ColdplayGate + $100M+ Deals
Reindustrialize, Hadrian, Lovable, Anthropic, Substack, Perplexity, OpenAI AI Agents, Chariot Defense, Tesla Diner
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Hello from DC
Well, almost, I’ll be there tonight to make it in time for the All-In Pod + Hill & Valley “Winning the AI Race” event tomorrow. A summit in Washington D.C. featuring a Keynote Address by President Donald J. Trump.
This will be President Trump’s first major address on the topic of artificial intelligence since the start of his second term as President. - Jacob Helberg
Reindustrialize Recap
The Reindustrialize Summit's mission is focused on uniting leaders from technology, manufacturing, government, and defense to drive innovation, policy, & investment for a bipartisan, AI-driven reindustrialization of America.
I was lucky enough to score a conference room there to record 20 interviews in 30 hours (full list here). The result? Extra patriotism.. & a new Sourcery Mini-Series
Introducing: Made in America
Featuring 20+ of the most important leaders in American progress. First episode with Palantir’s Senior Counselor, Greg Little, drops in a few hours.
Musings
AI
Introducing ChatGPT agent: bridging research and action
ChatGPT now thinks and acts, proactively choosing from a toolbox of agentic skills to complete tasks for you using its own computer.
Cognition CEO Scott Wu on Acquiring Windsurf: The Process, The Deal, The Rationale
Watching → the quiet transformation of the data pipeline (Scale AI, Turing, Toloka)
VC
Rex Woodbury: “We're in the most consensus market we've ever seen”
➤ On the deal side: over a third of venture dollars in the 1H 2025 went to 5 (!) companies.
➤ On the LP side: 50%+ of LP dollars this year have gone to 12 firms. Last year, 74% of LP dollars went to 30 firms.
Tesla Diner
Tesla Diner is retro-futuristic diner & drive-in charging experience with two 45-foot screens all wrapped into one
80 V4 Supercharger stalls are open to all NACS-compatible EVs, making it the largest urban Supercharger in the world (more photos + full menu)
ColdplayGate
If you’re looking for real-time reporting, look no further than Co-Founder & former CEO of Astronomer, Ry Walker (now CEO of Tembo - ai agents for eng teams)
Check out Kalshi → The largest prediction market & the only legal platform in the US where you can trade directly on the outcomes of future events (sports, Cluely, politics, weather, AI, etc).
Top Interviews
Hadrian Raises $260M Series C Led by Delian Asparouhov of Founders Fund & Lux Capital
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Last Week (7/14-7/18):
Relevant deals include the 70+ deals across stages below. I've categorized the deals below into seven categories, Fintech, Care, Enterprise / Consumer, HardTech, Sustainability, Acquisition/PE, and Fund Announcements, and ordered from later-stage rounds to early-stage rounds.
VC Deals
Fintech:
- CertifID, an Austin-based wire fraud protection platform for the real estate industry, raised $47.5 million in Series C funding. Centana Growth Partners led the round and was joined by existing investor Arthur Ventures.
- Spiko, a tokenized infrastructure company for smaller businesses, raised $22m in Series A funding. Index Ventures led, and was joined by White Star Capital, Frst, Rerail, Bpifrance and Blockwall.
- Heron, a New York City-based startup using AI to automate workflows in business lending, equipment finance, and insurance, raised $16 million in Series A funding. Insight Partners led the round and was joined by Y Combinator, BoxGroup and Flex Capital.
- Bonus Homes, a home equity sharing startup that pitches itself as an alternative to selling, raised $15.5 million in seed funding,
- Murphy, a Barcelona, Spain-based agent debt servicing business, raised $15m in pre-seed and seed funding led by Northzone, with participation from ElevenLabs, Lakestar, and Seedcamp.
- Heka, a New York City-based startup building a new category of identity intelligence for financial institutions, raised $14 million in Series A funding. Windare Ventures led the round and was joined by Barclays, Cornèr Banca, and others.
- Decile Group, a Palo Alto-based venture capital firm incubator and platform, raised $14 million in seed funding. Draper Associates, Javelin Venture Partners, and Geek Ventures led the round.
- Dakota, a crypto-integrated business banking platform, raised $12.5 million in Series A funding. CoinFund led the round and was joined by 6th Man Ventures and Triton Ventures.
- Quandri, a Vancouver-based AI-enabled insurance servicing platform, raised $12 million in funding. Framework Venture Partners led the round and was joined by Intact Ventures and existing investors FUSE and Defined Capital.
- Retirable, a New York City-based holistic retirement planning platform, raised $10 million in Series A funding. IA Capital Group led the round and was joined by Nationwide Ventures, Western & Southern Financial Group, Clocktower Ventures, and existing investors Primary Venture Partners, Portage Ventures, Vestigo Ventures and SilverCircle.
- Coverflow, a San Francisco-based AI insurance platform, raised $4.8 in seed funding. AIX Ventures led the round and was joined by Founder Collective and Afore Capital.
- Covenant, a New York City-based AI law firm built for private market investors, raised $4 million in seed funding. Flybridge Capital led the round.
- Juno, a corporate travel operations and expense management platform, raised $4 million in seed funding. Avid Ventures led the round and was joined by Matchstick Ventures and existing investors Madrona Ventures and Bungalow Capital.
- Mango, a Mexico-based fintech platform for the construction industry in Latin America, raised $3 million in seed funding. Ironspring Ventures led the round and was joined by Brick & Mortar Ventures, Great North Ventures, and Incisive Ventures.
- Paypercut, a Bulgarian-based payments aggregation platform, raised €2 million ($2.3 million) in pre-seed funding. Concentric led the round and was joined by Passion Capital, RTP Global, Tuesday Capital, and more.
Care:
- OpenEvidence, a Cambridge, Mass.-based AI medical assistant for doctors, raised a $210m Series B round co-led by Google Ventures and Kleiner Perkins, valuing it at $3.5b. Coatue, Conviction and Thrive also participated
- Boulevard, a Los Angeles-based client experience platform for appointment based, self-care businesses, raised $80 million in Series D funding. JMI Equity led the round and was joined by existing investors Index Ventures and VMG Partners.
- evolvedMD, a Scottsdale-based collaborative care management provider, raised $34 million in Series B funding. Goldman Sachs Alternatives led the round and was joined by existing investors.
- Asepha, a Toronto-based startup leveraging AI agents for pharmacy automation, raised $4 million in seed funding. Glasswing Ventures and Core Innovation Capital led the round and were joined by Panache, RedBud, MGV, and others.
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Enterprise/Consumer:
- xAI, Elon Musk's AI business, is reportedly seeking a $200b valuation for its next raise, per the FT. The WSJ reports that Musk's SpaceX has agreed to invest $2b into the business.
- Thinking Machines Lab, an artificial intelligence research and product company, raised $2 billion in additional funding. a16z led the round and was joined by NVIDIA, Accel, ServiceNow, CISCO, AMD, Jane Street and others.
- Anthropic, the foundational AI model startup, is in early talks to raise at a valuation over $100b
- Island, a Dallas-based enterprise workspace and application delivery platform, raised $250 million in previously announced Series E funding. Coatue Management led the round and was joined by J.P. Morgan Growth Equity Partners.
- Lovable, a Stockholm-based AI-powered app-building platform, raised $200 million in Series A funding. Accel led the round and was joined by existing investors 20VC, byFounders, Creandum, Hummingbird, Visionaries Club, and others.
- Perplexity AI, the AI search startup, raised $100m at an $18b valuation
- Substack, the email newsletter platform, raised $100m in Series C funding at an over $1.1b valuation. Andreessen Horowitz, The Chernin Group, BOND, Klutch Sports Group CEO Rich Paul and Skims CEO Jens Grede participated
- Moonvalley, a Toronto-based AI research company, raised $84 million in additional funding. General Catalyst led the round and was joined by Creative Artists Agency (CAA), AI Cloud CoreWeave, Comcast Ventures, and existing investors Khosla Ventures and YCombinator.
- Spacelift, a Redwood City, Calif.-based data-center infrastructure automation platform, raised $51m in Series C funding led by Five Elms Capital, with participation from Endeavor Catalyst and Inovo VC.
- Unify, a San Francisco-based AI technology company focused on streamlining AI and machine learning workflow, raised $40 million in Series B funding. Battery Ventures led the round and was joined by OpenAI Startup Fund, Thrive Capital, Emergence and others.
- NetBox Labs, a New York City-based commercial steward of open source NetBox, raised $35 million in Series B funding. NGP Capital led the round and was joined by Sorenson Capital, Headline, existing investors Flybridge Capital, Notable Capital, Mango Capital, and more.
- Tavrn, an San Francisco-based AI-driven legal tech platform, raised $15 million in Series A funding. Left Lane led the round and was joined by existing investors A*, Hummingbird Ventures, and Box Group.
- Felt, an Oakland-based cloud-native Geographic Information Systems (GIS) platform, raised $15 million in funding. Energize Capital led the round and was joined by BCV and Footwork.
- Folio, a hospitality-focused procurement startup, raised $14m in Series A funding, Thrive Capital and Construct Capital co-led the Series A round, which included participation from Redseed and SciFi VC
- SuperAnnotate, a San Francisco-based AI data platform, raised $13.5 million in additional Series B funding. Dell Technologies Capital led the round.
- Zip Security, a New York City-based security, compliance, and IT automation company, raised $13.5 million in Series A funding. Ballistic Ventures led the round and was joined by Silver Buckshot, Mantis VC, and existing investors General Catalyst, Human Capital and Box Group.
- Cogent Security, a San Francisco-based AI taskforce for vulnerability management within in-house security, raised $11 million in funding. Greylock Partners led the round and was joined by Lockstep and others.
- ParadeDB, a New York City-based search and analytics program for Postgres, raised $12 million in Series A funding. Craft Ventures led the round and was joined by Y Combinator, General Catalyst, Susa Ventures, and others.
- Rwazi, an Los Angeles-based AI platform for consumer data, raised $12 million in Series A funding. Bonfire Ventures led the round and was joined by Santa Barbara Venture Partners, Newfund, and Alumni Ventures.
- Empirical Security, a Chicago-based AI-powered cybersecurity company, secured $12 million in seed funding. Costanoa Ventures led the round.
- Cogent Security, an Alexandria, Va.-based vulnerability management company, raised $11m in seed funding led by Greylock Partners
- Callidus Legal AI, a McKinney, Texas-based AI legal platform, raised $10 million in funding. Cervin Ventures led the round and was joined by AI Fund, Myriad Venture Partners, Tandem Ventures, and others.
- Collate, a Saratoga, California-based AI-platform to organize data, improve quality, and automate governance, raised $10 million in Series A funding. Venrock led the round and was joined by Unusual Ventures and Karman Ventures.
- Duranta, a Seattle-based software platform for landscapers and lawn care professionals, raised $7 million in seed funding. Base10 Partners, Pear, Coalition Operators and Sunshine Lake led the round.
- ProductNow, a Palo-Alto based AI-native operating system for product teams, raised $6 million in seed funding. Sierra Ventures led the round and was joined by Parameter Ventures.
- StrongestLayer, a San Francisco-based cybersecurity company developing AI-native email security and human risk solutions, raised $5.2 million in seed funding. Sorenson Capital led the round and was joined by Recall Capital.
- Kiku, a Copenhagen-based AI-powered recruitment platform, raised €4 million ($4.6 million) in seed funding. Cherry Ventures led the round and was joined by Yellow and others.
- Confident Security, a San Francisco-based startup building provably private AI inference technology, raised $4.2M in seed funding. Decibel led the round and was joined by South Park Commons, Ex Ante, and Swyx.
- Helios, a NY-based AI-native tech startup for public policy professionals, raised $4 million in funding. Unusual Ventures led the round and was joined by Founders, Inc., Alumni Ventures, and others.
HardTech:
- Groq, the AI chip startup, is in talks to raise between $300m and $500m at a $6b valuation
- Hadrian, a Torrance, California-based AI-powered manufacturing company, raised $260 million in Series C funding. Founders Fund, Lux Capital, and Morgan Stanley led the round and were joined by Altimeter, 1789 Capital, Andreessen Horowitz, Construct Capital, 137 Ventures, and others.
- Exodigo, a Palo Alto-based AI-powered underground mapping solution provider, raised $96 million in Series B funding. Zeev Ventures and Greenfield Partners the round and were joined by Vintage Investment Partners, Leblon Capital, and existing investors 10D, Square Peg and JIBE.
- Bedrock Robotics, a San Francisco-based autonomous construction technology company, raised $80 million in seed and Series A funding. Eclipse and 8VC led the rounds, and were joined by Two Sigma Ventures, Valor Equity Partners, NVentures, Crossbeam Venture Partners, Raine Group and more.
- GeologicAI, a Calgary-based minerals data company, raised $44m in Series B funding led by Blue Earth Capital, with participation from Breakthrough Energy Ventures, Rio Tinto and the VC arm of BHP
- Firestorm Labs, a California-based drone printing company, raised $35m in Series A funding. New Enterprise Associates led and was joined by Washington Harbour Partners, and the venture arms of Lockheed Martin and Booz Allen Hamilton. It also raised $12m in debt.
- XTEND, a Tel Aviv-based robotics and autonomous systems provider powered by proprietary AI, raised $30 million in an extension of Series B funding. Aliya Capital Partners and Protego Ventures co-led the extension, and were joined by existing investors Claltech, Union-Tech Ventures and Chartered Group.
- Datavations, a New York City-based intelligence provider for the building materials and home improvement industries, raised $17 million in Series A funding. Forestay Capital led the round and was joined by Morpheus Ventures, existing investors Sage Venture Partners, Nevcaut Ventures, and others.
- Felt, an Oakland, Calif.-based platform for geospatial work, raised $15m in funding led by Energize Capital. BCV and Footwork also participated.
- LGND AI, a New York-based earth data business, raised $9m led by Javelin Venture Partners, with participation from AENU, Space Capital, Overture, Ridgeline, MCJ, Coalition Operators, and Clocktower Ventures.
- Chariot Defense, a South San Francisco-based energy defense tech, raised $8m in seed funding led by General Catalyst and XYZ Venture Capital.
- Monumental Labs, a New York City-based AI-powered architecture and sculpture design firm, raised $8 million in seed funding. Seven Seven Six led the round and was joined by Mythos Ventures, Gravity Capital, Path Ventures, and more.
- Auriga Space, an Orange County-based aerospace technology company, raised $6 million in funding. OTB Ventures led the round and were joined by US AFWERX and SpaceWERX.
- BQP, a Syracuse-based quantum-first simulation company, raised $5 million in seed funding. Monta Vista Capital led the round and was joined by New York Ventures, Arc Ventures, Armory Square Ventures, and more.
Sustainability:
- Amogy, a Brooklyn-based clean tech company building solutions to use ammonia as a fuel, raised $23 million in funding. Korea Development Bank and KDB Silicon Valley led the round and were joined by BonAngels Venture Partners, Pathway Investment and JB Investment.
Acquisitions & PE:
- Vanta acquired Riskey, a Tel Aviv-based risk monitoring software company. Financial terms were not disclosed.
- Cognition agreed to acquire Windsurf, a Mountain View-based AI-powered code editor. Financial terms were not disclosed.
- Rokt agreed to acquire Canal, a San Francisco-based marketplace growth platform. Financial terms were not disclosed.
- Doorvest, a San Francisco-based real estate investing app, acquired Wreno, a Scottsdale, Ariz.-based vendor management platform backed by Lerer Hippeau and Fifth Wall Ventures.
- Pronto.ai, a San Francisco-based autonomous vehicle haulage tech developer, acquired SafeAI, a Santa Clara, Calif.-based autonomous heavy equipment company backed by Autotech Ventures
- ServiceNow's $2.9b acquisition of Moveworks, an agentic AI company, is under DoJ review
- Lyra Health, backed by Dragoneer, acquired Bend Health, a pediatric mental-health care company backed by Maveron, Next Play Ventures, and Novartis.
- Uber (NYSE: UBER) will invest $300m in Lucid (Nasdaq: LCID), the electric robotaxi maker
IPOs:
- Heartflow, a Mountain View, Calif.-based cardiovascular disease test company, filed for an IPO on the Nasdaq. It posted revenue of $125.8m in 2024 and a loss of $96.4m. Bain Capital, HealthCor Partners, and Wellington back the firm
Funds:
- Stone Point Capital, a Greenwich, Connecticut-based private equity firm, raised $11.5 billion for its tenth fund focused on owner-operators in and around the global financial services industry.
- Verified Capital, a San Francisco-based venture capital firm, raised $175 million for its first fund focused on AI, SaaS, infrastructure, marketplaces, and payments.
- Mantis, a Los Angeles-based venture capital firm, raised $100 million for its third fund focused on cybersecurity, AI, frontier tech, data and cloud infrastructure, and healthtech.
Axios Final Numbers:
Data: Axios research; Chart: Axios Visuals
Substack raised $100 million in Series C funding at a more than $1.1 billion valuation Thursday, a source confirmed to Axios.
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The material presented on Molly O’Shea’s website are my opinions only and are provided for informational purposes and should not be construed as investment advice. It is not a recommendation of, or an offer to sell or solicitation of an offer to buy, any particular security, strategy, or investment product. Any analysis or discussion of investments, sectors or the market generally are based on current information, including from public sources, that I consider reliable, but I do not represent that any research or the information provided is accurate or complete, and it should not be relied on as such. My views and opinions expressed in any website content are current at the time of publication and are subject to change. Past performance is not indicative of future results.
Massive funding rounds!! I've seen this pattern before, curious how these companies will run onboarding + retention. That's where most struggle first.