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Welcome to Startups Weekly — your hebdomadal recap of everything you ca n’t drop from the world of startups . desire it in your inbox every Friday?Sign up here .
This workweek remind us that originative accounting system does n’t only pass in Hollywood . Some Bob Hope were dash , but startups are rescue on all sorts of promises , from nuclear nuclear reactor to small eV .
Most interesting startup stories from the week
The startup news this hebdomad was very much a mixed bag , with one public exit finalized and another delay and a bustle of other development , both hopeful and disappointing .
Churn concerns : TechCrunch study that several companies with logo on 11x ’s website werenot genuine customersof the a16z- and Benchmark - punt startup . source also said used 11x used originative ways to calculate yearly fall back revenue .
Further delays : Cerebras Systems construe its IPOdelayed again . The AI chipmaker filed to go public in 2024 , but its interior security review has been dragging on .
atomic : Terrestrial Energy , a U.S. nuclear inauguration that develop small modular reactor , go public via SPACand is expect to web $ 280 million . Meanwhile , Bill Gates - back Commonwealth Fusion Systemshit a key milestoneto construct its demonstration reactor .
Not enough : perpendicular farming party Plentyfiled for bankruptcyafter raise nearly $ 1 billion in funding from investor , including SoftBank Investment Advisers , Walmart , Bezos Expeditions , and Jeff Bezos as an angel investor .
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layoff : Block , the fintech startup co - founded by Jack Dorsey , laid off 931 people , fit in to a leaked e-mail . The party , which have Cash App and Square , already conducted layoffs in 2024 .
Rumors : Nvidia is reportedlynearing a deal to acquire Lepton AI , a inauguration that engage out servers power by its AI chip . And FuriosaAI , a South Korean inauguration that urinate chips for AI applications , is said to haverejected an $ 800 million acquisition offerfrom Meta .
Most interesting VC and funding news this week
From pre - seed to a Series E , here are some rounds that caught our attention this week . Plus , some new funding for VCs to empower in new lot .
Hot thermometer : Digital banking startup Mercuryraised $ 300 millionin primary and secondary funding , admit a Series C lead by Sequoia . This also more than doubled its valuation to $ 3.5 billion Emily Price Post - money .
evaluation hump : Island , a company that makes endeavour web web browser , secured $ 250 millionin a Series E go by Coatue that value the Dallas - establish startup at $ 4.85 billion — a significant valuation jut less than one year after its late round of drinks .
Also : Rivian spun outa new micromobility startup call up Also , which already pick up $ 105 million from Eclipse Ventures . Its finish is to build small eV , with a flagship mathematical product going into production next year for consumer in the U.S. and Europe .
Automated : Fast - growing Berlin - base workflow mechanization startup n8nraised $ 60 millionin a round of backing led by Highland Europe , with HV Capital and previous investors Sequoia , Felicis , and Harpoon also participating . Sources said the valuation was tight to $ 270 million .
Ramp for LatAm : Mexico City - based YC alumnus Mendelraised a $ 35 million Series Band expects its business to reach profitability by late 2025 .
Rugs to riches : Arcade , a generative AI market place for design jewellery , simultaneously announcedits $ 25 million Series A funding roundand its enlargement to home goods , startle with rugs .
No free labor : Former Outreach CEO Manny Medina launched Paid , a newfangled startup that has already raised $ 11 million in pre - seed funding tomake sure AI agents get pay .
More AI : San Mateo , California - base Emergence Capitalclosed a $ 1 billion seventh fundto back B2B party , with a keen interest in AI .
gamey check : French VC firm Daphni announced the first windup of its third fund , Daphni Blue , with around$215 million securedout of its overall $ 270 million target .
Beyond vocalisation : Amazon ’s Alexa Fund expanded its CRO beyond vocalization startups , with abroader focus on AI investments .
Last but not least
A Modern report showcased the world ’s 20 hottest candid source startup . you could regain thefull listing and more point here . As you may have guessed , more than one-half of these have AI at their core .
