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CROSS-CATEGORY: July 14 Capital Tilts to Sovereign AI and Physical-World Verticals — Horizontal SaaS Conspicuously Absent
Tech Startups' July 14 roundup (Blackstone, General Catalyst, Index, Kleiner Perkins, Lightspeed, Sequoia) shows the day's checks flowing to sovereign/'trusted compute' (Valarian $50M), physical-world verticals (TerraFirma $115M in construction AI/robotics), fintech rails (Velocity $38M, Fomo $75M), plus defense and quantum megadeals. Notably missing: horizontal productivity/tooling SaaS. The pattern across unrelated categories is the same — capital is chasing AI that governs infrastructure or does verticalized/physical work, not another seat-based horizontal app.
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