WHAT’S INSIDE

• Tech Company Watch: Ramp, Rivet, Replit, Oboe, Mercor, Vercel, Pure Cipher

• 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

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BIG MOVERS

Big tech moves, movers and trends to watch this week

Oracle — Signed a $300B cloud computing deal with OpenAI, boosting its stock by 36%. Projects $114B in revenue by fiscal 2029, Oracle's focus on GPU cloud demand has driven a rally in AI chip stocks like Nvidia, Broadcom, and CoreWeave.

OpenAI — Projects $115B cash burn through 2029, restructuring into a public benefit corporation with Microsoft's approval, paving way for potential $500B IPO with nonprofit parent retaining a $100B equity stake despite Elon Musk's lawsuit.

Microsoft — Integrating Anthropic's AI technology into Office 365 to reduce reliance on OpenAI. This strategic move aligns with a growing rift as OpenAI develops its own infrastructure.

Meta — Entered a $140M multi-year contract with Black Forest Labs to enhance its AI image technology, with an initial $35M commitment followed by $105M, as part of its strategy to bolster AI capabilities.

Amazon — Developing augmented reality glasses codenamed "Jayhawk," set for release in late 2026 or early 2027. The glasses will include microphones, speakers, a camera, and a full-color display, marking its entry into the consumer AR market.

[OPEN DEALS] RAISING DOLLARS:

Startups, firms or funds raising capital this week

Mercor — An AI training startup connecting firms like OpenAI and Meta with domain experts. Aiming for a $10B valuation, it boasts a $450M ARR. Expands to software infrastructure for reinforcement learning. Faces legal challenge from Scale AI.

Vercel — The San Fran-based web and AI applications startup is raising hundreds of millions of dollars at a valuation of $9B, tripling its previous valuation from 2024. Acce is reportedly leading the round, bringing total to $500M+.

Pure Cipher - A deep-tech AI Security startup developing technologies to prevent AI data poisoning and compromise, targeting a $1.6T market of Enterprise and already secured DoD clients. Founded by AI & cybersecurity experts.

MAKING WAVES

Startups making waves, hot trends and signals to watch in the USA this week:

Ramp — The fintech startup hit $1B in ARR and a $22.5B valuation. Expanding into expense management and travel products, Ramp's growth is driven by AI initiatives, including AI agents for expense approvals.

Rivet — Awarded a $200M contract by the Army, the AI startup is developing AI-enabled soldier glasses with features like night vision and map display. Aims to enhance battlefield intelligence, efficiency, working closely with soldiers over 18 mths.

Replit — A leading coding platform based in San Francisco, Replit secured $250M in funding, reaching a $3B valuation. ARR soared from $2.8M to $150M within a year. Key investors include Prysm Capital, Google’s AI Futures Fund, and YC.

Oboe — Launched by Anchor's co-founders, Oboe is an AI-powered educational app offering customizable courses in various formats. Located in the US, it targets lifelong learners with flexible, high-quality content, including audio lectures and interactive tests, with both free and paid options available.

Autonomous Vehicles Trend

Uber & Blade Air Mobility — Uber will integrate Blade helicopters into its app by 2026, focusing on routes like airport transfers. This follows Joby's acquisition of Blade's passenger business.

Lyft — the San Francisco robotaxi startup debuts in Atlanta, partnering with May Mobility. Featuring hybrid-EVs with safety operators, Lyft seeks to rival Uber and Waymo and plans to expand robotaxi services to multiple markets.

Uber x Momenta — Uber and Chinese autonomous vehicle startup Momenta will begin testing robotaxis in Munich, Germany, in 2026. The initiative, part of Uber's global AV strategy, will start with vehicles featuring human safety operators.

Supernal — Hyundai's electric air taxi startup, based in the US, has paused its aircraft program after the departure of its CEO and CTO. Originally aiming for a 2028 launch, the company is reassessing its timeline amid industry challenges and staff cuts.

Teaming Up

Real Intent and RealScout — The real estate tech firms have launched the Listing Engine, combining exclusive lead data with automated nurturing technology. This partnership enhances lead-to-appointment conversion rates to 8%, providing agents with predictive buyer and seller intent data for improved lead conversion.

IN THE MONEY

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

Massive Deals

Databricks — The San Francisco-based AI database company has reached a $100B valuation after a $1B funding round led by Thrive and Insight Partners. With a $4B ARR, Databricks is enhancing its AI database capabilities.

PsiQuantum — The CA-based quantum computing company raised $1B at a $7B valuation. Led by existing investors with new backing from Nvidia, it aims to deliver a commercial-grade, 1M-qb machine by 2027, integrating quantum hardware with AI.

Cognition — The AI coding platform, headquartered in San Francisco, raised over $400M at a $10.2B valuation post-acquisition of Windsurf. The round was led by Founders Fund, boosting revenue from $1M to $73M ARR.

Replit — The AI-driven code generation company raised $250M at a $3B valuation. The funds will enhance research, development, and marketing. Known for its tools for non-technical users, ARR jumped from $2.8M to $150M in under a year.

Odyssey Therapeutics — The Boston-based biotech company raised $213M in a Series D to advance its clinical pipeline for autoimmune diseases by developing transformative treatments, with new board members from various investment firms.

Perplexity — The AI-powered search startup based in the US has raised $200M at a $20B valuation. Founded three years ago, it has secured a total of $1.5B in funding. The company aims to compete with Google, offering to buy Chrome for $34.5B.

Apex — Apex, a Los Angeles-based satellite solutions provider, raised $200M in a Series D round led by Interlagos, valuing the company over $1B. This funding will enhance production capacity and vertical integration, with plans to expand by 50%.

Aven — The home equity-backed credit card company raised $110M in Series E funding at a $2.2B valuation. Aiming to expand into mortgage refinancing and other services, Aven leverages machine learning to reduce costs.

Large Deals

Adaptive Security — The AI-driven cybersecurity company raised a total of $55M from the OpenAI Startup Fund. Focusing on combating AI-enabled threats like deepfake impersonations, it offers tailored training and real-time risk assessments.

proteanTecs — Electronics health monitoring company proteanTecs, based in Israel, secured $51M in Series D funding. Led by IAG Capital Partners, with participation from Samsung, Arm, and Siemens.

Higgsfield — The AI video generation company, founded by Alex Mashrabov, raised a $50M Series A to enhance its "Click-to-Video" platform. With over 11M users, it integrates proprietary and 3rd-party models to simplify Social video creation.

Nitricity — California-based Nitricity raised a $50M Series B to scale its low-emission organic fertilizer technology. The funds will build a new facility in California, expanding production by 100x with output sold until 2028. Expanding to EU.

Motion — The AI agent startup, co-founded by Harry Qi, raised $38M in a Series C to expand its integrated suite for SMBs. With over 10,000 B2B customers and $10M in annual revenue, it aims to streamline business functions akin to Microsoft Office.

Koi — Koi, a cybersecurity startup founded by IDF 8200 alumni, raised $38M in Series A funding. The company, which provides enterprise endpoint protection, achieved $1M+ revenue in eight months, protecting over 500,000 endpoints globally.

Brain Co. — Co-founded by Jared Kushner, this startup focuses on integrating AI into large businesses and governments. Based on strategic partnerships with OpenAI, it raised $30M to develop applications that address AI adoption challenges,.

Penguin Ai — The healthcare AI startup, based in the U.S., raised $29.7M in a Series A round led by Greycroft. The funding will enhance their platform for streamlining administrative tasks, with aims to accelerate product development.

Smaller Deals

Micro1 — The data labeling startup led by Ali Ansari raised $35M Series A at $500M valuation, with AI recruiter Zara bringing thousands of experts, generating $50M ARR.

Clockwork Systems — The clock synchronization startup raised $20.5M led by NEA to launch FleetIQ, enhancing GPU utilization for AI workloads, with CEO Suresh Vasudevan focusing on improving AI infrastructure economics.

Veritas Capital — The private equity firm closed a $14.4B fund exceeding its target amid strong IT exit environment, focusing on regulated markets leveraging advances in software, data, and AI.

Runware — The AI platform for developers raised $13M seed to enhance access to 400,000+ AI models, with expansion plans into audio generation and LLMs while maintaining competitive pricing.

Standard Fleet — The fleet management platform raised $13M Series A for hardware-free vehicle connectivity supporting 30+ automakers, with new Digital Key feature for remote access and automated payments.

AegisAI — The cybersecurity startup founded by former Google leaders raised $13M seed led by Accel and Foundation Capital to develop an AI-driven email security platform against phishing attacks.

Accordance — The tax accounting AI startup founded by Stanford dropouts raised $13M from Khosla Ventures and General Catalyst, serving 50+ CPA firms to address the accounting talent crisis.

Nuclearn — The AI for nuclear startup founded by former Palo Verde employees raised $10.5M to enhance tech used in 65+ reactors globally, focusing on automation with human oversight and specialized AI models.

Quack — The Israeli proactive AI customer support startup raised $7M Seed led by Hanaco Ventures and Storytime Capital for U.S. expansion, with clients including Artlist and WalkMe.

Rendezvous Robotics — The space infrastructure startup raised $3M to develop modular "tesserae" tiles that autonomously assemble in orbit, with demonstrations planned on the ISS and future missions in 2026-2027.

Pathwork — The AI-driven insurtech raised $3.5M seed led by Costanoa and industry angels to enhance its platform for life/health insurance, improving workflow efficiency and quoting accuracy.

EXIT WATCHING

Mergers & Acquisitions and IPOs

Paramount Skydance — The newly merged entity is now preparing a bid for Warner Bros. Discovery. The potential acquisition faces regulatory and financing hurdles, with discussions still in the preliminary stages and no formal talks yet.

SpaceX — SpaceX will acquire 50 MHz of wireless spectrum from EchoStar for $17 billion, facilitating its "Direct to Cell" service for global broadband-speed mobile internet. The deal, split evenly between cash and stock, aids EchoStar's debt.

Vimeo — Video hosting platform Vimeo, based in New York, will be acquired by Bending Spoons for $1.38 billion in an all-cash deal, set to close in Q4 2025. The acquisition aims to boost Vimeo's growth and offerings amid market value decline.

F5 — F5 is acquiring CalypsoAI for $180M to strengthen its AI enterprise security solutions. CalypsoAI, founded in 2018, focuses on securing genAI infrastructure. The cash-based deal follows a 12% revenue rise to $780M in Q3.

IPO Watch

Klarna — Klarna, a fintech company, went public on the New York Stock Exchange, raising $1.4B with shares at $40, surpassing expectations. Existing investors like Sequoia Capital sold most shares but retained significant holdings.

Via — Mobility solutions provider Via completed its IPO, with shares opening below the $46 price but closing over $49, valuing the company at $3.9B. Raising $328M, Via aims for growth and acquisitions, despite a $37.5M loss in early 2025.

Figure — The home equity lender plans an IPO targeting a $4.13B valuation, aiming to raise $526M by issuing 21.46 million shares at $18-$20 each. Uses blockchain to fund $17B in home equity loans, reporting a $20M net income on $341M revenue.

Netskope — Specializing in cloud security software, Netskope is planning a US IPO with a valuation up to $6.5 billion, offering 47.8 million shares priced between $15 and $17. The company is tapping into the growing demand for cybersecurity.

Fermi — Co-founded by former U.S. Energy Secretary Rick Perry, Fermi plans an IPO on Nasdaq under "FRMI". The company is developing the world's largest energy and data complex using nuclear, natural gas, and solar to support AI growth.

THE FUNDING BUZZ

VC & PE Activity To Watch

CoreWeave — AI infrastructure provider launches CoreWeave Ventures to invest 7-9 figures in AI startups, offering both cash and access to scarce Nvidia hardware despite facing high costs in the competitive market. Stock rose nearly 9%.

Aurora Capital Partners — PE firm raised $2.1B for its Aurora Equity Partners VII fund, surpassing target to invest in US middle-market companies across business, industrial, and tech-enabled services, its largest fund since 1991.

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