☕ xAI is reportedly burning $1 billion per month & Midjourney launches its first AI video generation model, V1.
Google’s AI Mode now supports back-and-forth voice conversations & Six-month-old AI startup Base44 sold to Wix for $80M cash.
Sloths can hold their breath longer than dolphins. 40 minutes vs. 10.
They may move like dial-up, but when it comes to lung flex, they’re elite.
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📬 What’s in store:
Today’s Picks: AI 100, Altman on ideas, market sizing, pitch & model templates, YC MVP guide, OpenAI bets, AI subs playbook, top deals, timing guide, network effects, 2700+ VC contacts.
xAI is reportedly burning $1 billion per month.
Midjourney launches its first AI video generation model, V1.
Six-month-old AI startup Base44 sold to Wix for $80M cash.
OpenAI ends partnership with Scale AI after Meta’s investment deal.
xAI sued for running 400+ MW gas turbines without permits at Memphis data center.
The OpenAI Files aim to bring transparency and accountability to the AGI race.
Apple eyes using AI to design its chips, technology executive says.
Google’s AI Mode now supports back-and-forth voice conversations.
VC & Startup Jobs: VC & investors backed startup hiring for remote roles.
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AI 100: The most promising artificial intelligence startups of 2025.
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STARTUPS RAISING MILLIONS
💰 Startup funding updates
Grifin, a Tampa, FL-based app that links investment to daily spending, raised $11M in Series A funding. The round was led by Nava Ventures, with participation from TTV, Draper Associates, Gaingels, Nevcaut Ventures, Alloy Labs, etc.
Payabli, a Miami, FL-based payments infrastructure platform for software companies, closed a $28M Series B funding round. The round was led by Fika Ventures and QED Investors with participation from existing investors TTV Capital and Bling Capital.
Tennr, a NYC-based provider of an orchestration platform and language models designed to automate the workflows of referral-based care, raised $101m in Series C funding. The round was led by IVP, with participation from new and existing investors including Andreessen Horowitz, Lightspeed, GV, ICONIQ, Foundation Capital, and Frank Slootman.
Tensec, a Palo Alto, CA-based cross-border financial services company, raised $12m in seed funding. The round was led by Costanoa Ventures, with participation from Quiet Capital, WillowTree Investments, Cambrian VC, Ignia Partners, Montage Ventures, Renegade Partners, and Endeavor Scale Up Ventures.
DESKi, a Bordeaux, France-based healthtech company developing AI-powered diagnostic tools, closed a $6m seed funding round. The round was led by Racine², an impact-focused fund managed by Serena and Makesense, with participation from BNP Paribas Développement, Épopée Gestion, Good Only Ventures, Better Angle, and NACO, the Nouvelle-Aquitaine regional fund advised by M Capital.
Materna Medical, Inc., a Mountain View, CA-based provider of women’s pelvic health solutions, raised a $20m Series B2 financing round. The round was led by InnovaHealth Partners and other key existing investors Wavemaker Three-Sixty Health, Kimera Limited, Women’s Venture Capital Fund, and Golden Seeds. New backers included GLIN Impact Capital, Wealthing VC Club, and Citrine Angels.
Swarmia, a Helsinki, Finland-based SaaS company building a software engineering intelligence platform, raised €10m in funding. The round was led by DIG Ventures and Karma Ventures, with participation from angel investors including Open AI’s Head of Developer Experience Romain Huët and Cal Henderson, Co-founder and former CTO of Slack.
NaroIQ, a Cologne, Germany-based FinTech startup, raised more than $6.5m (€5.85m) in seed financing round. The round was led by Magnetic, followed by Redstone, with existing venture investors including General Catalyst, which increased their stakes.
Polar, a Stockholm, Sweden-based payments infrastructure company for AI-native SaaS companies, raised $10M in seed funding. The round was led by Accel, woth participation from angel investors Guillermo Rauch and Jared Palmer (Vercel), Paul Copplestone (Supabase), Tobi Lütke and Harley Finkelstein (Shopify), Michael Grinich (WorkOS), Thomas Paul Mann (Raycast), Anton Osika (Lovable), Jorn van Dijk and Koen Bok (Framer), Zeno Rocha (Resend), Steven Tey (Dub), and Sébastien and Alexandre Chopin (Nuxt).
Embedl, a Gothenburg, Sweden-based deeptech company, raised €5.5M in pre-series A funding. Backers included Chalmers Ventures, Fairpoint Capital, SEB Greentech, Spintop Ventures, and STOAF.
Athena, a San Francisco, CA–based generative engine optimization (GEO) platform provider, raised $2.2m in seed funding. The round was from Y Combinator, FCVC, Red Bike Capital, Amino Capital, and SEO and search executives including Eli Schwartz and Ashley Stirrup.
Unibeam, a Tel Aviv, Israel-based developer of SIM-based authentication solutions, raised $6m in seed funding. The round was led by NFX with participation from AnD Ventures.
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NEW VCs IN THE MARKET
🏦 Venture Capital updates
Owl Ventures, a San Francisco-based VC firm focused on edtech, has appointed Lars Fjeldsoe-Nielsen as General Partner to lead its expansion across Europe, Africa, the Middle East, and emerging markets. Fjeldsoe-Nielsen, previously at Uber, Dropbox, Balderton Capital, and co-founder of 2xN, brings experience scaling global tech companies and backing AI and quantum startups.
KEY STORIES IN TECH
📜 Latest in tech
xAI is reportedly burning $1 billion per month:
Elon Musk's xAI reportedly spends $1 billion monthly on AI model development, a figure Musk disputes, as the company simultaneously seeks $9.3 billion in new funding.
Looking ahead, xAI projects burning about $13 billion during 2025, with most of its previously raised $14 billion equity already spent or allocated very soon.
The company's prolific fundraising barely keeps pace with expenses for server farms and specialized computer chips, though xAI projects profitability for itself by 2027.
Midjourney launches its first AI video generation model, V1:
Midjourney launched V1, an image-to-video model that generates 5-second animated clips from still images, available exclusively through Discord.
V1 enters a competitive space alongside OpenAI’s Sora and Google’s Veo 3, but focuses on artistic creativity over commercial use cases.
Pricing starts at $10/month, with videos costing 8x more than images; Pro and Mega subscribers get unlimited generations in “Relax” mode.
Six-month-old AI startup Base44 sold to Wix for $80M cash:
Israeli founder Maor Shlomo sold Base44, his bootstrapped AI coding startup, to Wix for $80 million in cash just six months after launch.
Base44 reached 250,000 users and $189K in monthly profit, offering no-code app generation through text prompts and LLM-powered features.
The acquisition strengthens Wix’s position in the no-code market, adding a fast-growing, AI-native platform built for developers and non-tech users alike.
OpenAI ends partnership with Scale AI after Meta’s investment deal:
OpenAI is cutting ties with Scale AI following Meta’s multibillion-dollar investment in the data labeling startup and its hiring of Scale CEO Alexandr Wang.
OpenAI said it had already been seeking more specialized data sources, while other AI firms reportedly looked for “neutral” providers amid conflict concerns.
As major clients like OpenAI and Google shift away, Scale AI plans to focus more on building AI applications for governments and enterprises.
xAI sued for running 400+ MW gas turbines without permits at Memphis data center:
xAI is facing a lawsuit from the Southern Environmental Law Center and NAACP for allegedly operating over 35 gas turbines without required air permits at its Memphis Colossus data center.
The turbines, capable of emitting 2,000+ tons of NOx annually, were reportedly installed without federal or local approval, contributing to Memphis’s already poor air quality.
Despite claims of turbine removal, aerial photos show 26 units still operating, prompting Clean Air Act violation proceedings with a lawsuit expected in 60 days.
The OpenAI Files aim to bring transparency and accountability to the AGI race:
The OpenAI Files, launched by watchdog groups, document governance, safety, and leadership concerns at OpenAI, urging greater oversight in the AGI race.
The project criticizes OpenAI’s structural shift from a capped-profit nonprofit to investor-driven operations, including safety shortcuts and potential conflicts of interest.
It calls for ethical leadership and transparency as OpenAI wields increasing power, raising concerns over Sam Altman's role and past internal turmoil.
Apple eyes using AI to design its chips, technology executive says:
Apple’s hardware chief Johny Srouji revealed that the company is interested in using generative AI to boost productivity in chip development.
He highlighted the importance of advanced EDA tools from companies like Cadence and Synopsys, which are integrating AI into their design platforms.
Reflecting on Apple’s chip strategy, Srouji emphasized bold decisions like the all-in shift to Apple Silicon with no fallback, marking Apple’s high-stakes innovation approach.
LAST COFFEE SIP
☕Other news
Google’s AI Mode now supports back-and-forth voice conversations:
Google has added live voice conversations to AI Mode, letting users engage in back-and-forth queries through spoken input in the Google app.
Users can ask complex questions, hear AI-generated responses, follow up, and explore web links—all while multitasking or using other apps.
The feature runs on a custom Gemini model and will soon expand to support real-time camera-based queries, enhancing hands-free AI interaction.
HIRING ALERT: STARTUPS & VC ROLES
💼 Today’s VC & startup job opportunities
Venture Investments Analyst - GSR | USA - Apply Here
Program Manager - Generator | USA - Apply Here
Analysts - Healthquad | India - Apply Here
Technical Investing Associate - Capital One Venture | USA - Apply Here
Associate - Episode 1 Venture | UK - Apply Here
Venture Capital General Partner - ELM Street Partner | USA - Apply Here
Senior Associate - Hubspot Venture | USA - Apply Here
Corporate Development & Strategy - Figma Venture | USA - Apply Here
Partner 36 - a16z | USA - Apply Here
Investment Trainee - Hashkey Capital | 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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