**Financial technology startup Ramp** has reached a staggering **$16 billion valuation** after securing a **$200 million funding round**. This monumental achievement underscores the company's rapid growth and the increasing investor confidence in fintech innovations.

Leading this significant investment is **Founders Fund**, the venture capital firm associated with billionaire **Peter Thiel**. This move highlights the firm's continued interest in backing disruptive technologies and startups that redefine financial services.

Ramp's journey to this valuation is a testament to the **explosive potential of fintech startups** in today's digital economy. With this new capital, Ramp is poised to further innovate and expand its offerings, solidifying its position as a leader in the financial technology sector.

Financial technology startup Ramp is now valued at $16 billion following a $200 million funding round, according to a person familiar with the matter.

Ramp Soars to $16B Valuation in Groundbreaking Funding Round Led by Founders Fund

**Mubi**, the renowned distributor, streaming platform, and production company, recently valued at $1 billion, has found itself at the center of a heated debate. The controversy stems from its latest investment source, **Sequoia Capital**, which has ties to **Kela**, an Israeli defense-tech firm. This connection has sparked significant backlash online, with calls for boycotts and subscription cancellations.

### The Investment That Sparked Outrage
At the end of May, Mubi announced a **$100 million investment** from Sequoia Capital, a Silicon Valley giant known for backing companies like Apple and Google. However, Sequoia's involvement with Kela, a startup founded by veterans of Israeli intelligence units, has drawn criticism. Kela is developing a **battlefield operating system** integrating AI and commercial tech, raising ethical concerns amidst the ongoing conflict in Gaza.

### The Backlash
Online critics have been vocal, with some calling for Mubi to be added to the **BDS (Boycott Divestment and Sanctions) list**. A group named **Film Workers for Palestine** expressed horror over Mubi's decision, demanding the return of the investment. The situation escalated as social media users shared their discontent widely.

### Mubi's Response
In a statement, Mubi clarified that the investment was aimed at **accelerating its mission** to deliver bold films globally. The company emphasized that the **views of individual investors do not reflect Mubi's stance**. Despite its politically muted history, Mubi has shown support for Palestinian filmmakers, featuring numerous Palestinian films in its library.

### The Bigger Picture
This incident highlights the **complex intersection of business, politics, and ethics** in the entertainment industry. As Mubi navigates this controversy, the broader implications for corporate investments in contentious sectors remain a topic of intense debate.

Mubi has responsed to backlash of its new investor Sequoia Capital's ties to Israeli defense-tech firm Kela

Mubi Faces Backlash Over Investment Ties to Israeli Defense Firm: A Deep Dive into the Controversy

**Venture capitalists are increasingly investing in startups that leverage artificial intelligence to automate customer support**, with companies like **Intercom** and **Kore.ai** leading the charge. These startups are on track to generate over **$100 million in annual revenue**, showcasing the growing demand for AI-driven customer service solutions.

![AI Customer Support Startups Intercom, Kore.ai Discuss Multibillion-Dollar Valuations With Investors](https://tii.imgix.net/production/articles/15248/89c59c9b-425d-4dda-86d8-bf391a35a5ef.png?auto=compress&fit=crop&auto=format)

### The Rise of AI in Customer Support
The customer support industry is undergoing a transformation, with **AI-powered solutions** becoming a cornerstone for businesses looking to enhance efficiency and reduce costs. **Intercom**, a well-known customer support software startup, and **Kore.ai**, a leader in conversational AI, are at the forefront of this shift. Both companies are in discussions with investors to secure funding at **multibillion-dollar valuations**, reflecting the high stakes and potential of this sector.

### Why Investors Are Betting Big
The appeal of AI customer support startups lies in their ability to **scale quickly and handle large volumes of inquiries without human intervention**. This not only improves customer satisfaction but also significantly cuts operational costs. With the **global AI market expected to grow exponentially**, investors are keen to back companies that can dominate this space.

### The Competitive Landscape
While Intercom and Kore.ai are making headlines, they are not alone. The market is becoming increasingly crowded, with numerous startups vying for a piece of the pie. However, the **first-mover advantage and robust technology stacks** of these companies give them a competitive edge.

Venture capitalists can’t stop betting on startups that are developing artificial intelligence to automate customer support, including those that are on pace to generate more than $100 million in revenue annually. In the latest examples, Intercom, a customer support software startup founded in ...

AI Customer Support Startups Intercom and Kore.ai Eye Multibillion-Dollar Valuations: The Future of Automated Support

**Palmer Luckey**, the visionary behind Oculus VR and founder of defense tech giant Anduril, is stepping into the financial sector with a groundbreaking **crypto-friendly digital bank** tentatively named **'Erebor'**. This initiative, inspired by the treasure-filled mountain from *The Hobbit*, aims to redefine banking for the tech-savvy entrepreneur.

### A New Banking Paradigm
Erebor is designed to offer **stability and flexibility** to Silicon Valley's innovators, focusing on **supporting tech entrepreneurs** rather than maximizing deposit returns. The bank plans to accept deposits in both **cash and stablecoins**, ensuring continuous service even during bank holidays.

### Backed by Tech Titans
Luckey is collaborating with **Joe Lonsdale**, a prominent tech investor, whose venture firm **8VC** is leading a **$225 million funding round** to meet regulatory requirements. This partnership underscores the project's ambitious vision to merge traditional banking with the digital currency revolution.

### Addressing Silicon Valley's Needs
The idea for Erebor emerged following the **collapse of Silicon Valley Bank** in 2023, highlighting the need for a more resilient financial infrastructure. Erebor aims to offer **conservative banking practices**, including potential **one-to-one deposit covenants**, ensuring assets remain untouched and secure.

### A Glimpse into the Future
With **stablecoins gaining traction** and regulatory frameworks like the **GENIUS Act** on the horizon, Erebor is poised to capitalize on the growing demand for **less volatile digital currencies**. This venture marks another bold step for Luckey, whose Anduril recently achieved a **$30.5 billion valuation**.

![Palmer Luckey](https://nypost.com/wp-content/uploads/sites/2/2025/06/2023-anduril-recently-beat-several-106419779.jpg?w=1024)
*Palmer Luckey, the tech mogul behind Erebor*

Palmer Luckey’s defense firm Anduril is set on revolutionizing modern warfare – and the tech executive is now backing a crypto-friendly, digital-first bank startup that aims to rethink the world of finance, The Post has learned.

Palmer Luckey Ventures into Crypto Banking with 'Erebor' Startup: A New Frontier for Tech Entrepreneurs

**Welcome to Startups Weekly** — your weekly recap of everything you can’t miss from the world of startups. Despite the buzz around WWDC, June proved to be a bustling month for startup news, with significant deals and IPOs making headlines.

### **Most Interesting Startup Stories from the Week**

![Chime IPO](https://techcrunch.com/wp-content/uploads/2025/06/Chime-IPO.jpeg?w=680)

This week was a reminder that the startup journey is anything but linear, with **Chime**, a neobank, making waves by going public in one of the year's most anticipated IPOs. The company's near-death experience in 2016 and its subsequent revival is a testament to the unpredictable nature of startup success.

- **Nucleus Genomics** faced backlash for its controversial **Nucleus Embryo** product, sparking debates on ethical boundaries in genetics testing.
- **Automattic**, the owner of WordPress.com, acquired **Clay**, a relationship management app, signaling a strategic move to enhance its online tools.
- **Superblocks' CEO** shared insights on finding the next billion-dollar idea by analyzing AI system prompts, offering a unique perspective for aspiring founders.

### **Most Interesting VC and Funding News This Week**

![Geothermal Energy](https://techcrunch.com/wp-content/uploads/2024/02/Fervo-Energy_Project-Red_Rig-2-2048x1367-1.jpg?w=680)

The funding landscape was vibrant, with **Multiverse Computing** securing a massive €189 million Series B to slim down AI costs, and **Glean** achieving a $7.2 billion valuation after its Series F round. Not to be outdone, **Fervo Energy** landed $206 million for its geothermal projects, highlighting the growing interest in sustainable energy solutions.

- **Proxima Fusion** and **Coco Robotics** also made headlines with significant funding rounds, showcasing the diversity of innovation across sectors.
- **Collab Capital** closed a $75 million fund, focusing on seed and Series A investments in healthcare and infrastructure, underscoring the importance of strategic funding in shaping the future of work.

### **Last but Not Least**

The **U.S. Navy** opened its doors to startup partnerships, offering a unique opportunity for innovators to collaborate on defense technologies. This move reflects the increasing intersection between technology and traditional sectors, paving the way for groundbreaking advancements.

This week brought us many reminders that no startup journey is linear — but the next billion-dollar idea may only be one click away.

Startups Weekly: The Unstoppable March of Innovation and Big Funding Rounds

**What happens when Seattle founders visit San Francisco?** A group of early-stage entrepreneurs from Seattle's **Foundations** community traveled to the Bay Area for the **AI Engineer World’s Fair**, sparking a lively debate on the differences between the two cities' startup cultures.

### Key Takeaways from the Trip:
- **San Francisco's Density of Founders**: The city's high concentration of entrepreneurs and constant idea exchange solidifies its status as the startup capital of the world.
- **Seattle's Calmer Pace**: While Seattle could use more of SF's energy, its less intense environment offers unique advantages, including stronger peer support and fewer distractions.
- **Tech Talent in Seattle**: With giants like Microsoft and Amazon, Seattle boasts deep tech talent, making it ideal for **AI startups**, especially those with a vertical focus. However, it lacks in marketing and sales expertise.
- **Risk Appetite**: Silicon Valley founders and investors are notably less risk-averse, embracing 'crazy ideas' more readily than their Seattle counterparts.

### The Serendipity Factor
San Francisco's 'mojo' is back, according to Ishan Anand, a Seattle-area founder with Bay Area experience. The city's ability to foster **serendipitous connections** creates a collective momentum crucial during the AI boom. Patrick Ellis, CTO of Snapbar, highlights the importance of a strong community to stay atop rapidly evolving AI techniques.

### Foundations: Bringing SF's Energy to Seattle
Launched last year, **Foundations** aims to replicate San Francisco's serendipity in Seattle. With over 200 members, including early-stage founders and seasoned investors, the group is building a 'serendipity factory' to energize Seattle's startup scene.

Veteran entrepreneur Matt Shobe speaks to a group of Seattle founders during their trip to San Francisco for the AI Engineer World's Fair. (Photo courtesy

Seattle vs. San Francisco: A Deep Dive into Startup Cultures Post-AI Conference

For founders, **time is the most precious resource**—one you can't raise more of. That's why **TechCrunch All Stage**, set for July 15 in Boston’s SoWa Power Station, is meticulously designed to ensure every minute counts. Whether you're brainstorming your product's first version or scaling a team of 50, this event meets you at your current stage, offering **access, insights, and connections** to propel you forward. And here's a sweet deal: **a $210 discount on tickets** is up for grabs if you act fast.

### Tailored for Founders, by Founders

Startups thrive on real value, not fluff. TechCrunch All Stage is **curated with builders in mind**, featuring deep-dive breakout sessions on scaling, unfiltered pitch feedback, and after-hours networking that fosters genuine connections over drinks. It's not just about attending; it's about **making tangible progress**.

- **Learn from the best**: Participate in roundtables led by recent exits and gain insights from **Charles Hudson** of Precursor Ventures on what VCs truly seek in founders.
- **Meet your next partner**: The room is filled with like-minded innovators, potential backers, and collaborators.

### VC Access Without the Pressure

Unlike traditional events, **TechCrunch All Stage integrates top investors** into the fabric of the day—leading discussions, joining roundtables, and mingling freely. This setup offers founders **organic opportunities to build relationships** with those who fund the future, beyond the formal pitch.

### Immersive Experience, Not Just Another Event

Expect a day packed with **live feedback, founder stories, and idea exchanges** that challenge and inspire. From "So You Think You Can Pitch" sessions to off-the-record chats and therapeutic side events, it's an **acceleration day for founders**.

**Early-bird pricing ends June 22**—don't miss out on saving up to $210. [Join us at TechCrunch All Stage](https://techcrunch.com/events/techcrunch-all-stage-2025/tickets/?utm_source=tc&utm_medium=post&utm_campaign=tcallstage2025&utm_content=ticketsales&promo=post_founder_06132025&display=).

For a founder, time is the one resource you can’t raise. That’s why TechCrunch All Stage — happening July 15 in Boston’s SoWa Power Station — is designed

Unlock Founder Success at TechCrunch All Stage: A Must-Attend Event for Innovators

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Ramp Soars to $16B Valuation in Groundbreaking Funding Round Led by Founders Fund

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Other Latest News

Mubi Faces Backlash Over Investment Ties to Israeli Defense Firm: A Deep Dive into the Controversy

AI Customer Support Startups Intercom and Kore.ai Eye Multibillion-Dollar Valuations: The Future of Automated Support

Palmer Luckey Ventures into Crypto Banking with 'Erebor' Startup: A New Frontier for Tech Entrepreneurs

Startups Weekly: The Unstoppable March of Innovation and Big Funding Rounds

Seattle vs. San Francisco: A Deep Dive into Startup Cultures Post-AI Conference

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Other Latest News

Mubi Faces Backlash Over Investment Ties to Israeli Defense Firm: A Deep Dive into the Controversy

AI Customer Support Startups Intercom and Kore.ai Eye Multibillion-Dollar Valuations: The Future of Automated Support

Palmer Luckey Ventures into Crypto Banking with 'Erebor' Startup: A New Frontier for Tech Entrepreneurs

Startups Weekly: The Unstoppable March of Innovation and Big Funding Rounds

Seattle vs. San Francisco: A Deep Dive into Startup Cultures Post-AI Conference

Unlock Founder Success at TechCrunch All Stage: A Must-Attend Event for Innovators

Transform Your Side Hustle into a Scalable Business with AI-Powered Sellful