Techin' Geek

From the moment Apple abandoned the boat-like notch at the top of iPhones in favor of the pill-shaped Dynamic Island cutout, analysts have speculated that this would lead to a fully-screen iPhone. However, it appears that this aspiration will be postponed for at least another generation, although the pill-shaped display cutout might reduce in size next […]

Smartphone startup Nothing revealed today that it has successfully completed its Series C funding round, raising $200 million, led by the investment firm Tiger Global. Following this financing, the consumer electronics business is now valued at $1.3 billion.

Among the other investors in this round were existing supporters like venture capital firms GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry. The firm, established by Carl Pei — who previously co-founded the Chinese smartphone brand OnePlus, recognized for its high-performance devices at affordable prices — also attracted new strategic support from Nikhil Kamath and Qualcomm Ventures. This new investment elevates Nothing’s total funding to over $450 million.

“Carl and the Nothing team are redefining hardware and software by incorporating AI to prepare their products for the future of personal technology. We’re thrilled to collaborate with this outstanding team as they lead the way in AI-native experiences,” stated Matt Watcher, a partner at Tiger Global, in an interview with TechCrunch.

The company announced it would soon initiate another community funding round. In past community rounds, Nothing raised a total of $11.5 million.

The startup has focused on design innovation thus far, which has benefitted them significantly. Nothing claims to have surpassed $1 billion in total sales earlier this year. An early investor in the company expressed satisfaction with its growth trajectory and path toward profitability.

To date, the startup has dedicated time to building a supply chain and infrastructure to launch products within months and distribute them globally. Notably, its recently released Phone (3) — featuring the company’s distinct transparent design and unique user interface — was only its second device to achieve general availability in the U.S.

Nothing holds less than a 1% market share worldwide, but in India, its largest market, it has captured a 2% share, according to analytics firm IDC. The company has shipped a total of 5.1 million units, with over a million units shipped in Q2 2025 alone. IDC noted that its global expansion has been sluggish, as 80% of its sales are still in Asia.

Pei has expressed a desire to orient his brand towards a new generation of users seeking alternatives to established players.

“The manner in which we’ve set our brand apart and differentiated our products genuinely resonates with our target consumers. We’re focusing on the next generation. They have an interest in technology, creativity, and design, and we’ve truly connected with that segment of consumers,” he shared with TechCrunch during the Phone (3)’s unveiling in July.

Highland Europe partner Tony Zappalà, an existing investor in the company, noted that Nothing has fulfilled its promises and still has significant potential in this vast industry. He remarked that Nothing is now a recognized name in the sector, providing advantages in attracting talent and establishing supply chain partnerships.

AI vision

The company aims to develop an operating system with AI and personalization capabilities that may extend beyond smartphones. Currently, glimpses of AI within the operating system include features like Essential Search, a smart search tool that aids users in information retrieval across their devices. The startup has brought aboard Sélim Benayat, a former executive at Linktree and founder of Bento (a platform for creating personalized landing pages for social media), to steer its AI services initiatives.

Zappalà mentioned that creating such an operating system poses challenges related to customer experience and trust.

“I believe that the challenge of creating a successful AI-first experience is not specific to Nothing. This challenge surpasses technical hurdles; AI capabilities must evolve to a point where users are not second-guessing the results,” he explained.

Companies like Apple have faced difficulties in effectively embedding AI functionalities into their operating systems. For Nothing, the challenge lies in striking the right balance between innovation and utility while implementing AI features.

Pei maintains that smartphones are the optimal medium for delivering AI and will remain “the dominant form factor for all consumer AI applications” for a minimum of three to five years, he stated during his discussion with TechCrunch in July.

With this funding announcement, the company indicated plans to introduce an AI-driven device in the coming year. However, success stories in AI hardware are scarce. AI hardware startup Humane was acquired by HP after facing challenges with its AI Pin device, and AI assistant company Rabbit has been striving to enhance its R1 device, recently rolling out a software update following dissatisfaction with the initial version.

Rodatherm Energy, a fresh geothermal venture, surfaced from stealth mode on Monday with $38 million in investment and a vision to establish a pilot facility in Utah. 

The startup sets itself apart by utilizing a closed loop in its boreholes, likely constructed from steel and filled with a refrigerant. This differs from other enhanced geothermal firms, which typically employ water to transfer heat from the Earth’s depths.

The Series A funding round was spearheaded by Evok Innovations, with contributions from Active Impact Investments, Giga Investments, Grantham Foundation for the Protection of the Environment, MCJ, TDK Ventures, Tech Energy Ventures, and Toyota Ventures.

Rodatherm contends with strong competition from a well-established roster of players, such as Fervo Energy, Sage Geosystems, XGS Energy, and Quaise.

Fervo is regarded as the leader in this arena, having secured nearly $1 billion. The company is set to finish a 100-megawatt initial phase of its Cape Station power plant next year, with an extra 400 megawatts slated to come online in 2028. It also has an agreement to provide electricity to Google for its data centers. XGS Energy has a similar arrangement with Meta, developing a 150-megawatt power plant in New Mexico to supply energy for the tech firm’s data centers.

Rodatherm asserts that its refrigerant-based, closed-loop technique is 50% more efficient than conventional water-based systems. Air-source heat pumps, often referred to as minisplits, utilize hydrocarbon-based refrigerants to transfer heat between indoor and outdoor environments.

The startup’s patent on the innovation indicates that the closed-loop configuration will eliminate the need for filters to catch grit and debris that open-loop systems could draw up as water flowing underground dislodges rock particles. It also claims that the closed-loop system will reduce water consumption.

However, Rodatherm’s method will likely incur higher drilling and installation expenses compared to simpler systems. There’s a chance that the enhanced efficiency of its refrigerant-based design could balance out these costs, though this question remains open until the company completes a well.

The company intends to utilize the Series A funding to build a small pilot 1.8-megawatt plant in Utah, projected to be finished by the end of 2026. Utah Associated Municipal Power Systems aims to purchase electricity generated by the project.

On Monday, Alphabet surpassed a market cap of $3 trillion as investors continue to reward the company following a federal judge’s decision not to dismantle it. 

On September 2, U.S. District Court Judge Amit P. Mehta presented less severe remedies than anticipated for his ruling from a year prior that determined Google had an unlawful monopoly in search. The DOJ had suggested more stringent actions, such as forcing Alphabet-owned Google to divest Chrome. Tech firms like Perplexity and Ecosia had made unsolicited offers. However, that option has been eliminated. 

In addition to Google’s profitable search operations, its cloud computing sector is also experiencing rapid growth due to its AI capabilities. Alphabet is now in the $3 trillion club alongside Nvidia ($4.3T), Microsoft ($3.8T), and Apple ($3.5T), with Amazon trailing behind at $2.5T. 

In the midst of a continued increase in investments in defense technology, advanced manufacturing firm Divergent Technologies secured $290 million to enhance production of missile components and other specialized parts for the military.

This funding round, which places the company’s valuation at $2.3 billion, was initially reported by Bloomberg. Divergent’s clientele includes notable defense contractors Lockheed Martin, RTX, and General Dynamics.

The newly acquired funds, with $40 million allocated as debt, will assist the firm in expanding its manufacturing operations in Los Angeles and in beginning construction on a new plant in Oklahoma in the coming year. Divergent’s specialized 3D printers produce as many as 600 components, and CEO and co-founder Lukas Czinger mentioned to Bloomberg that metal missile airframes represent the company’s “core business.”

This funding highlights the desire of investors for startups that enhance America’s domestic manufacturing strength as the demand for weapons continues to put pressure on conventional supply chains.

On Monday, Robinhood revealed that it has submitted an application to the U.S. Securities and Exchange Commission to create a new publicly traded fund aimed at acquiring shares of startups.

The concept behind the “Robinhood Ventures Fund I” is to provide all retail investors the opportunity to profit from the most promising startups prior to their public offerings.

Although the current iteration of the application is accessible to the public, Robinhood has yet to include the detailed terms. Consequently, the number of shares it intends to sell and additional specifics, such as the management fee, remain unknown. It’s also uncertain which startups the fund aims to include. The documentation indicates it “anticipates” investing in aerospace and defense, AI, fintech, robotics, as well as consumer and enterprise software.  

Robinhood’s key argument is that retail investors are missing out on the profits enjoyed by startup investors like VCs. This holds some truth. “Accredited investors” — those with sufficient net worth to handle riskier investments — already have numerous avenues to acquire equity in startups, including venture firms such as OurCrowd.  

Retail investors who do not qualify as accredited have fewer options. There exist funds akin to Robinhood’s proposal, such as Cathy Wood’s ARK Venture Fund, a mutual fund that owns shares in companies like Anthropic, Databricks, OpenAI, SpaceX, and others. 

Robinhood’s previous attempt at this was met with controversy. Earlier this year, the trading company introduced what it referred to as private “tokenized” stocks in the EU, suggesting these tokens allowed retail investors to benefit financially from shares of private firms like OpenAI. However, OpenAI rejected the offering, stressing that purchasers of these tokens were not actually acquiring OpenAI stock — tokenized or otherwise. They were merely purchasing tokens linked to the valuations of a private company’s shares.

This new closed-end “Ventures Fund I” adopts a more traditional mutual fund approach. As for the availability of Robinhood’s new fund, that remains uncertain. Robinhood, currently in a quiet period, has chosen not to provide comments. 

Y Combinator held its Summer 2025 Demo Day last week, highlighting a new group of over 160 startups.

As with earlier groups, most startups showcased AI-focused solutions. However, a significant shift was noticeable. Rather than “AI-powered” products, numerous companies are now developing AI agents or the supporting infrastructure and tools necessary for their creation. For example, this cohort featured a surge of voice AI solutions and new ventures aimed at assisting others in capitalizing on the “AI economy” through ads and marketing tools.

We interviewed several YC-oriented investors to discover which startups caught their attention and which spurred the greatest investment interest.

Here are the most frequently highlighted ones:

What it does: Stripe for AI companies

Why it’s a fave: A multitude of AI startups utilizes intricate pricing models that often combine a fixed subscription fee per user with usage-based fees, credits, and a variety of additional charges. Managing such complicated AI pricing on Stripe is a labor-intensive, manual task. Consequently, Autumn created an open-source framework that streamlines Stripe integration for AI startups. The firm claims its technology is already utilized by hundreds of AI applications and 40 YC startups. Considering Stripe’s pre-eminence in payment solutions and the rapid expansion of the AI sector, could a targeted billing solution for AI become the next big success story in fintech?

What it does: Creates Vercel for AI agents

Why it’s a fave: Just as Vercel aids developers in deploying and hosting startups, Dedalus Labs asserts that its platform automates the foundational elements for crafting AI agents, reducing hours of coding to mere clicks. The firm manages complex operations like autoscaling and load balancing, which it claims makes agent deployment quick and uncomplicated.

What it does: crowdsource ratings of vibe-coded designs

Why it’s a fave: The ability of AI to swiftly produce numerous designs introduces a new challenge: determining which ones are genuinely noteworthy. Design Arena addresses this by crowdsourcing evaluations of AI-generated visuals, establishing a feedback loop that drives AI models to enhance their outputs. Major AI labs recognize the benefit of refining their models to produce superior designs, as some are already clients of Design Arena.

What it does: Tech-enabled supply distributor for retailers in Southeast Asia

Why it’s a fave: Founded by Raghav Arora at just 14 years old, Getasap Asia has established itself as a tech-integrated supplier to corner shops, restaurants, and large supermarkets in Southeast Asia, delivering products in under eight hours and generating millions in revenue. Getasap Asia completed a funding round with General Catalyst, as per its website, and it is reported that the startup’s valuation was among the highest in the entire cohort.

What it does: AI specialist that rectifies bugs in production

Why it’s a fave: Founded by 20-year-old Pablo Hansen, who obtained a master’s degree in AI last year, Keystone aims to minimize software disruptions. The company’s AI identifies and corrects bugs for clients like Lovable and has already declined a seven-figure acquisition proposal, Hansen indicated.

What it does: AI connection facilitator for female friendships

Why it’s a fave: While dating apps are plentiful, RealRoots addresses a different type of solitude. The company’s AI matchmaker, Lisa, conducts interviews with women and arranges social gatherings to link them with compatible friends. Although the AI aspect may seem superficial—conversations with Lisa likely wouldn’t yield more insights than written responses—RealRoots appears to be on the right track. Just last month, the company reported revenues of $782,000 from 9,000 paying users, according to its founders.

What it does: Streamlines insurance claims using AI

Why it’s a fave: Solva’s AI automates routine duties for insurance adjusters, ranging from completing intricate claims to averting improper payouts. Merely ten weeks post-launch, Solva has already secured $245,000 in annual recurring revenue (ARR), a milestone that has piqued investor interest.

What it does: mini-missiles for countering drones

Why it’s a fave: As China reportedly accumulates swarms of low-cost drones, the U.S. military confronts an urgent demand for budget-friendly counter-drone strategies. Perseus is creating precisely that: small missiles intended to dismantle drones at a fraction of the expense of current systems. Various branches of the U.S. military have already invited the startup to showcase its solution, which could result in substantial contracts.

What it does: AI tutor for foreign languages

Why it’s a fave: Applications like Duolingo have made learning languages engaging and accessible, but they frequently lack a crucial aspect of fluency: regular conversation. Pingo addresses this challenge by allowing users to converse with its AI, which behaves like a native speaker. The company’s innovative method is showing impressive traction, with founders claiming a 70% monthly growth and monthly revenues of $250,000.

On Monday, Kering announced a data breach impacting clients of its high-end brands including Gucci, Balenciaga, Alexander McQueen, Yves Saint Laurent, and others. 

Cybercriminals acquired sensitive customer information such as names, email addresses, phone numbers, residential addresses, and the total amount spent in their stores worldwide. The breach was initially reported by the BBC.

Kering stated that the hackers did not obtain credit card information and that it has reached out to the customers whose data was compromised, although it did not disclose how many were impacted. 

The BBC highlighted that the group responsible for the breach is a notorious collective known as ShinyHunters, which claimed to have pilfered data associated with 7.4 million email addresses.