ABL space pivots to missile defense after raising $461M

Top News

• Praxis Looks to Build in Greenland: Praxis founder Dryden Brown wants to create a tech-powered prototype city on Greenland’s uninhabitable land, leveraging mining and tourism to replace Denmark’s $500M annual subsidy. The Peter Thiel-backed network state startup recently raised $525M in milestone-tied funding. While critics call the plan politically and logistically ambitious, Brown insists it’s a modern take on frontier spirit and a chance to pioneer “Terminus”-style innovation.

• ABL Space pivots to missile defense: After raising $461M and facing setbacks with its RS1 rocket, ABL Space Systems is shifting focus from commercial launches to missile defense. Founder Dan Piemont cites a maturing launch market and the opportunity to address U.S. missile threats using ABL’s existing tech and IP. The pivot aligns with the DoD's $13.5B missile defense budget but comes with the challenge of navigating government sales.

• JobGet snaps up Snagajob: JobGet, the Boston-based platform for hourly workers, has acquired its rival Snagajob, aiming to dominate the U.S. market. The deal positions JobGet as a leader in connecting 100M frontline workers with employers, though exact user numbers and financial terms remain undisclosed. This move highlights the ongoing consolidation in the crowded hourly jobs market.t.

TWiST500

We’ve been talking about Skydio a lot lately, and for good reason. It’s been a big few weeks for one of our favorite new additions to the TWiST500 + last week’s guest on the podcast (Great episode— one of my personal favs in fact!). Skydio just raised $170M in a Series E extension, bringing the round to $400M. With over $1.2B in bookings—half from defense clients—and projected 2024 revenue of $180M, Skydio is doubling down on enterprise and defense markets.

This round includes strategic investments from Axon and Japan’s KDDI, which plans to deploy Skydio drones at 1,000 sites across Japan. Increased scrutiny of Chinese competitors like DJI gives Skydio a boost in the U.S., but challenges like supply chain disruptions due to Chinese sanctions remain. As Skydio continues to scale, they prove why they’re a TWiST500 standout. — Maddie

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This Week in Startups

E2044: Jason and Alex open up the show with a quick look at “Emo,” a robot from Columbia University that can predict and mirror human smiles. They then dive into a discussion with Phil Deutch, CEO of NGP Energy Technology Partners III, on the booming solar sector, highlighting Western Australia's record-breaking solar output and the shift toward renewable energy storage. Lastly, they break down the legal drama around Polymarket, its implications for prediction markets, and YC's latest call for startups

E2043: Jason and Alex dive into an action-packed episode featuring VATN Systems' Nelson Mills discussing underwater drone defense applications and advancements in military tech. They explore underwater autonomy, manufacturing insights, and the global defense funding climate, along with a look at emerging robotics in warfare and LG’s stretchable screen technology. The show rounds out with insights on Klarna's IPO, fintech challenges, and AI's transformative impact on the job market and economy.

E2042: Jason and Alex sit down with a great guest—Serve Robotics CEO Ali Kashani. They chat about Serve's journey scaling food delivery automation with robots on the streets and in kitchens, along with their creative route to Nasdaq via a reverse merger. They also dive into the "Trump Trade" and how deregulation is driving a surge in fintech stocks and crypto optimism, and wrap up with insights on shifts in immigration policy

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