Startups · Top stories
Hadrian Raises $1.37 Billion at Nearly $8 Billion Valuation for Defense Manufacturing
Hadrian, a manufacturing startup focused on defense and aerospace, secured $1.37 billion in a new funding round, bringing its valuation to approximately $7.9 billion. This investment will support scaling its workforce, software platform, and addressing production challenges in defense sectors, including submarines, munitions, and drones.
OpenAI and Anthropic Increase Lobbying Spending Ahead of Elections
OpenAI and Anthropic spent a combined $3.17 million on federal lobbying in Q2 2026, marking a 23% increase from Q1. This surge occurs as AI companies intensify efforts to influence legislation ahead of midterm elections and their upcoming IPOs.
Stripe and Advent International Reportedly Bid $53.4B for PayPal
Stripe and Advent International have reportedly submitted a $53.4 billion joint bid to acquire PayPal. This major acquisition, if completed, would consolidate two significant players in the digital payments market, impacting its competitive landscape.
Neko Health Raises $700 Million, Plans US Expansion with First Clinic in New York
Neko Health, co-founded by Spotify's Daniel Ek, has raised $700 million in a Series C funding round led by Lightspeed Venture Partners and O.G. Venture Partners. The funds will support the company's US expansion plans, starting with its first clinic in New York, offering AI-enabled body scans and blood tests. This development signifies a significant step in the company's mission to enhance preventive healthcare through technology.
FTC Approves Elon Musk's Acquisition of Mesh Optical Technologies
The Federal Trade Commission has approved Elon Musk's pending acquisition of Mesh Optical Technologies. Founded by former SpaceX engineers, Mesh develops optical transceivers for data centers. This acquisition could enhance data transmission capabilities in SpaceX's data centers, vital for AI infrastructure.
SambaNova Systems Raises $1 Billion at $11 Billion Valuation
SambaNova Systems, an AI chip company, raised $1 billion in a Series F round, boosting its valuation to $11 billion. Led by General Atlantic, with further participation expected, the funding aims to accelerate SambaNova's growth in AI inference chips, a market challenging Nvidia. SambaNova is considering a future IPO as it scales rapidly.
Humanoid Robotics Sees Major Investments and Market Moves; Ant Group's $73.58 Million Investment in Zeroth Leads Sector Push
Ant Group has invested $73.58 million in Zeroth, its 12th investment in humanoid robotics since 2025, as it diversifies post-IPO halt. Meanwhile, Agility Robotics plans to go public through a merger with Churchill Capital Corp XI, valuing it at $2.5 billion, marking a significant event in the humanoid robotics market.
Delivery Hero Board Recommends Uber's $15 Billion Takeover Offer
Delivery Hero's board has endorsed Uber's $15 billion takeover bid, recommending shareholders approve the deal. This acquisition would significantly expand Uber's global food delivery footprint and position it to better compete with rivals like DoorDash and Just Eat Takeaway.
Lyte, a Physical AI Startup, Raises $165M Series C at $1.6B Valuation
Lyte, a physical AI startup specializing in sensing and perception technology for robots, secured $165 million in Series C funding, valuing the company at $1.6 billion. This funding round, led by Maverick Silicon, brings Lyte's total capital raised to $272 million and will support its development of custom silicon, 4D sensing, and AI software for robotic navigation in industries like warehousing and manufacturing.
Google Purchases 400 MW Geothermal Power from Fervo for Utah Data Center
Google has signed a power purchase agreement with Fervo to acquire 396 megawatts of geothermal electricity from Fervo's Cape Station plant in Utah, with an option for an additional 600 megawatts. This deal supports Google's clean energy goals and its AI infrastructure expansion, while potentially doubling the US geothermal capacity if Fervo's site is fully developed.
Wonderful AI raises $550M Series C, reaching $5B valuation in under six months
Wonderful AI, an Israeli-Dutch startup, secured $550 million in Series C funding, increasing its valuation to $5 billion from $2 billion in less than six months. This funding will support product development and expansion of its engineering teams, as the company evolves its AI OS platform beyond customer service applications.
Thyme Care Raises $125 Million in Series E Funding, Valuing Company Over $2 Billion
Thyme Care, a cancer care navigation platform, secured $125 million in Series E funding, increasing its valuation to over $2 billion. This funding will support the creation of a new parent company, Thyme Companies, to develop additional businesses addressing gaps in cancer care delivery and affordability.
Adobe acquires Indian marketing intelligence startup Rilo
Adobe has acquired Rilo, an India-based marketing intelligence startup, in a deal that includes licensing and team acquisition. This acquisition integrates Rilo's technology and six-member team into Adobe's operations to enhance its marketing workflow automation capabilities, particularly for larger customers.
Palantir CEO Alex Karp Backs Ex-Ukrainian Defense Minister's New Defense Tech Startup
Former Ukrainian Defense Minister Mykhailo Fedorov is launching a defense technology company with Palantir CEO Alex Karp as its first lead investor. The venture aims to commercialize Ukraine's wartime technology experience for Kyiv and its allies, focusing on applying lessons from the conflict to new defense products.
AfterQuery Achieves $3.2B Valuation, Becomes Y Combinator's Fastest Unicorn
AI training-data startup AfterQuery has reportedly raised a new funding round valuing it at $3.2 billion, a tenfold increase from its $300 million valuation five months prior. This makes AfterQuery the fastest startup to reach unicorn status in Y Combinator's history, highlighting rapid growth in the AI model training sector.
Félix, a WhatsApp remittance platform, secures $200M Series C funding led by A16z and General Catalyst
Félix, an AI-powered WhatsApp remittance platform for Latino immigrants, raised $200 million in Series C funding, co-led by Andreessen Horowitz and General Catalyst. This funding round, comprising $87 million in equity and $113 million in debt, will support the company's expansion into new Latin American markets and growth of its offerings.
Softbank's SB Energy Files for IPO, Cites 'Substantial Dependence' on OpenAI
SB Energy, an AI power infrastructure company backed by Softbank, OpenAI, and Nvidia, has filed for an IPO, revealing its business is "substantially dependent" on OpenAI as a tenant and investor. The company has not yet generated revenue from its data center business and incurred $3.2 billion in net losses in the first half of 2026 due to data center investments.
Sequoia-incubated Empirik launches with $21M seed funding to predict infrastructure outages
Empirik, a startup incubated by Sequoia Capital, has launched as an independent company after securing $21 million in seed funding from Sequoia, Canapi, and Alumni Ventures. The company develops an AI-powered observability tool designed to predict and prevent IT infrastructure outages by tracking system changes and their potential ripple effects.
India's Unacademy acquired by upGrad for $206M, a 94% drop from peak valuation
Indian edtech startup Unacademy has been acquired by rival upGrad for $206 million in an all-stock deal, representing a 94% decrease from its 2021 peak valuation of $3.44 billion. This acquisition highlights the significant valuation adjustments occurring in the edtech sector following the post-pandemic decline in demand for online learning.
Magna invests an additional $35M in Indian battery-swapping firm Yuma Energy
Magna International has invested an additional $35 million in Yuma Energy, an Indian battery-swapping network for electric two- and three-wheelers, increasing its stake in the company. This investment supports Yuma's expansion in India's growing gig economy, where battery swapping offers a faster alternative to charging for delivery riders.
a16z Launches $1.1 Billion 'Machine Age' Fund for AI Hardware Investment
Andreessen Horowitz (a16z) has established a new $1.1 billion "Machine Age" fund dedicated to investing in AI infrastructure and hardware. This fund marks a shift from the firm's traditional software focus to support the physical buildout of AI, including components like chips, memory, data centers, and robotics.
Clipto raises $15M at $250M valuation for AI-powered video and file search
Clipto, a San Francisco-headquartered startup, secured $15 million in an all-equity funding round, valuing the company at $250 million post-money. The company uses AI to index and make searchable various digital files, including videos, audio, and documents, addressing the challenge of managing large volumes of digital content.
Catch Raises $5 Million to Develop AI Executive Assistant with Guardrails
Catch, an AI startup, secured $5 million in funding co-led by Entrée Capital and Pitango to advance its AI executive assistant product. The funding will support the development of an AI agent designed to handle sensitive administrative tasks with built-in security and user-defined access controls, aiming to move AI beyond analysis to active decision-making.
Former Replit GC Cecilia Ziniti Launches GC AI for Legal Work
Cecilia Ziniti, former General Counsel at Replit, founded GC AI to develop AI tools specifically for legal work. Her experience with early GPT versions at Replit highlighted the need for AI tailored to the precision and sourcing requirements of the legal profession.
Mara Raises $7 Million for Backpack-Portable Drone Interceptor System
San Francisco startup Mara secured $7 million in pre-seed funding to develop Spike, a portable counter-drone system. Spike uses 8.8-ounce autonomous interceptors designed to cost-effectively neutralize FPV quadcopters, which are a significant threat in modern combat.
Stripe reportedly ends pursuit of PayPal acquisition valued at $50 billion
Stripe, in conjunction with Advent International, has reportedly ceased its efforts to acquire PayPal for approximately $50 billion. This development indicates that PayPal will likely remain an independent entity, impacting the competitive landscape of digital payment processing.
Rivian CFO Claire McDonough to resign, effective end of October
Rivian's Chief Financial Officer Claire McDonough is resigning at the end of October to take a CFO position at GE Vernova. Her departure occurs as Rivian scales production of its R2 SUV and manages a significant investment deal with Volkswagen Group.
CivilGrid raises $26 million Series A to map underground utility infrastructure
CivilGrid, a startup founded by former PG&E engineer Josh Mackanic, secured $26 million in Series A funding to expand its platform for mapping underground utility assets. The company aggregates data on utilities, property ownership, and environmental regulations to provide a comprehensive view of subterranean infrastructure, aiming to reduce costly delays and utility strikes.
Socure Raises $156M at $5.2B Valuation, Acquires AI Fraud Investigation Startup Fravity
Identity verification company Socure secured $156 million in a strategic growth investment, increasing its valuation to $5.2 billion, and acquired AI fraud investigation startup Fravity. This funding and acquisition aim to automate labor-intensive financial crime investigation as Socure experiences rapid growth and increased AI-driven fraud.
Stripe acquires Clerky to integrate legal services for startups
Stripe has acquired Clerky, an online legal service provider for startups, to expand its offerings within the startup ecosystem. This acquisition allows Stripe to provide integrated legal paperwork solutions to its startup clients, enhancing its platform for new businesses.
AI startup Instinct raises $250 million Series B, valuing company at $2.5 billion
Instinct, an AI assistant startup, secured $250 million in Series B funding, bringing its total funding to $350 million and its valuation to $2.5 billion. This funding round, co-led by Index Ventures and Benchmark, highlights continued investor interest in AI technologies despite some user privacy concerns.
Actinide Becomes First Startup to Produce High-Assay Low-Enriched Uranium (HALEU)
Dallas-based startup Actinide has become the first startup to produce high-assay low-enriched uranium (HALEU) using its calutron technology. This development addresses a critical gap in the domestic supply chain for advanced nuclear reactor fuel, as the U.S. currently lacks commercial capacity for HALEU production.
Ventures Platform Closes $84M Second Fund for Pan-African Early-Stage Investments
Ventures Platform, a Pan-African venture firm, has raised an oversubscribed $84 million for its second fund, expanding its investment focus beyond Nigeria to other African markets. This fund will back early-stage founders in sectors like fintech, healthcare, SaaS, and AI, aiming to address essential needs and build businesses across the continent.
General Intuition Nears $6B Valuation with New Funding from Valor, Point72
General Intuition, an AI startup developing a foundation model for generalized AI agents, is finalizing a funding round at a $6 billion pre-money valuation with new investors including Valor Equity Partners and Point72 Ventures. This new investment follows a $320 million round at a $2.3 billion valuation just weeks prior, indicating significant investor interest in its approach to physical AI and robotics.
Stability AI Secures $76 Million in Series B Funding from Entertainment and Tech Firms
Stability AI, developer of the Stable Diffusion image generation model, raised $76 million in Series B funding, bringing its total fundraising to $232 million. The capital will be used to expand its creative production product suite and professional services arm, with investments from major entertainment companies indicating a focus on content licensing and distribution deals.
Pacific Fusion breaks ground on New Mexico facility to achieve net facility gain by 2030
Pacific Fusion began construction on a new facility in New Mexico designed to generate as much energy as it consumes, a milestone known as net facility gain. This development is a step towards commercializing fusion power, with the company aiming for a commercial power plant by the mid-2030s.
Gamma acquires design startup Lica to establish new design research lab
Presentation startup Gamma acquired design startup Lica, backed by Accel, to create a new design research lab. Lica's co-founders will lead this initiative, focusing on AI models for visual communication and expanding presentation formats.
Self-driving truck startup Gatik raises $200M after PepsiCo deal
Gatik, a self-driving box truck startup, raised $200 million in funding, two months after securing a multiyear commercial agreement with PepsiCo. This funding round, led by Qatar Investment Authority and Koch Disruptive Technologies, will support Gatik's expansion from pilot programs to commercial driverless operations across multiple cities and customers.
MotherDuck Acquires Tower to Integrate AI-Powered Data Pipeline Technology
MotherDuck, a serverless data warehouse company, has acquired Tower, a data infrastructure startup whose technology was already powering MotherDuck's AI-built data pipelines. This acquisition is MotherDuck's first and aims to bring Tower's technology and team in-house as MotherDuck expands its focus on AI agents for data pipeline creation and operation.
Airbound raises $37M Series A to develop cargo drones for logistics in India
Indian startup Airbound secured $37 million in Series A funding to develop autonomous drones designed to transport goods more affordably than traditional trucking. The company aims to achieve cost parity with ground transportation by designing drones that carry more payload relative to their own weight, potentially transforming logistics for specific goods.