☕ OpenAI fights Meta with $4.4 billion stock pay, SpaceX eyes $400B valuation & Mistral in talks to raise $1B.
ByteDance may launch U.S.-only version of CapCut & More.
High heels were invented for men.
Back in the 10th century, heels helped Persian soldiers stay in their stirrups.
Fashion? Function? Either way, the boys wore ‘em first.
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📬 What’s in store:
Today’s Picks: Startup launch guide, forecast model template, Lovable's viral loop, investor Q&A kit, why VCs chase hype, valuation guide, 40 pitch decks, term sheet guide, 3 sales frameworks, data room kit, $200K/month AI notes app.
Mistral in talks to raise $1B in equity and debt.
ByteDance may launch U.S.-only version of CapCut.
OpenAI fights Meta with $4.4 billion stock pay.
Threads is nearing X’s daily app users.
OpenAI activates military-grade security to protect its AI models.
Apple COO Jeff Williams to retire, Sabih Khan named successor.
SpaceX eyes $400B valuation in upcoming funding round.
Apple tones down Liquid Glass after user complaints.
VC & Startup Jobs: VC & investors backed startup hiring for remote roles.
⏱️ Read Time: 3 minutes
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DAILY PICKS
🗞️ What else is brewing
The ultimate guide to starting a startup.
The forecast model every startup needs (with template).
Inside Lovable’s viral loop and where it might break.
What investors ask and how to answer : A practical Q&A prep kit for founders.
Why do VCs pass on profitable startups and chase hype instead?
The only startup valuation guide you need as a founder.
40 real startup pitch decks that raised $350M+ (Including leading startups decks).
All-in-one term sheet guide for founders.
The 3 sales framework that every founder should know.
Investor data room guide & templates for founders.
This AI note-taking app built for students makes $200,000/month.
STARTUPS RAISING MILLIONS
💰 Startup funding updates
Huspy, a Dubai, UAE-based proptech company, closed a $59m Series B funding. The round was led by returning investor Balderton Capital, with participation from Peak XV (formerly Sequoia Capital India and Southeast Asia), as well as ExBorder Partners, Turmeric Capital, BY Ventures, Dara Management, COTU Ventures and KE Partners.
Parspec, a San Mateo, CA-based AI-native software platform that enables wholesale distributors and sales agents to bid and supply construction products, raised $20m in Series A funding. The round was led by Threshold Ventures (formerly DFJ), with participation from existing venture investors including Innovation Endeavors, Building Ventures, Heartland Ventures, and Hometeam Ventures.
Sundial, a San Francisco, CA-based AI-powered analytics platform improving how companies make decisions, raised a total of $23m. This included a recent $16m Series A funding round led by GPV partner DJ Patil. Backers included Sequoia Capital, Sunflower Capital, Slow Ventures, Unusual Ventures, Tribe Capital, Electric Capital, as well as Fidji Simo, Tobi Lütke, Drew Houston, Amjad Masad, Shishir Mehrotra, Deb Liu, Howie Liu, Anil Varanasi, Ruchi Sanghvi, Brian Hale, and Jay Parikh.
Plexāā, a London, UK-based MedTech startup advancing a medical device for breast surgery, closed a $4.5m funding extension round. This extension round comprised existing and new investors including TCP Health Ventures (the dedicated healthcare investment arm of The Capital Partnership group of companies), which had led the Seed round.
Honor Education, a San Francisco, CA-based learning platform and solutions provider enabling individuals and organizations to build skills, mindsets, and cultures, raised $38m in Series A funding. Backers included Alpha Edison, Wasserstein & Co, Audeo Ventures, Interlock Partners, New Wave Capital, and other investors.
Brainfish, an Australian AI platform enabling users to interact with digital products, raised $6.4m USD in a pre-Series A funding round. The round, which brought total funding to $10m, was led by Prosus Ventures with participation from existing investors Peak XV’s Surge and Macdoch Ventures.
Castellum.AI, a NYC-based financial crime compliance platform provider, closed an $8.5m Series A funding round. The round was led by Curql, with participation from BTech Consortium, and Framework Venture Partners, as well as existing investors from Spider Capital, Remarkable Ventures and Cameron Ventures.
Parter, a Tel Aviv, Israel- and NYC-based AI-powered company helping hardware teams – from engineering and supply chain to R&D – manage complexity, raised $5.5m in seed funding. The round was led by StageOne Ventures, with participation from Zenda Capital, Mercer Ventures, and angel investors including former Sequoia partner Shmil Levy, executives from Cisco, Ariel Maislos, and founders of Avalor, Datorama, Epsagon, and Innoviz.
APFusion, a Champaign, IL-based technology platform powering the transformation of the automotive salvage market, closed a $6m Series A funding round. The round was led by I2BF Global Ventures, with participation from SNAK Venture Partners, Somersault Ventures, Left Lane Capital (doubling down on its seed investment), Verb Ventures, and a select group of strategic angel investors.
Tulum Energy, a Milan, Italy-based methane pyrolysis startup, closed a $27m venture financing round. The round was led by CDP Venture Capital (through its Green Transition Fund) and TDK Ventures and a global consortium of investors including Tulum’s founder TechEnergy Ventures, MITO Technology, through the MITO Tech Ventures fund, and Doral Energy Tech Ventures.
Galaxy Education (GE), a Ho Chi Minh City, Vietnam-based education technology company, secured nearly USD 10m in funding. Backers included East Ventures and other investors.
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NEW VCs IN THE MARKET
🏦 Venture Capital updates
OnePrime Capital, a Palo Alto, CA-based technology secondary firm, closed OnePrime Secondary Fund III, L.P., at $305m. Fund III received support from OnePrime’s existing investor base and new institutional investors.
Heavybit, a San Francisco, CA-based enterprise infrastructure investor, closed its fifth flagship pre-seed and seed fund alongside its second opportunity fund, at over $180m combined between the two vehicles. Led by Tom Drummond, founder and managing director, and Joseph Ruscio, general partner, Heavybit seeks to invest in teams building AI-native solutions across infrastructure, security, and enterprise software.
KEY STORIES IN TECH
📜 Latest in tech
Mistral in talks to raise $1B in equity and debt:
French AI startup Mistral is reportedly raising up to $1 billion in equity from investors including Abu Dhabi’s MGX fund, and is also seeking debt financing from French banks.
Mistral has raised $1.19B so far, with a post-money valuation of $6.51B, and is known for its open-weight LLMs and the Le Chat chatbot.
The company is partnering with MGX and Nvidia to build Europe’s largest AI data center, backed by France and the UAE’s €50B AI investment plans.
ByteDance may launch U.S.-only version of CapCut:
ByteDance is reportedly developing a U.S.-specific version of its popular video editing app CapCut, following pressure from a 2024 law mandating divestment from TikTok and other U.S. assets.
The move mirrors similar efforts for TikTok, as the company prepares a U.S.-compliant version ahead of a potential sale.
CapCut, with over 1 billion downloads on Google Play and a top ranking on the iOS U.S. App Store, remains a major player in video editing apps.
OpenAI fights Meta with $4.4 billion stock pay:
OpenAI is defending against Meta by increasing its stock-based compensation to $4.4 billion, a figure that represents 119 percent of its revenue from last year.
Meta poached eight researchers with reported nine-figure offers after its own Llama 4 “Behemoth” model failed performance benchmarks, prompting a period of internal panic.
The rival formalized its raid by creating Meta Superintelligence Labs, forcing OpenAI leadership to promise in a leaked memo they were “recalibrating comp” to retain talent.
Threads is nearing X’s daily app users:
Threads' worldwide daily active users on mobile apps reached 115.1 million, getting closer to X's declining figure of 132 million daily actives.
However, X maintains a clear advantage on the web, with 145.8 million average daily web visits worldwide compared to just 6.9 million for Threads.
In the U.S. market specifically, X still leads on mobile with 22.9 million daily active users, ahead of the 15.3 million reported for Threads.
OpenAI activates military-grade security to protect its AI models:
OpenAI implemented a "deny-by-default" internet policy and uses information "tenting" to restrict employee access and stop leaks of its foundational model technologies.
The company installed biometric fingerprint scans and hired a former Palantir CISO and a retired U.S. Army General to oversee its cyber and data defense.
These security upgrades follow allegations that Chinese rival DeepSeek used a technique known as “distillation” to copy OpenAI’s models and build its own system.
Apple COO Jeff Williams to retire, Sabih Khan named successor:
Apple COO Jeff Williams will step down later this month to retire, with Sabih Khan appointed as the new COO.
Williams, a nearly 30-year Apple veteran, played key roles in the launch of the iPod, iPhone, and Apple Watch.
Until his retirement, Williams will continue reporting to CEO Tim Cook; afterward, Apple’s design team will report directly to Cook.
SpaceX eyes $400B valuation in upcoming funding round:
SpaceX is reportedly planning to raise fresh capital through a new funding round, pushing its valuation to around $400 billion.
The company will also hold a tender offer for employees to sell shares to select investors, a practice it typically repeats twice a year.
This marks a significant leap from its $350 billion valuation in December 2024 and reflects rapid growth since surpassing $100 billion in 2021.
LAST COFFEE SIP
☕Other news
Apple tones down Liquid Glass after user complaints:
Apple's third developer beta for iOS 26 tones down the Liquid Glass effect, making the translucent, glass-like elements in navigation bars less pronounced.
Liquid Glass is a dynamic material that adds depth to the interface by reflecting its surroundings on app icons, widgets, controls, and other components.
Following this change, some testers expressed disappointment on social media, feeling the reduced visual flair takes away the futuristic feel of previous beta releases.
HIRING ALERT: STARTUPS & VC ROLES
💼 Today’s VC & startup job opportunities
Partner 36 - a16z | USA - Apply Here
VC Growth Partner - Exit fund | India - Apply Here
Corporate Development & Strategy - Figma Venture | USA - Apply Here
Portfolio Analyst - GCO Venture | Spain - Apply Here
Associate - OMERSE Venture | USA - Apply Here
Principal - Al Fund | USA - Apply Here
Associate - Energy Impact Partner | USA - Apply Here
Chief of Staff to Founding Partner - One Way Venture | USA - Apply Here
All-In-One VC Interview Preparation Guide: With a leading investors group, we have created an all-in-one VC interview preparation guide for aspiring VCs. Don’t miss this. (Access Here)
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