Musk offered $97.4 billion to buy OpenAI & France unveils $112B AI investment.

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• Early stage startup financial model template for fundraising, simply put your numbers and get right financial model.

• 2700+ US angel investors & VC firms contact database (Email + LinkedIn Link).

• Questions VCs may ask you - The only guide you need.

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STARTUPS RAISING MILLIONS

💰 Startup funding updates

Groq, a U.S.-based AI chip startup, secured a $1.5B commitment from Saudi Arabia to expand its AI chip delivery and data center in Dammam. Backed by Cisco Investments, Samsung Catalyst Fund, and BlackRock, Groq specializes in high-speed AI inference chips and supports Saudi’s Allam AI model.

Fifteenth, a San Francisco, CA-based tax solution company, raised $8.25M in Seed funding. The round was led by A* and General Catalyst with participation from SV Angel and angel investors including Swapnil Jain (Co-Founder and CEO of Observe.AI), Ryan Eisenman (co-founder and CEO at Arch), and Akash Garg (advisor at Electric Capital).

Zeta, a Bengaluru-based banking software provider, raised $50M from Optum at a $2B valuation, up 70% from 2021. Backed by SoftBank Vision Fund 2 and Mastercard, it serves 25M accounts, powering HDFC Bank’s PayZapp and U.S. fintechs like Sparrow Financial. The startup aims for profitability by 2026.

Questal, a NYC-based owner and operator of financial wellness service provider Questis, raised $3.2M in Seed funding. Backers included Ken Thompson, former CEO of TD Private Client Wealth LLC.

Planted, a Cologne, Germany-based GreenTech startup, raised €5M in funding. Backers included TechVision Fonds, WENVEST Capital, neoteq ventures, AWS Gründungsfonds and Smart Infrastructure Ventures, as well as angels Nina Kani, Felix Schürholz, Frank Piotraschke, Arno Nonnen and Julius Göllner.

Epicore Biosystems, a Cambridge, MA-based digital health solutions company developing advanced sweat-sensing wearables, raised $26M in Series B funding. The round was led by the Steele Foundation for Hope (SFFH).

Boostly, a Lehi, UT-based provider of automated SMS marketing and feedback solutions for restaurants, raised $22M in Series A funding. The round was led by PeakSpan Capital with participation from existing investors Y Combinator, Trestle Partners, and Singularity Capital. Matt Melymuka, Co-Founder and Managing Partner at PeakSpan Capital, will join Boostly’s board of directors.

ACT-ion, a Dallas, TX-based battery technology company, raised $7.5M in Pre-Series A funding. The round was led by BASF Venture Capital, with participation from Hunt Energy Enterprises, Mirae Asset Capital, Arosa Capital Management, and LG Technology Ventures.

Nirmata, a San Jose, CA-based cloud-native security policy automation and governance solutions company, raised $9.6M in funding. The round was led by Peak XV Surge, with participation from Dallas Venture Capital, Dreamit Ventures and existing investors Z5 Capital and Uncorrelated Ventures.

Neurocare Group, a Munich, Germany-based provider of a mental health platform, raised EUR 19.3M in funding. Backers included Impact Expansion and TVM Capital Healthcare.

Serene, a London, UK-based provider of an AI-powered platform developing a consumer vulnerability engine, raised £930K in pre-seed funding. The round was led by Fuel Ventures, with participation from NatWest Group, Oxford Seed Fund and a group of angel investors.

DevAI, a Palo Alto, CA-based company building agentic AI solutions for enterprise IT teams, raised $6M in Seed funding. The round was led by Emergence Capital, and included participation from Pear VC, Base10, and Benchstrength.

Edacious, a Marlborough, MA-based multi-disciplinary technology company which specializes in the relationship between agriculture and human health, raised $8.1M in Seed funding. The round was led by Patagonia’s Tin Shed Ventures, with participation from the Nest Family Office, Trailhead Capital, Grantham Environmental Trust’s Neglected Climate Opportunities, iSelect Capital, First Thirty, Pelican Ag, and other private investors.

Crowded, a Miami, FL-based provider of a fintech platform which specializes in financial management for nonprofit organizations, raised $7.5M in Series A funding. The round, which brought the total amount to $13.5M, was led by Flashpoint with participation from the Florida Opportunity Fund, Wilson’s Bird Capital led by Efi Shema, and existing investors Sarona Ventures and The Garage.

Greyson Clothiers, a Detroit, MI-based performance apparel brand for sport, raised $20M in Series A funding. The round was led by NewBound Ventures and Chris Koch, with participation from Tom Nolan, and David Chu, as well as ongoing support from existing investors.

Model ML, a globally located AI powered fintech startup, raised $12m in funding. The round was led by Y Combinator and LocalGlobe, with participation from angels.

NEW VCs IN THE MARKET

🏦 Venture Capital updates

Overlap Holdings, a NYC-based venture capital firm, closed its first fund, Overlap Holdings Flagship Fund 1 (OHF1), at $33m. OHF1 will invest in early-stage (Seed through Series B) startups building technologies at the intersection of scientific innovation and hardware. The firm invests in frontier tech sectors such as Energy, Life Science, Materials Science, Space, Robotics, and Semiconductors.

KEY STORIES IN TECH

📜 Latest in tech

Elon Musk-led team submits $97.4B bid for OpenAI:

• Elon Musk and a team of investors have submitted a $97.6 billion bid to acquire OpenAI, framing the move as an effort to return the company to its open-source, safety-focused roots.

• Musk’s AI company, xAI, is involved in the bid, fueling speculation that a merger could follow if successful, aligning with his vision for transparent AI development.

• OpenAI CEO Sam Altman dismissed the offer with a tongue-in-cheek X post, suggesting OpenAI would buy Twitter for $9.74 billion instead, highlighting the ongoing tensions between the two co-founders.

OpenAI spoke to government officials about its DeepSeek probe:

• OpenAI has discussed its investigation into DeepSeek with government officials, alleging that the Chinese AI company improperly used OpenAI’s API data to train its models.

• Critics accuse OpenAI of hypocrisy, as the company itself faces lawsuits from publishers for training on copyrighted content without permission.

• OpenAI’s Chris Lehane defended its approach, likening OpenAI’s training to learning from books, while claiming DeepSeek’s method is akin to repackaging and reselling someone else’s work.

Perplexity’s Super Bowl ‘tweet’ increased app installs by 50%:

• Instead of an expensive Super Bowl ad, Perplexity ran a contest on X, requiring users to download its app and ask five questions during the game for a chance to win $1 million.

• The strategy led to a 50% increase in app installs, with downloads reaching 45,000 on Sunday, up from a daily average of 30,000, and a rise in the App Store’s Top Charts rankings.

• While OpenAI and Google spent millions on Super Bowl ads with mixed reactions, Perplexity’s contest directly engaged users and demonstrated its AI search functionality.

OpenAI to finalize first custom chip design this year:

• OpenAI is finalizing the design of its first custom AI chip and plans to send it to Taiwan Semiconductor Manufacturing Co (TSMC) for production, aiming for mass production by 2026.

• This strategic move intends to reduce OpenAI's reliance on Nvidia and enhance its bargaining power with other chip suppliers, with plans for more advanced processors in the future.

• The chip will utilize TSMC's 3-nanometer process, featuring a systolic array architecture and high-bandwidth memory, and is expected to initially support OpenAI's internal AI model operations.

LAST COFFEE SIP

☕Other news

France unveils $112B AI investment:

• France plans to invest €109 billion in its artificial intelligence sector, with contributions from international investors and local companies, announced by President Emmanuel Macron ahead of the global AI summit.

• The investment includes significant contributions from the United Arab Emirates, which plans to build a one-gigawatt AI data center in France, and firms like Iliad and Orange are also participating.

• Industry leaders and policymakers, including EU President Ursula von der Leyen and Google CEO Sundar Pichai, are attending the AI Action Summit in Paris to discuss AI growth and strategic influence.

HIRING ALERT: STARTUPS & VC ROLES

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CURATED RESOURCES

🎁 Don’t miss - Curated Resources for Founders.

• Write Your Monthly Investor Update (Email Template Download).

• Excel Template: Early Stage Startup Financial Model For Fundraising

• 2700+ US Angel Investors & VC Firms Contact Database (Email + LinkedIn Link).

• 1000+ Euro Tech Angel Investors & VC Firms Database.

• 350+ Indian Angel Investors & Venture Capital Firms Contact Database (Email + LinkedIn Link).

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• 250+ Latin America VC Firms & Angel Investors Database

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