Republicans Happily Revel in Midterm Chaos in Maine

Republicans Happily Revel in Midterm Chaos in Maine

Maine is the focus this week. Political insiders within Trumpworld inform Inner Loop that they wish troubled senate hopeful Graham Platner will remain in the contest for as long as he can—the turmoil in the state’s elections may only benefit Republicans, they argue.

Platner, a former US Marine, navigated through a series of scandals to secure a decisive victory in the Democratic primary last month. He is expected to challenge incumbent Republican Susan Collins in the general election this November, which is anticipated to be one of the nation’s most scrutinized races, yet a number of Democratic leaders are now urging him to withdraw.

On Monday, a woman from Maine accused Platner of sexual assault and reported to Politico that he had once coerced her into having sex against her will. (Platner’s campaign did not return a request for a statement, although it previously refuted the allegation in a prior statement to Politico.)

Prior to this, Platner faced allegations of abusing women, had hidden a Nazi tattoo, and was associated with several inappropriate comments online. In the last day, Democrats ranging from Senator Bernie Sanders to Senator Chuck Schumer have demanded he exit the race.

Solo GP Ashley Smith unveils new $25M fund to support startups in AI, security, and other sectors.

Solo GP Ashley Smith unveils new $25M fund to support startups in AI, security, and other sectors.

Vermilion Cliffs Ventures declared on Wednesday the completion of a $25 million Fund II. The company was established in 2023 by operator-turned-investor Ashley Smith, who leads it as one of the rare solo female GPs in venture capital. In a conversation with TechCrunch, Smith stated that this fund will persist in the firm’s mission of supporting technical founders, particularly those developing in AI infrastructure, security, and development tools. 

She mentioned that it took her roughly four months to raise the new fund this year, with a significant portion of the capital sourced from existing investors. The typical check size for Fund II will range from $500,000 to $1 million, aiming to invest in at least 25 companies over the next two and a half years, having already supported six companies. The firm had previously secured a $13 million inaugural fund that funded 35 companies, including the cybersecurity startup Keycard and the AI infrastructure company CopilotKit. 

Smith remarked that many early-stage firms exist to assist founders in securing their next round, and from her background in marketing at Twilio, Facebook, GitHub, and GitLab, she aims to aid founders with go-to-market strategies that drive revenue. “Selling to developers and security teams is a distinct discipline, and most founders experience learning it the hard way over time,” she noted. “I strive to help them avoid the pitfalls I’ve encountered or witnessed other founders experience.”

Apple collaborating with Broadcom to manufacture wireless chips in the USA

Apple collaborating with Broadcom to manufacture wireless chips in the USA

Apple has entered into a multiyear agreement exceeding $30 billion with Broadcom to create and manufacture over 15 billion U.S.-produced custom wireless connectivity chips for its products. 

As part of this agreement, Apple will allocate $1.5 billion towards capital expenditure to assist in the expansion of Broadcom’s manufacturing facility located in Fort Collins, Colorado. This partnership enhances Apple’s existing collaboration with Broadcom, the primary hardware supplier for wireless components for the iPhone manufacturer.

This agreement aligns with Apple’s vow to invest $600 billion into the U.S. economy over the next four years — a commitment made amid increasing pressure from the Trump administration.

Last year, Trump threatened to impose new tariffs on Apple products unless the company relocated essential iPhone manufacturing to the United States. He eventually reversed this policy, and iPhone assembly has remained offshore.

Apple assures that its commitment with Broadcom will result in “hundreds of American jobs,” which is a relatively modest figure in light of the $30 billion investment.

Venus Aerospace secures $90M in Series B funding to develop an innovative rocket engine.

Venus Aerospace secures $90M in Series B funding to develop an innovative rocket engine.

Create an innovative rocket engine, and opportunities will come knocking. At least that’s been the case for Venus Aerospace and its Rotating Detonation Rocket Engine (RDRE), an extremely efficient means to propel objects into the atmosphere.

Founded in 2020 by the married couple, CEO Sassie Duggleby and CTO Andrew Duggleby, the goal was to create environmentally friendly hypersonic jets for passenger transport. However, after successfully showcasing the engine last year, their focus shifted.

“What transpired when we flew last May was that the world responded with, ‘oh wow, you have a functioning RDRE, would you consider selling us one?’ That was unforeseen,” Sassie Duggleby shared with TechCrunch.

Currently, the company is concentrating on developing hypersonic weaponry, replacing the solid rocket motors used in numerous missiles with its innovative thruster, alongside high-speed vehicles that cater to military interests.

“Our propulsion framework merges efficiency, throttling, reusability, and manufacturability in a manner that fulfills customer requirements for genuine defense and space operations,” Andrew Duggleby stated. “Our aim is to convert technical advancements into dependable systems for active deployment.”

Venus announced today a $90 million Series B funding round intended to position the company accordingly by financing the testing and development of specific vehicle models for prospective clients. The funding round was spearheaded by Mercury Fund and included contributions from Lockheed Martin Ventures, MESH, PEAK6, Draper Associates, Starboard Star Venture Capital, and Green Sands Equity.

The RDRE was conceptualized in the mid-20th century as a theoretically more efficient rocket launch mechanism; instead of combusting propellants in a circular chamber, the engine generates a constant supersonic flame wave that circulates through a round channel. (Here’s a visualization.) This idea aimed to minimize propellant waste, but the intricate physics were difficult to comprehend and manage.

Recent years have seen changes with advancements in 3D printing and enhanced simulations. The first effective test occurred in 2020 at the University of Central Florida. NASA showcased an RDRE on the ground for the first time in 2022, while Japan’s space agency JAXA ignited one momentarily in space in 2021. Venus’ 2025 test marked the inaugural occasion an RDRE propelled a rocket into flight.

“When we initiated Venus, the narrative was there’s a new kind of rocket engine, we believe it will produce more heat, more thrust, and be more efficient, but we think we’ve figured out how to prevent it from melting,” Sassie Duggleby explained. “A significant part of our efforts over the last four years has been figuring out how to keep this engine from melting—and we’ve resolved that.”

This year, the company received a grant from the Texas Space Commission to construct a new, larger test stand. This will be crucial for Venus: The maximum duration it has fired its engine in 600 tests is 32 seconds, though it will probably need to operate for at least 6 to 15 minutes to satisfy its customers’ objectives.

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Blue Origin allegedly securing $10B at a valuation of $130B

Blue Origin allegedly securing $10B at a valuation of $130B

Billionaire Jeff Bezos’ aerospace venture Blue Origin is securing $10 billion at a $130 billion pre-money valuation from Coatue Asset Management, Bezos himself, and other significant investors, according to The New York Times.

Coatue is anticipated to contribute approximately $4 billion in this round, marking Blue Origin’s inaugural external funding effort. Bezos is reported to be pledging $2 billion, with the other investors covering the rest, as stated in the report.

This funding comes after a significant challenge for Blue Origin, as its main rocket New Glenn detonated during testing in late May while gearing up for its fourth launch. The company had not identified the cause of the explosion as of last week, but it still aims to utilize the rocket for upcoming launches later this year. Blue Origin also needs to reconstruct its launchpad in Cape Canaveral, which is the only facility capable of supporting the rocket and one of the most potent launch vehicles currently available.

Making New Glenn fully operational is a crucial goal for Blue Origin, particularly as the company has shifted its focus entirely toward aiding NASA’s Artemis missions to the moon. The firm also aspires to launch and manage data centers in space, seizing opportunities in a nascent trend that aims to relocate substantial computing capacities to orbit.

Part of the investment may also assist Blue Origin in developing its satellite internet network, announced earlier this year, which plans to utilize thousands of satellites for data connectivity to enterprise, government, and data center clients.

The funding follows SpaceX’s remarkable IPO last month, in which the AI/datacenter/space company raised over $85 billion at a $1.75 trillion valuation.