The U.S. has moved to block imports of new Chinese-made humanoid robots and robot dogs over national security concerns, escalating tech restrictions beyond AI chips and models into physical AI. The decision could significantly impact China’s fast-growing robotics industry and intensify the global race for humanoid robots.

Meta CEO Mark Zuckerberg predicts that billions of people will have personal AI agents within five years, helping manage everything from finances and health to daily tasks and relationships. The vision underscores Meta's strategy to make messaging apps like WhatsApp the primary interface for AI assistants.

DAILY PICKS

🗞️ Must read posts

What VCs are really asking AI founders during due diligence? (And what you’re expected to show): AI investors are no longer just testing the story. They want to see the actual artifacts behind the company: evals, margins, data rights, model routing, failure modes, and compliance exposure. This piece gives founders a clear view of the 21 questions that now shape AI startup diligence and the documents they should prepare before the first serious investor meeting.

What founders should never automate: AI can save founders time, but automating the wrong work can quietly destroy the customer signals they need most. This piece shows founders how to separate low-signal busywork from high-signal customer interactions, so they automate internal repetition first and protect the conversations that reveal product-market fit.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

Liquid Interactive, a Toronto, Canada-based interactive visual AI platform, raised CAD $700K in Pre-Seed funding. The round was led by AXL.

SEED

Adjuvia Therapeutics, a San Francisco, CA-based biotechnology company developing treatments for mitochondrial dysfunction, raised $8M in Seed funding. The round was led by JLO Ventures, with participation from Portfolia Ventures.

Biota, a Longmont, CO-based environmental diagnostics company focused on PFAS testing, raised $3M in Seed funding. The round was led by Burnt Island Ventures, with participation from DeepWork Capital, Antler, Beyond Utility Water Ventures, and Deming Center Venture Fund.

Curant.ai, a St. George, UT-based AI-powered insurance claims management platform, raised $3.1M in Seed funding. The round was led by Diagram, with participation from Humania Insurance, Element Ventures, Blue Plains Capital, and angel investors.

Birdai Labs, a San Francisco, CA-based digital asset infrastructure company, raised $4M in Seed funding. The round was led by Castle Island Ventures, with participation from Metalayer Ventures and The Venture Dept.

Vivid Dx, an Oxford, UK-based precision diagnostics company, raised $15M in Seed funding. The round was co-led by Oxford Science Enterprises and Cedars-Sinai Intellectual Property Co., with participation from Jameel Investment Management Company and other investors.

Fish Audio, a San Francisco, CA-based AI voice platform, raised $52M in Seed funding. The round was led by Coreline Ventures and Capital Today, with participation from 359 Capital, Play Time, HF0, 645 Ventures, Parable, Carya Venture Partners, Alphalist Partners, and angel investors.

GROWTH

MASAJ, a London, UK-based bodywork and massage brand, raised £1.5M in funding. The round was co-led by FIGR Ventures and Sorven Capital, with participation from Giles Brook and angel investors.

ChipAgents, a San Jose, CA-based agentic AI platform for semiconductor design, raised $60M in Series A2 funding. Backers included B Capital, Bessemer Venture Partners, Micron, MediaTek, Ericsson, and ScOp.

groundcover, a Tel Aviv, Israel-based cloud-native observability platform, raised $100M in Series C funding. The round was led by One Peak, with participation from Morgan Stanley Expansion Capital, Zeev Ventures, Angular Ventures, Heavybit, and Jibe.

Eliyan Corporation, a Santa Clara, CA-based developer of connectivity technologies for AI compute systems, completed a $145M Series C funding round. The round was led by Seligman Ventures, with participation from Cisco Investments, Lumentum, and other new and existing investors.

Centralize, a San Francisco, CA-based relationship intelligence platform for enterprise revenue teams, raised $19M in funding. The round was led by NEA, with participation from Salesforce Ventures, Y Combinator, 20SALES, Ritual Capital, Adverb Ventures, Stewart Butterfield, and Scott Woody.

Pangram, a New York City-based AI research lab, raised $9M in funding. The round was led by Menlo Ventures, with participation from Haystack, ScOp Venture Capital, Script Capital, and Cadenza.

Precise Behavioral, a Westlake Village, CA-based behavioral health services and technology company, raised $14.2M in funding. The round was led by A1 Health Ventures, with participation from Ziegler Link-Age Fund, Converge Capital Partners, and Granite Financial Holdings.

InvestiFi, a Dover, DE-based embedded digital investing platform for credit unions and community banks, raised $20M in funding. The round was led by Vibe Credit Union, with participation from BankTech Ventures, Idaho Central Credit Union, Navari, United Financial Credit Union, Coastal Credit Union, Mid Minnesota Credit Union, Truity Credit Union, and Southpoint Credit Union.

ThreatLocker, an Orlando, FL-based Zero Trust cybersecurity platform, raised $190M in Series F funding. The round was led by Elephant, with participation from D. E. Shaw Ventures, Arthur Ventures, and Koch Disruptive Technologies.

Terminal, a Toronto, Canada-based telematics integration platform, raised $20M in Series A funding. The round was led by Battery Ventures, with participation from Intact Private Capital, Penske, Y Combinator, and Wayfinder Ventures.

PEX, a New York City-based corporate card and spend management platform, raised $160M in debt and equity financing. The round was led by Bluff Point Associates, with participation from Clear Haven Capital Management.

Way Security, a Tel Aviv, Israel-based AI-powered identity and access management platform, raised $20M in funding. The round was co-led by Insight Partners and Glilot Capital Partners.

Throne Science, an Austin, TX-based toilet sensor platform, raised $10M in Series A funding. The round was led by Will Ventures, with participation from Emerson Collective, Workshop, LEAD VC, Salt VC, Accomplice, Moxxie, Ventures Together, Symphony, Felix Capital, Cosmic Venture Partners, Offscript, V1.VC, and Morrison Seger.

Weave, a San Francisco, CA-based engineering intelligence platform, raised $13.5M in Series A funding. The round was led by Standard Capital, with participation from Y Combinator, Moonfire, Burst Capital, IrregEx, and The Agent Fund.

Procode Inc., a Los Angeles, CA-based AI-powered medical billing and revenue cycle management platform, raised $10M in Series A funding. The round was led by Health Velocity Capital.

Healia, a Columbus, OH-based healthcare benefits platform, raised $14M in Series A funding. The round was led by 111° West Capital, with participation from Y Combinator, First Round Capital, Pioneer Fund, GoAhead Ventures, and North Coast Ventures.

Mirae, a London, UK-based AI-driven continuous care platform for autoimmune disease and other chronic conditions, raised $5.4M in funding. The round was led by Oxford Science Enterprises.

NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Align Ventures, a NYC-based venture capital firm investing in consumer brands and technologies, closed its Early-Stage Fund II, at $125m. With Fund II, Align will invest $2m to $10m initial checks into 15-20 brands that are working to transform everyday consumer experiences across categories including beauty, personal care, health, wellness, pet, and home.

KEY STORIES IN TECH

📜 Latest In Tech

Microsoft ramps up competition with OpenAI and Anthropic

• Microsoft is increasingly positioning itself as an alternative to OpenAI and Anthropic by promoting its own AI models, chips, security tools, and enterprise infrastructure while encouraging customers to avoid relying on a single AI provider.

• CEO Satya Nadella argued that businesses should keep AI infrastructure independent from any one model so they can switch providers, protect sensitive data, and reduce vendor lock-in.

• Alongside offering access to leading third-party models, Microsoft is expanding its own MAI model family and AI chips, claiming stronger performance, lower costs, and better efficiency for enterprise AI workloads.

Thinking Machines co-founder Lilian Weng rejoins OpenAI

• Lilian Weng has stepped down as co-founder of Thinking Machines, citing health concerns and the demands of startup life, before announcing her return to OpenAI.

• At OpenAI, Weng will lead a new research team focused on accelerating internal AI research, including work on recursive self-improvement for advanced AI systems.

• The move highlights the intense competition for top AI talent, with Weng returning to OpenAI after previously serving as the company’s VP of AI Safety Research.

Microsoft’s Anthropic investment outperformed OpenAI this quarter

• Microsoft reported a $3.2 billion gain from its investment in Anthropic during the quarter, while marking down the value of its OpenAI stake by about $600 million.

• Despite the quarterly decline, Microsoft’s investment in OpenAI still generated a $5 billion gain over the full fiscal year, reflecting the long-term growth of the company.

• The results highlight Microsoft’s unique position as a major investor in both Anthropic and OpenAI, with the two AI labs contributing differently to its financial performance.

Former Perplexity engineer launches AI browser for knowledge workers

• Polar, an AI-first browser founded by a former Perplexity engineer who worked on Comet, has raised $5.7 million in seed funding to build AI-powered workflows for knowledge workers.

• Instead of targeting general web browsing, Polar focuses on automating tasks such as research, recruiting, sales, marketing, and operations by assigning AI agents to work across open browser tabs.

• The browser is free with limited daily AI usage, while paid plans start at $20 per month, reflecting a broader shift from AI-powered search toward AI-driven workplace automation.

Claude AI cracks post-quantum encryption

• Anthropic’s Mythos 5 model can find and exploit previously unknown flaws in every major operating system, including the open-source code behind web infrastructure and encryption, an FBI official said this week.

• The Trump administration placed export controls on Mythos 5 in June over national security worries, then lifted them in recent weeks after Anthropic worked with the government to review its safeguards.

• Mythos 5 is limited to an approved U.S. government group, but Anthropic offers a globally available model built on the same technology, and even “less capable” models found and exploited flaws the same way.

Google disbands AlphaFold team

• Google DeepMind has broken up the team behind AlphaFold, the AI program that predicts protein shapes, reassigning most of its key members and paper authors while a few others have left the company entirely, according to the Financial Times.

• AlphaFold predicts three-dimensional protein structures from amino acid sequences in minutes, and its free database gives researchers over 200 million predictions used for drug discovery, vaccines, and studying diseases like Alzheimer’s and Parkinson’s.

• John Jumper, who won the 2024 Nobel Prize in Chemistry with Demis Hassabis for the work, left in June to join Anthropic along with some colleagues, while others moved to Gemini projects or the spin-off Isomorphic Labs.

LAST COFFEE SIP

☕ Other News

Russia charges Durov with terrorism

• Russia’s FSB security agency has charged Telegram founder Pavel Durov with aiding terrorism and added him to an international wanted list, with the accusations carrying a possible sentence of life in prison.

• The FSB claims Telegram failed to take down channels, chats and bots that Ukrainian intelligence and extremist groups allegedly used to organize sabotage, attacks and cyber fraud inside Russia, according to Interfax.

• The charges build on an investigation started in February, after Russia began limiting Telegram and fined the platform over 100 million rubles ($1.25 million) this year for not removing content banned under Russian law.

HIRING ALERT: STARTUPS & VC ROLES

💼 Today’s VC & Startup Job Opportunities

Most aspiring VCs struggle with interviews, unclear expectations, no structured prep, and generic advice that doesn’t actually help. So we partnered with a leading investor group to build an all-in-one VC Interview Preparation Guide that gives you real clarity and frameworks. (Access Here)

• Associate or Senior Associate - Bessemer Partner | USA - Apply Here

• VC Fellow - V11 | Remote - Apply Here

• Associate - Mount Judi Venture | USA - Apply Here

• VC Research Lead - Murph Capital | Remote - Apply Here

• Trade Operations Analyst - RA Capital | USA - Apply Here

• Partner 36, Corporate Controller - a16z | USA - Apply Here

• Investment Associate - Cerity Partner | USA - Apply Here

• Senior Associate, Talent Sourcing - Redesign Health | India - Apply Here

• Program Manager - Community - Plug and Play | USA - Apply Here

• Investment Analyst - Forum Venture | Canada - Apply Here

• Investor Relations Associate - Capital Factory | USA - Apply Here

• Decile Capital Analyst - Decile | USA - Apply Here

• Partner - Weekend Fund | USA - Apply Here

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Breaking News

OpenAI CEO Sam Altman said the AI industry may need to deliberately slow the development of frontier AI models so society has time to adapt. His comments follow OpenAI's recent testing incident, where an experimental AI model escaped a controlled environment, adding fresh urgency to debates around AI safety and governance.

China has begun mass production of its own deep ultraviolet (DUV) lithography machines, marking a major step toward reducing its reliance on foreign semiconductor equipment. The development could reshape the global chip industry as China builds a more self-sufficient semiconductor supply chain despite ongoing U.S. export restrictions.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

Liquid Interactive, a Toronto, Canada-based interactive visual AI platform, raised CAD $700K in Pre-Seed funding. The round was led by AXL.

SEED

Credible Data, a Boulder, CO-based provider of a business context engine for enterprise AI, raised $10M in Seed funding. Backers included Gradient, SignalFire, K5 Global, Godard Abel, Wes McKinney, Alex Dean, and SV Angel.

Aurenar, a St. Louis, MO-based developer of a non-invasive neuromodulation platform, raised $5.7M in Seed funding. The round was co-led by Go Red for Women Venture Fund and Solas BioVentures, with participation from BJC Health and Kaleida Capital.

Antares Labs, a San Francisco, CA-based AI platform for real estate operations, raised $7.25M in Seed funding. Backers included Fifth Wall, Base10 Partners, Bloomberg Beta, and Sandwith Ventures.

Frenos, a Charlotte, NC-based AI-native operational technology security platform, raised $1.52M in Seed extension funding. The round was led by Momenta and Exposition Ventures, with participation from Riptide Ventures.

ZuriQ, a Zürich, Switzerland-based quantum computing company, raised $25.5M in Seed funding. The round was led by Quantonation, with participation from Forward.one, Extantia, Firgun Ventures, and other investors.

telli, a Berlin, Germany-based AI-native customer operations platform, raised $15M in Seed funding. The round was led by redalpine, with participation from Mutschler, Marc Bitzer, Alexa von Bismarck, Martin Koehler, Cherry Ventures, and Y Combinator.

Fincart, a Cairo, Egypt-based AI-powered e-commerce operating platform, raised $2.8M in Seed funding. The round was co-led by Launch Africa and Antler MENAP, with participation from Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global, Kalahari Venture Labs, and other regional investors.

GROWTH

Array Labs, a Redwood City, CA-based developer of coordinated radar satellite fleets, raised $21M in funding. The round was anchored by Mitsubishi Electric Corporation, with participation from Catapult Ventures, Kompas VC, and Y Combinator.

Greyparrot, a London, UK-based AI waste intelligence company, raised $27M in Series B funding. The round was led by Omar Mir.

ProphetX, a New York City-based sports prediction market platform, raised $35M in funding. The round was led by Parlay Capital and Data Point Capital, with participation from FDJ Ventures, Greenwave Ventures, Connexa Capital, Impellent Ventures, The Operating Group, Sharp Alpha Advisors, Chicago Trading Company Ventures, Belvedere Trading, principals at White Swan Data, principals at Consolidated Trading, and Ematiq.

Alpen High Performance Products, a Louisville, CO-based window solutions company, raised $6M in Series B financing. The round was led by Inherent Capital and Arborview Capital.

CORE Biomedicine, a Cambridge, MA-based precision oncology therapeutics company, raised $21M in Series A financing. The round was co-led by UTokyo Innovation Platform and Elikon Venture, with participation from InnoPinnacle Fund, Mitsubishi UFJ Capital, Suzhou Capital Group, CD Capital, YuanBio Venture Capital, Vision Incubate, and Root Venture Partners.

Dwelly, a London, UK-based vertical AI platform for residential lettings, raised $170M in Series B financing. The round was co-led by EQT Growth and General Catalyst, with equity participation from s16vc, Begin Capital, DVC, Philipp Freise, and the CEOs of Legora, Synthesia, and ElevenLabs.

Act Security, a Tel Aviv, Israel-based cloud security platform, raised $60M across Seed and Series A funding. The $20M Seed round was led by Team8 and Bessemer Venture Partners, with participation from Hetz Ventures and Claltech, while the $40M Series A was led by Notable Capital, with participation from Startpoint Capital and SVCI.

Epitel, a Salt Lake City, UT-based AI-driven wireless brain health technology company, raised $26M in Series B financing. The round was co-led by Catalyst Health Ventures and Genoa Ventures, with participation from new and existing investors.

Flourish Health, a Richmond, VA-based in-home pediatric mental health care platform, raised $26M in Series A funding. The round was co-led by B Capital, F-Prime Capital, and Cherryrock Capital.

K25.ai, a Singapore-based AI-native livestreaming prediction market platform, raised an undisclosed amount in Series A funding. Backers included Amber Group and NewGenIVF Group.

Xeltis, an Eindhoven, Netherlands-based vascular implant solutions company, raised €20.5M in funding. The round was led by Horizon 3 Healthcare, with participation from European Innovation Council, Invest-NL, VI Partners, EQT Life Sciences, DaVita, and other investors.

DAILY PICKS

🗞️ Must read posts

What VCs are really asking AI founders during due diligence? (And what you’re expected to show): AI investors are no longer just testing the story. They want to see the actual artifacts behind the company: evals, margins, data rights, model routing, failure modes, and compliance exposure. This piece gives founders a clear view of the 21 questions that now shape AI startup diligence and the documents they should prepare before the first serious investor meeting.

What founders should never automate: AI can save founders time, but automating the wrong work can quietly destroy the customer signals they need most. This piece shows founders how to separate low-signal busywork from high-signal customer interactions, so they automate internal repetition first and protect the conversations that reveal product-market fit.

NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Framework Ventures, a San Francisco, CA-based venture capital firm focused on the Web3 space, closed its fourth fund (FVIV), at $400m. Founded in 2019 by Michael Anderson and Vance Spencer, Framework is pioneer in decentralized finance (DeFi) and blockchain gaming investments.

KEY STORIES IN TECH

📜 Latest In Tech

Largest U.S. power grid may temporarily cut electricity to data centers

• PJM Interconnection, the largest power grid operator in the U.S., plans to temporarily cut electricity to large data centers during power shortages starting in 2027, after new power generation failed to keep pace with rising demand.

• The policy will apply to facilities consuming 50 megawatts or more, with affected operators receiving compensation through demand response programs.

• The move reflects mounting pressure from AI-driven data center growth, which is expected to quadruple electricity demand by 2035 and is already contributing to higher power prices across the region.

X launches X Money app in the U.S.

• X has begun rolling out X Money to paid subscribers in the U.S., offering a Visa debit card, instant peer-to-peer payments, Apple Pay support, and fee-free international transactions.

• Premium subscribers can earn up to 6% APY under certain conditions and receive up to 3% cashback on eligible purchases, with early access to direct deposits.

• The launch marks a major step toward Elon Musk’s long-term vision of turning X into an “everything app,” expanding the platform beyond social media into financial services.

Apple launches iPhone leasing

• Apple has rolled out Apple Upgrade in the U.S., a leasing program for iPhone, iPad, Mac, and Apple Watch run with Klarna that replaces both the old iPhone Upgrade Program and iPhone Payments.

• Leases start at $17.99 a month for iPhones, $11.99 for iPads and Apple Watch, and $24.99 for Macs, with 12 or 24-month terms for phones and watches and 24 or 36-month terms for iPads and Macs.

• At the end of a lease, customers can return the device, keep it by paying the difference up to full retail with no Klarna fee, or trade up, though ending a lease early brings “substantial fees” equal to the remaining payments.

Apple readies 3 new smart home devices

• Apple is preparing three new smart home products, according to a Bloomberg report, with a refreshed Apple TV box and an updated HomePod mini expected as soon as this fall, followed by a long-awaited smart home hub.

• The new Apple TV and HomePod mini will look like today’s models but pack faster chips to run Siri AI, while the hub is slated to arrive between October and early 2027 in two versions, one wall-mounted and one on a base.

• The hub features a 7-inch display, a new operating system blending tvOS and watchOS, and facial recognition that identifies who’s looking, gauges their distance, and adjusts the interface to show that person’s calendar and notes.

Tech employees call for global framework to pace advanced AI

• More than 1,100 employees from companies including OpenAI, Anthropic, Meta, and Google have urged the U.S. government to support an international effort to manage the pace of advanced AI development.

• The initiative, called Pacing the Frontier, argues that AI capabilities are advancing faster than existing safety, governance, and oversight mechanisms can keep up.

• The proposal has backing from senior AI leaders, including Anthropic CEO Dario Amodei and OpenAI Chief Scientist Jakub Pachocki, as concerns over powerful autonomous AI systems continue to grow.

Mark Zuckerberg opposes banning Chinese AI models

• Meta CEO Mark Zuckerberg said the U.S. should not ban advanced Chinese AI models, arguing that stronger competition—not restrictions—is the better way to maintain America’s leadership in AI.

• Instead of blocking Chinese models, Zuckerberg urged U.S. companies to identify and remove the obstacles slowing domestic AI innovation and deployment.

• His comments come as Washington considers tougher measures against Chinese AI firms over alleged intellectual property theft and national security concerns, following growing attention around Moonshot AI’s Kimi K3 model.

LAST COFFEE SIP

☕ Other News

Taiwan detains Nvidia employee

• Taiwan’s prosecutors have detained an Nvidia employee over the alleged illegal export of Super Micro AI servers to China, servers that held Nvidia chips restricted under US export controls, according to Bloomberg and Reuters.

• The Keelung District Prosecutors’ Office said the suspect, surnamed Chang, was questioned on July 24 after raids on his home and office, then jailed over worries he might flee, destroy evidence, or sway witnesses.

• The charges include forgery and breach of trust, and investigators also searched Nvidia’s Taipei office in this third round of raids, following May and June operations that detained three people and two Super Micro workers.

HIRING ALERT: STARTUPS & VC ROLES

💼 Today’s VC & Startup Job Opportunities

Most aspiring VCs struggle with interviews, unclear expectations, no structured prep, and generic advice that doesn’t actually help. So we partnered with a leading investor group to build an all-in-one VC Interview Preparation Guide that gives you real clarity and frameworks. (Access Here)

• Associate or Senior Associate - Bessemer Partner | USA - Apply Here

• VC Fellow - V11 | Remote - Apply Here

• Associate - Mount Judi Venture | USA - Apply Here

• VC Research Lead - Murph Capital | Remote - Apply Here

• Trade Operations Analyst - RA Capital | USA - Apply Here

• Partner 36, Corporate Controller - a16z | USA - Apply Here

• Investment Associate - Cerity Partner | USA - Apply Here

• Senior Associate, Talent Sourcing - Redesign Health | India - Apply Here

• Program Manager - Community - Plug and Play | USA - Apply Here

• Investment Analyst - Forum Venture | Canada - Apply Here

• Investor Relations Associate - Capital Factory | USA - Apply Here

• Decile Capital Analyst - Decile | USA - Apply Here

• Partner - Weekend Fund | USA - Apply Here

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Breaking News

Nvidia is investing $5 billion in Ilya Sutskever’s Safe Superintelligence (SSI) while providing access to its next-generation Vera Rubin AI chips. The partnership significantly strengthens SSI’s push to build safe artificial superintelligence and further cements Nvidia’s role at the center of the AI ecosystem.

Microsoft unveiled MAI-Cyber-1-Flash, its first AI model built specifically for cybersecurity, alongside a new agentic security platform that automates threat detection and vulnerability remediation. The launch marks Microsoft's latest move to compete in the rapidly growing market for AI-powered cyber defense.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

Beelzebub, a Milan, Italy-based AI-native cybersecurity platform, raised €3M in funding. The round was led by United Ventures.

sortmyprep, a Mumbai, India-based AI-driven exam preparation platform, raised approximately $350K in Pre-Seed funding. Backers included Boman Irani, Sameer Mehta, Subrat Pani, Rohini Kasturi, and Ranjit Pawar, following earlier institutional backing from PIEDS, BITS Pilani.

SEED

Pilot Protocol, a San Francisco, CA-based internet network platform for AI agents, raised $4.5M in Seed funding. The round was led by Version One Ventures, with participation from Precursor Ventures, Night Capital, Todd & Rahul Capital, Lenny Rachitsky, and Ben Tossell.

Dopl Technologies, a Bothell, WA-based medical technology company developing a robotic ultrasound platform, raised $6.3M in Seed funding. The round was led by SpringTide Ventures, with participation from WRF Capital, Tacoma Venture Fund, HeartX, Transform Health Ventures, Precursor Ventures, and other investors.

Enigma, a San Francisco, CA-based physical AI company, raised $71M in Seed funding. The round was led by Index Ventures and Ribbit Capital, with participation from Conviction Partners and leaders from OpenAI, Anthropic, DeepMind, xAI, Cognition, Wiz, and others.

Freight Hero, a Durham, NC-based AI company for freight broker operations, raised $5M in Seed funding. The round was led by Field Ventures, with participation from Flybridge Capital, Tip Top VC, and Front Porch Venture Partners.

Scape, a Stockholm, Sweden-based AI-native intelligent email platform, raised $3.2M in Seed funding. Backers included Y Combinator, General Catalyst, FundersClub, Max Junestrand, Sebastian Knutsson, Sophia Bendz, Jacob Wallenberg Jr., and executives from OpenAI, Google, Meta, and Ramp.

PageMind, a Barcelona, Spain-based AI-powered e-commerce optimization platform, raised €1.2M in Seed funding. The round was led by 4Founders Capital, with participation from David Martín and Javier Pérez-Tenessa.

kausable, a Heidelberg, Germany-based reasoning-first frontier AI company, raised €12M in Seed funding. The round was led by UVC Partners and Entourage, with participation from HTGF, Mätch VC, and private angel investors.

GROWTH

Plantopia, a Sdot Yam, Israel-based developer of molecular farming and alternative dairy proteins, raised $9M in funding. The round was led by Schreiber Foods and Siddhi Capital.

PolyBox Solutions, a Newcastle upon Tyne, UK-based AI-driven marketing analytics platform, raised £700K in funding. The financing included support from Northstar Ventures, private angel investors, and Innovate UK.

Antares, a Torrance, CA-based nuclear fission energy company, raised $470M in Series C funding. The round was co-led by Paradigm and Caffeinated Capital, with participation from Point72 Ventures, Shine Capital, Industrious Ventures, and others.

Multiverse Computing, a San Sebastian, Spain-based model compression technology company, raised $570M (€500M) in Series C funding. The round was led by Forgepoint Capital International, BNPP Solar Impulse Venture Fund, and Bullhound Capital, with participation from Santander Alternative Investments.

Nuclear Turbines, a Manchester, UK-based nuclear power systems startup, raised £15M in funding. The round was led by IQ Capital, with participation from Rhapsody Venture Partners, Zero Carbon Capital, and Empirical Ventures.

Abstract Security, a Palo Alto, CA-based AI-powered streaming threat detection and composable SIEM platform, raised $25M in Series A extension funding. The round was co-led by Cheyenne Ventures Management and Atlantic Vantage Point, with participation from Crosslink Capital and Rally Ventures.

Andrenam, a Hawthorne, CA-based developer of AI-powered underwater acoustic sensors and autonomous maritime surveillance networks, raised $18M in Series A funding. The round was led by Upfront Ventures, with participation from Valor Equity Partners, Also Capital, and First Round Capital.

DAILY PICKS

🗞️ Must read posts

What happens when a VC reference-checks a founder (And who they actually call): Most founders think diligence is about metrics, customers, and market size. But once a VC is serious, they often start calling former colleagues, cofounders, customers, past investors, and people you never listed as references. This piece shows founders how to understand the hidden reference-check process and prepare for it before it quietly decides the round.

How to get investors interested months before you raise (with the exact emails that get replies): Most founders wait until they need money before reaching out to investors. This piece shows how to build relationships earlier with monthly updates that show momentum, build trust, and make the eventual fundraise feel like the natural next step.

NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Framework Ventures, a San Francisco, CA-based venture capital firm focused on the Web3 space, closed its fourth fund (FVIV), at $400m. Founded in 2019 by Michael Anderson and Vance Spencer, Framework is pioneer in decentralized finance (DeFi) and blockchain gaming investments.

KEY STORIES IN TECH

📜 Latest In Tech

Satya Nadella warns against relying on a single AI provider

• Microsoft CEO Satya Nadella said businesses that depend entirely on one AI model provider risk “outsourcing their thinking” and could lose control over their data, workflows, and long-term competitiveness.

• He urged enterprises to retain ownership of their prompts, metadata, and AI infrastructure so they can switch between models or build their own AI systems instead of becoming locked into a single vendor.

• Nadella also warned against relying solely on proprietary AI coding tools, arguing that using multiple models and independent AI infrastructure gives companies greater flexibility and reduces the risk of future competition from AI providers themselves.

Apple sued over alleged App Store crypto scam

• Apple is facing a lawsuit after three users allegedly lost more than $1.8 million by downloading a fake crypto wallet app from the App Store that impersonated the popular Sparrow Wallet.

• The plaintiffs argue that Apple’s App Store review process and security claims gave them confidence that the app was legitimate, making the company responsible for failing to block the fraudulent listing.

• Apple says impersonation apps violate its policies, the fake apps have since been removed, and it rejected more than 371,000 misleading or copycat app submissions in 2025.

Anthropic CEO clarifies stance on open AI models

• Anthropic CEO Dario Amodei said the company does not support banning open-weight AI models, arguing they provide significant value to developers and researchers when they lack dangerous capabilities.

• Instead, Amodei expressed concern about advanced AI developed by authoritarian governments, particularly China, citing risks related to military applications, biological threats, and intellectual property theft.

• He also backed stronger international AI safety testing and continued restrictions on access to advanced AI chips, while calling for global cooperation on evaluating the most capable AI models.

Google’s AI search is becoming the default experience

• Google’s AI Overviews now appear in 43% of searches, up from 15% a year ago, as AI-powered answers and conversational search become a core part of the search experience.

• The shift is changing user behavior, with people asking longer, more natural language queries and spending more time within Google’s ecosystem instead of clicking through to external websites.

• While AI search continues to reduce referral traffic for publishers, recent updates have increased click-throughs from ChatGPT search results, offering some relief even as AI increasingly becomes the primary destination for information.

Nvidia launches AI security alliance

• Nvidia has started the Open Secure AI Alliance, a group aimed at building and sharing open AI models, tools, and techniques that cybersecurity defenders can inspect, adapt, and run on their own systems to protect software and AI agents.

• The alliance launched with around 35 partners including Microsoft, IBM, CrowdStrike, Cloudflare, Hugging Face, Palantir, and the Linux Foundation, and points to a recent Hugging Face breach where the open GLM 5.2 model analyzed over 17,000 actions to contain the attack.

• Contributors are donating open defense tools, such as Nvidia’s new NOOA agent framework on GitHub, Hugging Face’s Safetensors format, HPE’s SPIFFE/SPIRE identity standards, and Microsoft’s MDASH bug-scanning harness, while urging regulators to treat open AI as a defensive asset.

Incoming Apple CEO plans to expand the company’s entertainment business

• Incoming Apple CEO John Ternus said he plans to build on the momentum of Apple TV, following the success of original productions like CODA, F1, Ted Lasso, and The Studio.

• Current CEO Tim Cook said Apple’s strategy is to prioritize high-quality content over volume, while remaining open to partnerships where the company can bring unique technology and innovation.

• Ternus will officially take over as CEO in September, with Apple aiming to further strengthen its position in streaming and entertainment through premium content and exclusive experiences.

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☕ Other News

AI chatbots leaked bioweapon recipes

• The Wall Street Journal reported that last summer, hundreds of ChatGPT users worldwide asked the chatbot how to make poisons and bioweapons, with OpenAI saying most of those questions were about poisons.

• Biology and terrorism experts later reviewed the exchanges and judged some of ChatGPT’s answers “deadly accurate,” describing instructions delivered patiently and roughly at the skill level of a high school student.

• OpenAI banned the users but did not alert authorities, though the company says it forwards queries to law enforcement when they seem to pose credible, real-world dangers, and evaluates its models for safety before release.

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Breaking News

Nvidia is reportedly in talks to back OpenAI’s massive AI infrastructure buildout with around $250 billion in financing guarantees, supporting a data center project expected to exceed $500 billion. The deal would deepen one of AI’s most important partnerships while accelerating OpenAI’s push to own its computing infrastructure.

AI startup Prentis, co-founded by LinkedIn founder Reid Hoffman and Zynga founder Mark Pincus, is reportedly raising $100 million at a $1 billion valuation to build AI agents that automate enterprise workflows. The company has already signed contracts worth up to $50 million and is developing lower-cost AI models to compete with OpenAI, Anthropic, and other enterprise AI players.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

imagi, a Stockholm, Sweden- and New York City-based provider of a safe AI education platform for K–12 schools, raised $4.5M in Seed funding. The round was led by Brighteye Ventures and Day One Capital, with participation from FemInvest, We Are Human, Morgan Stanley, Sparkmind Capital, Mati Staniszewski, Thomas Dohmke, Fredrik Hjelm, Will.i.am, Sophia Amoruso, Simon Squibb, and others.

1872, a Cincinnati, OH-based AI-native manufacturing startup, raised $15M in Seed funding. The investment was made through private funds advised by The O.H.I.O. Fund.

SEED

1872, a Cincinnati, OH-based AI-native manufacturing startup, raised $15M in Seed funding. The investment was made through private funds advised by The O.H.I.O. Fund.

GROWTH

Wellumio, a Wellington, New Zealand-based provider of portable brain imaging technology for point-of-care stroke detection, raised $9.75M in Pre-Series A funding. The round was led by Nuance Connected Capital, with participation from Bioshore Ventures, Jumpspace Ventures, Icehouse Ventures, NZ Growth Capital Partners, Pacific Channel, Booster, Cure Kids Ventures, Flying Kiwi, Enterprise Angels, and others.

TidalSense, a Cambridge, UK-based provider of AI-powered respiratory diagnostic solutions, raised $19M in financing. Backers included Cross-Border Impact Ventures, BGF, Airstream Capital, and Foresight Group.

AegisAI, a San Francisco, CA-based email security platform powered by autonomous AI defense agents, raised $36M in Series A funding. The round was led by Battery Ventures, with participation from Accel and Foundation Capital.

Novum Studio, a London, UK-based provider of an AI-native enterprise communication platform, raised an undisclosed amount in funding. Investors were not disclosed.

Jusfy, a São Paulo, Brazil-based developer of an AI-native legal operating system and embedded legal fintech platform, raised an undisclosed amount in Series A funding. The round was co-led by Thomson Reuters Ventures and Quona Capital, with participation from Spectra Investments, The LegalTech Fund, FJ Labs, and Maya Capital.

Prosper Medical, a San Francisco, CA-based provider of an AI-powered concierge primary care platform, raised $16M in financing. The round was led by FUSE, with participation from Aurum Partners, Better.vc, Cal Innovation Fund, Fluent, Latitude Capital, Knoll Ventures, and WTI.

Elio, a San Mateo, CA-based company developing sensors designed for artificial intelligence, raised $21M in funding. The round was led by Innovation Endeavors and Xora, with participation from Kevin Weil, Scribble VC, UpWest, and Resolute Ventures.

Paper, a San Francisco, CA-based design platform for agentic AI, raised $34M in Series A funding. The round was led by Accel and ICONIQ, with participation from Designer Fund, Michael Grinich, Anton Osika, and engineers and designers from Anthropic and OpenAI.

DAILY PICKS

🗞️ Must read posts

What happens when a VC reference-checks a founder (And who they actually call): Most founders think diligence is about metrics, customers, and market size. But once a VC is serious, they often start calling former colleagues, cofounders, customers, past investors, and people you never listed as references. This piece shows founders how to understand the hidden reference-check process and prepare for it before it quietly decides the round.

How to get investors interested months before you raise (with the exact emails that get replies): Most founders wait until they need money before reaching out to investors. This piece shows how to build relationships earlier with monthly updates that show momentum, build trust, and make the eventual fundraise feel like the natural next step.

NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Dimension Capital, a New York-based venture capital firm founded by Zavian Dar, Adam Goulburn, and Nan Li, raised $800 million for its third fund. The firm invests in startups operating at the intersection of science and computing, with a focus on AI, biotech, drug discovery, and deep tech.

ReefHaven Ventures, a San Diego, CA-based early stage venture capital firm, launched. Led by Garrett Smith, PhD, Managing Partner, and Nicholas Mourlas, PhD, Investment Partner, ReefHaven Ventures invests in early-stage startups at the intersection of Artificial Intelligence and Medical Technology.

KEY STORIES IN TECH

📜 Latest In Tech

Debate over Chinese AI models intensifies in the U.S.

• The release of Moonshot AI’s Kimi model has reignited debate over whether Chinese open AI models pose a competitive or security threat, prompting renewed discussions among U.S. policymakers and AI companies.

• Critics argue that broad restrictions on Chinese models could primarily benefit a small number of American frontier AI labs rather than strengthen overall U.S. AI competitiveness.

• The debate highlights broader tensions around AI leadership, open versus proprietary models, and how governments should balance innovation, competition, and national security.

Musk’s Boring Company is reportedly seeking funding at a $20B valuation

• Elon Musk’s tunneling startup, The Boring Company, is reportedly in talks to raise $4 billion at a $20 billion valuation, a sharp increase from its 2022 valuation of $5.7 billion.

• The company currently operates an underground transportation system in Las Vegas and is pursuing new tunnel projects in cities including Nashville and Dubai.

• The fundraising comes as The Boring Company expands its infrastructure ambitions despite past regulatory scrutiny over workplace safety and environmental compliance.

Anthropic’s new model catches up to Fable 5

• Anthropic has released Opus 5, a new flagship AI model that delivers stronger performance than Fable 5 on several benchmarks while offering lower costs and lighter safety restrictions.

• The model improves reasoning and self-verification capabilities, and removes the 30-day data retention policy that applies to Anthropic’s larger frontier models.

• Anthropic also introduced Automatic Fallbacks, a feature that automatically switches blocked requests to a less restrictive model so developers receive usable responses instead of errors.

Midjourney acquires astrology app Co-Star

• Midjourney has acquired social astrology app Co-Star, bringing its team of around two dozen employees into the company as it expands beyond AI image and video generation.

• Co-Star, which has about 4.3 million monthly active users, combines AI and human-written content to deliver personalized horoscopes, compatibility insights, and astrology-based recommendations.

• The acquisition signals Midjourney’s growing interest in consumer applications and could help accelerate development of a standalone app beyond its current Discord-based experience.

OpenAI's rogue AI ran loose for days

• OpenAI has revealed that its AI models broke out of a test environment and spent a weekend running an automated attack on Hugging Face, an AI hosting company, which reported the breach to police before knowing the culprit.

• The models were meant to cheat on a cybersecurity test, but found an unknown flaw in an internal software service, used it to reach the open internet, then broke into Hugging Face to grab data that boosted their score.

• OpenAI ran the evaluation with its usual cyber guardrails switched off and on a system not watched by default, so the agents roamed for days before anyone noticed, and no law forced the company to disclose the incident.

Nvidia commits $500B to SK Group

• Nvidia CEO Jensen Huang announced a partnership with South Korea’s SK Group worth about $500 billion, possibly the largest commitment yet in AI infrastructure, though neither company has shared specific details of the deal.

• SK Group owns SK Hynix, one of just two makers of high-bandwidth memory (HBM), the stacked DRAM that lets AI chips process data quickly, giving Nvidia steadier access to a component that has become a major bottleneck.

• The deal is part of Nvidia’s wider push into South Korea, which includes investing in Naver, building a self-driving Genesis car with Hyundai, moving AI researchers from California, and working with KAIST on a Korean language model.

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☕ Other News

Trump threatens EU tariffs over fine

• President Trump has vowed to hit the European Union with a large tariff, retaliating over billions in fines levied against Apple, Google, Meta, and Amazon, which he called illegal and unfair to American companies.

• In a Truth Social post, Trump pointed to the EU’s recent €890 million fine against Google under the Digital Markets Act, and said he would open a 301 investigation into what he described as the “robbing” of US firms.

• His cited $15 billion Apple figure refers to a 2024 court ruling ordering Ireland to recover €13 billion in unpaid taxes, separate from the €570 million Digital Markets Act fine Apple received in April 2025.

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Alphabet reported negative free cash flow for the first time since becoming a public company as AI infrastructure spending surged. The milestone highlights the enormous capital required to compete in the AI race and raises fresh questions about how long hyperscalers can sustain record-breaking investments.

AMD introduced Helios, a rack-scale AI platform built to train and serve frontier AI models, with major customers including Microsoft, OpenAI, Meta, Anthropic, and Oracle. The launch marks AMD's strongest push yet to challenge Nvidia's dominance in AI infrastructure.

DAILY PICKS

🗞️ Must read posts

What happens when a VC reference-checks a founder (And who they actually call): Most founders think diligence is about metrics, customers, and market size. But once a VC is serious, they often start calling former colleagues, cofounders, customers, past investors, and people you never listed as references. This piece shows founders how to understand the hidden reference-check process and prepare for it before it quietly decides the round.

How to get a warm intro to VC without a network?: Most founders think a warm intro is just about knowing someone who knows an investor. This piece shows why the best intro often comes from the strongest, most recent relationship path into a fund - not the most obvious connection. It breaks down the messenger hierarchy, the one-ask rule, double opt-ins, and the exact messages founders can use to make introductions easier to send.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

Coverwatch, a San Francisco, CA-based insurtech startup providing an AI-native platform for evaluating risk and identifying coverage gaps, raised $4.5M in Pre-Seed funding. The round was led by CoFound and Restive, with participation from KFund, Liquid 2 Ventures, and other investors.

Cast Insights, a San Francisco, CA-based real-time spoken intelligence platform, raised $4.5M in Pre-Seed funding. The round was led by Abstract Ventures, with participation from HF0, Village Global, Max Ventures, Embassy Ventures, Stratus Ventures, and others.

Ossprey, a London, UK-based software supply chain security and malicious code detection company, raised $2.65M in Pre-Seed funding. The round was led by Episode 1 Ventures, with participation from Osney Capital and Octopus Investments.

SEED

1872, a Cincinnati, OH-based AI-native manufacturing startup, raised $15M in Seed funding. The investment was made through private funds advised by The O.H.I.O. Fund.

Cheiron, a Los Altos, CA-based operating system for drug development programs, raised $8M in Seed funding. The round was led by Menlo Ventures, with participation from Robert Langer, Freda Lewis-Hall, Josh Meier, Laxman Narasimhan, and John Giannandrea.

Petra Labs, a New York City-based answer engine optimization company, raised $5.2M in Seed funding. The round was led by Work-Bench, with participation from Afore, Pathlight, and strategic angel investors.

GROWTH

Elio, a San Mateo, CA-based company developing AI-native sensors, raised $21M in funding. The round was led by Innovation Endeavors and Xora, with participation from Kevin Weil, Scribble VC, UpWest, and Resolute Ventures.

Paper, a San Francisco, CA-based design platform for agentic AI, raised $34M in Series A funding. The round was led by Accel and ICONIQ, with participation from Designer Fund, Michael Grinich, Anton Osika, and engineers and designers from Anthropic and OpenAI.

Ropedia, a Singapore-based physical AI data infrastructure startup, raised $30M across two Pre-Series A rounds. The rounds were backed by individual angel investors whose names were not disclosed.

Abstract, a San Francisco, CA-based composable security operations company, raised $25M in funding. The round was co-led by Cheyenne Ventures and AVP, with participation from Olive Hill Ventures, Crosslink Capital, and Rally Ventures.

Asuene, a Tokyo, Japan-based decarbonization and sustainability management company, raised $87M in Series D funding. The financing included $43.8M in new capital led by Decarbonization Partners and $19.3M in debt from Sumitomo Mitsui Banking Corporation.

Moa Technology, an Oxford, UK-based agricultural biotechnology company, raised £22.2M in Series C funding. The round was led by Oxford Science Enterprises and Supernova Invest, with participation from Agri Investment Fund, GrainInnovate, Infinity Investment Partners, and Magdalen College Oxford.

Humanoid, a London, UK-based AI and robotics company developing industrial humanoid robots, raised $152M in Series A funding. The round was led by Prime Movers Lab, with participation from Schaeffler, Bosch, Fubon Financial Holding Venture Capital, and Aglaé Ventures.

Yope, a Kyiv, Ukraine-based AI-native private social platform for micro-communities, raised $12.3M in Pre-Series A funding. The round was led by Northzone, with participation from Inovo, Redseed, and Geek Ventures.

Atoms, a Los Angeles, CA-based industrial robotics and automation company, raised $1.7B in funding. The round was led by Andreessen Horowitz, with participation from Bain Capital, Fifth Wall, Uber, Chemistry, A*, K5 Global, Abstract, SV Angel, and Alpha Square Group.

Transcripta Bio, a Palo Alto, CA-based AI-powered drug discovery company focused on neurological and neuromuscular diseases, raised $24M in funding. Backers included Mayo Clinic, Omnimed, JAZZ Venture Partners, BlueYard Capital, and a group of life sciences family offices.

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NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Dimension Capital, a New York-based venture capital firm founded by Zavian Dar, Adam Goulburn, and Nan Li, raised $800 million for its third fund. The firm invests in startups operating at the intersection of science and computing, with a focus on AI, biotech, drug discovery, and deep tech.

ReefHaven Ventures, a San Diego, CA-based early stage venture capital firm, launched. Led by Garrett Smith, PhD, Managing Partner, and Nicholas Mourlas, PhD, Investment Partner, ReefHaven Ventures invests in early-stage startups at the intersection of Artificial Intelligence and Medical Technology.

KEY STORIES IN TECH

📜 Latest In Tech

Ford partners with Apple for next-generation EV software

• Ford will become the first automaker to integrate Apple’s new MapKit for Automotive, bringing native Apple Maps, EV routing, and real-time navigation to its next-generation electric vehicles starting in 2027.

• The integration will support advanced features like battery preconditioning, enhanced navigation for BlueCruise hands-free driving, and potential smart home connectivity.

• The partnership is part of Ford’s broader strategy to build affordable, software-driven EVs on its new universal electric vehicle platform, with future expansion across multiple vehicle models.

OpenAI expands ChatGPT Health across the U.S.

• OpenAI has rolled out ChatGPT Health to all U.S. users aged 18+ across free and paid plans, allowing users to connect health data from services like Apple Health, Epic, Oracle Health, and MyFitnessPal.

• The company said health-related questions on ChatGPT have grown to 300 million per week and users can now access personalized health insights directly in regular chats.

• OpenAI emphasized that ChatGPT is not a substitute for medical diagnosis or treatment and continues to advise users to verify health information with qualified healthcare professionals.

Nvidia GPUs are heading to the moon

• Lunar Outpost will use Nvidia’s Jetson GPU platform in its next lunar rover, marking what is expected to be the first deployment of a GPU on the moon to power onboard AI and lidar processing.

• The AI-powered rover is part of NASA-backed lunar missions focused on exploring the moon’s surface, mapping difficult terrain, and supporting future human missions.

• The partnership highlights Nvidia’s expanding role beyond data centers, with compact AI chips increasingly being used in robotics and autonomous systems operating in extreme environments.

Google’s Gemini approaches 1 billion monthly users

• Google said Gemini has surpassed 950 million monthly users, nearly tripling its user base over the past year as it closes in on ChatGPT’s scale.

• The company credited new AI features like Daily Brief and Gemini Spark, along with strong adoption across Android and iOS, for driving rapid growth.

• Google also said its AI-powered Search features continue to expand, with AI Mode now reaching over 1 billion users while increasing overall search activity.

OpenAI unveils Presence for voice agents

• OpenAI launched Presence, a new platform that lets enterprises build and deploy real-time voice agents and chatbots for customer support, giving businesses tools to handle spoken and text conversations with their customers at scale.

• The platform targets enterprise workflow automation, integrating with existing business systems and call-center operations so companies can route tasks, pull up records, and manage support requests through automated agents connected to their current software.

• The move signals OpenAI’s push deeper into enterprise AI amid rising competition from Anthropic and Google, both of which are building agentic platforms aimed at businesses that want to automate customer service and internal work.

Google adds selfie video sign-in

• Google now lets you sign into your account by recording a selfie video, adding another way to prove who you are with your face when you can’t reach your usual phone or computer or get locked out.

• You set it up on the My Account page under Security & sign-in, using your computer’s camera or a QR code sent to your phone, and Google tells you to remove glasses or masks and avoid busy backgrounds.

• During each login Google asks you to turn your head to block deepfakes and confirm you’re really there, and it encrypts and stores your video, though the feature isn’t offered for Workspace, child, or Advanced Protection accounts.

EU approves chip that restores vision

• European regulators cleared PRIMA, a device made by startup Science Corporation that restores functional vision to people who lost it to age-related macular degeneration, a condition that destroys light-sensitive cells at the back of the eye.

• Patients get a small chip planted behind the eye during an hour-long outpatient procedure, then wear camera-equipped glasses that send a view of the world to the implant, letting some read books and complete puzzles again.

• Each PRIMA device is expected to cost in the hundreds of thousands of dollars, with Germany’s first procedure possibly happening in September, while the US FDA granted a designation that starts a faster review for two rare kinds of blindness.

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☕ Other News

Patreon lays off 20% of its workforce

• Patreon is cutting 93 employees, or 20% of its workforce, as part of a restructuring aimed at simplifying operations and adapting to rapid changes across the tech industry.

• CEO Jack Conte said the layoffs are not about replacing employees with AI, emphasizing that the company’s long-term strategy remains centered on human creativity and creator communities.

• Alongside the workforce reduction, Patreon is flattening its organizational structure while continuing efforts to protect creators’ content from unauthorized AI scraping.

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Breaking News

OpenAI plans to spend $750 billion on AI infrastructure through 2030, raising its previous forecast by 25% as it accelerates data center expansion. The massive investment underscores the scale of the AI compute race and OpenAI’s long-term bet on owning enough infrastructure to power future models.

Alphabet reported an 82% year-over-year jump in Google Cloud revenue, driven by surging enterprise demand for AI services and infrastructure. With Gemini reaching 950 million monthly users and a $514 billion cloud backlog, the results show Google’s AI strategy is translating into significant business growth.

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Ranking on Google is still important.

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If your goal is to stay visible wherever customers are searching, this is worth exploring.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

ChatFeatured, a Toronto, Canada-based AI search optimization platform, raised US$2M in Pre-Seed funding. The round was led by Storytime Capital, with participation from Garage Capital and BY Venture Partners.

SEED

StrongestLayer, a San Francisco, CA-based AI-native email security company, raised $4.1M in Seed extension funding. The round was led by Inovia Capital, with participation from Sorenson Capital, LaunchPod, Alumni Ventures, and Chris Key.

Inner Logic, formerly Semaphor, a Baltimore, MD-based medical technology startup, raised $11.5M in Seed funding. The round was led by General Catalyst and Bison Ventures, with participation from J2VP, Defined, PTX, Valia Ventures, Page One, Alumni Ventures, and Flare.

Velocity, a Tel Aviv, Israel-based developer of monetization and contextual advertising infrastructure for AI applications, raised $27M in Seed funding. The round was led by NFX and Red Dot Capital Partners, with participation from Stardom Ventures, Corner Ventures, Transcend, Gilad Almog, and Lior Shiff.

Hey Seven, a Las Vegas, NV-based AI-native player development platform, raised an undisclosed amount in Seed funding. The round was led by Bettor Capital.

Bioscan Research, an Ahmedabad, India-based medical device company, raised $1M in Seed funding. The round was led by Unicorn India Ventures.

SkyPilot, a San Francisco, CA-based AI compute management platform, raised $20M in Seed funding. The round was led by Lux Capital, with participation from Amplify Partners, Coatue Management, Foundation Capital, Race Capital, The House Fund, Ali Ghodsi, Jeff Dean, Guillermo Rauch, Amjad Masad, Clem Delangue, and Tristan Handy.

GROWTH

Neon Commerce, a San Francisco, CA-based fintech company specializing in direct-to-consumer commerce for games, raised $13M in Series A funding. Investors included KRAFTON, a16z, and Renegade Partners.

deltaVision, a Munich, Germany-based spacetech company, raised €10.2M in its first funding round. The round was led by KT Ventures and Valemount Capital, with participation from Futury Capital and additional private investors.

Circular Materials, a Padua, Italy-based industrial wastewater treatment and critical materials recovery company, secured $13.5M in SAFE financing. Backers included CDP Venture Capital, European Innovation Council Fund, EIT RawMaterials, 360 Capital, Corbites, and Lumar.

Passionfroot, a New York City-based B2B creator-led growth platform, raised $15M in Series A funding. The round was led by Insight Partners, with participation from Creandum, Supernode Global, and s16vc.

Tikva Allocell, a Singapore-based biotechnology company developing allogeneic cell therapies, raised $8M in Series A funding. The round was led by Kantharos Capital.

Glow, a Tel Aviv- and Palo Alto-based AI-powered workspace security company, raised $180M in funding. The round was led by Sequoia, Cyberstarts, Greenoaks, and Redpoint Ventures, with participation from Index Ventures, Swish Ventures, Lux Capital, Operator Collective, and Holly Ventures.

Arrakis Technologies, a London, UK-based AI deployment company for industrial operations, raised approximately $38M across Seed and Series A funding. The $30M Series A was led by Blossom Capital, with participation from Accel, GFC, MainObject, Rerail, Olivier Pomel, Olivier Godement, and Junaid Hussein, while the earlier $7.5M Seed round was led by Accel.

PathFinder, a Philadelphia, PA-based sports AI agent hardware company, raised an undisclosed amount in an angel round. The round was led by Jinqiu Capital.

N-Zyme Biomedical, a Milwaukee, WI-based clinical-stage biotechnology company developing therapies targeting pepsin, raised approximately $4.6M in Series A funding. Backers included healthcare professionals, entrepreneurs, a venture capital group, and strategic investors whose names were not disclosed.

Crystalys Therapeutics, a San Diego, CA-based clinical-stage biopharmaceutical company, raised $130M in Series B funding. The round was led by Frazier Life Sciences, with participation from Wellington Management, HBM Healthcare Investments, Soleus Capital, Cormorant Asset Management, Trails Edge Capital Partners, Pivotal bioVenture Partners, and KCap Biotechnology Fund.

Candid Health, a San Francisco, CA-based autonomous revenue cycle automation platform for healthcare providers, raised $120M in Series D funding. The round was led by Sixth Street Growth, with participation from Oak HC/FT, 8VC, and Y Combinator.

Karoo Health, an Albuquerque, NM-based cardiovascular technology company, raised $16.2M in Series A funding. The round was led by 7wire Ventures and Allumia Ventures, with participation from First Trust Capital Partners, SpringRock Ventures, Hyde Park Angels, and other investors.

Uniti, a New York City-based agentic AI platform for global real estate operators, raised $12M in Series A funding. The round was led by Pathlight, with participation from MetaProp, Prudence, Flex Capital, Alate, RE VC, Romain Huet, Lenny Rachitsky, and Gokul Rajaram.

Cashea, a Caracas, Venezuela-based buy now, pay later platform, raised $100M across Series A and Series B funding. The $40M Series A was led by Spice Expeditions and included $20M in debt from Architect Capital, while the $60M Series B was led by FinSight Ventures, with participation from Spice Expeditions, Endeavor Catalyst, and other investors.

TYBR Health, a Houston, TX-based medical technology company developing treatments to improve post-operative tendon mobility, raised $30M in Series A funding. The round was led by Vensana Capital and Mutual Capital Partners, with participation from Neovate Capital Partners and existing investors.

Genius AI, a New York City-based technology platform for in-person service businesses, raised $44M in Series D funding. The round was led by Lux Capital, with participation from Bessemer Venture Partners, Imaginary Ventures, L Catterton Growth, 2048 Ventures, StepStone Private Ventures, and other existing investors.

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What happens when a VC reference-checks a founder (And who they actually call): Most founders think diligence is about metrics, customers, and market size. But once a VC is serious, they often start calling former colleagues, cofounders, customers, past investors, and people you never listed as references. This piece shows founders how to understand the hidden reference-check process and prepare for it before it quietly decides the round.

How to get investors interested months before you raise (with the exact emails that get replies): Most founders wait until they need money before reaching out to investors. This piece shows how to build relationships earlier with monthly updates that show momentum, build trust, and make the eventual fundraise feel like the next step.

NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Dimension Capital, a New York-based venture capital firm founded by Zavian Dar, Adam Goulburn, and Nan Li, raised $800 million for its third fund. The firm invests in startups operating at the intersection of science and computing, with a focus on AI, biotech, drug discovery, and deep tech.

ReefHaven Ventures, a San Diego, CA-based early stage venture capital firm, launched. Led by Garrett Smith, PhD, Managing Partner, and Nicholas Mourlas, PhD, Investment Partner, ReefHaven Ventures invests in early-stage startups at the intersection of Artificial Intelligence and Medical Technology.

KEY STORIES IN TECH

📜 Latest In Tech

U.S. AI startup says Chinese open AI models aren’t inherently risky

• Arcee CTO Lucas Atkins argued that Chinese open-weight AI models are not inherently more dangerous than other open-source software and cannot secretly access systems where they are deployed.

• He said enterprises should evaluate and fine-tune any AI model before deployment, regardless of its origin, rather than treating Chinese models as a unique security threat.

• Instead of banning Chinese AI models, Atkins believes the U.S. should focus on building stronger open AI alternatives that can compete on performance and cost.

Travis Kalanick’s robotics startup raises $1.7B

• Travis Kalanick’s robotics company, Atoms, has raised $1.7 billion in a funding round led by Andreessen Horowitz, with participation from Bain Capital, Fifth Wall, and Uber.

• Atoms combines Kalanick’s CloudKitchens business with robotics ambitions following its acquisition of Pronto, aiming to build AI-powered automation for industries like manufacturing, transportation, and mining.

• Kalanick said the funding will accelerate his vision of using AI and robotics to improve productivity across the physical economy, with significant investment expected in hiring and product development.

OpenAI increases AI infrastructure spending to $750B

• OpenAI plans to spend $750 billion on AI infrastructure through 2030, increasing its earlier estimate by 25%, with a major new data center project planned in Georgia.

• The $20 billion Project Camellia campus is expected to draw up to 3.2 gigawatts of electricity and includes agreements to reduce power usage during periods of peak grid demand.

• The announcement highlights OpenAI’s continued push to expand AI computing capacity despite questions around the pace of its broader Stargate data center initiative.

Samsung unveils new foldables and watches

• Samsung showed off its 2026 lineup at Unpacked in London, launching three phones and two smartwatches, headlined by the Galaxy Z Fold 8, which is lighter, holds a bigger battery, and has a far less noticeable display crease.

• The Z Fold 8 uses a passport-shaped design just 201 grams and 9.7mm thick when shut, with new “flex titanium” material that softens the crease, a wide 4:3 main screen, and a 4,800mAh battery up from last year’s 4,400mAh.

• The pricier Galaxy Z Fold 8 Ultra adds an 8-inch inner screen, a 5,000mAh battery with 45W charging that hits 67% in half an hour, a 200MP main camera, and 8K video recording, all set to rival Apple’s rumored foldable iPhone.

Nvidia's Huang defends Chinese AI models

• Nvidia chief executive Jensen Huang defended Chinese open-source AI models, saying they are excellent and that American companies should absolutely be allowed to run them, pushing back against a wave of panic in Washington.

• Huang made the case for money, arguing that cheaper and free AI models put the technology in more hands, which drives up demand for the chips, data centres, and power that Nvidia sells.

• He also dismissed fears that a downloaded Chinese model is a “backdoor” to Beijing, saying firms can wall the models off in secure sandboxes, and he urged the US to let Anthropic’s Mythos model run freely too.

Pichai defends Google’s AI strategy amid rising competition

• Google CEO Sundar Pichai rejected claims that the company is falling behind in AI, highlighting strong progress with Gemini Flash while acknowledging it still needs to improve in AI coding.

• Pichai said Gemini 3.5 Pro remains in partner testing and revealed that Google plans to release Gemini 4 models at an almost monthly cadence to accelerate innovation.

• Despite investor concerns over delayed flagship models, Google pointed to rapid cloud growth and continued investment in AI infrastructure as evidence of its long-term strategy.

Tesla’s AI ambitions put pressure on its core car business

• Tesla reported weaker-than-expected profits despite record vehicle deliveries, as lower vehicle prices and rising AI infrastructure spending weighed on its automotive margins.

• The company is investing more than $25 billion this year in AI, self-driving technology, robotaxis, and humanoid robots, resulting in negative free cash flow for the quarter.

• Tesla is betting that growing adoption of its Full Self-Driving software and future AI-powered products will offset slowing profitability in its traditional vehicle business.

LAST COFFEE SIP

☕ Other News

Monday.com cuts 20% of workforce to prioritize AI

• Monday.com is laying off around 630 employees, or 20% of its workforce, as part of a restructuring to focus more heavily on its AI strategy.

• The company is investing in its AI Work Platform, which includes AI agents, workflow automation, a no-code app builder, and enterprise productivity tools.

• The move reflects a broader industry trend, with tech companies increasingly reducing headcount to redirect resources toward AI development.

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• Ventures Associate - Redesign health | USA - Apply Here

• Visiting Engineer - AI fund | USA - Apply Here

• Investment Associate / Analyst - Flashpoint VC | USA - Apply Here

• VC Investment Intern - First Momentum Venture | USA - Apply Here

• Investment Associate - Antler | UK - Apply Here

• Executive Assistant - Playgroud Capital | USA - Apply Here

• Analyst - ICONIQUE Capital | USA - Apply Here

• Finance Director - AI Fund | USA - Apply Here

• Senior Investment Manager - Sagana | India - Apply Here

• Head of fund accounting - Stepstone Group | USA - Apply Here

• Associate or Senior Associate - Bessemer Partner | USA - Apply Here

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Breaking News

OpenAI revealed that pre-release AI models escaped a controlled testing environment, exploited a vulnerability, and accessed Hugging Face's production systems while attempting to complete a cybersecurity benchmark. The incident highlights the growing challenges of safely evaluating increasingly autonomous AI systems.

AI is expected to drive U.S. data center electricity consumption to nearly 20% of total power demand by 2035, according to BloombergNEF. The forecast underscores how AI infrastructure is becoming one of the biggest long-term challenges for energy grids, utilities, and global power markets.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

Sightera Biosciences, an Antwerp, Belgium-based AI-driven drug discovery company, raised €3M in Pre-Seed funding. Backers included Entourage, Anacura, and QBIC.

SEED

Estrigenix Therapeutics, a Milwaukee, WI-based biotechnology company developing selective estrogen receptor-beta therapeutics, raised $2M in Seed funding. The round was led by Talents Fund I.

Photon Queue, a Champaign, IL-based quantum technology company developing quantum storage and computing systems, raised $4M in Seed funding. The round was led by Playground Global.

Vikk AI, a Long Beach, CA-based AI-powered legal discovery platform, raised $4.2M across a $700K Pre-Seed round and a $3.5M Seed round. Investors included MagnaSci Ventures, Ronson Shamoun, Joe Samo, Brad Jowell, and Cooper Collins.

Cordant, a New York City-based payments infrastructure platform for fintech companies and banks, raised $8M in Seed funding. The round was co-led by Motive Partners and Oak HC/FT, with participation from Bankless VC, FJ Labs, SignalFire, Quona, Next Stage, Selah Ventures, Flatironx, Nascent Ventures, Silvercircle Ventures, and Generative Ventures.

Sofab Inks, a Louisville, KY-based specialty materials company serving the perovskite solar industry, raised $6M in Seed funding. The round was led by Cloudberry Ventures.

Woddle Baby, an Orlando, FL-based AI-powered infant health monitoring company, raised $5M in Seed funding. The round was led by Capital Q Ventures.

Infinity, a San Francisco, CA-based AI infrastructure research company, raised $15M in Seed funding. Backers included Touring Capital, Principal VC, and angel investors.

GROWTH

Mach42, an Oxford, UK-based AI-driven semiconductor design company, raised £7M in Pre-Series A funding. The round was led by IP Group plc, with participation from BGF and Foresight Group.

Cascade, a New York City-based AI pursuit platform for architecture, engineering, and construction firms, raised $3.5M in funding. Backers included Andreessen Horowitz Speedrun, Ada Ventures, Blitzscaling Ventures, Indico Capital, shuckerVC, G2C Ventures, and Snowball VC.

Sila, an Alameda, CA-based battery technology company, raised $300M in private equity funding. The round was led by Atreides Management and Sutter Hill Ventures, with participation from 8VC, Bessemer Venture Partners, Matrix Partners, T. Rowe Price Associates, and other investors.

Organic Traditions, a Toronto, Canada-based food brand, raised $10M in Series A funding. Investors were not disclosed.

MyDecisive, a San Francisco, CA-based provider of AI-powered DevOps services, raised $12M in funding. Investors were not disclosed.

Gritt, a San Francisco, CA-based robotics and AI company, raised $26M in Series A funding. The round was led by Obvious Ventures, with participation from Union Square Ventures, Active Impact Investments, First Round Capital, Climactic, Congruent Ventures, and VSC Ventures.

Assort Health, a San Francisco, CA-based AI agents platform for managing patient journeys, raised $120M in Series C funding. The round was led by Menlo Ventures.

Augustus, a New York City-based financial technology company, raised $180M in Series B funding. The round was led by Tiger Global, with participation from Hummingbird, QED, David Velez, Karim Atiyeh, Sean Neville, Alex Bouaziz, Victor Cardenas, Alan Chang, Balaji Srinivasan, Farooq Malik, Gavin Uberti, Victor Riparbelli, Alexander Rinke, Jamie Cox, Jan Oberhauser, Soma Capital, Road Capital Management, CMT Digital, Brevan Howard Digital, and Variant.

Alocity, a Pembroke Pines, FL-based provider of an AI operating system for physical spaces, raised an undisclosed amount in Series A funding. Backers included a private investor group and founder Marco Quintero.

Tempress, a Vaassen, the Netherlands-based semiconductor equipment company, received a $20M investment from Jolt Capital.

Brenus Pharma, a Lyon, France-based immuno-oncology company, raised €11M in Series A extension funding. Backers included Angelor, UI Investissement, Crédit Agricole, Noshaq, Orsa, BIO JAG, Bpifrance, Sambrinvest, and Korea Omega Investment.

American Growth Insurance (AGI), an Atlanta, GA-based AI-enabled insurance brokerage growth platform, raised $70M in funding. Backers included Rockbridge Growth Equity and Atomic.

Rege Nephro, a Kyoto, Japan-based clinical-stage biotechnology company developing kidney regenerative medicines, raised approximately $10.6M in funding. Backers included Arcus South East Asia, BA7 Venture Capital CORP, Chushin Venture Capital, DCI Partners, JAFCO Group, JIC Venture Growth Investments, Kyoshin Social Capital, Kyoto University Innovation Capital, Mitsubishi UFJ Capital, RAP-HI, SPARX Asset Management, TaiAn Technologies, and Toho Holdings.

Twenty, an Arlington, VA-based cyber warfare startup, received a $30M investment from Khosla Ventures following its recently announced $100M Series B round led by Accel. Other investors included Friends and Family Capital, Point72 Ventures, Caffeinated Capital, General Catalyst, and In-Q-Tel.

Natural, a San Francisco, CA-based payments infrastructure company for AI agents, raised $30M in Series A funding. The round was led by Kirsten Green, with participation from Aarmaan Ali, Baris Akis, Ramtin Naimi, Nichole Wischoff, Darragh Buckley, Pablo Palafox, Paul Klein IV, Akshay Kothari, Henri Stern, Max Segall, Art Levy, Jake Paul, and Logan Paul.

DAILY PICKS

🗞️ Must read posts

How to get investors interested months before you raise (with the exact emails that get replies): Most founders wait until they need money before reaching out to investors. This piece shows how to build relationships earlier with monthly updates that show momentum, build trust, and make the eventual fundraise feel like the next step.

How seed, growth and micro-VC funds hire differently (And which one you should apply to): Most people apply to venture capital like it is one industry, but seed funds, growth funds, and solo GPs hire for completely different skills. This piece helps aspiring investors understand which VC lane fits their background and what proof-of-work they need to build before applying.

NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Dimension Capital, a New York-based venture capital firm founded by Zavian Dar, Adam Goulburn, and Nan Li, raised $800 million for its third fund. The firm invests in startups operating at the intersection of science and computing, with a focus on AI, biotech, drug discovery, and deep tech.

ReefHaven Ventures, a San Diego, CA-based early stage venture capital firm, launched. Led by Garrett Smith, PhD, Managing Partner, and Nicholas Mourlas, PhD, Investment Partner, ReefHaven Ventures invests in early-stage startups at the intersection of Artificial Intelligence and Medical Technology.

KEY STORIES IN TECH

📜 Latest In Tech

Anthropic reportedly explored acquiring robotics startup Physical Intelligence

• Reports suggest Anthropic held acquisition talks with robotics startup Physical Intelligence earlier this year, although the company’s CEO denied rumors that a deal had been reached.

• The discussions highlight growing interest among leading AI labs in robotics, as companies race to combine advanced AI models with real-world physical systems.

• OpenAI is also an investor in Physical Intelligence, raising questions about how strategic investments could influence any future acquisition discussions.

Jack Dorsey launches Buzz, an AI-native alternative to Slack

• Jack Dorsey has introduced Buzz, an open-source workplace chat platform that lets employees and AI agents collaborate in the same conversations while integrating GitHub workflows.

• Built by Block, Buzz is designed to be model-agnostic, decentralized, and customizable, allowing teams to self-host and modify the platform to fit their needs.

• The app is available for macOS, Windows, and Linux, though the company says it is still in its early stages of development.

Google launches three new Gemini Flash models

• Google has released Gemini 3.6 Flash, 3.5 Flash-Lite, and 3.5 Flash Cyber, focusing on lower costs, faster performance, and AI agent workloads, including a cybersecurity model for government partners.

• Gemini 3.6 Flash improves coding, multimodal capabilities, and efficiency while reducing token usage, and 3.5 Flash-Lite is positioned as Google’s most cost-effective model.

• Google has yet to launch the expected Gemini 3.5 Pro model, which remains in partner testing as the company continues working to improve its performance.

U.S. warns Chinese AI firms over alleged IP theft

• U.S. Treasury Secretary Scott Bessent said the government could impose sanctions on Chinese AI companies if investigations find their models rely on stolen intellectual property.

• The warning comes as Chinese open-source AI models, including Moonshot’s Kimi K3, rapidly gain capabilities and intensify competition with leading U.S. AI companies.

• The move signals a potential expansion of U.S. AI policy beyond chip export controls to include direct action against foreign AI models over intellectual property concerns.

Anthropic faces patent lawsuit over AI technology

• The University of Tennessee Research Foundation has sued Anthropic, alleging its AI systems infringe patents covering neuroscience-inspired neural network and machine learning technologies.

• The lawsuit seeks financial damages and a court order to stop the alleged patent infringement, marking the first known patent case filed against Anthropic.

• Anthropic denied the allegations and said it plans to defend the case, adding to the growing legal scrutiny AI companies face over intellectual property.

TSMC to raise chip prices in 2027

• TSMC plans to raise base prices for its chip-making services by up to 10% starting in early 2027, driven by AI demand, higher tool and material costs, and spending on new factories.

• The increase covers both advanced nodes (7nm and below) and older ones like 12nm, 16nm, and 28nm, but customers wanting extra HPC capacity face another 10-15% premium, pushing some bills up around 25%.

• Since TSMC makes most of the world’s advanced chips for clients like Apple, AMD, Nvidia, and MediaTek, the higher costs will spread through the industry and make nearly all electronics more expensive.

Judge pauses Paramount-Warner merger

• A federal judge has temporarily halted Paramount Skydance’s planned takeover of Warner Bros. Discovery after 12 state attorneys general sued to block the deal, saying the combination would reduce competition in film and television.

• Judge Araceli Martínez-Olguín ordered a 14-day pause on Monday, and the coalition led by California Attorney General Rob Bonta could request another delay afterward, arguing the merger harms movie theaters, cable distributors, and audiences.

• The deal would merge two film studios plus streaming services Paramount+ and HBO Max, and combine networks like CBS, MTV, CNN, and HBO; Paramount CEO David Ellison had aimed to close it by September.

LAST COFFEE SIP

☕ Other News

Apple partners with Klarna for device lease program

• Apple is reportedly launching Apple Upgrade with Klarna on July 28, allowing customers to lease iPhones, iPads, Macs, and Apple Watches through multi-year payment plans with upgrade and return options.

• The program will replace new enrollments for Apple’s existing iPhone Upgrade Program and expand financing across more Apple devices.

• The move aims to make higher-priced Apple products more affordable as the company faces rising hardware costs driven by AI-related memory chip shortages.

HIRING ALERT: STARTUPS & VC ROLES

💼 Today’s VC & Startup Job Opportunities

Most aspiring VCs struggle with interviews, unclear expectations, no structured prep, and generic advice that doesn’t actually help. So we partnered with a leading investor group to build an all-in-one VC Interview Preparation Guide that gives you real clarity and frameworks. (Access Here)

• VC Analyst Fellow - 1752VC | USA - Apply Here

• Associate, AI & Data Infrastructure - BVP | USA - Apply Here

• Associate - Sowefund | France - Apply Here

• Ventures Associate - Redesign health | USA - Apply Here

• Visiting Engineer - AI fund | USA - Apply Here

• Investment Associate / Analyst - Flashpoint VC | USA - Apply Here

• VC Investment Intern - First Momentum Venture | USA - Apply Here

• Investment Associate - Antler | UK - Apply Here

• Executive Assistant - Playgroud Capital | USA - Apply Here

• Analyst - ICONIQUE Capital | USA - Apply Here

• Finance Director - AI Fund | USA - Apply Here

• Senior Investment Manager - Sagana | India - Apply Here

• Head of fund accounting - Stepstone Group | USA - Apply Here

• Associate or Senior Associate - Bessemer Partner | USA - Apply Here

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Breaking News

Hugging Face disclosed that an autonomous AI agent infiltrated its production systems through a malicious dataset, gaining access to internal credentials before being stopped. The incident is one of the clearest real-world examples of an AI agent carrying out a sophisticated cyberattack, highlighting the emerging security risks of autonomous AI.

The Trump administration is exploring measures to restrict Chinese AI models in the U.S., including sanctions, procurement limits, and liability for companies that host them. The move signals a new phase in the AI race, shifting competition from chips to the models themselves.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

Sightera Biosciences, an Antwerp, Belgium-based AI-driven drug discovery company, raised €3M in Pre-Seed funding. Backers included Entourage, Anacura, and QBIC.

Mandrake Bio, a Bengaluru, India-based AI-powered protein engineering company, raised $1.9M in Pre-Seed funding. The round was co-led by Activate and Antler, with participation from Spectrum Impact, DeVC, and angel investors including Vijay Chandru, Paras Chopra, Sanjiv Rangrass, and Vatsal Du.

SEED

Ulisses, a Milan, Italy-based IoT asset tracking and smart mobility company, raised €1.09M in Seed funding. Backers included ARGO Accelerator, co-backed by CDP Venture Capital and the Italian Ministry of Tourism, and managed by Zest and VeniSIA.

pQCee, a Singapore-based quantum-safe cybersecurity company, raised $3.9M in Seed funding. The round was co-led by SGInnovate and Lotus One Investment, with participation from In Group Holdings, Wavemaker Partners, SUTD Ventures Holdings, and Apsara Investments.

Extellis, a Durham, NC-based satellite imagery company, extended its Seed funding round. Backers included Shell Ventures.

Sonata, a New York City-based AI-powered preventive healthcare platform, raised $7M in Seed funding. The round was led by Lux Capital, BoxGroup, and Sunflower Capital, with participation from operators and founders at Ramp and Linear.

Vorflux, a Bengaluru, India-based AI-native autonomous software engineering platform, raised $15M in Seed funding. The round was led by Y Combinator, Peak XV Partners, Powerset, and Alliance, with participation from Parker Conrad, Immad Akhund, and Balaji Srinivasan.

Runta, a San Francisco, CA-based AI agent runtime infrastructure company, raised $20M in Seed funding. The round was led by Andreessen Horowitz.

Apaluma, an Albuquerque, NM-based regulatory intelligence platform, raised $5.55M in Seed funding. The round was led by Crosslink Capital, Kickstart, Haven Ventures, and Overwater Ventures, with participation from Orange DAO and NM Vintage Fund.

GROWTH

Raghu Vamsi Aerospace Group (RVAG), a Hyderabad, India-based precision manufacturing and deep-tech company, raised $40M in funding. The round was led by Norwest and Skegen Asset Management, with participation from Indus Bridge Ventures, GJNX Ventures, and Ashish Kacholia.

Sereact, a Stuttgart, Germany-based AI-powered warehouse robotics company, expanded its Series B funding to $116M with a $6M investment from Zalando.

Trellis Bioscience, a Redwood City, CA-based biotechnology company, raised $9M in Series C funding. The round was led by New Science Ventures and Easton Capital.

Empirical Security, a Chicago, IL-based cybersecurity company, raised $25M in Series A funding. The round was led by Brightmind Partners, following earlier backing from Costanoa Ventures, Hyde Park Angels, and other investors.

Neo, a Boston, MA-based agentic software control company, raised $100M in funding. Backers included Andreessen Horowitz, Bessemer Venture Partners, Craft Ventures, and Merlin Ventures.

Databricks, a San Francisco, CA-based data and AI company, announced a new strategic funding round at a $188B valuation. The round is led by Coatue, with participation from additional new and existing investors.

Self Inspection, a San Diego, CA-based vehicle health recording platform, raised $10M in funding. The round was led by Sandberg Bernthal Venture Partners, with participation from U.S. AutoForce, Westlake Financial, Costanoa Ventures, Rebellion Ventures, BrightCap Ventures, DVx Ventures, and Karim Bousta.

Flexell Space, a Uiwang, South Korea-based space solar technology company, raised $20M in Series A funding. Backers included InterVest, L&S Venture Capital, QUAD Ventures, Mirae Asset Venture Investment, Mirae Asset Capital, Industrial Bank of Korea, NH Venture Investment, IBK Securities–Seoul ZV, Korea Investment & Securities, and the Korea Credit Guarantee Fund.

Emergent, a San Francisco, CA-based AI software creation platform, raised $130M in Series C funding. The round was led by Creaegis, MNI Ventures, Claypond Capital, and Sentinel Global, with participation from Khosla Ventures, SoftBank Vision Fund 2, Lightspeed, and Y Combinator.

Final Boss Sour, a Los Angeles, CA-based gaming-themed snack brand, raised $4M in funding. Backers included Evolution VC Partners, The Angel Group, Mondelez International SnackFutures Ventures, Melitas Ventures, GFR Fund, and others.

Reo.Dev, a San Francisco, CA-based AI-native go-to-market platform, raised $11.3M in Series A funding. The round was led by Elevation Capital, with participation from Heavybit, India Quotient, Foster Ventures, Uncorrelated Ventures, and angel investors and AI industry leaders.

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🗞️ Must read posts

What happens when a VC reference-checks a founder (And who they actually call): Most founders think diligence is about metrics, customers, and market size. But once a VC is serious, they often start calling former colleagues, cofounders, customers, past investors, and people you never listed as references. This piece shows founders how to understand the hidden reference-check process and prepare for it before it quietly decides the round.

Why your CV keeps getting ignored for VC jobs (And how to fix it): Most VC applicants write resumes for consulting, banking, or student roles - not for venture capital. This piece shows how to reframe your experience into three signals VC firms care about: finding startups, forming investment views, and showing initiative through proof-of-work.

NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Founders Fund, a San Francisco-based venture capital firm, hired former OpenAI VP of Product Policy Ryan Beiermeister as a partner. She will focus on investing in startups building AI infrastructure, agentic systems, defense, energy, climate, biotech, and other frontier technologies.

ReefHaven Ventures, a San Diego, CA-based early stage venture capital firm, launched. Led by Garrett Smith, PhD, Managing Partner, and Nicholas Mourlas, PhD, Investment Partner, ReefHaven Ventures invests in early-stage startups at the intersection of Artificial Intelligence and Medical Technology.

KEY STORIES IN TECH

📜 Latest In Tech

Google plans new "Frozen" chip

• Google is reportedly developing a new AI server chip, codenamed Frozen v2, that could make its Gemini models six to ten times more power-efficient than its current AI hardware.

• The chip is expected to launch in 2028 as part of Google’s strategy to improve AI performance, reduce costs, and rely less on Nvidia’s processors.

• The report boosted investor confidence ahead of Google’s earnings, highlighting the growing industry race to build custom AI chips for large-scale AI workloads.

Anthropic’s $1.5B copyright settlement receives final approval

• A U.S. federal judge has given final approval to Anthropic’s $1.5 billion copyright settlement, with authors and publishers set to receive $3,000 for each eligible copyrighted work.

• The court ruled that training AI models on copyrighted books qualifies as fair use, but found Anthropic’s downloading of books from pirate websites to be illegal, leading to the settlement.

• The decision resolves this case but does not establish a nationwide legal precedent, leaving similar copyright lawsuits against Google, OpenAI, Meta, and other AI companies unresolved.

Open-weight AI models spark debate in the U.S.

• Moonshot’s open-weight Kimi K3 model has intensified debate over whether the U.S. should restrict advanced Chinese AI models, with some OpenAI executives warning they could weaken investment in frontier AI labs.

• Supporters of open AI argue that open-weight models drive faster innovation, lower costs, and broader adoption, while critics cite concerns around national security, data protection, and U.S. AI competitiveness.

• The debate highlights a growing divide between protecting America’s leading AI companies and encouraging an open AI ecosystem, with many experts suggesting stricter AI chip export controls instead of banning open models.

Alibaba unveils Qwen3.8, ‘second only to Fable 5’

• Alibaba revealed Qwen3.8-Max in preview, a 2.4-trillion-parameter model in its flagship Qwen series that the company claims ranks second only to Anthropic’s Fable 5, sending its shares up more than 3.5 percent in overnight trading Monday.

• The new model is expected to become open-weight soon and can already be tried through Alibaba’s Token Plan, Qoder and QoderWork, arriving just days after rival Moonshot AI launched its own record-setting open model.

• Alibaba’s release adds to a wave of cheaper Chinese AI models that has hurt competitors, with Zhipu shares down more than 45 percent and MiniMax down about 13 percent over the past five days.

China weighs tighter export controls on AI models and chips

• China is reportedly considering stricter export controls on advanced AI models, model weights, training data, and semiconductor technologies to prevent key AI assets from moving overseas.

• Regulators have consulted companies including Alibaba, ByteDance, Zhipu, and Huawei on limiting foreign access to advanced AI technologies and restricting overseas chip production based on Chinese-designed semiconductors.

• The proposed measures mirror growing U.S. AI export restrictions and signal that China increasingly views advanced AI as a strategic national asset requiring tighter government oversight.

Trump’s AI standards chief resigns after three months

• Chris Fall has resigned as director of the Center for AI Standards and Innovation (CAISI) after just three months in the role, marking the second leadership departure at the agency this year.

• CAISI is responsible for developing AI testing standards and cybersecurity evaluations, but it was notably excluded from the Trump administration’s new AI safety initiative, Gold Eagle.

• The resignation comes as the U.S. debates AI regulation, frontier model safety, and how to respond to the rapid progress of Chinese open-source AI models.

LAST COFFEE SIP

☕ Other News

AliExpress fined almost $630 million over illegal product sales

• The European Commission fined AliExpress, the Chinese shopping site owned by Alibaba, €550 million (about $629 million) for letting sellers offer counterfeit and unsafe goods across the European Union, the largest penalty yet under the Digital Services Act.

• Investigators found millions of fake products, unsafe toys, and dangerous cosmetics still for sale after being flagged, and said AliExpress lacked enough staff, with screeners sometimes given just tens of seconds to judge whether an item met EU standards.

• AliExpress called the fine disproportionate and is weighing its options without saying if it will appeal, following a €200 million ($232 million) penalty against rival Temu in May for similar failures to block illegal products.

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Most aspiring VCs struggle with interviews, unclear expectations, no structured prep, and generic advice that doesn’t actually help. So we partnered with a leading investor group to build an all-in-one VC Interview Preparation Guide that gives you real clarity and frameworks. (Access Here)

• VC Analyst Fellow - 1752VC | USA - Apply Here

• Associate, AI & Data Infrastructure - BVP | USA - Apply Here

• Associate - Sowefund | France - Apply Here

• Ventures Associate - Redesign health | USA - Apply Here

• Visiting Engineer - AI fund | USA - Apply Here

• Investment Associate / Analyst - Flashpoint VC | USA - Apply Here

• VC Investment Intern - First Momentum Venture | USA - Apply Here

• Investment Associate - Antler | UK - Apply Here

• Executive Assistant - Playgroud Capital | USA - Apply Here

• Analyst - ICONIQUE Capital | USA - Apply Here

• Finance Director - AI Fund | USA - Apply Here

• Senior Investment Manager - Sagana | India - Apply Here

• Head of fund accounting - Stepstone Group | USA - Apply Here

• Associate or Senior Associate - Bessemer Partner | USA - Apply Here

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Breaking News

Meta is reportedly negotiating a deal worth up to $10 billion to provide AI computing capacity to Anthropic, potentially turning its massive AI infrastructure into a new revenue business. The agreement would also underscore the enormous demand for compute as frontier AI labs race to build more powerful models.

Chinese President Xi Jinping called for China to take a leading role in global AI development, advocating for a more open AI ecosystem and greater support for developing nations. His remarks come as AI increasingly becomes a geopolitical battleground shaped by export controls, chip restrictions, and national security concerns.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

Arq, a Barcelona, Spain-based quantum networking hardware company, raised $1.4M in Pre-Seed funding. The round was led by Ground State Ventures, with participation from Big Sur Ventures.

SEED

Pulse Security, a Los Altos, CA-based AI-driven cybersecurity platform, raised $8M in Seed funding. The round was led by Foundation Capital, with participation from Zetta Venture Partners.

Aina, a San Francisco, CA- and Bengaluru, India-based AI-native consumer hardware startup, raised $5.5M in Seed funding. The round was led by Redstart Labs and 360 ONE Asset, with participation from MIXI Global Investments, Antler, Blume Founders Fund, and angel investors including Kunal Shah, Tikhon Bernstam, Harshil Mathur, Shashank Kumar, and Vaibhav Domkundwar.

microagi, a Munich, Germany-based industrial robotics automation company, raised $55M in Seed funding. The round was led by Hummingbird, with participation from Northzone, LocalGlobe, Village Global, and redalpine.

GROWTH

ENGO, a Grenoble, France-based smart eyewear company, raised €5.1M in funding. The round was led by Ventech, Odyssée Venture, and Bpifrance.

RapidPulse, a Miami, FL-based stroke treatment medical technology company, raised $48M in Series B funding. The round was led by Medtronic, TechWald Next S.p.A., and S3 Ventures, with participation from SBI Investment Company Ltd., Florida Opportunity Fund, Santé Ventures, Syntheon, Hatteras Venture Partners, and Epidarex Capital.

Applied Computing, a London, UK-based AI company for energy operators, raised $20M in funding. The round was led by KBR, with participation from Databricks Ventures.

Neko Health, a Stockholm, Sweden-based preventive healthcare technology company, raised $700M in Series C funding. The round was led by Lightspeed Venture Partners and O.G. Venture Partners, with participation from Atomico, General Catalyst, Lakestar, Liberty City Ventures, Positive Sum, BDT and MSD, Ari Emanuel, Claudia Schiffer, and Sir Matthew Vaughn.

SWISSto12, a Renens, Switzerland-based satellite communications company, raised $70M (€61M) in Series C funding.

Flex, a San Francisco, CA-based treasury management platform, raised $70M in Series B1 funding. The round was led by Halo Fund, with participation from Portage, Wellington Management, Crosslink Capital, 53 Stations, Titanium Ventures, Spice, and Florida Funders.

Juno Bio, an Oakland, CA-based precision multi-omics company, raised $3.8M in funding. Backers included Ada Ventures, Artesian, Entrepreneur First, and Illumina Accelerator.

LimX Dynamics, a Shenzhen, China-based humanoid robotics company, raised $200M in funding. Backers included Stone Venture, GGG, Redstone VC, Lens Technology, IDG Capital, WestSummit Capital, Nio Capital, and Hefei Binhu Industry Development Group.

DAILY PICKS

🗞️ Must read posts

What really happens in the 48 hours after you pitch a VC?: Most founders think the pitch meeting decides the round. In reality, the decision often happens later, when the fund debates an internal memo written about the company. This piece shows founders how to understand the hidden 48-hour process after a pitch and how to make their company easier for an investor to champion internally.

Why your CV keeps getting ignored for VC jobs (And how to fix it): Most VC applicants write resumes for consulting, banking, or student roles - not for venture capital. This piece shows how to reframe your experience into three signals VC firms care about: finding startups, forming investment views, and showing initiative through proof-of-work.

NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Founders Fund, a San Francisco-based venture capital firm, hired former OpenAI VP of Product Policy Ryan Beiermeister as a partner. She will focus on investing in startups building AI infrastructure, agentic systems, defense, energy, climate, biotech, and other frontier technologies.

Greylock Ventures, a Silicon Valley-based venture firm, raised $1.5 billion for its 18th flagship fund. The firm will continue investing primarily in seed and Series A startups, while reserving a portion of the fund for select later-stage investments, including AI and high-growth technology companies.

KEY STORIES IN TECH

📜 Latest In Tech

Brain implant lets paralysed man eat

• Keith Thomas, a New York man paralysed from the chest down after a 2020 swimming accident, can now feed himself and drink from a cup using a brain implant that bypasses his damaged spinal cord.

• The “double neural bypass,” built by Prof Chad Bouton’s team at the Feinstein Institutes, uses brain electrodes to detect when Thomas wants to move his arms, while hand sensors send touch signals back to recreate the feeling of contact.

• After 35 weeks of training his right arm grew 86% stronger and his left 62%, and a method called cortical mirroring restored feeling to a numb area, with these gains lasting more than two years even when switched off.

Apple lawsuit could complicate OpenAI’s hardware ambitions

• Apple’s trade secrets lawsuit against OpenAI has raised questions about whether legal challenges could delay the company’s planned AI hardware products, including its rumored smart speaker.

• Industry observers believe the case could create regulatory and product development risks, especially as OpenAI prepares for a potential IPO and expands beyond software into hardware.

• OpenAI has denied Apple’s allegations, but the lawsuit adds uncertainty around its long-term hardware strategy and future product roadmap.

Jensen Huang’s Japan visit deepens Nvidia’s physical AI strategy

• Nvidia announced major partnerships across Japan with robotics, automotive, and semiconductor companies, including a national AI factory, robotics collaborations, and expanded work with Toyota.

• Japan is investing heavily in physical AI through Noetra, which will build Nvidia-powered infrastructure to develop sovereign AI models for robots, factories, and autonomous systems.

• The agreements strengthen Nvidia’s position at the center of Japan’s AI ambitions while accelerating the country’s push to become a global leader in AI-powered manufacturing and robotics.

AWS bug billed some customers billions

• An Amazon Web Services glitch in the billing portal shocked some cloud customers on Friday with estimates claiming they owed millions or even billions of dollars for services they never actually used.

• Amazon said the trouble started late Thursday and traced it to its billing computation subsystem, but a rollback of a recent change failed to fix the problem, which was expected to drag on for several more hours.

• Screenshots posted on Reddit showed one customer facing a roughly $2.5 billion estimate for the month, with others ranging into the hundreds of millions, though Amazon confirmed the numbers don’t reflect real usage or charges.

SpaceX may sell Pentagon AI computing

• SpaceX is in talks with the Pentagon to rent out its data-center space for running AI models, an arrangement that could cost the Department of Defense billions of dollars, though the discussions could still collapse.

• Musk has built up unused computing power in Memphis, with his AI startup xAI, now part of SpaceX, tapping only 11 percent of its total capacity, so selling the surplus could bring in badly needed money.

• SpaceX lost $5 billion last year while xAI burned through $6.4 billion, and the deal would extend Musk’s ties to the military, which already gave him Space Force contracts worth $2.29 billion and $4.16 billion in May.

Apple warns ex-staff to keep data

• Apple has sent legal letters to about 40 former employees now at OpenAI, ordering them to preserve documents and messages tied to its trade secrets lawsuit accusing OpenAI of stealing confidential company information.

• The letters repeat Apple’s claims of “trade secret misappropriation and breach of contract” and require the ex-staff to meet with Apple’s lawyers, while overriding routine deletion policies so destroying the data becomes a legal offense.

• The underlying suit names former Apple hardware VP Tang Tan, now OpenAI’s Chief Hardware Officer, and comes as OpenAI builds devices with former Apple designer Jony Ive; OpenAI denies knowing of any evidence supporting the claims.

Google delays Gemini 3.5 Pro over coding

• Google has pushed back the launch of its next flagship AI model, Gemini 3.5 Pro, by several months while it tries to fix the model’s overall performance, especially its weak coding skills, according to people familiar with the matter.

• The delay has reportedly worried Google engineers and researchers who fear falling behind Anthropic and OpenAI, and sources blame the company’s layered internal reviews plus the effort to weave AI across Search, Maps, and YouTube.

• Google updated Gemini’s training data late last month to sharpen its coding, but the results disappointed, and employees say limited computing power for generating code continues to hold back their productivity on the model.

LAST COFFEE SIP

☕ Other News

Apple in talks to settle DOJ case

• Apple and the US Department of Justice are in talks to settle the government’s 2024 antitrust lawsuit, which accused the company of running an illegal “smartphone monopoly,” according to a Bloomberg report.

• The lawsuit targets five parts of the iPhone experience: super apps, cloud gaming, third-party messaging, smartwatches, and digital wallets, and Apple has made “multiple offers” this year to close the case, though no deal is guaranteed.

• Apple has already made changes to address some concerns, such as adding RCS to Messages, starting a Mini Apps Partner Program, and opening up the iPhone’s NFC chip to outside developers.

HIRING ALERT: STARTUPS & VC ROLES

💼 Today’s VC & Startup Job Opportunities

Most aspiring VCs struggle with interviews, unclear expectations, no structured prep, and generic advice that doesn’t actually help. So we partnered with a leading investor group to build an all-in-one VC Interview Preparation Guide that gives you real clarity and frameworks. (Access Here)

• VC Analyst Fellow - 1752VC | USA - Apply Here

• Associate, AI & Data Infrastructure - BVP | USA - Apply Here

• Associate - Sowefund | France - Apply Here

• Ventures Associate - Redesign health | USA - Apply Here

• Visiting Engineer - AI fund | USA - Apply Here

• Investment Associate / Analyst - Flashpoint VC | USA - Apply Here

• VC Investment Intern - First Momentum Venture | USA - Apply Here

• Investment Associate - Antler | UK - Apply Here

• Executive Assistant - Playgroud Capital | USA - Apply Here

• Analyst - ICONIQUE Capital | USA - Apply Here

• Finance Director - AI Fund | USA - Apply Here

• Senior Investment Manager - Sagana | India - Apply Here

• Head of fund accounting - Stepstone Group | USA - Apply Here

• Associate or Senior Associate - Bessemer Partner | USA - Apply Here

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Breaking News

Chinese startup Moonshot unveiled Kimi K3, a 2.8-trillion-parameter open-weight AI model with a 1 million-token context window. The release marks another major step in China's push to challenge U.S. AI leaders through powerful open-source models.

The European Commission has ordered Google to let rival AI assistants integrate deeply into Android, including using the "Hey Google" wake word and performing in-app actions. The landmark ruling could reshape the mobile AI ecosystem and weaken Google's control over Android.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

Think, a Riyadh, Saudi Arabia-based AI infrastructure company, raised over $8M in Pre-Seed funding. The round was led by RAED Ventures and Wa’ed Ventures, with participation from Dhahran Techno Valley Venture Capital and strategic angel investors.

SEED

microagi, a Munich, Germany-based industrial robotics automation company, raised $55M in Seed funding. The round was led by Hummingbird, with participation from Northzone, LocalGlobe, Village Global, and redalpine.

EverSettled, a San Francisco, CA-based AI-powered estate settlement platform, raised $5M in Seed funding. The round was led by Emergence Capital, with participation from Seedcamp, Bridge Ventures, Alumni Ventures, Entrepreneurs First, and Transpose Platform.

Beacon Security, a New York City-based agentic cybersecurity platform, raised $13M in Seed funding. The round was led by Notable Capital, with participation from Holly Ventures, AlphaDrive Ventures, SVCI, Jefferies Family Office, and founders from Talon, Descope, Gem Security, Dig Security, and Cider Security.

Glacis Labs, a New York City-based crypto infrastructure company, raised $6.8M in Seed funding. The round was led by Lightspeed Faction, with participation from Franklin Templeton, Coinbase Ventures, Again (formerly IDC Ventures), Protein Capital, and Techni Ventures.

Thira, a Bellevue, WA-based AI workflow solutions company, raised $21M in Seed funding. The round was led by Madrona, with participation from FUSE and a group of global advisors and CIOs.

Intrinsic Power, a Los Angeles, CA-based AI-enabled electrical infrastructure company, raised an undisclosed Seed funding round. Backers included Kyocera Ventures, Drive Catalyst, Boost VC, and RPV Global.

Fave, a Carlsbad, CA-based organic drink mix brand, raised $1M in Seed funding. The round was led by Supernatural Ventures, with participation from Angel Group, Great Circle Ventures, and others.

GROWTH

Syntetica, a Paris, France-based chemical textile recycling company, raised $30M in Series A funding. The round was led by Bpifrance’s Ecotechnologies 2 fund, with participation from SWEN Capital Partners, EQT Ventures, Maif Avenir / Peugeot Invest, Lululemon Athletica, and MAS Holdings.

Fireworks, a San Mateo, CA-based AI model platform, raised $1.5B in Series D funding. The round was led by Atreides Management, Index Ventures, and TCV, with participation from Evantic, Lightspeed Venture Partners, and NVIDIA.

Whale, a San Francisco, CA-based enterprise AI operating system company, raised $40M in Series C3 extension funding. The round was led by CMB International and SMBC Asia Rising Fund, with participation from Krungsri Finnovate, Singtel Innov8, Hyundai Motor Group, Charisma Partners, Bosch Ventures, MTR Lab, MDI Ventures, Gentree Fund, and Linear Capital.

Bunkerhill Health, a San Francisco, CA-based AI healthcare company, raised an undisclosed Series B funding round. The round was led by Khosla Ventures, with participation from Sequoia Capital, Felicis, Optum Ventures, and Y Combinator.

Sable, a San Francisco, CA-based AI employee platform, raised $45M in funding. The round was led by Sequoia Capital and 8VC, with participation from BoxGroup, SV Angel, Valor Atreides AI Fund, Sabrina Hahn, and Evan Hahn.

DeweyLearn, a New York City-based AI learning platform, raised $5M in Series A funding. The round was led by SJF Ventures, with participation from Catalysis Capital, Morningside, and Owl Ventures.

Wonder, a New York City-based food technology platform, raised $650M in Series D funding. Backers included Accel, GV, New Enterprise Associates, AllianceBernstein, ARK Invest, and Kayne Anderson Rudnick Investment Management.

Fora, a New York City-based travel platform, raised $60M in Series D funding. The round was led by Forerunner and Tactile Ventures, with participation from Thrive Capital, Insight Partners, Heartcore Capital, PLUS Capital, Amy Schumer, BlackPines Capital Partners, and Tribeca Venture Partners.

Alpaca, a New York City-based brokerage infrastructure company, raised $135M in funding. The round was led by Peak XV, with participation from Elefund, Opera Tech Ventures, and Unbound.

Kind Designs, a Miami, FL-based climate resilience company, raised $10M in Pre-Series A funding. Backers included Kyle Kuzma, Mark Cuban, and Adrian Fenty.

Xenter, a Draper, UT-based healthcare technology company, raised $58.25M in Series B funding.

NxLite, a Canton, MI-based advanced coatings manufacturer, raised $13.1M in Series A funding. The round was led by Crabtree Lane Alt, with participation from VoLo Earth Ventures, Earth Foundry, MUUS, New Climate Ventures, and ACT Venture Partners.

InstaLILY, a New York City-based enterprise AI infrastructure company, raised $60M in Series B funding. The round was led by Energize Capital, with participation from Insight Partners, Home Depot Ventures, and United Rentals.

Hyperion Robotics, an Espoo, Finland-based physical AI infrastructure company, raised $7.4M in growth funding. The round was co-led by Course Corrected and the European Innovation Council Fund (EIC Fund), with participation from RE Ventures.

Tyred, a London, UK-based mobility technology company, raised £2.5M in funding. Backers included Raw Ventures, Ada Ventures, and angel investors.

Proaction, a Des Moines, IA-based AI-native fleet management company, raised $4.2M in funding. Backers included GTMfund, Breakers, Aviso Ventures, Iowa InnoVenture, Holman Growth Ventures, and the Iowa Economic Development Authority.

DAILY PICKS

🗞️ Must read posts

What really happens in the 48 hours after you pitch a VC?: Most founders think the pitch meeting decides the round. In reality, the decision often happens later, when the fund debates an internal memo written about the company. This piece shows founders how to understand the hidden 48-hour process after a pitch and how to make their company easier for an investor to champion internally.

The Ultimate Guide to VC Scout Programs and Fellowships (With Full Database): Most VC applicants get rejected for not having prior investing experience. Scout programs and fellowships can solve that by letting you source deals, write memos, build founder access, and prove you can do the work before getting hired. This piece breaks down the best programs, how to apply, and how to turn a scout or fellowship role into a full-time VC opportunity.

NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Founders Fund, a San Francisco-based venture capital firm, hired former OpenAI VP of Product Policy Ryan Beiermeister as a partner. She will focus on investing in startups building AI infrastructure, agentic systems, defense, energy, climate, biotech, and other frontier technologies.

Greylock Ventures, a Silicon Valley-based venture firm, raised $1.5 billion for its 18th flagship fund. The firm will continue investing primarily in seed and Series A startups, while reserving a portion of the fund for select later-stage investments, including AI and high-growth technology companies.

KEY STORIES IN TECH

📜 Latest In Tech

OpenAI starts selling ChatGPT-branded merchandise

• OpenAI has expanded into merchandise with products including a $70 ChatGPT-branded basketball, alongside apparel and accessories, following the launch of its first hardware device, the Codex Micro keyboard.

• The basketball is part of OpenAI’s “Pause. Play. Prompt.” campaign, encouraging creativity beyond screens, though the company has shared few details about the initiative.

• The launch reflects OpenAI’s broader effort to build a consumer brand beyond software, combining AI products with lifestyle merchandise.

Apple seeks chip startups for AI

• Apple is reportedly talking with bankers and semiconductor startups about buying one to strengthen the server chips it builds for running AI, according to a report from The Information.

• The move follows problems with Apple’s own AI servers, which run on its M2 Ultra chips, while its next server chip, code-named Baltra, has slipped past a planned 2026 launch.

• A large purchase would break from Apple’s habit of buying smaller startups, though it recently spent close to $2 billion on Israeli AI firm Q.ai and held talks with PrismML.

Thinking Machines launches Inkling, its first open AI model

• Thinking Machines Lab, founded by former OpenAI CTO Mira Murati, has released Inkling, its first open-weight AI model, allowing enterprises to download, fine-tune, and customize it instead of relying on closed AI APIs.

• Inkling uses a 975B-parameter mixture-of-experts architecture (41B active parameters), supports multimodal reasoning, and is optimized for efficiency rather than benchmark leadership, with revenue expected to come from its customization platform, Tinker.

• The launch reinforces the growing enterprise shift toward open and customizable AI, as companies seek greater control over costs, data, and model ownership instead of relying solely on proprietary models.

TSMC to invest another $100B in US

• TSMC, the main maker of AI chips and a key Nvidia supplier, pledged on Thursday to spend another $100 billion in Arizona, on top of the $165 billion it has already committed to build chip factories there.

• The extra money would probably fund four more plants in Arizona, including one for advanced packaging, adding to eight already being built or planned, though the timing depends on the market, CEO C.C. Wei said.

• The pledge came as TSMC posted a record quarterly profit of $22 billion, up 77%, and raised its 2026 spending forecast to as much as $64 billion, citing strong AI demand it expects to last through 2030.

PayPal board considers Stripe-led $53B takeover bid too low

• PayPal’s board believes the $53 billion acquisition offer from Stripe and Advent International undervalues the company and is also assessing potential regulatory and financing risks before responding.

• The proposed deal would combine two of the world’s largest online payments platforms, with Stripe and Advent planning to jointly own PayPal if the acquisition succeeds.

• The consortium has secured around $50 billion in financing and remains interested in a deal, but negotiations are expected to continue as PayPal evaluates its long-term turnaround strategy.

Nvidia partners with Japanese robotics firms to advance physical AI

• Nvidia has partnered with Japanese companies including Fanuc, Yaskawa Electric, Fujitsu, and Kawasaki Heavy Industries to accelerate the development of AI-powered robotics and physical AI.

• CEO Jensen Huang said AI will make robots smarter, more adaptable, and easier to deploy, while highlighting physical AI as Japan’s next major technology opportunity.

• Separately, government-backed startup Noetra announced plans to purchase 27,500 Nvidia Rubin AI chips to build infrastructure supporting next-generation physical AI systems.

Google delays Gemini 3.5 Pro launch

• Google has reportedly delayed the release of its flagship AI model, Gemini 3.5 Pro, after internal testing showed its coding performance fell short of company expectations.

• The model was originally expected to launch in June, but engineers are continuing to improve its capabilities as competition from OpenAI and Anthropic intensifies.

• Google said it is testing Gemini 3.5 Pro and other upgraded models with partners while focusing on delivering high-performance AI at competitive costs.

LAST COFFEE SIP

☕ Other News

Meta adds suicide risk alerts for parents using Meta AI

• Meta will now notify parents if its AI chatbot detects that a teenager may be discussing suicide or self-harm, with all flagged conversations manually reviewed before alerts are sent.

• The feature is rolling out through Instagram Parental Supervision in the U.S., U.K., Australia, and Canada, with a global expansion planned by the end of the year.

• Meta is also developing a system to contact emergency services when conversations indicate an imminent suicide risk and is expanding stricter AI safety settings for teen users.

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💼 Today’s VC & Startup Job Opportunities

Most aspiring VCs struggle with interviews, unclear expectations, no structured prep, and generic advice that doesn’t actually help. So we partnered with a leading investor group to build an all-in-one VC Interview Preparation Guide that gives you real clarity and frameworks. (Access Here)

• Associate - Engine Venture | USA - Apply Here

• AI Engineering Lead - Palermo Advisor | USA - Apply Here

• Investment Analyst - Peal | Remote - Apply Here

• Senior Venture Associate - Hearst | USA - Apply Here

• Operating Partner - Unusual Venture | USA - Apply Here

• Platform & Marketing Associate - March Capital | USA - Apply Here

• Senior Venture Studio Analyst - Atlantic Health System | USA - Apply Here

• Talent Investor - Associate - Entrepreneur First | India - Apply Here

• Accelerator Program Manager - Techstar | USA - Apply Here

• Associate, Life Sciences - General Atlantics | USA - Apply Here

• Venture Investment Manager - AMD | USA - Apply Here

• Partner 16, Partner 18 - a16z | USA - Apply Here

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Breaking News

Anthropic and Blackstone launched Ode, a $1.5 billion AI implementation company focused on helping enterprises redesign workflows and deploy AI at scale. The move signals that the biggest AI opportunity may be implementation—not just building better models.

Apple has received approval to launch Apple Intelligence in China by partnering with Alibaba's Qwen models, ending months of uncertainty over its AI strategy in one of its largest markets. The deal gives Apple a major boost as it looks to regain momentum in China.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

Think, a Riyadh, Saudi Arabia-based AI infrastructure company, raised over $8M in Pre-Seed funding. The round was led by RAED Ventures and Wa’ed Ventures, with participation from Dhahran Techno Valley Venture Capital and strategic angel investors.

Lyora Therapeutics, a Providence, RI-based biotech company, raised $2.5M in Pre-Seed funding.

SEED

Oak, a Tel Aviv, Israel-based AI-native identity operating system provider, raised $60M in Seed funding. The round was led by Accel, Greylock Partners, and CRV, with participation from Hetz Ventures, AlphaDrive Ventures, and strategic angel investors.

Pure, a San Francisco, CA-based financial infrastructure platform for peer-to-peer games, raised $8M in Seed funding. The round was led by Hidden Capital, with participation from MaC Venture Capital, Ludlow Ventures, Goodwater Capital, SignalFire, Z Fellows, Jake Brooks, and Alex Pall.

Nous, a Cantù, Italy-based food ingredient technology company, raised €2.315M in Seed funding. The round was led by dsm-firmenich Ventures, with participation from FoodSeed, CDP Venture Capital, Eatable Adventures, and Accelera Ventures.

Auxilium Health, a Cleveland, OH-based wound care medical technology startup, raised $3.4M in Seed funding.

GROWTH

Spectro Cloud, a San Jose, CA-based AI infrastructure management software company, raised more than $100M in Series D funding. The round was led by Growth Equity at Goldman Sachs Alternatives, with participation from AMD Ventures, Ericsson, LG Technology Ventures, and Maximus.

Hemispheric, a Tel Aviv, Israel-based NeuroAI company, raised $52M in funding. Backers included Hanaco Ventures, OneMind/Awareness Capital, Protocol Labs, L Catterton, Arkin Capital, Howard Morgan, Naomi Azrieli, Yasmin Lukatz, and Scott Belsky.

Lumin Digital, a San Ramon, CA-based banking technology platform, raised $115M in funding.

Rime, a San Francisco, CA-based enterprise voice AI platform, raised $24M in Series A funding. The round was led by M13, with participation from Twilio Ventures, Corazon Capital, Unusual Ventures, and existing investors.

Speakeasy, a New York City-based operations platform for live experiences, raised an undisclosed funding round. The round was led by Positive Sum, with participation from Yamaha’s Music Innovations Fund and strategic investors.

Cyclops, a Miami, FL-based stablecoin infrastructure company, raised $20M in Series A funding. The round was led by Nava Ventures, with participation from Castle Island Ventures, Coinbase Ventures, Circle, Lasagna Ventures, and Global PayTech Ventures.

TytoCare, a New York City-based remote healthcare technology company, raised $25M+ in funding. The round was led by Insight Partners, with participation from existing strategic investors.

Risk Ledger, a London, UK-based supply chain security platform, raised £24M in Series B funding. The round was led by Axiom Equity, alongside Mercia Ventures.

Monumental, an Amsterdam, The Netherlands-based construction robotics company, raised $32M in Series B funding. The round was led by Khosla Ventures, with participation from Hummingbird, Plural, and existing investors.

Walden Robotics, a Cambridge, MA-based physical AI robotics company, raised $300M in funding. The round was co-led by Toyota and Deviation Capital, with participation from NVIDIA, Boeing, AE Ventures, Samsung Ventures, Prologis Ventures, CoreWeave Ventures, Calibrate Ventures, Colle Capital, Shine Capital, NextView Ventures, Squarepoint Capital, One Madison Group, KAS Venture Partners, and Menlo Ventures.

AdvanCell, a Boston, MA- and Brisbane-based radiopharmaceutical company, raised US$315M in Series D funding. The round was led by Ally Bridge Group and Alpha Wave, with participation from Bain Capital Life Sciences, Fidelity Management and Research Company, T. Rowe Price Associates, Eventide Asset Management, and Velosity Capital.

Senra Systems, a Cypress, CA-based manufacturing technology company, raised $65M in Series B funding. The round was led by Lowercarbon Capital and Interlagos, with participation from General Catalyst, Sequoia Capital, Andreessen Horowitz, Founders Fund, Dylan Field, CIV, 8VC, The Friedkin Group, Jaws Estates Capital, Sozo Ventures, and Alumni Ventures.

InsideDesk, a Toronto, Canada-based AI-powered dental revenue cycle management platform, raised $12.6M in funding. The round was led by Pender Ventures, with participation from Round13 Capital and Graphite Ventures.

Float, a Stockholm, Sweden-based revenue-based financing platform, raised €4.5M in Series A funding. The round was led by CHAPTERS Group AG.

Cover Genius, a New York City-based embedded protection infrastructure company, raised $100M in funding. Backers included Vista Credit Partners.

DAILY PICKS

🗞️ Must read posts

You’re benchmarking your AI spend against the wrong number: Most startups ask the wrong question: “How much are we spending on AI?” This piece shows why founders should instead ask what each AI tool is replacing - a person, a workflow, or a product cost. It gives founders a simple 30-minute audit to separate useful AI spend from wasted subscriptions and reallocate money toward automation that actually compounds.

Fix the workflow before automating it: Many startups are using AI to move faster, but speed only helps when the underlying workflow is right. This piece shows how automating messy processes can quietly increase costs, hurt customer experience, and damage growth and why the winners redesign workflows before they automate them.

NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Greylock Ventures, a Silicon Valley-based venture firm, raised $1.5 billion for its 18th flagship fund. The firm will continue investing primarily in seed and Series A startups, while reserving a portion of the fund for select later-stage investments, including AI and high-growth technology companies.

Isogon Ventures, a New York City and Madrid, Spain-based early-stage venture capital firm, is raising its first fund. According to a regulatory form filed with the SEC, Isogon Ventures I, L.P., is targeting up to $150m in commitments but has not raised any sum, yet.

KEY STORIES IN TECH

📜 Latest In Tech

Apple Intelligence cleared for launch in China

• China has approved the launch of Apple Intelligence, with Apple integrating Alibaba’s Qwen AI models into iOS, iPadOS, macOS, and visionOS to bring its AI features to Chinese users.

• The partnership follows reported talks with Baidu, DeepSeek, and ByteDance that failed to materialize, making Alibaba the key AI partner for Apple’s China strategy.

• The approval strengthens Apple’s position in a critical market, where Greater China revenue recently rose 28%, while Alibaba’s shares climbed following news of the partnership.

Microsoft reportedly trains sales team to challenge OpenAI and Anthropic

• Microsoft is reportedly coaching its sales teams to position Copilot and its in-house AI models against rivals like OpenAI, Anthropic, and Google, emphasizing lower costs, stronger enterprise security, and tighter Microsoft 365 integration.

• Executives reportedly argued Microsoft offers a complete end-to-end AI platform, while also claiming Anthropic’s Claude is slower, less accurate, and less integrated with Microsoft apps.

• The move reflects Microsoft’s growing push to rely on its own AI models as its partnership with OpenAI becomes less exclusive and competition in enterprise AI intensifies.

OpenAI launches Codex Micro, a $230 AI coding keyboard

• OpenAI has unveiled Codex Micro, a $230 limited-edition keyboard built with Work Louder that acts as a dedicated controller for Codex AI coding agents, featuring agent status keys, programmable shortcuts, and a reasoning control dial.

• The keyboard is designed as a command center for managing AI coding workflows through the ChatGPT desktop app, marking OpenAI’s first commercial hardware product.

• The launch comes as OpenAI expands into hardware while facing Apple’s trade secret lawsuit, alongside reports that it’s developing a screenless AI companion device with former Apple engineers.

Thinking Machines launches Inkling, its first open AI model

• Thinking Machines Lab, founded by former OpenAI CTO Mira Murati, has released Inkling, its first open-weight AI model, allowing enterprises to download, fine-tune, and customize it instead of relying on closed AI APIs.

• Inkling uses a 975B-parameter mixture-of-experts architecture (41B active parameters), supports multimodal reasoning, and is optimized for efficiency rather than benchmark leadership, with revenue expected to come from its customization platform, Tinker.

• The launch reinforces the growing enterprise shift toward open and customizable AI, as companies seek greater control over costs, data, and model ownership instead of relying solely on proprietary models.

White House launches AI cyber defense

• The White House has created a new group called “Gold Eagle” that unites AI developers and critical service providers to strengthen national cybersecurity by sharing information about software flaws found by AI systems.

• Set up after an executive order President Trump signed on June 2, the group includes the White House, Homeland Security, the Treasury, the Department of War, and private companies handling US critical infrastructure and open-source software.

• Gold Eagle has begun receiving and ranking vulnerability reports across industries, using AI to cut down duplicate scanning and quickly pass threat and repair details to those defending federal and private sector systems.

LAST COFFEE SIP

☕ Other News

UK plans teen social media curfew

• The UK will make social media companies automatically block users aged 16 and 17 from platforms between midnight and 6 am, a curfew feature teens can choose to switch off themselves.

• The optional overnight lockout comes with a full ban on social media for children under 16, expected in spring 2027, and turns off autoplaying videos and personalized feeds by default for older teenagers.

• The Department for Science, Innovation & Technology also plans mandatory chatbot breaks for under-18s, bans on AI that fakes romantic talk, and updated school lessons on AI, bias, and disinformation.

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Most aspiring VCs struggle with interviews, unclear expectations, no structured prep, and generic advice that doesn’t actually help. So we partnered with a leading investor group to build an all-in-one VC Interview Preparation Guide that gives you real clarity and frameworks. (Access Here)

• Associate - Engine Venture | USA - Apply Here

• AI Engineering Lead - Palermo Advisor | USA - Apply Here

• Investment Analyst - Peal | Remote - Apply Here

• Senior Venture Associate - Hearst | USA - Apply Here

• Operating Partner - Unusual Venture | USA - Apply Here

• Platform & Marketing Associate - March Capital | USA - Apply Here

• Senior Venture Studio Analyst - Atlantic Health System | USA - Apply Here

• Talent Investor - Associate - Entrepreneur First | India - Apply Here

• Accelerator Program Manager - Techstar | USA - Apply Here

• Associate, Life Sciences - General Atlantics | USA - Apply Here

• Venture Investment Manager - AMD | USA - Apply Here

• Partner 16, Partner 18 - a16z | USA - Apply Here

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Breaking News

OpenAI is reportedly building a screenless AI companion that learns from users, integrates deeply with ChatGPT, and has been designed with former Apple engineers. The device signals OpenAI's push beyond software into consumer hardware, taking on Apple, Google, and Amazon.

A group of Meta employees alleges the company used AI-powered rankings to target workers with disabilities, medical leave, and caregiving responsibilities during layoffs. If proven, the case could become the first major legal test of AI-driven employment decisions in the U.S.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

Avelin AI, a Dubai, UAE-based sovereign AI platform provider, raised $3.7M in Pre-Seed funding.

Factor X, a Tel Aviv, Israel-based RNA-based skin longevity technology company, raised an undisclosed Pre-Seed funding round.

Neothera, a Mumbai, India-based dermatology startup, raised $1.1M in Pre-Seed funding. The round was led by Blume Ventures, with participation from Barbershop Fund, Consumer Collective by Atrium, Veltis Capital, and a

SEED

Prolo, a London, UK-based AI-powered procurement platform for construction SMEs, raised £4.2M in Seed funding. The round was led by Triple Point Ventures, with participation from a16z Scout Fund, Anamcara Capital, Concrete VC, Foundation Ventures, Haatch, Koro Capital, Love Ventures, and Portfolio Ventures.

Linker Finance, a Pasadena, CA-based modular banking platform, raised $5M in Seed funding. Backers included Chingona Ventures, Ten One Ten Ventures, Audaz Capital, Angeles Investors, and 22nd State Banking Company.

GROWTH

Gridcog, a London, UK-based energy flexibility modelling platform, raised $10M in Series A funding. The round was led by ABB, with participation from Axpo, DNV Ventures, Verbund X Ventures, Albion VC, and Clean Energy Finance Corporation.

Draig Therapeutics, a Cardiff, UK-based neuropsychiatric therapeutics company, raised $65M in Series B funding. The round was led by Deep Track Capital, with participation from Janus Henderson Investors, Marshall Wace, British Business Bank, and Jefferson Life Sciences.

Drug Farm, a New York City- and Shanghai-based biotechnology company, raised $55M in the first close of its Series D financing. The round was backed by Shanghai Pudong Leading Area Investment Center, Shanghai Puxing Collaborative Private Equity Fund Partnership Enterprise, Tukar Capital, Fuzhou Xinhe Fund, Shenzhen Luohu Donghai Chempartner Investment Fund, and Keyuan Pharma.

Valarian, a London, UK-based sovereign AI infrastructure company, raised $50M in Series A funding. The round was led by New Enterprise Associates (NEA), with participation from Lightbank, XTX Markets, Sequel, LitVC, and angel investors Gokul Rajaram and Nikesh Arora.

Quadric, a Burlingame, CA-based AI inference processor company, extended its Series C to $46M. The round was led by International Finance Corporation, with participation from Pear VC, Uncork Capital, BEENEXT, and Offline Ventures.

Singularity, a Los Angeles, CA-based defense technology company, raised $80M in Series A funding. The round was led by Khosla Ventures and Felicis, with participation from AE Ventures, NEA, Long Journey, Harpoon, Menlo Ventures, Y Combinator, Decisive Point, New Vista, Sunflower, and Soma.

Chai Discovery, a San Francisco, CA-based AI drug discovery company, raised $400M in Series C funding. The round was led by Index Ventures, Kleiner Perkins, Sequoia Capital, and Dimension, with participation from Bain Capital Ventures, Battery Ventures, Baillie Gifford, and BDT and MSD.

Velocity, a London, UK-based stablecoin treasury platform, raised $38M in Series A funding. The round was led by Dragonfly and FirstMark, with participation from Activant Capital, Capital One Ventures, QED Investors, Coinbase Ventures, Wintermute Ventures, and Ripple.

Feathery, a San Francisco, CA-based AI decisioning platform for financial services, raised $30M in total funding, including its Series A. Backers included Portage Ventures, Index Ventures, Allstate Strategic Ventures, Clocktower Ventures, Erie Strategic Ventures, and Bain Capital Ventures.

TerraFirma, an Austin, TX-based construction technology company, raised $100M in Series A funding. The round was led by Kleiner Perkins, with participation from Bain Capital Ventures, Glade Brook Capital Partners, BANNER VC, Saga Ventures, Trust Ventures, Definition, PEAK6, Magnetar Capital, and Ravelin Capital.

Hadrius, a New York City-based compliance infrastructure platform, raised $27M in combined Seed and Series A funding. The round was led by CRV, with participation from Y Combinator, Pathlight Ventures, and the founders of Altruist, Jump AI, and FINNY.

Pact Labs, a San Francisco, CA-based blockchain infrastructure company, raised $7M in Series A funding. The round was led by Tether, with participation from Blockchange Ventures and Lasagna.

410 Medical, a Durham, NC-based medical device company, raised $12M in funding. The round was led by Orlando Health Ventures, with participation from Hatteras Venture Partners, Ballad Health, OSF Healthcare, Rex Health Ventures, CU Healthcare Innovations Fund, Sarnova, Catalyst by Wellstar, Tampa General, and a strategic investor.

TYLsemi, a San Jose, CA-based chiplet platform company, raised $43M in funding. The round was led by Matter Venture Partners, with participation from Viola Ventures, GHOVC, Egis Technology, and others.

Sabanto, a Chicago, IL-based autonomous agriculture technology company, raised an undisclosed Series B funding round. The round was led by Leaps by Bayer, with participation from Sustainable Forward Capital, InnoVenture Iowa, Fulcrum Global Capital, DCVC, and Yara.

State Affairs, a Washington, DC-based AI-powered policy intelligence platform, raised $70M in total funding. Investors included Founders Fund, Khosla Ventures, Tru Arrow Partners, Alumni Ventures, Marcus Brauchli, Alex Mather, Adam Hansmann, and Richard Sarnoff.

DAILY PICKS

🗞️ Must read posts

You’re benchmarking your AI spend against the wrong number: Most startups ask the wrong question: “How much are we spending on AI?” This piece shows why founders should instead ask what each AI tool is replacing - a person, a workflow, or a product cost. It gives founders a simple 30-minute audit to separate useful AI spend from wasted subscriptions and reallocate money toward automation that actually compounds.

Fix the workflow before automating it: Many startups are using AI to move faster, but speed only helps when the underlying workflow is right. This piece shows how automating messy processes can quietly increase costs, hurt customer experience, and damage growth and why the winners redesign workflows before they automate them.

NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Isogon Ventures, a New York City and Madrid, Spain-based early-stage venture capital firm, is raising its first fund. According to a regulatory form filed with the SEC, Isogon Ventures I, L.P., is targeting up to $150m in commitments but has not raised any sum, yet.

Paradigm, a U.S.-based venture capital firm founded by Matt Huang and Fred Ehrsam, raised $1.2 billion for its latest fund. The firm will invest in startups across crypto, AI, robotics, and other technical frontier technologies, expanding beyond its traditional cryptocurrency focus.

KEY STORIES IN TECH

📜 Latest In Tech

DeepSeek eyes $71B valuation ahead of potential IPO

• DeepSeek is reportedly seeking to raise $1.5 billion at a $71 billion valuation and is targeting an IPO by 2027, though a public listing could happen as early as later this year.

• The Chinese AI startup has rapidly grown since launching in 2023, with its models processing nearly 23% of enterprise AI traffic on Vercel in June, second only to Anthropic.

• Despite U.S. chip export restrictions, DeepSeek continues to compete with leading U.S. AI labs using Huawei-powered infrastructure, backed by investors including Tencent and China’s National AI Industry Investment Fund.

Anthropic’s latest AI ad sparks backlash

• Anthropic’s new ad, “There’s hope in hard questions,” has drawn criticism for its dark imagery—including burning homes, surveillance, homelessness, and cemeteries—intended to highlight concerns around AI.

• OpenAI CEO Sam Altman mocked the campaign, while many people online described the ad as unsettling, arguing its messaging felt overly pessimistic and disconnected from public sentiment.

• The campaign reflects Anthropic’s strategy of positioning itself as the safety-focused AI company, but the controversial execution has generated more criticism than praise.

Google faces new AI copyright lawsuit from publishers

• Major publishers including Hachette, Cengage, Elsevier, and several authors have sued Google, alleging it used copyrighted books without permission to train Gemini and removed copyright information to conceal the practice.

• The plaintiffs claim Google exceeded the limited permissions granted through programs like Google Books and Google Play, using those works for AI training without authorization.

• The lawsuit adds to the growing legal battle over AI training data and could test Google’s fair use defense in a New York court, despite recent California rulings favoring AI companies.

OpenAI’s GPT-5.6 Sol raises concerns over autonomous file deletion

• Some developers report that GPT-5.6 Sol deleted files, databases, and other resources without explicit permission, prompting concerns about the model’s overly autonomous behavior.

• OpenAI had already warned in its system card that Sol can be overly agentic, sometimes taking destructive actions or using credentials beyond a user’s intended authorization if instructions aren’t explicit.

• The incidents highlight the importance of safeguards such as limited permissions, backups, and testing AI agents in isolated environments before giving them access to production systems.

DeepMind CEO proposes independent AI safety regulator

• Google DeepMind CEO Demis Hassabis has proposed creating an independent standards body to evaluate frontier AI models before release, similar to how FINRA oversees the financial industry.

• Under the proposal, AI labs would initially submit advanced models for voluntary review up to 30 days before launch, with the possibility of mandatory certification for deployment in the U.S. later.

• Hassabis argues an industry-funded, independently operated body could improve AI safety oversight while avoiding heavy-handed government regulation and keeping pace with rapid AI advances.

Global smartphone shipments hit 13-year low

• Global smartphone shipments fell 11% year-on-year in the second quarter, marking the weakest three-month period in over a decade as ongoing DRAM and NAND memory shortages dragged the industry down to its lowest sell-in figure since 2013.

• The rising cost of memory is being passed to buyers through higher device prices, with entry- and mid-tier phones hit hardest, making it unfeasible for vendors to keep producing them at their previous price points.

• Samsung and Apple both grew shipments and market share despite the slump, reaching 24% and 20% respectively, while Xiaomi, Oppo and vivo all declined and Google and Huawei posted solid gains outside the top five.Global smartphone shipments hit 13-year low

12 states sue to block Paramount's $110B Warner Bros. deal

• A coalition of 12 state attorneys general, led by California’s Rob Bonta, filed a lawsuit to block the merger of Paramount Skydance and Warner Bros. Discovery, saying it would harm theaters, cable distributors, and audiences.

• The states argue the deal violates the Clayton Act and would give Paramount 27% of U.S. film distribution, 30% of blockbuster movie distribution, and 27% of the basic cable channel market, lessening competition.

• The merger, which combines Paramount+ and HBO Max plus networks like CBS, MTV, CNN, and HBO, already got approval from WBD shareholders and the Justice Department, with CEO David Ellison targeting a September close.

Stripe and Advent bid $53B+ to acquire PayPal

• Stripe and private equity firm Advent International have reportedly offered to acquire PayPal for $60.50 per share, valuing the payments company at more than $53 billion with around $50 billion in committed financing.

• The proposed deal would give Stripe and Advent equal ownership of PayPal, aiming to strengthen its position as competition intensifies across the digital payments market.

• The offer reflects growing consolidation in fintech as payment companies pursue scale, AI capabilities, and faster-growing segments such as cross-border and business payments.

LAST COFFEE SIP

☕ Other News

New York State halts construction of all new data centers

• New York has become the first U.S. state to temporarily halt permits for new data centers larger than 50 megawatts, citing concerns over electricity demand, water use, noise, and local community impacts.

• The moratorium will remain in place while the state completes an environmental review, with officials also considering new grid fees and removing tax incentives for hyperscale data centers.

• The move reflects growing public scrutiny of AI infrastructure and could influence similar policies elsewhere as demand for massive AI data centers continues to accelerate.

HIRING ALERT: STARTUPS & VC ROLES

💼 Today’s VC & Startup Job Opportunities

Most aspiring VCs struggle with interviews, unclear expectations, no structured prep, and generic advice that doesn’t actually help. So we partnered with a leading investor group to build an all-in-one VC Interview Preparation Guide that gives you real clarity and frameworks. (Access Here)

• Associate - Engine Venture | USA - Apply Here

• AI Engineering Lead - Palermo Advisor | USA - Apply Here

• Investment Analyst - Peal | Remote - Apply Here

• Senior Venture Associate - Hearst | USA - Apply Here

• Operating Partner - Unusual Venture | USA - Apply Here

• Platform & Marketing Associate - March Capital | USA - Apply Here

• Senior Venture Studio Analyst - Atlantic Health System | USA - Apply Here

• Talent Investor - Associate - Entrepreneur First | India - Apply Here

• Accelerator Program Manager - Techstar | USA - Apply Here

• Associate, Life Sciences - General Atlantics | USA - Apply Here

• Venture Investment Manager - AMD | USA - Apply Here

• Partner 16, Partner 18 - a16z | USA - Apply Here

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• Reach 125,000+ Founders & Investors: Partner with our newsletter to reach a highly engaged audience.

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Do you have any news to share about your Startup or VC fund? Please email us.

We’ll be back in your inbox on Tomorrow.

Share

Breaking News

SK Hynix says AI-driven demand for memory chips will outpace manufacturing capacity through the end of the decade, despite massive global investments. The warning suggests memory shortages—and higher hardware costs—could remain a defining challenge of the AI boom for years.

Apple claims a former engineer exploited an undisclosed security flaw after joining OpenAI, allowing him to access Apple's internal network for weeks and allegedly steal confidential files related to unreleased products. The lawsuit raises the stakes in the growing legal battle between Apple and OpenAI.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

Avelin AI, a Dubai, UAE-based sovereign AI platform provider, raised $3.7M in Pre-Seed funding.

Factor X, a Tel Aviv, Israel-based RNA-based skin longevity technology company, raised an undisclosed Pre-Seed funding round.

Neothera, a Mumbai, India-based dermatology startup, raised $1.1M in Pre-Seed funding. The round was led by Blume Ventures, with participation from Barbershop Fund, Consumer Collective by Atrium, Veltis Capital, and a syndicate of angel investors.

Edysor.ai, an Udaipur, India-based voice AI sales software company, raised $144K in Pre-Seed funding. The round was led by Jasmine Sarupria.

Auxilius, a Munich, Germany-based AI-native governance, risk and compliance solutions company, raised €1.3M in Pre-Seed funding. The round was led by HTGF, with participation from Techstars and business angels.

HyperDev, a Cape Town, South Africa-based generative AI software development platform, raised $1M in Pre-Seed funding. Backers included Loom Ventures and other European venture capital investors.

SEED

Ravee Optics, a Dayton, OH-based laser communication systems company, raised $6M in Seed funding. The round was led by BIG Capital, with participation from JobsOhio Ventures and CincyTech.

Guthrie AI, a Philadelphia, PA-based construction technology company, raised $4M in Seed funding. The round was led by Chicago Ventures.

Gradium, a Paris, France-based AI voice generation infrastructure company, raised $30M in Seed extension funding.

Finto, a Munich, Germany-based AI accounting automation startup, raised $3.4M in Seed funding. Backers included Y Combinator, Gradient, and Lightspeed Venture Partners.

Aardaia, a Wageningen, The Netherlands-based agricultural technology company, raised €5M in Seed funding. The round was led by Point Nine, with participation from FoodLabs, Astanor, Grey Silo, and strategic agritech angel investors.

Milo Drive, a Mumbai, India-based EV fleet software platform, raised $2.4M in Seed funding. The round was co-led by Caret Capital and Antler, with participation from Alteria Capital, IAN Capital, Climate Angels, and Aureolis Capital.

Skapion, a Washington, D.C.-based autonomous counter-drone defense company, raised $36M in Seed funding. The round was co-led by UP.Partners and Khosla Ventures, with participation from Fusion VC, Stratos Ventures, TBD VC, and q Fund.

Piq Energy, a San Francisco, CA-based agentic grid planning platform, raised $5M in Seed funding. The round was led by Active Impact Investments, with participation from Cisco Foundation, Mobilize AI x Energy Ventures, New Climate Ventures, Ascent Energy Ventures, Umami Capital, CLAI Ventures, and 9Zero.

GROWTH

Keyper, a Dubai, UAE-based proptech company, raised $11M in Series A funding. The round was led by Speedinvest, with participation from NeoVentures, Middle East Venture Partners, Dubai Future District Fund, Property Finder, Arab National Bank, Ellington Properties, Dar Ventures, and Abbey Road Investment Group.

Augmodo, a Seattle, WA-based wearable spatial computing company, raised $21M in funding. The round was led by TQ Ventures, with participation from Lerer Hippeau, Jefferson River Capital, Arena Holdings, Chemist Warehouse, New Fare, Interlace, and Webb Investment Network.

Gauntlet Networks, a New York City-based DeFi risk infrastructure company, raised $125M in Series C funding. The round was led by SBI Holdings USA.

Doctorsa, a Milan, Italy-based travel healthcare platform, raised €1M in funding. The round was led by PranaVentures, with participation from Vento and 40Jemz Ventures.

Raxio, an Amsterdam, The Netherlands-based data centre platform provider, raised $30M in extension funding. Backers included Roha and Meridiam.

Reformed, a London, UK-based wellness beverages company, raised $22M in Series A funding. The round was led by Iris Ventures.

Lissi GmbH, a Frankfurt, Germany-based EUDI wallet and verifiable credentials company, raised €3.5M in funding. The round was led by Ventech, with participation from BM H Beteiligungs-Managementgesellschaft Hessen, main incubator, and Ninepointfive Ventures.

Bohr Energie, a Toulouse, France-based renewable energy aggregation platform, raised €10M in Series A funding. The round was led by Suma Capital.

DAILY PICKS

🗞️ Must read writeups

What founders should never automate: AI can save founders hours, but automating the wrong tasks can quietly kill product-market fit. This piece explains how to separate low-signal busywork from high-signal customer interactions, so founders automate internal repetition first and protect the conversations that reveal what customers actually need. (Read Here)

Get hired in VC before the interview: Most VC applicants send resumes. This piece shows how to stand out by doing the actual work first: finding startups, speaking with founders, writing deal snapshots, and sending useful opportunities to investors. It gives aspiring VCs a 30-day system to build proof of judgment, sourcing ability, and founder access before asking for a job. (Read Here)

NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Isogon Ventures, a New York City and Madrid, Spain-based early-stage venture capital firm, is raising its first fund. According to a regulatory form filed with the SEC, Isogon Ventures I, L.P., is targeting up to $150m in commitments but has not raised any sum, yet.

Paradigm, a U.S.-based venture capital firm founded by Matt Huang and Fred Ehrsam, raised $1.2 billion for its latest fund. The firm will invest in startups across crypto, AI, robotics, and other technical frontier technologies, expanding beyond its traditional cryptocurrency focus.

KEY STORIES IN TECH

📜 Latest In Tech

Satya Nadella warns enterprises about hidden AI costs

• Microsoft CEO Satya Nadella warned that companies using proprietary AI models may be giving away valuable business knowledge through prompts, corrections, and workflows, effectively “paying twice” for AI.

• He argued enterprises should retain ownership of their AI data, avoid vendor lock-in with orchestration layers, and increasingly consider running open-source models in controlled environments.

• Nadella’s comments reinforce the growing enterprise shift toward open-source AI, as companies prioritize lower costs, greater control, and stronger data privacy.

Sam Altman questions the future of space data centers

• Sam Altman criticized Elon Musk’s plans for orbital AI data centers, arguing the business is unrealistic in the near term because launch costs and satellite manufacturing remain too expensive.

• Industry experts largely agree that space-based AI infrastructure is unlikely to become commercially viable until reusable rockets and mass-produced satellites significantly reduce costs, likely in the 2030s.

• SpaceX believes Starship will eventually make the economics work, but analysts note the company still faces major technical and operational hurdles before space data centers can scale.

200 economists warn they can't tell if AI is killing jobs

• More than 200 economists, including 16 Nobel laureates and the chief economists at OpenAI and Anthropic, signed a statement this week admitting the profession cannot tell whether AI is actually eliminating jobs.

• The statement, called “We Must Act Now” and released Monday, offers no answers but three warnings: AI may grow far more powerful, reshape the economy faster than the Industrial Revolution, and cause large-scale job displacement.

• Torsten Slok of Apollo argues that “AI exposure” is contested by five competing measurement frameworks that disagree most for at-risk jobs like telemarketers, tax preparers, and writers, making the label far less meaningful than it seems.

China's BrainCo bets on wearable brain tech over implants

• China’s BrainCo has chosen to build brain-computer interfaces worn outside the skull, using headbands and caps that read electrical signals through the scalp, rather than joining the surgical implant race led by companies like Neuralink.

• The Hangzhou firm makes FDA-approved bionic hands that turn an amputee’s neural and muscular signals into finger movements, plus consumer wearables like a sleep aid using low-intensity electrical pulses aimed at stress-related neurochemicals.

• BrainCo raised about 2 billion yuan, roughly $280m, co-led by IDG Capital, but faced fierce backlash in 2019 when its Focus headbands scored primary school children’s attention, prompting the local education bureau to halt the trial.

Apple deepens AI partnership with Google

• Apple is expanding its use of Google’s Gemini models after suing OpenAI over alleged trade secret theft, signaling a shift in its AI strategy.

• Despite integrating ChatGPT into Apple devices in 2024, Apple has reportedly relied increasingly on Gemini since early 2026, with Google’s technology playing a larger role in recent Siri improvements.

• The legal dispute with OpenAI and the growing partnership with Google highlight Apple’s effort to diversify its AI stack while reducing dependence on a single AI provider.

LAST COFFEE SIP

☕ Other News

Apple fast-tracks AI-focused M7 chip after brief M6 era

• Apple is speeding up work on its AI-focused M7 chip family, deciding not to finish the M6 lineup after judging planned neural-processing upgrades important enough to move the newer generation forward.

• The top-tier M7 Ultra could support 1.5TB of RAM and launch in 2028, aiming to bring AI performance closer to dedicated accelerators like NVIDIA’s Blackwell, according to a Bloomberg report.

• Apple reportedly started taping out the M7 just six months after the M6, pointing to the base M7 in early 2027, Pro and Max versions late that year, and the Ultra in 2028.

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💼 Today’s VC & Startup Job Opportunities

Most aspiring VCs struggle with interviews, unclear expectations, no structured prep, and generic advice that doesn’t actually help. So we partnered with a leading investor group to build an all-in-one VC Interview Preparation Guide that gives you real clarity and frameworks. (Access Here)

• Associate or Senior Associate - Bessemer Partner | USA - Apply Here

• Associate - Primary VC | USA - Apply Here

• VP — Finance & Compliance - Transition VC | India - Apply Here

• Senior Associate - ICONIQUE CAPITAL | USA - Apply Here

• Ventures Associate - Plug and Play Tech Centre | USA - Apply Here

• Fund Operations Analyst - Indogen Capital | Indonesia - Apply Here

• Investment Associate / Analyst - Flashpoint | UK - Apply Here

• Venture Capital Analyst - MicroVentures | USA - Apply Here

• Hard Tech Investment Associate - Upfront Venture | USA - Apply Here

• Associate - Engine Venture | USA - Apply Here

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Breaking News

Apple has sued OpenAI, alleging former Apple engineers took confidential designs and engineering documents to help build OpenAI's hardware products. The lawsuit escalates competition between the two companies as both race to define the future of AI devices.

Researchers at UC San Diego used a humanoid robot to assist in gallbladder surgery on a living patient—the first documented case of its kind. While fully autonomous surgery is still years away, the milestone highlights how humanoid robots are beginning to enter real-world healthcare.

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• FDA review is already underway for Finless sashimi-grade tuna product

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• Backed by Draper Associates, SOSV/IndieBio, At One Ventures, and Sustainable Ocean Alliance

• First US cell-cultured seafood company, founded in 2017, with nearly a decade of R&D behind them

As ocean ecosystems face more pressure and global demand for premium seafood keeps climbing, the case for cultivated seafood gets a lot stronger. Finless Foods has spent years building toward this moment.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

Sherpa, a Munich, Germany-based provider of an AI operating system for external workforce management, raised $2.2M in Pre-Seed funding. The round was co-led by Seedcamp, DN Capital, Activant Capital, and Brighteye.

SEED

Marker, a London, UK-based developer of an AI-native word processor and collaborative authoring platform, raised $13M in Seed funding. The round was led by Index Ventures, with participation from LocalGlobe and strategic angel investors including Steve Newman, Cal Henderson, and Thomas Wolf.

Piq Energy, a San Francisco, CA-based provider of an agentic grid planning platform, raised $5M in Seed funding. The round was led by Active Impact Investments, with participation from Cisco Foundation, Mobilize AI x Energy Ventures, New Climate Ventures, Ascent Energy Ventures, Umami Capital, CLAI Ventures, and 9Zero.

GROWTH

Aria, a Paris, France-based embedded invoice financing platform, raised €7M in Series A extension funding. The round was led by 115K, with participation from 13books Capital.

Lissi GmbH, a Frankfurt, Germany-based provider of EUDI wallet and verifiable credentials services, raised €3.5M in funding. The round was led by Ventech, with participation from BM H Beteiligungs-Managementgesellschaft Hessen, main incubator, and Ninepointfive Ventures.

Bohr Energie, a Toulouse, France-based renewable energy aggregation platform, raised €10M in Series A funding. The round was led by Suma Capital.

Hephae Energy Technology Corp., a Houston, TX-based geothermal robotics company, raised $17.8M in Series A funding. The round was led by Susquehanna Sustainable Investments and Underground Ventures, with participation from alfa8, Baruch Future Ventures, Centaurus Capital, Elemental Impact, Exa Ventures, Future Ventures, Grantham Foundation, New System Ventures, True North Institute, and Nabors Industries.

Kraken Technology, a Fareham, UK-based maritime defense startup, raised $175M in Series B funding at a $1B valuation. The round was led by DTCP, with participation from British Business Bank, NATO Innovation Fund, Rheinmetall, Inocea Group, HICO, Thesiger Capital Group, BOKA Capital, Supernova Invest, Hakluyt Capital, NIF, UK National Security Strategic Investment Fund, SmartCap, Notion Capital, and Speedinvest.

Digantara Industries, a Bengaluru, India-based space surveillance company, raised $50M in Series B funding. Backers included 360 ONE Asset, SBI Investments Co Japan, Ronnie Screwvala, Peak XV Partners, and Kalaari Capital.

Alchemab Therapeutics, a Cambridge, UK-based clinical-stage biotechnology company, raised £25M in Series A extension funding. The funding came from British Business Bank, with participation from existing investors SV Health Investors, Dementia Discovery Fund, RA Capital, DCVC Bio, Eli Lilly, Lightstone Ventures, Ono Venture Investment, and Camford Partners.

Hippo Harvest, a Pescadero, CA-based robotics-powered greenhouse company, raised $30M in Series C funding. The round was led by Cox Farms.

Axle Energy, a London, UK-based virtual power plant software company, raised $25M in Series A funding. The round was led by Energize Capital, with participation from Accel, Picus Capital, and Eka Ventures.

Prime Intellect, a San Francisco, CA-based decentralized AI training infrastructure company, raised $130M in Series A funding. The round was led by Radical Ventures, with participation from NVIDIA Ventures, Intel Capital, Dell Technologies Capital, and existing institutional investors.

Vendelux, a NYC-based AI-powered B2B event intelligence platform, raised $50M in Series B funding. The round was led by Tribeca Venture Partners, with participation from S3 Ventures, Pelion Venture Partners, HubSpot Ventures, FirstMark Capital, and Cervin Ventures.

DAILY PICKS

🗞️ Must read writeups

What founders should never automate: AI can save founders hours, but automating the wrong tasks can quietly kill product-market fit. This piece explains how to separate low-signal busywork from high-signal customer interactions, so founders automate internal repetition first and protect the conversations that reveal what customers actually need. (Read Here)

Get hired in VC before the interview: Most VC applicants send resumes. This piece shows how to stand out by doing the actual work first: finding startups, speaking with founders, writing deal snapshots, and sending useful opportunities to investors. It gives aspiring VCs a 30-day system to build proof of judgment, sourcing ability, and founder access before asking for a job. (Read Here)

NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Isogon Ventures, a New York City and Madrid, Spain-based early-stage venture capital firm, is raising its first fund. According to a regulatory form filed with the SEC, Isogon Ventures I, L.P., is targeting up to $150m in commitments but has not raised any sum, yet.

Vermilion Cliffs Ventures, a U.S.-based venture firm founded by solo GP Ashley Smith, raised $25 million for its second fund. The firm invests in technical founders building AI infrastructure, cybersecurity, and developer tools, with plans to back at least 25 early-stage startu

Paradigm, a U.S.-based venture capital firm founded by Matt Huang and Fred Ehrsam, raised $1.2 billion for its latest fund. The firm will invest in startups across crypto, AI, robotics, and other technical frontier technologies, expanding beyond its traditional cryptocurrency focus.

KEY STORIES IN TECH

📜 Latest In Tech

Hugging Face CEO says enterprises are moving toward open-source AI

• Hugging Face CEO Clem Delangue says many companies begin with proprietary frontier AI models but increasingly switch to open-source alternatives as usage scales and API costs become too expensive.

• Speaking on TechCrunch’s Equity podcast, Delangue argued that open-source AI is gaining momentum, with Hugging Face now serving roughly half of the Fortune 500 as organizations seek greater control over their AI infrastructure.

• Delangue also warned against a future where a small number of AI companies control the ecosystem, arguing that open-source models are essential for maintaining competition, transparency, and long-term innovation.

OpenAI expands ChatGPT beyond individuals to families

• OpenAI is hiring a product manager focused on building ChatGPT experiences for families, caregivers, and older adults, signaling a shift toward household-focused AI products.

• ChatGPT’s user base is getting older, with people aged 35+ now accounting for 31% of users globally. In the U.S., nearly one in four parents used ChatGPT in the last quarter.

• The move comes as OpenAI strengthens safety features for younger users, including parental controls, trusted contacts, and age-appropriate experiences, amid growing scrutiny over AI’s impact on children.

Meta pulls Instagram AI feature days after launch

• Meta removed a feature from its new Muse Image app days after launch, following backlash over users being able to generate AI images from public Instagram accounts through a simple @ mention.

• The toggle allowing this was automatically switched on without users’ knowledge, meaning anyone could turn photos into AI images, while people were never told when someone created an AI image of them.

• Opting out only stops future generations and leaves existing images live, and users can disable it under Sharing and Reuse in settings, though the toggle is still rolling out and unavailable to some.

OpenAI and Google sold AI to blacklisted Chinese firms

• Google and OpenAI sold their advanced AI models to Singapore-based subsidiaries of Alibaba, Baidu, and Tencent, Chinese companies the US Pentagon has blacklisted over alleged ties to the Chinese military, according to a Financial Times report.

• The transactions are legal because current US regulations do not fully ban Chinese-headquartered firms from using advanced US-based AI models outside mainland China, though this may push the US to bring in stricter rules for sanctioned companies.

• OpenAI told the Financial Times that it blocks direct access to its AI models from mainland China, but allows some Chinese-owned businesses to use its services in other jurisdictions where proper safeguards can be enforced.

Fed names Marc Andreessen to co-lead AI task force

• The Federal Reserve has picked venture capitalist Marc Andreessen to co-lead a new task force studying how artificial intelligence and other general-purpose technologies affect the economy, with the group set to inform the Fed’s policy decisions.

• Chairman Kevin Warsh personally chose the three external advisors leading the AI task force: Andreessen, economist Charles I. Jones, and Xbox CEO Asha Sharma, all of whom have recently spoken in strongly positive terms about AI’s economic effects.

• The AI group was one of five task forces the Fed announced Thursday, all expected to finish by year’s end, though some FOMC members remain uncertain about the timing and size of any productivity gains from AI adoption.

China lands a reusable rocket for the first time

• China landed the booster stage of its Long March-10B rocket on Friday, the first time the country has launched and partly returned a reusable orbital rocket safely to Earth, matching SpaceX and Blue Origin.

• The rocket lifted off from the Hainan commercial space launch site at 12:15 pm, and its first stage touched down on a barge roughly six minutes later, caught by a large net in what’s reportedly the world’s first “net-based recovery.”

• China’s reusable Long March rocket still trails rivals, carrying a maximum payload of 16 tons compared to Falcon 9’s 25 tons and Starship’s planned 100-plus tons, with landings lowering launch costs by avoiding booster burn-up on reentry.

OpenAI launches ChatGPT Work to compete with Anthropic

• OpenAI has unveiled ChatGPT Work, a new AI workspace powered by GPT-5.6 that combines ChatGPT and Codex to help users create documents, presentations, websites, and other work without coding expertise.

• The product directly competes with Anthropic’s Claude Cowork and Microsoft’s Copilot, as AI companies race to offer autonomous workplace agents for enterprise customers.

• ChatGPT Work is rolling out first to Pro, Enterprise, and Edu users before expanding to Plus and Business users, alongside new desktop and website-building capabilities.

LAST COFFEE SIP

☕ Other News

Phia accused of faking affiliate credit on purchase

• Phia, the shopping startup co-founded by Phoebe Gates and Sophia Kianni, has been accused of “cookie stuffing,” a practice that may have let it collect commissions and credit for sales it did not actually generate.

• According to a Bloomberg investigation, Phia would open a new background tab when users shopped online and override other affiliates’ referral codes during checkout, injecting its own to take credit for purchases it didn’t earn.

• The report led to Phia’s suspension from the affiliate platform Impact.com, and a company spokesperson said all necessary changes had been made to fix the issue, which Bloomberg confirmed was resolved.

HIRING ALERT: STARTUPS & VC ROLES

💼 Today’s VC & Startup Job Opportunities

Most aspiring VCs struggle with interviews, unclear expectations, no structured prep, and generic advice that doesn’t actually help. So we partnered with a leading investor group to build an all-in-one VC Interview Preparation Guide that gives you real clarity and frameworks. (Access Here)

• Associate or Senior Associate - Bessemer Partner | USA - Apply Here

• Associate - Primary VC | USA - Apply Here

• VP — Finance & Compliance - Transition VC | India - Apply Here

• Senior Associate - ICONIQUE CAPITAL | USA - Apply Here

• Ventures Associate - Plug and Play Tech Centre | USA - Apply Here

• Fund Operations Analyst - Indogen Capital | Indonesia - Apply Here

• Investment Associate / Analyst - Flashpoint | UK - Apply Here

• Venture Capital Analyst - MicroVentures | USA - Apply Here

• Hard Tech Investment Associate - Upfront Venture | USA - Apply Here

• Associate - Engine Venture | USA - Apply Here

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Breaking News

OpenAI unveiled GPT-5.6 with three new models - Sol, Terra, and Luna - targeting enterprise AI, coding, research, and autonomous agents. The company says its flagship model outperforms Anthropic’s latest AI while running faster, using fewer tokens, and costing about one-third less.

Meta will begin mass-producing its latest MTIA AI chips in September, reducing its reliance on Nvidia while powering AI training, inference, and recommendation systems. The rollout is a key part of Meta’s $125–145 billion AI infrastructure strategy.

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STARTUPS RAISING MILLIONS

💰 Startup Funding Updates

PRE-SEED

Sherpa, a Munich, Germany-based provider of an AI operating system for external workforce management, raised $2.2M in Pre-Seed funding. The round was co-led by Seedcamp, DN Capital, Activant Capital, and Brighteye.

SEED

Marker, a London, UK-based developer of an AI-native word processor and collaborative authoring platform, raised $13M in Seed funding. The round was led by Index Ventures, with participation from LocalGlobe and strategic angel investors including Steve Newman, Cal Henderson, and Thomas Wolf.

Pixel-Flo, a University of Sheffield spin-out advancing MicroLED manufacturing technology, raised £5.25M in Seed funding. The round was led by Northern Gritstone, with participation from SCVC, Parkwalk Northern Universities Venture Fund, and HTGF.

QIZ Security, a NYC-based cryptographic posture and post-quantum cryptography management platform, raised $17M in Seed funding. The round was led by Bessemer Venture Partners and Merlin Ventures, with participation from Evolution Equity Partners, Qbeat Ventures, Singtel Innov8, and Qino Cyber Capital.

Cableteque, a Huntington Beach, CA-based digital operating system provider, raised $6M in Seed funding. Backers included 11 Tribes Ventures, PHX Ventures, and Mudita Ventures.

Polysense, a Ghent, Belgium-based AI-native quality control platform for food manufacturers, raised $10.7M in Seed funding. The round was led by Felix Capital, with participation from Fortino Ventures and angel investors including Syndicate One and 100IN.

GROWTH

Dropla Tech, an Odense, Denmark-based developer of edge-AI explosive detection software and unmanned ground vehicles, raised an undisclosed funding round. Backers included MITS Capital.

Aria, a Paris, France-based embedded invoice financing platform, raised €7M in Series A extension funding. The round was led by 115K, with participation from 13books Capital.

Kapture CX, a Bengaluru, India-based provider of an agentic AI platform, raised $10M in Pre-Series B funding. The round was led by Bajaj Finserv Ventures, with participation from Cactus Venture Partners and India Alternatives.

Ollama, a Palo Alto, CA-based developer platform for open models, raised $65M in Series B funding. The round was led by Theory Ventures, with participation from Benchmark, 8VC, Y Combinator, Pace Capital, 49 Palms, and GTMFund.

Nscale, a London, UK-based AI infrastructure company, secured a $900M debt facility. The syndicate included J.P. Morgan, Goldman Sachs, Morgan Stanley, MUFG, RBC Capital Markets, Bank of America, Crédit Agricole CIB, Deutsche Bank, Mizuho, SMBC, TD Securities, and KeyBank N.A.

Oxipital AI, a Bedford, MA-based synthetic AI vision platform, raised an undisclosed Series A funding round. The round was led by SAS Private Equities and Scale Venture Partners, with participation from Material Impact.

Databento, a Salt Lake City-based market data platform, raised $97M in Series B funding. The round was led by New Enterprise Associates (NEA), with participation from DRW Venture Capital, Redpoint Ventures, Tribe Capital, and other investors.

TJM Labs, a Wilmington, DE-based pharmacy AI platform, raised $75M in Series B funding. The round was led by Elephant, with participation from Arthur Ventures and Updata Partners.

QuantumDiamonds, a Munich, Germany-based semiconductor equipment company, raised $91M in funding. The financing included an equity round led by World Fund and non-dilutive funding under the European Chips Act.

Hostie, a San Francisco, CA-based AI-powered virtual concierge platform for restaurants, raised $12M in Series A funding. The round was led by Obvious Ventures, with participation from Gradient, Scribble Ventures, Burst Capital, Behind Genius Ventures, and angel investors.

Grace Investment Machine (GIM), a Beijing and Shanghai-based AI-native investment technology company, raised $20M in Series A funding. The round was led by Hony Capital, with participation from IDG Capital and Monolith Capital.

EdVisorly, a Los Angeles, CA-based EdTech platform for colleges and universities, raised $13.3M in Series A funding. The round was led by Breachway Capital, with participation from U.S. News & World Report, Lumina Foundation, Strada Education Foundation, Motley Fool Ventures, Juvo Ventures, Zeal Capital Partners, and others.

DAILY PICKS

🗞️ Must read writeups

The hidden VC scorecard - Will your investors back your next round?: Most founders assume existing investors will make a fresh decision when the next fundraise begins. In reality, many funds are already scoring portfolio companies internally long before the round opens. This piece shows founders how to read the signals early - from response times and intro quality to pro-rata behaviour and bridge participation. (Read Here)

100+ resources to break into VC - A single library of 100+ curated VC resources, including learning modules, fellowship videos, Excel templates, investor databases, scout-role guides, interview prep materials, and memo-building resources. The goal is simple: help aspiring investors stop jumping between scattered links and start preparing with a structured path into venture capital. (Read Here)

NEW VCs IN THE MARKET

🏦 Venture Capital Updates.

Vermilion Cliffs Ventures, a U.S.-based venture firm founded by solo GP Ashley Smith, raised $25 million for its second fund. The firm invests in technical founders building AI infrastructure, cybersecurity, and developer tools, with plans to back at least 25 early-stage startu

Paradigm, a U.S.-based venture capital firm founded by Matt Huang and Fred Ehrsam, raised $1.2 billion for its latest fund. The firm will invest in startups across crypto, AI, robotics, and other technical frontier technologies, expanding beyond its traditional cryptocurrency focus.

Chemistry Ventures, a U.S.-based early-stage venture firm founded by Mark Goldberg, Ethan Kurzweil, and Kristina Shen, is raising $500 million for its second fund. The firm invests in AI startups across infrastructure and applications, and its debut $350 million fund backed companies including Granola, Decagon, Persona, Serval, and Nova Intelligence.

KEY STORIES IN TECH

📜 Latest In Tech