Startups Weekly: Fusion and Funding
- Proxima Fusion gains credibility for its fusion power plant concept
- Y Combinator faces backlash over Optifye.ai
- Quantum Machines raises $170 million in Series C funding
- Shop Circle secures $60 million in Series B funding
- Nomagic raises $44 million in Series B funding
- Taktile raises $54 million in Series B funding
- Relay raises $35 million in Series A funding
- Lovable raises $15 million in pre-Series A funding
- Thoma Bravo closes $1.9 billion European fund
- Cambridge Innovation Capital launches $126 million opportunity fund
The startup world saw a mix of hype and criticism this week. Proxima Fusion, a German startup, received a boost in credibility after a peer-reviewed journal highlighted its plans for a working fusion power plant. On the other hand, Y Combinator faced negative attention when it deleted posts about Optifye.ai, a startup accused of promoting 'sweatshops-as-a-service.' In funding news, Quantum Machines raised $170 million in a Series C round, and Shop Circle secured $60 million in a Series B round. Other notable funding rounds included Nomagic's $44 million Series B, Taktile's $54 million Series B, Relay's $35 million Series A, and Lovable's $15 million pre-Series A round. Private equity firm Thoma Bravo also closed a $1.9 billion European fund, and Cambridge Innovation Capital launched a $126 million opportunity fund.