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- $200M Kraken Raise • $298M Function Health B Round • $250M Suno Series C • $71B Paramount–WBD Bid • Adobe To Buy Semrush for $1.9B • $100M Ursa Major Series E
$200M Kraken Raise • $298M Function Health B Round • $250M Suno Series C • $71B Paramount–WBD Bid • Adobe To Buy Semrush for $1.9B • $100M Ursa Major Series E
Major consumer AI, healthtech, media megadeals, and defense all make major moves in today’s lineup.

Your dose of daily dealflow, essential VC & tech trends to know. The biggest moves in venture, all in one place. Celebrating startups, founders, and funders.

🧑🍳 Let’s get right into it…
🎵 Suno secures $250M as AI music generation becomes a breakout consumer category.
🏥 Function Health raises $298M to scale full-stack preventative diagnostics.
🚀 Kraken pulls in $200M as institutional confidence returns to crypto infrastructure.
🎬 Paramount Skydance and Gulf SWFs prepare a massive $71B bid for Warner Bros. Discovery.
🎨 Adobe acquires Semrush for $1.9B to expand its AI-powered marketing suite.
🧑🚀 Top Deals You Can’t Miss
1️⃣ Kraken – $200M growth raise as crypto infrastructure re-enters institutional focus.
2️⃣ Function Health – $298M Series B, pushing preventive, data-driven healthcare mainstream.
3️⃣ Suno – $250M Series C, cementing AI-generated music as one of the fastest-growing consumer AI categories.

🧠 Dopamine Dealflow
🌳 Series B+ and Growth
Kraken, a US-based cryptocurrency exchange, raised $800M in late-stage funding. Institutional investors, including Citadel Securities, joined the round.
Function Health, an Austin-based preventive health platform, raised $298M in Series B funding led by Redpoint with participation from a16z and others.
Suno, a Cambridge-based AI music platform, raised $250M in Series C funding led by Menlo Ventures.
Federato, a San Francisco-based AI insurance underwriting platform, raised $100M in Series D funding.
Venn, a NYC-based multifamily housing operating system, raised $52M in Series B funding.
GoTu Technology, a Miami based dental talent marketplace, raised $45M in growth financing led by Long Ridge Equity Partners.
Agentio, a NYC-based AI-native creator advertising platform, raised $40M in Series B funding led by Forerunner.
VahatiCor, a Santa Clara-based cardiovascular medtech company, raised $23M in Series B funding.
🚀 Series A
Amperesand, a San Francisco-based AI data center power infrastructure company, raised $80M in Series A funding led by Walden Catalyst and Temasek.
Maxima, a San Mateo-based agentic AI accounting platform, raised $41M across Seed and Series A rounds.
Chargeflow, a NYC-based chargeback automation platform, raised $35M in Series A funding, including a $10M debt facility.
Nudge Security, an Austin-based AI security governance platform, raised $22.5M in Series A funding.
Flocean, an Oslo-based subsea desalination startup, raised $22.5M in a Series A extension round.
Peec AI, a Berlin-based AI marketing platform, raised $21M in Series A funding led by Singular.
Modern Life, a NYC-based AI-driven life insurance brokerage, raised $20M in Series A funding led by Thrive Capital.
OpenHands, a Boston-based cloud coding agent platform, raised $18.8M in Series A funding led by Madrona.
Infracost, a San Diego-based cloud cost visibility platform, raised $15M in Series A funding.
Jiga, a San Francisco-based AI sourcing platform, raised $12M in Series A funding.
Dost, a Barcelona-based financial automation platform, raised £6M in Series A funding.
🌱 Seed and Early Rounds
Method Security, a NYC-based autonomous cybersecurity platform, raised $26M across Seed and Series A. Seed was led by a16z and Series A by General Catalyst.
Hammerhead AI, a San Francisco-based ORCA RL control agent platform, raised $10M in Seed funding.
Emm, a London-based menstrual care biowearable company, raised $9M in Seed funding.
Chromologics, a Copenhagen based natural colors biomanufacturing company, raised €7M in early stage funding.
UbiQD, a New Mexico-based quantum dot company, received $6M in debt financing.
Moment Energy, a Vancouver-based EV battery repurposing startup, secured $5M in growth financing.
Asseta AI, a NYC-based accounting stack for family offices, raised $4.2M in Seed funding.
Kaaj, a San Francisco-based agentic AI credit intelligence platform, raised $3.8M in Seed funding led by Kindred Ventures.
TAHO, a Florida-based compute infrastructure startup, raised $3.5M in Seed financing.
Freya, a San Francisco-based voice AI call automation platform, raised $3.5M in Seed funding.
Thrivory, a NYC-based healthcare AI claims settlement platform, raised $3.5M in equity and secured up to $25M in credit.
Scale Social AI, a Durham based marketing tech company, raised $1.3M in Pre Seed funding.
🤝 Strategic, M&A and Undisclosed
Paramount Skydance with PIF, QIA, and ADIA is preparing a $71B cash and stock bid for Warner Bros. Discovery.
AkzoNobel and Axalta Coating Systems agreed to merge in an all stock deal creating a $25B global paint giant.
ExxonMobil, Chevron, and ADNOC are exploring a $20B acquisition of global assets from Lukoil.
GBA Group, backed by Ardian, is exploring a sale at a $1.7B valuation.
Raith, backed by Capiton, is considering a sale at a $1.2B valuation.
Leonard Green is acquiring 60% of Topgolf at a $1.1B valuation.
AB InBev is in advanced talks to acquire BeatBox for $700M.
ING Bank Slaski is acquiring the remaining 55% of Goldman Sachs TFI for $108M.
DealHub.io acquired Subskribe to expand its revenue and billing stack.
Lifordi Immunotherapeutics received an undisclosed strategic investment from Sanofi Ventures, ARCH, 5 AM, and Atlas.
Imbria Pharmaceuticals extended its Series B with an undisclosed investment from AXA IM Alts.
Azul received an undisclosed investment from Thoma Bravo.
ShorePoint received an undisclosed investment from CM Equity Partners.
VenstraMedical received an undisclosed investment from Highcroft Capital.
Hermes Biosciences raised an undisclosed Seed round.
💸 VC Funds Raised
Remagine Ventures, a Tel Aviv-based early-stage AI and consumer tech fund, raised $25M for its second fund.
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📚 Read of the Day
Meta Beats FTC as Judge Declares “Social Networking” No Longer a Market
A federal judge ruled that Meta does not hold a monopoly in social networking, rejecting the FTC’s attempt to force Meta to divest Instagram and WhatsApp. The court accepted Meta’s argument that the category itself has collapsed, with TikTok, YouTube, and other platforms competing for the same user attention.
The Strategy
Meta framed the internet as an attention economy rather than a set of siloed markets. The judge agreed, finding the FTC’s definition too narrow and its evidence insufficient to prove current monopoly power.
The Backstory
The case stemmed from Meta’s 2012 and 2014 acquisitions. Regulators argued they cemented dominance; the court ruled that the competitive landscape had shifted enough to invalidate that claim.
Why It Matters
This sets a major precedent that fast-evolving categories weaken antitrust challenges. It also removes breakup risk for Meta and signals that Big Tech M&A may face fewer structural unwind threats.

📰 News You Don’t Want To Miss
🧠 Meta wins major US antitrust case ruling social networking is not a monopoly — The court determined Meta does not control a definable social networking market, which preserves its acquisitions.
🌐 Cloudflare outage takes major platforms offline worldwide — A faulty configuration file disrupted Cloudflare’s global edge network.
🎨 Adobe to acquire Semrush for about $1.9B — Adobe expands deeper into AI-powered marketing and SEO software.
🧩 Creator collectibles trend heats up — A snapshot of emerging consumer behavior around sneakers and Pokémon collectibles.

OVER AND OUT, BACK TO THE GRIND ⚙️
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