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This week showcased the stark contrasts in how startups handle their narratives—some operate in stealth mode, while others embrace public rivalries with cinematic flair.
This Week’s Top Startup Stories
1. Corporate Espionage: Rippling vs. Deel
HR tech giant Rippling escalated its feud with compe***** Deel by releasing a bombshell affidavit from a former employee accused of corporate espionage. The document reads like a Hollywood thriller—complete with clandestine meetings and alleged data theft. Read the full affidavit here.
2. Harbinger Accuses Canoo of Bankruptcy Shenanigans
EV truck maker Harbinger filed a legal objection, alleging Canoo concealed assets during its bankruptcy proceedings. The dispute centers on CEO Anthony Aquila’s proposed acquisition of Canoo’s assets, which Harbinger claims unfairly favors insiders. Details here.
3. Qualcomm’s AI Expansion: VinAI Acquisition
Qualcomm bolstered its generative AI capabilities by acquiring VinAI’s research division, founded by ex-DeepMind scientist Hung Bui. Terms were undisclosed, but the move signals Qualcomm’s ambition to lead in on-device AI. Learn more.
4. Epic Games’ Strategic AI Play
Fortnite creator Epic Games acquired Loci, an AI platform specializing in 3D asset tagging. The deal aims to streamline content discovery and intellectual property protection. Explore the implications.
5. Perplexity CEO Denies IPO Rumors
Aravind Srinivas, CEO of AI search startup Perplexity, clarified on Reddit that the company has “no plans to IPO before 2028” and dismissed speculation about financial instability. Full thread.
VC & Funding Highlights
Mega-Rounds Dominate
- Isomorphic Labs: Google DeepMind spinout secured $600M in its first external round, led by Thrive Capital. Read more.
- Plaid: The fintech unicorn raised $575M at a $6.1B valuation, ruling out a 2025 IPO. Details.
- Temporal: Workflow automation startup landed $146M Series C at a $1.72B valuation. Coverage.
Emerging Innovators
- Retym: Stealthy AI chipmaker emerged with a $75M Series D led by Spark Capital. Full story.
- Aetherflux: Space-based solar startup raised $50M Series A, targeting a 2026 demo. Learn more.
- Roam: Mortgage-tech disruptor closed $11.5M Series A, backed by Khosla Ventures. Insights.
VC Moves
- Construct Capital: Raised $300M Fund III for manufacturing and defense tech. Announcement.
- Frank Rotman: QED Investors’ veteran is stepping down to launch his own music-tech startup. Exclusive.
Deep Dive: Intel Capital’s Next Chapter
After 34 years as Intel’s investment arm, Intel Capital is preparing to spin out. TechCrunch analyzed its legacy—including $20B+ deployed—and what independence could mean. Full analysis.
What’s Next? Stay tuned for more high-stakes startup drama, funding surprises, and tech breakthroughs. For real-time updates, follow TechCrunch on Twitter.
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