Startups · Top stories
European Founders and VCs Urge Lawmakers to Preserve EU-Wide Company Statute
European startup founders and venture capitalists have issued an open letter to lawmakers, advocating for the preservation of a proposed EU-wide company statute. This initiative aims to create a common legal framework for companies across the bloc, reducing fragmentation and fostering entrepreneurship.
US Army awards Tern an $11.26M contract for GPS-alternative navigation technology
The U.S. Army has awarded Austin-based startup Tern an $11.26 million contract to deploy its low-cost GPS alternative navigation technology in military vehicles. This deployment addresses the increasing vulnerability of GPS systems to disruptions, particularly in conflict zones, by providing a resilient, closed-system navigation solution.
29 Companies Join Crunchbase Unicorn Board in August, Led by AI and Semiconductors
29 companies joined the Crunchbase Unicorn Board in August, adding $63 billion in value, with AI software and semiconductors being the leading sectors. Over a third of these new unicorns were less than three years old, indicating rapid valuation growth for some startups. The U.S. led with 16 new unicorns, followed by China with four.
Listen Labs Halts $1.5B Funding Round Amidst Acquisition Talks with Salesforce
Listen Labs, an AI market research startup, paused a $125 million Series C funding round at a $1.5 billion valuation due to ongoing acquisition discussions with Salesforce. Salesforce is reportedly considering purchasing Listen Labs for approximately $2 billion, which would integrate the startup's voice AI customer interview technology into Salesforce's offerings.
The Exploration Company Secures $450M Series C, Largest for a European Space Firm
The Exploration Company, led by Hèlene Huby, announced a $450 million Series C funding round, marking the largest Series C for a European space company and potentially the largest for a female-led company in Europe. This funding positions the company as a significant player in the European space sector, which faces challenges in competing with US and Chinese commercial ventures.
Legal AI startup Harvey raises $550M, reaching $15.5B valuation
Legal AI startup Harvey secured an additional $550 million in funding, bringing its valuation to $15.5 billion. This funding round, co-led by Diffusion and Lightspeed Venture Partners, follows a rapid increase in valuation over the past nine months, totaling over $1.55 billion raised. The company recently launched its in-house model, Harvey Tenet, and promotes the use of open-weight models in the legal industry.
DOJ Issues Second Request for Information on Fox's $22 Billion Roku Acquisition
The Department of Justice has issued a "second request" to Fox and Roku regarding Fox's proposed $22 billion acquisition of Roku, seeking more data and documents. This action indicates the DOJ is conducting a closer antitrust review to assess the deal's potential impact on competition and consumers.
b.next Establishes Synthetic Cell Manufacturing Plant and Ships 100th Cytosol Kit
b.next, a company focused on synthetic cell research, has established a manufacturing plant to produce "Cytosol," core materials for building synthetic cells, and recently shipped its 100th kit. This development addresses a critical need for a dedicated physical supply chain to advance synthetic cell technology beyond academic research.
Uber invests $10M in Indian fleet operator Carrum, increasing stake to mid-teens
Uber invested an additional $10 million in Indian fleet management startup Carrum Mobility, raising Carrum's valuation to $168 million and Uber's stake to the mid-teens. This investment reflects Uber's strategy to rely more on large fleet operators for vehicle and driver supply in India, particularly for premium services.
Silver Lake Merges Cegid and Silae in €10 Billion Deal to Boost AI Software Investment
Private equity firm Silver Lake is merging its software companies Cegid and Silae in a deal valued over 10 billion euros to create a combined entity focused on AI-powered business management and HR software. This merger aims to scale research and development investments in response to the emerging AI landscape, bringing together payroll, accounting, and digital finance data.
Covenant, a defense startup, opens U.S. missile factory and announces $250M funding
Defense tech startup Covenant has opened a 105,000-square-foot factory in Dallas for missile manufacturing and announced $250 million in funding across three rounds. This development introduces a new player in the defense ecosystem, aiming to provide lower-cost, long-range cruise missiles for the U.S. military.
Fusionality, founded by Google DeepMind alumni, raises $3.7M pre-seed for fusion power control systems
Fusionality, a new startup co-founded by Federico Felici and Jonas Buchli, has secured $3.7 million in pre-seed funding to develop control systems and simulation environments for fusion reactors. The company aims to standardize and provide core components for fusion power plant control, addressing a gap in the emerging fusion energy supply chain.
The Exploration Company Raises $450 Million Series C for Reusable European Launchers
The Exploration Company (TEC), a European space company, secured $450 million in Series C funding to develop reusable heavy-lift launchers. This funding aims to provide an alternative to SpaceX's growing dominance in the space launch market, addressing increasing demand and sovereignty concerns within Europe.
Cylake Raises $245 Million for Sovereign Cybersecurity Platform Development
Cybersecurity startup Cylake secured $245 million in funding, bringing its total to $290 million, to accelerate the development of its AI-native sovereign security platform. This investment will support platform development and team expansion ahead of a beta release planned for late 2026, targeting government and highly regulated enterprises.
Bluecore Energy Raises $50M Seed Round for Floating Small Nuclear Reactors
Bluecore Energy, a startup developing small nuclear reactors on floating barges, secured an oversubscribed $50 million seed funding round. This capital will support product development, regulatory work, nuclear fuel purchases, and hiring, advancing its goal of providing portable clean energy to ports and infrastructure.
Poseidon Aerospace Secures $60 Million Series A Funding for Uncrewed Cargo Planes
Poseidon Aerospace has closed a $60 million Series A funding round, bringing its total funding to $71 million. This funding will support the development and first test flight of its uncrewed cargo plane, Egret, planned for late this year, focusing on cost-effective air cargo logistics for defense and regional commercial sectors.
Eric Wu's NavigateAI launches with $25M seed funding to address construction labor shortages
Eric Wu, founder of Opendoor, launched NavigateAI with $25 million in seed funding to develop AI copilots for construction workers. The company aims to address the significant labor shortage in the construction industry, particularly exacerbated by the demand for large data center projects.
Travis Kalanick's Atoms Reportedly Entering Robotaxi Business
Atoms, founded by Travis Kalanick, is reportedly preparing to enter the autonomous vehicle industry, specifically focusing on robotaxis. This move follows a $1.7 billion funding round and discussions with Uber regarding the use of Atoms' robotaxi technology, indicating a significant expansion of the company's scope.
Isar Aerospace's Spectrum rocket achieves orbit from European soil after prior failures
German company Isar Aerospace successfully launched its Spectrum rocket into orbit from Norway, marking the first orbital launch from Western European soil. This achievement follows a previous failed attempt and multiple delays, demonstrating progress in European private spaceflight capabilities.
Oura Reportedly Plans September IPO with Over $16 Billion Valuation
Oura, the smart ring manufacturer, is reportedly planning a U.S. IPO in September to raise up to $3 billion, which could value the company at over $16 billion. This potential valuation marks a significant increase from its $10.9 billion valuation in September of last year and indicates continued growth in the wearables market.
XDOF in talks for Series B funding at $1.2B valuation three months after stealth exit
XDOF, a startup specializing in teleoperation data for training general-purpose robots, is reportedly in late-stage discussions to raise a Series B round at a $1.2 billion valuation, led by 8VC. This potential funding round comes less than three months after the company emerged from stealth, driven by rapid growth and annualized revenue approaching $50 million, addressing a critical data bottleneck for physical robotics.
Gimlet Labs Secures $300M Series B Funding to Scale AI Inference Infrastructure
Gimlet Labs announced a $300 million Series B funding round led by Andreessen Horowitz, with participation from numerous other investors. This funding will support the company's expansion of AI inference infrastructure to meet increasing demand for token generation and address power consumption challenges in AI data centers.
Krafton commits an additional $250M investment in India, expanding beyond gaming
Krafton, the South Korean gaming company, announced an additional $250 million investment in India over the next three to four years, bringing its total direct investment in the country to over $500 million. This new funding will support expansion into AI, robotics, and deep tech, diversifying its presence beyond its core gaming business in the Indian market.
Realta Fusion Partners with Madison Gas and Electric for Grid-Connected Fusion Plant
Realta Fusion announced a deal with Madison Gas and Electric to explore building a 200-megawatt grid-connected fusion power plant in Wisconsin by the mid-2030s. This partnership provides Realta Fusion with engineering support, site selection, and an equity investment, reflecting utilities' increasing interest in fusion technology to address future power supply needs.
Ultrahuman Raises $70M with Qualcomm Backing to Develop Smart Rings as Computing Devices
Ultrahuman, an Indian smart ring manufacturer, secured $70 million in funding, including investment from Qualcomm Ventures, to transform its smart rings from health trackers into computing devices capable of running software and supporting AI interactions. This funding round values the company at $365 million and will support the development of new rings utilizing Qualcomm silicon, alongside software updates for existing models to enable advanced functionalities.
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.