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This week reminded us that different startups share a different approach to news: Some choose to remain quiet for a very long time, even about their acquisition details. Others, however, are as loud as can be about their rivalries.
Most interesting startup stories from the week
Founders aren’t always reliable when they claim there’s nothing to worry about — or when they hint at something suspicious. But either way, pass the popcorn; this is more entertaining than when they decline to disclose any details.
Corporate espionage: After filing a lawsuit, HR tech startup Rippling publicly released the affidavit of its former employee accused of spying for rival Deel. This reads so much like a movie script that we wouldn’t be surprised if Hollywood producers took notice.
Harbinger of trouble: EV truck maker Harbinger accused Canoo of hiding assets in its bankruptcy process and filed an objection to the sale of the company’s assets to Canoo’s CEO, Anthony Aquila, whom it said was “unfairly favored.”
Out of Nam: Qualcomm acquired the generative AI division of VinAI, a Vietnam-based AI research company founded by former DeepMind research scientist Hung Bui. Deal terms were not disclosed.
Epic tagging: Fortnite maker Epic Games paid an undisclosed amount to acquire Loci, an AI platform that automatically tags 3D assets for easier search and IP infringement detection.
AMA: Perplexity CEO Aravind Srinivas took to Reddit to affirm that the company has “no plans of IPOing before 2028” and is not under serious financial pressure.
Most interesting VC and funding news this week
From Series A to E, this week brought us an alphabet of funding rounds — and fresh capital for manufacturing and defense tech. Plus, a veteran VC is moving to the other side of the table.
Thriving: AI drug-discovery platform Isomorphic Labs raised a $600 million round, its first external funding since spinning out of Google’s DeepMind in 2021. The round was led by Thrive Capital, with participation from GV and existing investor Alphabet.
Covered: Plaid raised $575 million at a $6.1 billion valuation — less than half its peak $13.4 billion valuation, but more than Visa would have paid in the acquisition that fell through in 2021. The fintech company also said it is “well-capitalized” and won’t go public this year.
Durable execution: Temporal, a company whose open source and commercial offerings help developers execute long workflows reliably, raised a $146 million Series C at a $1.72 billion post-money valuation.
Now time: Retym (pronounced “re-time”), a chipmaker for AI data centers founded in 2021 but flying under the radar until now, raised a $75 million series D led by Spark Capital.
In flux: Aetherflux raised a $50 million Series A to advance its vision of deploying space-based solar power stations, with a first demo planned for 2026. This brings its total funding to $60 million; its CEO, Robinhood co-founder Baiju Bhatt, also invested $10 million of his own.
Future of housing? Roam, a startup that helps prospective homeowners find properties with assumable mortgages, closed an $11.5 million Series A led by Khosla Ventures managing director Keith Rabois.
New bricks: Construct Capital, a Washington, D.C.-based early-stage VC firm that invests in startups related to manufacturing, transportation, and defense tech, closed a $300 million third fund.
New tunes: Fintech VC Frank Rotman will step down from QED Investors and into a partner emeritus role to focus on founding his own startups, starting with a first business in the music industry.
Last but not least
Intel Capital has been operating as Intel’s venture investment arm since 1991. But as it is getting ready to spin out, TechCrunch took a closer look at its journey so far and its plans for the future.
