TechCapsules

Food delivery startup Wonder, founded by Marc Lore in 2018, confidentially filed for an IPO, marking a key milestone after years of fundraising, acquisitions, and expansion. The company, valued at roughly $9 billion after a recent $650 million round, has evolved from a delivery app to a food‑technology platform that operates food‑hall‑style locations, handles meal prep, and offers dine‑in service. Wonder plans a major Texas push, has acquired Blue Apron, Grubhub, Tastemade, and Spyce, and partnered with DoorDash for campus dining. [...]

Palo Alto Networks is negotiating to acquire Clutch Security, a three‑year‑old startup that protects AI agents’ access to enterprise systems, for $500 million in cash plus milestone‑based earn‑outs. Clutch, last valued at $85 million after a $20 million Series A in January 2025, is nearing $10 million in annual recurring revenue, implying a purchase price of roughly 50 times ARR, a typical software multiple. The deal would be Palo Alto’s seventh acquisition this year, following purchases of Console, Embrace, Chronosphere and Koi, as [...]

Thermal Dawn, an Australian startup, unveiled a thermal‑storage system that replaces gas boilers with a heat‑pump, insulated water tank and phase‑change material (PCM) battery. The unit stores heat up to 70 °C or cools to 5 °C, then releases it through existing radiators or under‑floor circuits, eliminating the need for gas during peak hours. At a recent Everything Electric expo, hundreds of visitors—many already equipped with solar—examined the technology, and the company reported two pilot installations in Melbourne and [...]

The New York Times Company has entered exclusive negotiations to purchase Letterboxd, a social networking site for film enthusiasts, for roughly $330 million, according to a report published by the Times itself. Letterboxd, often described as a Goodreads‑style platform for movies, has expanded its user base from 3 million in early 2021 to 28 million by April 2024, with more than half of members under age 35. The service remains free but offers a paid tier with advanced features, and [...]

Zipline raised $1.5 billion, boosting its valuation to $21.5 billion, and expanded its partnership with Walmart to add 300 drone‑delivery sites across the United States. The new multi‑year agreement builds on a 2021 deal that covered 21 sites, marking a substantial scale‑up. Funding was led by Paradigm, WCM Investment Management, and Layer Global, with participation from Valor Equity Partners, Fidelity, Uber, Tiger Global, J.P. Morgan, ARK Invest, and Salesforce Ventures. Zipline plans to use the capital to expand U.S. manufacturing [...]

Axiom Math, a $1.6 billion startup, announced on Wednesday that it has formally verified the Stacks Project, a 7,654‑page open‑source compendium of algebra, geometry and number theory. Using its own AI agents, the company translated the library into roughly 16 million lines of Lean code, preserving every logical connection across the massive hierarchy of theorems. The effort required a loosely structured, parallel workflow that let agents self‑assign tasks and develop a “taste” for mathematical rigor. CEO Carina Hong, a former [...]

SuperMatics, a Berkeley‑based startup, is developing AI‑driven superconducting materials that can be manufactured into affordable wire for data centers, quantum computing, and fusion magnets. The company’s multimodal foundation models predict material properties, generate synthesis recipes, and simulate finished wires, continuously retraining with experimental data from UC Berkeley and Georgia Tech. SuperMatics is negotiating joint development programs with global materials firms and will showcase its approach at the Plug and Play Silicon Valley Summit on November 5. [...]

TechCrunch Founder Summit 2026 opened at 9 a.m. ET in Boston’s SoWa Power Station, drawing founders, investors, and startup leaders for a full day of panels, roundtables, and networking. The event featured expert speakers such as Toast’s Steve Fredette, Techable Ventures’ Amulya Vishwanath, and NEA’s Hunter Worland, covering topics from fundraising and product‑market fit to AI opportunities and scaling strategies. Attendees could secure discounted passes before 9 a.m., with the final registration deadline at the event’s start. [...]