Management, and First Look Partners. Additionally, Flex secured $200 million in debt financing.

Abstract attains $4.8M in new funding

Abstract, an artificial intelligence company developing the first regulatory super-intelligence platform, raised $4.8 million in seed funding co-led by Bonfire Ventures and Communitas Capital with participation from existing investors Motivate Ventures. This latest investment brings Abstract’s total funding to more than $9 million. Abstract’s platform combines disparate data elements – such as from draft legislation, public comments, and regulatory discussions -- to deliver peak intelligence and context. Abstract enables users to proactively flag legislative risks and opportunities relevant to their business, unlock broad insights through news and social media channels, and distill relevant, cross-jurisdictional trends in policy.

Startup Shutdown Of The Day :(

Level gets leveled

Level, a startup focused on modernizing employee benefits, abruptly ceased operations on Thursday after failing to secure a buyer. The shutdown, first reported by The Information, has left clients scrambling to find alternatives.

Founded in 2018 by Paul Aaron, the New York-based company aimed to revolutionize the insurance space by offering flexible networks and real-time claims processing. Level positioned itself as a forward-thinking benefits provider, helping employers and employees optimize their benefits spending.

The company gained momentum in 2021 when it secured $27 million in Series A funding from Khosla Ventures and Lightspeed Venture Partners. With this backing, Level introduced customizable benefit plans, including 100% coverage for select treatments and rapid claims processing within four hours.

Following the shutdown, Level urged clients to inform their employees and pledged to provide referrals to other benefits providers to help ease the transition.

The closure underscores the difficulties fintech startups face when trying to disrupt well-established industries like insurance. Despite its innovative approach, Level ultimately could not overcome the financial and market challenges that led to its downfall. (TechStartups)

Mental health tech is the new must-have investment.

SoundSelf is redefining how people experience relaxation and mental clarity. This immersive wellness tech combines sound, light, and biofeedback to create meaningful shifts in just minutes. You can own a piece of the future of wellness tech for as little as $100.

Read the Offering information carefully before investing. It contains details of the issuer’s business, risks, charges, expenses, and other information, which should be considered before investing. Obtain a Form C and Offering Memorandum at https://wefunder.com/soundself

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