OpenAI launches tools to help businesses build AI agents & Y Combinator founders raising less money.

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STARTUPS RAISING MILLIONS

💰 Startup funding updates

Anthropic, a San Francisco-based AI startup, has received over $3 billion from Google, including a newly revealed $750 million convertible debt deal. Google now holds a 14% stake in the company but has no voting rights or board seats. With Amazon also committing up to $8 billion in investments, questions arise over whether AI startups like Anthropic remain independent or are becoming extensions of Big Tech.

GigaCrop, a Berkeley, CA-based plant biology company, raised $4.5M in Pre-Seed funding. The round was led by Playground Global and Juniper Ventures.

OpusClip, a San Francisco, CA-based provider of a generative AI-powered video editing platform, raised $20M in funding. The round was led by SoftBank Vision Fund 2 and others.

StimOxyGen, a Derry, Northern Ireland, UK-based company developing cancer treatments, raised £1.5M in funding The round was led by DSW Ventures, with co-investment from QUBIS and Co-Fund NI managed by Clarendon, leveraging additional funding from Innovate UK’s Future Economy Investor Partnership grant programme.

Synvect, a San Diego, CA-based biotechnology startup developing vector control solutions, raised $3M in Seed funding. Backers included Bill & Melinda Gates Foundation, Antler, NuFund, and Redbud.

SaySo, a NYC-based retail company providing an interactive shopping platform, raised $4M in Seed funding. The round was led by UP.Partners.

Synctera, a San Francisco, CA-based banking-as-a-service and embedded finance company, raised $15M in funding. The round was led by Fin Capital and Diagram Ventures, with participation from other existing investors including First & Main, Evolution, and True Equity.

Liminal Experiences, a UGC gaming startup dedicated to leveraging artificial intelligence to empower human-centered creativity, raised $5.8M in Seed funding. Backers included BITKRAFT Ventures, Riot Games, and OTK Media Group, with participation from angel investors including Marc Merrill, founder of Riot Games.

Harmony Intelligence, a Sydney, Australia- and San Francisco, CA-based cyber defence startup, raised USD$3M in Seed funding. The round was led by Airtree with participation from more than 30 strategic investors, including First Row Partners, Maxwell Capital, and Eric Ries.

Vori Health, a NYC-based provider of a physician-led solution for musculoskeletal care, raised $53M in Series B funding. The round was led by NEA and with participation from AlleyCorp, Intermountain Health’s Intermountain Ventures, Echo Health Ventures, and Max Ventures.

Noctal, a Los Angeles, CA-based provider of an audio engine designed to empower and enhance sound design for content creators, raised $1.8M in Seed funding. The round was led by Caruso Ventures, joining past investors such as Media Empire Ventures, Mitchell Smith, and Major League Baseball player Tony Kemp.

Podqi, a San Francisco, CA-based provider of an automated IP protection platform, raised $3.2M in Seed funding. The round was led by General Catalyst, with participation from Soma Capital, Afore Capital, and angel investors.

Good Job Games, an Istanbul, Turkey-based mobile game company, raised $23M in Seed funding. The round wad led by Menlo Ventures and Tripledot co-founder Akin Babayigit’s new games fund Arcadia Gaming Partners.

PvX Partners, a Singapore-based provider of a financing platform designed for scaling consumer apps, raised $3.8M in Seed funding. The round was led by Play Ventures and General Catalyst, with participation from angel investors such as Michail Katkoff (Founder, Deconstructor of Fun) and Matej Lancaric (Founder, two & a half gamers).

Celestial AI, a Santa Clara, CA-based provider of the Photonic Fabric™ optical interconnect technology platform, raised $250M in Series C1 funding. The round was led by Fidelity Management and Research Company, bringing the total capital raised to date to more than $515M.

Norm Ai, a NYC-based regulatory AI agent company, raised $48M in funding. Backers included Coatue, Craft Ventures, Vanguard, Blackstone Innovations Investments, Bain Capital, New York Life Ventures, Citi Ventures, TIAA Ventures, and Marc Benioff, bringing the total funds raised to $87M.

Trust & Will, a San Diego, CA-based provider of a digital estate planning platform, raised over $25M in Series C funding. The round was led by Moderne Ventures with participation from Northwestern Mutual Future Ventures, UBS Next, Erie Strategic Ventures, and other strategic investors.

Sola Security, a Tel Aviv, Israel-based self-serve cybersecurity platform provider, launched from stealth today with a $30m seed funding. The round was led by S Capital and Mike Moritz with participation from S32, Glilot Capital Partners, and several angel investors.

Enter (fka Talisman AI), a Sao Paulo, Brazil based legal tech company, raised $5.5M in funding. The round was led by Sequoia Capital.

LiquidTrust, a Los Angeles, CA-based fintech company developing secure payment solutions, raised $4M in Seed funding. The round was led by Anthemis Female Innovators Lab Fund, Resolute Ventures, and Motivate Ventures.

Cybereason, a La Jolla, CA-based attack protection cybersecurity company, raised $120M in funding. The round was led by SoftBank Corp., SoftBank Vision Fund 2, and Liberty Strategic Capital.

Worth, an Orlando, FL-based fintech startup streamlining SMB underwriting, raised a $20M seed round led by TTV Capital, with participation from Ingeborg, Florida Funders, Deep Work Capital, and Florida Opportunity Fund.

NEW VCs IN THE MARKET

🏦 Venture Capital updates

Leitmotif, a Palo Alto- and Munich-based venture firm focused on decarbonization, has raised a $300M first fund from Volkswagen Group as its sole LP. The firm, founded by ex-Volkswagen M&A head Jens Wiese and former Venrock partner Matt Trevithick, has already deployed one-third of the capital into startups like Harbinger, Redwood Materials, and Stoke Space. Leitmotif plans to invest 70% of its capital in U.S. startups and 30% in European ventures, with future funds targeting robotics and AI.

Equator, a venture capital firm focused on African climate tech startups, has raised a $55M first fund to support early-stage companies tackling sustainability challenges. The fund, backed by DFIs like BII, IFC, and Proparco, as well as foundations including the Shell Foundation and Bezos’ Earth Fund, aims to invest in 15-18 startups with $750K-$2M checks.

KEY STORIES IN TECH

📜 Latest in tech

Meta is reportedly testing in-house chips for AI training:

• Meta is piloting an in-house AI training chip developed with TSMC to reduce reliance on Nvidia and cut hardware costs.

• Unlike previous Meta chips designed only for running AI models, this one is focused on training AI systems.

• With $65 billion in planned capital expenditures this year, Meta aims to curb spending on Nvidia GPUs if its in-house chip proves successful.

OpenAI launches tools to help businesses build AI agents:

• OpenAI introduced the Responses API, replacing the Assistants API, allowing developers to build AI agents that browse the web, search company files, and automate tasks.

• The API includes GPT-4o search models, a file search utility, and a computer-using agent (CUA) that can automate workflows and actions on a computer.

• OpenAI admits the tools are still prone to errors, but aims to improve agent reliability, pushing toward its goal of making 2025 the "year of the AI agent."

Apple set to unveil boldest software redesign in years:

• Apple is planning significant design updates for its iPhone, iPad, and Mac operating systems, marking the most substantial revamp in years, according to a Bloomberg report.

• The upcoming iOS 19, iPadOS 19, and macOS 16 will feature refreshed icons, menus, apps, windows, and buttons, aiming to simplify user navigation and control based on VisionOS design elements.

• This major redesign effort is led by Alan Dye, Apple's VP of human interface design, and the new so

Eric Schmidt is the newest Big Tech-to-space exec:

• Eric Schmidt, the former CEO of Google, is now leading the rocket startup Relativity Space as its new chief executive, replacing co-founder Tim Ellis in the role.

• Schmidt joins other notable tech leaders like Elon Musk of SpaceX and Jeff Bezos of Blue Origin in transitioning from technology to space ventures.

• Relativity Space, known for launching the first 3D printed rocket, is developing the Terran R with plans for a late 2026 launch, while Schmidt has invested significantly in the company, gaining a controlling interest.

Apple and Meta face modest fines for alleged EU rule breaches:

• The EU is preparing modest fines for Apple and Meta over alleged violations of the Digital Markets Act (DMA) but is prioritizing compliance over strict penalties.

• The fines are expected to be lower than the maximum 10% of global revenue, given the short duration of violations and geopolitical tensions, including U.S. threats of retaliatory tariffs.

• Meta and Apple argue that EU demands exceed the DMA’s legal scope, with Apple warning of increased security risks due to imposed changes.

LAST COFFEE SIP

☕Other news

Y Combinator founders raising less money signals a ‘vibe shift,’ VC says:

• Some Y Combinator founders are opting to raise less VC funding despite strong investor interest, prioritizing control and lean operations over rapid scaling.

• Investor Terrence Rohan notes a shift in mindset, while critics like Rippling’s Parker Conrad argue that less funding could leave startups vulnerable to better-funded competitors.

• While AI startups like Anysphere and ElevenLabs initially scaled with small teams, they eventually raised significant capital, suggesting the lean approach may not be sustainable long-term.

HIRING ALERT: STARTUPS & VC ROLES

💼 Today’s VC & startup job opportunities

• Principal - Identity Venture | Germany - Apply Here

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• Program & Events Manager - Plug and Play Tech Center | USA - Apply Here

• Content Manager - Bessemer Venture Partner | USA -Apply Here

• Investor Relations Manager - Faad Capital | India - Apply Here

• Analyst - Yali Capital | India - Apply Here

• Platform Manager - Equal Venture | USA - Apply Here

• VC Fund Operations - ITI growth opportunities fund | India - Apply Here

• Analyst - Vine Venture | USA - Apply Here

• Portfolio Manager - SeaX Venture | Thailand - Apply Here

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