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Latest AI, Biotech & Fintech Raises + News

TECH IN THE NEWS

Blockchain.GovElon Musk is exploring using blockchain for federal spending tracking and data management at the new Department of Government Efficiency.

Crypto ReserveTrump ordered the creation of federal crypto working group led by VC David Sacks to evaluate regulations and a potential government reserve.

X Debt SaleMorgan Stanley is reportedly leading an effort to sell as much as $3B of X's $13B debt from the $44B Twitter acquisition at 90-95 cents on the dollar.

Green DataOpenAI's $100B joint venture with Oracle and SoftBank reportedly plans on using solar and battery-powered data centers amid power concerns.

AI IdentitySam Altman's web3 digital identity project World is reportedly developing tools to verify AI agents that are acting on behalf of human users.

Meta AI PushMeta plans to spend $65B on AI this year as leaders of US AI companies worry about falling behind Chinese model DeepSeek's capabilities.

DEALS WE’RE WATCHING
Closed Deals:

MASSIVE DEALS

Anthropic — The SF-based AI startup raised $1B from Google, bringing total raised to $14.7B. Additional $1B+ investment expected to boost valuation to $60B.

DDN — The Chatsworth-based data storage company received $300M strategic investment from Blackstone at $5B valuation to expand into healthcare, autonomous vehicles and AI.

Neko Health — The Swedish AI body scanning startup co-founded by Spotify's Daniel Ek raised $260M Series B at $1.8B valuation, led by Lightspeed with General Catalyst, O.G. Venture Partners, Rosello, Lakestar and Atomico.

ElevenLabs — The Brooklyn-based synthetic voice startup raised $250M Series C at $3-3.3B valuation, led by ICONIQ Growth with Andreessen Horowitz participating.

StackBlitz — The company behind Bolt, an AI-powered web app development and code deployment platform raised a $105.5M Series B, led by Emergence & GV, with Madrona, The Chainsmokers (Mantis), and Conviction participating.

LARGE DEALS

Highnote — The San Francisco-based payment card management platform raised a $90M Series B led by Adams Street Partners.

Render Services — The San Francisco-based cloud computing platform raised an $80M Series C led by Georgian, with 01A and Avra.

ShopMy — The New York-based influencer marketing platform raised a $77.5M Series B at a $410M valuation (5X+ up), led by Bessemer and Bain Capital.

Fundraise Up — The New York-based nonprofit donor engagement platform raised $70M led by Summit Partners, total raised $80M+.

Eleos — The Boston/Tel Aviv AI mental health startup raised a $60M Series C, led by Greenfield Partners with Dell Foundation, Union Tech, Centerstone and others.

Method Financial — The Austin-based debt management platform raised a $41.5M Series B led by Emergence Capital, with Avra Capital and Samsung Next.

Clay — The New York-based data enrichment platform raised a $40M Series B at $1.25B valuation, led by Meritech Capital.

SMALLER DEALS

Bedrock Energy — The Austin-based geothermal systems startup raised a $12M Series A led by Titanium Ventures, with Energy Impact Partners and others.

Spaceium — The San Francisco-based space service stations startup raised a $6.3M seed led by Initialized Capital, with Y Combinator and others.

Coval — The San Francisco-based AI agent testing platform raised a $3.3M seed led by MaC Venture Capital, with General Catalyst and Y Combinator.

Intryc — The San Francisco-based AI customer support startup raised a $3.1M seed from General Catalyst, Sequoia, and others.

Riley AI — The San Francisco-based customer data analysis startup raised a $3M seed led by Vertex Ventures US, with NextView and others.

CapeZero — The Brooklyn-based clean energy tax credit software startup raised $2.6M led by Powerhouse Ventures, with participation from Climactic and others.

Companies to Watch:

[Open Deal] Retro Biosciences — The San Francisco aging-focused biotech startup is raising a $1B Series A after announcing an OpenAI partnership for drug development. It received a previous $180M seed from Sam Altman, who will re-up.

Clay — The GTM development environment platform that 6x'd revenue in 2024 raised $40M Series B expansion at $1.25B valuation, led by Meritech Capital. Expected 2.5x growth in 2025 to $75M with low to no burn.

Nu Holdings — The Brazilian crypto-friendly digital bank raised $750M from Warren Buffett's Berkshire Hathaway increasing its stake by 3x to 0.4%.

Coval — The San Fran YC grad AI startup startup evaluates enterprise AI voice and chat agents' performance using Waymo’s self-driving methodology. It just raised a $3.3M seed led by MaC VC with help from YC and General Catalyst.

DEALS WE’RE WATCHING
The Funding Buzz 

Madrona Capital — The Seattle-based firm raised a record $770M for its 30th anniversary, surpassing its 2022 raise of $690M. The funds will be used to invest in AI applications in travel, life sciences, and infrastructure that “can remove friction” between foundational models and users.

Binance Labs — The $10B AUM crypto VC arm of crypto company Binance is transforming into a family office for the company’s co-founders CZ Zhao and Yi He (the mother of his three children).

Exit Watch:

Divvy Homes — The A16z-backed rent-to-own startup was acquired by Brookfield Properties for $1B, though some investors may miss payouts due to deal terms.

Circle Internet Group — The USDC stablecoin issuer acquired Hashnote Management, provider of the USYC tokenized money market fund investing in U.S. Treasury Bills; terms were not disclosed.

Sana Labs — The nine-year-old Swedish AI agent developer is planning a US IPO in the coming years, according to its CEO Joel Hellermark.

Mistral AI — The two-year-old French open-source LLM startup confirms its IPO plans, rejecting acquisition offers; it is well-capitalized for global expansion.

Voyager Technologies — The Denver-based space station developer files for an IPO, seeking a $2-3B valuation after raising $215M+ from Afterburner Capital and others.

The Tech Buzz

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