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This week brought a mixed message. It’s a fresh IPO filing, but overall there is a dark outlook at the exit. It’s a new funding round, but the founder was unhappy with the lack of capital. And in it, some VCs are still finding ways to generate liquidity in a more bullish era and fundraising.
The most interesting startup story of the week
In contrast for the week, the startup showed both confidence and anxiety, and even the second founder was not spared from the struggle.
Whether they’re fearless: Design software company Figma has filed confidential documents with the IPO, ignoring the fear that both Klarna and Stubhub have suspended their IPO plans this month following the stock market crash caused by the tariff announcement.
However, there’s no need to worry about Figma. With the term “Dev Mode,” I sent a lovable stop and assumed letter to my rapidly rising “vibe coding” rivals.
Frustration: The UK founder expressed his dissatisfaction with the growing gap between the UK startups and fundraising raised by Silicon Valley peers. According to Dealroom, the UK startup raised just £16.2 billion (approximately $21.5 billion) last year, compared to the approximately $73.8 billion (£65 billion) it raised in the US.
Smashed: Smashing, the AI-powered reading curation app launched last June by Otis Chandler, founder of Goodreads, has been shut down due to disappointing growth.
Stop: Blusmart, an Indian Uber rival using EV, apparently stopped services the day after India’s Securities and Exchange Commission began an investigation into Gensol Engineering, which shares its co-founder.
Back: A month after resuming his role as CEO of Bolt, Ryan Breslow unveiled a new “super app” that reflects his vision for the fintech company he founded in 2014.
Research: Rippling’s efforts to serve Deel CEO Alex Bouaziz have been significantly hampered by the fact that he and his lawyer are currently in the UAE, TechCrunch learned. However, the company has not given up, and is pushing for Revolut to reveal who was allegedly spying for Deel.
Tailwinds: Openai reportedly is trying to buy Windsurf for $3 billion. The startup was previously known as Codeium, but its popular AI coding assistant competes with cursors and more.
Most Interesting VC and Funding News This Week
This week brought in news of fundraising hinting at a better day. This has valuations and greater funding that may no longer be exceptional.
Growth: UK insurance startup Marshmallow raised $90 million in equity and debt at a valuation just above $2 billion. Focusing on customers left to traditional insurers, one million drivers are insured and boasts a profitable annual revenue occupancy of $500 million.
Hammered Win: Hammerspace is a company that helps clients such as Meta use unstructured data, raising $100 million in funding to expand their business. Sources say the valuation is over $500 million.
New Chapter: Chapter, a Medicare Advisory startup co-founded by former US Republican presidential candidate Vivek Ramaswamy, has raised $75 million in funding at a $1.5 billion valuation.
Phantom Limbs: Austin, Texas-based Phantom Neuro has raised $19 million to fund the development phase of the product, a device that Amputees can control prosthetic limbs, which is a subdermal wristband-like device.
Resilient: Conifer, a startup with electric hub motors that doesn’t require rare earth elements, has secured a $20 million seed round from deep tech investors.
Sunny Day: Arnagy, a clean, high-tech startup backed by Bill Gates’ groundbreaking energy venture, has shut down a $15 million Series B expansion to expand Nigeria’s solar access.
Bull: Peter Thiel’s Founders Fund has completed a salary increase for the third Growth Fund. It closes with $4.6 billion, which is a major step up from the previous $3.4 billion growth fund. This may be another indication that the market has gone from Bearish to Bullish again.
Last but not least, it’s important
VCs need liquidity and know very well how to find an IPO even if it is not visible. In the latest episode of StrictlyVC Download, Industry Ventures CEO Hans Swildens has broken down the way companies are navigating the issue.