WHAT’S INSIDE

• Tech Companies to Watch: OpenMind, Brex, Joby, Harvey, Truth Social

• 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

OpenAI — Secured $8.3B at a $300B valuation in an oversubscribed round backed by Dragoneer, Blackstone, and TPG to support expansion as it negotiates a potential IPO with Microsoft. ChatGPT hits 5M business users as GPT-5 launches.

Apple — Tim Cook aims to boost AI investments. Developing an AI "answer engine" via new Answers, Knowledge, and Information team. Plans $100B investment in U.S. made. Teases iPhone models, iPads, Macs, and Apple Glasses.

Google — Launched Deep Think, its most advanced reasoning model, as part of the Gemini 2.5 series. Google Finance gets AI enhancements to provide advanced charts, real-time data, and a live news feed to rival Yahoo Finance and Seeking Alpha.

xAI — Elon Musk announced plans to integrate ads into Grok's responses to enhance X's ad business. Advertisers can pay for AI chatbot-suggested solutions, utilizing xAI technology for improved ad targeting.

Palantir — The Denver-based data analytics company raised its annual revenue forecast to $4.14-$4.15B, driven by strong AI demand from businesses and the U.S. government. Shares have doubled this year, and it's hiring top AI talent.

Anthropic — With 32% market share in large language models, it surpassed OpenAI's 25% by excelling in coding with a 42% share, driven by models Claude 3.5 and 3.7.

Mistral — The AI startup is eyeing a $10B valuation in its latest fundraising. Founded in France, Mistral is rapidly expanding its technology solutions, gaining significant attention in the industry and positioning itself for substantial growth

Intel — Faced with calls for CEO Lip-Bu Tan's resignation over alleged conflicts of interest with China. Enhancing efficiency amidst competition from Nvidia and AMD. Engaged in the CHIPS Act, Intel aims to boost US chip manufacturing.

Teaming Up

Hyundai & Fermi America — Partner on a nuclear-powered datacenter in Texas, aiming for the world's largest advanced energy campus with 6GW of nuclear power.

LG Innotek & Aeva Technologies — LG Innotek partners with Aeva Technologies to produce Aeva's Atlas Ultra 4D lidar sensor for automotive, consumer electronics, and robotics. LG is investing $50M for a 6% stake.

IN PARTNERSHIP WITH HEARTSCIENCES

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[OPEN DEALS] RAISING DOLLARS:

Startups, firms or funds raising capital this week

Anthropic — A leader in AI research based in San Francisco, Anthropic is nearing a $3B-$5B funding round led by Iconiq Capital, potentially raising its valuation to $170B. CEO Dario Amodei emphasizes ethical funding, cautious of sovereign funds.

n8n — The German software startup, specializing in workflow automation, is aiming to raise over $100M at a valuation above $1.5B. With an ARR of $40M, n8n is signaling strong growth potential.

MAKING WAVES

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

Harvey — The AI-powered legal startup hits $100M ARR in just three years. Serving over 500 customers like Comcast. Growth is spurred by increased client usage. With over $800M raised, it is expanding globally, & strengthening leadership.

OpenMind — Developing OM1, an open software layer for humanoid robots, akin to Android. Their protocol FABRIC enhances robot learning and interaction. Founded in 2024, they've raised $20M and plan to launch robotic dogs by September.

Brex — A US-based fintech specializing in credit and debit cards and spend management has secured an EU license to operate across 30 countries. With $500M projected revenue in 2023, Brex aims for UK expansion and a potential IPO by 2025.

Joby Aviation — Acquiring Blade Air Mobility's helicopter rideshare business for up to $125M, gaining 12 terminal networks. Plans for Dubai commercial operations and global expansion are underway.

Truth Social — Launched Truth Search AI, an AI-powered search engine using Perplexity's technology for accurate answers with citations. The platform controls AI source access, enabling narrative control.

IN THE MONEY

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

Massive Deals

OpenAI — OpenAI secured $8.3B in funding, reaching a $300B valuation in an oversubscribed round backed by Dragoneer, Blackstone, and TPG to support expansion as it negotiates a potential IPO with Microsoft.

Apreo Health — The US-based healthcare startup raised $130M to advance its minimally invasive lung scaffold for emphysema treatments howing high success in previous studies.

Blue J — The New York-based tax research platform raised $122M in Series D led by Oak HC/FT and Sapphire Ventures. The funding will enhance its generative AI capabilities, expand the team, and boost market reach to transform tax research.

Clay — The AI-powered sales tools startup raised a $100M Series C at a $3.1B valuation, led by CapitalG. With total funding reaching $204M and clients like OpenAI and Canva, Clay aims for $100M revenue by year-end, 3x its’ 2024.

Capacity — The AI support platform provider for contact centers raised $92M to expand its offerings, including acquisitions of Call Criteria and Verbio Technologies. With $60M in annual revenue, Over $155M in total funding.

Chai Discovery — The San Francisco startup specializing in AI-driven drug design raised $70M in Series A funding at a $550M valuation. Led by Menlo Ventures with support from OpenAI and others to expand research.

Rillet — The New York-based AI accounting startup raised $70M in a Series B round, led by Andreessen Horowitz and ICONIQ, reaching a valuation of $500M. The company has raised over $100M in total funding.

Large Deals

Alaan — The UAE spend management startup raised a $48M Series A funding, one of the largest rounds in the MENA region. Founded by former McKinsey consultants, it has processed over 2.5M transactions and plans to expand in Saudi Arabia.

GeoWealth — The Chicago-based investment platform raised $38M in Series C funding led by Apollo. The strategic partnership aims to enhance customizable public-private model portfolios for advisors.

Lyric — The AI-powered supply chain platform raised a $43.5M Series B to boost product development and AI capabilities. Has seen significant revenue growth and enterprise adoption, and aims to transform supply chain management.

Fundamental Research Labs — The AI startup founded by Dr. Robert Yang secured $33M in Series A funding to advance AI agents for various sectors to support its products like Fairies and Shortcut and expand in productivity applications and future robotic developments.

Pantomath — The AI-powered data operations company raised a $30M Series B led by General Catalyst to enhance enterprise data reliability with AI-driven solutions. Supports Fortune 500 analytics pipelines, shifting ops from reactive to proactive.

QuamCore — The Israeli quantum processor startup raised $26M Series A to develop scalable architecture aimed at reaching one million qubits, supporting transition from simulation to fabrication.

Smaller Deals

Casap — The payment dispute resolution AI startup raised $25M Series A to combat first-party fraud, helping clients reduce fraud losses by over 51% while expanding AI capabilities.

Tavily — The AI startup founded by Rotem Weiss, raised $25M led by Insight Partners to connect AI agents to the web while ensuring compliance, enabling agents to extract insights from diverse sources.

Subzero Labs — The blockchain startup led by Ade Adepoju raised $20M to develop Rialo, a blockchain for real-world applications, backed by Pantera Capital and Coinbase.

Jeh Aerospace — The Indian aerospace components startup raised $11M Series A to boost production, founded by ex-Tata Group executives focusing on Tier 1 and Tier 2 manufacturers with existing profitability.

OLarry — The tax strategy startup secured $10M Series A led by TTV Capital to develop AI-powered tax services, with plans to acquire CPA practices and develop predictive tools.

Streamline AI — The platform for in-house legal teams raised $8.6M Series A led by Blumberg Capital, bringing total funding to $14M to enhance efficiency through automated intake and matter management.

Journey — The loyalty platform for independent hotels and short-term rentals raised $7.7M in seed funding co-led by Lerer Hippeau and Slow Ventures, using AI for personalized rewards.

Cafeteria — The consumer insights platform for Gen Z and Alpha raised $3M at a $22M valuation from Marquee Ventures and others to enhance AI capabilities and data infrastructure.

EXIT WATCHING

Mergers & Acquisitions and IPOs

Paramount Skydance Corp. — David Ellison is CEO of the newly merged entity. Under FCC investigation for management policies, it plans to restructure into three divisions with a tech focus, cutting costs while supporting its news division.

Joby Aviation — Acquiring Blade Air Mobility's helicopter rideshare business for up to $125M, gaining 12 terminal networks. Plans for Dubai commercial operations and global expansion are underway.

WaveForms — Meta acquired AI audio startup valued at $160M pre-money after raising $40M; co-founders Alexis Conneau and Coralie Lemaitre join Meta's Superintelligence Labs to work on "Speech Turing Test" and "Emotional General Intelligence."

SentinelOne — Cybersecurity firm acquiring Prompt Security to enhance AI security offerings; deal expected to close in Q3 FY 2026, providing real-time protection against AI threats amid rising GenAI privacy risks.

IPO WATCH

Heartflow — California-based medtech company preparing for IPO at $1.3B valuation, offering 12.5M shares at $15-17; AI-driven cardiac diagnosis firm saw $125.8M revenue in 2024. Expanded Medicare coverage starting next year.

Firefly Aerospace — Texas-based commercial space company raised $868.3M in upsized IPO, pricing shares at $45 with $6.32B valuation; strong demand reflects interest in diversifying U.S. space contractors

THE FUNDING BUZZ

VC & PE Activity To Watch

Airtree Ventures — The Australia-based VC firm closed a $420M fifth fund, backed by investors like Harvard and MetLife. This underscores the growing foreign interest in Australia's tech scene, home to unicorns such as Canva.

Draper Associates — Tim Draper's firm raised $200M for its eighth fund, celebrating 40 years in VC. With Bitcoin's market cap over $4T, Draper continues investing in various crypto ventures as a long-time Bitcoin advocate.

New Era Capital Partners — The Israel-based VC firm raised $120M to back early-stage startups focused on AI solutions in cybersecurity, enterprise software, finance, and smart transportation, seeing opportunities in Israeli high-tech.

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FOR INVESTORS
Open Deals
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