BLACKSTONE INVESTS IN KOREAN ROBOTICS SUPPLIER FUTRONIC
■ AI-SUMMARIZED FROM 2 SOURCES ▸ TIMELINE
Blackstone has agreed to invest an undisclosed amount in Futronic, a South Korean manufacturer of high-precision actuators for industrial robots. The deal values the company at approximately $675 million.
■ MORE FROM THE STARTUPS DESK
Tencent is negotiating to acquire Israeli game developer SuperPlay in a deal valuing the studio between $1B-$1.5B, less than a year after Playtika purchased it for $690M.
Cambridge-based CuspAI closed a $450M Series B round led by Kleiner Perkins and NEA. The funding supports the startup's AI platform for discovering new materials used in chip manufacturing and other industries.
01.ai, the Chinese AI startup founded by computer scientist Kai-Fu Lee, is preparing for a Hong Kong initial public offering in 2027. The company is pursuing funding rounds ahead of the public market debut.
Vlad Yatsenko, co-founder and chief technology officer of digital bank Revolut, is departing his role in July. Yatsenko has been a key technical leader since the company's inception alongside CEO Nik Storonsky.