Money Moves is a recurring series where we chart the raises, grants, contracts, mergers and other funding news of tech companies across our regions. Have a tip? Email us at [email protected].

A Philly-based AI company is having a big year, but it’s not all good news.

Datavault AI recently raised $29 million, while it deals with ongoing litigation. 

Elsewhere in the ecosystem, investments are being made in HIV research and digital literacy programming. 

Keep scrolling to get the details on these and more money moves. 

Datavault raises $29M amid class action lawsuit 

Datavault AI raised $29 million last month, according to an SEC filing, just three weeks after it became the subject of a class action lawsuit. 

When the startup moved its headquarters to Philadelphia from Oregon last fall, it opened a new office in Center City with plans to hire dozens of local staff, CEO Nathaniel Bradley previously told Technical.ly.

Since then, it’s been on an acquisition spree, with three planned for 2026. The company, which helps businesses monetize their data, signed a definitive agreement to acquire cybersecurity company CyberCatch Holdings in August, and bought blockchain trading platform NYIAX and entertainment technology company API Media Innovation earlier this year. 

Now, despite the suit, the company plans to continue operations as usual. 

The court filing alleges that the company misled investors about its partnerships, trading activity and affiliation with a convicted felon who pleaded guilty to making false statements to the SEC. The allegations draw in part on a 2025 report by due diligence firm Wolfpack Research.

The company has denied the allegations, stands behind its actions and countersued Wolfpack for defamation and other claims, according to a statement released last week.

Datavault did not respond to Technical.ly’s request for comment about the raise or the lawsuit. 

Wistar researcher wins $15M from the NIH

Luis J. Montaner, director of Wistar’s HIV Cure and viral disease center, secured two grants from the National Institutes of Health (NIH) to support HIV research. 

The $11.2 million grant to the BEAT-HIV Martin Delaney Collaboratory, which Montaner co-directs, will fund its research through 2028 to detect HIV and develop treatments. A second grant for $4.3 million will support the study of immunotherapies to treat HIV for the next five years.

“Thanks to these two grants, we continue a steady course towards a future HIV cure,” Montaner said. “I am confident we will get there as we continue reshaping medicine, adding innovative new science to the research toolkit of advances that will not only benefit HIV, but also have direct applications to other cancers and diseases.”   

Comcast and 76ers invest $170k in community tech center 

Comcast and the Philadelphia 76ers partnered with community resource organization North10 Philadelphia to open a new community center in North Philly. The orgs contributed a combined $150,000 to upgrade the space and another $20,000 for programming. 

The center now has free Wi-Fi, access to desktop and laptop computers and new audiovisual equipment. It will also host workforce development and digital skills classes.  

“This investment is not just about technology,” Josh Klaris, executive director of North10 Philadelphia, said. “It’s about creating a welcoming environment where residents can build their skills, prepare [for] careers, and access the resources they need to succeed.” 

More money moves: 

  • Pennsylvania announced $9.7 million in grants to 97 projects across the commonwealth through the second cycle of its Agricultural Innovation Grant Program. The funding allows farmers to test out new technology and for agtech startups to develop new products. 
  • Digital consultancy Bridgenext acquired Argentine-based AI software firm CloudX last month. 
  • I2n Angels, an investment group within the Ideas x Innovation Network, made its first investment in West Chester-based healthtech startup Quix Labs. 
  • Bethlehem-based biotech company Oral Biolife received over $300,000 from the NIH to develop technology that would treat peri-implantitis, a condition that impacts dental implants. 
  • Asylon Robotics, a Norristown-based robotics company, secured an investment from Bosch Ventures to continue product development. The company declined to share the amount. 
  • University of Pennsylvania’s Graduate School of Education (GSE) distributed $80,000 to four edtech startups at the Milken-Penn GSE Education Business Plan Competition.  
  • Ultrasound technology company Philips announced a $1.6 million investment to expand its manufacturing capabilities in Mifflin County. 
This story is made possible thanks to support from Ben Franklin Technology Partners of Southeastern Pennsylvania, a nonprofit that leads the Philadelphia region’s equitable economic growth by nurturing and investing in innovative, early-stage companies, and through purposeful involvement in regional and national initiatives. All stories are independently reported, with no partner review.