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FUNDING$545M Series G at $20B
Whatnot's $20B Round Is the Best AI News This Week
Live-shopping platform Whatnot raised $545 million at a $20 billion valuation without an AI story to tell -- proof that durable consumer businesses still get funded on their own merits.
THE VC READ
AI's App Layer Raised $832M in a Single Week
FUNDING
AI's App Layer Raised $832M in a Single Week
K2 Space, Zenity, HappyRobot and Convex raised a combined ~$832M in eight days -- satellites, AI-agent security, enterprise agents and AI-native backend infrastructure, not a single foundation model among them.
BY THE NUMBERS
Firmus Grid Raises $2B for AI Factories in APAC
FUNDING$2B at $10.5B
Firmus Grid Raises $2B for AI Factories in APAC
Australian AI infrastructure builder Firmus Grid closed a fully subscribed $2 billion round from Nvidia, Coatue and Blackstone, pushing its valuation above $10.5 billion to fund AI-factory expansion across Australia and Asia-Pacific.
DEEP DIVE
Ex-Bitcoin Miner Firmus Raises $2B for AI Factories
FUNDING$2B at $10.5B+
Ex-Bitcoin Miner Firmus Raises $2B for AI Factories
Former bitcoin miner Firmus Grid raised a $2 billion strategic round from Nvidia, Coatue and Blackstone, pushing its post-money valuation above $10.5 billion to build AI data centers across Australia and the Asia-Pacific.
DEEP DIVE
The Real AI Bottleneck This Week Was Power
FUNDING$18.8B combined
The Real AI Bottleneck This Week Was Power
Three separate US infrastructure rounds this week -- Valar Atomics' $1B nuclear raise, Base Power's $1B grid battery round, and Tesla-SpaceX's $16.8B chip fab -- show investors funding the physical layer beneath AI as heavily as the models themselves.
BY THE NUMBERS
Naive Raises $28.5M for AI Agents That Run Companies
FUNDING$28.5M Series A
Naive Raises $28.5M for AI Agents That Run Companies
Naive raised a $28.5M Series A led by Nexus Venture Partners to let AI coding agents like Cursor and Claude Code provision payments, phone numbers and US LLC incorporation through a single API.
BRIEF
Hadrian Raises $1.37B to Automate Defense Factories
FUNDING$1.37B Series D
Hadrian Raises $1.37B to Automate Defense Factories
Hadrian raised a $1.37B Series D at a $7.87B valuation -- roughly 5x its prior mark -- to build automated factories that machine precision parts for SpaceX, Anduril and other aerospace and defense suppliers.
BRIEF
This Week's AI Infra Rounds Already Top $3.5B
FUNDING
This Week's AI Infra Rounds Already Top $3.5B
Six rounds priced between August 3 and 6 -- Base Power, Valar Atomics, ICEYE, Olix, Obsidian Security and Faye -- add up to roughly $3.5B in fresh capital, almost all of it flowing to physical AI infrastructure, not software.
BY THE NUMBERS
Hadrian Valuation Hits $7.9B on Defense Boom
FUNDING$1.37B round
Hadrian Valuation Hits $7.9B on Defense Boom
Hadrian raised $1.37 billion led by Baillie Gifford and JPMorgan Strategic Investment Group at a $7.9 billion valuation, more than quadrupling its January mark as investors pour capital into AI-driven defense manufacturing.
BRIEF
Faye Raises $50M to Scale Travel Protection
FUNDING$50M Series C
Faye Raises $50M to Scale Travel Protection
Faye raised a $50M Series C led by Madrona at an estimated $500M valuation, funding growth for its AI-powered travel protection platform that pays claims directly instead of routing through legacy insurers.
BRIEF
Omilia Raises $67M for Customer Support AI
FUNDING$67M Series B
Omilia Raises $67M for Customer Support AI
Omilia, a Cyprus-based conversational AI company, raised a $67M Series B led by Expedition Growth Capital after growing annual recurring revenue tenfold to $60M, its first raise since a $20M round in 2020.
BRIEF
DeepSeek Resumes Funding Talks, Preps Price Hikes
FUNDING~50B yuan target
DeepSeek Resumes Funding Talks, Preps Price Hikes
DeepSeek resumed a funding round targeting 50 billion yuan at a roughly 500 billion yuan pre-money valuation, expected to close in late August, while separately warning developers of significant API price increases ahead.
BRIEF
OpenAI Buys Patents From Altman-Backed Rain AI
FUNDING
OpenAI Buys Patents From Altman-Backed Rain AI
OpenAI acquired patents from Rain AI, the Sam Altman-backed chip startup, after a full acquisition fell through when Rain AI's own $150M funding round failed to attract investors.
BRIEF
Moove Raises $250M to Fuel Robotaxi Fleets
FUNDING$250M Series C
Moove Raises $250M to Fuel Robotaxi Fleets
Moove raised a $250M Series C led by Mubadala at a $2.1B valuation, repositioning its 42,000-vehicle ride-hailing fleet business as financing and operations infrastructure for the robotaxi industry, including future Waymo purchases.
BRIEF
Klaviyo Acquires Elias Torres' AI Startup Agency
FUNDING
Klaviyo Acquires Elias Torres' AI Startup Agency
Klaviyo agreed to acquire Agency, the three-year-old AI customer-success startup founded by Elias Torres, who backed Klaviyo's 2015 seed round as an angel and will now join as chief product officer.
BRIEF
Jeff Dean Launches Discovery Loop With Google Backing
FUNDING
Jeff Dean Launches Discovery Loop With Google Backing
Jeff Dean left Google after 27 years to co-found Discovery Loop, an AI research startup automating scientific discovery, with Google staying on as a founding investor and cloud partner.
FOLLOW-UP
ICEYE Raises 1B EUR, Tops 10B EUR Valuation
FUNDING1B EUR Series F
ICEYE Raises 1B EUR, Tops 10B EUR Valuation
Finnish satellite radar company ICEYE raised a 1B EUR Series F including a 450M EUR primary round at a valuation above 10B EUR, with the EU-backed Scaleup Europe Fund co-leading its first-ever investment.
BRIEF
Apollo Names AI Sector Head to Chase Megadeals
FUNDING
Apollo Names AI Sector Head to Chase Megadeals
Apollo Global Management named a dedicated AI sector head to coordinate financing teams and pursue repeat megadeals with chipmakers, building on its $35 billion Broadcom AI infrastructure financing struck in June.
BRIEF
MagicSchool Raises $63M After VCs Said No
FUNDING$63M total raised
MagicSchool Raises $63M After VCs Said No
MagicSchool AI, an AI teaching-assistant platform founded by a former school principal, has raised $63M total after early investors initially passed, and now serves educators in nearly every US school district.
The Educator Who Built a $63M AI Edtech Startup
FUNDING$63M total raised
The Educator Who Built a $63M AI Edtech Startup
MagicSchool AI, founded by a former school principal who says VCs initially refused to fund an educator, has now raised $63M and reaches an educator in nearly every US school district.
Robinhood Lets Retail Investors Back Y Combinator Startups
FUNDINGUp to $200M fund
Robinhood Lets Retail Investors Back Y Combinator Startups
Robinhood is listing a publicly tradable fund that invests in current and former Y Combinator startups, opening up to $200M of early-stage venture exposure to any retail investor for the first time.
WindBorne Raises $37M to Fly Its Own Weather Data
FUNDING$37M
WindBorne Raises $37M to Fly Its Own Weather Data
WindBorne Systems raised $37M for its balloon-based atmospheric sensor network, selling proprietary weather data to forecasters and insurers who say government satellite and balloon coverage has thinned in the wrong places.
St. Louis Lands $25B in AI Data Centers
FUNDING~$25B
St. Louis Lands $25B in AI Data Centers
St. Louis has attracted roughly $25B in announced data center investment, a sign the AI infrastructure buildout is spreading well beyond the traditional hubs of Northern Virginia and Texas.
Volta Emerges From Stealth With a $10B Anthropic Deal
FUNDING$300M Series A
Volta Emerges From Stealth With a $10B Anthropic Deal
AI cloud startup Volta launched out of stealth with a $300M seed and Series A at a $2.4B valuation plus a six-year, roughly $10B compute deal reportedly with Anthropic, tied to a 133MW Norway site built with Bitdeer.
Volta Exits Stealth With $10B Anthropic Compute Deal
FUNDING$10B compute deal
Volta Exits Stealth With $10B Anthropic Compute Deal
Seven-month-old startup Volta Infra emerged from stealth with a $10B, six-year compute deal to supply Anthropic from a Norway data center built with Bitdeer, plus a separate $5B financing program to fund more sites.
Robinhood Opens Y Combinator Startups to Retail
FUNDINGUp to $200M raise
Robinhood Opens Y Combinator Startups to Retail
Robinhood's second closed-end venture fund, set to list publicly on August 13 at $25/share, will let any retail investor buy exposure to Y Combinator startups for the first time.
Can WindBorne Make AI Weather Forecasting Lucrative?
FUNDING$37M Series B
Can WindBorne Make AI Weather Forecasting Lucrative?
WindBorne Systems, which raised $37M at a $250M valuation earlier this year, is now testing whether AI weather forecasts accurate enough to beat government agencies can also be a real business, not just a research feat.
Indian EV Startup River Raises $120M Series C
FUNDING$120M Series C
Indian EV Startup River Raises $120M Series C
River, an Indian electric two-wheeler startup, raised a $120M Series C after scaling production with a single motorcycle model, betting on India's fast-growing EV two-wheeler market.
Indian EV Maker River Raises $120M Series C
FUNDING$120M Series C
Indian EV Maker River Raises $120M Series C
Bengaluru-based electric two-wheeler maker River raised $120M led by Elev8 and Claypond Capital, taking total funding to $144M as it scales manufacturing and launches new models.
Volta's $10B AI Contract Hinges on a Norway Site
FUNDING
Volta's $10B AI Contract Hinges on a Norway Site
Days after its $2.4B valuation round, Volta Infra disclosed it will lease Norway-based capacity from Bitdeer to help deliver its reported $10B, six-year compute contract with a leading AI developer.
Obsidian Security Raises $85M, Crosses $1.1B Value
FUNDING$85M Series D
Obsidian Security Raises $85M, Crosses $1.1B Value
Obsidian Security raised an $85M Series D led by Crescent Cove Advisors at a $1.1B valuation, becoming a unicorn on demand for securing AI agents and non-human identities inside enterprises.
HappyRobot Hits $1.2B With $150M for Logistics Agents
FUNDING$150M Series C
HappyRobot Hits $1.2B With $150M for Logistics Agents
Prysm Capital and Eurazeo led a $150M Series C for HappyRobot at a $1.2B valuation, backing AI agents that handle the phone calls, emails and documents moving freight between brokers, carriers and shippers.
Bending Spoons Buys Airtable for $1.28B, an 88% Markdown
FUNDING$1.28B acquisition
Bending Spoons Buys Airtable for $1.28B, an 88% Markdown
Bending Spoons agreed to acquire Airtable for $1.28B in cash, its first deal since going public -- an 88% markdown from Airtable's $11B peak valuation during the 2021 boom.
July Set a Record: 14 Billion-Dollar Venture Rounds
FUNDING
July Set a Record: 14 Billion-Dollar Venture Rounds
Fourteen startups raised billion-dollar-plus rounds in July, the most in a single month ever, with $65B in total mega-round capital deployed -- up 100% year-over-year.
HappyRobot Hits Unicorn Status With $150M Series C
FUNDING$150M Series C
HappyRobot Hits Unicorn Status With $150M Series C
HappyRobot raised $150M at a $1.2B valuation just eight months after its Series B, with a16z and Eurazeo betting AI voice agents can expand from freight brokering into insurance, energy and airlines.
Base Power Raises $1B at $13B for Home Batteries
FUNDING$1B Series D
Base Power Raises $1B at $13B for Home Batteries
A consortium led by JPMorgan's Strategic Investment Group put $1B into Base Power at a $13B valuation, backing a company that leases home batteries and sells the aggregated capacity back to the grid.
Convex Raises $57M for an AI-Native App Backend
FUNDING$57M Series B
Convex Raises $57M for an AI-Native App Backend
Insight Partners led a $57M Series B for Convex, the reactive TypeScript backend now powering close to 2 million applications, with a16z and Spark Capital returning and OpenAI among its customers.
Ambrook Raises $30M to Bring Fintech to Farms
FUNDING$30M Series B
Ambrook Raises $30M to Bring Fintech to Farms
Ambrook raised a $30M Series B led by Lachy Groom to build accounting and financial-management tools built specifically for farmers, ranchers and rural businesses.
Antioch Raises $31M to Simulate Robots Before Building
FUNDING$31.4M
Antioch Raises $31M to Simulate Robots Before Building
Antioch raised $31.4M for a simulation platform that lets robotics teams build, test and deploy autonomous systems entirely in software before touching physical hardware.
Nvidia, Dell Back AI Cloud Startup Volta at $2.4B
FUNDING$300M @ $2.4B val
Nvidia, Dell Back AI Cloud Startup Volta at $2.4B
Volta Infra raised $300M at a $2.4B valuation from a16z, Altimeter, Nvidia and Michael Dell, plus a $10B, six-year cloud-capacity contract reportedly with Anthropic.
QuantHealth Raises $45M to Simulate Drug Trials
FUNDING$45M Series B
QuantHealth Raises $45M to Simulate Drug Trials
QuantHealth raised a $45M Series B led by Qumra Capital to expand AI simulation of clinical trials before patients enroll, a platform already used by 12 of the world's top 20 pharma companies.
MagicSchool Built an 8M-Educator AI Tool on $63M
FUNDING~$63M total raised
MagicSchool Built an 8M-Educator AI Tool on $63M
Founded by a former assistant principal who says VCs initially wouldn't fund an educator, MagicSchool has raised nearly $63M and now counts roughly 8 million educator sign-ups across 160 countries.
Ambrook Raises $30M to Take Farm Accounting Wider
FUNDING$30M Series B
Ambrook Raises $30M to Take Farm Accounting Wider
Lachy Groom led a $30M Series B for Ambrook, whose bookkeeping and bill-pay software grew from 2,500 to 8,000 businesses in a year and is now expanding from farms into trucking, contracting and real estate.
July Sets Record With 14 Billion-Dollar Rounds
FUNDING
July Sets Record With 14 Billion-Dollar Rounds
Fourteen startups raised billion-dollar-plus rounds in July, the highest monthly count on record, with $65B in combined capital led by a $10B round for Blue Origin.
Why VCs Are Writing Bigger Checks Into Fewer AI Deals
FUNDING
Why VCs Are Writing Bigger Checks Into Fewer AI Deals
US startup funding has already hit $415B through July across roughly 4,660 rounds -- a deal count that's not growing nearly as fast as the dollar total, meaning capital is concentrating into fewer, larger checks rather than spreading wider.
QuantHealth Raises $45M to Simulate Clinical Trials
FUNDING$45M Series B
QuantHealth Raises $45M to Simulate Clinical Trials
Qumra Capital led a $45M Series B for QuantHealth, which builds AI simulations of clinical trials so drug developers can test protocol designs before enrolling a single patient.
Enterprise AI's Quiet Money: Compliance, Payroll, Credit
FUNDING
Enterprise AI's Quiet Money: Compliance, Payroll, Credit
Beneath the mega-rounds, a steady stream of $10-30M seed and Series A checks is funding unglamorous back-office AI -- compliance, payroll, private-credit operations -- and that's where a lot of near-term enterprise revenue is actually landing first.
AI Cybersecurity's Arms Race Is Now a Funding Race
FUNDING
AI Cybersecurity's Arms Race Is Now a Funding Race
As attackers adopt AI-driven tooling, defenders are getting funded to match -- autonomous penetration-testing and AI-governance startups have both posted billion-dollar-plus valuations within the same month.
Defense Tech's Capital Keeps Compounding, Not Cooling
FUNDING
Defense Tech's Capital Keeps Compounding, Not Cooling
Defense tech has already pulled in more venture funding in 2026 than all of 2025 combined, and the checks keep landing even as public defense-tech comps wobble -- a split between private conviction and public market patience.
The Physical AI Funding Wave, By The Numbers
FUNDING
The Physical AI Funding Wave, By The Numbers
This week's largest venture checks all went to physical infrastructure -- nuclear power, chips, energy -- not software, and the dollar totals now dwarf what's going into application-layer AI startups.
Ore Energy Raises $43M for Iron-Air Batteries
FUNDING$43M Series A
Ore Energy Raises $43M for Iron-Air Batteries
Amsterdam's Ore Energy raised a $43M Series A from Plural and HV Capital to commercialize iron-air batteries that store renewable power for up to 100 hours at roughly a tenth of lithium-ion's cost.
Parallel Raises $100M to Build Search for AI Agents
FUNDING$100M Series B
Parallel Raises $100M to Build Search for AI Agents
Parallel raised a $100M Series B led by Sequoia, with Khosla Ventures and Kleiner Perkins participating, to build a search engine designed specifically for AI agents rather than human browsers.
Valar Atomics Triples to $6B for Factory Nuclear
FUNDING$1B Series B
Valar Atomics Triples to $6B for Factory Nuclear
Valar Atomics raised a $1B Series B led by Sequoia at a $6B valuation, tripling its mark since April, months after using a fission reaction to power an Nvidia chip for the first time.
Defense Startup Twenty Technologies Raises $100M at $1B
FUNDING$100M @ $1B val
Defense Startup Twenty Technologies Raises $100M at $1B
Arlington-based cybersecurity and defense startup Twenty Technologies raised a $100M Series B led by Accel at a $1B valuation, joining a growing cohort of defense-tech companies crossing unicorn status this year.
Zenity Raises $125M to Police Enterprise AI Agents
FUNDING$125M Series C
Zenity Raises $125M to Police Enterprise AI Agents
Norwest led a $125M Series C for Zenity, which monitors and governs the AI agents enterprises are wiring into sensitive systems, bringing the New York- and Tel Aviv-based company's total funding to about $185M.
Bending Spoons Buys Airtable for $1.28B in Cash
FUNDING$1.28B acquisition
Bending Spoons Buys Airtable for $1.28B in Cash
Bending Spoons agreed to buy Airtable for $1.285B in its first acquisition since going public, a steep comedown from Airtable's $11B peak valuation in 2021 and its more recent $4B secondary-market price.
Valar Atomics Raises $1B at $6B for Factory Nuclear
FUNDING$1B Series B
Valar Atomics Raises $1B at $6B for Factory Nuclear
Sequoia led a $1B Series B for Valar Atomics at a $6B post-money valuation, tripling the mark it carried in April, weeks after the startup used a fission reaction to power an Nvidia AI chip.
Base Power Raises $1B, Launches Home Battery
FUNDING$1B Series D
Base Power Raises $1B, Launches Home Battery
Base Power raised $1B at a $13B valuation and launched Base Core, a 39.2 kWh home battery built in Austin -- a bet that AI-driven grid strain shows up first at the household level.
Baselayer Raises $20M to Automate Fraud Checks
FUNDING$20M Series A
Baselayer Raises $20M to Automate Fraud Checks
Baselayer raised a $20M Series A to automate fraud and risk checks for the 1,900+ banks and government agencies it already serves, betting the long-tail-institution market beats chasing megabanks.
P-1 AI Raises $50M to Automate Engineering Design
FUNDING$50M Series A
P-1 AI Raises $50M to Automate Engineering Design
P-1 AI raised a $50M Series A led by NEA for Archie, an AI agent that performs mechanical and electrical design work -- one of the few funding stories this week aimed at industrial engineering rather than software.