Frontier AI and autonomous mobility momentum this week, spanning mega-rounds, product releases and new vertical-specific automation

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Anthropic Launches Cowork Legal Automation Tool and Releases Claude Opus 4.6
Anthropic’s has now expanded its Cowork capabilities with a newly released automation tool aimed at routine legal work, including contract reviews and legal briefings, while emphasising that outputs should be reviewed by licensed attorneys. Anthropic also released Claude Opus 4.6, which it said improves longer-duration tasks such as research, financial analysis, and creating spreadsheets and presentations, alongside a preview assistant for drafting and editing PowerPoint presentations and updates to its Excel assistant. The announcements triggered a sharp market reaction, with investors selling off a range of legal software, analytics and data providers amid concerns about intensifying competition in legal AI. Anthropic is an underlying asset of VenCap 6, VenCap 13B, VenCap 15, VenCap 16 and VenCap 17.

Waymo Raises $16 Billion at a $126 Billion Valuation
Waymo raised $16 billion at a $126 billion valuation to accelerate growth of its driverless taxi fleet and expand into additional cities internationally, including London and Tokyo. The company reports around 400,000 rides per week across six major US metropolitan areas and said it more than tripled annual volume in 2025 to 15 million rides (over 20 million lifetime rides). The funding is intended to support scaling into many more markets, as Waymo positions itself as a commercial ride-hailing platform rather than a long-running pilot. Waymo is an underlying asset of VenCap 6, VenCap 13B, VenCap 15, VenCap 16, VenCap 17 and VenCap 18.

ElevenLabs Raises $500 Million at an $11 Billion Valuation
ElevenLabs raised $500 million at an $11 billion valuation, more than tripling its reported valuation versus its January 2025 round. The company said the proceeds will support research and product development alongside international expansion, including markets such as India, Japan, Singapore, Brazil and Mexico. Management also indicated an ambition to build “agents” beyond voice and incorporate video, following a January partnership with LTX focused on audio-to-video content. ElevenLabs reported strong momentum, closing the year at $330 million ARR, and noted rapid ARR growth earlier this year. ElevenLabs is an underlying asset of VenCap 16 and VenCap 17.

Alan In Talks to Raise More Than €100 Million at a €5 Billion ($5.9 Billion) Valuation
Alan is reported to be in discussions to raise more than €100 million at a €5 billion ($5.9 billion) valuation as it seeks to expand its customer base, although the round size has not been finalised. The French health-insurance startup positions itself as a digital, full-service platform integrating insurance with healthcare services and access to doctors. Alan last raised €173 million at a €4 billion valuation in late 2024. Alan is an underlying asset of VenCap 6, VenCap 10A, VenCap 13A and VenCap 13B.

Granola In Talks to Raise at Least $100 Million at Over $1 Billion Valuation
Granola, a viral AI-powered meeting notes app, has become a fixture with VCs and is increasingly used by founders and operators since launching in May 2024. The London-based company is now reported to be in talks to raise at a valuation of over $1 billion, with a new round of at least $100 million (with Index Ventures expected to lead). This would represent a step-up from its Series B in May 2025, when Granola raised $43 million at a $250 million valuation. Unlike competing tools that join calls as a visible “bot”, Granola runs in the background on an iPhone or MacBook—an approach that has helped adoption but can raise ethical and legal considerations around consent in two-party jurisdictions such as California. Granola is an underlying asset of VenCap 6, VenCap 16 and VenCap 17.