Weekly TOP Startup / VC news of October 23, 2025

Topgolf revolutionized golf by turning it into a social, tech-driven game for anyone. And they’ve made billions in annual revenue doing it. Surf Lakes is applying that same model to surfing. Their patented tech creates 2,000 ocean-quality rides per hour, anywhere in the world, across all skill levels.

Surf tourism is a $65B global industry, yet fewer than 1% of people live near real waves. Licenses sold across the U.S. and Australia, with plans for a first commercial park in the works.

3x world champ Tom Curren and surf icon Mark Occhilupo have joined as ambassadors and shareholders. Even actor Chris Hemsworth has praised Surf Lakes.

You have until October 30th at 11:59 PM PT to invest in Surf Lakes.

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Zepto, India's quick-commerce pioneer, recently secured a massive $450 million funding infusion. This significant capital raise was led by the influential US pension fund CalPERS. The investment round propelled Zepto's market valuation to an impressive $7 billion. This represents a substantial 40% leap from its $5 billion valuation set just last year. The new funding, largely primary capital, saw strong participation from existing investors. Zepto now boasts a robust $900 million in net cash. This financial strength positions the Indian startup for aggressive expansion and an anticipated public listing next year. Zepto continues its rapid ascent in India's dynamic $500 billion e-grocery market, showcasing remarkable revenue growth and achieving operational efficiencies amidst fierce competition. The company cements its leadership in the swift delivery sector.

Deel, the global HR and payroll platform, has landed $300 million in Series E funding. This propels its valuation to an astounding $17.3 billion. New investor Ribbit Capital co-led the round. Andreessen Horowitz and Coatue Management also significantly participated. The capital injection fuels strategic acquisitions. It expands Deel's owned payroll infrastructure to over 100 countries by 2029. It also drives aggressive AI innovation across its platform. This massive investment follows a landmark year for the NYC-based company. Deel achieved three consecutive years of profitability. It marked its first $100 million revenue month in September 2025. Annual recurring revenue recently surpassed $1 billion. Deel currently serves more than 37,000 businesses and 1.5 million workers. Its operations span over 150 nations. It processes $22 billion in payroll annually. Deel simplifies complex global hiring, payment, and compliance challenges for companies worldwide. Its integrated platform covers HRIS, benefits, performance, and device management. This solidifies Deel's market leadership in borderless workforce solutions. The funding reinforces confidence in Deel's vision. It further positions the company for expansive future growth in the rapidly evolving global employment landscape.

Oura, the leading smart ring manufacturer, has secured over $900 million in a new funding round, propelling its valuation to an impressive $11 billion. This substantial investment, led by Fidelity Management, will fuel Oura's aggressive expansion into AI innovation, advanced health features, and global market penetration. The company, which already commands over 80% of the smart ring market, projects exceeding $1 billion in annual revenue for 2025. Oura's technology delivers proactive health insights, integrating comprehensive biometric tracking, new direct-to-consumer lab test capabilities via Health Panels, and seamless ecosystem connectivity. Recent product releases include ceramic ring versions and a new charging case. Oura targets younger demographics, particularly women in their twenties, as a crucial growth segment, continuously enhancing its wearable health technology to empower millions worldwide.

October 2025 market volatility revealed true crypto resilience. AI models now identify key investment opportunities. Blazpay, an AI-powered DeFi presale, leads with high-growth potential and multi-chain utility. Bitcoin offers critical portfolio stability. Ethereum remains central to decentralized finance innovation and real-world asset tokenization. Solana, XRP, and Polkadot also show strong recovery prospects. The market is shifting; genuine utility and AI integration drive future gains. Savvy investors are now positioned for a strong Q4 rebound and substantial 2026 growth across these pivotal digital assets.

Upgrade, a leading fintech firm, secured $165 million in Series G funding. Neuberger Berman Funds spearheaded the investment. This capital fuels expansion of Upgrade's consumer credit and banking products. Offerings include mobile banking, BNPL, credit cards, and specialized loans. Upgrade has delivered over $42 billion in credit to 7.5 million customers since 2017. The company boasts robust growth and profitability. Its extensive distribution network drives success. Peter Sterling of Neuberger Berman joins the board. Funds will develop new products. They will also broaden market reach. Upgrade aims to enhance financial standing for mainstream consumers. This strategic investment reinforces its market leadership in accessible financial solutions.

Indian vernacular content powerhouse Kuku just locked down $85 million in Series C funding. Granite Asia led the round. This investment catapults Kuku's valuation to $550 million. The fresh capital fuels aggressive expansion. Kuku will bolster its AI and data infrastructure. It will also attract top talent for tech and content roles. Deepened creator partnerships are key. The platform seeks to accelerate scaling across India and internationally. Kuku aims to produce premium, celebrity-driven shows. The goal is to surpass 100 million views per show. Kuku operates two main platforms: Kuku FM for audio and Kuku TV for vertical micro-dramas. This strategic move positions Kuku prominently in India's rapidly expanding $10 billion micro-storytelling industry, intensifying market competition.

India-Japan Fund (IJF) committed Rs 500 crore to EKA Mobility, a pivotal electric vehicle manufacturer. This substantial capital infusion targets manufacturing expansion, critical research and development, and supply chain enhancements. The strategic investment fortifies India's rapidly evolving electric vehicle landscape. It directly supports the nation's ambitious climate transition and sustainable transport goals. This funding also deepens economic collaboration between India and Japan. EKA Mobility's diverse portfolio includes advanced electric buses, trucks, and three-wheelers. The investment highlights robust confidence in India's electric mobility potential. It propels the country closer to its 2030 electrification targets for public and commercial transport.

Ardian made a monumental move. The firm raised $20 billion for its newest European infrastructure platform. This includes Ardian Infrastructure Fund VI (AIF VI) reaching its hard cap of $13.5 billion. Co-investments augmented the total. This represents Ardian’s largest infrastructure fund to date. It underscores Europe's growing investment appeal. The fund focuses on vital European sectors. These include energy, transport, and digital infrastructure. It targets resilience and long-term value.

Vantaca, a leader in AI-first community association management, secured over $300 million in growth investment. This pushed its valuation to an impressive $1.25 billion. Cove Hill Partners led the significant capital influx, with JMI Equity also participating. The funding fuels Vantaca's aggressive market expansion and rapid development of its groundbreaking agentic AI. Vantaca's platform automates core homeowner association operations, driving unparalleled efficiency. It drastically reduces costs, streamlining finance, budgeting, communications, and resident services. The platform already serves over six million U.S. homes. This investment solidifies Vantaca's market leadership. It underscores AI's profound transformative impact within the property technology sector. Vantaca sets a new industry standard.

Nova Credit secured $35 million in Series D funding. This investment accelerates its transformative cash flow underwriting platform. It empowers financial institutions and property managers with critical, real-time income and spending data. This data delivers superior credit decisions. Traditional systems often miss vital financial health indicators. Nova Credit offers a dynamic, complete consumer financial picture. Leading entities like Chase, PayPal, and Yardi actively integrate its solutions. Key industry veterans join the board, strengthening strategic direction. The funding decisively propels financial inclusion efforts. It modernizes risk assessment practices across lending and housing. Nova Credit cements its role as an essential credit infrastructure provider. The company fosters responsible growth and expands access to vital financial services through advanced analytics and robust FCRA compliance frameworks.

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