Startup Flash Report

STARTUP FLASH - February 17, 2026

Ricursive Intelligence Secures $335M at $4B Valuation in Record 4-Month AI Chip Mega-Round

TOP 3 STORIES:
1. Meridian Raises $17M Seed Led by a16z for AI-Driven Spreadsheet Platform: New York-based Meridian closed a $17M seed round at $100M post-money valuation, led by Andreessen Horowitz and The General Partnership, with QED Investors, FPV Ventures, and Litquidity Ventures participating.[3] Founders can leverage this to build auditable AI financial models, reducing errors in forecasting and attracting enterprise clients in fintech; entrepreneurs should note a16z's focus on AI infrastructure signals validation for agentic tools in boring-but-essential workflows. Source
2. Progcap in Talks for $100M Round Potentially Led by TPG: India-based supply-chain financier Progcap is negotiating a $100M equity round, possibly led by TPG with Mitsubishi UFJ participation, to scale its NBFC Progfin amid organized growth in digitized payments.[4] This offers founders in emerging markets a blueprint for scaling via large bets on trade finance; VCs should prioritize platforms digitizing GST and payments, as seen with peers like Mintifi's $180M raise. Source
3. Ricursive Intelligence Lands $335M at $4B Valuation in AI Chip Sprint: Ricursive Intelligence achieved one of the fastest AI chip mega-rounds, raising $335M at $4B valuation in just 4 months.[8] Entrepreneurs in hardware-AI should target rapid execution to mirror this speed-to-scale; the round underscores VC appetite for compute infrastructure, urging founders to align with national priorities like American dynamism. Source

Flash Insight: AI and fintech dominate mid-February funding with mega-rounds like Ricursive's highlighting breakneck scaling in chips, while seed deals like Meridian's show a16z doubling down on practical AI tools.[3][8] Supply-chain plays like Progcap signal VC revival in emerging market infrastructure amid payment digitization, with 50+ impact opportunities opening for SDG-aligned student ventures.[1][4] Founders should prioritize AI execution and policy-adjacent impact to capture capital flows, as runways extend into 2026 for resilient teams.[1][6]

Sources:
[1] https://impactfunding.substack.com/p/mid-february-update-50-new-funding
[3] https://www.thesaasnews.com/news/meridian-raises-17-million-seed-round
[4] https://economictimes.com/tech/funding/progcap-in-talks-for-100-million-funding-round-likely-to-be-led-by-tpg-sources/articleshow/128432363.cms
[8] https://www.techbuzz.ai/articles/ricursive-intelligence-raises-335m-at-4b-valuation-in-4-months