July Portfolio Update

Matternet announced it completed a go-public transaction that made it the first publicly reporting pure-play drone delivery company in the United States. COO Alex Norman discussed the milestone and related lessons from medical logistics on the Uncrewed Views podcast with Matthew Collins. The conversation also covered Matternet’s perspective on how the drone delivery industry will scale over the coming years.

The Stockholm Patent and Market Court ruled that Google illegally favored its own price comparison service and must pay $1.97 billion (including interest) to Klarna’s PriceRunner unit, in what the court described as the largest antitrust damages award in Sweden. Klarna had sought $8 billion, alleging Google’s preferential display from 2008–2023 harmed PriceRunner; Google says it will review legal options and may appeal. Klarna’s shares rose about 10% in after-hours trading following the ruling.

Nasdaq announced it will route its proprietary TotalView order-book feed through Pyth's Data Marketplace, making full depth-of-book data and the Net Order Imbalance Indicator available via Pyth's pull-oracle across 100+ blockchains. This is the first time Nasdaq has delivered proprietary depth-of-book data through decentralized infrastructure and expands Pyth's roster of institutional contributors. The integration enables DeFi builders and on-chain systems to access institutional-grade market depth but carries practical caveats around latency for HFT use and unresolved downstream licensing questions for on-chain consumers.

SpaceX launched two Falcon 9 missions within eight hours on July 13–14, 2026, deploying 27 and 29 Starlink satellites and successfully recovering both first-stage boosters. The flights included B1093's 15th and B1080's 28th missions and increased the active Starlink fleet to 10,839 satellites. This milestone was the 600th flight of a flight-proven Falcon 9 stage and SpaceX's 83rd Falcon 9 mission year-to-date.

ALICE’s CEO René Morkos discussed the new strategic alliance with McKinsey in a Q&A with Commercial Observer, describing the collaboration as combining ALICE’s scheduling and optimization algorithms with McKinsey’s construction and change-management capabilities. The partnership is framed to help global construction firms implement organization-wide, data-driven scheduling and transformation. The announcement focuses on adoption and change management rather than disclosing specific commercial deals or revenue impacts.

The company expanded from one to two advanced manufacturing facilities (Los Angeles and Denver), deployed additional robotics and automation to increase production capacity, and broadened its platform to light-gauge steel for multi-family and multi-story housing. It reports delivering affordable housing communities, including the opening of Welcome Home Village in San Luis Obispo, and states a pipeline of $62+ million in customer orders and qualified opportunities.

Blockdaemon is providing its MPC-based wallet platform to support Tradeweb's real-time transacting of tokenized U.S. Treasuries on the Canton Network. The deployment includes key management, threshold governance, signing, transaction crafting, validation, and broadcasting to meet institutional operating workflows for tokenized assets. This is a high-profile collaboration with an established electronic trading venue and indicates live infrastructure support for institutional tokenization use cases.

K2 Space reports its engineers have built and launched the most powerful dual-channel Hall thrusters currently in orbit, constituting an in-orbit deployment of core propulsion hardware. The company says it is scaling to produce hundreds of satellites by 2030, cites over $500M raised and $1B in contracts, and is opening a Seattle-area engineering hub to expand engineering capacity.

Kraken (Payward) reports its xStocks program has grown from 60 to 500+ tokenized equities and now issues 8 of the top 15 tokenized assets by market cap. The product has 100+ integrated partners across seven blockchain ecosystems, ~200,000 holders worldwide, and has processed over $35B in total volume. The company plans year-two expansion into non-US equities, commodities, deeper liquidity, and pre-IPO access.