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Here’s what you need to know today in startup and venture news, updated by the ¸½½üÉÏÃÅ News staff throughout the day to keep you in the know.

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Drata raises $100M at $1B valuation

San Diego-based , a developer of security and compliance automation technology, announced that it raised $100 million in Series B funding.

led the financing, setting a valuation around $1 billion for Drata, which made its public launch in January. To date, the company has built a team of 70 full-time employees and plans to triple in size in the next year.

In securing its Series B just 16 months since incorporation, Drata says it is one of the fastest SaaS companies to hit a $1 billion valuation.

— Joanna Glasner

H20.ai lands $100M

Mountain View, California-based , which describes itself as an AI cloud company, announced it raised $100 million in a Series E funding led by Australia’s largest bank, . To date, H2O.ai has now raised over $250 million and with the latest round is valued at $1.7 billion.

— Joanna Glasner

Matter Labs raises $50M Series B

Berlin-based blockchain startup closed a $50 million Series B led by . The company has developed a new Ethereum scaling solution that allows traffic to be moved from the central Ethereum blockchain to other chains, making transactions faster and cheaper.

Matter Labs previously raised a $6 million Series A in February, the company says. The blockchain and crypto market has seen strong interest from venture firms this year, with Andreessen Horowitz lead among them.

— Chris Metinko

Funding round

Dispelix raises $33M: , a Finnish startup focused on waveguide display technology used in augmented reality, reportedly in a Series B funding round led by .

— Joanna Glasner

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