Manufacturer's enterprise value $2.1 billion... Paradigm also invests in nuclear power

Paradigm co-led a $1.5 billion funding round for drone delivery firm Zipline alongside WCM Investment Management and Layer Global, valuing the company at $21.5 billion post-money—roughly 2.8x the $7.6 billion valuation from its January round. The crypto-focused investor's capital is increasingly flowing beyond digital assets into manufacturing, space and defense, and nuclear energy companies. The deal marks one of the largest private raises this year and signals that crypto-native venture firms are diversifying into hard-tech and infrastructure bets. Watch for whether Paradigm's non-crypto allocations grow as a share of its portfolio and whether Zipline's expanded valuation holds in future rounds.