Startups Weekly: Growth Continues Unstoppable
▼ Summary
– Neobank Chime went public in a highly anticipated IPO, despite nearly failing in 2016 due to a critical last-minute investment.
– Nucleus Genomics faced backlash for its new product, Nucleus Embryo, which allows embryo selection based on controversial genetic factors.
– Automattic acquired Clay, a relationship management app startup, for over $9 million, with plans to continue supporting the product.
– Multiverse Computing raised €189 million in Series B funding to develop smaller, cost-effective AI models for various devices.
– The U.S. Navy is actively seeking startup partnerships, offering insights and advice for companies interested in collaboration.
The startup ecosystem continues its relentless expansion, with groundbreaking innovations and funding milestones reshaping industries weekly. While major tech events like WWDC dominate headlines, June has proven to be anything but quiet for emerging companies making waves. From high-profile IPOs to controversial product launches, the past seven days delivered no shortage of compelling developments.
Neobank Chime’s long-awaited IPO marked one of the year’s most anticipated public debuts, capping a remarkable turnaround for a company that nearly collapsed in 2016. Meanwhile, Nucleus Genomics sparked debate with its embryo-selection technology, raising ethical questions about genetic screening. In acquisition news, Automattic expanded its portfolio by snapping up Clay, a relationship management app that had previously secured over $9 million in venture backing.
For founders hunting the next unicorn idea, Superblocks CEO Brad Menezes offered unconventional advice: Study the system prompts powering today’s AI giants. His insight underscores how seemingly minor details can unlock billion-dollar opportunities.
Venture capital activity remained feverish, with several eye-popping funding rounds. Multiverse Computing’s €189 million Series B stood out, as the Spanish startup aims to shrink large language models for broader accessibility. Enterprise AI firm Glean’s valuation jumped to $7.2 billion after a $150 million Series F, while geothermal innovator Fervo Energy secured $206 million to advance clean energy projects.
Other notable deals included Proxima Fusion’s €130 million Series A for nuclear fusion research and Coco Robotics’ $80 million raise to scale autonomous delivery solutions. Fintech also saw momentum, with Tebi landing €30 million for its hospitality-focused platform and Definely attracting $30 million to streamline legal contract reviews.
Collab Capital’s $75 million Fund II signaled growing interest in diverse founders, targeting healthcare and infrastructure startups. The week closed with an unexpected twist: The U.S. Navy actively courting startup partnerships, as revealed during a StrictlyVC discussion about its innovation adoption framework.
Whether through breakthroughs, controversies, or record-breaking investments, this week reinforced that the startup world thrives on unpredictability. Each development serves as a reminder that today’s fledgling idea could become tomorrow’s industry standard.
(Source: TechCrunch)
