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  • Robinhood’s Retail VC Fund, TikTok’s Survival Deal, & Figure Hits $39B

Robinhood’s Retail VC Fund, TikTok’s Survival Deal, & Figure Hits $39B

Retail investors get a new way into startups, TikTok avoids a US ban, and Figure cements its place among AI’s most valuable.

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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…

 🌿 🏹 Robinhood files to launch its first retail-accessible venture fund, opening startup equity to public investors.

🇺🇸🇨🇳 TikTok escapes a US shutdown with a Trump–Xi deal spinning out US operations while licensing ByteDance’s algorithm.

🤖 Figure AI reaches a $39B valuation, joining the top tier of frontier AI startups.

🚗 Rivian breaks ground on a $5B EV plant in Georgia, set to boost US manufacturing.

💊 Modern Animal secures $46M Series D to expand its tech-enabled veterinary clinic network.

💼 OpenAI hires former xAI CFO Mike Liberatore, strengthening its finance team as AI competition heats up.

🧑‍🚀 Top 3 Deals You Can’t Miss

1️⃣ Divergent Technologies – $290M Series E to scale its adaptive manufacturing system for aerospace and defense.


2️⃣ Nothing – $200M Series C at $1.3B valuation, pushing forward its AI-first smartphone strategy.


3️⃣ Figure AI – $39B valuation in latest round, solidifying its place as a frontier AI leader.

🧠 Dopamine Dealflow

🌳 Series B+ & Growth

  • Figure AI (Sunnyvale, CA) – $39B valuation in latest round; frontier humanoid robotics + AI.

  • Divergent Technologies (Torrance, CA) – $290M Series E; Hexagon leads; adaptive manufacturing for aerospace/defense.

  • Nothing (London, UK) – $200M Series C; Tiger Global leads; design-forward smartphones, prepping AI-first device.

  • Shop Circle (London, UK) – $100M Series B (incl. $60M equity + strategic); enterprise AI-driven software suite.

  • Tabs (NYC, US) – $55M Series B; Index Ventures leads; AI-native revenue platform for finance teams.

  • Arch (NYC, US) – $52M Series B; Menlo Ventures leads; digital platform for tracking private market investments.

  • GreenLite (NYC, US) – $49.5M Series B; Insight Partners leads; AI-powered construction tech + permitting platform.

  • MarqVision (Los Angeles, CA) – $48M Series B; DST Global leads; AI-managed brand protection service.

  • Modern Animal (Los Angeles, CA) – $46M Series D; Addition leads; tech-enabled veterinary clinic network.

  • WorkFusion (NYC, US) – $45M growth round; Georgian + Serengeti lead; AI agents for financial crime compliance.

  • Nory (London, UK) – $37M Series B; Accel leads; AI-native restaurant management for hospitality.

🚀 Series A

  • Dyna Robotics (Redwood City, CA) – $120M Series A; General Catalyst + Founders Fund; embodied AI robots.

  • Birches Health (Boston, MA) – $20M Series A; AlleyCorp, General Catalyst; platform tackling gambling addiction.

  • BIOWEG (Quakenbrück, Germany) – €16M (~$17M) Series A; High-Tech Gründerfonds; biodegradable microplastics replacement.

  • Alice Mushrooms (US) – $8M Series A; VMG Partners; functional chocolate brand with mushrooms.

  • Genoskin (Toulouse, France) – $8.7M Series A; LBO France leads; CRO with ex vivo human skin platforms.

  • Plumerai (London, UK/Amsterdam, NL) – $8.7M Series A; Crane Venture Partners; ultra-low power AI for cameras.

  • Clarity (London, UK) – $12M funding (Series A-like); Molten Ventures; AI-powered customer experience & VoC platform.

🌱 Seed & Early Rounds

  • Envive (US) – $15M Seed; AI shopping agents for retail.

  • DianaHR (San Francisco, CA) – $3.7M Seed; SNR Ventures, General Catalyst; AI-powered HR-as-a-Service for SMBs.

  • uiAgent (NYC, US) – $4.6M Seed; Lightspeed + Neo; AI agents for accounting firms.

  • Nestimate (Lincoln, NE) – $3M Seed; TTV Capital; 401(k) analytics + income solutions platform.

  • Demand AI Group (Denver, CO) – $2.5M Seed; private backers; AI-driven B2B marketing + lead-gen.

  • Ethosphere (Seattle, WA) – $2.5M Pre-Seed; Madrona; voice AI for retail ops.

  • MedSetGo (San Francisco, CA) – $2.4M Seed; 500 Global; AI for patient care transitions.

  • AtlasNova (Cupertino, CA) – $2.3M Seed; Ulu Ventures; intelligent automation for SMB workflows.

  • Epoch Protocol (Singapore) – $1.2M Seed; Figment Capital; Web3 intent-solver coordination layer.

🤝 Strategic, M&A & Undisclosed

  • Opus (London, UK) – acquired embarc; founder-focused entrepreneurship community integration.

  • OMNIA Partners (Franklin, TN) – received strategic investment from CapitalG; public/private group purchasing org.

  • Microamp (Warsaw, Poland) – undisclosed strategic funding; advanced 5G mmWave connectivity.

  • CommonAI (London, UK) – launched by Anthemis + Cambridge AI Ventures; AI collaboration platform for startups + enterprises.

  • Pantera Capital + Summer Capital – backed new Solana treasury company; supporting blockchain infra growth.

📈 IPOs / Direct Listings / Issuances / Block Trades

  • SumUp (UK) – preparing London IPO at $10B–$15B valuation; card reader + fintech platform.

  • Verisure (Switzerland) – $3.5B IPO planned; largest European listing since 2022; backed by Hellman & Friedman.

  • StubHub (US) – $850M IPO; 20x oversubscribed ticketing marketplace.

💸 VC Funds Raised & Raising

Founders: Want to be featured on @tradedvc? → traded.co/submit/vc

📚 Read of the Day

TikTok Survives the Chop in Trump–Xi Deal

ByteDance agrees to spin out US operations while licensing core algorithm and IP.

What Happened:
TikTok will remain live in the US after a high-stakes agreement between President Trump and President Xi. Under the deal, ByteDance will spin off US operations into a new entity, while licensing its algorithm and intellectual property back to the new company. Oracle will maintain its cloud hosting deal, and Silver Lake is expected to join as a new investor.

The Strategy

For Washington, the deal secures US control over TikTok’s operations while preserving access to the algorithm. For Beijing, licensing preserves Chinese intellectual property rights while defusing geopolitical pressure. The investor consortium gains a chance to own one of the most valuable consumer internet assets in America.

The Backstory

The push to force ByteDance to divest TikTok’s US business has been years in the making, with national security concerns around data access driving bipartisan support. This agreement represents a rare point of alignment between Trump and Xi, signaling pragmatism amid ongoing tensions.

Why It Matters

For investors, the deal removes the existential threat hanging over TikTok’s US operations, paving the way for future growth and potentially a blockbuster IPO. It also sets a precedent for how governments may force structural changes on foreign-owned consumer tech platforms.

📰 News You Don’t Want To Miss

🇺🇸🇨🇳 TikTok survives US–China deal, keeps operating in America — Trump and Xi finalize ByteDance spinout framework.

💸 Robinhood to launch first retail-accessible venture fund — SEC filing opens startup equity to public investors.

🚗 Rivian breaks ground on $5B EV factory in Georgia — Construction starts 2026; key boost for US EV capacity.

😴 Calm launches standalone sleep app for iOS — Meditation unicorn doubles down on sleep-focused tools.

🤖 OpenAI hires ex-xAI CFO Mike Liberatore — Strengthening finance bench as AI scale accelerates.

👓 Meta’s smart glasses leak teases new displays — Expected to debut at Meta Connect this month.

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