Top News

Circle’s blockbuster public offering kept gaining steam Friday, with shares jumping 48% and pushing its valuation to $32 billion. Analysts said Circle's performance points to a possible resurgence for IPOs "beyond crypto." Reuters has more here. 

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Genetics Testing Startup Nucleus Genomics Criticized for Its Embryo Product: "Makes Me So Nauseous"

By Julie Bort

Nucleus Genomics, a genetic testing startup founded by 25-year-old Kian Sadeghi, initially launched in 2021 with the goal of calculating a patient’s risk for specific diseases.

But it’s been courting controversy for years with products that claim to tell people how their genetics correlate to a host of complex issues, including their IQ.

On Wednesday, it ratcheted up the controversy to an earsplitting level when it announced a new product called Nucleus Embryo with a tweet that said: “Every parent wants to give their children more than they had. For the first time in human history, Nucleus adds a new tool to that commitment.”

Nucleus says it can test IVF embryos not just for well-known specific genes that have a high chance of illnesses like breast cancer, but also for appearance — sex, height, hair color, eye color — as well as IQ and complex health attributes like anxiety and ADHD.

The launch video includes a screenshot of a comparison menu. The idea is to help parents choose which embryos to pick and which ones to, perhaps, discard.

More here. 

Massive Fundings

Aircapture, a six-year-old San Francisco startup that develops modular systems for capturing carbon dioxide directly from the atmosphere to be reused in industrial applications, raised a $50 million Series A round. Larsen Lam Climate Change Foundation was the deal lead. ESG Today has more here.

Allay Therapeutics, an eight-year-old startup based in San Jose, CA, that is developing ultra-sustained analgesic therapies designed to provide weeks of non-opioid pain relief from a single administration, raised a $57.5 million Series D round. Lightstone Ventures and ClavystBio were the co-leads. More here.

Shield Technology Partners, an eight-month-old Tampa startup that has acquired four IT services businesses in order to embed AI into their operations, raised a $100 million round co-led by Thrive Holdings and ZBS Partners. The Wall Street Journal has more here.

Big-But-Not-Crazy-Big Fundings

Crabi, a nine-year-old Mexico City startup that provides car insurance to Mexican consumers through a fully online platform that simplifies policy management and claims, raised a $13.6 million Series A round co-led by Kaszek and Ignia, with 30N, Redwood, Carao, Azuro, and Newtopia also participating. Life Insurance International has more here.

Deep Sentinel, a nine-year-old startup based in Pleasanton, CA, that provides AI-enabled live surveillance for homes and businesses through a combination of smart cameras and remote human monitoring, raised a $15 million Series B round led by Egis Capital Partners, with Intel Capital, Shasta Ventures, UP2398, and Slow Launch Fund also participating. More here.

Kargo, a six-year-old San Francisco startup that builds AI-powered systems to track and manage warehouse inventory automatically using cameras and real-time analytics, raised an $18.4 million round led by Matter Venture Partners, with Sozo Ventures, Founders Fund, Lineage, and Armada Supply Chain Solutions also taking stakes. PYMNTS has more here.

Qure Biotechnology, an eight-year-old Shanghai startup that develops antibody and protein therapeutics targeting autoimmune and inflammatory diseases, raised a $14 million Series C round. Efung Capital was the deal lead. More here.

Signify Bio, a Dallas startup founded in December that develops personalized blood tests to improve early detection and treatment of cancer by identifying immune signals, raised a $15 million round. Actium was the lead investor, with Gates Foundation Strategic Investment Fund, Danaher Ventures, Eli Lilly, and BrightEdge also chipping in. Dallas Innovates has more here.

Smaller Fundings

AgentSmyth, a two-year-old New York startup that develops agentic AI tools to support trading and investment workflows, raised an $8.7 million seed round co-led by FinTech Collective and Thomson Reuters, with BNY also taking part. More here.

Flank, a six-year-old Berlin startup that develops legal-focused AI agents to help law firms automate workflows and manage documents, raised a $10 million round led by Insight Partners, with 10x Founders and HV Capital, as well as previous investor Gradient Ventures, also stepping up. More here.

Mixus, a one-year-old San Francisco startup that develops AI agents for verifying colleague identities and facilitating workplace communication, raised a $2.6 million pre-seed round co-led by Hannah Grey VC and Verissimo Ventures, with Liquid 2, Everywhere Ventures, and OVTR also contributing. CO/AI has more here.

pWin.ai, a one-year-old startup in Tysons, VA, that helps contractors use generative AI to draft more competitive government proposals, raised a $10 million seed round led by MicroStrategy co-founder Sanju Bansal. More here.

Swap Robotics, a six-year-old Ontario startup that builds autonomous robots designed to maintain vegetation around solar fields and highways, raised a $3 million seed round. Silicon Ranch provided the funds. Renewables Now has more here.

New Funds

Amplify Partners, a 13-year-old Menlo Park venture firm that invests in startups at the intersection of software, AI, and biology, has raised $900 million in new capital. The money will be allocated across three funds: $400 million for early-stage investments, $300 million for follow-on investments, and $200 million for technical founders. More here. 

Going Public

Gemini, the ten-year-old New York crypto exchange and custodian founded by the Winklevoss twins, has confidentially filed to go public following the SEC's decision to drop an investigation of the company. CNBC has more here. 

People

Tesla VP of engineering Milan Kovac, who led development of the company's humanoid robot Optimus, has left the company for personal reasons, a setback for Elon Musk’s ambitious robotics push. The Wall Street Journal has more here. 

Anthropic just tapped Richard Fontaine, a national security insider with deep D.C. ties, to its governing trust, a clear sign the company is getting more serious about courting defense dollars. TechCrunch has more here. 

Asked by The New York Times to comment on the Elon Musk–Donald Trump bust-up, Venky Ganesan of Menlo Ventures compared Musk to Icarus. "Much better to be aligned with principles than personalities," he concluded, adding, "a lesson tech titans might want to learn." More here.

Elliot Hershberg, a former partner at Not Boring, has joined Amplify Partners as a partner. More here.

Data

Some good news: according to a new International Energy Agency report, clean energy investment is projected to reach $2.15 trillion in 2025, nearly twice the outlay for fossil fuels. TechCrunch has more here. 

Essential Reads

The Trump administration floated Tucker Carlson as a potential investor in a U.S. spinoff of TikTok, signaling a possible effort to stack its ownership with MAGA-friendly names. The Financial Times has more here. 

Speaking of TikTok, President Trump is reportedly teeing up a third extension on the TikTok ban deadline in order to buy time for a stalled investor takeover plan that China refuses to approve until broader trade negotiations are resolved. The Wall Street Journal has more here. 

According to the real estate firm CBRE, AI startups now occupy 5 million square feet of office space in San Francisco and could hit 21 million within five years, potentially cutting the city’s 35.8% vacancy rate in half. TechCrunch has more here. 

Detours

A zebra named Ed has been on the loose in Tennessee for a week, dodging drones, K9 units, and highway shutdowns; captivating locals; and turning into a full-blown internet folk hero.  

An ecologist fascinated by seagulls' willingness to eat anything and everything has set up a site called "Gulls Eating Stuff" that shows the gulls chomping down on burgers, churros, and even a rat (at the Sistine Chapel during the Papal Conclave, no less).

Retail Therapy

A $29 million Wyoming ranch where Hemingway wrote the first draft of A Farewell to Arms is up for sale, offering a 7,500-square-foot main residence, guest houses, stables, and magnificent views of the Bighorn Mountains.