Summary:
Chime's IPO highlights the unpredictable journey of startups, from near failure to a $14.5B valuation
Nucleus Genomics sparks ethical debates with its embryo selection product
Automattic acquires Clay, adding a relationship management layer to its online tools
Multiverse Computing raises €189M to reduce AI costs with 'slim' models
Collab Capital closes a $75M fund focused on healthcare and infrastructure innovations
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
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
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.
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