Humane AI Pin's Daily Returns Outpacing Sales & Techstars, Dell Fires Thousands Of Employees

☕Hey there, Welcome to today's quick rundown in the Venture Daily Digest Newsletter. We've got the scoop on startup fundraising, VC funds, and some cool tech – all in just 5 minutes!

Top News

Kenneth Stanley, co-founder of Maven (Former OpenAI Researcher) backed by Sam Altman, is stepping down three months after its public launch due to insufficient growth to attract further investment.

Humane AI Pin sales fell short with only 10,000 units shipped out of a targeted 100,000, and more returns than purchases between May and August left 7,000 units in circulation. Despite $9 million in sales, over $1 million worth of returned, non-refurbishable pins have raised e-waste concerns and sparked debates on the product's accessibility and privacy implications.

Other Major News

• Join the Founder Institute’s live online event with Mark Milastsivy, founder of Firstbase. (Sign Up For Free)

• Anduril, a defense tech startup raised $1.5 Billion from founders fund. . (Scroll To Funding Updates)

• A group of tech investors called "VCs for Kamala" raised $176,000 to support Vice President Kamala Harris'. (Scroll To VC Updates)

• MVP is Over. You Need to Think About MVE.? (Scroll To Featured Article)

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🗞️ Startup Funding Updates

Anduril, a defense tech startup based in the United States, aims to become a major American defense contractor by developing autonomous military systems and software-defined manufacturing platforms. The company recently closed a massive $1.5 billion funding round, valuing it at $14 billion. This latest investment was co-led by Founders Fund and Sands Capital, with participation from new institutional investors like Fidelity Management and Research Company, and Baillie Gifford. More Here

Maya Watson and Lexi Nisita, former Netflix and Clubhouse employees, co-founded why?!, a new social app blending messaging, networking, and dating to combat loneliness. They've raised $1.65 million in a pre-seed round led by Precursor Ventures. More Here

Blue Skies Space, a London-based space startup, aims to revolutionize space research by launching satellites to collect and sell astronomy data as a service. The company plans to launch its first satellite, Mauve, in October 2025 as part of SpaceX's Transporter 15 program. Blue Skies Space has raised approximately $6.5 million from investors including SFC Capital and Sparx Group, as well as grants from programs like Europe's Horizon R&D. More Here

Neon, a San Francisco, CA-based provider of a serverless Postgres database built for developers, raised $25.6M in funding. The round, which brought the total amount to $130.6M, was led by M12, Microsoft’s Venture Fund, with participation from Abstract Ventures, General Catalyst, Menlo Ventures, and Notable Capital. More Here

Napkin, a Los Altos, CA-based provider of Visual AI for Business Storytelling, raised $10m in seed funding. Backers included Accel and CRV. More Here

Clear Demand, a Scottsdale, AZ-based AI Price and Promotion Optimization software provider, received a strategic investment from M33 Growth. The amount of the deal was not disclosed. More Here

CorrosionRADAR, a Cambridge, UK-based provider of smart corrosion monitoring solutions, raised £5M in Series B funding. The round was led by Aramco Ventures, Dow and Kanoo Ventures and backed by Mercia Ventures, investing via the Midlands Engine Investment Fund (MEIF). More Here

Anjuna, the Palo Alto, CA-based creator of Anjuna Seaglass, the universal confidential computing platform, raised $25M in Series B2 funding. The round was led by M Ventures, SineWave Ventures, and AI Capital Partners (Alpha Intelligence Capital’s U.S.-based fund), with participation from existing investors Founder Collective, Insight Partners, Playground Global, and Uncorrelated. More Here

Mechanical Orchard, a San Francisco-based startup founded by Rob Mee in 2022, aims to tackle digital transformation challenges by using AI-enhanced tools to modernize companies' aging apps and services. The company recently closed a $50 million Series B round led by GV (formerly Google Ventures), bringing its total funding to $74 million. More Here

Bandana, a New York City-based startup, is focused on helping lower-wage workers find better jobs with higher pay and benefits closer to home through its user-friendly website and job mapping system. The company recently secured an $8.5 million investment, bringing its total funding to $12.3 million. This latest round was led by General Catalyst, with participation from returning investors Craft Ventures and Triple Impact Capital. More Here

Datch, a NYC-based company which specializes in AI technology for frontline manufacturing, energy and utility sectors, raised $15M in Series A funding. The round was led by Third Prime, with participation from Blackhorn Ventures, Blue Bear Capital and Susquehanna Investment Group. More Here

DC Connected Car GmbH, a Leibi, Germany-based company which specializes in AI-driven remote vehicle diagnostics, closed a €2.1M seed funding. The round was led by VENPACE, with participation from Borusan Ventures, Atlas Ventures, Network.VC, and existing investors APX, Bloomhaus Ventures, and Business Angels. More Here

CroíValve, a Dublin, Ireland-based medical device company focused on the development of a novel transcatheter device for the treatment of tricuspid regurgitation, raised $16M in equity funding. The round was led by MedTech & Irrus Syndicates, included participation from all current investors, Ascentifi, Furthr, Broadview Ventures, Atlantic Bridge University Fund, Enterprise Ireland, Elkstone & SOSV, along with a new investor, IAG Capital Partners. More Here

Carketa, a Lehi, UT-based provider of end-to-end data and intelligence software for the automotive industry, raised $4.4M in funding. The round was led by Capital Eleven, with participation from both new and existing investors, including Crosslink Capital, Origin Ventures, Allegis Capital, and Peak Ventures. More Here

Nexio, a developer of a Bitcoin scaling solution, recently raised $2.2m in pre-seed funding. The round was led by Lattice Fund, with participation from HTX Ventures. More Here

Riverlane, a Cambridge, UK-based quantum error correction technology company, raised $75M in Series C funding. The round was led by Planet First Partners, with participation from ETF Partners and EDBI. Existing investors Cambridge Innovation Capital (CIC), Amadeus Capital Partners, the UK’s National Security Strategic Investment Fund (NSSIF), and global leader in computational intelligence Altair also participated. More Here

Cala Systems, a Boston, MA-based creator of intelligent heat pump water heaters, raised $5.6M in Seed funding. The round was led by Massachusetts Clean Energy Center (MassCEC) and Clean Energy Venture Group, and included Burnt Island Ventures, Leap Forward Ventures, CapeVista Capital, Collaborative Fund, and Climate Capital. More Here

LightSolver, a Tel Aviv, Israel-based laser-based computing company, received an initial grant of €2.5M from the EIC Fund combined with a future equity investment of €10M, totaling €12.5M. More Here

Avoli, a Portland, OR-based athletic brand dedicated exclusively to the performance needs and aspirations of women and girl volleyball athletes, raised $2.1M in funding. Backers included Ho Nam (Managing Director and Co-Founder at Altos Ventures), Blythe Jack (former Managing Director at both TSG Consumer Partners and Rosewood Capital), and Pete Saperstone (Partner at Greycroft Partners). More Here

BBTruck, a Taipei, a Taiwan-based provider of a supply chain and logistics technology, extended its Pre-Series A funding to over $6M. The round was led by Oasis Venture, H2U Corp., and StarWorks Entrepreneurial Venture Capital. More Here

3V Infrastructure, a NYC-based electric vehicle charging infrastructure owner and operator, raised up to $40M in funding. An affiliate of Greenbacker Capital Management provided the finaical resources. More Here

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📰 Venture Capital Updates

A group of tech investors called "VCs for Kamala" raised $176,000 to support Vice President Kamala Harris' path to the presidency during a Zoom call that attracted up to 600 attendees. The initiative, which began with a tweet by Leslie Feinzaig, aims to counter the perception that all venture capitalists support Trump or MAGA politics. Participants criticized Andreessen Horowitz's support for Trump and what they saw as an "anti-regulation" stance, arguing instead for responsible growth and regulations in the tech industry.

📌 Featured Article

MVP is Over. You Need to Think About MVE.

(Hint: V isn’t for viable — it’s for valuable)

Most startups fail because first-time founders either under-invest and create something untested based on gut instinct, or over-invest without validating if it provides value.

The crucial question is not "how can I solve this problem?" but "how can I create a valuable experience that people desperately need and will pay for?"

The example of Thomas Edison's light bulb invention highlights this - existing bulbs were viable but not valuable as they didn't last long. Edison focused on creating a Minimum Valuable Experience (MVE) by making affordable, durable bulbs that provided the illumination people craved.

To identify an MVE, use the A.C.T. framework:

• Audience - Deeply understand your ideal customer segment, their behaviours, goals, and what they seek.

• Communication - Craft messaging using language and formats that resonate with your audience.

• Touchpoints - Design triggers and channels to move your audience to action effectively.

The startup Webflow exemplifies mastering A.C.T. The founders envisioned empowering designers through no-code web design. They intimately knew this audience, positioned Webflow's unique value and gained explosive traction via platforms like Hacker News. Though facing numerous setbacks, their clarity of vision and customer focus ultimately led to billions in valuation.

Startups must relentlessly pursue creating meaningful experiences, not just viable products. Continuously adapt based on audience feedback. Success stems from this laser focus on delivering an MVE that genuinely improves customers' lives in ways they'll pay for.

We haves shared in detailed writeup in our Venture Curator newsletter, Check out here…

📑 Startup’s Latest Buzz

Acquisition & Going Public

New York-based fintech Payoneer has acquired Singapore's HR and payroll startup Skuad for up to $81 million, including $61 million in cash. More Here

CloudBees, a San Francisco, CA-based provider of software development platforms for more than 500 enterprises, acquired Launchable, a company that brings an AI-augmented approach to QA.

Exiger, a Washington, DC-based supply chain and third-party risk AI company, acquired logistics intelligence platform XSB.

Celero Commerce, a Nashville, TN-based financial services company (INC 500), announced the acquisition of Sona, a Halifax, Canada-based provider of electronic payments technology to businesses across Canada.

Layoffs & Bankruptcy

Techstars, a startup accelerator, is laying off 17% of its workforce and ending its $80 million J.P. Morgan-backed AdvancingCities program. More Here

Dell has announced a major reorganization of its sales division, resulting in layoffs affecting approximately 12,500 employees, to focus on AI and streamline operations.

Startups & People

Kenneth Stanley, co-founder of Maven (Former OpenAI Researcher), is stepping down three months after its public launch due to insufficient growth to attract further investment. Stanley and co-founder Blas Moros are exploring new opportunities to extend Maven's runway, with CTO Jimmy Secretan staying on to drive product innovation. Despite initial support from notable investors like EV Williams and Sam Altman, Maven faces challenges in user growth and monetization. More Here

🤖 Latest In Emerging Tech

The release of OpenAI’s new GPT-4o “omni” model in May significantly boosted ChatGPT’s app revenue, which hit a record $28 million in net revenue in July, according to Appfigures. The app's gross revenue increased from $28.9 million in May to $39.9 million in July, with the App Store accounting for 83% of the earnings.

Ripple Labs has been ordered to pay the SEC $125 million in penalties for improperly selling XRP, a fraction of the $2 billion initially sought. The SEC had sued Ripple in 2020, but dropped remaining claims against its CEO and co-founder in October.

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