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Gecko Robotics raises $125 million in deal valuing critical infrastructure startup over $1 billion

cnbc.com Ian Thomas 2025-09-17 03:57:08

Gecko Robotics announced on Thursday that it raised $125 million in a Series D funding round, raising the AI and robotics company's valuation to $1.25 billion. The new round of funding means the Pittsburgh-based company has reached unicorn status, roughly twelve years after it was founded by Jake Loosararian. The company's previous round of funding, a $173 million Series C in December 2023, valued it at $633 million. To date, the company has raised $347 million from investors including USIT, X

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U.S. online stores put 'out of stock' signs as Nintendo Switch 2 sales hit record highs

cnbc.com Dylan Butts 2025-09-16 13:51:20

Nintendo Switch 2 controllers are displayed during at the Nintendo New York store on June 4, 2025, for a launch event ahead of the video game hybrid console's midnight release. Nintendo sold more than 3.5 million units of its flagship Switch 2 gaming system in the four days following its launch, with online stores of major U.S. retailers putting up "out of stock" signs. The record-breaking start for the company's first new console in eight years, puts Nintendo on the path to realizing its aim

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Nintendo sells 3.5M Switch 2 consoles in four days

venturebeat.com Dean Takahashi 2025-09-17 06:17:00

Nintendo of America announced that the Nintendo Switch 2 has sold over 3.5 million units worldwide in its first four days, becoming the fastest-selling Nintendo hardware ever globally. The new system went on sales on June 5 around the world, with fans lined up at midnight sales in a number of places. The Kyoto, Japan-based company said it hopes to sell 15 million Switch 2 consoles in its first year, on a pace to exceed growth of the original Switch. That’s a pretty good sales rate, despite an

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Nintendo sets record with 3.5 million Switch 2 units sold in four days

engadget.com Unknown 2025-09-16 20:00:50

Nintendo has sold 3.5 million Switch 2s in four days, setting a company record for a new console launch. That puts Nintendo on track toward its goal to sell 15 million units by March 2026 if it can keep up on the production side. By comparison, it took the original Switch nearly a full month to hit 2.7 million units sold, even though it launched at a considerably lower price ($300 compared to $450 for the Switch 2). To get a hold of one, fans entered lotteries to buy consoles directly from Nint

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I managed to buy a Nintendo Switch 2 - and it's easy to see why it's flying off shelves

zdnet.com Kerry Wan 2025-09-17 03:43:00

Kerry Wan/ZDNET While the Nintendo Switch 2 launched only a week ago, it's already set the record for being the fastest-selling Nintendo console ever. Today, the company shared that the latest 2-in-1 gaming system sold over 3.5 million units worldwide in its first four days. For reference, the original Nintendo Switch sold 2.74 million units in its first month, while Sony sold 4.4 million units of the PlayStation 5 in seven weeks, according to Daniel Ahmad, director of research and insights at

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With the launch of o3-pro, let’s talk about what AI “reasoning” actually does

arstechnica.com Unknown 2025-09-16 23:58:43

On Tuesday, OpenAI announced that o3-pro, a new version of its most capable simulated reasoning model, is now available to ChatGPT Pro and Team users, replacing o1-pro in the model picker. The company also reduced API pricing for o3-pro by 87 percent compared to o1-pro while cutting o3 prices by 80 percent. While "reasoning" is useful for some analytical tasks, new studies have posed fundamental questions about what the word actually means when applied to these AI systems. We'll take a deeper l

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Musk’s threat to sue firms that don’t buy ads on X seems to have paid off

arstechnica.com Unknown 2025-09-17 01:00:48

Elon Musk's strategy of suing or threatening to sue companies that don't buy advertising on X has reportedly paid off in at least a few cases. A Wall Street Journal report yesterday said that Verizon and other companies started advertising on X after lawsuit threats. X sued some advertisers last year over what it claims is an illegal boycott and reportedly threatened to add other companies to the lawsuit if they didn't buy ads. The WSJ article said that Verizon, which hadn't advertised on X sin

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Jewel Burks Solomon’s Collab Capital has closed a new $75M fund

techcrunch.com Dominic-Madori Davis 2025-09-16 23:30:00

Collab Capital announced today the close of a $75 million Fund II. Jewel Burks Solomon, who rose to prominence in Silicon Valley during her years running Google for Startups US, has just closed her second fund for her VC firm Collab Capital. Fund II is $75 million and includes heavyweight limited partners like Apple, Goldman Sachs Asset Management, and The Leon Levine Foundation. Solomon co-founded the firm alongside Barry Givens in 2020 with an inaugural $50 million Fund I and invested in 38

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Fervo Energy lands $206M in financing to build massive geothermal power plant

techcrunch.com Tim De Chant 2025-09-17 02:31:35

Geothermal frontrunner Fervo Energy said Wednesday that it had secured $206 million in financing to continue work on a new power plant in Utah. The startup is developing what promises to be the largest enhanced geothermal power plant in the world. The initial phase of Cape Station is expected to come online next year and produce 100 megawatts of electricity, and a subsequent expansion set to open in 2028 will add another 400 megawatts. Enhanced geothermal, which runs deeper and hotter than tra

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Sam Altman-backed Coco Robotics raises $80M

techcrunch.com Rebecca Szkutak 2025-09-17 03:40:15

In Brief Los Angeles-based Coco Robotics, a startup building last-mile delivery robots, announced it raised $80 million on Wednesday. The funding round included angel investors Sam Altman and Max Altman, both returning investors, in addition to VC firms like Pelion Venture Partners and Offline Ventures, among others. This brings the company’s total funding to more than $120 million. The company last raised a $36 million Series A round in 2021. Coco’s zero-emissions robots can hold 90 liters’

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Bybit loses $1.5B in hack but can cover loss, CEO confirms

news.ycombinator.com Unknown 2025-06-01 19:15:03

Cryptocurrency exchange Bybit has experienced $1.46 billion worth of "suspicious outflows," according to blockchain sleuth ZachXBT. The wallet in question appears to have sent 401,346 ETH ($1.1 billion) as well as several other iterations of staked ether (stETH) to a fresh wallet, which is now liquidating mETH and stETH on decentralized exchanges, etherscan shows. The wallet has sold around $200 million worth of stETH so far. Bybit CEO Ben Zhou wrote on X that a hacker "took control of the spe

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This New Drug Could Help End the HIV Epidemic—but US Funding Cuts Are Killing Its Rollout

wired.com David Cox 2025-06-01 21:26:30

After a lifetime on the frontiers of the fight against HIV, Linda-Gail Bekker could finally see the end of the epidemic in sight. For decades, HIV experts had dreamed of an elusive vaccine to block the ongoing chain of infections, which still sees more than 1 million people worldwide contract the virus annually. Bekker, a 62-year-old medical professor from the University of Cape Town, had helped identify a drug that could do just that. But now, thanks to the Trump administration’s executive ord

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Bybit CEO Confirms Exchange Was Hacked for $1.46B

news.ycombinator.com Unknown 2025-06-02 00:15:03

Cryptocurrency exchange Bybit has experienced $1.46 billion worth of "suspicious outflows," according to blockchain sleuth ZachXBT. The wallet in question appears to have sent 401,346 ETH ($1.1 billion) as well as several other iterations of staked ether (stETH) to a fresh wallet, which is now liquidating mETH and stETH on decentralized exchanges, etherscan shows. The wallet has sold around $200 million worth of stETH so far. Bybit CEO Ben Zhou wrote on X that a hacker "took control of the spe

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Five of the most important fintech VCs investing heavily in the sector

techcrunch.com Mary Ann Azevedo 2025-06-01 23:30:00

Global investing in fintech startups is starting to see an uptick. Just this week, KPMG issued its Pulse of Fintech report for the second half of 2024. In the fourth quarter of 2024, investment climbed to $25.9 billion from $18 billion in the third quarter, according to KPMG. Granted, this is not the enthusiasm of years past, especially the wild days of 2021. But judging by our inboxes, there is no shortage of venture capitalists still betting big on the space. Below is a list of just a few VC

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Augury and Hightouch joined the unicorn club

techcrunch.com Anna Heim 2025-06-02 01:05:00

Welcome to Startups Weekly — your weekly recap of everything you can’t miss from the world of startups. Want it in your inbox every Friday? Sign up here. Startup life is a story of births and deaths. This week confirmed this, and it confirmed that unicorn rounds are not dead. Most interesting startup stories from the week Image Credits:Natalie Christman / Humane As happens often in the startup world, it’s been a week of beginnings and endings. Thinking machines: Thinking Machines Lab, the n

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61 US startups became unicorns in 2024: Here’s the full list

techcrunch.com Dominic-Madori Davis 2025-06-01 14:55:22

Despite the tight venture capital market, unicorns are still being created every month. Using data from Crunchbase, CB Insights, and PitchBook, TechCrunch tracked down the newly minted unicorns so far this year. The list includes Elon Musk’s xAI, which is already valued at a staggering $24 billion, as well as a good number of other AI startups. But cybersecurity, health tech, and fintech have also done well. This list will be updated throughout the year, so check back and see the powerhouses ra

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Pre-seed firm Afore Capital has a fresh $185M fund and a new program to help founders discover ideas

techcrunch.com Marina Temkin 2025-06-01 20:00:00

Afore Capital, a firm that claims to be the largest dedicated pre-seed investor, was founded on the idea that the first check into a new startup should be larger than what most accelerators and early-stage investors were offering. When Afore raised its third $150 million fund in 2022, the firm wrote checks ranging from $1 million to $2 million, which general partners Anamitra Banerji and Gaurav Jain argued helped companies grow faster. The firm’s strategy worked. Today, its 200-company portfoli

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CEO of Clearview AI, a controversial facial recognition startup, has resigned

techcrunch.com Charles Rollet 2025-06-01 22:17:16

The CEO of Clearview AI, the controversial facial recognition startup that created a searchable database of 30 billion photos by scraping the internet, has resigned, according to a statement he supplied to TechCrunch. The CEO, Hoan Ton-That, said “it is time for the next chapter in my life” and that he would remain on as a board member of Clearview AI. He declined to comment when asked for more details on what specifically sparked his resignation. The news was first reported by Forbes. Clearvi

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Rivian inches closer to profitability but warns ‘changes to government policies’ could hurt

techcrunch.com Sean O'Kane 2025-06-01 22:28:25

Rivian’s cost-cutting measures have gotten it a lot closer to profitability, but the company is warning that 2025 could still be a challenging year — especially because of the whorl of uncertainty caused by the new Trump administration. The company announced Thursday its fourth-quarter and full-year 2024 financial results, and along with it, shared plans to deliver between 46,000 and 51,000 EVs across 2025. Rivian cautioned that “changes to government policies and regulations, and a challenging

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Tether backs stablecoin liquidity provider Mansa in $10M seed round

techcrunch.com Tage Kene-Okafor 2025-06-01 21:00:00

As payment companies increasingly explore stablecoins for cross-border payments and real-time settlement, some startups are tapping into the zeitgeist by providing liquidity via a revolving line of credit in stablecoins. One of them is Dubai-based Mansa, whose offering allows payments companies, mainly in Africa to date, to settle transactions and fund customer accounts instantly. The startup has raised $10 million in seed funding including both equity and debt. Stablecoin provider Tether led t

Topics: liquidity mansa million payment payments

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Brand-new women’s focused Swizzle Ventures skyrockets past its fundraising target

techcrunch.com Dominic-Madori Davis 2025-06-01 22:15:00

Swizzle Ventures has closed its Fund I at $6.6 million, bypassing its initial $3 million target, Jessica Kamada, the firm’s founder, told TechCrunch. Back in December, TechCrunch reported that the firm, which quietly launched in 2023, was raising and has already bypassed $5 million, per its SEC filing. The thesis of Fund I will focus on women’s health and wealth, touching upon issues such as caregiving and finances. Kamada told TechCrunch that 70% of the fund’s LPs are women and 50% are expert

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After raising $1 billion, fintech Varo closes another $29 million, replaces founder CEO

techcrunch.com Mary Ann Azevedo 2025-06-01 23:59:53

Fintech Varo has been hoping to raise a $55 million Series G round but has, so far, closed on $29 million to date, according to a recent SEC filing. Varo declined to comment on this new round but the fintech has raised just over $1 billion in funding since its 2015 inception, according to PitchBook. It wouldn’t be the first time its fundraising didn’t go as hoped for. In 2023, Varo raised a $50 million equity round at a lower valuation ($1.85 billion post-money) than its massive and, it said,

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Latest Tech News

Gecko Robotics raises $125 million in deal valuing critical infrastructure startup over $1 billion

U.S. online stores put 'out of stock' signs as Nintendo Switch 2 sales hit record highs

Nintendo sells 3.5M Switch 2 consoles in four days

Nintendo sets record with 3.5 million Switch 2 units sold in four days

I managed to buy a Nintendo Switch 2 - and it's easy to see why it's flying off shelves

With the launch of o3-pro, let’s talk about what AI “reasoning” actually does

Musk’s threat to sue firms that don’t buy ads on X seems to have paid off

Jewel Burks Solomon’s Collab Capital has closed a new $75M fund

Fervo Energy lands $206M in financing to build massive geothermal power plant

Sam Altman-backed Coco Robotics raises $80M

Bybit loses $1.5B in hack but can cover loss, CEO confirms

This New Drug Could Help End the HIV Epidemic—but US Funding Cuts Are Killing Its Rollout

Bybit CEO Confirms Exchange Was Hacked for $1.46B

Five of the most important fintech VCs investing heavily in the sector

Augury and Hightouch joined the unicorn club

61 US startups became unicorns in 2024: Here’s the full list

Pre-seed firm Afore Capital has a fresh $185M fund and a new program to help founders discover ideas

CEO of Clearview AI, a controversial facial recognition startup, has resigned

Rivian inches closer to profitability but warns ‘changes to government policies’ could hurt

Tether backs stablecoin liquidity provider Mansa in $10M seed round

Brand-new women’s focused Swizzle Ventures skyrockets past its fundraising target

After raising $1 billion, fintech Varo closes another $29 million, replaces founder CEO

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