WHAT’S INSIDE

• Tech Company Watch: Polymarket, Reliance AI, MongoDB, Runway, Revolut

• 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

Anthropic — Raised $13B in a Series F round, valuing the company at $183B. Led by ICONIQ, with Fidelity and Lightspeed, the investment supports expanding AI products. Revenue surged from $1B to $5B in eight months, on 300,000+ businesses.

OpenAI — Acquired Statsig for $1.1B, enhancing enterprise, Vijaye Raji to CTO of applications. Plans to mass-produce custom AI chips with Broadcom in 2026 ($10B order). Increased its employee stock sale to $10.3B at a $500B valuation (up from $80B in 2023) pre-IPO.

Nvidia — Warns the GAIN AI Act could restrict global chip competition, while SEC filings reveal 39% of its $46.7B Q2 revenue comes from just two mystery customers, highlighting potential vulnerabilities despite record performance.

Apple — Faces lawsuit from authors over AI training with copyrighted books, partnering with Google to integrate Gemini AI into Siri enhances iPhone interaction, marks a shift from Apple's self-reliance in AI, gives Google base access.

Google — Europe fined Google €2.95B for antitrust violations in ad services; separately, a federal ruling forces the tech giant to end exclusive search deals and share data despite avoiding a breakup. Siri deal is a brighter note.

Samsung — Unveiled an ambitious AI Home vision at IFA 2025, targeting 400M Galaxy AI devices by 2025. The initiative includes AI-powered appliances, energy-efficient technologies, and enhanced security products like AI Jet Bot Steam Ultra.

Tesla — Proposed a $1 trillion compensation plan for Musk (granting 423M shares, increasing control to 25%) while shareholders will also vote on investing in xAI to enhance Tesla's AI capabilities amid EV and robotaxi challenges.

[OPEN DEALS] RAISING DOLLARS:

Startups, firms or funds raising capital this week

Mistral AI — French AI startup, founded by former Meta and DeepMind researchers, is nearing a €2B investment round, boosting its valuation to $14B. It aims to challenge Silicon Valley with a focus on European privacy.

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.

FieldAI — The advanced robotic intelligence development startup is raising over $400M. The firm is expanding its reach with projects like the Spirit Runner, a mobile food bus in Central Valley, CA, supported by Save the Children.

MAKING WAVES

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

Polymarket — The blockchain-based prediction market platform based in the U.S. is set to launch after receiving CFTC approval. Following investigations, they acquired QCX to enhance services, with relaxed data reporting rules aiding their market entry.

Reliance Intelligence — Mukesh Ambani launched this subsidiary to enhance India's AI infrastructure through partnerships with Google Cloud and Meta. The initiative involves creating a dedicated AI cloud region and enterprise solutions.

MongoDB — The database platform saw its stock soar 44% after acquiring over 5,000 new customers. This surge is driven by increased demand for AI, solidifying MongoDB's role in the AI-integrated enterprise software sector.

Alibaba — Shares rose nearly 19% with a 26% growth in its cloud division due to strong AI demand. Despite a 21% decline in core e-commerce earnings, it saw a 78% net income rise. Optimism over its AI and international market expansion strategy.

Runway — Based in AI video generation, Runway is shifting to robotics by developing world models for autonomous vehicles and training simulations. Backed by Nvidia and Google, it is targeting the $50B robotics simulation market.

Revolut — The UK-based fintech is exploring hiring investment bankers to potentially acquire a US lender. Revolut is also considering applying for a US banking license and preparing to launch savings products, ramping up its US marketing.

Pure Storage — The CA-based data storage solutions startup saw a 33% stock increase due to revenue from its partnership with Meta, underscoring strong growth in its’ AI-driven enterprise solutions.

Clean Core Thorium Energy — Granted a U.S. export license to sell thorium-based nuclear fuel to India. The company's innovative fuel, blending thorium with high-assay low-enriched uranium, enhances India's safer fuel-based nuclear strategy.

Teaming Up

Alex — The AI coding assistant for Apple's Xcode, founded in 2024 and backed by Y Combinator, is joining OpenAI's Codex division. Following Apple's update for direct AI model access, Alex will stop new downloads after October 1.

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

Quantinuum — Honeywell announced a $600M equity capital raise for the quantum computing firm, valuing it at $10B. The funding will support the launch of Helios, a next-gen quantum system, and enhance partnerships with companies like NVIDIA. Quantinuum aims to lead in universal fault-tolerant computing through strategic collaborations.

Sierra — Bret Taylor's AI startup, based in the U.S., raised $350M at a $10B valuation. Founded in 2024, Sierra builds AI customer service agents and has hundreds of clients. The round, led by Greenoaks Capital, brings total funding to $635M.

ID.me — The secure digital identity company raised $340M in Series E funding to enhance solutions and combat AI-driven fraud. It has prevented over $270B in fraud, serving 152M users. The funding will bolster its leadership in digital identity solutions.

Treeline Biosciences — The cancer treatment company, headquartered in the US, raised $200M, bringing total funding to $1.1B since 2021. They're advancing three programs, including a protein degrader and a small molecule drug for KRAS mutations, aiming to expand clinical testing soon.

You.com — The AI startup, based in San Francisco, raised $150M led by Cox Enterprises. Transitioning from consumer search to developer-focused services, it offers APIs surpassing Google in speed and accuracy, and plans to expand its workforce and open a new office in San Francisco.

Baseten — The AI inference platform company raised $150M in Series D funding, boosting its valuation to $2.15B. The investment will enhance model performance research, infrastructure, and developer tools, addressing a critical bottleneck in AI applications to maximize potential.

Galvanize Therapeutics — The California-based company focuses on pulsed field ablation technology for lung cancer and respiratory conditions. It raised $100M and appointed Doug Godshall as CEO. The funds will support commercial operations and clinical studies, with promising results for non-small cell lung cancer.

LayerX — The Japanese enterprise software startup raised $100M in Series B funding to boost its AI-powered platform, automating back-office workflows for over 15,000 companies. Founded in 2018, LayerX aims for $680M in annual recurring revenue by 2030, addressing Japan's paper-heavy processes.

Large Deals

Exa — The San Francisco-based startup specializing in an AI-centric search engine raised $85M in Series B funding, achieving a $700M valuation. The round was led by Benchmark, marking a significant increase from its previous valuation.

Augment — AI logistics startup founded by Harish Abbott raised $85M in Series A funding to automate logistics tasks via its AI assistant, Augie. The funds will enhance features and expand engineering hires, with strong customer adoption.

Shift5 — The operational intelligence company based in the U.S. raised $75M in Series C funding to enhance its platform for defense and commercial transportation. Major defense contracts and strategic partnerships.

Mojo Vision — The micro-LED platform company secured $75M in Series B Prime funding to enhance AI applications. Led by Vanedge Capital, the funding aims to commercialize advanced micro-LED technology with improved performance.

ProRata — The AI startup raised $40M in Series B financing to launch Gist Answers, enhancing publisher engagement and revenue. The platform, used by over 700 publications, integrates AI search and recommendations, & native, conversational ads.

Etherealize — The Wall Street-focused Ethereum startup raised $40M to develop infrastructure for financial institutions. Backed by Electric Capital and Paradigm, it aims to tokenize assets like mortgages and credit, modernizing trading practices.

Allocate — The AI-driven platform for private market investing, raised a $30.5M Series B. Serves 1,200+ advisory firms, managing $2.5B in assets, offering products like Curations, Fund Solutions, and Insights to transform market engagement.

Smaller Deals

Hello Patient — The healthcare communication startup, based in the US, raised $22.5M in Series A funding led by Scale Venture Partners. Their conversational AI hosted 100,000 calls and 300,000 conversations to reduce administrative burdens.

Isotopes AI — US startup launched Aidnn, an AI agent enabling natural language data queries. Co-founded by ex-Hortonworks executives, it secured a $20M seed and applied for 10 patents, positioning it against rivals like Salesforce's Tableau.

Plural — The energy platform focusing on tokenizing small-scale energy infrastructure raised a $7.13M seed led by Paradigm, with support from Maven11, Volt Capital, and Neoclassic Capital. With over $300M in assets aims to close gap.

Elysian — The insurtech company, specializing in AI-driven commercial insurance, raised $6M in seed funding led by Portage, with American Family Ventures and TenOneTen Ventures. Innovative claims management solutions.

Human Behavior — Based in Silicon Valley, this startup, founded by a 20-year-old Stanford dropout, raised $5M to enhance analytics with vision AI. Their tools offer real-time session replays to automate quality assurance and IT support.

Throxy — The British outbound growth partner raised €5.3M to help traditional industries tackle sales bottlenecks and burnout. Throxy charges clients only for booked meetings. €1.2M in ARR and high engagement, it aims for significant scaling.

EXIT WATCHING

Mergers & Acquisitions and IPOs

Exit Watching

The Browser Company — Atlassian will acquire the developer of Arc and Dia browsers for $610M. The deal aims to create an AI-powered browser for knowledge work, with The Browser Company continuing to operate independently. Expected close: Q2 FY 2026.

Cato Networks — Cato Networks, a SASE Cloud Platform provider, has acquired Aim Security for $350M to bolster its AI security capabilities. Founded in 2022, Aim Security specializes in AI interaction protection. Cato also raised $50M, totaling $409M in Series G funding.

CoreWeave — CoreWeave, a cloud services provider, has acquired OpenPipe, a Y Combinator-backed startup specializing in AI agent development. The acquisition aims to enhance CoreWeave's AI model training offerings by integrating OpenPipe's self-learning tools and transitioning its customers to CoreWeave's platform.

Alex — OpenAI is acquiring the team behind Alex, an AI coding assistant for Xcode, founded in 2024 and backed by Y Combinator. The team will join OpenAI's Codex division and will cease new downloads and feature updates for Alex after October 1.

IPO Watch

Lambda — Lambda, based in San Francisco, specializes in providing enterprises with on-demand access to high-performance GPUs for AI workloads. The company has raised over $1.7B and plans a 2026 IPO, capitalizing on strong investor interest in AI infrastructure services.

Klarna — The Swedish fintech company plans a U.S. IPO next month, targeting a valuation between $13B and $14B, aiming to raise $1B. Shares expected to be priced between $34 and $36. Reported a 20% revenue increase, reaching $823 million.

IPO Season — September is shaping up to be one of the busiest IPO months in years, with Klarna, Gemini, Figure, Legence, Black Rock Coffee Bar, Via, and StubHub all prepping to hit the market after Labor Day.

THE FUNDING BUZZ

VC & PE Activity To Watch

Menlo Ventures — Menlo Ventures, Known for AI investments, plans to raise $1.5B through two funds: Menlo Inflection IV targeting $800M and its flagship fund aiming for $700M. Menlo holds stakes in and manages a $100M Fund for Anthropic.

White Star Capital — The VC firm has launched a $50M seed fund to support early-stage Canadian software startups. With an initial $25M secured, they will lead pre-seed and seed financings in Canada and the US, $500K to $2M per startup.

Carlyle Group's AlpInvest — Carlyle Group's AlpInvest unit raised $20B for global secondary strategies, closing the AlpInvest Secondaries Fund VIII at a $15B hard cap, doubling its investable capital for secondary private equity assets.

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