AI startup SandboxAQ adds Nvidia, Google as backers, raises $150mn

By Shikha Singh

AI startup SandboxAQ adds Nvidia, Google as backers, raises additional $150 mn.

SandboxAQ, a startup using quantum computing techniques to build quantitative AI models for enterprises, raised $150 million from investors including Google, Nvidia, and BNP Paribas. This boosts its Series E funding to $450 million and values the company at $5.75 billion, with total funding reaching $950 million.

A spin-off from Alphabet in 2022, SandboxAQ designs Large Quantitative Models (LQMs) that handle massive datasets, complex calculations, and statistical analysis, supporting fields like drug discovery and financial modeling. Their models are available on platforms like Google Cloud.

Félix raises $75 mn for WhatsApp-based stablecoin remittance platform.

Félix, a chat-based platform that lets Latino immigrants in the U.S. send money abroad using WhatsApp and stablecoins, raised $75 million in Series B funding.

The round was led by QED Investors, with participation from Monashees, Switch Ventures, Castle Island, HTwenty, General Catalyst, and Endeavor Catalyst.

Founded in 2020 by Manuel Godoy and Bernardo García, Félix operates in the U.S., Mexico, El Salvador, Honduras, and Guatemala.

It uses AI to facilitate money transfers via WhatsApp chat or voice notes, with USDC stablecoin powering the backend to lower exchange costs and speed up transactions.

BTC-Denominated Life Insurance Firm Raises $40 mn.

Meanwhile, a life insurance company offering Bitcoin-denominated whole life insurance, has raised $40 million in a Series A funding round. The firm, regulated by the Bermuda Monetary Authority, aims to offer financial products that mitigate risks such as inflation, political instability, and currency fluctuations. The funding round was co-led by Fulgur Ventures and Framework Ventures, with additional backing from Bitcoin pioneer Wences Casares. The company plans to expand its global operations, helping millions of people access long-term financial protection using Bitcoin. The move signals growing institutional support for cryptocurrency-backed financial services and products.

Cap Raises $11 mn for Stablecoin Engine as Industry Heats Up.

Cap, a yield-bearing stablecoin protocol, has raised $11 million in funding from major financial institutions like Franklin Templeton and Triton Capital. This includes $8 million from a recent seed round and $3 million from an earlier round. The funds will help develop Cap’s stablecoin engine, set to launch later this year.

Cap’s platform allows users to earn passive interest on stablecoins by leveraging both crypto-native strategies and traditional financial methods, such as high-frequency trading firms and private credit funds. It also offers extra yield opportunities through restaking protocols like EigenLayer.

This funding comes as interest in stablecoins grows, with companies like Fidelity and the state of Wyoming exploring their own stablecoin projects and U.S. Congress working on stablecoin legislation.

Edtech Startup SiglQ.ai secures $9.5 mn in Seed funding.

Edtech startup SiglQ.ai has raised $9.5 million in a seed funding round co-led by The House Fund and GSV Ventures, with participation from Duolingo, General Catalyst India (Venture Highway), Peak XV Partners, Calibrate Ventures, and a group of angel investors including Perplexity co-founder Andy Konwinski, Christian Storm, Trevor Darrell, Jitendra Malik, Srini Devadas, Sharad Malik, among others.

The funds will be used to accelerate hiring top talent, enhance its AI models, and scale its platforms to educational systems worldwide, SiglQ.ai said in a press release.

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