Letta Secures $10 Million Seed Funding Led By Felicis Ventures At $70 Million Valuation

Letta, an AI startup founded by Berkeley PhD students Sarah Wooders and Charles Packer, has emerged from stealth with $10 million in seed funding led by Felicis at a $70 million post-money valuation. Letta's technology, based on the open-source project MemGPT, helps AI models remember users and conversations over time, addressing a key issue with large language models (LLMs). Backed by prominent investors like Google’s Jeff Dean and Hugging Face’s Clem Delangue, Letta is positioning itself as an open-source alternative to proprietary AI solutions. INVESTORS: Felicis Ventures, Jeff Dean, Clem Delangue, Cristóbal Valenzuela & Robert Nishihara ROUND: Seed AMOUNT: $10,000,000 HQ: #Berkeley #California #VentureCapital #Letta #FelicisVentures #JeffDean #ClemDelangue #CristóbalValenzuela #RobertNishihara #TradedVC

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Apple Acquires Assets And Employees From SigScalr For Developer Tooling EnhancementApple has acquired certain assets and hired employees from SigScalr, the startup behind the open-source observability platform SigLens, according to an EU regulatory filing that became public after a required waiting period. SigLens provides real-time log analysis, metrics monitoring, and distributed tracing for monitoring and debugging large-scale applications, with support for OpenTelemetry, Splunk SPL, and SQL. The acquisition aligns with Apple’s strategy of quietly acquiring specialized technology companies to strengthen its developer tooling and internal infrastructure. SigScalr emerged from stealth in February 2024, raising $1.76 million in pre-seed funding led by Scribble Ventures, with participation from WestWave Capital and Forward Slash Capital. #VentureCapital #Apple #SigScalr #TradedVC

Reformed Secures £17 Million Investment From IRIS Ventures, JamJar Investments, V3 Ventures, FoodLabsReformed, a UK-born functional matcha and coffee brand, has raised £17 million to accelerate the international expansion of its direct-to-consumer subscription business. Focused on optimizing morning routines, the company’s instant beverage powders combine ingredients such as vitamins, minerals, mushrooms, creatine, and collagen to deliver health benefits beyond a traditional caffeine boost. In less than two years, Reformed has reportedly reached $70 million in annual revenue while expanding its product lineup to include complementary wellness-focused SKUs. The funding comes as consumer demand for functional beverages continues to grow, positioning Reformed at the intersection of supplements and premium coffee culture. FOUNDERS: Neil Saada & Neil Marrakchi INVESTORS: IRIS Ventures, JamJar Investments, V3 Ventures & FoodLabs AMOUNT: $22,748,690 HQ: United Kingdom #VentureCapital #Reformed #NeilSaada #NeilMarrakchi #TradedVC