Startup news covering emerging companies, founders, funding rounds, accelerators, and entrepreneurship developments in the tech and business world.
AI cloud provider Crusoe finalized a $3 billion funding round, reaching a $30 billion valuation co-led by Atreides Management and Valor Equity Partners. The deal, which doubles its previous valuation, includes a new five-year, $13 billion infrastructure contract with Jane Street.
Barron's reports that Nothing, a consumer tech startup, has raised $450 million to challenge Apple and Samsung despite a broader venture capital shift toward artificial intelligence. The article suggests the company's success is surprising given the market's focus on AI, highlighting its ambition to compete in the smartphone sector.
Gimlet Labs has raised $300 million in a new funding round led by Andreessen Horowitz, achieving a $3 billion valuation. The investment includes participation from Arm Holdings and Microsoft's M12 venture fund for the AI software developer that distributes tasks across different chip types.
The European Space Agency signed its first contracts under the European Launcher Challenge with startups Rocket Factory Augsburg, Isar Aerospace, and PLD Space on August 27. This initiative aims to diversify launch supply through European space startups.
AI OS provider Wonderful closed a $550 million Series C funding round led by Insight Partners, valuing the company at $5 billion. The Amsterdam-based firm plans to use the capital to scale its global operations and product development, building on recent growth to 650 employees and presence in over 35 markets.
The Wall Street Journal reports that Betaworks invested $150,000 in Hugging Face through its 2016 accelerator program, with additional syndicated angel investment. The piece highlights the early backing of the company while it was developing a chatbot for teens, documenting a successful venture capital decision prior to the firm's later prominence.
Food delivery startup Wonder laid off 150 employees this week to focus on physical expansion and automation technologies. The move follows a recent $650 million valuation boost, though the company still anticipates significant cash burns through 2029 before reaching profitability.
Auxxo closed its second Female Catalyst Fund at €33.3 million, joining a wave of new investment vehicles targeting female entrepreneurs in Europe. European venture capital funding for female founders hit €9.7 billion this year, driven largely by investments in deep-tech areas like AI and quantum computing, though all-female teams still represent a small share of total deal value.
Indian Oil Corporation Ltd chairman A. S. Sahney announced a commitment to fund start-ups working in hydrogen and mobility through an association with the CSIR-National Chemicals Laboratory incubation centre. Selected ventures will receive up to Rs.50 lakhs in convertible funding, retaining full IP ownership.
Elucid secured $55 million in an oversubscribed Series D round, bringing total capital to $185 million. New investors include IAG Capital Partners and Elevage Medical Technologies, alongside a major medtech strategic investor. Funds will accelerate the commercial expansion of its FDA-cleared Plaque-IQ software and prepare for the launch of its BioIntegrated FFR-CT product.