🔘 Proxima Fusion on road to Build the First Stellarator Power Plant

Munich-based Proxima Fusion has closed a €130M Series A to develop the world’s first commercial stellarator-based fusion power plant, offering a radically stable path to net-energy fusion in the 2030s.

🔩 Fusion That Runs Steady, Not Scary
• Uses stellarators, which confine plasma with external magnets — unlike Tokamaks, no internal currents = better stability.
• Combines quasi-isodynamic designs with AI and high-temperature superconductors (HTS) for compact, scalable machines.
• Based on research from the Max Planck Institute’s Wendelstein 7-X, the world’s most advanced stellarator.

📈 From Coil to Commercial Power
• 2027: Targeting “Model Coil” milestone — a full-scale magnet testbed.
• 2031: Net-energy prototype named Alpha to be operational.
• 2030s: Launch of Stellaris, the first grid-ready fusion power plant.

💳 Europe’s Biggest Fusion Bet
• €130M Series A led by Redalpine, UVC Partners, Atlantic Labs, and Earlybird.
• Europe’s largest private fusion round to date; brings total raised to €185M+.
• German government support signals rising momentum behind deeptech energy bets.

⚠️ Still a Long Road to the Grid
• Technical hurdles: precision magnet manufacturing, tritium breeding, and power conversion.
• Fusion remains a long game — capital-intensive with multi-decade ROI timelines.
• But stellarators may offer a more commercially viable and steady-state alternative.

Proxima isn’t chasing the next fusion breakthrough — it’s engineering the one we already have into reality.

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🛌 Mosanna Therapeutics Launches Series A for Night‑Time Nasal Spray Treating Sleep Apnea

Mosanna Therapeutics has launched with an $80M Series A to advance MOS118, a once-nightly nasal spray targeting the root causes of obstructive sleep apnea (OSA). The round was led by EQT Life Sciences and Pivotal bioVenture Partners.

🤧 A Pharma Alternative to CPAP
• MOS118 restores natural airway muscle control — treating OSA at the source.
• Unlike CPAP, it’s non-mechanical and designed for higher patient comfort and adherence.
• Funds will support Phase 2 trials following a successful Phase 1.

📊 Backed by Leading Life Sciences Investors
• EQT and Pivotal co-led; joined by Forbion, Norwest, Broadview, and others.
• Addresses a massive market: nearly 1B people suffer from OSA, with low CPAP compliance.
• New board members from EQT, Forbion, and Norwest signal investor conviction.

👤 New CEO, Global Footprint
• Veteran biotech exec David Weber appointed CEO.
• Founded in 2022, with teams in Redwood City and Basel.
• Aiming to become the first drug-based standard of care for OSA.

Mosanna is betting that the future of sleep apnea treatment isn’t a mask — it’s a molecule.

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🚁 Archer to Bring Flying Taxis to U.S. Skies

Archer Aviation has secured $850 million to scale its electric air taxi platform, just days after Trump signed executive orders supporting eVTOL deployment. With nearly $2B in liquidity, Archer is now the most capitalized U.S. air mobility startup aiming to launch by the 2028 Olympics.

⚙️ Short-Hop Aircraft for Urban Commutes
• “Midnight” is a four-seat, piloted eVTOL built for 20–50 mile city trips.
• ~100-mile range, 150 mph top speed, optimized for fast turnaround and frequent use.
• Backed by tech partners Palantir (AI flight ops) and Anduril (defense autonomy).

📈 Big Capital Meets Big Policy
• The raise follows Trump’s eVTOL Integration Pilot Program order.
• Funds will go to FAA certification, infrastructure, and scaling production.
• Archer targets 2026 certification and operations in time for LA 2028.

🛫 Launch Strategy with Major Partners
• Working with United Airlines on air taxi routes in NYC and Chicago.
• Official air mobility partner for the 2028 Olympic Games.
• Backed by Stellantis, ARK, Palantir, and BlackRock for both capital and manufacturing.

With $2B in the bank and federal momentum, Archer leads the U.S. eVTOL race — but certification and urban adoption remain the final hurdles.

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⚡️ Fervo Energy Builds Massive Geothermal Plant to Power 375,000 Homes

Fervo Energy is developing Cape Station in Utah, set to become the world’s largest enhanced geothermal project. Backed by Breakthrough Energy and energy investors, the plant will deliver 500MW of always-on clean power by 2028—starting with a 100MW phase in 2026.

⚙️ Next-Gen Geothermal Tech
• Uses enhanced geothermal systems (EGS): horizontal drilling + hydraulic stimulation, adapted from fracking.
• Recent test well reached 15,765 ft with temperatures over 520°F—ready for high-efficiency power output.
• Geothermal offers 24/7 baseload power, with zero emissions and low land impact.

📈 Funding & Deployment Milestones
• $206M secured, including $100M from Breakthrough Energy Catalyst (Bill Gates) and $60M from Mercuria.
• Adds to $500M+ raised since 2024—underscoring investor confidence in scalable geothermal.
• Commercial launch starts in 2026, with full 500MW capacity targeted by 2028.

🌍 Strategic Positioning in Clean Power
• Power purchase agreement signed with Southern California Edison.
• Fervo is positioned as a utility-scale clean baseload provider for grids and data centers.
• Improved drilling efficiency (lower cost, faster wells) is accelerating the geothermal rollout.

By unlocking scalable, round-the-clock clean power, Fervo is turning geothermal from niche to essential in the future energy mix.

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🤖 Clay Expands AI Sales Platform to Take on Legacy CRMs

Clay, the fast-growing AI sales automation startup, has raised a new Series C round that doubles its valuation to $3 billion, according to sources. The round is led by CapitalG, signaling strong conviction in Clay’s AI-first approach to relationship management.

⚙️ One Workspace for Smarter Sales
• Clay combines contact data, outreach, reminders, and tracking into a single AI-powered interface.
• Automates routine sales tasks while personalizing outreach based on live web and email activity.
• Built for modern sales teams looking to move faster than legacy CRMs allow.

📈 New Funding Fuels Enterprise Push
• Series C nearly doubles Clay’s valuation; round led by CapitalG (Alphabet’s growth fund).
• Capital will support expansion into larger enterprise accounts and deeper AI tooling.
• Part of a broader shift as GTM teams seek lighter, smarter sales stacks.

🛸 Strategic Edge in a Crowded Field
• Clay stands out with its real-time enrichment, AI suggestions, and intuitive UI.
• Positioned as a next-gen layer atop or replacing traditional CRMs.
• The company is betting that software replacing repetitive sales work will define the next decade.

Clay isn’t just another CRM — it’s rethinking how modern teams build pipelines, using AI as the engine.

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🛡️ Circumvent Uses AI to Eliminate Cloud Security Alert Fatigue

Circumvent, a cloud security startup founded to address the growing problem of alert fatigue, has raised a $6M seed round to build an AI-driven remediation engine. The round was backed by notable angels including Riccardo Zacconi, co-founder of King.

✅ A new AI layer for cloud alerts
• Product: Circumvent automatically filters, correlates, and resolves cloud security alerts using a proprietary AI engine
• Pain point: SOC teams are flooded with false positives — Circumvent reduces alert noise and accelerates real threat response
• Platform: Works across fragmented cloud environments, integrating into existing security operations workflows

📈 Early traction and capital partners
• Funding: $6M seed round with backing from strategic angels and cybersecurity veterans
• Use of funds: Scaling product development and expanding go-to-market
• Vision: Become the “auto-pilot” layer for cloud security teams overwhelmed by manual alert triage

🛸 Founded by experts, focused on execution
• Founders: Built by ex-cloud and security engineers who experienced alert fatigue firsthand
• Edge: Combines automation, context, and decision logic in a single remediation layer
• Timing: Positioned at the intersection of AI-native security and rising cloud complexity

Circumvent is betting that in the era of AI and hyperscale cloud, the future of security lies in autonomous remediation, not just detection.

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💳 Aspora Builds Full-Stack NRI Banking Platform

Aspora, the cross-border fintech formerly known as Vance, has raised a $53M Series B to expand its digital banking platform for non-resident Indians (NRIs) and other global immigrant communities. The round was co-led by Sequoia Capital and Greylock, with participation from Y Combinator, Quantum Light, and Hummingbird Ventures.

✅ A cross-border platform for diaspora finance
• Product: A full-stack financial app offering remittances, banking, investments, insurance, and concierge services
• Core feature: Fee-free, real-time remittances with competitive FX rates—now extending into deposits and credit products
• Coverage: Operating in the UK, EU, and UAE; launching in the US (July 2025), with Canada, Australia, and Singapore coming soon

📈 Rapid growth and global rollout
• Traction: Over 250K users and $2B+ in transaction volume in six months, saving users an estimated $15–17M in fees
• Funding: $53M Series B brings total raised to ~$93M
• Expansion: Funds will support new product lines and global geographic expansion

🛸 Founder-led by a diaspora native
• Founder: Parth Garg, Stanford dropout and second-time founder, started Aspora to solve the pain points he faced as an immigrant
• Strategy: Corridor-first approach, building products tailored to local compliance, culture, and customer needs
• Vision: To be the all-in-one financial platform for immigrants—going far beyond remittances

Aspora is aiming to own the global diaspora wallet by combining speed, trust, and a deep understanding of immigrant financial lives.

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🛸 PostHog Turns Product Analytics into a Full AI-Driven Customer Stack

PostHog, the developer-first analytics platform, has raised a $70M Series D led by Stripe to build the next generation of AI-native tools for customer insights, experimentation, and engagement — all in one unified workspace.

⚙️ One Platform for Every Customer Signal
• Combines analytics, session replay, feature flags, A/B testing, LLM observability, surveys, and data warehousing
• New “Max AI” feature turns user behavior into natural-language insights, auto-generated dashboards, and smart summaries
• Aims to replace stitched-together tools with a seamless, developer-friendly system

📈 Stripe Backs the Shift to AI-Native Infrastructure
• Series D round led by Stripe, joined by Y Combinator, GV, and Formus Capital
• Valuation climbs to $920M, with capital fueling product expansion and team growth
• Roadmap includes a CDP launch and new tools for AI-powered support, marketing, and sales

🛸 Built for Builders, Backed by Open Source
• Founded by James Hawkins and Tim Glaser via YC in 2020 — built from day one for engineers
• Used by 176K+ companies and teams who want control, transparency, and speed
• Differentiates through open-source roots, developer-first design, and modular flexibility

PostHog is positioning itself as the AI-native control center for customer data — replacing siloed GTM stacks with one powerful platform for product-led teams.

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🚀 xAI Eyes War Chest to Build the Future of Superintelligent AI

Elon Musk’s xAI is raising $4.3B in equity, on top of a recent $5B debt deal, to scale Grok and its massive Colossus supercomputer as it races against OpenAI and Anthropic in the AGI race.

🛸 AI Built from the Ground Up
• xAI builds Grok, a chatbot focused on reasoning and truth-seeking, now integrated into X.
• It’s also building Colossus, a 100,000-GPU supercomputer under construction in Memphis.
• The company claims Grok-3 competes with GPT-4, and aims for full-stack control from chips to models.

📊 Massive Burn, Bigger Ambitions
• Total raise will hit $9.3B, making xAI one of the most capitalized AI players.
• The company is burning $1B/month with only $4B in cash left, prompting the fresh raise.
• Revenue is projected at $500M in 2025, with hopes of $2B+ by 2026.

⚠️ Strategy or Spend Trap?
• xAI’s deep integration with X and infrastructure focus set it apart—but require enormous capital.
• Environmental concerns and unclear monetization paths pose real risks.

xAI is betting that controlling the full AI stack—chips to chatbot—will justify its $9B+ burn.

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🧠 Sword Health: The AI therapist expanding from pain to mental health

Sword Health just raised $40M to push beyond physical therapy into AI-powered mental health care, hitting a $4B valuation as it bets on full-spectrum digital treatment.

🎯 From muscle strain to mental strain
• Initially built for musculoskeletal (MSK) pain, using sensors + AI for at-home therapy
• Now expanding into mental health with CBT-based tools and AI-powered coaching
• Targets conditions like anxiety and depression with integrated physical-mental support

🚀 Scaling quietly, executing globally
• Serves patients in 4 continents, with partnerships from employers to NHS trusts
• Acquired UK-based Surgery Hero in Jan 2025 to expand pre/post-op care
• Grew to $340M+ in total funding, maintaining operational efficiency through tech-first care

🗣️ Led by a mission-driven founder
• CEO Virgílio Bento founded Sword after his brother’s accident showed gaps in rehab access
• Blends clinical expertise with aggressive product and M&A strategy
• Pushing toward a unified AI care stack that delivers across body and mind

Sword isn’t just adding a mental health tab—it’s building a full-service, AI-native care platform from the inside out.

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🛡️ Helsing Builds Europe’s Full-Stack AI Defense Platform

German defense AI startup Helsing has raised €600M (~$694M) in a new round led by Spotify founder Daniel Ek’s Prima Materia, doubling its valuation to $12B as it scales from battlefield AI to autonomous drones, jets, and subs.

🎯 From software to strike drones
• Started with real-time AI for battlefield awareness—now building autonomous weapons platforms
• Products include HF-1 and HX-2 drones, AI-piloted fighter jets, and unmanned subs
• Core tech: “vision-language-action” models that help machines make fast decisions in combat

🚀 Backed by Europe’s biggest names
• Already supplying drones to Ukraine; deals with UK, Germany, Sweden
• Partnerships with Airbus, SAAB, Rheinmetall, and French AI lab Mistral
• Total funding now ~€1.37B, with investors like Lightspeed, Accel, and General Catalyst

⚠️ Full-stack means full complexity
• Rapid hardware push adds execution and regulatory risk
• Emphasizes “human-in-the-loop” control amid growing scrutiny of autonomous weapons

With €600M in fresh backing, Helsing is positioning itself as Europe’s Anduril—full-stack, combat-tested, and ready to define the future of autonomous defense.

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💳 Ramp Reinvents Corporate Spend with AI-Driven Finance Tools

Ramp, the New York-based fintech streamlining business spend, has raised $200M in a round led by Founders Fund, pushing its valuation to $16B. The company is doubling down on AI to automate everything from expense management to bill pay.

🧠 AI-powered finance automation
• Ramp’s platform covers corporate cards, expense tracking, bill pay, and procurement
• AI handles expense categorization, policy enforcement, and workflow automation
• Designed to replace legacy tools like Concur with smarter, faster systems

📈 Scale and investor backing
• Ramp now generates over $300M in annualized revenue
• Total funding exceeds $1B, with support from Founders Fund, Stripe, Khosla, and Thrive
• Valuation more than doubled since early 2024

🧭 From card startup to CFO platform
• Founded in 2019 by Eric Glyman and Karim Atiyeh
• Evolving into a full finance operating system for modern companies
• Long-term bet: AI-native finance will give CFOs strategic leverage, not just cost savings

Ramp’s AI-first strategy positions it as a category-definer in modern finance infrastructure.

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🧬 Biotope Backs Biotech Founders at the Earliest Stage

Biotope, the Belgian incubator launched by life sciences institute VIB, has secured €5M to support early-stage biotech startups across Europe. The funding will power its unique incubation model blending capital, lab access, and mentorship.

🧪 Structured launchpad for biotech founders
• Biotope selects 2–4 teams per cohort via its biannual “basecamp”
• Each startup gets €250K, 18 months of support, and access to VIB’s scientific and IP infrastructure
• Focus on transforming academic science into investable biotech companies

🌍 Early traction and pan-European reach
• Since 2022, Biotope has backed 13 startups across 5 cohorts
• Alumni span Belgium, UK, Germany, Israel, Denmark, and more
• Startups have raised over €10M in follow-on capital and €10M+ in grant funding

🧭 Bridging the biotech pre-seed gap
• Led by VIB and supported by experienced operators and scientists
• Targets agtech, therapeutics, and bio-based innovation
• Aims to scale to 30 startups with a €9M fund over six years

Biotope is proving that deep science startups don’t just need capital — they need a launch environment built by scientists, for scientists.

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🤖 Typedef Turns AI Prototypes into Production-Ready Pipelines

Typedef, an AI infrastructure startup founded by ex-Facebook and Google engineers, has emerged from stealth with $5.5M in seed funding. Its mission: help developers turn AI experiments into production-grade software with reliability, traceability, and scale.

🧩 Built for real-world AI deployment

• Typedef provides a data engine optimized for AI inference and deterministic pipelines
• Converts unstructured model output into structured, auditable, and observable systems
• Helps teams avoid the common pitfalls of brittle, one-off AI implementations

📈 Backing and founding team strength
• Seed round backed by The General Partnership and a group of top-tier angels
• Founders previously led AI platform work at Meta, Google, and Scale AI
• Described as a “world-class team” with deep infra and developer tools experience

🧭 Closing the AI production gap
• Targets teams moving from AI PoCs to enterprise-grade products
• Offers traceability, monitoring, and reliability from day one
• Early traction with devs building mission-critical AI systems

Typedef isn’t another AI model company — it’s the scaffolding that makes real-world AI actually work at scale.

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📊 Sifflet Brings Trust to AI with End-to-End Data Observability

Sifflet, the Paris-based startup tackling data reliability, has raised an $18M Series A led by EQT Ventures and Mangrove Capital. As AI adoption accelerates, Sifflet ensures data pipelines stay clean, observable, and ready for machine learning.

🧠 AI-ready data, monitored in real time
• Sifflet provides full-stack data observability—from ingestion to dashboards
• Platform detects anomalies, broken pipelines, and quality issues automatically
• Used by data teams to maintain trust in ML models and analytics

📈 Traction and global expansion
• Clients include Penguin Random House, Euronext, and other enterprise users
• New funding will support North America growth and autonomous “data watchdogs”
• Backed by EQT, Mangrove, and Capmont Technology

🧭 From stealth to strategic infrastructure
• Founded in 2021 by Salma Bakouk and the Fathallah brothers
• CEO Bakouk is ex-Goldman Sachs with a vision for trusted AI data stacks
• Positioned as a critical reliability layer in enterprise AI workflows

Sifflet is riding the observability wave as clean data becomes non-negotiable for enterprise AI.

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🌍 Glyde Disrupts FX Market with Pre‑Seed Round

Glyde, the London-headquartered FX startup aiming to shake up cross-border payments, has raised £450,000 in a pre-seed round led by Fuel Ventures. The capital will fuel engineering growth, global expansion, and sharpen its transparent FX tools.

💱 Transparent, user‑centric currency exchange
• Enables users—freelancers, global earners, SMEs—to send, receive and convert 50+ currencies without hidden markups
• Users select their own exchange rates, cutting costs up to 3× compared to Revolut and brokers
• Launching a public FX calculator that highlights the real cost of traditional providers—no sign-up required

📈 Momentum and backing
• Backed by Fuel Ventures alongside 16 angel investors including former Nomura FX head Danny Kinnear
• Funds directed toward product development, building the engineering team, and user acquisition in the UK and abroad

🧭 Built for the globe-trotting workforce
• Founded by brothers Ellis and Nathan Taylor with deep FX customer insights
• Targets digital nomads, freelancers billing in different currencies, ecommerce businesses paying suppliers
• Positioned to bring transparency and automation to FX workflows for modern global professionals and small businesses

Glyde flips the FX model—putting exchange rate control back in users’ hands. With early traction, public tools, and a capital boost, it’s poised to redefine cross-border payments for a new generation.

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💉 Tennr Automates Patient Referrals with AI to Fix Healthcare’s Bottleneck

Tennr, the NYC-based health-tech startup streamlining patient referrals, has raised a Series C round led by IVP, with backing from a16z, Lightspeed, ICONIQ, and GV. Its AI platform is replacing outdated, manual referral systems with real-time coordination.

🧠 AI for referral chaos
• Uses proprietary RaeLM model to interpret faxes, PDFs, and scanned forms
• Automates routing and intake based on payer and provider rules
• Now processes over 10M medical documents monthly

📈 Fast growth and product evolution
• Revenue has tripled since late 2024
• Launching Tennr Network to connect providers, specialists, and patients
• Funds will expand engineering and go-to-market teams

🧭 Built by engineers, shaped by care gaps
• Founded in 2021 by Stanford engineers frustrated by manual workflows
• Designed to work within existing EMRs—no disruption for clinical teams

Tennr is quietly building the digital backbone for how patients get from referral to care—faster, smarter, and with far less friction.

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🧠 Thinking Machines Wants to Make AI Safer, Smarter—and Open

Thinking Machines Lab, the AI startup founded by ex-OpenAI CTO Mira Murati, has emerged from stealth with a $2B seed round and a $10B valuation. The San Francisco-based company aims to build general-purpose AI that is more interpretable, open, and aligned with human values.

🔬 Research-first, open-science approach
• Public benefit corporation focused on transparency and reproducibility
• Committed to open-sourcing code, datasets, and research outputs
• Prioritizes human-AI collaboration and alignment with democratic norms

💥 Massive funding, elite team
• $2B seed round led by a16z and Conviction, with $50M+ minimum checks
• Advisors include top AI talent from OpenAI, Anthropic, and DeepMind
• ~30 researchers from Meta, Mistral, Google Brain, and others onboard

🧭 Murati’s mission with majority control
• Murati retains majority board voting power to protect long-term vision
• Company still in R&D phase—no product yet, but heavy investor conviction
• Strategy mirrors Anthropic’s playbook: bet big on frontier science and safety

Thinking Machines is making an audacious bid to reshape how frontier AI is built—openly, securely, and with human benefit at the center.

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🥸 Cluely Builds AI That Helps You Cheat—On Everything

Cluely, the viral AI startup helping users “cheat” on job interviews, exams, and sales calls, has raised a $15M Series A led by Andreessen Horowitz, following a $5.3M seed round just two months ago. Its desktop assistant quietly feeds answers in real time during high-stakes conversations.

🧠 Real-time AI for high-pressure moments
• Watches your screen and listens through your mic during live sessions
• Delivers real-time answers for interviews, tests, and client calls
• Designed to be undetectable and context-aware across workflows

📈 Viral growth meets early revenue
• Hit $3M in ARR and claims early profitability
• Valued at $120M post-money, with $50M+ check sizes from investors
• Growth powered by creator-led marketing and bold online campaigns

🧭 Controversial roots, bold vision
• Founded by Columbia dropouts behind a banned interview-prep tool
• a16z backs it as a “new category” of proactive AI assistance
• Faces scrutiny over ethics, reliability, and legal gray zones

Cluely is betting big that AI-enhanced “performance” is the future of knowledge work—whether the world sees it as cheating or simply evolving.

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💳 Ramp Expands from Corporate Card to All-in-One Finance OS

Ramp, the NYC-based fintech streamlining company spending, has raised a $200M Series E led by Founders Fund, pushing its valuation to $16B. Once known for its corporate card, Ramp now offers an AI-powered platform for every part of the finance stack—from expenses to procurement and treasury.

🧠 AI for finance automation
• Automates expense reports, bill pay, approvals, and accounting workflows
• Acquired Venue to power smarter procurement decisions
• New features include Ramp Treasury (2.5% yield) and Priceline-powered travel booking

📈 Rapid scale across enterprise finance
• Serves 40,000+ customers, including Shopify, Notion, and Anduril
• Processes tens of billions in annual transactions
• Shipped over 270 product updates in 2025 alone

🧭 Strategic focus beyond cards
• Founded in 2019 by serial entrepreneurs Eric Glyman and Karim Atiyeh
• Backed repeatedly by Founders Fund, Thrive, and General Catalyst
• Only ~1.5% market penetration in the U.S.—with runway for much more

Ramp is evolving into the operating system for modern CFOs—automating not just spending, but how finance teams work.

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