Space VC takes off, defense tech is hot, and meet LA32!

Top News

• Space VC takes off: As space launch prices come down, the pace of launches accelerates, and more startups put their own hardware and software into orbit, VCs are putting together new funds to back the companies building a space-based future. TechCrunch reports that Alpine Space Ventures, based in Germany, spent four years raising a new €170 million fund, for . The capital came in part from nearly two dozen former SpaceX employees, and will be invested on both sides of the Atlantic.

• Apple, EU come to terms on payments complaint: After finding that Apple “abused its dominant position by refusing to supply the NFC technology to competing mobile wallet developers” on iPhone, the EU has come to an agreement with Apple. For ten years, Apple will open access to NFC payments on iPhone, allow users to change their chosen digital wallet, and open other iPhone features to third-party developers. This is good news for European fintechs.

• Defense tech is hot, hot, hot: What happens if you combine defense tech, AI, and an eye for protecting democracy? You get Helsing, a European defense AI startup that just raised €450 million in a Series C. General Catalyst led the round, with additional funds from Elad Gil, Accel, Lightspeed, and others. As you can imagine, Helsing is active in Ukraine, which is currently fending off an invasion, with the company stating in a release that it “recently established the Defence Manufacturers Alliance, a joint initiative with the Ukrainian government.”

Future TWiST500 Companies

Tomorrow, Jason and Alex will riff through a dozen or so construction and housing-focused startups to add to the ever-growing TWiST500. But while we count down to that conversation—expect a preview tomorrow morning—we have a list of new startups for you to meet.

Meet LA32!

LAUNCH’s 32nd Accelerator batch kicked off yesterday, and we secured the list of startups to share with you.

• Querio AI: Super-quick data reporting and exploration to answer internal corporate questions 20x faster.

• Rapha: An applicant tracking system designed for remote teams in a hurry to land the perfect talent fit. Rapha’s ATS also has built-in AI features to help companies handle recruiting tasks more quickly.

• Mastertech: Mastertech’s service brings AI imbued with deep knowledge about vehicles and their quirks, metrics, and requirements to folks who know how to swing a wrench. AI will disrupt more than just office jobs, making Mastertech one of the startups looking to bring AI to more professions than just software engineering.

• Layerpath: Interactive product demos and user guides powered by AI to make their creation faster and help customers land more new accounts of their own.

• Ellis: Outbound sales helper built with AI, designed to help companies find new prospects using natural language queries, send personalized outreach, and more.

• ConvertMate: An optimization engine for Shopify sellers, including SEO tools, A/B testing, AI updates to online stores, and more.

• Chef Reactions: A food media company that you have probably seen on Instagram

A message from DevSquad:

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This Week in Startups

E1978: Jason sat down with Anand Nandakumar, the CEO of Halo Car to chat about the startup’s approach to driving autonomy. While many major tech companies are pursuing self-driving cars, Halo Car is more focused on teleoperation to get rental vehicles to customers. As self-driving remains a future product instead of — mostly — a present reality, it’s a timely conversation and a neat startup to boot.

E1977: Jason and Alex kicked off the week digging into the news that a16z has built a GPU cluster that it then rents to portfolio companies. How far will VCs go to secure deal flow? That far, it turns out. The pair also dug into Q2 venture capital trends, and added a host of robotics companies to the TWiST500.

E1976: AI with Sunny returns, featuring data concerning the current venture capital fundraising market and what to make of ‘AI native” workers. On the demo side of the fence, Sunny and Jason looked at Luna Labs, Kling, Qwen, Cartesia AI, and more. This is a must-watch if you want to keep tabs on the latest from the world of artificial intelligence.

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