Heaviside Industries has raised $60 million in Series B funding at a $600 million valuation, just three months after emerging from stealth mode. Felicis led the round with participation from Hedosophia, Menlo Ventures, and others. The defence technology company, which builds autonomous precision munitions platforms, also announced a strategic partnership with Norway-based Nammo, a global munitions leader. Nammo will supply warheads for Heaviside's multi-domain strike platforms. Founded in 2024 and based in Los Angeles, Heaviside will use the funds to expand production capacity, accelerate hiring, and fulfil customer commitments. The company currently operates facilities in Los Angeles and Oslo, with plans to establish additional US production sites for high-volume manufacturing.

Stockholm-based AI startup Lovable has raised $400 million at a $13.3 billion valuation, more than doubling its December valuation of $6.6 billion. The funding round was co-led by Menlo Ventures and the European Commission's Scaleup Europe Fund, with participation from Balderton Capital, World Innovation Lab and Tencent. Launched in November 2024, Lovable's platform enables users to create software and web applications using everyday language. The company is on track to achieve a revenue run rate of nearly $600 million by month-end, triple its December level. Clients include Nvidia, Adidas, Hearst and Zendesk. Lovable plans to expand its workforce by 50% to 450 employees and grow in Latin America whilst improving security features. The company competes with California-based Replit, valued at $9 billion in March.