News Summary

This week’s startup news highlights significant developments across various sectors. Figma is gearing up for an IPO that could raise up to $1.5 billion, reflecting its impressive financial standing. Cluely, a startup known for its rage-bait marketing, has doubled its annual recurring revenue to $7 million. Brex is navigating the complexities of AI tool procurement, while Stripe’s first employee, Darragh Buckley, who founded fintech startup Increase, is reportedly interested in acquiring a bank.

In funding news, Revolut is seeking a new funding round at a $65 billion valuation, and SpaceX is looking to raise $250 million at a $400 billion valuation. Lovable is on track to raise $150 million. Greenoaks Capital invested $200 million in Rivian spinoff Also, a micromobility startup. Terra CO2 secured $124 million to reduce the carbon footprint of concrete, and Genesis AI emerged from stealth with a $105 million seed round to build a foundational model for robots. Huspy raised $59 million for its proptech expansion, and Qedma gathered $26 million for its quantum startup with IBM’s involvement. Tailor received $22 million for its AI-powered enterprise platform, and Darkstar, an Estonian VC firm, raised $17.5 million to invest in defense solutions tested in Ukraine.

Phosphor Capital, led by Zeus Living founder Kulveer Taggar, will exclusively invest in Y Combinator companies. Additionally, Salesforce’s acquisition of Informatica for $8 billion underscores the ongoing consolidation in the AI-driven data industry.