WHAT’S INSIDE

• Tech Companies to Watch: Startup news and deals from the last week

• Big Movers: The Big tech movers, shakers and partnerships this week

• Making Waves: Companies making a buzz in the Tech world

• Open Deals: Startups raising capital this week

• In The Money: Significant raises last week and why they matter

• Exit Watching: Mergers & Acquisitions and IPOs

• The Funding Buzz: VC & PE Activity To Watch

BIG MOVERS

Big tech moves, movers and trends to watch this week

Google I/O 2025 — Alphabet unveiled a comprehensive AI ecosystem featuring Gemini Ultra subscriptions, Veo 3 (video), Imagen 4 (image), and Lyria 2 (music) models. They also introduced Android XR glasses with Gemini AI integration and Google Beam, an AI-driven 3D communication platform partnering with Zoom HP.

OpenAI's Hardware Push — Acquired Jony Ive's startup io for $6.5B to develop AI consumer devices, while simultaneously expanding its infrastructure with multiple data centers including a 1GW Stargate facility in Abu Dhabi and a $7B JPMorgan-backed center in Texas.

Tesla and xAI — Elon Musk is considering merging Tesla with xAI to boost self-driving tech using xAI's AI. This strategic move could transform the automotive and tech industries but faces hurdles. X faced an outage affecting tens of thousands and DOGE is expanding Grok AI across federal agencies.

Anthropic — The AI company based in San Francisco released Claude Opus 4, an AI model that autonomously handles complex tasks for nearly 8 Hours. It's 65% less likely to take shortcuts and features enhanced memory.

Nvidia — Nvidia is set to launch a new AI chip for China, priced between $6,500 and $8,000 using simpler manufacturing processes to regain market share in China, which fell from 95% to 50%.

China

Huawei — The Chinese tech giant has introduced its first Harmony OS laptops, MateBook Fold and MateBook Pro, to challenge Microsoft and Apple. Despite U.S. tech restrictions, Huawei boasts over 150 apps at launch, enhancing its ecosystem.

Baidu's Apollo Go — Baidu's robotaxi service has completed over 11 million rides since 2019, with a 75% increase in rides in Q1 2025. The company, exceeding analyst expectations.

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MAKING WAVES

Startups, trends and signals to watch in the USA this week

Genspark AI — Based in San Francisco, this AI startup reached $36M ARR in just 45 days without paid marketing. Key products like Genspark AI Sheet, Agentic Download Agent, and AI Drive highlight its rapid growth and innovation.

Crusoe — Secured $11.6B in funding to construct OpenAI's data center in Texas, featuring eight large server buildings. This significant investment positions Crusoe as a key player in supporting AI infrastructure expansion.

LM Arena — The crowdsourced benchmarking project for AI models, raised $100M in seed funding led by a16z and UC Investments, valuing it at $600M. Founded in 2023, it collaborates with major AI firms and denies leaderboard bias allegations.

Icon AI Admaker — An AI-driven advertising tool hit $5M ARR in just 30 days, aiming for $100M in 9 months. $39+/mo, strategic messaging, and CEO endorsements.

Digg — Christian Selig, developer of the Apollo Reddit client, joins Digg as an advisor aiming to revitalize it by enhancing the social internet experience and addressing past API pricing issues.

Klarna — The Swedish fintech company used an AI avatar of its CEO to present earnings, highlighting its AI focus as it reaches 100 million users and achieves profitability.

Real Intent — The real estate startup uses behavioral data & AI agents to predict homeowner transactions, reaching $1M ARR in 6 months with 1000+ zips claimed by top brokerages under its 1AgentPerZip™ model offering excl tradeable rights.

[OPEN DEALS] RAISING DOLLARS:

Startups, firms or funds raising capital this week

[Open Round] PsiQuantum — PsiQuantum, a quantum computing startup based in the US, is in talks for a $750M investment from Nvidia, marking Nvidia’s $1B strategic shift towards quantum technology.

IN THE MONEY

Companies that raised money in the past week and why they matter

Massive Deals

Luminar — The Florida-based automotive tech company secured up to $200M in convertible preferred stock. This follows CEO Austin Russell's departure and recent layoffs.

Strava — The San Fran-based fitness app based in secured new funding, led by Sequoia Capital, raising its valuation to $2.2B. I also acquired cycling training app The Breakaway and boasts over 150M users with a projected $500M in ARR.

Awardco — The employee rewards platform company raised a $165M Series B at $1B+ to enhance global expansion. It serves over 5M users with 300M+ reward options.

Airwallex — A global payments platform headquartered in Melbourne, Airwallex raised $150M, boosting its valuation to $6.2B. The funds will drive AI development, enhancing growth and supporting its expanding international operations.

CellCentric — The UK-based biotech firm secured a $120M Series C to advance its oral treatment for multiple myeloma by combating therapy resistance. RA Capital and Forbion joined.

Large Deals

Monarch — The personal finance app secured $75M to enhance subscriber growth post-Mint's shutdown. Valued at $850M, the app prioritizes paid subscriptions over ads, aiming to streamline money management.

Gravitee — The API and Event Management company raised a $60M Series C to boost its platform focusing on innovation, security, and governance.

RevenueCat — The subscription management company secured a $50M Series C funding to enhance its services beyond mobile apps with product development, talent acquisition, and strategic growth in web payments.

FORE Biotherapeutics — The cancer-focused biotech company raised a $38M Series D-2 to advance plixorafenib, a BRAF inhibitor with a global Phase 2 trial planned and FDA Accelerated Approval by next year.

CX2 — The El Segundo-based defense startup focused on electronic warfare raised $31M to advance autonomous drones and signals-intelligence systems.

Smaller Deals

OpenFX — The cross-border payments platform secured $23M to advance real-time FX settlements, achieving $10B in annual transaction volume. With transactions 99% faster and 90% cheaper.

Catena Labs — Sean Neville, cofounder of Circle, raised $18M for Catena Labs, aiming to create an AI-native bank backed by a16z, Breyer Capital, Circle, Coinbase, and Tom Brady.

Filed — The AI-driven tax automation company raised $17.2M to streamline tax preparation, addressing industry labor shortages. The funding supports their goal to transform tax workflows and expand their team.

Affiniti — A fintech startup focused on AI-driven financial management for small businesses, raised $17M in Series A fundinto target the underserved SMB market.

VUZ — The immersive video platform raised $12M to expand in emerging markets and the U.S. Competing with giants like YouTube and TikTok.

Throne — The Austin-based startup raised $4M for its AI-powered toilet that monitors gut health with help from Lance Armstrong. The device will launch in January 2026.

EXIT WATCHING

Mergers & Acquisitions and IPOs

Numbers Station — Data intelligence platform Alation acquired the workflow automation platform for an undisclosed sum to better utilize AI agents without security risks or hallucinations.

Digg — Kevin Rose, co-founder of Digg, plans to acquire Mozilla's Pocket app, to allow it to leverage Pocket’s user base and features to enhance content sharing.

IPO WATCH

Hinge Health — The San Francisco musculoskeletal pain wearable tech startup’s IPO popped 17% on the first day, valuing the company at $3B, down from $6.2B, reflecting a trend of down-round IPOs.

THE FUNDING BUZZ

VC & PE Activity To Watch

Scribble Ventures — Elizabeth Weil's firm successfully raised $80M for its third fund. Emphasizing collaboration, it leverages a strong network of industry operators to support portfolio companies, achieving notable successes with investments in Whatnot, Atmo, and Poolside.ai.

Google DeepMind — Launched the AI Futures Fund to support startups with early access to advanced AI models, technical expertise, and funding, to accelerate AI growth and innovation.

Redpoint Ventures — The CA-based VC firm raised a $650M early-stage fund, maintaining its previous fund size. Known for AI investments, it recently had significant exits like NextInsurance for $2.6B.

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FOR INVESTORS
Open Deals
Investors– request an intro to startups - [email protected].

Before we restart our placements of raising startups, we’re sharing an open call to send in your own company. Just shoot us an email with a deck and we may feature you in this bulletin.

For detailed pitch materials, please email [email protected] with your deck.
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