FMC Secures €100M for AI Memory Chips, Sakana AI Raises $135M, and Tether Leads $1.2B for Neura Robotics - AI Funding Brief #40

Hi there,

Welcome to this edition of the AI Funding Brief, where we delve into the latest funding and investment news in the AI business world. This week, Tokyo-based AI startup Turing has made headlines by securing $99 million in a Series A funding round, which includes investments from Denso and a syndicated loan. This funding will support Turing's development of an AI-based autonomous driving system, bringing its valuation to $388 million. Meanwhile, coding assistant Cursor has raised a staggering $2.3 billion, elevating its valuation to $29.3 billion, with significant contributions from Accel, Coatue, Nvidia, and Google.

In other news, Gamma has reached a $2.1 billion valuation following a $68 million Series B funding round led by Andreessen Horowitz. Additionally, Elon Musk has denied reports of a $15 billion funding round for his AI startup xAI. On the biosecurity front, OpenAI has invested $15 million in Red Queen Bio to prevent the misuse of AI in creating biological threats. These stories highlight the dynamic and rapidly evolving landscape of AI investments and innovations.

Elon Musk Denies $15 Billion Funding for xAI

OpenAI Invests in Biosecurity Startup Red Queen Bio

1mind Secures $40 Million for AI Sales Strategies

Dealism Raises $15M for AI Sales Agent Launch

Tether to Lead $1.2 Billion Funding for Neura Robotics

Thinking Machines Seeks $60 Billion Valuation

Tala Health Raises $100M to Boost AI in Healthcare

Turing Secures $99 Million in Series A Funding

Cursor Raises $2.3 Billion, Valuation Hits $29.3 Billion

Gamma Reaches $2.1B Valuation with New Funding

Vendep Capital, a Finnish venture capital firm, has raised €80 million to invest in early-stage B2B SaaS companies focusing on AI-first products in the Nordics and Baltics. Meanwhile, Bugcrowd has acquired AI-driven security firm Mayhem Security to enhance its security testing capabilities by integrating AI with human expertise.

CoreWeave Inc. has adjusted its 2025 revenue forecast to $5.05-$5.15 billion due to a delay in a customer contract with a third-party data center developer, while maintaining a $55.6 billion revenue backlog. Meanwhile, BrainChip Holdings has launched a $30 million underwritten placement to fund product manufacturing and operating costs, alongside a $2 million share purchase plan for R&D.

Bone AI has secured $12 million to advance AI-powered defense robotics, focusing on autonomous vehicles like drones, with funding led by Third Prime and Kolon Group. Meanwhile, Kabilio has raised €4 million to develop an AI platform for automating accounting tasks, aiming to expand across Spain and Europe.

FMC has secured €100 million to advance its AI memory chip technology, enhancing energy efficiency and performance in data centers. Meanwhile, Sakana AI has raised $135 million to develop AI models tailored to Japanese language and culture, boosting its valuation to $2.65 billion.