TechCapsules

Dawn Aerospace has secured $25 million in funding to scale up its work in in-space transportation and suborbital spaceplanes. The company, valued at $196 million, plans to use the funding for a global rollout of its services, establishing teams in the United States and Europe. Dawn currently sells thrusters for spacecraft and has grown its annual revenue from $3 million in 2022 to $15 million, with the company now cash-flow positive. The company is developing an in-space [...]

Critical Energy, a startup founded by SpaceX alum Spencer Jackson, has raised $22 million to develop modular turbines for geothermal power plants. The company aims to fill a gap in the market by providing turbines tailored to geothermal power plants, with the funds earmarked to build its first 2.5 megawatt project. Geothermal energy has significant potential, with at least 42 terawatts of capacity available worldwide, and Critical Energy hopes to play a key role in its development. [...]

Pramaana Labs has announced a $27 million seed funding round led by Khosla Ventures, with participation from several other investors. The startup aims to bring formal verification to AI, focusing on sensitive verticals like law, drug discovery, and tax preparation where errors can be costly. Pramaana's system combines a conventional large language model with a deterministic layer, using the open-source LEAN programming language to verify mathematical proofs. The company will build formal verification systems for each use [...]

Atom Computing has surpassed $300 million in cumulative capital to accelerate the commercial manufacturing and field deployment of its fault-tolerant computing platforms. The milestone is driven by a finalized $100 million Series C equity investment round and a signed Letter of Intent from the U.S. Department of Commerce outlining an additional $100 million federal capital allocation. Atom Computing has successfully demonstrated full quantum error correction protocols on operational hardware, establishing it as the first to validate functional [...]

Katalyst Space Technologies has raised $12 million for a geosynchronous orbit demonstration mission. The funding will support development of its first Nexus spacecraft, scheduled to launch in 2027 on an Ariane 6. Nexus-1 will approach a U.S. Space Force satellite and install a space domain awareness sensor, then conduct additional rendezvous operations. This mission follows the upcoming launch of its Link spacecraft, which will raise the orbit of NASA's Neil Gehrels Swift Observatory. The Link spacecraft is [...]

African payments infrastructure company Flutterwave has announced a Series E round, valuing the company at $3.2 billion, with an equity investment from Ripple. The company has raised over $500 million in funding to date. Flutterwave operates in 35 countries across Africa, offering solutions to simplify cross-border payments, which remain challenging due to fragmented banking systems and strict foreign exchange policies. The investment from Ripple will help expand financial services on the continent, with Ripple providing infrastructure for [...]

Sarvam has raised $234 million at a $1.5 billion valuation, becoming India's newest AI unicorn. The funding round was led by HCLTech, which invested $150 million, alongside other participants including Bessemer Venture Partners. The investment reflects a broader push for sovereign AI capabilities amid concerns over access to advanced models. Sarvam aims to build a full-stack AI business and plans to combine its models with HCLTech's enterprise relationships to build AI products. The startup's models are designed [...]

Orbio, an enterprise startup, has raised $21 million in a Series A round led by Dawn Capital to automate hiring and onboarding for frontline workers. The company uses AI agents to manage frontline employees, with customers including Poke and YUM! Brands. Orbio's AI agents can interview candidates, assess fit, and conduct daily check-ins, aiming to help businesses run their workforces autonomously. The startup has raised $26 million in funding to date and plans to use the fresh [...]