UK POISED FOR FIRST £100 BILLION TECH UNICORN
■ AI-SUMMARIZED FROM 1 SOURCE ▸ TIMELINE
The UK could soon produce its first £100 billion technology company, according to James Wise, general partner at Balderton Capital and chair of the UK Government's Sovereign AI fund. Success requires closer collaboration between policymakers and investors to enable British firms to scale globally.
■ MORE FROM THE STARTUPS DESK
DeepSeek's annualized revenue run rate has doubled to $1 billion in recent months, up from less than $500 million. The Chinese AI company aims to close a $7.5 billion fundraise by late October.
Modal Labs and Baseten, two platforms enabling businesses to run AI models, are in advanced funding talks that would significantly boost their valuations. The rounds reflect growing investor appetite for AI infrastructure services.
Ema, an AI agent platform automating corporate processes in HR, IT, and finance, secured $77 million in Series B funding led by Creaegis. The round brings the startup's total funding to $140 million.
Enveda Therapeutics raised $311 million in funding, bringing the AI biotech company's valuation to $2 billion. The capital will accelerate clinical trials for drugs derived from natural compounds.