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# Who Let the Dogs Out, Sequoia?
- URL: https://www.theinvestorsociety.com/who-let-the-dogs-out-sequoia/
- Published: 2026-10-26T13:16:54.000Z
- Updated: 2026-10-26T13:16:54.000Z
- Author: Jose Kont
- Tags: The Daily Dealflow

Hi, and welcome to a new edition of [The Daily Dealflow](https://www.theinvestorsociety.com/tag/the-daily-dealflow/) — the 5-minute briefing that gives you clear context on capital flows and market-moving trends across the Americas, from Silicon Valley to Buenos Aires. Let's dive in.

## 🏆 Deal of the Day

Warhound, a startup built by Colossal Biosciences’ Ben Lamm with Anduril’s Palmer Luckey as a partner, came out of stealth with $200M at a $1.2B valuation. Sequoia, 8VC, Corner Ventures and In-Q-Tel, the venture firm backed by the CIA and other U.S. intelligence agencies, are the investors. The product is genetically engineered working dogs for the military, law enforcement and emergency response – [TechCrunch](https://techcrunch.com/2026/10/22/ben-lamm-raises-200m-for-warhound-to-engineer-war-dogs-and-arm-them-with-anduril-gear/?ref=theinvestorsociety.com).

**Why This?:** Over 80% of U.S. military working dogs come from Europe, and fewer than half are fit for service. Investors are paying a unicorn price to fix that supply problem.

**Positive Context:**

- The team starts from Belgian Malinois and German Shepherd cell lines and edits genes to improve health and performance. The first batch is about to be cloned and incubated, with births expected early next year and service possible within two years. Viagen, another Colossal-owned company, will handle the cloning.
- Expected buyers include first responders, the Department of Defense, military service groups and police. Anduril would supply gear such as protective vests and goggles with sensors for handler coordination.

**Yes, but:**

- No dog has been born yet, and pricing is undisclosed.
- Questions about civilian safety remain. Lamm’s answer is that each dog will be trained like any military working dog and managed by whoever buys it. The American Humane Society is helping certify the training program.

![](https://storage.ghost.io/c/40/72/4072b0a5-dd13-4755-b3a4-f7b56403df30/content/images/2026/10/Warhound.png)

Image Credits: Warhound.

### 💰 Venture Capital

*Submit a deal for The Daily Dealflow newsletter via DM* [*here on LinkedIn*](https://www.linkedin.com/company/theinvestorsociety/?ref=theinvestorsociety.com)*.*

**Blacksmith (US) – $66M Series C**, automated software-testing infrastructure founded by Aditya Jayaprakash, Aayush Shah, and Aditya Maru. Sequoia led, joined by Premji Invest, Peak XV, GV, and Y Combinator. The unicorn owns its servers—selling picks and shovels for the AI-code gold rush – [The Investor Society](https://www.theinvestorsociety.com/blacksmith-sequoia-leads-us-66m-at-us-1b-to-test-the-flood-of-ai-written-code/).

**Tractian (Brazil) – $130M Series D**, at a $1.4B valuation, sensors and an AI agent layer that monitor industrial equipment, diagnose failures and suggest action plans. Sapphire Ventures led, joined as co-lead by Catalyst, the growth equity arm of the UK’s M&G, with N47, General Catalyst, Bosch Ventures, Monashees, Endeavor Catalyst and Y Combinator also in. Founded in 2019 by CEO Igor Marinelli and COO Gabriel Lima, it now has annualized revenue near $100M, about half from the United States, and expects to turn cash-flow positive before the end of next year. The raise makes it Latin America’s most valuable AI startup, ahead of Enter, which hit $1.2B in May – [Startups](https://startups.com.br/negocios/rodada-de-investimento/tractian-levanta-us-130m-e-e-novo-unicornio-de-ia-made-in-brazil/?ref=theinvestorsociety.com).

**Warp Sciences (US) – $215M**, round not specified, a domestic chemistry contract research platform that pairs expert chemists with AI and robotics to make and test compounds for biotech and pharma. Lightspeed led, with Premji Invest, Mayfield, IVP, Lux, Conviction and Menlo Ventures among the participants. Kevin Weil is CEO, and the money goes to U.S.-based chemistry labs and automation – [FinSMEs](https://www.finsmes.com/2026/10/warp-sciences-raises-215m-in-funding.html?ref=theinvestorsociety.com).

**WILDE (US) – $40M**, round not stated, protein-packed chips and crackers made mainly from bone broth, egg whites and chicken. It has passed $100M in sales and sits in more than 35,000 U.S. retail locations. Yes, the chip is made of chicken – [The Hustle](https://thehustle.co/newsletters/23-10-2026?ref=theinvestorsociety.com).

**Coherence Neuro (US) – $45M Series A**, implantable brain-tumor monitoring and electrical-stimulation devices, cofounded by Ben Woodington and Elise Jenkins. Founders Fund and OpenAI Startup Fund co-led. Its coin-sized implant has undergone three brief human tests; long-term trials remain ahead—promising technology, not proven treatment – [The Investor Society](https://www.theinvestorsociety.com/coherence-neuro-us-45m-from-founders-fund-openai-for-an-ai-brain-cancer-implant/)

![](https://storage.ghost.io/c/40/72/4072b0a5-dd13-4755-b3a4-f7b56403df30/content/images/2026/10/Screenshot-2026-10-26-at-7.05.48---AM.png)

When it comes to billionaires, a handful of states dominate.⁣ California leads the country in billionaire residents, but Texas takes the top spot in combined wealth at $1.94 trillion, thanks largely to Elon Musk's fortune.⁣ Souce: Forbes. 

### 🏛️ Private Equity

**Octus (US) – $3.5B**, sale of a credit intelligence data provider to LSEG by Permira. Permira bought a controlling stake from Warburg Pincus in 2022 at about $1.3B, so the exit values it at roughly 2.7 times that mark. Reuters-attributed estimates put Octus EBITDA near $145M this year and $200M in 2027, and Bloomberg frames the purchase as a way for LSEG to shield itself from AI disruption – [Bloomberg](https://www.bloomberg.com/news/articles/2026-10-22/lseg-agrees-3-5-billion-deal-to-buy-credit-firm-octus?ref=theinvestorsociety.com), [Pipeline Road](https://pipelineroad.com/news/20261014-lseg-in-talks-to-acquire-permira-backed-octus-in-deal-valued?ref=theinvestorsociety.com).

**Presto (Colombia) – undisclosed price**, asset purchase out of judicial liquidation. Nutresa’s restaurant unit, which already owns El Corral and Mimo’s and is controlled by Grupo Gilinski, bought the 1981-founded burger chain as a going concern. Colombian President Abelardo de la Espriella said the deal preserves 700 jobs, and the Gilinski family also recently bought Tío Rico in Venezuela and Universal Sweet Industries in Ecuador – [Valora Analitik](https://www.valoraanalitik.com/grupo-gilinski-comprara-presto-filial-nutresa-duena-de-el-corral-y-mimos/?ref=theinvestorsociety.com).

**Arcosa (US) – $8.5B enterprise value**, strategic acquisition by CRH, completed after the June 22 announcement. Arcosa is a U.S. provider of aggregates and critical infrastructure products, and CRH CEO Jim Mintern called it “an excellent strategic fit.” CRH will update its full-year 2026 guidance with Q3 results on October 29 – [Business Wire](https://www.businesswire.com/news/home/20261022078096/en/CRH-completes-%248.5B-acquisition-of-Arcosa?ref=theinvestorsociety.com).

**Skullcandy (US) – undisclosed price, acquisition by Bose**, which had already lent its audio expertise to new Skullcandy headphones and earbuds under a technology partnership. Industry sources say Bose will keep Skullcandy as a separate brand. Mill Road Capital took the company private in 2016 – [ChannelNews](https://www.channelnews.com.au/bose-buys-skullcandy-questions-raised-over-future-of-both-brands-distribution/?ref=theinvestorsociety.com).

### 📈 Public & Capital Markets

![](https://storage.ghost.io/c/40/72/4072b0a5-dd13-4755-b3a4-f7b56403df30/content/images/2026/10/Screenshot-2026-10-26-at-7.08.27---AM.png)

Closing Market Figures, Fri 23 Oct, 2026.

**Meta (US, Nasdaq)** – Q3 earnings and stock split, social media and AI. Revenue came in near $65B, the 17th straight quarter above expectations, and the company committed $825B to future contracts, many tied to AI. The shares fell 7%. A two-for-one split is planned for January through nonvoting Class C shares, which keeps Mark Zuckerberg’s voting power at nearly 61% – [Brew Markets](https://www.brewmarkets.com/issues/latest?ref=theinvestorsociety.com).

**SpaceX and Crown Castle (US, Nasdaq and NYSE)** – earnings and deal reports, space and towers. SpaceX rose 1.58% to $147.04 after a $4.4B Q3 profit but guided Q4 capex to $35B to $40B. It debuted at $135 on June 12 and hit a record $225.64 four days later. Crown Castle jumped 11.65% on reports that SpaceX is in talks to lease access to about 80,000 U.S. cell sites – [TheStreet](https://www.thestreet.com/stock-market-today/stock-market-today-dow-jones-sp-500-nasdaq-updates-oct-23-2026?ref=theinvestorsociety.com).

**Procter & Gamble, Lockheed Martin and Spotify (US, NYSE)** – earnings, consumer staples, defense and streaming. P&G rose 5.58%, its biggest one-day gain since March 2020, after sales grew 4% and it raised its growth forecast. Lockheed’s backlog jumped 27% to a record $292B and the stock gained 6.87%. Spotify climbed 11.22% after adding 6 million paying subscribers, reaching 306 million – [Brew Markets](https://www.brewmarkets.com/issues/latest?ref=theinvestorsociety.com).

**American Express (US, NYSE)** – Q3 earnings, payments. Amex beat profit expectations and raised its full-year forecast, but the shares fell 2.85% as it plans to cut about 5% of its workforce and take a $336M restructuring charge – [TheStreet](https://www.thestreet.com/stock-market-today/stock-market-today-dow-jones-sp-500-nasdaq-updates-oct-23-2026?ref=theinvestorsociety.com).

### 📅 ICYMI

![](https://storage.ghost.io/c/40/72/4072b0a5-dd13-4755-b3a4-f7b56403df30/content/images/2026/10/reactor-work-1920.webp)

Image Credits: Marathon Fusion.

[**A San Francisco startup called Marathon Fusion**](https://www.marathonfusion.com/?ref=theinvestorsociety.com) claims it turned mercury into gold using fusion neutrons, a process it says could yield 5,000 kg of gold per gigawatt of thermal energy. It has released no data or third-party verification.

**Amazon** [**plans**](https://www.geekwire.com/2026/amazon-plans-record-300k-holiday-hires-as-the-rest-of-retail-pulls-back/?%5Fhsenc=p2ANqtz--7uRyeKUx97WuFekw6DecZuN%5FCcjreon0JaHRqMK3D%5FMuULEL8D5mJfGiMGTz%5FVgUQztfpgytj9ZGWcwlU2ezZCP6EoQ&%5Fhsmi=445615346&ref=theinvestorsociety.com) **to hire 300k+ people this holiday season** for part-time and full-time roles across the US, a 20% increase from last year’s seasonal hiring. 

[**United Airlines opened its biggest-ever airport lounge**](https://www.cnbc.com/2026/10/21/united-airlines-biggest-airport-lounge-houston.html?%5Fhsenc=p2ANqtz-938266oWwrldfICANwWCAUY2T1o%5FWFwulUrN6dG2ge6nf2JTK6tdwEn6u8iKpaM1sv5u3UcjlO7Cnn0dTl5R7LYmL-ng&%5Fhsmi=445397822&ref=theinvestorsociety.com) last week at George Bush Intercontinental Airport’s Terminal B in Houston, where it invested $2.6B to open a 54k-square-foot space that can hold 800 people.  
  
*See you tomorrow,*

[***Katherine Castelán***](https://www.theinvestorsociety.com/author/katherine/) ***&*** [***Jose Kont***](https://www.linkedin.com/in/jose-kont/?isSelfProfile=true&ref=theinvestorsociety.com)  
*The humans behind The Investor Society*