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Physical Superintelligence Raises $58M Seed Led by Breakthrough Energy Ventures to Industrialize Physics Discovery with AI
Physical Superintelligence (PSI), a Cambridge, MA startup, raised $58 million in a seed round led by Breakthrough Energy Ventures to use AI to industrialize physics discovery and build high-fidelity world models for applications like data center optimization and interstellar mission planning.
Fervo Energy raises $2.2B in 2026 IPO, readies Cape Station — first utility-scale enhanced geothermal plant to start delivering power this year
Geothermal startup Fervo Energy went public in May 2026, raising $2.2 billion, and is preparing to bring the first utility-scale enhanced geothermal plant (Cape Station) online later this year as it scales toward 500 MW using oil-and-gas drilling techniques. The company has $7.2 billion in contracted revenue from customers like Google and faces technical, water, transmission and political risks even as geothermal currently enjoys broader bipartisan support than wind or solar.
Stoke Space Technologies Raises $1 Billion to Fund Fully Reusable Nova Rocket Competing With SpaceX
Stoke Space Technologies is raising $1 billion to accelerate development and production of its fully reusable Nova rocket aimed at competing with SpaceX.
Mariana Minerals Raises $310M Series B Led by Khosla Ventures, Bringing Total to ~$400M
Mariana Minerals, a San Francisco software-first critical minerals company, raised $310M in a Series B led by Khosla Ventures with broad participation, bringing its total funding to about $400M to expand operations and development.
Mariana Minerals Raises $310M Series B Led by Khosla Ventures to Scale AI-Driven Copper and Lithium Operations
Mariana Minerals raised $310 million in a Series B led by Khosla Ventures (with a16z and Breakthrough Energy Ventures among others) to scale its AI-driven vertically integrated copper and lithium mining and refining operations in the U.S., bringing total funding to about $400 million.
Mariana Minerals valued at $1.5 billion as CEO Turner Caldwell, backed by Khosla and a16z, pushes software-driven mining for critical metals
Mariana Minerals, a software-focused mining startup led by CEO Turner Caldwell, aims to remake mining for a metals-driven economy by targeting lithium, copper, aluminum and other critical minerals needed for electrification. The company is now valued at $1.5 billion and says its software backbone will generalize across many metals to reduce input costs and address supply-chain risks dominated by China.
Private Fusion Funding Tops $4.48B in 2025 as Helion, Backed by Sam Altman, Signs 50 MW PPA with Microsoft for 2028
Private nuclear fusion investments reached a record $4.48 billion in 2025, driven by AI data center energy demand and energy security concerns, with 71% of fusion companies expecting commercial grid power in the 2030s. Helion Energy, backed by Sam Altman, began building its Orion plant in Malaga, Washington, secured a $465 million Series G led by Thrive Capital, and holds a binding PPA to deliver at least 50 MW to Microsoft by 2028.
OpenAI’s Kevin Weil Joins Stoke Space Board as Company Prepares First Launch of Fully Reusable Nova Rocket
OpenAI chief product officer Kevin Weil has joined the board of reusable rocket startup Stoke Space as it prepares for the launch of its fully reusable Nova rocket. Weil's expertise in scaling tech and AI products is expected to help guide Stoke from development to commercial operations.
Ex-OpenAI Chief Product Officer Kevin Weil Joins Stoke Space Board to Advance Fully Reusable Rocket Technology
Kevin Weil, former Chief Product Officer at OpenAI and instrumental in ChatGPT's development, has joined the board of Stoke Space, a startup developing fully reusable rockets to significantly reduce launch costs. His appointment highlights a notable crossover between AI tech leadership and the advancing commercial space industry.
Weekly Startup Funding Report: 24 Deals Raise $1.3B Ending 6/20/26 Highlighting KLIPY and Ergo
The Weekly Notable Startup Funding Report for the week ending 6/20/26 highlights over $1.3 billion raised across 24 startup deals, including significant rounds for companies like KLIPY ($3.8M) and Ergo ($2.8M). These startups operate in diverse sectors such as short-form media platforms and AI revenue infrastructure.
Fusion Startups Have Raised $7.1 Billion, Led by Commonwealth Fusion Systems’ $863M Round
Fusion startups have collectively raised $7.1 billion, with Commonwealth Fusion Systems accounting for about one-third of this private investment. Advances in computing, AI, and superconducting magnets, along with key scientific milestones, are driving rapid progress toward commercially viable fusion power.
Starcloud Raises $170M, Pioneers AI GPU Satellite in Race for Space-Based Data Centers
Starcloud, a startup valued at $1.1 billion, has launched a GPU-powered satellite into orbit and raised $170 million in Series A funding, aiming to build an 88,000-satellite constellation for AI data centers in space. The company leads a competitive race against giants like Google, SpaceX, and Blue Origin to establish orbital AI infrastructure before launch costs decrease.
Hydrogen Aviation Startup ZeroAvia Scales Back U.S. Operations, CEO and Several Executives Depart Amid Strategic Shift
ZeroAvia, a hydrogen aviation startup backed by Bill Gates and Amazon, has scaled back its ambitions by ceasing most operations in Washington and California, shifting product development to the UK, and experiencing executive departures, including CEO Val Miftakhov. Despite these setbacks, the company maintains its mission to advance hydrogen-electric powertrains for aviation and seeks to adjust its pace and focus according to market conditions.
Mantle8 raises €31M Series A led by Sandwater to fund global natural hydrogen exploration and drilling
Mantle8, a Grenoble-based natural hydrogen exploration company, raised €31M in a Series A led by Sandwater with investors including Breakthrough Energy Ventures and Bpifrance to fund a two-year global exploration and drilling campaign. The company will deploy its proprietary technology to identify and drill reservoirs for high-purity natural hydrogen, targeting production costs projected as low as €0.80/kg to enable low-carbon, sovereign energy supply.
Cowboy Space Raises $275M at $2B Valuation, Plans 40-60 Hires for Seattle Satellite and Rocket Hub
Cowboy Space Corp., founded by Robinhood co-founder Baiju Bhatt, raised $275 million in a Series B round valuing the company at $2 billion and is hiring 40-60 employees for its new Seattle satellite and rocket engineering hub. The company develops solar-powered satellites that function as data centers and builds integrated rockets to launch them, competing for talent in Seattle's aerospace sector.
Aetherflux, Founded by Robinhood's Baiju Bhatt, Expands to Seattle for Solar-Powered Orbital Data Center Satellite Development
Aetherflux, a space startup founded in 2024 by Robinhood co-founder Baiju Bhatt, is expanding to Seattle to develop solar-powered orbital data center satellites aimed at supporting AI energy needs, with a commercial launch planned for 2027. The company joins a growing aerospace community in Seattle, focusing on leveraging space-based infrastructure to overcome limitations of ground-based AI computing resources.
Bill Gates-Backed Breakthrough Energy Halts Fundraising for $1.5 Billion Catalyst Climate Initiative
Bill Gates-backed Breakthrough Energy is not seeking additional funding for its Catalyst initiative, which initially raised $1.5 billion to support first-of-a-kind climate technology projects. The umbrella organization has cut staff and programs since 2017, with Gates recently emphasizing philanthropy in global health over climate threats.
Susan Kaech Named Executive VP at Allen Institute; Arthur Valdez Joins Impinj Board; Jason Bennett Shifts to AWS VP Role
Susan Kaech joins the Allen Institute as executive VP of the Immunology Moonshot; Arthur Valdez Jr. joins Impinj's board; Jason Bennett transitions to VP of worldwide startups and venture capital at AWS. These leadership changes reflect strategic moves across bioscience, RFID technology, and cloud services sectors.
Stoke Space Raises $510M Series D and $100M Debt to Accelerate Reusable Nova Rocket Development
Stoke Space Technologies raised $510 million in a Series D funding round led by Thomas Tull's US Innovative Technology Fund, alongside a $100 million debt facility, to accelerate development of its fully reusable Nova rocket. The company aims to complete development and demonstrate the rocket's first flight by next year, targeting reusability of both rocket stages to reduce launch costs.
Aquagga Wins $1,500 Top Prize at PNW Climate Week for Portable PFAS Destruction Technology
Aquagga won the top prize of $1,500 at a PNW Climate Week pitch contest for its portable units that destroy harmful PFAS 'forever chemicals' in contaminated wastewater, addressing major environmental and health concerns. The startup, led by CEO Dhileep Sivam, is expanding operations with new contracts including a three-year deal in Colorado and work with 3M.
Report: "Cascadian Dynamism"—Pacific Northwest startups marry AI and physical systems across fusion, satellites, robotics and energy
The Pacific Northwest is spawning a cluster of engineering-heavy startups—what the author calls "Cascadian Dynamism"—that combine AI with physical systems (autonomy, fusion, satellites, robotics, energy) driven by regional talent, infrastructure, and nearby enterprise and federal customers.
Stoke Space Raises $260M to Advance Fully Reusable Nova Rocket and Build Florida Launch Site
Stoke Space has raised $260 million in a Series C funding round to advance the development of its fully reusable Nova rocket and build a launch complex in Florida, bringing total funding to $480 million. The company recently completed a key test firing of its Zenith rocket engine and aims for a first orbital test flight of the Nova rocket this year.
Ex-Google Director Manish Sainani Launches AI Investment Firm Hushh Technologies; Nathan Brown Named CFO of Treasury4
Manish “Manny” Sainani, former Google director, launched Hushh Technologies, an AI-driven investment management startup, while Nathan Brown became CFO of Treasury4, a fintech company serving corporate finance professionals.
Aquagga Names Former Intellectual Ventures Executive Dhileep Sivam as CEO to Commercialize PFAS Destruction Technology
Aquagga, a startup developing technology to destroy 99% of PFAS in contaminated water, has appointed Dhileep Sivam, a former Intellectual Ventures executive, as its new CEO to lead commercialization efforts. The company, founded in 2019, has received over $10 million from grants and customers and raised $1.1 million from investors.
Zap Energy Secures $130M Funding and Advances Century Fusion Power Plant Demo System
Zap Energy raised $130 million in funding and is progressing on its Century system, a demonstration of key technologies for fusion power plants aimed at producing 50 megawatts per module. The Century device integrates power-generation components while the core fusion reactor FuZE-Q continues development.
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