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Time’s running out — 4 days left to save over $300 on Founder and Investor Passes for TechCrunch All Stage! Founders, accelerate your journey. Investors, fuel their success. Join us on July 15 at SoWa Power Station in Boston, MA, for TC All Stage, where 1,200 founders and VCs come together to scale from seed…
Digital banking startup Mercury has raised $300 million at a $3.5 billion post-money valuation, the company confirmed to TechCrunch on Wednesday. The valuation is more than double the startup’s valuation when it last raised capital – a $120 million Series B round in 2021 that valued the company at $1.62 billion post-money. Sequoia led the…
FuriosaAI, a South Korean startup that makes chips for AI applications, has rejected an $800 million acquisition offer from Meta, opting instead to focus on developing and producing its AI chips, according to a local media report. Disagreements over post-acquisition business strategy and organizational structure, rather than price issues, caused the negotiations to break down,…
A new report showcases the 20 top-trending open source startups around the world, more than half of which are closely aligned with AI. The report is the handiwork of European venture capital firm Runa Capital, which has operated the Runa Open Source Startup (ROSS) Index since 2020. The Index serves quarterly updates on the fastest-growing…
Factories are all the rage in defense tech: Anduril announced a billion-dollar “megafactory” in Ohio earlier this year, while Saronic said last month it’s planning its own factory to mass-produce autonomous warships. Now, Anduril is considering building a factory in the U.K. as it expands beyond U.S. defense contracts. “If we get enough orders, absolutely…
A Swedish startup aiming to build a hyperscale cloud company in Europe has raised €50.6 million ($55 million) in Series A funding. Evroc, as it’s called, says it’s laying the foundations for a “secure, sovereign and sustainable hyperscale cloud to reimagine the digital future of Europe.” The announcement comes amid growing calls to create a…
Pruna AI, a European startup that has been working on compression algorithms for AI models, is making its optimization framework open source on Thursday. Pruna AI has been creating a framework that applies several efficiency methods, such as caching, pruning, quantization and distillation, to a given AI model. “We also standardize saving and loading the…
Debt collection in emerging markets often feels outdated and can be costly — damaging borrower trust. As consumer lending surges and regulators push for fairer practices, legacy collection outfits are struggling to maintain pace. ClearGrid aims to help modernize debt collection — and recovery — with AI. The Dubai-based startup, which is emerging from stealth…
Nvidia has reportedly acquired Gretel, a San Diego-based startup that’s developed a platform to generate synthetic AI training data. Terms of the acquisition are unknown. The price tag was said to be nine figures, exceeding Gretel’s most recent valuation of $320 million, according to Wired. Gretel and its team of roughly 80 employees will be folded…
After hitting record lows at the start of the pandemic, mortgage rates began to climb in 2022 and haven’t come down significantly since. With 30-year mortgage rates hovering at over 6.5% today (they were as low as 2.49% in 2020!), buying a home is simply not that attainable for many people. One Denver-based startup is…