Why Media Should Let the Bots Feast — And Embrace the Future of News

Blocking AI tools won’t protect journalism — but working with them might. Here’s why the media should lean into the Bots Feast instead of fighting it.

The Media’s Battle Against the Bots Feast Is Already Lost

News publishers are racing to block AI systems from accessing their content. They’re adding barriers to their websites and launching lawsuits against tech companies accused of scraping content without permission. Cloudflare reports that content scraping has jumped 18% in the past year.

While some publishers are cutting deals with AI developers, others are still trying to shut them out. But these efforts are too late. The so-called invasion has already happened — and it’s reshaping the media world. Instead of resisting, it’s time to join the Bots Feast.

Old Models Are Breaking Down

Traditional paywalls are becoming less effective. They rely more on frustration than loyalty. Many readers subscribe to see one article, forget to cancel, or feel guilted into paying after using up free views. That model was always fragile — and now it’s being exposed by fast, intelligent tools that summarize information instantly.

People no longer want to click through ten websites to find the facts. They want a quick summary with context. AI models don’t need to steal your content — they just need to make it unnecessary. If users get a clear, accurate answer from a chatbot, they’re not going to visit multiple news sites. And if your site blocks bots, you’re essentially making your reporting invisible in the digital space where most people now search for answers.

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Startup Funding in Asia Drops Sharply in First Half of 2025, Led by China

Startup investment across Asia fell by nearly one-third in the first half of 2025, with fewer deals at every stage. China saw the biggest decline, while India and Israel showed some resilience.Startup Investment in Asia Hits Multi-Year Low
Startup funding across Asia dropped to $26.2 billion in the first half of 2025 — with $12.7 billion raised in Q1 and $13.5 billion in Q2. This marks a sharp decline of around 33% compared to the same period last year. The total number of startup deals also fell, with fewer investments seen across all stages.

China Leads the Decline, While India and Israel Show Strength

China recorded the largest drop in startup funding, with only $5.1 billion raised in Q2 — down 13% from Q1 and 34% year-over-year. The ongoing decline is linked to limited IPO and acquisition exits, increased government regulation, and a slower economy.

Despite the downturn, a few large deals stood out in China. These included a $207 million investment in AI chipmaker Biren Technology and $181 million in SAIC Mobility, the ride-hailing division of SAIC Motor.

India, Asia’s second-largest startup market, brought in $3.2 billion in Q2. While this was slightly higher than Q1, it was still below last year’s numbers. Logistics startups were popular, with significant investments going to GreenLine, which uses natural gas-powered trucks, and delivery service Porter.

Israel saw a strong rebound, raising $1.9 billion in Q2 — its highest in over two years. Cybersecurity and AI startups led the way, with Cato Networks securing $359 million and AI21 Labs raising $300 million.

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Investor Activity Surges in Q2 as Accel and General Catalyst Lead the Pack

Top investor firms ramped up deal-making in Q2 2025, with Accel and General Catalyst leading more funding rounds and capital flows increasing across the board.Q2 Sees Sharp Rise in Investor Activity
Investor participation in startup funding rounds increased significantly in the second quarter of 2025. Most of the top firms were involved in more deals and committed larger amounts of capital compared to the previous quarter.

Nine of the 10 most active investors did more deals in Q2 than in Q1. The same trend held for 80% of the top lead investors and many of the highest spenders. However, SoftBank, which made headlines in Q1 with its $40 billion investment in OpenAI, was notably absent from Q2’s top rankings.

Top Lead Investors: Accel and General Catalyst Take the Lead
Accel and General Catalyst stood out as the busiest lead investors in Q2. Accel led 20 deals, while General Catalyst followed with 16. Many of these investments were large-scale.

Accel led five rounds of $100 million or more, including a $500 million round for AI firm Perplexity and a $260 million Series C for space-tech company True Anomaly.

General Catalyst led eight deals worth over $100 million, with its largest being a $1 billion investment in Grammarly, an AI writing tool.

Other leading firms included Insight Partners, Andreessen Horowitz, and Bessemer Venture Partners, rounding out the top five lead investors for the quarter.

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iCapital Raises $820 Million, Reaches $7.5 Billion Valuation to Fuel Expansion and Acquisitions

iCapital’s latest funding round boosts its valuation as it looks to grow through acquisitions, global reach, and tech upgrades.iCapital, a financial technology platform focused on alternative investments, has secured over $820 million in new funding, pushing its valuation to more than $7.5 billion.

This marks a sharp rise from its $6 billion valuation in 2021, when it raised $50 million in a round led by WestCap. Since its founding in 2013, the New York-based company has now raised over $1.5 billion in total funding.

The latest round was co-led by SurgoCap Partners and accounts advised by T. Rowe Price Associates and T. Rowe Price Investment Management. Existing investors Temasek, UBS, and BNY also took part.

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Autotech Startup ServiceUp Secures $55M in Series B Funding

ServiceUp raises $55 million to modernize vehicle repair for fleets and insurers, with plans to expand and enhance its Autotech platform.Autotech startup ServiceUp has raised $55 million in Series B funding to expand its vehicle repair management platform. The round was led by PeakSpan Capital, with participation from existing investors Hearst Ventures, Trestle Partners, Capital Midwest Fund, and Litquidity Ventures.

Founded in 2021 and based in Los Gatos, California, ServiceUp has now raised nearly $70 million in total funding. While the company did not disclose its current valuation, it confirmed that it has significantly increased since its $14.5 million Series A round in 2022, which was led by Tiger Global Management.

ServiceUp was created to streamline and automate the outdated vehicle repair process, especially for fleet operators and insurance carriers. The company’s software centralizes key repair functions like vendor coordination, approvals, real-time tracking, billing, and analytics.

For businesses looking to fully outsource repairs, ServiceUp also offers ServiceUp 360, a managed solution that handles pickup, delivery, and the entire repair workflow.

Co-founder and CEO Brett Carlson said the traditional repair process was slow, manual, and often frustrating—leading to wasted time and money. ServiceUp’s Autotech platform aims to eliminate these issues by offering a scalable, all-in-one solution tailored for mechanical and collision repairs.

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MaintainX Hits $2.5B Valuation After $150M Series D Funding Round

The equipment maintenance platform more than doubles its valuation with a $150 million Series D, signaling strong investor confidence in AI-powered operations.MaintainX, a platform for equipment maintenance and asset management, has raised $150 million in a Series D funding round, pushing its valuation to $2.5 billion. This marks a significant jump from its previous $1 billion valuation following a $50 million Series C round in December 2023.

The San Francisco-based company has now raised a total of $254 million since its launch in 2018.

Investors in the Series D include Bessemer Venture Partners, Bain Capital Ventures, Amity Ventures, D.E. Shaw Ventures, and others. While it’s unclear if a single firm led the round, the broad participation shows growing interest in late-stage companies applying artificial intelligence in industrial sectors.

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Sequoia Leads Startup Investment Activity in June as Meta Tops Spending Charts

Sequoia stood out as the most active startup investor last month, while Meta claimed the highest-dollar investment with a $14.3 billion deal.Venture capital activity remained strong in June, with Sequoia emerging as the most active investor and Meta making headlines with the biggest investment.

Most of the top investors were familiar names, including Sequoia, Andreessen Horowitz, and Founders Fund. However, Meta joined the spotlight by leading one of the largest single investments of the year.

Sequoia Leads in Deal Volume

Sequoia ranked first among U.S. venture firms by number of deals. The firm completed 15 investments last month, including some of the largest rounds in the market. Notable deals included a $540 million Series E for cybersecurity startup Cyera and a $300 million Series E for legaltech company Harvey.

Other active investors included Y Combinator, which closed 14 deals, followed by Khosla Ventures and General Catalyst with 12 each.

Y Combinator, typically known for seed-stage investing, is increasingly active in later rounds. In June, it participated in a $125 million Series D for Gecko Robotics and an $80 million Series D for Canary Technologies.

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How to Keep Your Company Team Motivated After an Exit

After selling your company, maintaining team morale is key. Here’s how to balance what the buyer wants with what your employees need.When preparing your company for a sale, it’s not just about getting the best price. It’s also about making sure the business keeps running smoothly after the deal closes. Buyers aren’t just buying your products or profits—they’re investing in your team.

If your team loses motivation after the sale, it can quickly lower the value of the deal. This risk is real, but as the founder or CEO, it’s something you can manage.

Buyers Focus on Reducing Risk

Buyers often evaluate your company based on how well the team will perform after the transition. They see key employees as essential to the success of the acquisition. To protect their investment, they may delay equity payouts for executives and technical staff.

From the buyer’s side, this makes sense—it keeps the business steady. But for your team, it can feel unfair. The people who worked hardest might wait the longest to get paid, while others could walk away with their full share.

This mismatch can lead to tension.

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Elon Musk’s xAI Raises $10 Billion as AI Competition Grows

xAI secures $10 billion in new funding, combining debt and equity, to fuel its AI ambitions.Elon Musk’s AI startup, xAI, has raised $10 billion in a mix of debt and equity, according to a report from CNBC.

The funding includes a $5 billion strategic equity investment, arranged by Morgan Stanley. The rest came from term loans and secured notes.

This latest round follows xAI’s $6 billion Series C funding just over six months ago, which valued the company at $50 billion. Investors in that round included major firms like Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity, and Kingdom Holding Co. Another $6 billion was raised in a May 2024 Series B round, valuing the company at $24 billion.

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California Startup Funding Hits Record High in 2025

California continues to dominate the U.S. startup scene, drawing the majority of venture capital in the first half of 2025.For over 60 years, California has been the heart of the tech world. From semiconductors and personal computers to online search and artificial intelligence, the most influential tech companies have been born and grown in the state—especially in and around Silicon Valley.

This concentration of innovation creates a powerful network where talent, ideas, and funding collide. While it can drive up housing costs and traffic, it also fuels the creation of groundbreaking businesses and attracts major investment.

And the numbers show that California remains the top destination for startup capital. In the first half of 2025, about 68% of all U.S. startup funding went to companies based in California—a record-high share. Historically, California companies have received closer to 50% of national funding.

In dollar terms, California startups raised around $94.5 billion during this period, even more than the first half of 2021, when startup investment was at an all-time high.

One Huge Deal, But Not an Outlier

A major reason for this year’s surge is the massive $40 billion investment in OpenAI, announced in March. This deal alone represents over 40% of all California startup funding so far this year, making it the largest single startup investment round ever—four times bigger than any prior deal.

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Ultra-Unicorns Are Dominating Private Markets in 2025

Despite a slow funding climate for early-stage startups, ultra-unicorns—private companies valued at $5 billion or more—are expanding in size, influence, and investor appeal.

Ultra-Unicorns Are Redefining the Private Market Landscape

In 2025, a small but powerful group of startups known as ultra-unicorns—private companies valued at $5 billion or more—are becoming the dominant force in the market. While many startups face tough fundraising conditions, ultra-unicorns are growing rapidly in both value and deal flow.

This exclusive club represents only 13% of private unicorns by count, but holds more than half of the total valuation—$3.5 trillion out of $6 trillion. These companies also received half of the $1 trillion in total funding raised across the unicorn landscape.

Rapid Growth in 2025

So far in 2025, 17 new ultra-unicorns have joined the ranks. Notable additions include:

• Thinking Machines Lab – Raised a record-setting $2 billion seed round at a $10 billion valuation.
• Glean – An AI enterprise search company.
• Abridge – Specializes in AI-driven note-taking.
• Colossal Biosciences – Focused on genetic engineering.
• Shield AI, Harvey, Cyera, Groww, and Anysphere – Representing a wide range of industries, from defense tech to finance.

At the current pace, 2025 is set to surpass the 19 new ultra-unicorns added in 2024.

Funding Trends and Market Dynamics

Funding to ultra-unicorns peaked in 2021 at $102 billion, dropped to $41 billion in 2022, and has rebounded to nearly $79 billion so far this year.

However, two companies dominate 2025’s funding totals:

• OpenAI: $40 billion led by SoftBank
• Scale AI: $14.3 billion from Meta

These two investments account for 73% of this year’s total ultra-unicorn funding.

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How to Secure Debt Financing in a Challenging Market: 5 Proven Tips for CFOs

With capital harder to access and lenders more selective, business leaders must act strategically. These five tips will help you navigate a challenging market and improve your chances of securing financing.In Today’s Challenging Market, Preparation Is Everything

While many lenders still claim to be actively lending, the reality tells a more complicated story. Private credit loan volumes may be up, but those dollars are going to fewer companies — mostly top performers.

According to a recent analysis from Hamilton Lane, there’s a $1.4 trillion gap between available private equity capital and credit origination capital. Combine that with over $600 billion in maturing loans through 2028, and businesses are facing a $2 trillion funding shortfall in a challenging market. This means lenders are now far more selective than in past years.

So, what does that mean for companies not on the Fortune 500 list? There’s still a path to debt financing — but only if you’re well-prepared. Here are five key tips for CFOs looking to secure funding in today’s tight credit environment.

1. Start When You Don’t Need the Money

One of the biggest mistakes companies make in a challenging market is waiting too long. The best time to secure debt is when your business is performing well and doesn’t urgently need it. Lenders are more comfortable working with companies that are growing steadily and have financial runway.

If you’ve recently added a strong equity partner, are showing consistent growth, or are planning an acquisition — start the debt process now. Waiting until you’re under pressure limits your options and weakens your negotiating position.

2. Pick the Right Lender

Debt is a long-term relationship. Picking the wrong lender can cost you both time and money. Make sure your lender is a good fit by:

• Checking References: Talk to other companies they’ve financed recently.
• Understanding Their Goals: Can they support your business over the next five years?
• Working with an Adviser: A knowledgeable adviser can help identify lenders aligned with your growth plan — and steer you away from dead ends.

In a challenging market, the right lender relationship can make all the difference.

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Gaming Startup Funding Drops Sharply in 2025

Despite strong industry demand and major acquisitions, 2025 is on track to be the weakest year for gaming startup investment.2025 is proving to be a tough year for the gaming startup sector. So far, global venture funding for companies in the gaming space has reached only around $627 million. If this trend continues, it could mark the lowest annual total in years.

Funding has been steadily declining over recent quarters. As the second quarter wraps up, it looks like this may be the weakest period for gaming startup investment in a long time.

Strong Demand, Weak Funding

Despite the drop in funding, the gaming industry remains strong in terms of user engagement and spending. In 2024, over 190 million Americans played video games, and total spending on games, consoles, and accessories topped $57 billion.

Publicly traded gaming giants are also thriving. Companies like Roblox, Nintendo, and Take-Two Interactive have seen their stock prices rise in 2025, showing continued market interest and confidence in the industry.

Major Acquisitions Continue

The merger and acquisition space tells a more positive story. In March, Scopely acquired Niantic’s gaming division—the studio behind Pokémon GO—for $3.5 billion. In May, CVC Capital Partners made a $2.5 billion investment in Turkey’s Dream Games, the maker of Royal Match and Royal Kingdom. The deal involved both debt and equity, and existing venture investors exited the company.

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What Should a VC Focus On: The Founder or the Business?

Leading VCs debate whether people or ideas matter more—research shows success may depend on both.One of the most important questions in venture capital is this: Should a VC invest based on the founder (the “jockey”) or the business idea (the “horse”)?

This debate has been around since the early days of venture investing. Some of the most respected early VCs had different views. Tom Perkins of Kleiner Perkins focused on technology. Don Valentine of Sequoia Capital prioritized markets. Arthur Rock of Davis & Rock believed the team was everything.

Today, most VCs lean heavily toward a founder-first approach. In fact, 53% of early-stage VCs say the team is their top consideration, while only 10% point to the business model, and just 6% emphasize market opportunity.

On the surface, this focus makes sense. High-profile founders like Elon Musk and Mark Zuckerberg have shown how much impact a strong founder can make. That’s why many firms now say “venture is a game of jockeys, not horses.” As a result, VCs often chase charismatic founders with impressive backgrounds.

But there’s a problem: research shows this strategy doesn’t always work.

Why Founder-First Can Go Wrong

Studies tracking startups from the beginning through IPO show that the quality of the business—not just the founder—better predicts success. In fact, many VCs make consistently poor decisions by placing too much weight on founder traits.

This often leads to pattern-matching. Instead of digging into the substance of a startup, some investors focus on surface-level qualities like the founder’s education or past jobs. They look for people who remind them of previous success stories, rather than seeking out fresh, unconventional talent.

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How AI Is Transforming Wall Street and Creating High-Value Bankers

AI is reshaping investment banking, boosting productivity, and raising the stakes for top financial talent.Wall Street is being transformed, and it’s not about cutting jobs — it’s about AI making top bankers even more valuable. With smarter tools and faster workflows, AI is changing how deals are made and who’s winning them.

AI Is Supercharging Banker Productivity

AI is giving investment bankers a major performance boost. By 2026, AI-powered bankers could each bring in an extra $3.5 million in revenue, according to some forecasts. This isn’t just about working faster — it’s about doing higher-value work with better tools.

As AI tools become more common in front-office roles, banks are seeing big gains in efficiency. Those who adopt early are already pulling ahead, creating a gap between tech-savvy bankers and those still using outdated processes.

A New Talent Race on Wall Street

The competition for bankers who understand and use AI is heating up. Financial firms are updating how they hire, train, and reward their teams. Bonuses are increasingly tied to results generated with help from AI tools, pushing firms to rethink their compensation strategies.

This shift is creating a new kind of financial professional — one who combines dealmaking skills with a strong grasp of technology.

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VC Interest in Sleep Startups Remains Strong

Startups focused on sleep health and technology continue to attract VC funding, tackling a widespread and growing problem.Getting enough quality sleep isn’t just about feeling rested — it’s closely linked to happiness, productivity, and overall well-being. According to the National Sleep Foundation, adults with poor sleep health are four times more likely to be unhappy. Yet, over half of Americans don’t sleep enough.

This widespread issue hasn’t gone unnoticed by startups — or by VCs. In recent years, hundreds of millions of dollars in venture capital have flowed into companies focused on sleep-related products and treatments. These startups aim to improve sleep through better technology, therapeutic solutions, and wellness innovations.

Sleep as a Wellness Priority

Many of the top-funded sleep startups are part of the broader wellness movement. Investors recognize that sleep is a core part of health, and good sleep is essential for fitness, mental clarity, and disease prevention.

One of the most notable players is Oura, known for its biometric-tracking wearable ring. With $348 million raised — including a $200 million Series D — Oura helps users monitor sleep stages and oxygen levels, generating a personalized “Sleep Score.”

The Sleep Co., based in Mumbai, has raised $43 million for products like orthopedic mattresses that promote cooler, more supportive sleep. In Boston, Embr Labs has attracted over $16 million for a wearable that regulates body temperature, offering relief from heat disruptions like hot flashes.

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Abridge Raises $300M to Help Doctors Cut Down on Paperwork

Abridge’s note-taking technology is gaining momentum as healthcare looks for solutions to reduce physician burnout.Abridge Secures $300 Million to Ease Doctor Workloads
Abridge, a healthcare startup focused on reducing paperwork for doctors, has raised $300 million in new funding. The company is now valued at $5.3 billion, according to The Wall Street Journal.

The Series E round was led by Andreessen Horowitz, with support from Khosla Ventures. Abridge, based in Pittsburgh and San Francisco, has now raised a total of $757.5 million.

Abridge Helps Doctors Save Time on Notes
Abridge’s core product helps doctors by automatically transcribing conversations with patients. This tool reduces the time physicians spend after hours completing notes and other administrative work.

CEO and co-founder Dr. Shiv Rao says healthcare is adopting this type of technology faster than any other industry. Abridge’s system listens in on patient visits and creates detailed notes in real time, allowing doctors to focus more on care and less on paperwork.

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The Rise of the Super Banker: How AI Is Transforming Financial Services

AI is changing the face of finance, helping top bankers become more productive, better paid, and more in demand than ever before.AI Is Boosting the Value of the Modern Banker
Artificial intelligence is changing the game on Wall Street—not by replacing jobs, but by making the best bankers more powerful than ever. AI is driving a major boost in productivity, helping high-performing bankers close deals faster and more efficiently. Estimates suggest that by 2026, a banker using AI could bring in an extra $3.5 million in revenue annually.

This shift is not just about working faster. It’s reshaping the definition of what it means to be a top banker today. Those who quickly learn to use AI tools are pulling ahead, gaining a real edge over peers. The gap is widening between bankers who embrace these tools and those who don’t.

Competition for AI-Savvy Bankers Is Heating Up
Banks are now in a race to find and reward the most tech-skilled talent. Compensation models are changing to reflect the value that AI-powered bankers bring. Bonuses are increasingly tied to results generated through AI tools, meaning pay is being aligned with output in a more direct way than ever before.

Banks are also rethinking how they manage talent. They’re not just looking for traditional skills—they want professionals who can combine financial expertise with a solid understanding of AI-driven insights.

Fast-Moving Firms Are Leading the Charge
Some forward-thinking banks are adopting AI twice as fast as others. These firms are gaining a clear advantage in areas like sourcing deals, generating content, and executing transactions. They’re using AI to streamline work, improve decision-making, and move more quickly than traditional firms.

This isn’t just about saving time. It’s about winning more deals and capturing more market share. Banks using AI effectively are breaking ahead, forcing others to keep up—or risk falling behind.

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Why Lead Edge Capital Sees Big Potential in Secondary Markets

Lead Edge Capital shares its investment strategy and explains why it’s focused on secondary markets while holding back on AI investments—for now.Lead Edge Capital, a growth investment firm based in Santa Barbara and New York, focuses on private software and tech-enabled companies. Its strategy includes direct investments, buyouts, and deals in secondary markets, adjusting based on market shifts.

A Changing Investment Landscape

Over the last decade, private equity investment in venture-backed startups has grown, with a surge in capital deployment in 2021. Even as the market cooled, growth firms like Lead Edge continued to lead large funding rounds and provide returns through secondary markets and acquisitions.

Venture capital firms have also evolved, with many now investing in crypto, public markets, and secondaries. These changes reflect a broader shift in how investors seek liquidity and long-term gains.

Why Secondary Markets Matter

Partner Brian Neider, who joined Lead Edge in 2012, sees growing interest in secondary markets as a solution to misaligned investor expectations. In cases where early and late-stage investors disagree on a company’s future, secondary sales can provide a middle ground.

“If someone bought in at a $3 billion valuation in 2021, they’re unlikely to sell at a lower price now. But earlier investors may want to exit,” Neider explained. Secondary markets allow these differences to be resolved without stalling company progress.

There’s also an increase in limited partners selling fund stakes, and more buyers are entering the market. According to Neider, the turbulence from 2020 to 2022 left a lot of unfinished business. “That’s why secondary markets are seeing so much activity,” he said.

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Founders Can Sell a Share of Their Equity Without Stepping Away

Secondary share sales offer startup founders a way to gain some liquidity without leaving their company or waiting for an IPO.Starting a company is exciting, but it’s also a long and uncertain journey. Founders often spend years building a business, taking on personal and financial risks—usually without seeing financial returns unless the company is sold or goes public.

But big exits are taking longer. IPOs are rare. Acquisitions can take more than a decade. Meanwhile, life doesn’t pause—mortgages, family expenses, and day-to-day costs continue, and founder salaries are often below market rates.

That’s why more founders are now exploring secondary share sales. These allow founders to sell a share of their personal stock before a full exit. It usually happens alongside a new funding round and can give founders some financial relief without stepping away from their role.

Why Secondary Share Sales Make Sense

Selling a share of personal equity doesn’t mean a founder is giving up. It’s a way to access part of the value they’ve built while staying focused on growing the company. It reduces financial pressure and allows them to continue leading with clarity and motivation.

When done right, a secondary sale is a smart move that supports both personal and business goals. But there are risks and rules to consider.

What Founders Should Know

Founders usually can’t sell shares freely. Legal agreements often include rules that limit when and how a share can be sold. Board approval is typically required, and investors may have rights to buy those shares first.

Buyers—whether new or existing investors—will also want detailed information about the company. Founders need to be careful not to disclose confidential details that could create legal or competitive issues.

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Thinking Machines Secures $2B Seed Round in Historic Funding Milestone

AI startup Thinking Machines raises a record-breaking $2 billion in seed funding at a $10 billion valuation—setting a new benchmark in early-stage investments.Thinking Machines has officially raised the largest seed funding round in history—$2 billion—marking a major moment in the world of artificial intelligence and startup financing.

Led by former OpenAI CTO Mira Murati, Thinking Machines is based in San Francisco and backed by a powerhouse team with experience from top AI firms including Meta, Google, OpenAI, and Mistral AI. The recent $2 billion funding, led by Andreessen Horowitz, values the company at $10 billion—an extraordinary figure for a seed-stage venture.

This round isn’t just large—it’s unprecedented. Previous high-profile seed investments in the U.S. have ranged from $200 million to $450 million, including:

• Yuga Labs raised $450 million in 2022, known for the Bored Ape Yacht Club NFTs.
• Lila Sciences, focused on AI-driven lab automation, secured $200 million in a Flagship Pioneering-backed round.
• US, a crypto platform, closed over $200 million at a $4.5 billion valuation.
• Chestnut Carbon obtained $200 million for its carbon credit projects in forestry.
• Aptos Labs, specializing in blockchain and Web3, raised $200 million in a seed round also led by Andreessen Horowitz.

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AI Is Changing More Than News—It’s Set to Transform Legal Services

As AI becomes a trusted source for information, it’s quickly evolving into a tool people may use to find and interact with lawyers and other professionals.A growing number of people—especially younger generations—are turning to AI tools not just for entertainment or tech updates, but for their news. According to a recent global survey, nearly 15% of Gen Z already gets daily news from tools like ChatGPT.

This shift signals more than just a change in how people consume headlines. It shows that AI is becoming a trusted source for answers. And that trust is about to reshape how people access professional services—starting with legal help.

From Search Engines to Answer Engines

Instead of using traditional search engines, more users now turn to AI assistants to ask direct, complex questions. This growing habit shows a shift in how people seek advice. A 22-year-old who gets in a car accident might skip Google entirely and type a natural question into an AI app:
“What should I do if the other driver doesn’t have insurance in Florida?”

They’re not looking for legal jargon. They want clear steps, helpful answers, and fast solutions. If the AI provides that, it becomes the first step in their legal journey.

AI as the New Front Door for Law Firms

When AI delivers answers clearly, it becomes a powerful tool for connecting users to the right services. A chatbot can suggest a law firm, link to a contact form, or even schedule a consultation—streamlining the process from question to action.

This represents a major change for the legal industry, which has traditionally relied on referrals, SEO, and local ads. AI tools don’t follow those rules. They surface answers based on how well firms structure and present their information in formats that AI can process.

Some law firms are adapting by building their own chatbots trained on legal FAQs and jurisdiction-specific information. Others are embedding AI-driven tools into their websites to improve client intake and offer faster, clearer guidance.

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Active Capital Launches $28M Fund to Back Early-Stage AI Startups

The Texas-based venture firm continues to bet on AI and cloud infrastructure startups at the pre-seed stage, despite a cooling funding climate.Active Capital, a venture firm based in San Antonio, has closed a new $28 million fund to support early-stage startups focused on AI and cloud infrastructure. This marks the firm’s third fund, bringing its total assets under management to over $100 million.

Founded by Pat Matthews, an experienced entrepreneur who previously sold Webmail.us to Rackspace for $50 million, Active Capital targets the pre-seed stage. Matthews believes early capital is best provided by those who have built companies themselves, and he operates on the idea that founders value backing from peers who’ve shared similar journeys.

So far, Active Capital has invested in over 50 startups across the U.S., including ProsperOps, Teleport, Super Dispatch, ConductorOne, and Schematic. Some of these companies have been acquired, such as RemoteTeam (by Gusto) and VidGrid (by Paylocity). The firm typically leads or co-leads rounds between $500,000 and $3 million, writing checks of $500,000 to $1 million.

The latest fund arrives during a slowdown in pre-seed funding, which has dropped significantly compared to the previous year. Despite this, Matthews says the early stage remains the most critical and rewarding part of a company’s journey — where the foundation and culture are built.

According to Matthews, there’s a strong opportunity in pre-seed investing, especially for AI startups beyond major tech hubs. He’s seen firsthand how some companies raise only once at this stage and go on to thrive independently.

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Nabla Raises $70M to Expand Clinical Tools for Healthcare Professionals

The Paris-based company plans to grow its AI-powered platform to support doctors, nurses, and medical teams more effectively.Nabla, a health technology company creating digital assistants for medical professionals, has raised $70 million in Series C funding. The round was led by Germany’s HV Capital, with support from Highland Europe, DST Global, Cathay Innovation, and Build Collective, founded by Tony Fadell.

Since its founding in 2018, Nabla has raised a total of $120 million. The company, based in Paris with an office in New York, did not share its latest valuation but was estimated to be worth around $180 million during its last funding round in early 2024.

What Nabla Does

Nabla builds tools that help doctors and healthcare workers save time on paperwork. Its main product is a digital assistant that automatically writes notes and medical reports. This tool is already in use across more than 130 healthcare organizations and serves over 85,000 clinicians.

According to Nabla, its assistant helps reduce the time spent on clinical documentation by more than 50%. The company says this leads to lower burnout among healthcare workers and improves patient satisfaction.

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Multiplier is a leading global employment platform that manages employment, payroll & compliance for International Teams. Multiplier makes it easy to hire, onboard, manage, and pay employees and contractors around the world. We offer end-to-end global employee management – All in one place!

Nuclear Energy Startup Backed by Bill Gates Raises $650M From Nvidia, HD Hyundai, and Others

TerraPower’s latest funding round boosts its efforts to build next-generation nuclear energy solutions as demand surges from AI and data centers.TerraPower, the nuclear energy company founded by Bill Gates, has secured $650 million in fresh funding. The investment comes from Nvidia’s venture arm, HD Hyundai, and other existing backers, underscoring growing interest in nuclear energy as industries seek cleaner and more reliable power sources.

Based in Bellevue, Washington, TerraPower has now raised a total of $1.4 billion. The company is currently building a 345-megawatt nuclear power plant in Kemmerer, Wyoming, on the site of a former coal plant. Regulatory approval for the project is expected next year.

Founded in 2006 by Gates and other climate-conscious investors, TerraPower is advancing nuclear energy technology to help meet the rising power needs of modern infrastructure—especially those driven by artificial intelligence and high-performance computing.

“As AI continues to grow, nuclear energy will play a critical role in supporting the infrastructure behind it,” said Mohamed “Sid” Siddeek, vice president at NVentures, Nvidia’s investment arm. “TerraPower’s reactor designs provide a clean, sustainable solution for global energy challenges.”

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Multiplier is a leading global employment platform that manages employment, payroll & compliance for International Teams. Multiplier makes it easy to hire, onboard, manage, and pay employees and contractors around the world. We offer end-to-end global employee management – All in one place!

When Strategic Warrants Turn Into Roadblocks

Three Important Lessons for Founders Navigating Strategic Partnership DealsDaniel, the CEO of a SaaS startup focused on ESG compliance automation, had just landed the biggest deal of his company’s life. After years of effort, a major global player agreed to a commercial partnership. The agreement included a side letter giving the partner a warrant — a right to future equity based on the value they would help generate. It also required a 90-day advance notice before any acquisition or new funding round.

It wasn’t a Right of First Refusal (ROFR), just a notice clause. At the time, it seemed like a small price for growth. But two years later, that clause became a serious obstacle.

Here are three critical lessons for founders:

1. Long Notice Periods Can Scare Off Buyers

Daniel’s early investors were looking for an exit after five years. Several potential acquirers showed interest — until they saw the 90-day notice requirement. Although it wasn’t a ROFR, buyers didn’t want to commit and then wait three months while another party had early access to their offer.

Worse, the clause didn’t clearly define when the 90 days began. Was it after a verbal agreement, a board vote, or a signed letter of intent (LOI)? This uncertainty alone made the company less attractive.

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Unicorn Buildup: A Decade of Growth with Fewer Exits

How a Decade of Startup Growth Has Led to a Massive Private-Market BuildupOver the past 10 years, the number of unicorn startups — private companies valued at $1 billion or more — has surged. What started slowly in the early 2010s exploded in 2021, when valuations soared and startups hit the billion-dollar mark at a record pace. That year alone saw the number of unicorns triple compared to the previous year.

However, while unicorn creation skyrocketed, exits haven’t kept up. Today, the unicorn board includes nearly 1,600 companies worth a combined $6 trillion. Most haven’t raised new funding at a disclosed valuation in more than three years, highlighting a growing buildup of private companies waiting for a liquidity event.

2020 and Earlier: Strongest Exit Record

Startups that became unicorns before 2021 account for a major portion of the board’s value. These companies had more time to mature and take advantage of favorable market conditions in 2021, when many went public.

Of the 953 unicorns formed before 2021, around 46% have exited. Public offerings were three times more common than mergers or acquisitions. Still, over 470 unicorns from this period remain private, but they represent more than half of the board’s current value — roughly $3.2 trillion.

These include some of the most valuable startups in the world, such as SpaceX, Stripe, ByteDance, Shein, Databricks, and OpenAI. While OpenAI is nearing its 10-year mark with a $60 billion valuation, SpaceX has been growing for 25 years and remains one of the top-valued companies.

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Multiplier is a leading global employment platform that manages employment, payroll & compliance for International Teams. Multiplier makes it easy to hire, onboard, manage, and pay employees and contractors around the world. We offer end-to-end global employee management – All in one place!

Fintech Startup Ramp Reportedly Raising $200M at $16B Valuation

Fintech company Ramp is reportedly in talks to raise $200 million in new funding, which would boost its valuation to around $16 billion.

Major Investors Backing Ramp

The funding round is expected to be led by Founders Fund, an early investor in the company. Other existing backers like Sands Capital and Khosla Ventures are also likely to participate.

Based in New York, Ramp has grown rapidly since its launch in 2019. Originally offering a corporate card, the fintech startup has expanded into areas like travel management, bill payments, and a new treasury product. As of January, Ramp had reportedly reached $700 million in annualized revenue.

Rapid Valuation Growth

This new round comes just months after Ramp completed a $150 million secondary share sale in March, which nearly doubled its valuation to $13 billion. If the $16 billion valuation is confirmed, it would represent another significant leap in a short period.

Ramp has so far raised $1.2 billion in equity and secured $700 million in debt funding. Its list of investors includes General Catalyst, Stripe, Citi, and Sequoia Capital.

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Multiplier is a leading global employment platform that manages employment, payroll & compliance for International Teams. Multiplier makes it easy to hire, onboard, manage, and pay employees and contractors around the world. We offer end-to-end global employee management – All in one place!

AI Autonomous Agents Lead 2025 Seed Investment Trends

AI startups focused on autonomous agents are attracting major seed-stage funding in 2025. Investor interest is surging as these tools move beyond support roles to handle real tasks, especially in the workplace.Earlier this week, we explored general seed investment trends. However, the sheer volume of funding for AI agents and assistants deserves a closer look.

Surge in Seed Funding for AI Agents

Startups building AI-driven agents, assistants, and companions—particularly for enterprise use—have drawn nearly $700 million in seed funding so far this year. These startups aim to build software that not only supports work but actually performs it.

Terrence Rohan, managing director at Otherwise Fund and a former Figma board member, said this trend represents a shift from traditional software tools to applications that can take over tasks. “It’s the next evolution of doing work,” he said.

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Multiplier is a leading global employment platform that manages employment, payroll & compliance for International Teams. Multiplier makes it easy to hire, onboard, manage, and pay employees and contractors around the world. We offer end-to-end global employee management – All in one place!

PostHog Raises $70M in Series D Led by Stripe After a Simple Tweet

PostHog, a developer-focused platform for customer data and product analytics, has raised $70 million in a Series D funding round. The round was led by payments giant Stripe, pushing PostHog’s valuation to $920 million.Other investors included Y Combinator, GV, and Formus Capital. This latest raise brings PostHog’s total funding to $107 million since its launch in 2020.

From Analytics Tool to All-in-One Developer Platform

PostHog started as a simple product analytics tool. Today, it’s evolved into a complete platform designed to give companies full control over customer data. Its open-source model lets developers access and manage data without relying on third-party integrations.

Co-founders James Hawkins and Tim Glaser launched PostHog during Y Combinator’s Winter 2020 batch. For the first 18 months, they focused solely on building open-source tools before shifting toward revenue.

Now, the platform offers 14 integrated tools that help product and engineering teams better understand and support their users. Hawkins refers to this as providing “customer infrastructure” — meaning all customer-related tools are built into one unified system.

A Tweet That Sparked a Deal

What makes this funding round unique isn’t just the amount — it’s how it started.

In November 2023, Stripe CEO Patrick Collison unexpectedly tweeted praise about PostHog’s website. That tweet opened the door for a meeting between the teams. According to Hawkins, the conversation quickly turned into something more.

Stripe later confirmed its investment, although it declined to share further details.

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Multiplier is a leading global employment platform that manages employment, payroll & compliance for International Teams. Multiplier makes it easy to hire, onboard, manage, and pay employees and contractors around the world. We offer end-to-end global employee management – All in one place!