Conduct, a London-based AI startup founded by three former Palantir employees, has successfully raised $60 million in Series A funding. The company aims to modernize enterprise resource planning (ERP) systems using advanced AI technologies. This latest investment round was co-led by new and existing investors, positioning Conduct to accelerate its growth and innovation in the AI-driven enterprise software space.
Allbirds, once known for its sustainable footwear and valued at $4.1 billion during its 2021 IPO, has rebranded as Smartbird. The company has also appointed a new CEO to drive its transition into the AI infrastructure sector. Following the announcement, shares climbed over 50% before settling back. This rebranding marks the completion of a strategic shift first revealed in April, signaling a complete departure from its original business model.
PsiQuantum has commenced construction of a major quantum computing facility in Moreton Bay, Queensland. This ambitious project aims to develop the world’s first utility-scale, fault-tolerant quantum computer. The facility will house tens of thousands of photonic quantum chips, supported by one of the largest cryogenic systems ever built for quantum computing, marking a significant milestone in the field. Victor Peng, CEO of PsiQuantum, emphasizes the groundbreaking nature of this endeavor as it moves forward.
Behavox has successfully raised $175 million in preferred equity from HPS Investment Partners, the private credit firm recently acquired by BlackRock for $12 billion. This capital injection will be used to enhance Behavox’s integrated AI-driven compliance platform and support strategic acquisitions. This marks the company's first equity fundraising round in six years. Additionally, Behavox has fully repaid its previous debts as part of this agreement.
After a decade of operations and around 80 investments, PayPal Ventures, the corporate venture capital division of PayPal, has officially shut down as part of the company's ongoing restructuring efforts.
A Russian-speaking cybercriminal group is reportedly exploiting previously leaked passwords to infiltrate and compromise numerous major firms utilizing Fortinet Firewalls and VPNs worldwide.
Roelof Botha, former head of Sequoia Capital, has been appointed to SpaceX's board of directors, filling an existing vacancy. This move comes shortly after SpaceX completed the largest IPO in history.
Flutterwave, an African company specializing in payments infrastructure, has achieved a valuation of $3.2 billion. This milestone comes alongside an investment and partnership with the blockchain company Ripple, enhancing Flutterwave's position in the fintech ecosystem.
SpaceX plans to acquire Cursor for $60 billion in stock, aiming to boost its AI division which has faced challenges. This move comes shortly after SpaceX's impressive IPO, where the company highlighted a $26 trillion potential market in artificial intelligence to investors.
Respond.io, a standout Malaysian startup, leverages AI agents to efficiently manage large volumes of customer chats. Unlike traditional models, the company charges based on conversations rather than user seats, optimizing cost for businesses.
