Ramp reaches $60B valuation as it pushes deeper into AI

techcrunch.com Oct 15, 2026

Ramp reaches $60B valuation as it pushes deeper into AI

Curated by Shubham · TechCapsules · Oct 15, 2026

AI-summarised brief · reviewed before publication

Ramp, an expense‑management startup, closed a $1.85 billion funding round that values the company at $60 billion, up from $44 billion four months earlier. The round was co‑led by Dragoneer, Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth, with additional participation from major institutional investors. Ramp reports annualized revenue exceeding $2 billion, a 25% year‑over‑year growth rate, and an annualized purchase volume of $275 billion. The company now serves 85,000 customers, including Visa, Uber, and Shopify, and is expanding into payments, fraud detection, procurement, and AI‑powered financial tools.

💡 Why It Matters

· Ramp’s valuation surge underscores the growing demand for AI‑enhanced financial operations, positioning it as a key competitor to both traditional fintechs and emerging AI platforms.
· The company’s rapid expansion into token‑spend management signals a shift toward integrating AI infrastructure costs into core business finance workflows.

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EMode Photonix Raises $1M Pre-Seed Round Led by Ground State Ventures for…

Boulder‑based quantum photonics startup EMode Photonix closed a $1 million pre‑seed round led by Ground State Ventures, with Harlow Capital Management also investing. Co‑founders Eric Stanton and Maiya A. S. have built a multi‑physics simulation stack that accelerates non‑linear integrated photonic circuit modeling up to 1,000× faster than conventional methods, integrating thermal, RF, and optical dynamics. The funding follows years of organic growth and federal SBIR awards from NASA, NSF, and NIST, and will expand engineering staff and launch an enterprise design platform targeting quantum computing, sensing, and telecom.

💡 The speed gains enable rapid, realistic chip design, potentially shortening development cycles for next‑generation quantum and optical technologies. The investment signals growing confidence in photonic simulation tools as critical infrastructure for emerging quantum markets.

thequantuminsider.com · Oct 16

Photonics Simulation Software Startup EMode Photonix Raises $1 Million Pre-Seed

EMode Photonix, a Boulder‑based startup, secured $1 million in pre‑seed funding led by Ground State Ventures with Harlow Capital Management. The capital will support expansion of its photonics simulation platform, which claims to model nonlinear photonic circuits up to 1,000 times faster than existing tools. The software targets quantum computing and other emerging photonic applications, enabling engineers to design frequency‑conversion and quantum‑light devices more efficiently. The company plans to launch an enterprise offering for complete photonic integrated‑circuit design.

💡 By dramatically accelerating nonlinear photonics simulations, EMode Photonix could shorten development cycles for quantum‑optical components, a critical bottleneck in scaling photonic quantum technologies.

techcrunch.com · Oct 15

Intero Biosystems wants drugmakers to test on mini human intestines, not animals

Intero Biosystems, a Denver startup spun out of the University of Michigan, sells human intestinal organoids called GastroScreen that mimic the gut’s complex cell types. The 1‑mm organoids are shipped in batches of 100 and can be used to test drug safety, disease responses, or custom experiments. With seven employees and under ten customers, the company raised $2.3 million in pre‑seed funding and generated over $400,000 in revenue in its first year. FDA guidance encouraging non‑animal testing methods has spurred interest in Intero’s platform.

💡 By offering scalable, human‑relevant gut models, Intero could reduce costly late‑stage drug failures and accelerate safer therapeutic development.

thequantuminsider.com · Oct 15

Quminex Raises CAD $1.5 Million to Advance Mineral Exploration Platform

Quminex, a Canadian mineral‑exploration tech firm, secured CAD 1.5 million in pre‑seed funding led by Quantacet, with participation from QAI Ventures and angel investors. The capital will accelerate development of its Discovery Platform, which applies machine learning to geological data to generate testable mineral targets. Quminex has already completed commercial projects with a Canadian mid‑tier mining company and Tech‑X Resources, validating its technology in the field. The investment marks a key milestone in scaling the platform for critical‑mineral discovery.

💡 By turning data uncertainty into actionable targets, Quminex could shorten exploration timelines and lower costs, directly supporting Canada’s strategic supply of critical metals.

quantumcomputingreport.com · Oct 14

IonQ Announces Pricing of $2.0 Billion Equity Offering Purchased by Heights Capital…

IonQ, a quantum‑computing platform and foundry operator, priced a $2.0 billion equity offering, selling 20.5 million shares and 29.5 million pre‑funded warrants at $40.00 each—15% above its October 13, 2026 closing price of $34.78. The deal also grants seven‑year warrants for up to 100 million shares at $69.46, a 100% premium. Heights Capital Management purchased the units directly from the underwriter. Proceeds will fund commercialization, manufacturing, and deployment of IonQ’s full‑stack quantum platform, following recent DARPA, NVIDIA, and acquisition milestones.

💡 The funding positions IonQ to scale its quantum technology faster, potentially accelerating the transition of quantum solutions into mainstream computing, networking, and cybersecurity markets.

quantumcomputingreport.com · Oct 14

New York City and NYU Partner to Launch $284 Million Quantum Fabrication…

New York City Mayor Zohran Kwame Mamdani, Deputy Mayor Julie Su and NYC Economic Development Corp. President Anthony Shorris announced a $29.2 million municipal grant to New York University for a Quantum Fabrication Facility (QFab). NYU will contribute $255 million for construction and a decade of operating funds, creating a $284 million public‑private venture slated to open in 2030 at 770 Broadway. The 23,000‑square‑foot campus will house cleanrooms, cryogenic testbeds and advanced equipment to fabricate and prototype quantum chips. Over its first ten years QFab aims to incubate 50 startups, serve 50 external firms, and power workforce programs with CUNY and NYC public‑school partners. In return, the city gains three advisory board seats and a 15 percent share of NYU’s proceeds from IP generated on city‑funded gear.

💡 The deal gives the city a direct equity stake in emerging quantum IP, turning public funding into a long‑term revenue stream and positioning New York as a hub for quantum manufacturing talent.