Top News

Construct Capital raises $300 million Fund III to back founders across manufacturing, logistics, transportation, defense, and energy.

Rivian reports just 8,640 vehicle deliveries in Q1 2025, a 36% drop YoY.

The S&P 500 drops 4.8% on news of the Trump administration’s tariff plan.

Timeline

Massive Fundings

Retym, a 4-year-old Cupertino, CA startup that provides production of chips for AI data centers, raised a $75.0 million Series D led by Spark Capital with participation from Mayfield and Kleiner Perkins. More here.

Aetherflux, a 1-year-old San Carlos, CA startup that provides satellite-based solar power, raised a $50.0 million Series A led by Index Ventures and Interlagos with participation from Breakthrough Energy Ventures, Andreessen Horowitz, NEA, and Jared Leto. More here.

Chef Robotics, a 6-year-old San Francisco, CA startup that provides robotic systems for meal assembly, raised a $43.0 million Series A led by Avataar Ventures with participation from Construct Capital, Bloomberg Beta, Promus Ventures, MFV Partners, Interwoven Ventures, HCVC, MaC Venture Capital, Red and Blue Ventures, Tau Partners, Alumni Ventures, Siddhi Capital, and BOLD Capital Partners. More here.

Nanoprecise, an 8-year-old Edmonton, Canada startup that provides a predictive maintenance platform for industrial equipment, raised a $38.0 million Series C led by Yaletown Partners and BDC Capital with participation from Export Development Canada and BMO Capital Partners. More here.

LightSource, a 4-year-old San Francisco, CA startup that provides an AI-powered procurement intelligence platform, raised a $33.0 million financing led by Bain Capital Ventures and Lightspeed Venture Partners. More here.

Aleph Farms, an 8-year-old Rehovot, Israel startup that produces whole-cut cultivated steak, raised a $29.0 million financing from undisclosed investors. More here.

Mid-Size Fundings

Dyna Robotics, a 1-year-old Redwood City, CA startup that develops AI-powered robotics, raised a $23.5 million Seed led by CRV and First Round Capital. More here.

Fourier, a 3-year-old Fremont, CA startup that provides development of compact hydrogen electrolyzers, raised a $18.5 million Series A led by General Catalyst and Paramark Ventures with participation from Airbus Ventures, Borusan Ventures, GSBackers, MCJ Collective, and Positive Ventures. More here.

Buildvision, a 2-year-old New York, NY startup that provides a construction material procurement platform, raised a $10.0 million Series A led by Norwest Venture Partners with participation from Crosslink Capital. More here.

Crstl, a 4-year-old San Francisco, CA startup that provides an EDI integration platform, raised a $10.0 million Series A led by Mosaic General Partnership and Cohen Circle Fintech Ventures with participation from Shopify Ventures. More here.

Beagle, a 6-year-old Hamburg, Germany startup that provides an energy infrastructure monitoring platform via drones, raised a $5.4 million Seed led by AENU and PT1. More here.

Smaller Fundings

All Gravy, a 5-year-old Copenhagen, Denmark startup that provides a workforce management platform for retailers and restaurants, raised a $2.9 million Seed led by Scale Capital and Moonfire Ventures with participation from Alexander Aghassipour, Jeppe Rindom, and Fredrik Hjelm. More here.

OpenTug, a 6-year-old Los Angeles, CA startup that provides a coastal maritime logistics platform, raised a $2.2 million financing led by TMV. More here.

AdvancedAg, a 24-year-old Raymond, Canada startup that produces microbial agricultural products, raised a $2.0 million Seed led by Raven Indigenous Capital Partners. More here.

Exits

Coreweave, an 8-year-old Livingston, New Jersey startup that provides high-powered compute for AI, raised $1.5 billion in an IPO with at a $23.0 billion valuation. More here.

Thanks for Reading!

• Interested in industrial tech? Reach out on X and LinkedIn where I share other informational content.

• Check out past issues here.

• Anything else on your mind? Reply to this email to say hi! I’d love to hear from you.

-Greg