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Hebron Sher remembers daydreaming in 2019 when Elon Musk promised Tesla’s cars would become robotaxis, capable of going out in the world to make money for owners. Sher was already a user of the car-sharing platform Turo, and the idea of turning a Tesla into an even bigger moneymaker was an attractive proposition. But as…
Welcome to Startups Weekly — your weekly recap of everything you can’t miss from the world of startups. Want it in your inbox every Friday? Sign up here. You’d think WWDC would cause a lull in startup news. But not in June, when everyone is eager to announce their latest deals — or even to…
Geothermal frontrunner Fervo Energy said Wednesday that it had secured $206 million in financing to continue work on a new power plant in Utah. The startup is developing what promises to be the largest enhanced geothermal power plant in the world. The initial phase of Cape Station is expected to come online next year and…
Standard Nuclear emerged from stealth Wednesday with $42 million in funding to make advanced nuclear fuel. Except Standard Nuclear isn’t an entirely new company. Rather, it’s built on assets purchased at auction following the bankruptcy of the Ultra Safe Nuclear Corporation (USNC) for $28 million. The new company’s CEO, Kurt Terrani, served as vice president…
Commercial nuclear fusion power isn’t a reality yet. But venture capital is flowing into startups that promise that clean, safe, and virtually limitless energy is no longer just a distant dream. Most fusion companies that have raised over $100 million are based in the United States. Not Proxima Fusion, a German startup that has just…
Dutch payments firm Adyen now has a market cap of over $61 billion, but that didn’t stop its cofounder Arnout Schuijff from stepping down in 2021 to focus on his new startup, Tebi. Now an Amsterdam-based fintech startup with 35 employees, Tebi helps restaurants, bars and other hospitality businesses manage their operations with an all-in-one…
XRobotics thinks it has cracked the code on getting pizza restaurants to adopt robotics. The San Francisco-based robotics company built a countertop robot called xPizza Cube, which is roughly the size of a stackable washing machine, and uses machine learning to apply sauce, cheese and pepperonis to pizza dough. The machines, which lease for $1,300…
Anysphere, the maker of AI coding assistant Cursor, has raised $900 million at a $9.9 billion valuation, Bloomberg reported. The round was led by returning investor Thrive Capital, with participation from Andreessen Horowitz, Accel, and DST Global. The massive round is Anysphere’s third fundraise in less than a year. The 3-year-old startup secured its previous…
Nobody said that commercializing fusion power would be cheap or quick. TAE Technologies said this week it raised another $150 million in a funding round that included investments from existing backers Google, Chevron, and New Enterprise associates. By the nearly 30-year-old company’s counting, it’s TAE’s 12th round of investment. To date, it has raised…
Billionaire Elon Musk’s AI startup, xAI, is reportedly launching a $300 million share sale that values the company at $113 billion. According to The Financial Times, the secondary stock offering, which comes after xAI acquired Musk’s social media platform, X, for $33 billion, will allow staff to sell shares to new investors. The tender offer…