Round Led

• ThreatLocker has secured $190 million in a Series F funding round led by Elephant, while Act Security emerged from stealth with $60 million to build an action-centric cloud security platform. • In a major industry consolidation, Cyera has acquired Oasis Security in a deal valued at $1 billion. • Bugcrowd launched Savant Pathseeker™, introducing the first solution in its Agentic Offensive Testing line to provide continuous agentic pentesting across attack surfaces.

Fresh attack comes after Iran’s supreme leader warned Washington would pay for ‘seeking to escalate’ the conflictTwo US troops killed and one missing in Jordan after Iranian attacksThe US military said it launched new airstrikes against Iran to “swiftly punish” the country’s Revolutionary Guard for an attack in Jordan that killed two American service members, left one missing and four requiring hospitalisation.Speaking to the New York Post, the US president, Donald Trump, described the deaths as a “shame”. “They did it because they don’t want to see Iran have a nuclear weapon,” Trump said of the troops. “And it just shows you how bad (the Iranians) are,” he added.The two US troop deaths on Friday were its first from direct Iranian fire since the opening days of the war. US defence secretary Pete Hegseth posted on X: “Their sacrifice only stiffens our resolve.”Iran appeared to target Saudi Arabia as ​well as other US Gulf allies and Jordan on Saturday after US attacks on Iranian bridges, power facilities ‌and other infrastructure.Mojtaba Khamenei said US actions had shown that Trump’s signature was “utterly worthless and devoid of credibility”, warning of “even heavier costs and further humiliation” for ‌the US, in a statement carried by the ‌official social media accounts of Iran’s supreme leader and state media.The American deaths brought the number of US service members killed since the war began to 16, while more than 430 have been injured. Iran’s health ministry said on ‌Saturday that 50 people had been killed ​and more than 500 injured in US strikes ​on the country over the past three weeks.In Iraq, a base near Irbil of the Kurdistan Freedom party, an Iranian Kurdish dissident group, was struck by a drone early on Sunday, wounding eight of its members, according to a military official with the group.The most significant damage from Iranian strikes on Saturday occurred in Kuwait, where a water desalination plant and an oil facility were hit, according to the Kuwait authorities and the Kuwait Petroleum Corporation. It was the second attack against a desalination plant in two days in the tiny nation that depends on desalination for 90% of its drinking water. Continue reading...

Tube stoppages due on two 24-hour periods from midday on Tuesday and Thursday next week but sources say RMT seeking talksHopes have been raised that next week’s strikes by London Underground drivers could yet be averted, after sources said the RMT union had put out feelers for talks.The RMT members, almost half of London’s Tube drivers, are due to strike for two 24-hour periods from midday on Tuesday and Thursday, closing some lines entirely and bringing widespread travel disruption to the capital until the weekend. Continue reading...

• Moonshot AI, a leading Chinese chatbot maker focused on commercial AI applications, secured $20 billion in its Series E funding round led by Meituan. • The massive investment, one of the largest in AI history, will accelerate development of advanced AI models and expand commercial deployments across Asia. • This funding underscores China's aggressive push in AI amid global competition, positioning Moonshot to challenge U.S. giants like OpenAI.

• China's AI startup DeepSeek is closing in on a massive funding round that could value the company at approximately $45 billion, more than four times its valuation from discussions just two weeks prior. • China Integrated Circuit Industry Investment Fund (Big Fund) is leading the financing round, with Tencent and Alibaba participating to provide strong domestic backing. • The funding round represents a dramatic increase in DeepSeek's valuation and underscores China's aggressive push to develop competitive AI capabilities independent of Western technology.

• A leading AI startup focused on enterprise AI solutions secured $150 million in Series B funding on April 25, 2026. • The round was led by Lightspeed Ventures and SoftBank, signaling strong investor confidence in scalable AI technologies for businesses. • This funding underscores accelerating growth in the US enterprise AI sector amid rising demand for efficient AI deployment tools.

In today’s newsletter: A Waitrose worker’s dismissal ​after confronting a shoplifter has become a flashpoint in a wider debate over rising retail crimeGood morning. Overnight, the US and Iran agreed to a two-week conditional ceasefire, which included a temporary reopening of the strait of Hormuz. It followed a last-minute diplomatic intervention led by Pakistan, but the Israeli government have said the deal does not include Lebanon.You can read our main report here and our live blog will be tracking news throughout the day. My colleague Martin Belam will have more details on what the pause in the fighting means in tomorrow’s First Edition. Today, we are covering the scourge of shoplifting in the UK.Middle East | Donald Trump said he had agreed to a Pakistani-brokered two-week ceasefire, shortly before a deadline at which he had threatened to end the “whole civilisation” of Iran. Iran’s foreign minister, Abbas Araghchi, issued a statement saying: “For a period of two weeks, safe passage through the Strait of Hormuz will be possible via coordinating with Iran’s armed forces.”UK news | Millions of graduates will have the interest on their student loans capped at 6% from September as a temporary measure to protect them from the risk of rising inflation driven by war in the Middle East.Entertainment | The Wireless music festival has been cancelled after the artist formerly known as Kanye West was banned from entering the UK amid a deepening political row over his previous antisemitic statements.Politics | Reform UK would stop issuing visas to people from any country that continues to demand compensation from the UK for its role in the transatlantic trade in enslaved people, the party has said.World news | Australia’s most decorated soldier, Ben Roberts-Smith, has not applied for bail and will remain in custody after being charged with war crimes. The former SAS soldier and Victoria Cross-recipient is charged with five counts of “war crime – murder” in relation to alleged offences in Afghanistan between April 2009 and October 2012. Continue reading...