News Summary

This week in the startup world, significant developments included new funding rounds, acquisitions, and legal challenges. Mira Murati, former CTO of OpenAI, has launched AI startup Thinking Machines Lab with two high-profile advisers. Ilya Sutskever, also an OpenAI co-founder, is using Google Cloud’s TPU chips for his new AI venture, Safe Superintelligence. OpenAI’s potential $500 million acquisition of Io Products, an AI hardware startup, is under consideration. Meanwhile, Deel’s head of communications has departed amid allegations of corporate espionage. Colossal Biosciences’ claims of resurrecting the dire wolf are under scientific scrutiny, and its valuation remains debated. The fashion marketplace Lyst has been acquired by Japan-based Zozo for $154 million, a steep drop from its previous $700 million valuation. Banking-as-a-service startup Solid has filed for Chapter 11 bankruptcy following litigation issues. In funding news, Nuro, an autonomous driving startup, raised $106 million in a Series E round, reflecting a valuation dip to $6 billion. Base Power secured $200 million to expand its home battery backup services. Sipay, a Turkish fintech startup, raised $78 million to expand internationally. Rain, an earned wage access startup, raised $75 million, and Brinc Drones, a Seattle-based police drone startup, secured $75 million in new funding. SignalFire and Lerer Hippeau have bolstered their funds with over $1 billion and $200 million, respectively. Lastly, Berlin’s Revent VC closed a $109 million fund focused on startups aimed at planetary and societal health.