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In Brief Europe’s fintech darling Revolut is looking to raise a new funding round that would give it a $65 billion valuation, the Financial Times reports. The UK-based company is reportedly in talks to raise around $1 billion by issuing new shares and selling existing ones. The US-based firm Greenoaks is said to be leading the round, though the deal has not been finalized, and terms could change. TechCrunch reported in April that the company saw a 72% increase in revenue last year, netting $1
In Brief Also Inc., the micromobility startup spun out of Rivian earlier this year, has raised $200 million from Greenoaks Capital, according to a new report from Bloomberg News. The funding round brings Also’s post-money valuation to $1 billion. The startup raised $105 million from Eclipse Ventures earlier this year when it was cleaved from Rivian. Also started as a skunkworks team inside Rivian in 2022 known as Project Inder, as TechCrunch previously reported. The team started working on an
With AI igniting an investor frenzy, every month, more startups obtain unicorn status. Using data from Crunchbase and PitchBook, TechCrunch tracked down the VC-backed startups that became unicorns so far this year. While most are AI-related, a surprising number are focused in other industries like satellite space companies like Loft Orbital and blockchain-based trading site Kalshi. This list will be updated throughout the year, so check back and see the latest powerhouse startups who are now w
In Brief Elon Musk’s AI company, xAI, has raised $10 billion in debt and equity, Morgan Stanley confirmed on Monday. In a post on X, the financial giant said xAI had raised $5 billion in debt and another $5 billion in a separate strategic equity transaction. “The combination of debt and equity reduces the overall cost of capital and substantially expands pools of capital available to xAI. The proceeds will support xAI’s continued development of cutting-edge AI solutions, including one of the
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. Before this newsletter takes a break for the Fourth of July next week, here are the startup stories and funding rounds that caught our eye over the last few days, which have been quite busy. Most interesting startup stories from the week Image Credits:SOPA Images / Contributor / Getty Images This week brought us lawsuit updates, M&As, and a
At TechCrunch All Stage, we’re proud to spotlight our partners — not only for their support, but also for the invaluable expertise they bring to the conversation. Their sessions deliver front-line insights into the startup ecosystem and are must-attend moments for anyone looking to navigate and thrive in today’s dynamic entrepreneurial landscape. We sincerely thank Fidelity, whose support is powering this year’s TC All Stage programming. Their commitment to startup success helps fuel the knowled
New York City's Taxi and Limousine Commission (TLC) have settled on new minimum-wage rules for rideshare drivers, Bloomberg reports. Drivers will receive a five percent raise under the new proposal, a compromise to keep Uber and Lyft from locking drivers out of their apps. The proposal needs to be voted on by the TLC's board of commissioners before it goes into effect, but assuming it does, it'll end months of uncertainty for drivers working in the city. Uber began sporadically locking drivers
Ramp, which offers a financial operations platforms to corporate clients, has raised its valuation to $16 billion in a new fundraising led by long-time investor Founders Fund, Peter Thiel's venture firm. The $200 million round is the fifth that Founders' has led for Ramp and raised its valuation by $3 billion. It last raised money at a $13 billion valuation in March. Founded in 2019, Ramp offers services that cover corporate cards, procurement, bookkeeping, travel booking, and vendor managemen
This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Credit: Pixabay/CC0 Public Domain Before artificial sweeteners, people satisfied their cravings for sweetness with natural products, including honey or dried fruit. Raisin wines, made by drying grapes before fermentation, were particularly popular. Historical records show these wines, some known as passum, were enjo
New York state lawmakers passed a bill on Thursday that aims to prevent frontier AI models from OpenAI, Google, and Anthropic from contributing to disaster scenarios, including the death or injury of more than 100 people, or more than $1 billion in damages. The passage of the RAISE Act represents a win for the AI safety movement, which has lost ground in recent years as Silicon Valley and the Trump Administration have prioritized speed and innovation. Safety advocates including Nobel prize laur
This is a reported phenomenon where if two copies of Claude talk to each other, they end up spiraling into rapturous discussion of spiritual bliss, Buddhism, and the nature of consciousness. From the system card: Anthropic swears they didn’t do this on purpose; when they ask Claude why this keeps happening, Claude can’t explain. Needless to say, this has made lots of people freak out / speculate wildly. I think there are already a few good partial explanations of this (especially Nostalgebrais
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. You’d think WWDC would cause a lull in startup news. But not in June, when everyone is eager to announce their latest deals — or even to go public. Most interesting startup stories from the week Image Credits:Nasdaq This week brought us many reminders that no startup journey is linear — but the next billion-dollar idea may only be one click
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
ZDNET This AI thing has taken off really fast, hasn't it? It's almost like we mined some crashed alien spacecraft for advanced technology, and this is what we got. I know, I've been watching too much *Stargate*. But the hyper-speed crossing the chasm effects of generative AI are real. Generative AI, with tools like ChatGPT, hit the world hard in early 2023. All of a sudden, many vendors are incorporating AI features into their products, and our workflow patterns have changed considerably. Als
Companies developing small modular nuclear reactors (SMRs) have raised more than $1.5 billion in the past year, as tech companies hunger for power to train AI models and governments decide to commit to the industry. For example, X-energy raised $700 million this month, and Paris-based Newcleo raised $151 million last year, and one would be remiss to not mention the $700 million invested into Oklo, NuScale and Nano Nuclear for similar projects in the U.S. While nuclear fusion still looks relati
Andry Djumantara/Getty Images After reversing a Biden-era executive order on AI regulation and firing staff across several government agencies, the Trump administration is gearing up to make cuts to the US AI Safety Institute (AISI) next. On Wednesday, Axios reported that probationary employees at the National Institute of Standards and Technology (NIST), which houses AISI, are "bracing to be fired imminently." Sources told Axios they are preparing for 497 roles to be cut, which they believe w