PANews’ weekly roundup of major funding and acquisition activity. A venture backed by Donald Trump Jr. led Polymarket’s $1 billion new funding round, while Figure’s approximately $717 million acquisition of Kiavi highlighted intensifying funding and M&A activity across the AI and blockchain sectors.
This week’s highlights included a reported approximately $1 billion funding round for Polymarket led by 1789 Capital. The company is expected to be valued at approximately $21 billion following the financing, while its cumulative investment history is reportedly worth approximately $200 million. Separately, Figure acquired Kiavi’s lending platform, and Kiavi’s lending business is expected to be integrated into Figure Connect, with the incoming capital continuing to be managed through Democratized Prime.
In AI funding, Crusoe raised $300 million at a $30 billion valuation, Gimlet Labs raised $300 million at a $3 billion valuation, and iPronics raised $125 million in a Series B round. Lyte also raised $165 million in a Series C round, with the funds earmarked for the commercialization of perception technology for robots and the expansion of its production capabilities.
In blockchain and digital assets, Catapult Trade raised approximately $6.6 million, while Cari raised $32.5 million, Diameter Pay announced a $10 million Series A round, and OpenReserve announced a $25 million seed round. Felix Pago completed a $200 million Series B round, and its remittance network aims to reduce the cost and time required for international transfers using USDC.
In M&A, in addition to major transactions including the acquisition of Kiavi, SLB announced plans to acquire data center cooling company Kelvion for $3.4 billion in cash. The acquisition is targeted for completion in the first half of 2027, with cost savings and new revenue expected to result.