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Finance

B2B fintech Ramp raises $1.85 billion, valued at $60 billion

B2B fintech startup Ramp has raised $1.85 billion through a new share issuance and was valued at $60 billion, Reuters reported on Oct. 15 local time. The round was led by Dragoneer Investment Group, with Thrive Capital, Founders Fund, Sands Capital and Avenir Growth as co-leads. Ramp, based in New York, provides corporate cards and expense management software. It has more than 85,000 corporate customers.

AI & Enterprise

Clueso raises $10 million Series A, saying AI agents film and edit product videos

Clueso, a startup offering an enterprise AI video production platform, has raised $10 million in Series A funding, SiliconANGLE reported. The round was led by Darrana Capital with participation from Founders Fund and Y Combinator, bringing total funding to more than $12 million. Clueso says AI agents operate software to record videos, write scripts and produce narration and graphics, with revisions handled by agents.

Crypto

Ethereum layer2 closures continue as Abstract to halt in December after Blast

Consumer-focused Ethereum layer2 network Abstract will shut down its chain on Dec. 15, The Block reported. Abstract cited stalled growth, insufficient liquidity, a limited DeFi ecosystem and weak institutional adoption. More than 144 apps run on the network, which said it had secured more than 400,000 users through partnerships including Red Bull Racing and Disney. Users must move assets off Abstract before the shutdown date or risk losing access.