Instinct founder said more than 50% of transactions on the platform are travel-related

techcrunch.com Sep 29, 2026

Instinct founder said more than 50% of transactions on the platform are travel-related

Curated by Shubham · TechCapsules · Sep 29, 2026

AI-summarised brief · reviewed before publication

Founder Noah Shinn told investor Patrick O’Shaughnessy that more than half of all transactions on Instinct, the invite‑only AI personal‑assistant platform, involve travel bookings. He added that the service is nearing a billion dollars in annual transaction volume and is growing about 10 % each day, with transaction values rising at a similar pace. Shinn contrasted Instinct’s real‑time, unified interface with traditional travel sites, saying users can request urgent trips like “I need to be in New York tonight” and receive immediate checkout options. He also discussed plans to overhaul restaurant reservations, claiming AI agents could monitor availability every five seconds and prioritize special‑occasion diners, a claim that sparked criticism about potential manipulation. Instinct recently closed a $1 billion Series C round, valuing the company at $10 billion and placing it against rivals such as Meta’s Muse and Khosla‑backed Wajoin.

💡 Why It Matters

· Instinct’s rapid scaling and near‑billion‑dollar transaction flow demonstrate that AI‑driven agents are moving from demo curiosities to core commerce channels, reshaping how consumers secure travel and dining experiences.

Capsules Funding

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Ex-Tesla team raises $12.5M to put supply chains on autopilot

Atomic, a Boston‑based supply‑chain startup founded by former Tesla engineers, unveiled a fully autonomous inventory‑management platform that simulates scenarios to recommend or automatically execute decisions. The company’s annual recurring revenue has quintupled this year, attracting a $12.5 million Series A led by Klass Capital and Madrona Venture Group, bringing total funding to just over $15 million. Key clients include DoorDash and HelloFresh, with Atomic now handling up to 90 % of DoorDash’s purchasing across hundreds of sites. The platform’s AI adapts to diverse industries, from food delivery to consumer packaged goods.

💡 By automating supply‑chain decisions, Atomic accelerates response times, a critical advantage in fast‑moving markets. Its rapid deployment model demonstrates a scalable solution that can replace legacy spreadsheets, potentially reshaping operational efficiency across multiple sectors.

techcrunch.com · Sep 29

Protego Ventures closes debut $125 million fund for Israeli defense tech

Protego Ventures, a two‑year‑old Israeli venture firm focused exclusively on defense technology, has closed its debut fund with $125 million in commitments, according to an exclusive TechCrunch report. Led by veterans Lital Leshem and Lee Moser, the fund will back startups tackling Israel’s and global security challenges, allocating $5‑$50 million per company. Its first investment, drone maker XTEND, listed on the NYSE in early June and is projected to return the entire fund, prompting Protego to cap fundraising at $125 million rather than the $150 million target. Ares Management contributed $30 million as a limited partner, while other portfolio companies include situational‑awareness firm ASIO. The founders cite the October 7, 2023 Hamas attacks as the catalyst for creating a dedicated defense‑tech VC, and they plan a second fund in early 2027 with additional Israeli and U.S. backing.

💡 A single successful exit could fully fund Protego’s investors, proving that focused defense‑tech capital can generate outsized returns and encouraging more private money into Israel’s security ecosystem.

techcrunch.com · Sep 29

Peak XV ups Surge seed investment ceiling to $5M, unveils 18-startup cohort

Peak XV Partners, managing over $10 billion in assets, raised its seed‑stage investment ceiling to $5 million per startup as it launched Surge 12, a cohort of 18 companies. The firm committed more than $50 million to the batch, which has collectively secured over $90 million in seed funding. Surge 12 includes a mix of AI, robotics, space, consumer, healthcare, music and fintech ventures, with five startups targeting India and the remaining thirteen aiming at global markets. The higher ceiling reflects a shift toward capital‑intensive deep‑tech founders, noted managing director Rajan Anandan, who said Series A thresholds have risen sharply. Since its 2019 inception, Surge has backed over 180 startups across 18 nationalities, with its ten largest alumni now generating more than $1 billion in annual revenue.

💡 The increased ceiling equips early‑stage deep‑tech founders with the capital needed to reach Series A readiness, accelerating the pipeline of globally‑scaled innovations.

businessday.ng · Sep 28

Africa start-ups cross $2bn funding mark months ahead of 2024 pace

In 2026, African start‑ups collectively secured over $2 billion in venture funding, surpassing the 2024 milestone by several months. The achievement reflects a surge in investor confidence across the continent, with notable contributions from tech, fintech, and health‑tech sectors. The total funding includes both local and international investors, underscoring the growing appeal of African innovation hubs. This milestone signals a maturation of the African venture ecosystem and positions the region as a competitive player in global startup markets.

💡 The rapid funding growth demonstrates that African entrepreneurs are attracting substantial capital, reshaping the continent’s economic trajectory and challenging traditional investment patterns.

thequantuminsider.com · Sep 28

FSU Receives $2.1 Million for Quantum Communication Testbed

Florida State University secured $2.1 million in federal Community Project Funding from NIST to build a campus‑scale quantum communication testbed. The platform will link a central hub in FSU’s Interdisciplinary Research and Commercialization Building to receiver nodes at the FAMU‑FSU College of Engineering and the National High Magnetic Field Laboratory via campus fiber. Researchers will generate and distribute entangled photons, monitor link reliability, and expose optical components to controlled environmental stresses such as turbulence, high magnetic fields, and cryogenic cycling. The project aims to transition quantum communication from laboratory demonstrations to robust, real‑world systems, supporting national security and workforce development.

💡 By testing quantum links under realistic conditions, the facility will accelerate the development of secure, resilient networks essential for protecting critical infrastructure and maintaining U.S. leadership in emerging quantum technologies.

techcrunch.com · Sep 28

Source: Inference provider Modal Labs closing in on $750M round at $15.75B…

AI inference platform Modal Labs is close to securing a $750 million financing round led by Accel, valuing the company at $15.75 billion, a more than three‑fold increase from its $4.65 billion valuation four months earlier. The round, not yet disclosed publicly, follows a $355 million raise in March and comes as demand for inference services—running already‑trained models—soars, especially for open‑source workloads. Modal, founded in 2021 by former Spotify and Scale AI veterans Erik Bernhardsson and Akshat Bubna, offers developers server‑less compute for training and inference and counts customers such as Cognition, Suno, Ramp and Substack. The firm reported over $300 million in annualized revenue in May and recently weathered a security breach tied to a customer’s misconfigured endpoint, not its own infrastructure.

💡 The valuation jump underscores how quickly capital is flowing into the nascent inference layer that underpins most commercial AI products.