Column: Five Reasons Why Space Matters (Hint: It's Not Tourism)

Krisztina 'Z' Holly
Krisztina "Z" Holly is a venture partner with Good Growth Capital and an advisor to leaders harnessing untapped innovation and novel business models for scale. Z is an MIT-trained engineer and serial tech entrepreneur who has been scouting, advising and investing in early-stage deep tech innovators for more than two decades.
Column: Five Reasons Why Space Matters (Hint: It's Not Tourism)

Last night, Rocket Lab made a big comeback from its failed launch last May. The Long Beach startup's Electron rocket launched a satellite for the U.S. Space Force, bringing their total to 105.


This capped a busy month for space, with Richard Branson and Jeff Bezos making their space dreams come true in the weeks prior. But with all the attention on the billionaire's exploits, are we missing the bigger picture?

The lack of coverage for Rocket Lab's rebound is just as telling as the fanfare around Virgin Galactic and Blue Origin's flights. Space tourism is distracting us from why we should actually care about space.

The Biggest Space News of the Year

While the public has debated the merits of this month's sub-orbital joyrides, the media missed the biggest aerospace event of the year a month ago, when Hawthorne-based SpaceX launched their Transporter‐2 mission on June 30.

What was so revolutionary about last month's launch? Nothing. And that's partly the point. Launches are becoming routine thanks to reusable launch vehicles.

But the Transporter‐2 mission was significant, because the rideshare mission launched 88 different satellites for customers into orbit, enabling innovation for scores of organizations.

The launch was the first for Santa Barbara startup Umbra, which has developed technology capable of seeing at night and through dense clouds; it has since been added to a joint $950M Air Force contract. The payload also included a competing satellite from Iceye, manufactured in Irvine, and two cubesats from San Diego-based General Atomics to test optical communications between satellites and from satellites to drones.

As a preeminent hub for aerospace, Southern California stands to gain greatly as launches become more frequent and the industry re-emerges from its post-'80s slumber. But other hubs are rapidly catching up.

As a venture capitalist and advisor to space—and other—startups, I've seen the sector evolve into something barely recognizable from the time I started my career as an engineer on the Space Shuttle Main Engine decades ago. Here are five reasons we should care.

1. Space Improves Our Quality of Life

If you looked at your phone this morning to get the weather forecast or check the route to your first meeting, you can thank satellites for the help.

"The blue dot on your phone is possible due to billions of dollars of space infrastructure," says Van Espahbodi, managing partner and co‐founder of Starburst, a company that catalyzes connections in the aerospace industry. "Sure it results in food delivery, dating apps and so many innovations in daily life, but none of this would be possible without the boundaries of exploration into space."

A SpaceX Starlink satellite

Space isn't just delivering convenience, it's democratizing access to data and technology, too.

"There are four billion people unconnected in this world," says Akash Systems CEO and founder Felix Ejeckam, who aims to expand global access to broadband. "Unless you're still going to run expensive fiber optic cables all over the Earth, you have no choice but to drop internet beams from space."

Programs like OneWeb and SpaceX's Starlink are bringing broadband connectivity to every corner of the globe, and Akash has developed advanced materials that will help reduce the cost and increase speeds of such Internet satellites, aiming to make these services more accessible and ubiquitous.

On the flip side—those times we claim we're "off the grid" from work for a week? Those days might be numbered.

2. Space Lets Us Understand Our World and Adapt to Climate Change

With all this talk of Mars missions as our "Plan B," you might ask, "Why not invest in the planet we have?" The aerospace industry is doing that, too.

Satellites are critical for sensing our world—tracking changes in infrastructure, weather and the environment over time. Satellites can measure the height of entire oceans within an accuracy of about an inch, and NASA's first TROPICS cubesat, launched on Transporter-2, will use microwaves to predict hurricanes.

"Our space endeavors have been instrumental to understanding the extent of climate change on Earth using satellite data from NASA and NOAA," says Jessica Rousset, Deputy director of the Arizona State University Interplanetary Initiative.

Government efforts are complemented by an ever‐expanding collection of private constellations with new capabilities. With these expanding capabilities we can sense new things—and sense them more often. Inexpensive infrared and hyperspectral imaging of crops can help farmers make better decisions and make agriculture more productive and resource‐ efficient. Soon, we'll even be able to see underground, thanks to companies like Lunasonde.

Granted, the carbon emissions from rocket launches can have their own negative impact on the environment. Fortunately, some launch services—including Blue Origin—are shifting to less‐ polluting fuels like hydrogen.

3. Space Enables Things We Could Never Do Before

The unique environment of space unlocks new opportunities in science and industry that would be worthy of science fiction movies.

Companies like Varda plan to set up self‐assembling, automated factories on orbit to manufacture things. Production of semiconductors, protein crystals, polymers, new drugs or optical fibers might benefit from the zero‐gravity, near‐vacuum conditions of space.

Some have proposed setting up 24/7 solar farms in space and beaming the energy down to Earth using lasers or microwaves.

And 21st‐century prospectors have set their sights skyward, with dreams of mining asteroids for precious materials. Last year, Japan hosted the first successful asteroid sample recovery mission, landing their loot in the Australian outback.

Not everyone believes space production will be practical anytime soon, but research in space has already led to discoveries in material science, plasma physics and biology.

The publicly‐funded International Space Station has been a productive early laboratory. Now, space infrastructure developer Axiom Space is working towards a 2024 launch of their initial components for the next generation commercial space station, partially funded by a $140M NASA grant.

4. Space Has Created a Burgeoning New Industry

Space has another very practical benefit; it has created an entirely new sector of the economy. Early governmental funding and discoveries has set the stage for an entirely new ecosystem of startups, suppliers and service companies sustained by private dollars. Morgan Stanley estimates that the global space industry—$350B as of 2016—will expand to over $1 trillion by 2040.

These companies are driving innovation, fueling economic growth, and creating new jobs in an industry where the United States still maintains a manufacturing edge.

Satellites in space means the need for infrastructure, being built now. Orbit Fab, the "Gas Stations in Space" company, launched the world's first satellite fuel tanker on Transporter‐2. They are building a materials supply chain to support a space economy that CEO Daniel Faber predicts will ultimately lead to permanent jobs in orbit. (Full disclosure: I'm an investor.)

"Fuel is now available for purchase and delivery in space," says Faber, "And we don't have to keep throwing away perfectly good satellites when they run out of fuel."

In the past NASA has justified their funding by pointing at thousands of technologies spun out of the space program—memory foam, cochlear implants, freeze dried food, CMOS image sensors and powdered lubricants — to name a few.

"But today, it's almost like the reverse is happening," says Jonathan Fentzke, the newest managing director of the Techstars Space accelerator. Space is driving demand for technology. "Unique challenges on orbit, like petabytes of image data streamed daily or the lack of heat dissipation in a vacuum, means the industry is always looking for new technologies and suppliers to solve their challenges." The June 30 launch of three SAR satellites alone will add 30-40 terabytes of data per day to the cloud.

Which is why his 2021 cohort includes startups like Pixspan, an image compression company with roots in Hollywood, and Thermexit, whose carbon nanomaterials were originally designed for supercomputers. These companies are finding a new thirst for their technologies thanks to the space industry.

5. Space Inspires Discovery

And finally, space still holds a special place by being the final frontier. While there aren't many places left on Earth that haven't appeared in a selfie, endless discoveries await us beyond our atmosphere.

The James Webb Space Telescope

Southern California has a long history of space adventures, including Chuck Yeager's historic sound barrier-busting flight in 1947. From NASA-JPL's Curiosity and Perseverance rovers to SpaceX's dreams of colonizing Mars, we continue to be the epicenter of big-idea space exploration

And our discoveries aren't just for adventure, either. By exploring beyond our planet, we can prepare for interplanetary human settlement, learn about the origins of life or better understand the beginning of the universe.

In El Segundo, Northrop Grumman is assembling the much awaited James Webb Space Telescope, soon headed a million miles away to "L2," a cold, stable perch past the moon. From there it will peer deep into space, providing views of faraway exoplanets and glimpses of light from 13.6 billion years ago, when the earliest stars and galaxies were just forming in the universe.

Our Future in Space is Inevitable

Things have changed for the better in aerospace over the last decade.

Back when I was a young engineer working at Rocketdyne, my work was funded by NASA. I remember how we depended on the largess of government dollars and lived by the whims of public sentiment. Risk and new ideas weren't readily accepted, and failure wasn't an option.

Today, aerospace is more iterative, entrepreneurial, and largely driven by commercial interests. "There's so much money and interest out there, and there is more of a culture of innovation," says Carrie Hernandez, formerly of SpaceX and now CEO and Co‐Founder of Rebel Space Technologies in Long Beach.

And private space investments have never been higher. "In 2021, private capital will invest more money in the space industry than NASA will spend on everything," NASA-JPL physicist and local angel investor Shanti Rao quipped recently on Twitter.

And with a few exceptions, we're exploring at relatively bargain‐basement prices. Reusable rockets, space servicing, robotics and other technologies make space more affordable than ever.

"In the 60s, we went at great expense—often around 4% of GDP. But today, we're doing twenty times more at one‐tenth the price," says a colleague who asked to remain anonymous because he doesn't have permission to speak on behalf of his government employer. "And this time we're not just stopping by to say hello, we're setting up a permanent base."

Private industry is taking the lead, but Southern California needs to keep its eye on the ball. These days space companies can be almost anywhere, and Colorado, Texas and Northern California have become major hubs of space innovation, too.

NASA's Apollo and Space Shuttle programs were as much a PR effort as they were science expeditions. And those educational efforts have paid dividends by inspiring more public funding for research and development and a whole generation of kids to pursue science and math.

Will Blue Origin and Virgin Galactic succeed at filling this inspirational role? I hope so. But it's time for us to celebrate and support all the entrepreneurs exploring the boundaries of space.

Because it turns out, you don't need to be a billionaire to pursue your space dreams. And with or without public support, the space industry is now inevitable.

https://www.linkedin.com/in/krisztinaholly/
An LA AI Company Just Won Entertainment’s Backing

🔦 Spotlight

Hello LA.

The entertainment industry has spent the past several years debating what generative AI could take from creators.

This week, some of its biggest companies put money behind an AI startup promising to build something for them instead.

Los Angeles-based Stability AI raised $76M in Series B funding from an investor group that includes Electronic Arts, Sony Music Group, Universal Music Group and Warner Music Group. AMD Ventures and Pacific Alliance Ventures also joined the round, while LA-based MANTIS Capital and Sound Ventures are among the company’s existing backers.

The financing brings Stability AI’s total funding under CEO Prem Akkaraju to $232M, including two equity rounds and convertible notes. The company plans to use the new capital to expand its creative production tools, applied research and professional services across music, gaming and entertainment.

The amount is notable. The names attached to it are the bigger story.

Generative AI’s arrival in entertainment has been anything but quiet. Artists have questioned whether their work was used to train models without permission. Studios have faced pressure over how the technology could affect jobs. Record labels have pursued AI companies in court while simultaneously exploring how the same technology might fit into their businesses.

Now, several of the world’s largest entertainment companies are investing directly in one.

That does not mean the industry has resolved its concerns about AI. It means some of its biggest players would rather help shape the technology than wait to see what it becomes.

Stability AI is positioning itself for that opening. Rather than focusing solely on general-purpose models, the company is building tools specifically for professional creatives. Its recently launched Stable Audio 3.0 was trained on fully licensed music and lets artists generate, edit and arrange audio through a web platform or directly inside digital audio workstations.

Image Source: Stability AI

That licensed-data approach is central to the pitch. The next phase of creative AI will not be decided only by which company produces the most impressive model. It will also depend on which companies can earn the trust of the artists, studios and rights holders whose work gives those models value.

For its new strategic investors, the round offers more than financial upside. It creates a closer view into how generative AI may change production, a voice in how the tools develop and an opportunity to establish rules before those rules are established for them.

For Stability AI, the backing provides something equally important: credibility inside industries that have every reason to scrutinize what it is building.

The company now has capital and access to some of the largest catalogs, franchises and creative workforces in entertainment. What it does with that access will determine whether this becomes a meaningful alliance or simply an impressive collection of logos.

Either way, the industry is no longer watching from a safe distance.

It has entered the room.

LA’s Air-Taxi Plans Are Coming Downtown

While Stability AI is trying to change how entertainment gets made, Archer Aviation wants to change how people get to it.

AEG and Archer announced plans to develop downtown Los Angeles’ first vertiport at L.A. LIVE, creating a potential new stop in Archer’s proposed electric air-taxi network ahead of the 2028 Olympic and Paralympic Games.

Image Source: Archer

The planned site would sit beside Crypto.com Arena and allow passengers to travel to and from the entertainment district aboard Archer’s Midnight aircraft. The company says its network could turn drives that take an hour or longer into electric flights lasting approximately 10 to 20 minutes.

Archer has already identified SoFi Stadium, USC and Hollywood Burbank Airport as possible locations, with its recently acquired Hawthorne Airport expected to serve as the network’s central operating hub. As the official air-taxi provider of LA28 and Team USA, Archer has an unusually visible deadline for turning those plans into something tangible.

AEG and Archer have completed an initial feasibility study of the L.A. LIVE site, including reviews of land use, airspace, power availability and community impact. The next phase will examine operations and the passenger experience.

There is still a substantial distance between a proposed vertiport and a functioning air-taxi network. The infrastructure must be built, regulatory approvals must be secured and passengers must be persuaded that flying across the city is safer and more practical than staying on the ground.

Still, few locations could make that future feel more real than L.A. LIVE. Millions of people already pass through the district for concerts, games and major events. Placing a vertiport there would bring urban air mobility out of the concept stage and directly into public view.

Together, this week’s announcements show Los Angeles becoming a testing ground for two technologies still moving from promise toward everyday use.

One could reshape how entertainment is created. The other could reshape how Angelenos reach it.

In a city famous for both its creative industries and its traffic, that feels appropriately on brand.

More from this week’s LA startup and venture scene below.

🤝 Venture Deals

    LA Companies

    • Atorie raised a $9.5M seed round from investors including a16z speedrun, Night Capital and Lightspeed Venture Partners’ Jeremy Liew. The AI-powered fashion startup connects consumers directly with luxury manufacturers to offer high-quality goods without traditional designer markups, and will use the funding to expand logistics, production and its AI shopping tools. - learn more
    • Long Beach-based Maglut Heavy Industries emerged from stealth with $3.1M in pre-seed funding from Wave Function, Nova Threshold and Julian Capital. The startup is developing a chromatography-based system to process and refine rare earth elements domestically, with pilot tests producing materials at more than 99.9% purity. - learn more

    LA Venture Funds
    • MANTIS Venture Capital participated in Voya Energy’s $35M Series A, led by Energy Impact Partners and joined by John Doerr, StepStone, Founders Fund, Overmatch and Seven Stars. The Hayward-based startup will use the funding to commercialize its aluminum-fueled generators, which provide clean, off-grid power for data centers and other energy-intensive operations without combustion or local air emissions. - learn more
    • Regeneration.VC participated in eComID’s $17M seed round, led by Systemiq Capital and joined by Course Corrected, Stadium and returning investor CapitalT. The Stockholm-based startup will use the funding to expand internationally and scale its AI-powered Shopping Passport, which helps retailers personalize sizing and product discovery while reducing returns. - learn more
    • Clocktower Technology Ventures participated in Helcim’s $53M Series C, led by BDC Capital’s Growth Venture Fund and joined by new investors Curql Collective and LA-based Gold House Ventures. The Calgary payments company will use the funding to expand its platform, develop additional financial services and serve more small and midsize businesses across North America. - learn more

    LA Exits

    • Altruist agreed to be acquired by Vanguard, giving the Los Angeles-based wealth technology and custody platform greater resources to expand its tools for independent financial advisors. Altruist will continue operating as a standalone business under its existing leadership and brand after the deal closes, which is expected later this year pending regulatory approval; financial terms were not disclosed. - learn more
    • Personality AI has been acquired by WildBrain for approximately $11M in cash and 1M WildBrain shares upfront, with additional payments tied to future performance. The startup develops kid-safe conversational AI experiences for entertainment characters, including “Hey Peppa Pig,” and will help WildBrain expand its franchises into interactive products across toys, apps and digital platforms. - learn more

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      This Torrance Startup Just Raised $1B to Mass-Produce Hypersonic Missiles

      🔦 Spotlight

      Happy Friday, Los Angeles.

      Castelion has spent the past four years trying to prove that hypersonic missiles do not need to take decades to develop or cost so much that the military can only afford a limited supply.

      Now comes the harder part: producing them at scale.

      The Torrance-based defense startup raised a $1B Series C at a $13B valuation. The financing includes $800M in equity and a $250M revolving credit facility, making it one of the largest recent raises for an LA defense technology company.

      JPMorganChase’s Strategic Investment Group, Andreessen Horowitz and Carlyle co-led the round. Lightspeed Venture Partners, Lavrock Ventures, Altimeter, General Catalyst, T. Rowe Price and LA-based Interlagos Capital also participated.

      Castelion will use the capital to ramp production of Blackbeard, its low-cost hypersonic strike missile, while developing a longer-range precision weapon and new defensive systems. Hundreds of millions of dollars will go toward expanding manufacturing at Project Ranger, the company’s 1,000-acre production campus in New Mexico.

      Image Source: Castelion

      Blackbeard was designed in California, will be built in New Mexico and is expected to enter service in 2027. Castelion says it has already secured more than $500M in U.S. military contracts over the past 18 months and moved the missile from a clean-sheet concept to an official program in fewer than four years.

      That timeline is central to Castelion’s pitch. Traditional defense programs are often associated with long development cycles, limited production runs and eye-watering costs. Castelion is applying the rapid testing and vertically integrated manufacturing approach popularized by commercial space companies to weapons production.

      But a $13B valuation changes the standard. Castelion is no longer being judged as a promising startup with an impressive prototype. It is being funded like a company expected to become a major part of the American defense industrial base.

      The question is no longer whether a startup can build a hypersonic missile. It is whether one can manufacture thousands of them without losing the speed, discipline and cost advantages that made it disruptive in the first place.

      For LA’s defense ecosystem, that shift matters. The region has become home to a growing number of companies promising to modernize how America builds critical hardware. Castelion now has the capital, contracts and facilities to show what happens when that promise reaches the factory floor.

      The next test will not be in a pitch deck. It will be in production.

      More from this week’s LA startup and venture scene below.

      🤝 Venture Deals

        LA Companies

        • Long Beach based Ampaire raised a $19M Series B led by DiamondStream Partners, with strategic participation from Alaska Star Ventures and IAGi Ventures, bringing its total funding to $68M. The hybrid-electric aviation company will use the capital to expand flight operations, produce additional Eco Caravan aircraft, advance regulatory certification and scale its manufacturing capabilities. - learn more

        LA Venture Funds
        • SUM Ventures participated in AssistMe’s €6.5M funding round, which was led by CRB Health Tech and Vorwerk Ventures and included several returning investors. The German care technology company will use the capital to expand across Europe, prepare for a U.S. launch and further develop alea, its digital platform for supporting caregivers and improving nursing-home operations. - learn more
        • CIV led Hypercubic’s $5.3M seed round, with participation from Y Combinator, Afore Capital, Pioneer Fund, Multimodal Ventures and several angel investors. The San Francisco startup will use the capital to develop AI agents that can analyze, document and rewrite decades-old COBOL systems, helping enterprises modernize critical mainframe software faster and with less risk. - learn more
        • Plus Capital participated in Wispr Flow’s $280M Series B, led by Menlo Ventures and joined by existing and new investors, valuing the AI voice company at $2B. The funding brings Wispr’s total capital raised to $361M and will support its expansion beyond dictation into meeting tools and proprietary speech technology, including its new Canto model. - learn more
        • Alexandria Venture Investments participated in Leal Therapeutics’ $30M Series A extension alongside new investor Eli Lilly and returning backers including OrbiMed, Newpath Partners and SV Health Investors’ Dementia Discovery Fund. The biotech company will use the funding to advance clinical trials of LTX-001 for schizophrenia and LTX-002 for ALS, with initial schizophrenia trial data expected by year-end. - learn more
        • BroadLight Capital participated in Higgsfield’s $400M Series B, led by DST Global and joined by investors including Goldman Sachs Alternatives, Smash Capital, Fifth Wall and Intel Capital. The AI video and image platform, now valued at $5.4B with $700M in annualized revenue, will use the funding for R&D, global infrastructure, AI hiring and international expansion. - learn more

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          Why Samsonite Just Paid $178.5M for BÉIS

          🔦 Spotlight

          Hello, Hello.

          This week, one of LA’s most recognizable consumer brands packed its biggest bag yet.

          Samsonite Group has agreed to acquire an 85% stake in BÉIS for $178.5M, valuing the Los Angeles-based travel and lifestyle brand at approximately $210M. The deal is expected to close in Q4, pending regulatory approval.

          Founded by actress and entrepreneur Shay Mitchell and incubated by LA-based Beach House Group in 2018, BÉIS has grown from a digitally native luggage startup into a profitable business that generated approximately $210M in sales last year. Along the way, it built the kind of fiercely loyal online following that legacy brands spend years and considerable marketing budgets trying to manufacture.

          Image Source: BÉIS

          That may be the most interesting part of this deal. Samsonite is not simply acquiring another luggage line. It is buying access to a younger, predominantly female customer base, a sophisticated direct-to-consumer operation and a brand that knows how to turn social media attention into actual sales. The suitcases are useful; the cultural relevance is the real carry-on.

          BÉIS will continue operating as a standalone brand under CEO Adeela Hussain Johnson and its existing management team. Mitchell will retain a 15% ownership stake and continue guiding the company’s creative and product vision, while Samsonite brings the global distribution, sourcing and logistics infrastructure needed to take the brand further.

          For LA’s startup community, the acquisition is another reminder that valuable technology companies do not always look like software companies. BÉIS built its advantage through digital distribution, community and an unusually sharp understanding of its customer. Now, one of the world’s largest luggage companies wants what it created.

          Sometimes the strongest exit starts with knowing exactly what people want to pack.

          More from this week’s LA startup and venture scene below.

          🤝 Venture Deals

            LA Companies

            • Heaviside Industries raised a $60M Series B to accelerate the development and production of its autonomous precision munitions for U.S. and allied forces. The company also announced a strategic partnership with defense manufacturer Nammo, combining Heaviside’s autonomous weapons technology with Nammo’s expertise in propulsion, warheads and large-scale munitions production. - learn more
            • Alex Cooper and Matt Kaplan’s media company Unwell received its first outside investment from WTSL, giving the profitable business a $500M pre-money valuation. Unwell, which reaches a reported 70M women each month through podcasts, film and television, live events, consumer products and a creative agency, will use the capital to pursue acquisitions, make investments and expand into new business lines. - learn more
            • Neros raised a $250M Series C at a $2.5B valuation, with participation from LA-based Interlagos, MANTIS Venture Capital and Thiel Capital. The El Segundo defense startup will use the funding to scale its autonomous strike and interceptor drone programs, expand production and strengthen its domestic supply chain as demand grows from the U.S. military and allied forces. - learn more
            • FriskAI raised $3.6M from MaC Venture Capital to expand its observability and security platform for AI agents. The startup helps companies monitor what autonomous agents do in real time, giving teams greater visibility into agent behavior and helping them identify errors, risks and unexpected actions. - learn more
            • Diald raised $1M in follow-on funding led by Feedback Ventures, bringing its total funding to $4.75M. The company also launched a rebuilt conversational AI platform that lets commercial real estate investors create pro formas and evaluate zoning, permits, neighborhood sentiment and other property risks through plain-language prompts. - learn more

            LA Venture Funds
            • Alexandria Venture Investments participated in Khartis Therapeutics’ $50M Series B, led by Forge Life Science Partners, bringing the San Diego biotech’s total funding to $95M. Khartis will use the capital to advance its lead oral treatment for thyroid eye disease and expand its pipeline of small-molecule immunology drugs. - learn more
            • Finality Capital Partners co-led Entravel Group’s $7.5M funding round alongside Ethereal Ventures, with participation from GSR, Varrock, G1 Ventures, Seier Capital, Veris Ventures, Funfair Ventures and WTG Ventures. The traveltech company will use the capital to expand its white-label hotel-booking infrastructure beyond crypto platforms and develop a stablecoin-powered system for settlement, treasury and working-capital financing. - learn more
            • Regeneration.VC participated in Clarity Systems’ $4.4M seed round, led by LMnT Ventures and joined by Humba Ventures and Massive Technology Ventures. Clarity uses X-ray imaging, computer vision and AI to detect counterfeits, product swaps and other forms of returns fraud in seconds without opening the package. - learn more
            • CIV participated in AGent Energy’s $11M Series Seed round alongside existing investor Zero Infinity Partners, with Spero Ventures and MassMutual Ventures co-leading and Intrepid Investment Management also joining. The Houston startup uses AI-powered hardware and software to turn largely idle backup generators into on-demand grid capacity during emergencies, and the new funding brings its total raised to $17M. - learn more
            • Smash Capital co-led CodeRabbit’s $143M Series C alongside Atomico, valuing the AI code-review company at $1.5B. CodeRabbit will use the funding to expand internationally and develop its new Agentic Change Management platform, which helps companies review, govern and monitor software created by both humans and AI agents. - learn more
            • Multiball Capital backed Soctera’s $4M seed round alongside Anorak Ventures, with additional participation from 9Yards Capital, Mana Ventures and Red Bear Ventures. The Cornell spinout will use the funding to develop heat-efficient power amplifiers designed to improve the range, signal quality and reliability of radar, electronic warfare, satellite and telecommunications systems. - learn more
            • WndrCo participated in Genera’s $10M seed round, which was led by First Round Capital and also included BoxGroup, Carpenter Capital and Success Venture Partners. Genera will use the funding to scale its AI platform, which automates the often labor-intensive process of deploying enterprise software, including customer discovery, data migration and system configuration. - learn more
            • M13 co-led Baselayer’s $20M Series A alongside Koro Capital, bringing the fintech startup’s total funding to approximately $47M. Baselayer will use the capital to enhance its AI-powered platform, which helps banks, fintech companies and government agencies automate business verification, risk assessment and fraud monitoring. - learn more

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