Meet the startup taking on Nvidia

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Hello, and welcome back to Equity, the podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.

This is our startup-focused Wednesday episode, so today we’re counting down important venture rounds and chatting our way through other startup and VC news. We had a lot of material to chew on, so we tried to fit in as much as we could!

Here’s the rundown:

• Plex raises $40 million, targets profitability: The media streaming company thinks that it can get into the black by the end of this year, or early 2025. Not bad for a very expensive industry.
• Rebellions raises $124 million to take on Nvidia: Which company is designing new AI chips and has partnered up with Samsung? Rebellions. And as if that were not enough, the company is now also quite a lot richer thanks to a new nine-figure round.
• Nile is building a new data system for SaaS: Multi-tenancy is tricky, but why should SaaS companies have to reinvent the wheel?
• Aurora Solar joins the layoff parade: Solar is booming, but that doesn’t mean vertical SaaS companies in the space are growing as fast as they planned.
• And on the venture front, Giant Ventures has raised $250 million for two funds; Poland’s SMOK Ventures closed a new $25 million vehicle; and Ubiquity Ventures proves that solo GPs are not dead yet.