Startups · Top stories
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.
Flipkart Minutes Nears India's Quick-Commerce Leaders with 1.2 Million Daily Orders
Walmart-owned Flipkart's quick-commerce service, Flipkart Minutes, now processes 1.1 million to 1.2 million daily orders, significantly closing the gap with established Indian quick-commerce players like Swiggy's Instamart. This growth is driven by an aggressive expansion of its micro-fulfillment center network, increasing its market share in India's competitive instant delivery sector.
DOJ Investigates Andreessen Horowitz Over Board Seats at Competing Companies
The Department of Justice has launched an investigation into Andreessen Horowitz (a16z) concerning its partners holding board seats at Databricks and Fivetran, which are now considered competing companies. This probe, focusing on potential violations of the Clayton Act, could set a precedent for venture capital firms regarding board representation in overlapping portfolio companies.
US Battery Startups Receive $500M DOE Grants, Bolstered by Defense Sector Demand
The Department of Energy awarded $500 million in grants to US battery startups to strengthen the domestic battery supply chain, with a focus on reducing reliance on foreign sources and supporting national security. This funding provides a lifeline for startups facing reduced EV incentives, as the defense sector increasingly drives demand for advanced battery technologies.
Rillet, an AI accounting startup, raises $100M Series C at $1B valuation
AI accounting startup Rillet secured $100 million in Series C funding, led by Iconiq, valuing the company at $1 billion. This funding round occurred two years after the company emerged from stealth and follows rapid growth in its customer base and annual recurring revenue (ARR). The investment highlights continued investor interest in AI solutions for enterprise resource planning (ERP) and finance.
Omacom Foundation Launches with $8 Million to Support Omarchy Quattro Open-Source Project
The Omacom Foundation has been established with $8 million in funding from eight founding patrons, including CEOs of major tech companies. The foundation will support the open-source Omarchy Quattro project, aiming to advance its development and broader availability.
RoboStore, US distributor of Chinese robots, to begin domestic manufacturing by 2027
RoboStore, a major US distributor of humanoid robots from China's Unitree Robotics, announced plans to open a manufacturing facility in New York by early 2027. This pivot to domestic production comes amid increasing US government restrictions on foreign-made robots and aims to address specific industry needs.
Castelion, a missile startup, raises $1 billion at a $13 billion valuation
Castelion, a startup founded by former SpaceX executives, secured $1 billion in Series C funding, bringing its valuation to $13 billion. This funding will be used to mass-produce hypersonic missiles, addressing the Pentagon's need to increase its stockpile of these weapons.
Inertia Enterprises Reduces Fusion Fuel Pellet Production Time from Days to Minutes
Fusion startup Inertia Enterprises has developed a method to produce its fusion fuel pellets in minutes, a process that previously took several days. This advancement addresses a key barrier to commercializing fusion power by making fuel pellet manufacturing more efficient and cost-effective.
Apollo Atomics Secures $26M Seed Round to Develop Compact Nuclear Steam Generators
Apollo Atomics raised $26 million in seed funding to develop a compact steam generator for nuclear power plants, aiming to reduce the cost and size of nuclear reactors. The company's technology focuses on shrinking the steam generator, a component that converts thermal energy into electricity, to make nuclear power more competitive with natural gas.
Harvest invoicing software users face price hikes up to 1500% after Bending Spoons acquisition
Harvest, a timesheet and invoicing software, has increased its pricing for some users by as much as 1500% following its acquisition by Bending Spoons in 2025. This change from a per-user flat fee to a usage-based model is causing significant cost increases for businesses, leading many to consider migrating to other services.
TerraPower to Announce First AI Data Center Project, Leveraging Nuclear Energy Storage
TerraPower, a nuclear power startup, plans to announce its first AI data center project this year, with groundbreaking expected in 2027. The company's Natrium reactor design includes energy storage, which addresses the variable power demands of AI data centers and provides an advantage over traditional nuclear reactors.
Indian fintech Navi raises $100M from Prosus, valuing the company at $1.3 billion
Indian fintech company Navi, founded by Flipkart co-founder Sachin Bansal, secured its first institutional funding of $100 million from Prosus, valuing the company at approximately $1.3 billion. This investment comes as Navi prepares for a potential initial public offering after an earlier attempt was abandoned.
Prevalent AI Secures $22 Million in Growth Funding for Data Fabric Platform Expansion
Prevalent AI, a company specializing in AI-powered data fabric, raised $22 million in growth funding from Integrity Growth Partners. This investment will fund the company's expansion into the US market, scale its go-to-market strategies, and extend its platform beyond cybersecurity applications.
Relativity Networks raises $22M for hollow-core fiber technology to speed data centers
Relativity Networks secured $22 million in SAFE note funding and a $40 million follow-on order for its hollow-core fiber technology. This technology transmits data 30% faster than conventional fiber, which could help alleviate latency issues in large, distributed data center deployments.
Etched's Valuation Doubles to $21 Billion After Raising $700 Million Led by Jane Street
AI hardware startup Etched secured an additional $700 million in funding, bringing its valuation to $21 billion, led by Jane Street. This rapid increase in valuation, doubling in one month, is driven by investor interest in Etched's specialized hardware for AI inference, which promises higher speeds and lower costs.
Anthro Energy Breaks Ground on Kentucky Factory for EV Battery Materials
Anthro Energy has started construction on a factory in Louisville, Kentucky, capable of producing 25 gigawatt-hours of battery electrolytes annually, enough for over 300,000 electric vehicles. This facility aims to provide a domestic, China-free source of battery materials, supporting the U.S. battery supply chain and potentially advancing solid-state battery development.
Reach Capital Closes $265 Million Fund V for AI Startups in Learning, Health, and Work
Reach Capital, a San Francisco-based venture capital firm, has closed its fifth fund, Fund V, with $265 million to invest in AI applications focused on learning, health, and work. This funding round highlights the continued investor interest in specialized VC firms within a challenging fundraising market.
Einride to acquire 500 Tesla Semis, expanding electric trucking fleet and North American presence
Einride, an electric and autonomous trucking company, announced plans to purchase 500 Tesla Semis to be integrated into its fleet over the next two years, starting in September. This acquisition will triple Einride's current fleet size and enable the company to expand its electric freight network in key North American corridors, managed through its Saga AI platform.
Former SpaceX Engineers Launch 1872 to Automate Steel Part Manufacturing with AI and Robotics
Three former SpaceX engineers have founded 1872, a startup aiming to automate steel part fabrication using AI-driven software and robotics, with a prototype factory planned by 2027. This initiative addresses a growing shortage of skilled labor in manufacturing crucial infrastructure components for industries like AI data centers and nuclear reactors.
Terra Industries Closes $52M Seed Round for Defense Infrastructure in Global South
African defense tech company Terra Industries secured an additional $18 million, bringing its seed funding round to a total of $52 million. This funding will support the company's expansion of manufacturing, product deployment, and establishment of new offices to build defense infrastructure in the Global South.
40 Companies Achieved Unicorn Status in July, Highest Monthly Count in Four Years
Forty companies joined The Crunchbase Unicorn Board in July, marking the highest monthly total in over four years. This surge includes three companies valued over $10 billion and indicates an acceleration in new unicorn creation, with 195 companies added in the first half of this year, surpassing the total for all of 2025.
Reddit Shares Rise 11% Following Inclusion in S&P 500 Index
Reddit's stock increased by 11% in after-hours trading after S&P Dow Jones Indices announced its inclusion in the S&P 500, effective August 18. This inclusion means institutional funds tracking the index will need to purchase Reddit shares, potentially driving further demand.
Workday Shares Surge on Report of Silver Lake Takeover Talks
Workday's stock increased by nearly 18% following a Reuters report that private equity firm Silver Lake is in discussions to acquire the human resources software company. This potential acquisition suggests renewed investor interest in software companies, despite recent concerns about AI's impact on the sector.
Team8 Secures $365 Million in New Capital for Venture Fund and Portfolio Investments
Team8, an Israel-based venture firm, announced it has secured an additional $365 million in capital, with $265 million allocated for its third fund and $100 million for existing portfolio companies. This funding brings Team8's total assets under management to nearly $2 billion and will support early-stage enterprise technology companies, particularly those focused on cybersecurity and AI.