A few things that looked settled are suddenly getting rewritten.
Apple could finally enter foldables. Europe just proved it can put a commercial rocket into orbit. Private markets are opening up through evergreen funds and continuation vehicles. And even CDs are making a comeback.
The 5 things worth knowing today:
Apple could unveil its first foldable iPhone this week.
Isar Aerospace became the first commercial European company to reach orbit.
Evergreen funds could become a much bigger gateway into private markets.
OpenAI’s chief scientist is calling for the AI race to slow down.
China is preparing humanoid robots for military use.
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STARTUPS RAISING MILLIONS
💰 Startup Funding Updates
At least $310.35M + €21M + £3.9M disclosed across today’s startup rounds
The three biggest disclosed dollar rounds:
Upwind: $300M
Fluencify: $4.3M Pre-Seed
Haystack Robotics: $3.95M Series A
Upwind alone accounted for nearly 97% of today’s disclosed dollar funding.
PRE-SEED
Fluencify: Stockholm-based AI-powered creator marketing platform raised $4.3M led by byFounders, with participation from Wave Ventures.
Souk: London-based B2B software and partnership automation startup raised $1.6M led by Sure Valley Ventures, with participation from Antler, Fuel Ventures, and strategic angel investors.
SEED
iPremom: Valencia-based diagnostics femtech startup raised €15M led by Amadeus Capital Partners, with participation from Asabys Partners and APEX Ventures.
Cato: Milan-based AI platform for public sector sales raised €6M led by Keen Venture Partners, with participation from Italian Founders Fund, Vento, Heartfelt, Moonstone, BHeroes, Alecla7, Nova Venture, and private angel investors. The round brought total funding to €7.6M.
Puntr: Wilmington-based sports technology platform raised $500K led by Accretion Capital.
GROWTH
Upwind: Tel Aviv-based cloud security and runtime protection platform raised $300M at a $3.8B valuation. The round was co-led by Bessemer Venture Partners and TCV, with participation from Craft Ventures, Salesforce Ventures, Greylock, Cyberstarts, Leaders Fund, Alta Park Capital, and Penny Jar Capital.
Tickets for Good: Sheffield-based platform distributing surplus live-event tickets to key workers and people receiving Cost of Living support raised £3.9M from NPIF II Mercia Equity Finance, Shaping Impact Group, Finance Yorkshire, Leansquare, and private investors.
Haystack Robotics: Portland-based AI-powered autonomous disinfection platform raised $3.95M Series A led by an entity associated with Agadia Systems.
VVater: Austin-based water treatment solutions company received an undisclosed strategic investment from Kyocera Ventures.
📍 Funding Signal
Today’s board is a reminder of how uneven venture capital can be.
Upwind captured almost all of the disclosed dollar funding with its $300M round, while most other companies raised less than $6M. That gap shows how capital can remain highly selective even when headline funding totals look strong.
Below the mega-round, investors are spreading smaller checks across creator tools, public sector software, robotics, femtech, sports technology, and impact-driven marketplaces. The market is funding experimentation broadly, but concentrating the largest amounts behind companies that have already demonstrated significant scale and defensibility.
NEW VCs IN THE MARKET
🏦 Venture Capital Updates.
Evergreen funds and continuation vehicles are reshaping private-market access
Wellington Management argues that evergreen funds could become a much bigger gateway for individual investors to access venture capital and growth equity as companies stay private longer and capture more of their growth before going public.
The firm points to expanding secondary markets, more attractive private-market valuations, and rising demand for wealth-focused evergreen vehicles. Assets in these structures are projected to exceed $1T by the end of the decade.
Carrick Capital Partners also completed a $600M continuation vehicle tied to Fund II, with around 20% of existing LPs choosing to roll their stakes into the new structure. The transaction reportedly delivered a 10x MOIC to Fund II investors.
📍 Capital signal
Private markets are becoming more flexible on both entry and exit. Evergreen funds are opening access to a broader investor base, while continuation vehicles are giving existing LPs more options to either take liquidity or stay exposed to high-performing assets for longer.
KEY STORIES IN TECH
📜 Latest In Tech
Apple could unveil its first foldable iPhone this week
Apple is expected to introduce the foldable iPhone Ultra, reportedly priced above $2,000, with a 7.8-inch unfolded display, iPad-like multitasking, Touch ID, and a less visible screen crease.
The company may also refresh the iPhone 18 Pro lineup while delaying the standard iPhone 18, potentially changing its usual annual release schedule.
Apple is also expected to push AI deeper into hardware with Gemini-powered Siri, new HomePods, and AirPods with cameras that could act as visual sensors for Siri.
Why it matters: This could be one of Apple’s biggest hardware shifts in years. A foldable iPhone would put Apple directly into a category Samsung has led for years, while camera-equipped AirPods hint at a broader strategy to make AI more ambient across Apple devices.
Isar Aerospace becomes first commercial European company to reach orbit
Isar Aerospace successfully launched its Spectrum rocket from Norway and deployed satellites on only its second flight.
Spectrum can carry about 1,000 kg to low Earth orbit, targeting smaller, more precise missions rather than competing directly with heavy-lift rockets like Falcon 9.
The company raised €270M this year, signed a roughly €200M ESA deal, and says defense customers now account for about 60% of orders.
Why it matters: Europe has long depended heavily on government-backed launch systems and foreign providers. A successful commercial launcher gives the region more control over satellite access, especially as defense and sovereign space demand grows.
Apple is looking for new ways to make more money from the App Store
Apple is reportedly exploring new recurring revenue streams and higher-margin services around the App Store, which already generates an estimated $30B annually.
New CEO John Ternus and services chief Eddy Cue are said to be driving the effort after longtime App Store chief Phil Schiller stepped away.
The push comes as Apple’s U.S. App Store commission revenue has reportedly fallen 18% since early 2026 amid court-ordered changes to payment rules.
Why it matters: Apple may need to redesign App Store economics as regulators weaken its traditional commission model. That could lead to new fees, subscription products, or services that reshape how developers pay to reach iPhone users.
China is preparing humanoid robots for military use
China is accelerating efforts to move humanoid robots from research labs into military training, with potential roles in reconnaissance, patrols and clearing buildings.
The strategy combines humanoids with robot dogs and unmanned vehicles, with some research suggesting battlefield-ready systems could emerge within five to ten years.
China already dominates global humanoid shipments, but current systems still struggle with rough terrain, battery life and reliable identification in combat environments.
Why it matters: Humanoid robotics is expanding beyond factories and consumer use into defense. If military deployment becomes viable, robotics leadership could become a much bigger part of the geopolitical competition around AI and autonomous systems.
OpenAI’s chief scientist urges AI labs to slow down
Jakub Pachocki called for a voluntary pause in the AI race, warning that labs and governments are not prepared for how quickly machine intelligence is advancing.
He also shared internal figures showing OpenAI researchers were spending more than $600 per day on inference by mid-August, while agents were producing 3.1 workdays of effort for every human workday.
Pachocki argued that safety frameworks should become mandatory and independently audited as monitoring model reasoning becomes more difficult.
Why it matters: Concern about AI risk is now coming from inside the labs building the most advanced systems. If leading researchers start pushing for enforceable safety standards, the debate could shift from voluntary commitments toward formal oversight.
LAST COFFEE SIP
🌎 Around The Ecosystem
Music industry: CD revenue jumped 58.6% to $171M in the first half of 2026, with unit sales up 45.7% to 17.5M as Gen Z interest in simpler, physical technology helps revive formats once thought to be in permanent decline.
MUST READ
📚 Worth Your Time
Is AI-native hurting your valuation? A practical breakdown of why the AI-native label no longer guarantees a premium valuation. The piece shows how investors now separate thin AI wrappers from companies with real technical differentiation, proprietary data, workflow lock-in, and stronger unit economics.
Are expensive YC startups better bets? A useful breakdown of Rebel Fund’s analysis of 642 YC startups and what valuation may signal at Demo Day. The data shows higher-priced YC startups were more likely to reach Series A and less likely to fail, but high valuation still doesn’t guarantee better long-term returns.
HIRING ALERT: STARTUPS & VC ROLES
💼 Today’s VC & Startup Job Opportunities
2027 Venture Capital Summer Associate | StepStone Group | USA | Apply Here
Head of Finance | Hivemind Capital Partners | USA | Apply Here
Associate | Marble | France | Apply Here
Senior Associate, Talent Sourcing | Redesign Health | India | Apply Here
Vice President, Investor Relations | Red Cell Partners | USA | Apply Here
Senior Associate | Bessemer Venture Partners | USA | Apply Here
Investor | SuperSeed | UK | Apply Here
Associate / Principal, Follow-on Investing | Village Global | USA | Apply Here
Senior Associate | Yamaha Motor Ventures | USA | Apply Here
MBA Intern | Montauk Capital | USA | Apply Here
Head of Platform | PruVen Capital | USA | Apply Here
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