Startup Funding

Blackstone Said to Weigh $5 Billion-Plus Sale of Beacon Offshore

Blackstone Inc. is in the early stages of weighing a sale of Beacon Offshore Energy, a Gulf of Mexico driller it’s owned for about a decade that could fetch more than $5 billion, according to people familiar with the matter.

Startup Funding

Indian AI startup Emergent raises $70 million from Khosla Ventures and SoftBank Vision Fund

Emergent, the fast-growing AI software creation platform that helps anyone build full-stack, production-ready web and mobile applications, announced it has raised $70 million in a Series B funding round from Khosla Ventures and SoftBank Vision Fund 2. The round also saw participation from Prosus, Lightspeed, Together, and Y Combinator. In total, Emergent has now raised $100 million within seven months of launch. The startup will use the latest funds to fuel continued team expansion, accelerate product development, and enter into new markets, as demand for AI-powered software creation surges among entrepreneurs and small businesses globally. It claims to have scaled to $50 million in annual recurring revenue (ARR) in just seven months and is on track to surpass $100 million ARR by April 2026. Prior to the latest round, Emergent raised strategic investment from Google's AI Futures Fund in December last year. “Software creation is undergoing a structural shift,” said Mukund Jha, co-fou...