This week proved exhilarating in the startup ecosystem, as several young companies experienced warp-speed growth, and defense technology emerged as a fiercely coveted sector.
Rapid deals dominated the week, beginning notably with Israeli no-code giant Wix acquiring Base44, a startup just six months old, for $80 million in a swift, all-cash transaction. At the same time, fintech standout Ramp saw its valuation surge dramatically, reaching $16 billion just three months after completing its previous secondary sale at $13 billion.
In the realm of complex corporate alliances and rivalries, new details were revealed about Meta’s blockbuster deal to acquire a 49% stake in Scale AI for $14.3 billion, including potential dividend payouts. Following that blockbuster announcement, OpenAI swiftly severed ties with Scale AI, confirming it would no longer use the company’s data services—indicating heightened competitive tensions.
OpenAI found itself navigating sensitive partnerships as well, securing a substantial direct contract worth up to $200 million from the U.S. Department of Defense. Analysts note the move could aggravate an already delicate relationship with its strategic ally and primary investor, Microsoft.
Meanwhile, in venture funding, the defense-tech sector continued to make headlines with significant funding rounds. Applied Intuition, a leader in autonomous vehicle software with defense applications, raised $600 million at a towering $15 billion valuation. Europe’s defense darling Helsing also secured €600 million in an investment round spearheaded by Prima Materia, Daniel Ek of Spotify’s venture operation, giving the startup a robust €12 billion valuation.
Israel maintained its prominence in the startup scene with observability firm Coralogix raising a $115 million Series E, ascending firmly into unicorn territory. Alongside ramping up its global ambitions, Coralogix intends to significantly expand its presence in India, where nearly 100 of its staff are already stationed.
Mach Industries, a defense startup just two years old, confirmed a hefty $100 million funding round led by Khosla Ventures and Bedrock, catapulting its valuation to $470 million. Aspora, previously known as Vance, raised a notable $50 million Series B to bolster its remittance tools aimed at India’s global diaspora, valued at half a billion dollars.
Other significant investment news featured diverse sectors—Sword Health, initially focused on virtual physical therapy, secured $40 million at a $4 billion valuation, pushing its IPO plans to at least 2028. Multiplier Holdings garnered a combined $27.5 million seed and Series A, aiming to aggregate legacy accounting services firms and enhance them with AI technology.
Fintech innovator Grifin captured $11 million to further develop its approach of empowering consumers to invest effortlessly in brands they already patronize. Separately, payment infrastructure player Polar raised $10 million in seed funding. Its founder, previously of Tictail (acquired by Shopify in 2018), envisions creating avenues for developers and AI-first businesses to flourish. Lastly, Endeavor Catalyst ambitiously announced its pursuit of a new $300 million fund, marking an aggressive push to scale startups in rapidly developing markets globally.
Finally, entrepreneur and investor Alexa von Tobel highlighted her vision for the third generation of fintech innovation, confidently forecasting deeper, fundamental changes in product design and delivery—geared toward a digitally native, economically shifting customer base.
