☕ Bytedance launches an open-source AI automation agent & Elizabeth Holmes’ partner raising $50M for new blood-testing startup.
Benchmark’s $75M investment in China-linked AI startup under U.S. review & Google inks deal to develop 1.8 GW of advanced nuclear power.
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Today’s Picks: Fix your problem slide, financial model, user motivation, fire-yourself test, 6000+ Euro VCs, AI wrappers, legal docs, AI as VC, AI agent success, valuation guide, runway tips, 350+ Indian VCs, VC interview, Bedrock’s strategy, data room guide.
Rippling has raised a $450M Series G at a $16.8B valuation.
Benchmark’s $75M investment in China-linked AI startup Manus under U.S. review.
Elizabeth Holmes’ partner reportedly raising $50M for new blood-testing startup.
Apple developing low-power chips for smart glasses, AI servers, and Macs.
Microsoft and OpenAI reportedly renegotiating their multibillion-dollar partnership.
Bytedance launches an open-source AI automation agent.
Google inks deal to develop 1.8 GW of advanced nuclear power.
Anthropic warns DOJ Google proposal threatens AI investment and competition.
VC & Startup Jobs: VC & investors backed startup hiring for remote roles.
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The only startup valuation guide you need as a founder.
350+ Indian Angel Investors & Venture Capital Firms Contact Database (Email + LinkedIn Link).
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Bedrock’s investment strategy: Search For Narrative Violations.
Investor data room guide & templates for founders.
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STARTUPS RAISING MILLIONS
💰 Startup funding updates
Rippling has raised a $450M Series G at a $16.8B valuation, alongside a $200M tender offer for employee liquidity. The round saw participation from Sands Capital, GIC, Goldman Sachs Growth, Baillie Gifford, Elad Gil, YC, and others.
Quantum Systems, a Gilching, Germany-based provider of aerial intelligence systems for defense, emergency services, and industry, raised €160m in funding. The round, which brought total funding to €310m, was led by Balderton Capital, with participation from Hensoldt, Airbus Defense and Space, Bullhound Capital, LP&E AG, HV Capital, Project A, Peter Thiel, DTCP, Omnes Capital, Airbus Ventures, Porsche SE and Notion.
Arda Biomaterials, a London, UK-based developer of biomaterial technology leveraging plant proteins, raised $5.25M in funding. The round was led by Oyster Bay Venture Capital with participation from Clean Growth Fund, Kadmos Capital and Green Angel Ventures.
Miden, a NYC based blockchain infrastructure startup, raised $25m in seed funding. The round was led by a16z Crypto, 1kx, and Hack VC, with participation from Finality Capital Partners, Symbolic Capital, P2 Ventures, Delta Fund, MH Ventures, and angels including Rune Christensen (MakerDAO) and Sreeram Kannan (EigenLayer).
Foundation Alloy, a Boston, MA-based new metal manufacturing startup, raised $7.5M in funding. Backers included Alumni Ventures, America’s Frontier Fund, Engine Ventures, El Cap, Material Impact, and Yamaha Motor Ventures.
Alice, a Copenhagen, Denmark-based edtech startup, raised €4.2m in funding. The round was led by Cherry Ventures and Y Combinator with participation from PSV Tech and angels from the US and Europe.
Breathe Battery Technologies, a London, UK based developer of AI-powered tools to predict battery performance for electric vehicles and other devices, raised $21m in Series B funding. The round was led by Kinnevik, with participation from Lowercarbon Capital and Volvo Cars Tech Fund.
Toloka, an Amsterdam, The Netherlands-based provider of a platform for businesses to develop safe AI products, raised $72m in funding. The round was led by Bezos Expeditions, the investment arm of Jeff Bezos, with participation from Mikhail Parakhin — CTO of Shopify and board advisor to GenAI leaders like Perplexity, Liquid.ai, and Recraft.
NEW VCs IN THE MARKET
🏦 Venture Capital updates
Benchmark’s $75M investment in China-linked AI startup Manus under U.S. review:
The U.S. Treasury Department is reviewing Benchmark’s $75M investment in AI agent startup Manus over possible violations of 2023 rules on investing in Chinese firms.
Benchmark’s legal team argued the deal complies, since Manus doesn’t develop its own AI models and is incorporated in the Cayman Islands, not China.
The investment has sparked backlash, including criticism from Founders Fund’s Delian Asparouhov, who questioned the decision publicly on X.
Elon Musk-linked VC sues Brookfield Asset Management after firing:
Josh Raffaelli, a longtime VC with ties to Musk-backed ventures, is suing his former employer Brookfield Asset Management, alleging he was fired after filing an SEC whistleblower complaint over pandemic-era real estate losses.
The lawsuit accuses Brookfield of fraud and bribery and claims the firm failed to invest in Musk-led companies like SpaceX, xAI, and The Boring Company despite Raffaelli securing access.
Brookfield previously shuttered Raffaelli’s venture unit and denies all wrongdoing; Raffaelli had also helped fund Musk’s Twitter takeover and previously worked at Draper Fisher Jurvetson.
KEY STORIES IN TECH
📜 Latest in tech
Elizabeth Holmes’ partner reportedly fundraising for new blood-testing startup:
Billy Evans, partner of Theranos founder Elizabeth Holmes, is reportedly raising over $50M for Haemanthus, a new blood-testing startup focused on “human health optimization.”
Marketing materials claim Haemanthus uses lasers to analyze blood, saliva, and urine to detect conditions like cancer, beginning with pet health and later expanding to humans.
The pitch has drawn skepticism due to parallels with Theranos; investor Jim Breyer declined to back Haemanthus, citing similar concerns that led him to pass on Theranos twice.
Apple developing low-power chips for smart glasses, AI servers, and Macs:
Apple is working on new chips for smart glasses, AI servers, and future Macs, including a low-power processor inspired by the Apple Watch, Bloomberg reports.
The smart glasses, a response to Meta’s Ray-Ban Meta devices, will use cameras and AI to analyze surroundings without full AR capabilities.
Apple aims to start mass-producing the new chips with TSMC by late 2025 or 2027, as it intensifies competition with Meta in the wearables space.
Microsoft and OpenAI reportedly renegotiating their multibillion-dollar partnership:
OpenAI and Microsoft are in “tough negotiations” over how much equity Microsoft will hold after OpenAI’s restructuring into a for-profit public benefit corporation.
Microsoft, which has invested $13 billion, is reportedly willing to trade equity for extended access to OpenAI tech developed beyond the current 2030 agreement.
Talks are complicated by growing tensions, as OpenAI expands its enterprise business and pursues large-scale infrastructure projects like Stargate.
Bytedance launches an open-source AI automation agent:
Bytedance has introduced Agent TARS, an open-source AI tool designed for automating complex tasks by visually interpreting web content and interacting with system elements.
This new system from the TikTok parent company employs an agent-based framework to autonomously plan and execute processes like web searching, browsing, and link navigation.
Currently in an experimental phase and available for macOS, Agent TARS offers a live view of its operations, allowing users to guide its workflow in real-time.
Google inks deal to develop 1.8 GW of advanced nuclear power:
Google is collaborating with nuclear developer Elementl Power to establish three new sites for advanced atomic reactors, aiming for substantial energy generation from each facility.
This technology corporation needs more electricity due to its growing AI initiatives and power-hungry data centers, allocating $75 billion for data facility expansion this year.
Each of the three forthcoming nuclear installations will provide a minimum of 600 megawatts of generating capacity, allowing Google the option to buy this energy directly.
Google will pay $1.4 billion to settle data privacy violation lawsuits:
Google has agreed to a $1.4 billion payment to Texas, concluding legal actions over accusations of mishandling user data, such as location and biometric details.
This landmark accord represents a major victory for the state's attorney general in addressing Big Tech's data practices and is among Google's largest single-state privacy resolutions.
As part of the deal, the technology giant will revise its privacy disclosure terms, though it maintains its practices have already been updated and admits no fault.
LAST COFFEE SIP
☕Other news
Anthropic warns DOJ Google proposal threatens AI investment and competition:
AI startup Anthropic stated that Department of Justice proposals intended to boost online search competition could negatively impact future artificial intelligence funding and technological innovation.
The company believes compelling Google to pre-notify the DOJ about its AI ventures would create a strong disincentive for Alphabet's unit to back smaller AI enterprises.
Anthropic contends that without such Google collaborations, the artificial intelligence sector might become dominated by a few massive tech corporations, thereby reducing choices for application developers.
HIRING ALERT: STARTUPS & VC ROLES
💼 Today’s VC & startup job opportunities
Fundraising Manager - Entrepreneur First | USA - Apply Here
Chief of Staff - First Round Capital | USA - Apply Here
Partner 32 - a16z | USA - Apply Here
Ecosystem Growth Associate - Motion Venture | Singapore - Apply Here
Investment Manager - Antisoma Venture Capital | UK - Apply Here
Analyst - Team8 | USA - Apply Here
Investor - Griffin Gaming Partner | USA - Apply Here
Associate - Rev1 Venture | USA - Apply Here
Investor (AI) - Samsung Next | USA - Apply Here
Investment team - Next Bharat Venture | India - Apply Here
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