☕ Anthropic raising $5B at $170B Valuation, ChatGPT can now pass the ‘I am not a robot’ test & Ray-Ban Meta smart glasses sales have tripled.
Groq nears $600M raise at $6B valuation to rival NVIDIA & More.
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📬 What’s in store:
Today’s Picks: Founder legal docs, market test, financial model, Hook framework, investor lists, MRR ceiling.
Anthropic, the AI startup behind Claude, is raising $5 billion at $170 billion valuation.
Groq nears $600M raise at $6B valuation to rival Nvidia in AI chips.
OpenAI launches Study Mode to encourage student learning in ChatGPT.
Google’s NotebookLM launches Video Overviews for visual learning.
Microsoft in talks to secure OpenAI access beyond AGI milestone.
Jack Dorsey’s Bluetooth messaging app Bitchat now on App Store.
ChatGPT can now pass the ‘I am not a robot’ test.
Ray-Ban Meta smart glasses sales have tripled.
Meta plans a smartwatch with built-in camera.
VC & Startup Jobs: VC & investors backed startup hiring for remote roles.
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The Hook Model: How to make your product addictive (in a good way).
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Max MRR: The hidden ceiling on your SaaS growth.
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Peter Inge on why you shouldn’t start a company to make money.
How founders should think about pre-PMF burn rate.
Things you should never do when building an app.
The only data room guide you’ll ever need as a founder: what to share and when..
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STARTUPS RAISING MILLIONS
💰 Startup funding updates
Anthropic, the AI startup behind Claude, is reportedly raising $3–5 billion at a staggering $170 billion valuation, nearly tripling its value from March. Iconiq Capital is leading the round, with potential co-leads and interest from Qatar Investment Authority and Singapore’s GIC.
MAUI Imaging, a San Jose, CA-based provider of a patented technology that visualizes anatomy, raised $14M in Series A funding. The round was led by Acertara Acoustic Laboratories.
lakeFS, a NYC-based provider of a “git-for-data” version control system for enterprise data and AI initiatives, raised $20M in a growth funding. The round was led by Maor Investments along with existing investors Dell Technologies Capital, Norwest and Zeev Ventures.
Caspian, a San Francisco, CA-based provider of an AI-driven customs compliance startup, raised $5.4M in Seed funding. The round was led by Primary Venture Partners, with major investment from Blank Ventures.
Rapidise Technology Pvt. Ltd., an Ahmedabad, India-based AIoT Product Innovation and Electronics Manufacturing startup, raised $4m in seed funding. Backers included Napino Tech Ventures and Teksun Microsys.
Planted Solar, an Oakland, CA-based provider of a solar deployment platform for project developers, raised $12M in funding. The round was led by Piva Capital, with participation from existing investors Breakthrough Energy Ventures, Khosla Ventures, and Team Builder Ventures.
Arbital Health, a San Francisco, CA-based healthcare technology company that provides critical infrastructure for providers and payers to manage risk-based contracts, raised $31M in Series B funding. The round was led by Valtruis, with participation from existing investors Transformation Capital, Shaper Capital, and Healthy Ventures.
FluidCloud, a Pleasanton, CA-based portable cloud infrastructure company, raised $8.1M in Seed funding. The round was led by Unusual Ventures with participation from U First Capital.
Multibeam Corp., a Santa Clara, CA-based company providing Multicolumn E-Beam Lithography (MEBL) system, raised $31M in Series B funding. The round was led by Onto Innovation and Lam Capital, with participation from UMC Capital, MediaTek Capital, and others.
Sparrow, a San Francisco, CA-based employee leave management technology company, raised $35M in Series B funding. The round was led by SLW.
Promptfoo, a San Francisco, CA-based provider of an open‑source framework for AI red‑teaming and security testing, raised $18.4M in Series A funding. Th around was led by global software investor Insight Partners, with participation from existing investor Andreessen Horowitz.
Wingspan, a NYC-based provider of a modern payroll platform purpose-built for contractor management, raised $24M in Series B funding. The round was led by Touring Capital. Existing investors Andreessen Horowitz, Long Journey Ventures, Distributed Ventures, Company Ventures, and 186 Ventures also participated.
Reach Security, a San Francisco, CA-based provider of an AI-powered assistant for operationalizing security controls across the enterprise, received a $10M strategic investment. M12, Microsoft’s Venture Fund, and existing investors including Artisanal Ventures, made the investment.
4AG Robotics, a Salmon Arm, BC, Canada-based autonomous mushroom harvesting company, raised $40M in Series B funding. The round was led by Astanor and Cibus Capital, with participation from new investor Voyager Capital and existing investors InBC, Emmertech, BDC Industrial Innovation Fund, Jim Richardson Family Office, Stray Dog Capital and Seraph Group.
ARTBIO, a Cambridge, MA-based clinical-stage radiopharmaceutical company, raised $132M in Series B funding. The round was led by Sofinnova Investments and B Capital, along with an existing investor and participation from F-Prime, Omega Funds, and Third Rock Ventures.
Keye, a NYC-based provider of an AI platform for private equity, raised $5M in Seed funding. Backers included Sorenson Capital, General Catalyst, Y Combinator, ERA, Tiferes Ventures, Dunamu Ventures, Palm Drive Capital and angel investors Kaz Nejatian (COO at Shopify), Philip Rathle (CTO at Neo4j), and Clark Valberg (former CEO of InVision).
Drizz, a Bengaluru, India-based Vision AI mobile application testing agent service provider, raised $2.7M in Seed funding. The round was led by Stellaris Venture Partners and Shastra VC, with participation from Anuj Rathi (ex-CBO, Cleartrip) and Vaibhav Domkundwar.
Salient, a San Francisco, CA-based provider of AI-powered financial services technology, raised USD60M in funding. The round was led by Andreesen Horowitz, Matrix Partners, Michael Ovitz, and Y Combinator.
JotPsych, a Washington, DC-based creator of an AI-powered scribe for behavioral health, raised $5M in Seed funding. The round was led by Base10 Partners.
ARO Network, a Singapore-based provider of a decentralized edge cloud platform, raised $2.1M in pre-seed funding. The round was led by NoLimit Holdings and Dispersion Capital, with participation from Escape Velocity, Maelstrom, and angels.
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NEW VCs IN THE MARKET
🏦 Venture Capital updates
BlackWood Ventures, a Copenhagen, Denmark-based network- and technology-driven early-stage firm focused on European founders, closed its debut USD25m fund. Since its first close in April 2023, BlackWood has made 19 investments spanning nine countries, with a plan to build a portfolio of around 30 fintech, cleantech, and Web3 companies.
KEY STORIES IN TECH
📜 Latest in tech
Groq nears $600M raise at $6B valuation to rival Nvidia in AI chips:
AI chip startup Groq is in talks to raise $600 million at a $6 billion valuation, more than doubling its $2.8 billion valuation from August 2024.
The round is reportedly led by Austin-based Disruptive; prior investors include BlackRock, Cisco, and Samsung Catalyst Fund.
Groq, founded by ex-Google engineer Jonathan Ross, has partnered with Meta and Bell Canada to power large-scale AI infrastructure projects.
OpenAI launches Study Mode to encourage student learning in ChatGPT:
OpenAI has introduced Study Mode in ChatGPT to promote critical thinking by asking users questions instead of giving direct answers, especially useful for student learning.
The feature is available across Free, Plus, Pro, and Team plans, with Edu plan access coming soon; no admin or parent lock-in features exist yet.
Study Mode follows similar moves by rivals like Anthropic and reflects OpenAI’s efforts to make ChatGPT a more responsible educational tool.
Google’s NotebookLM launches Video Overviews for visual learning:
Google has added Video Overviews to NotebookLM, turning notes, PDFs, and images into visual explainers using diagrams, quotes, and data.
The feature is a visual counterpart to Audio Overviews, helping users understand complex materials through customized videos based on their learning goals.
Updates to the Studio panel now allow users to multitask and easily generate Audio/Video Overviews, Mind Maps, and Reports within one notebook.
Microsoft in talks to secure OpenAI access beyond AGI milestone:
Microsoft is negotiating a new deal with OpenAI to maintain access to its tech even after the startup declares it has achieved AGI, aiming to protect its strategic AI integrations.
The talks involve Microsoft possibly gaining a 30%+ equity stake in OpenAI’s restructured for-profit entity, in exchange for continued access and reduced revenue share obligations.
OpenAI wants to ensure Microsoft deploys its technology safely, while both companies face potential regulatory scrutiny and legal challenges from Elon Musk’s ongoing lawsuit.
Jack Dorsey’s Bluetooth messaging app Bitchat now on App Store:
Jack Dorsey’s new app Bitchat enables Bluetooth-based messaging without Wi-Fi or cellular networks, now available on iOS with a minimalist interface and no login required.
Though useful in low-connectivity settings, the app faces criticism over impersonation risks and lack of external security review, raising concerns about its privacy claims.
Several fake Bitchat apps are appearing on Google Play, with Dorsey warning users that the official version hasn’t launched there yet.
ChatGPT can now pass the ‘I am not a robot’ test:
OpenAI's new ChatGPT Agent can now bypass Cloudflare's anti-bot security by checking the "Verify you are human" box, a step intended to block automated programs from accessing websites.
A Reddit user posted screenshots showing the AI agent navigating a website, where it passed the verification step before a CAPTCHA challenge would normally appear during a video conversion task.
The agent narrated its process in real-time, stating it needed to select the Cloudflare checkbox to prove it wasn't a bot before it could complete its assigned online action.
Ray-Ban Meta smart glasses sales have tripled:
EssilorLuxottica reported that revenue from its AI-powered Ray-Ban Meta smart glasses more than tripled year over year, helping boost the eyewear giant's total first-half sales to €14.02 billion.
Having sold 2 million pairs since late 2023, the French-Italian company now aims to produce 10 million units of the Meta glasses annually by the end of the year 2026.
Meta is expanding its lineup with an Oakley collaboration offering double the battery life and 3K video, while a Prada-branded version of the smart glasses is also planned for the future.
LAST COFFEE SIP
☕Other news
Meta plans a smartwatch with built-in camera:
Meta is reportedly developing a new smartwatch that could be revealed at its Meta Connect 2025 event, partnering with Chinese manufacturers to produce the new wrist-based tech.
The rumored device may include a camera and focus on XR technologies rather than health, possibly complementing the company's upcoming smart glasses that will feature a display.
This wearable could incorporate Meta's existing research into wrist-based EMG technology, reviving a project that has previously faced rumors of cancellation and subsequent development.
HIRING ALERT: STARTUPS & VC ROLES
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