Good day. Agriculture has a weed problem. And it’s only getting worse.

Weeds, which hinder crop growth, are becoming increasingly herbicide resistant. That paired with a labor shortage is raising critical questions for the future of farming.

Meet Aigen. The robotics startup founded by former Deloitte consultant Kenny Lee and ex-Tesla engineer Rich Wurden is raising $10 million in a new round, following a $19 million 2023 Series A. Aigen proposes a solution to the weeds crisis with its solar-powered robots, which use artificial intelligence to differentiate between weeds and crops, removing weeds without chemicals.

This comes as many agtech startups have struggled with high capital requirements and uncertain exits. At the same time, the global herbicide market is estimated at $43 billion, according to market research firm Mordor Intelligence, and is a space garnering recent attention.

Aigen's second-generation robots, priced at around $50,000, are currently being tested on crops like cotton, sugar beets, and soybeans. The company plans to open pre-orders for 2026 delivery later this year.

Andrew Schoen, a partner at New Enterprise Associates which is leading the new funding round, praised Aigen for its practical solutions and “elegant” tech. “It’s not hype. The robot sees, thinks, and acts in real-time. It’s elegant, and it works,” he said.

—Meg Tanaka is a reporting intern at The Wall Street Journal.

And now on to the news...

AI’s cost weighs on smaller cybersecurity companies. Executives and financiers see a sharp increase in the number of cybersecurity companies seeking to be acquired by their rivals, as the continuing artificial intelligence race reshapes strategies and strains resources. The emergence of AI in recent years as a critical offering for vendors, regardless of the sector in which they operate, is putting pressure on smaller businesses to consider how they will compete with larger companies. 

• Peter McKay, chief executive of code security company Snyk, said he has seen the number of inquiries from companies looking to be acquired spike by around 20% to 25% in the past few months.

A $500 billion effort unveiled at the White House to supercharge the U.S.’s artificial-intelligence ambitions has struggled to get off the ground and has sharply scaled back its near-term plans. Six months after Japanese billionaire Masayoshi Son stood shoulder to shoulder with Sam Altman and President Trump to announce the Stargate project, the newly formed company charged with making it happen has yet to complete a single deal for a data center.

Blank-check company Dynamix is merging with another entity to create a new company known as the Ether Machine. The combined company plans to manage over $1.5 billion in ether, the largest cryptocurrency behind bitcoin. It is a bet that investors will continue to reward businesses that pour money into crypto holdings under the industry-friendly Trump administration.

People

New York-based Lerer Hippeau hired Ron Zori as venture partner.

Exits

GE Vernova agreed to acquire Alteia, a French software company specializing in AI computer vision and machine learning, for an undisclosed amount.

Xelix, a London-headquartered startup using AI agents to help enterprise finance teams manage the accounts payable process, scored $160 million in Series B funding. Insight Partners led the round, which included participation from Passion Capital and LocalGlobe. Ryan Hinkle and Alessandro Luciano, both of Insight, will join the company’s board.

Radical AI, a New York-headquartered startup building autonomous labs for materials research and development, scored $55 million in seed funding. RTX Ventures led the investment, which included contributions from NVentures, noa, Infinite Capital, AlleyCorp and Eni Next.

BetterComp, a Walnut Creek, Calif.-based compensation management software provider, collected $33 million in Series A funding led by Ten Coves Capital.

Rune Technologies, an Arlington, Va.-based military logistics startup, secured $24 million in Series A financing led by Human Capital.

Alix, a San Francisco-based startup using AI to simplify the estate settlement process, landed $20 million in Series A funding. Acrew Capital led the round, with Lauren Kolodny joining the board.

Sunsave, a London-based solar energy subscription service provider, raised £113 million in funding, including £13 million in Series A equity co-led by Norrsken VC and IPGL.

Hyper, a San Francisco-based voice AI startup that automates non-emergency 911 calls, emerged from stealth with $6.3 million in funding led by Eniac Ventures.

Magentic, an AI agent platform for manufacturing supply chain savings, picked up a $5.5 million investment. Sequoia Capital led the funding, which included participation from The Westly Group and First Momentum Ventures.

Propel People, a Cleveland-based platform helping contractors hire skilled tradespeople, was seeded with a $3 million investment led by 1848 Ventures.

• The robots that are taking over your food delivery

• Microsoft alerts firms to server software attack

• What chip-stock investors are missing about tariffs

• NASA wrestles with growing dissent over safety direction

• New U.K. AI audit standard aims to crack down on ‘wild west’ operators (Financial Times)
   
• Former Tesla president discloses the secret to scaling a company (TechCrunch)
   
• A major AI training data set contains millions of examples of personal data (MIT Technology Review)

This newsletter was compiled by Matthew Strozier and Zachary Cole.

WSJ Pro Venture Capital is a premium service of The Wall Street Journal. We cover venture capital and the global startup ecosystem. Share your tips, comments and questions: vcnews@wsj.com

The Team: Matthew Strozier, Yuliya Chernova, Brian Gormley and Marc Vartabedian.

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