FRESH DEAL: Tim Draper leads $15.5M Series A for Mogul at $126M valuation. We break it down in our Substack. Link in comments.

FRESH DEAL: Brain-computer interface startup Sabi raises $50M seed at reported $600M valuation Learn more about it in our Substack. Link in comments.

On Thursday, Arena announced a $200M Series B at a $3.1B valuation, nearly doubling the company’s value from its $150M Series A just 9 months earlier. Full story in our Substack. Link in comments.

Isomorphic is in early talks to raise a fresh round of cash at a valuation of between $40B and $50B. They use AI to design drug molecules, then license these designs to pharma companies while also pursuing their own in-house drug pipeline. Dive into this raise at our @thisweekinvc Substack. Link in comments.

On Wednesday, Nous Research — the company behind the popular open-source Hermes Agent — confirmed a $90M Series B at a $1.5B valuation, bringing its total funding to $158M. In frothy AI terms, that’s a relatively modest raise. We break down the open-source numbers and founder Ryan Teknium's personal takes on the use of Hermes on our Substack. Link in comments.

Hadrian markets an “always-on” AI hacker for enterprises. Agents probe their clients’ systems in the way an actual hacker might, try to work out the most exploitable weaknesses, and then flag them for repair before any bona fide attackers show up. Substack link in comments.

Together, Munich’s RobCo and its employees sold around $40 million in shares, at a roughly $1 billion valuation, moving the robotics startup into the mythical realm of the unicorns. Back in January, the company raised $100 million in Series C funding at a $500 million valuation, so it has doubled in value so far this year. Learn more in our Substack. Link in comments.

Instinct is free and won't run ads. So how will this $10B personal agent make money? Founder @noahrshinn is plotting an Apple Pay-style take rate on transactions processed by your agent. (And they're already doing $1B in transactions per year.)