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I think WWDC will cause a lull in startup news. But not June, and not everyone wants to announce or even publish the latest deal.
The most interesting startup story of the week
This week has brought many reminders that the startup journey is not linear, but the next billion dollar idea may only be one click away.
Gong Chime: Neobank Chime was released this week at one of the most anticipated IPOs of the year. However, the company almost died in 2016 until it was a providential check.
Ah, baby, no: The genetics test for startup nuclear genomics has raised criticism of its new product, nuclear embryos.
Personal CRM: Automattic, owner of WordPress.com, has acquired Clay. Clay is a startup that raised over $9 million in relations management app venture capital and continues to be supported. (Trivia Alert: TechCrunch has been writing about Automattic for 20 years.)
ICYMI: Brad Menezes, CEO of Enterprise Vibe-Coding Startup SuperBlocks, has tips for future founders who are hoping to find a billion-dollar idea.
Most Interesting VC and Funding News This Week
Behind this week’s top deals, especially those that include the larger ones, are oversubscribed rounds and VC inbounds, but you’ll also find hard-earned funds and bold life decisions.
Slim and Fat: Multiverse Computing, a Spanish startup that reduces the size of LLMS, has raised an unusually large Series B of 189 million euros (approximately $215 million). The company claims that the “slim” model reduces AI costs and can be run on all kinds of devices.
Upper: Enterprise AI company Glean raised a $150 million Series F, led by Wellington Management, at a $7.2 billion valuation, starting from $4.6 billion in September 2024.
Hot Boil: Fervo Energy has landed $206 million in a mix of debt and equity from supporters, including Bill Gates’ groundbreaking energy catalyst, to continue work at Utah’s new geothermal power plant.
Nuclear Fuel: German startup Proxima Fusion has secured a 130 million euro Series A (approximately $148 million) led by Balderton Capital and Cherry Ventures.
Last Mile: Coco Robotics, a Sam Altman-backed streaming robot startup, has announced that it has raised $80 million at its funding event from 2021 to 2024. In March, we announced our partnership with Openai.
Song: Hotel guest management platform Canary is locked into a $80 million Series D led by Brighton Park Capital, with participation from Y Combinators, Insight Partners, Fidelity and more.
Fresh Capital: Tebi, a new fintech startup by former Adyen CTO Arnout Schuijff, has raised 30 million euros ($34 million) led by Capitalg of Alphabet for its all-in-one platform for hospitality businesses.
Streamlining Agreement: The UK AI Legaltech startup has secured a $30 million Series B from investors in Europe and North America, making it easier for lawyers to make the contract easier.
Base: AI Sales Startupland Base has closed its $30 million Series A co-led by existing investors Picus Capital and Ashton Kutcher’s Sound Ventures.
Shining Bright: Collab Capital has been co-founded by former head of US startup Google, Jewel Burks Solomon, to close $75 million Fund II, focusing on seed and Series A investments in the future of healthcare, infrastructure and work.
Last but not least, it’s important
The US Navy says it is “welcome” to the new startup partnership. This week in a StrictlyVC download, Deputy Chief Technology Officer Justin Fanelli shared insights on the Navy’s innovation recruitment kit and advice for startups looking to work with the Navy.