Thursday, October 9, 2025

October 09, 2025 • Estimated Reading Time: 8 minutes

Thursday, October 9, 2025 

In today’s digest, New York rents take a dip, Comic Con kicks off, and how AI is reshaping the venture capital space. 💰

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  • Good news for renters — prices across the city nudged down last month. Manhattan’s median rent fell 1.1% to $4,550, with small drops in Brooklyn and Queens too. Bidding wars may still be common, but the market’s cooling from record highs. 🏙️ (Crain’s New York Business)

  • New York Comic Con takes over the Javits Center today through the weekend, bringing together fans, cosplayers, and stars for four days of panels, merch drops, and immersive experiences across comics, film, and gaming 👾 (FOX 5 NY)

  • Get out your rain gear! The first nor’easter of the season is expected to hit the New York area over the weekend, with low temperatures, heavy rain, and 50mph winds. (Gothamist) ☔

    • NYC Emergency Management is watching for potential coastal flooding and reminding coastal area residents to check flood plans and move cars from flood-prone streets.


In other reading:

Bridge Rounds Surge as AI Reshapes Venture Funding

Carta’s Q2 2025 State of Private Markets paints a nuanced picture: Investors are funding more deals but writing smaller checks. 💸 

At every stage from seed through Series D, the number of new venture investments rose quarter-over-quarter, even if total cash raised declined at most stages.

  • Average round sizes fell 3–9%, suggesting leaner startups and more disciplined investing.

  • Still, valuations are climbing, especially at early stages: The median Series A valuation hit $47.7 million, up 20% year-over-year and a record high.

  • Seed valuations are also at all-time highs, reaching $15.6 million median pre-money.

🤖 AI is driving selective optimism: Investors appear more cautious but remain bullish on AI-driven startups that can do more with less. Carta notes a surge in funding for:

  • SaaS companies (+91% in two years), fueled by AI integration.

  • Hardware startups (+110%), as demand for advanced chips continues to spike.

🌉 Bridge rounds (AKA those short-term financing injections) snagged a record 16.6% of all VC funding in Q2 — the highest since 2022.

  • Once a stopgap, bridges are now a mainstream strategy for startups buying time in a slower market.

  • These were most common at Series A (22.5% of cash raised), followed by late-stage rounds like Series D.

  • Median gap between rounds: 696 days — nearly two years.

🗽 The New York angle: New York claimed a strong 10.3% of all VC dollars, up 36% since 2023.

The takeaway: Founders are stretching capital, investors are rewarding fundamentals, and bridges are driving growth.

In other reading:

  • AI creates art. So we need to rethink how copyright protects artists (The Information)

  • AI came from tech, but the most advanced AI businesses are in every industry (Fortune)

  • Crosby, a NYC-based agentic AI law firm, raised $20 million in Series A funding co-led by Bain Capital Ventures, Index and Elad Gil, with participation from Sequoia, Cooley LLP and Patrick Collison.

  • Nilo Therapeutics, a New York-based immune disease treatment developer, raised $101 million in Series A. The Column Group, DCVC Bio and Lux Capital led the round, with participation from the Gates Foundation and Alexandria Venture Investments.


  • OraLiva, a New York City-based developer of AI-assisted oral cancer detection technology, raised $2 million in seed funding. Dr. Preetpal Sidhu led the round and was joined by DCVC, RTP Angel Fund, and the NYU Innovation Venture Fund.


  • October 9: NYC Tech Poker Tournament, where up to $500 in tech prizes and the chance to meet some of NYC’s best engineers are at stake. Register here.

  • October 13: How AI is Changing the Playbook for Consumer Subscription with Phil Carter, who will share his playbook for growing consumer subscriptions and how AI is reshaping the game. Register here.

  • October 16: 5BORO Institute’s NYC Child Care Summit, a convening of leaders from across sectors in NYC to discuss the critical role that accessible, affordable child care plays in driving a healthy and thriving city, and the opportunity that business leaders and large employers have to drive policy change. RSVP by emailing [email protected].


  • October 23: NYC AI Demos, a series collab between Tech:NYC, Pensar AI, and the Refinery at Domino, this month featuring live demos from Tabs, Whop, Slingshot AI, Rogo, and more to be announced. Register here.

  • October 23: Tech:NYC and Crain’s Tech Summit, a day of conversations that explore how AI is transforming key industries — from reshaping real estate tools and bedside care to revolutionizing financial strategies and raising urgent legal considerations. Register with promo code FRIENDSOFTECHNYC for a 15% discount here.

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