1
Misfit Labs announces key defense tech partnership
Misfit Labs, a Miami-based AI-native venture studio, announced a partnership to identify, build, and scale companies operating at the intersection of defense, dual-use technology, and commercial innovation.
The partnership brings together Misfit Labs, with its AI-native build capability and operator-led execution model, with Black Mountain Strategies, a Service-Disabled Veteran-Owned strategic advisory firm. BMS brings federal market access, sector expertise, and deep relationships across the defense and national security ecosystem.
“The defense and commercial technology ecosystems have been operating in parallel for too long,” said Joey Gutierrez, Co-Founder and Managing Partner of Misfit Labs. “The problems worth solving don’t respect that boundary, and neither does the way we build. Black Mountain brings the access and the credibility. We bring the execution. That combination is exactly what this market needs right now.”
The collaboration will focus on ventures across defense and dual-use AI, cybersecurity infrastructure, energy systems and resilience, communications and connectivity, health and human performance, and logistics and operational technology. The organizations will work jointly to develop an initial pipeline of ventures and will share more as specific companies take shape. Founders, operators, and domain experts working in any of the focus areas are encouraged to reach out directly.
READ MORE:
· Misfit Labs unveils its AI-native venture studio
· Special report: South Florida is becoming a mission-critical hub for defense innovation
2
Magic Leap pivots from making AR headsets
Magic Leap, a pioneer in augmented reality optics, confirmed in an announcement that it is pivoting its business model in a way that will help accelerate the development of AI display glasses. The Plantation-based company is shifting from building AR headsets to becoming an AR waveguide technology supplier, and device integration expert for the technology industry, a pivot that was widely expected in the industry.
Magic Leap, founded in 2010, says its waveguide manufacturing process delivers waveguide performance at a price point that gives it a large competitive advantage in helping the industry scale AR wearables. The growth of audio and AI glasses have overtaken AR/VR headsets, with a 44.4% jump in total XR device shipments in 2025.
“Magic Leap is seizing the moment where our AR innovation and manufacturing expertise create the greatest market impact,” said Scott Carden, SVP of display engineering and manufacturing at Magic Leap, in a statement. “We’re solving the toughest challenges of scaling waveguide production, from industry-leading waveguide performance to manufacturing and full-device integration. Now, we’re using our unmatched expertise to help partners bring AI display glasses to millions of consumers in the fastest way possible through our waveguide technology.”
3
Citadel Securities invests $400M in Crypto.com
Crypto.com announced a strategic $400 million investment from Miami-based Citadel Securities, valuing the Company at $20 billion. The milestone marks the first institutional funding round in the company’s decade-long history.
Citadel Securities’ investment comes as the industry is undergoing rapid institutionalization, with crypto increasingly serving as fundamental infrastructure for a greater part of the capital markets. Funding is expected to accelerate Crypto.com’s expansion into all asset classes, including tokenized securities and derivatives, bridging the gap between digital asset and traditional markets to create a more efficient 24/7 financial ecosystem.
“The convergence of traditional financial markets and digital asset infrastructure is an exciting evolution with the potential to further improve market efficiency,” said Citadel Securities President Jim Esposito. “Crypto.com has built a foundation to support the continued institutionalization of the digital asset market, and we are pleased to collaborate with the Crypto.com team as we help create the capital markets of the future.”
4
Ted Miller Group acquired; Miller and team join Clario
Ted Miller Group, a Miami-based tech-focused public relations agency, has been acquired by Clario Group, a New York based strategic communications and advisory firm.
Ted Miller Group and his team will be joining Clario to bring its tech industry experience and client roster, and will provide them with a strong presence in South Florida and as a gateway to Latin America, said Ted Miller, who founded the agency in 2019. Miller will be Executive Vice President, Communications and will lead Clario’s technology practice.
“Joining Clario Group represents an exciting next chapter for our team,” said Miller. “Our clients will gain access to broader strategic resources and integrated expertise while continuing to receive the personalized service, senior-level counsel, deep creativity capabilities and results-driven approach that have defined our agency over the past seven years. We’re excited to build on what we’ve created and help Clario Group continue to build a modern agency that is AI-native, client-centered and people-focused.”
Locally, Ted Miller Group has worked with Miami Tech Works and MDC, and companies Influur, DataRemote, Kaszek, Alafia, Backpack Group, StoryHunter, ProSomnia Health, SYN Ventures, Firsties, and StatLab Mobile, as well as numerous conferences and events. Miller brings 25 years of technology and PR experience to his new role, including as a founding team member of Miami-based Max Borges Agency. He also worked at Apple, Norwegian web browser company Opera Software, Club Med, and Royal Caribbean International.
5
Florida rises to the 14th largest economy in the world
Florida has climbed to the 14th-largest economy in the world, with the Sunshine State’s economy growing to $1.8 trillion — surpassing Australia and Mexico. The marks continued progress toward the Florida 2030 Blueprint’s primary target of becoming a top 10 global economy by 2030, the Florida Chamber of Commerce Foundation announced this week.
Florida’s economy grew by 6.3 percent over the past year, positioning the state to continue climbing the global rankings. Reaching the top 10 will require approximately 21 percent additional growth, with Canada currently holding the No. 10 position. “Free enterprise works,” said Mark Wilson, President & CEO of the Florida Chamber of Commerce and Florida Chamber Foundation. “Florida continues creating jobs, attracting investment, welcoming new businesses, and giving families greater opportunity to succeed.”
Florida is No. 1 in the nation for New Business Start-Ups, Manufacturing Job Growth, net income migration and black-owned businesses, among other categories, according to the Chamber.
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Cast AI releases Kimchi Coding product
Cast AI, the Kubernetes automation platform for cloud-native and AI infrastructure, recently announced the general availability of Kimchi Coding, its autonomous multi-model coding agent. Available atkimchi.dev, Kimchi exits Early Access with full production support. Developer teams and enterprises get autonomous AI coding at a fraction of the cost, while ensuring data sovereignty.
Cast AI says the future of AI coding is an orchestration layer that autonomously routes each task to the right model at the right cost, not a single frontier model. Enterprises are already moving this way; they reserve the most capable models for the hardest tasks and let open-weight models handle the bulk of the work. Kimchi’s architecture is built for that workflow.
“We built Kimchi to give every developer frontier-quality AI coding without frontier-sized bills or data risk,” said Laurent Gil, President and Co-Founder of Miami-based Cast AI. “General availability means that enterprises are now using Kimchi Coding at scale. The economics of AI coding are broken when you rely on a single commercial model. Kimchi fixes that, and does it without asking teams to compromise on quality, security, or control.”
READ MORE: Cast AI is tackling the $30 million problem sitting idle in your cloud
7
Jobs, jobs, jobs
AMPERA – Director of Security
Handtevy – Sr Software Engineer
HelloGov AI, Inc. – Software Engineer (Back-End)
Hire Avery – Founding Engineer
Lennar – Lead Product Manager – Legal Technology
Lennar – Sr Data Engineer
Payabli – CX Operations Manager
Ramp – Sr Partner Field Marketing Manager
Ramp – Solutions Consultant, Post Sales
ResQ – AI Product Designer
Smartbarrel – Technical Project Manager
Vultr – Sr Software Engineer
Workee, Inc – Account Manager
Find more jobs on Refresh Miami’s job board here.
8-PLUS
Opportunity knocks
- Are you Miami curious? Maybe you’re ready for more sunshine or tired of state income taxes. Maybe you’re just looking for your next adventure. The challenge usually isn’t the city, it’s figuring out how to make the move make sense – the right role, the right company, the right connections. If you’ve been thinking about Miami, check out moveto.miami, powered by Refresh Miami. We’re here to help.
- Applications are now open for the Alan B. Levan | NSU Broward Center of Innovation’s Incubate Program, a dedicated experience designed for entrepreneurs at the MVP stage ready for growth. This program runs from Aug. 5-28; participants meet on Mondays, Wednesday, and Fridays from 8:30 AM – 11:00 AM at the Levan Center. Apply by July 22 here.
- Calling all Florida-based startups: GatorPitch Miami has always been an opportunity for University of Florida-affiliated startups to get in front of South Florida’s vibrant investor and entrepreneurial ecosystem. For this year’s event on Nov. 5, UF Innovate is opening the opportunity to pitch to Florida-affiliated companies. Find out more here and apply here by Sept. 4.
- Applications are open for the inaugural West Palm Entrepreneurship and Adversity Program (WPEAP), a 10-month initiative designed to support individuals facing economic hardship while launching or growing a business. The program, managed by the Jim Moran College of Entrepreneurship at Florida State University and the Jim Moran Institute for Global Entrepreneurship, cost is $500, but scholarships of $475 are available. Learn more ere hand apply by Aug. 1.
ICYMI – Catch up!
It’s been a big #MiamiTech news week: Five venture rounds totaling $218 million were announced – and that’s not all! We also had a relocation announcement and more:
- Recent startup fundraises: Flex lands another $70M as it bets the future of banking belongs to business owners, not businesses
- The startup betting policy will become the next Bloomberg Terminal just raised $70M
- Cyclops raises $20M to build the missing link in stablecoin payments
- Kind Designs just raised a star-studded $10 million round to change how America builds seawalls
- Miami-based RapidPulse secures $48M Series B co-led by Medtronic to transform stroke treatment
- Latest VC news: Miami area startups attracted $832M in VC in Q2, PitchBook reports. We’ve got the top deals.
- Latest special report: Meet the fractional executives behind some of Miami’s fastest-growing startups
- Relocation news: Bizcap, a global fintech and SMB funder, launches U.S. HQ in the Miami area; more hiring planned
- Accelerator news: Ambition Accelerated applications now open to help startups scale in fintech, healthtech, defense and resilience
- In the spotlight: Nasdaq’s IPO whisperer is betting his next chapter on fixing institutional payments
- And more paywall-free #MiamiTech news here!
Have news to report? Email Nancy Dahlberg at nancy@refreshmiami.com and follow her on X @ndahlberg and on LinkedIn. Subscribe to Refresh Miami’s free weekly newsletter here featuring startup news, tech job opportunities and event
- 8+ things to know in #MiamiTech: News from Misfit Labs, Magic Leap, Citadel Securities, Ted Miller Group, Cast AI, open jobs & catch up on what you missed! – July 17, 2026
- Bizcap, a global fintech and SMB funder, launches U.S. HQ in the Miami area; more hiring planned – July 17, 2026
- Miami-based RapidPulse secures $48M Series B co-led by Medtronic to transform stroke treatment – July 16, 2026
