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Factory hits $1.5B valuation to build AI coding for enterprises

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More than three years after the emergence of generative AI, AI-assisted coding remains by far the most popular and lucrative use case for the technology.

Although multiple companies — including Anthropic, maker of Claude Code, as well as Cursor and Cognition — are already vying for dominance, investors believe there is room for at least one more player.

On Wednesday, Factory, a startup developing AI agents for enterprise engineering teams, announced it had raised $150 million at a $1.5 billion valuation. The round was led by Khosla Ventures, with participation from Sequoia Capital, Insight Partners, and Blackstone. Keith Rabois, a managing director at Khosla Ventures, joined the startup’s board.

Factory founder Matan Grinberg told the Wall Street Journal that the company’s key differentiator is its ability to switch between different foundation models, such as Anthropic’s Claude or Chinese AI startup DeepSeek. However, startups like Cursor also don’t rely on a single model to generate code.

Factory’s customers include engineering teams at Morgan Stanley, Ernst & Young, and Palo Alto Networks.

The startup was founded in 2023 after Grinberg, then a PhD student at UC Berkeley, cold-emailed Sequoia partner Shaun Maguire. The two bonded over mutual academic interest. (Maguire’s PhD from Caltech is in the same area of physics Grinberg was studying.)

Maguire convinced Grinberg to drop out and launch Factory, with Sequoia backing the startup at the seed stage.

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From Super-Sub to World Cup Superstar! Kanyinsola Yusuf Wins FIFA Player of the Match as Flamingos Stun North Korea 3-1

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Nigeria’s teenage sensation Kanyinsola Yusuf has emerged as one of the standout performers at the 2026 FIFA U-17 Women’s World Cup in Morocco after winning the Player of the Match award in the Flamingos’ sensational 3-1 victory over defending champions North Korea on Friday.

The prestigious individual recognition crowned an unforgettable afternoon for Yusuf, whose second-half goal helped Nigeria dismantle the tournament favourites and secure a place in the Round of 16.

Read Also: Flamingos Stun Defending Champions North Korea 3-1, Storm Into U-17 Women’s World Cup Round of 16 | Sports247 Nigeria

Yusuf struck in the 56th minute to give Nigeria a commanding three-goal advantage, completing a remarkable attacking display against opponents who had scored 12 goals in their opening two group matches.

Oluwakemi Adegbuyi had opened the scoring in the 15th minute before Oluebube Umejiaku doubled Nigeria’s lead in the 38th minute, leaving the defending champions stunned at half-time.

North Korea pulled a goal back through Yu Jong Hyang’s 82nd-minute penalty, but the Flamingos held firm to record a famous victory.

For Yusuf, the individual honour represents another significant moment in a rapidly developing World Cup campaign.

The youngster had already made an impact in Nigeria’s opening 2-1 defeat to Poland, coming off the bench and helping spark a late fightback, before playing her part in the team’s recovery.

Her emergence adds another exciting dimension to coach Akeem Busari’s squad, which has transformed its fortunes after beginning the tournament with defeat.

Nigeria followed that setback with a 2-0 victory over Puerto Rico before producing Friday’s stunning performance against the reigning champions.

Yusuf’s award also means Nigerian players have claimed the Player of the Match prize in consecutive victories, following Adegbuyi’s recognition against Puerto Rico.

With the Flamingos now through to the knockout stage, Yusuf’s growing influence could prove crucial as Nigeria chase a historic first title.

From an impact substitute against Poland to a match-winning star against North Korea, Yusuf is rapidly making her name on the world stage.

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BOI to expand financing for agriculture, healthcare manufacturing in 2027

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The Bank of Industry (BOI) said it will expand financing for agriculture, local healthcare manufacturing and digital businesses in 2027.

The bank stated this as it seeks to consolidate the gains of its 2025–2027 corporate strategy and strengthen Nigeria’s industrial development.

The bank’s Managing Director and Chief Executive Officer, Olasupo Olusi, disclosed the plan on Thursday at a meeting in Lagos, where he outlined the bank’s priorities for the final year of the strategy.

Mr Olusi said BOI would work with the Federal Ministry of Industry, Trade and Investment on the National Industrial Finance Compact to attract more long-term capital into Nigeria’s industrial sector.

He also said the bank would deploy its new European Investment Bank facilities to agriculture and local healthcare manufacturing to increase domestic production of food and medicines.

The funding includes €85 million secured from the European Investment Bank for agriculture and another €50 million for healthcare manufacturing in 2026, as part of more than €2.2 billion in new funding the bank has secured for Nigerian industry since 2024.

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READ ALSO: BOI supports 1.68m jobs as lending rises 26% to ₦644.9 billion

“We will deploy our new European Investment Bank facilities into agriculture and local healthcare manufacturing, so that Nigeria produces more of the food and medicines it consumes,” he said.

The bank also plans to expand its information and communications technology (ICT) and digital economy portfolio through the Investment in Digital and Creative Enterprises (iDICE) programme.

Mr Olusi said the initiatives formed part of the bank’s efforts to consolidate its achievements and meet the targets of its 2025–2027 corporate strategy.

“2027 is the final year of our strategy, and our task is to consolidate and meet every target we set,” the BOI boss, Mr Olusi, said.

BOI said it disbursed N644.9 billion in 2025, reaching 12,501 businesses and supporting 1.68 million jobs.


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