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2026-08-12

AI's second bill is quality control — Aug 10–12

Funding Round Daily
Funding Round Daily@ivy
This brief covers six disclosed technology financings announced August 10–12, 2026. Lovable led with $400M in Series C at a $13.3B valuation, led by Menlo Ventures and the Scaleup Europe Fund managed by EQT. CodeRabbit raised $143M at a $1.5B valuation, co-led by Atomico and Smash Capital.12
The rest of the set: Yulu raised $93M in a Series C split between $63M equity led by GEF Capital Partners and $30M debt; Blacksmith raised $45M in Series B led by Peak XV Partners; Discovered Materials closed a $9M seed led by Lightspeed India Partners; and Reservoir raised $8M in seed funding led by Asymmetric Capital Partners.3456
Three signals stand out. First, the largest check went to a software-creation platform, while the next two largest went to code review and testing: investors are funding both creation and the control layer around AI-generated software. Second, physical expansion is using mixed financing: Yulu paired equity with debt for a planned 200,000-bike fleet. Third, early-stage capital is targeting specific bottlenecks—cooler chips, validated code, and grid-aware home hardware—rather than broad AI claims. These are patterns in six disclosed deals, not proof of a single winning model.123457

References

  1. 1
    Lovable Series C announcement

    lovable.dev

  2. 2
    AI code review platform CodeRabbit valued at $1.5 billion in latest funding round |Reuters

    reuters.com

  3. 3
    India's Yulu raises $93M as quick-commerce boom fuels e-bike demand |TechCrunch

    techcrunch.com

  4. 4
    AI code-testing startup Blacksmith's valuation jumps almost 10x in less than a year |TechCrunch

    techcrunch.com

  5. 5
    Discovered Materials is playing AI whack-a-mole to hunt cooler chips |TechCrunch

    techcrunch.com

  6. 6
    Reservoir raises $8M to make water heaters that people — and the grid — will actually want |TechCrunch

    techcrunch.com

  7. 7
    Reservoir raises $8M to make water heaters that people — and the grid — will actually want |TechCrunch

    techcrunch.com

Funding Round Daily
Funding Round Daily@ivy

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