This is a weekly feature that runs down the week鈥檚 top 10 announced funding rounds in the U.S. Check out last week鈥檚 biggest funding deal roundup here.

Startup investors were busily closing on big rounds this week, with AI and defense among their favored target sectors. The biggest financing went to , a defense tech startup developing a hypersonic missile. Other sizable rounds went to companies developing AI inference technology, a video-creation platform, data centers and voice-to-text tools.

1. , $800M, defense tech: Castelion, a defense tech startup developing a hypersonic strike missile, raised new Series C funding consisting of $800 million in equity capital along with $250 million in debt financing. , and led the equity financing, which set a $13 billion valuation for the Torrance, California-based company.

2. , $700M, semiconductors: San Jose, California-based Etched, a developer of inference clusters to accelerate AI computing, secured $700 million in a new funding round led by and joined by a long list of prominent investors. The financing set a $21 billion valuation for the 4-year-old company.

3. , $400M, AI video tools: AI video- and image-creation platform Higgsfield closed on $400 million in Series B financing at a $5.4 billion valuation. led the round for the San Francisco-based company, with the financing drawing at least 18 investors.

4. , $350M, data centers: Groq, an operator of 13 data centers across the globe, pulled in $350 million in a new fundraise led by , with planned participation from .The fundraise, which values the San Francisco-based company at $3.5 billion, comes on the heels of a $650 million in June.

5. , $280M, voice-to-text AI: Wispr Flow, a provider of an AI-powered voice-to-text tool called Flow, picked up $280 million in Series B funding at a $2 billion valuation. led the financing, joined by a long list of new and existing investors.

6. , $250M, satellites: Muon Space, a designer, builder and operator of satellite constellations, closed on $250 million in Series C funding led by . The Mountain View, California-based company also recently opened a manufacturing facility in San Jose, California, designed to produce up to 500 satellites annually by 2027.

7. , $150M, micromobility:聽 Also, a spinout that makes electric bikes and small four-wheeled micromobility vehicles, secured $150 million in Series D funding led by . The Palo Alto, California-based startup said the financing will go in part toward accelerating development of its autonomous vehicle platform.

8. , $110M, AI computing: Velaura AI, a developer of AI compute infrastructure focused on ultra-low-power silicon and software technologies, picked up $110 million in Series A funding. led the financing, which set a valuation of over $1 billion for the Silicon Valley-based startup.

9. , $100M, agentic finance: Rillet, a developer of AI-powered enterprise resource planning tools, landed $100 million in Series C funding led by . The round, which sets a $1 billion valuation for the San Francisco company, is Rillet鈥檚 third financing in the past year.

10. , $75M, sleep testing: Happy Health, and Austin-based developer of a ring device for diagnosis and treatment of sleep apnea, raised $75 million from and .

Methodology

We tracked the largest announced rounds in the 萝莉视频 database that were raised by U.S.-based companies for the period of Aug. 15-21. Although most announced rounds are in the database, there may be a small time lag, as some rounds are reported late in the week.

Illustration:

This is a weekly feature that runs down the week鈥檚 top 10 announced funding rounds in the U.S. Check out last week鈥檚 biggest funding deal roundup here.

is back raising another $5 billion, after it raised that amount eight months ago. The largest fundings also went to an AI neolab, data center and electricity storage, defense, coding and biotech. Let鈥檚 take a look.

1. , $5B, data platform: Databricks has surpassed a $7 billion revenue run rate, with more than 80% year-over-year growth in Q2. The San Francisco-based company raised $ 5 billion in a funding round led by with participation from , , and new investor . Databricks was valued at $134 billion back in December 2025 when the company announced it had surpassed a $4.8 billion revenue run rate. From its Series A funding of $13 million in 2013, the 13-year-old company has raised around $25 billion in funding over all time, per 萝莉视频 data.

2. , $1.1B, AI reinforcement learning: Founded earlier this year, River AI raised $1.1 billion across its seed and Series A rounds led by and , with strategic investment from and . Its founder, , has been at the center of AI developments at , and over the past decade. The Palo Alto, California-based company seeks to build AI that is personalized and trained directly on what a company or person needs to accomplish, giving the end user control.

3. , $750M, electric grid: Form Energy raised a Series G funding round led by . The Massachusetts-based company builds longer-lasting 100-hour batteries for grid electricity storage. A host of investors participated, including private equity, venture and angels, and infrastructure and climate-focused investors , , , , , , and the .

4. , $250M, defense: Neros Technologies, a defense drone manufacturer and drone interceptor, raised a $250 million Series C led by and . The Los Angeles-based company, founded in 2023, has raised $370 million to date, per . The company announced that by 2028 it will be building 1 million drones per year. It has contracts with the U.S. military and half a dozen allied countries across Europe, Asia and the Middle East.

5. , $143M, AI code review: CodeRabbit, which has developed an open-source AI code review technology used by 150,000 open-source projects and 17,000 customers, according to the company, is on a roll. London-based and Los Angeles鈥� led its Series C, and the Walnut Creek, California-based company plans to set up a London office based on customer interest across Europe. As coding becomes increasingly automated, code review is critical to determine which projects meet production standards.

6. , $136M, datacenter networking: Point2 Technology, which builds interconnect solutions for AI data centers, raised an extension of its Series B led by Korea-based , including a strategic investment from and participation from existing investor . The San Jose, California-based company raised $136 million in the Series B.

7. , $110M, organ preservation: Bridge to Life, a 21-year-old organ preservation company, raised a $100 million Series C funding led by and . The Illinois-based company is developing an organ viability assessment tool to expand the market and will use the proceeds to extend its VitaSmart technology to U.S. transplant centers.

8. (tied) , $100M, protein therapeutics: Aureka Biotechnologies, an AI-native drug discovery platform, raised $100 million in Series B funding led by . Based in Shanghai and California, the 3-year-old company has raised $200 million to date. Proceeds will go toward training its model with its lab-in-the-loop feedback mechanism.

8. (tied) , $100M, loyalty rewards: PointsKash, a loyalty reward mobile app, raised private equity funding led by . The Florida-based company provides in-store kiosks for cash, loans and rewards.

10. , $90M, biotechnology: Epicrispr Biotechnologies, a developer of genetic medicines, raised a $90 million Series C led by and . The San Francisco-based company develops treatments for neuromuscular disease through modulating genes.

Large non-US deals:

Several startups based outside the U.S. also raised notable rounds this week. They include:

, $400M, automated applications: Lovable raised a $400 million Series C funding led by and , valuing the company at $13.3 billion. The Stockholm-based company claims 900 million visits each month and 60 million projects created. Lovable鈥檚 Series B raise in December 2025, co-led by Menlo Ventures, valued the company at $6.6 billion.

, $300M, defense: Cambridge Aerospace, a U.K. defense tech company, raised a $300 million Series C led by . The 2-year-old company raised a $200 million Series B in April led by and . Since its Series B funding, the has committed to purchasing its Skyhammer air defense system to intercept drones and low-speed missiles.

Methodology

We tracked the largest announced rounds in the 萝莉视频 database that were raised by U.S.-based companies for the period of Aug. 8-14. Although most announced rounds are in the database, there may be a small time lag, as some rounds are reported late in the week.

Illustration:

Leading sectors by count were financial services, robotics, AI orchestration, multimodal AI, energy and the semiconductor industry.

In the past two months, the board added more than $100 billion each month in value from newly minted unicorns. Three companies joined the board at decacorn values. , and together added $49 billion in the past month.

The U.S. counts 19 new unicorn companies, just under half of the newly minted unicorns in July. China, the second-largest country, numbered eight. From the U.K., there were three companies, and from Singapore, two. Lithuania, Germany, Spain, Hungary, Australia, India, Israel and Hong Kong each count one.

Among the newly minted unicorns, 15 were less than 3 years old. And seven companies were more than 10 years old.

So far this year, the count of new unicorns has accelerated. A total of 195 companies joined in H1 this year, already exceeding the total for all of 2025.

New unicorns in July

Here are July’s new unicorn companies:

Financial services

• Singapore-based , an affiliate of the private payments company , raised a $1.2 billion Series A funding round with participation from Ant Group and . Ant International was spun out in 2024 and was valued at $11.2 billion in this recent funding.
• , a digital banking platform for banks and credit unions, raised $115 million in private equity funding led by . The 9-year-old San Ramon, California-based company that supports customer retention and services was valued at $1.6 billion.
• Budapest-based , an auto insurance provider using AI, raised a $23 million Series B funding round led by . The almost 2-year-old company, founded by a Serbian team, was valued at $1.6 billion.聽 Ominimo reports $350 million in gross written premiums and is approaching 1 million customers. It operates in Hungary, Poland, the Netherlands and Sweden, and plans to expand across Europe and to the U.S. in 2027.
• , an AI-native private bank for high net worth business owners, raised a $70 million Series B led by . The 4-year-old San Francisco-based company was valued at $1.2 billion.
• , a membership and savings app for U.S. consumers, raised $65 million in Series D funding led by . The 10-year-old San Francisco-based company was valued at $1.2 billion. Surpassing $200 million in net revenue in 2025 from membership and transactional revenue, the company says it is growing 50% year over year and is approaching 1 million members.
• London-based , a savings app which has become a digital wealth management platform, raised a $60 million secondary market transaction led by . The 11-year-old company was valued at $1.1 billion. The secondary sale is to provide liquidity for long-term employees. The company is profitable and has helped 200,000 people buy their first home.

Robotics

• Guangdong-based humanoid robotics company raised $200 million in pre-IPO funding. The 4-year-old company is focused on entertainment, hospitality, and service for humanoid robotics, not manufacturing, with half of its orders coming from outside of China. The company was valued at $2.2 billion.
• Shenzhen-based , a builder of precision tactile sensing technology for robotics, raised $148 million in Series E funding. The 10-year-old company was valued at $1.5 billion.
• London-based , a humanoid robotics company for manufacturing, retail and logistics, raised a $152 million Series A funding led by . The 2-year-old company was valued at $1.4 billion and plans to roll out its wheeled beta version robots to customers in Q4. It has also developed a software brain, KinetIQ, to reason and execute complex tasks alongside humans.
• Full-stack physical AI company emerged from stealth with a $300 million seed funding led by and . The less-than-1-year-old Cambridge, Massachusetts-based company focused on manufacturing and logistics was valued at $1.1 billion.
• , an embodied intelligence company, raised a $147 million seed funding round led by and . The less than 1-year-old Nanjing, China-based company is focused on closed-loop learning, building robotics for manufacturing with the ultimate goal of building a general-purpose robot for the home. The company was valued at $1 billion.
• Dexterous hand robotics company raised a $74 million Series A funding led by . The 1-year-old Hangzhou, China-based company was valued at $1 billion.

AI

• Lithuania-based , a public data web scraping service useful for AI applications and agentic AI, raised its first external financing, a $130 million Series A led by . The company reports $350 million in ARR serving 350,000 tech teams. The 11-year-old company was valued at $3.6 billion.
• Spain-based , a compression technology for AI that improves efficiency and cost, whether on device or in the cloud. It raised a $570 million Series C led by , and . The 7-year-old company was valued at $2.3 billion.
• , creator of synthetic users for consumer research, raised a $200 million Series B led by and . The company raised a $100 million Series A five months earlier. The 1-year-old Palo Alto-based company was valued at $2 billion.
• runs a full-stack platform for companies to train models and agents. It raised a $130 million Series A funding led by . The 2-year-old San Francisco-based company was valued at $1 billion.
• , an enterprise infrastructure management platform for AI, raised a $100 million Series D led by . The 7-year-old San Jose, California-based company was valued at $1 billion.

Multimodal AI

• Beijing-based , a text prompt-to-AI short video startup, raised a $2.8 billion funding round led by , , , , and . The 2-year-old company, a subsidiary of with plans to spin out, was valued at $18 billion.
• , a company that creates 3D visualization from text or image prompts, raised a $400 million Series B funding led by , and . The 5-year-old Sunnyvale, California-based company, used in gaming, 3D printing and design, was valued at $1.5 billion.
• , which provides access to leading models for text, video, image and audio while retaining user privacy, raised a $65 million Series A led by . The service stores communication on a user鈥檚 device. The 2-year-old Wyoming-based company was valued at $1 billion.
• Beijing-based , a multimodal model developer, raised a $222 million Series C led by ,, and . The 3-year-old company, used for film, marketing, and social media content creation, was valued at $1 billion.

Energy

• Munich-based nuclear fusion company raised a $470 million Series B led by , , and . The company has offices in Munich, Zurich and Oxford. The 3-year-old company was valued at $2.7 billion.
• a provider of thermal energy storage for data centers, raised a $550 million Series C funding led by and. The 8-year-old San Jose, California-based company was valued at $2.5 billion.
• , a hydrogen-boron fusion company, raised an undisclosed seed round led by , and . The less-than-8-year-old China-based subsidiary of the was valued at $1.6 billion.

Semiconductor

• Israel-based , a fabless semiconductor company building data processing units and chips for data centers and computing systems, raised a $300 million Series E led by . The 9-year-old company was valued at $2.8 billion. The next generation of will be routing via the company鈥檚 X2 chip, according to VP of Starlink engineering, .
• Shanghai-based developer of a satellite communication baseband chip for 6G communications, raised an undisclosed amount following a $216 million Series C round earlier this year. The 6-year-old company was valued at around $1.5 billion.
• , a chip company that connects smaller chips to make them more efficient, raised a $145 million Series C led by . The 5-year-old Santa Clara, California-based company was valued at $1 billion.

Cryptocurrency

• Singapore-based , a regulated app for buying, trading, and spending cryptocurrencies, raised a $400 million corporate round. Led by , this marks the company鈥檚 first institutional funding. The 10-year-old company was valued at $20 billion.
• , a U.S. stablecoin digital clearing bank for international financial institutions, raised a $180 million Series B led by . The 4-year-old San Francisco-based company was valued at $1 billion.

Defense

• Former Doge employees founded to provide AI-driven cyber capabilities to the U.S. military. Cathedral raised a $160 million Series A led by and . The less-than-1-year-old Washington, D.C.-based company was valued at $1.4 billion.
• London-based , a maritime defense company, raised a $175 million Series B led by . The 6-year-old company was valued at $1 billion.

Marketplace

• , a technology platform for service businesses, raised a $44 million Series D led by . The 10-year-old New York-based company was valued at $1.2 billion. Genius AI operates in the wellness, beauty and health sectors and is approaching a $200 million revenue run rate.

• , a platform for travel advisers, raised a $60 million Series D led by and . The service has 15,000 travel advisers and has booked more than $3 billion in travel over time. The 5-year-old New York-based company was valued at $1 billion.

Data center

• Mumbai-based , a data center service hosting GPUs, one of the largest GPU compute providers in India, raised $150 million in funding. The 7-year-old subsidiary of the was valued at $3.9 billion.

Insurance

• , an insurance platform for some of the largest e-commerce customers, raised $100 million in funding. The 12-year-old New York-based company was valued at $1.9 billion. Its customers include , , , , and , to name a few.

Quantum

• Quantum computing company raised a $300 million Series A led by , and . The less than 1-year-old South Pasadena, California-based company was valued at $1.5 billion.

AI coding

• Autonomous app building startup raised a $130 million Series C led by , and . The 2-year-old Pleasanton, California-based company was valued at $1.5 billion. The company launched a year ago and has enabled non-coders to build applications, with 12 million built on the platform.

Legal

• , an AI legaltech firm that pairs lawyers with agentic AI, raised a $120 million Series C led by . The service is client-oriented, with payments based on outcomes rather than billable hours. The 3-year-old New York-based company was valued at $1.2 billion.

Security

• , an endpoint security firm for the AI era, emerged from stealth, announcing a $100 million Series B led by , , and . In 2025, ahead of launching out of stealth, Glow raised large seed and Series A rounds. The 1-year-old Palo Alto, California-based firm with offices in Tel Aviv was valued at $1.2 billion.

Wearables

• Hong Kong-based smart glass company raised a $150 million Series B led by and . Founded by ex- engineers, the startup is not camera-based but rather a display that beams information visible to the wearer.聽 The 2-year-old company was valued at $1 billion.

Related 萝莉视频 unicorn lists:

• (1,850)
• (644)
• (245)
• (193)
• (117)
• (102)
• (953)
• (546)
• (251)
• (39)
• (491)

Related reading:

• Global New Unicorn Counts In The First Half Of 2026 Have Already Surpassed 2025鈥檚 Totals

Methodology

The 萝莉视频 萝莉视频 is a curated list that includes private unicorn companies with post-money valuations of $1 billion or more and is based on 萝莉视频 data. New companies are as they reach the $1 billion valuation mark as part of a funding round.

The unicorn board does not reflect internal company valuations 鈥� such as those set via a 409a process for employee stock options 鈥� as these differ from, and are more likely to be lower than, a priced funding round. We also do not adjust valuations based on investor writedowns, which change quarterly, as different investors will not value the same company consistently within the same quarter.

Funding to unicorn companies includes all private financings to companies that are tagged as unicorns, as well as those that have since graduated to .

Exits analyzed here only include the first time a company exits.

Please note that all funding values are given in U.S. dollars unless otherwise noted. 萝莉视频 converts foreign currencies to U.S. dollars at the prevailing spot rate from the date funding rounds, acquisitions, IPOs and other financial events are reported. Even if those events were added to 萝莉视频 long after the event was announced, foreign currency transactions are converted at the historic spot price.

Illustration:

In this bifurcated funding environment, we also see a wide range in valuations, as well as select companies that raised multiple rounds at a significant valuation increase in the space of months.

Among this cohort, robotics and AI neolabs were the leading sectors for new unicorns. Other industries that stand out were in financial services, healthcare and biotech as well as AI infrastructure, AI deployment and devtools, defense, semiconductor and aerospace.

H1 new unicorns have added roughly $440 billion in value to the board 鈥� 5% of the board’s current value. These companies have raised $80 billion over time, representing 5% of funding raised by still-private, unicorn-valued companies.

The most valuable new unicorn this year is China-based open-source model developer , which was valued at $50 billion in its first external financing. Seychelles-based crypto exchange , valued at $25 billion, is the second most valuable company to join in the first half of this year.

San Francisco-based , majority owned by and valued at $14 billion when it raised $4 billion from private equity, is in the third spot.

From this cohort, four companies were valued as decacorns in H1, and a further five were valued above $5 billion, as of early August 2026.

Based on trends for 2025 companies, we expect valuations for this cohort to climb significantly in the next year. For the 193 new unicorns that joined in 2025, 12 were decacorns and another 18 were valued above $5 billion. Nine of those decacorns for this cohort became $10 billion-plus-valued companies in 2026.

US leads, China picks up

The U.S. leads with 110 companies 鈥� 56% of new unicorns in H1. China was in second place with 38 companies, a significant surge from 10 new unicorns in 2025. The U.K. was the third-largest market with 13 companies joining.

By continent, North America accounts for 115 new unicorns, Asia with 50 and Europe with 27. Latin America, Oceania and Africa each count for one.

Fast raises

In the current frenzied funding environment, 19 of H1鈥檚 new unicorns raised fast follow-on rounds, often in six months or less, and doubled on an earlier valuation to reach at least $2 billion or more.

Notable among the fast fundraisers are semiconductor startup , which doubled its prior valuation to $10 billion from $5 billion just six months earlier; defense tech unicorn , whose valuation vaulted to $7.9 billion, up from its prior $1.6 billion valuation seven months earlier; and , building nuclear energy reactors for AI, was valued at $6 billion, up from $2 billion four months earlier.

AI momentum

Trillions in value were added to The 萝莉视频 萝莉视频 in the first half of the year, including from some of the largest-ever venture funding deals. The first six months of 2026 also notched the largest venture-backed exit of all time: 鈥檚 IPO.

Taken together with the rapid follow-on raises at ever-larger valuations some of those companies have achieved, it鈥檚 clear that the momentum around the fastest-growing companies has picked up significantly in this AI cycle.

Related 萝莉视频 unicorn lists:

• (195)
• (1,839)
• (643)
• (232)
• (192)
• (117)
• (102)
• (947)
• (542)
• (250)
• (39)
• (489)

Related reading:

• A Record 14 Billion-Dollar Rounds In July Pushed Venture’s Historic Run Higher
• Led By DeepSeek, 10 Frontier Labs Rush Onto The 萝莉视频 萝莉视频 In June
• 萝莉视频 Data: Global Startup Investment Hit Record $510B In H1 2026 As AI Boom Accelerates Funding And Exits

Methodology

The 萝莉视频 萝莉视频 is a curated list that includes private unicorn companies with post-money valuations of $1 billion or more and is based on 萝莉视频 data. New companies are as they reach the $1 billion valuation mark as part of a funding round.

The unicorn board does not reflect internal company valuations 鈥� such as those set via a 409a process for employee stock options 鈥� as these differ from, and are more likely to be lower than, a priced funding round. We also do not adjust valuations based on investor writedowns, which change quarterly, as different investors will not value the same company consistently within the same quarter.

Funding to unicorn companies includes all private financings to companies that are tagged as unicorns, as well as those that have since graduated to .

Exits analyzed here only include the first time a company exits.

Please note that all funding values are given in U.S. dollars unless otherwise noted. 萝莉视频 converts foreign currencies to U.S. dollars at the prevailing spot rate from the date funding rounds, acquisitions, IPOs and other financial events are reported. Even if those events were added to 萝莉视频 long after the event was announced, foreign currency transactions are converted at the historic spot price.

Illustration:

July ranked as the third-largest funding month of the year, up 10% over June, following on the heels of a record-breaking first half of 2026, when startups raised $515 billion globally.

Fourteen startups raised billion-dollar rounds in July, the highest count in a single month, though not the largest amount raised in such deals, an analysis of 萝莉视频 data shows. The tally includes nine U.S.-based companies, two each from Germany and China, and one company headquartered in Singapore.

The largest startup funding deal last month was a $10 billion investment in , the first external financing for the -founded space exploration company.

, a frontier lab founded by former Chief Scientist , reportedly raised $5 billion from . The next two largest deals were Beijing-based frontier lab 鈥檚 $3.5 billion raise after releasing its latest Kimi K3 model, and raising $2.8 billion for short-video generation.

Two Germany-based companies in defense tech also raised billion-dollar rounds: and . In the U.S., companies that raised billion-dollar-plus rounds spanned the energy, industrial robotics, AI training, security and semiconductor industries.

Funding to AI

A total of $35 billion, or around 53% of global venture funding, went to AI-focused companies in聽 July. Other leading sectors were aerospace, defense and energy.

U.S.-based companies raised a total of $39 billion, or around 59% of global venture capital, last month with roughly half of the capital invested in its AI-focused companies.

Exits

July was also a robust month for startup exits, including via acquisition and public-market debuts.

Venture-backed M&A totaled more than $9 billion in July, with five companies exiting at prices聽 over $1 billion, 萝莉视频 data shows. Notable acquisitions included London-based data center provider 鈥檚 roughly $1.65 billion acquisition of software layer , which was built to manage AI workflows, and in the security sector, AI-native security company 鈥檚 $1 billion acquisition of , a service to manage non-human identities.

Twelve venture-backed companies went public above $1 billion in value in July, including five from China, six U.S.-based companies, and one from Italy. The largest was Chinese chipmaker , which went public at around $85 billion and . Italy-based , an acquirer of software companies including and , went public at a value of $18.5 billion. And last-mile transportation company , founded in 2017, went public at $1.6 billion in value, raising $167 million in the process.

In closing

If the first half of 2026 established that venture has entered a new era of mega-financings, July reinforced that the trend is broadening rather than fading. Record numbers of billion-dollar rounds in both hardware and software, alongside a healthy IPO and M&A market, point to an ecosystem where capital is not only concentrating in category leaders but is also beginning to recycle through exits.

Related 萝莉视频 queries:

Methodology

The data contained in this report comes directly from 萝莉视频, and is based on reported data. Data is as of Aug. 3, 2026.

Note that data lags are most pronounced at the earliest stages of venture activity, with seed funding amounts increasing significantly after the end of a quarter/year.

Please note that all funding values are given in U.S. dollars unless otherwise noted. 萝莉视频 converts foreign currencies to U.S. dollars at the prevailing spot rate from the date funding rounds, acquisitions, IPOs and other financial events are reported. Even if those events were added to 萝莉视频 long after the event was announced, foreign currency transactions are converted at the historic spot price.

Glossary of funding terms

Seed and angel consists of seed, pre-seed and angel rounds. 萝莉视频 also includes venture rounds of unknown series, equity crowdfunding and convertible notes at $3 million (USD or as-converted USD equivalent) or less.

Early-stage consists of Series A and Series B rounds, as well as other round types. 萝莉视频 includes venture rounds of unknown series, corporate venture and other rounds above $3 million, and those less than or equal to $15 million.

Late-stage consists of Series C, Series D, Series E and later-lettered venture rounds following the 鈥淪eries [Letter]鈥� naming convention. Also included are venture rounds of unknown series, corporate venture and other rounds above $15 million. Corporate rounds are only included if a company has raised an equity funding at seed through a venture series funding round.

Technology growth is a private-equity round raised by a company that has previously raised a 鈥渧enture鈥� round. (So basically, any round from the previously defined stages.)

Illustration:

This is a weekly feature that runs down the week鈥檚 top 10 announced funding rounds in the U.S. Check out last week鈥檚 biggest funding deal roundup here.

Startup investors poured capital into a varied lineup of large rounds this week, targeting sectors including physical AI, biotech, cybersecurity, AI infrastructure and fintech. By far the largest financing of the week was a $1.7 billion round for founder 鈥檚 physical AI startup, , followed by sizable investments for 3D AI model developer and battery technology company .

1. , $1.7B, physical AI: Atoms, the physical AI startup founded by founder , raised $1.7 billion in a funding round led by . Kalanick touted the Los Angeles-based company鈥檚 vision as 鈥渁bout the coming industrial revolution where large industrial economic sectors get completely digitized.鈥�

2. , $400M, AI for 3D: Silicon Valley-based Meshy AI, a startup developing foundation models for AI-powered 3D generation, closed on $400 million in Series B funding at a $1.5 billion valuation. Lead backers include , and , per 萝莉视频 data.

3. , $300M, battery technology: Battery technology company Sila secured $300 million in a new round led by and . The Alameda, California, company will use the funding to expand its silicon anode plant in Moses Lake, Washington.

4. , $300M, inference technology: Etched, a co-designer of chips, racks, software and manufacturing methods for use in frontier models, picked up $300 million in Series C funding. led the round, which set a $10 billion pre-money valuation for the San Jose, California-based company.

5. , $180M, fintech: Augustus, a startup aimed at providing financial institutions around the world direct access to dollar accounts, secured $180 million in Series B funding. led the round, which set a $1 billion valuation for the San Francisco-based company.

6. , $160M, defense tech: Cathedral, a startup aimed at expanding U.S. military cyber capabilities, reportedly $160 million with backing from Sequoia Capital and Andreessen Horowitz. The Washington, D.C.-based startup was reportedly founded by a 鈥媡eam of former DOGE employees.

7. , $130M, biotech: Crystalys Therapeutics, a biotech developing therapies for people living with gout, closed an oversubscribed $130 million Series B round. led the financing for the San Diego-based company.

8. , $120M, healthcare software: San Francisco-based Candid Health, developer of a revenue cycle management platform for the healthcare industry, landed $120 million in Series D funding led by .

9. , $100M, cybersecurity: Glow, a Palo Alto, California-based AI-powered endpoint security startup, launched from stealth and announced it has raised $180 million to date, of which, per 萝莉视频, $100 million comes from its newest financing. Lead backers include Sequoia Capital, , , and .

10. , $75M, cybersecurity: Boston-based Neo Security, a startup working on an agentic software control platform for enterprises, picked up $100 million in a new round led by and Andreessen Horowitz.

Methodology

We tracked the largest announced rounds in the 萝莉视频 database that were raised by U.S.-based companies for the period of July 18-24. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

Illustration:

Ten of those companies were AI labs, collectively valued at $65 billion. The most well-known was Beijing-based open source model developer 鈥� at $50 billion, the highest valued new unicorn to join the 萝莉视频 this year.

The new unicorn frontier labs are focused on new architectures in AI model development in robotics, physics and self-learning, as well as on open source development, and in the case of one India-based startup, sovereign AI.

Other leading sectors with multiple companies were in robotics and AI infrastructure, with four companies in each.

Of the new unicorns, 16 are U.S-based, while eight are from China. Two new unicorns joined the board from India, Germany and the United Kingdom and one each from Netherlands, Belgium, Canada and Saudi Arabia.

Big exits remove a trillion

Despite the influx of newcomers, the total value of The 萝莉视频 萝莉视频 dropped by more than $1 trillion in June as , its most valuable company, went public.

Other notable exits from the board last month were , the maker of AI coding tool Cursor, which was acquired by SpaceX for $60 billion after last being valued at $29.3 billion. , an AI infrastructure company that operates as a layer on top of GPUs, was acquired by , and customer experience agent was purchased by 1, both for well above their last private valuations.

New unicorns in June

Here are June’s new unicorn companies:

AI labs

• Hangzhou-based raised a $7.4 billion Series A, its first external financing, in a deal led by CEO . The 2-year-old company was valued at $50 billion and is said to be planning to list in as early as Q2 2027.
• is building a new AI architecture based on neuroscience called Cortex AI that promises lower power use. It raised a $500 million Series A from , , and . The less than 1-year-old New York-based company was valued at $2.5 billion.
• London-based , an AI for physical product design in aerospace, defense, energy, automotive and semiconductors, raised a $300 million Series C led by . The 6-year-old company was valued at $2.4 billion.
• , a model developer for robotics trained on gaming videos from its sister company , raised a $320 million Series A led by . The 1-year-old New York-based company was valued at $2.3 billion.
• , an embodied robotics intelligence company, raised a $400 million Series B led by . The 2-year-old San Mateo, California-based company with researchers from and was valued at $2 billion.
• Shanghai-based , a聽 robotics intelligence company, raised a $220 million seed round led by and . The less than 1-year-old company founded by an researcher was valued at $2 billion.
• , a builder of world models to simulate the real world impacting robotics, science, healthcare and defense, raised a $310 million Series B led by . The 2-year-old Menlo Park, California-based company was valued at $1.5 billion.
• Bengaluru-based , an Indian sovereign AI developer, raised a $234 million Series B first close led by . The 3-year-old company was valued at $1.5 billion.
• , an AI lab seeking to automate AI research for scientific use cases, raised a $200 million seed funding led by and . The less than 1-year-old San Francisco-based company was valued at $1 billion.
• Hangzhou-based , a 3D model developer used in gaming, entertainment and product design, raised a $200 million Series A led by . The 3-year-old company was valued at $1 billion.

Robotics

• Germany-based , a physical AI company building intelligent machines to to work alongside humans, raised a $1.4 billion Series C led by stablecoin issuer among other strategic and growth investors. The 7-year-old company, with $1 billion in its order pipeline and strategic deployments, was said to be valued at $7 billion.
• Shenzhen-based , a builder of humanoid robots, raised a $148 million Series B led by . The 3-year-old company was valued at $1.5 billion.
• Guangdong-based , a humanoid robotics company, raised a $147 million Series B. The 5-year-old company, which projects 1,000 shipments in 2026, was valued at $1.5 billion.
• , a builder of industrial arm robotics for manufacturing that said its technology learns through demonstration, raised a $200 million Series C led by and . The 9-year-old New York-based company was valued at $1 billion.

AI infrastructure

• , which pivoted from crypto mining to data center build out for AI, raised a $400 million funding led by , and . The 2-year-old Coral Gables, Florida-based company was valued at $2.4 billion. The company has filed for a direct listing on .
• Las Vegas-based , a cloud operator that offers customer AMD chips, raised a $350 million Series B led by and . The 2-year-old company was valued at $1.6 billion.
• Beijing-based , an inference solution offering customers API access to hundreds of models, raised a $296 million Series B. The 2-year-old company was valued at $1.2 billion.
• , an AI developer cloud to train, fine-tune and deploy AI, raised a $100 million Series A led by . The 4-year-old New Jersey-based company valued at $1 billion has 1 million developers using the platform.

Defense

• , a precision weapons company enabling existing weaponry to defend against unmanned drones, raised a $200 million Series B led by . The 4-year-old Austin-based company was valued at $2.2 billion.
• , a manufacturer of unmanned aerospace and defense systems, raised a $300 million Series C led by and . The 3-year-old Huntington Beach, California-based company was valued at $1.8 billion.
• , a cyber intelligence company building products for the U.S. military, raised a $100 million Series B led by , and . The 1-year-old Arlington, Virginia-based company was valued at $1 billion.

Proptech

• Montreal-based , a mortgage financing platform, raised a $217 million Series E round. The 8-year-old company was valued at $1.1 billion.
• India-based ,聽 a property brokerage that also owns a mortgage marketplace, a property management platform, and a home interior brand raised a $95 million private equity and debt financing led by . The 13-year-old company was valued at $1 billion.

Data analytics

• Belgium-based , an intelligence platform for global physical trade, raised a $1 billion secondary market funding led by . The 12-year-old company was valued at $3.7 billion.

Biotechnology

• , a biotech company focused on reverse cellular aging, raised a $435 million Series C led by . The 4-year-old San Francisco-based company with plans for clinical trials next year for human liver cells, was valued at $3.1 billion.

Materials

• Cambridge, U.K.-based聽 , building a network of labs using AI for new material discovery, raised a $450 million funding led by and . The 2-year-old company was valued at $2.6 billion.

Cryptocurrency

• , a blockchain and smart contract solution for global financial institutions, raised a $355 million Series F led by . The 12-year-old New York-based company was valued at $2 billion.

Image generation

• Beijing-based , a video generation company, raised a $300 million Series B led by , and . The 3-year-old company was valued at $2 billion and says it has built a creator community of more than 30 million users. As of May 2026 the company has $300 million in annual recurring revenue.

Financial services

• Saudi Arabia-based , a mobile banking company, raised a $400 million Series A. The 6-year-old company was valued at $1.6 billion.

Semiconductor

• Rotterdam-based , a 3D metrology inspection tool for semiconductor manufacturing, raised a $380 million Series D led by . The 10-year-old company was valued at $1.6 billion.

Aerospace

• Beijing-based , a space infrastructure and satellite company, raised a $207 million Series D. The 10-year-old company was valued at $1.5 billion.

E-commerce

• , an e-commerce provider that supports customer interactions post purchase, raised an $81 million Series B led by . The 4-year-old Utah-based company supporting 4,100 brands and 1,750 merchants was valued at $1.3 billion.

AI healthcare

• , an AI agent built for a patient’s healthcare journey and used by healthcare providers, raised a $120 million Series C led by . The 3-year-old San Francisco-based company was valued at $1.2 billion.

Transportation

• Munich-based , a car subscription platform operating in Germany and partnering with 25 brands, raised a $113 million Series D led by . The 7-year-old company was valued at $1.1 billion.

Related 萝莉视频 unicorn lists:

• (1,822)
• (637)
• (213)
• (190)
• (118)
• (102)
• (935)
• (539)
• (248)
• (39)
• (488)

Related reading:

• 萝莉视频 Data: Global Startup Investment Hit Record $510B In H1 2026 As AI Boom Accelerates Funding And Exits
• AI Services And Robotics Lead Diverse Crop Of 29 New May Unicorns As SpaceX, Anthropic And OpenAI Line Up Blockbuster Exits

Methodology

The 萝莉视频 萝莉视频 is a curated list that includes private unicorn companies with post-money valuations of $1 billion or more and is based on 萝莉视频 data. New companies are as they reach the $1 billion valuation mark as part of a funding round.

The unicorn board does not reflect internal company valuations 鈥� such as those set via a 409a process for employee stock options 鈥� as these differ from, and are more likely to be lower than, a priced funding round. We also do not adjust valuations based on investor writedowns, which change quarterly, as different investors will not value the same company consistently within the same quarter.

Funding to unicorn companies includes all private financings to companies that are tagged as unicorns, as well as those that have since graduated to .

Exits analyzed here only include the first time a company exits.

Please note that all funding values are given in U.S. dollars unless otherwise noted. 萝莉视频 converts foreign currencies to U.S. dollars at the prevailing spot rate from the date funding rounds, acquisitions, IPOs and other financial events are reported. Even if those events were added to 萝莉视频 long after the event was announced, foreign currency transactions are converted at the historic spot price.

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This is a weekly feature that runs down the week鈥檚 top 10 announced funding rounds in the U.S. Check out last week鈥檚 biggest funding deal roundup here.

It was not a holiday week on the funding front, as a raft of largely AI-focused companies closed big rounds. The largest of these was a $1.5 billion financing to enterprise AI startup and a Series D for meal and delivery provider . The week also included some big financings for enterprise tech, food delivery, drones and construction automation.

1. , $1.5B, enterprise AI tools: Fireworks AI, a developer of tools for enterprises to turn 鈥済eneral-purpose models into specialized intelligence trained on their own data,鈥� raised $1.505 billion in Series D funding. , and led the financing, which set a $17.5 billion valuation for the San Mateo, California-based company.

2. , $650M, meals and delivery: Wonder, an operator of kitchens and meal delivery services, closed on $650 million in Series D funding at a $9 billion pre-money valuation. Capital will go in part toward expanding operations for the New York-based company, which currently has 140 locations.

3. , $400M, life sciences AI: AI drug discovery startup Chai Discovery secured $400 million in Series C funding at a $3.8 billion valuation. led the financing, investing alongside , , and others.

4. , $300M, robots: Cambridge, Massachusetts-based Walden Robotics, a startup building general-purpose robots for work in manufacturing and logistics, launched out of stealth with $300 million in funding. and led the round, which values the company at $1.1 billion.

5. , $125M, drones: Seattle-based Brinc, a developer of drones for use in public safety and emergency operations, raised $125 million in fresh funding. led the financing, with participation from , and founder and CEO .

6. (tied) , $100M, construction automation: Austin-based TerraFirma, a developer of AI-enabled software and autonomous robotics technology for the construction industry, landed $100 million in new funding, bringing total investment to date to $115 million.

6. (tied) , $100M, enterprise AI: Spectro Cloud, a provider of AI infrastructure management software, said it raised more than $100 million in a Series D round led by . The financing brings total capital raised by San Jose-based Spectro Cloud to $260 million.

8. , $80M, defense tech: Singularity, a startup focused on developing air defense technology, emerged from stealth with $80 million in Series A funding. and 1聽led the financing, which set a $400 million valuation for the Los Angeles-based company.

9. (tied) , $70M, fintech: San-Francisco-based fintech startup Flex, a private banking platform for high-net-worth business owners, raised $70 million in a Series B1 financing led by . The round follows the company’s $60 million Series B in December.

9. (tied) , $70M, AI and policy: State Affairs, an AI platform for policy and regulation, secured $70 million in Series A funding led by Khosla Ventures and .

Methodology

We tracked the largest announced rounds in the 萝莉视频 database that were raised by U.S.-based companies for the period of July 11-17. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

Illustration:

This is a weekly feature that runs down the week鈥檚 top 10 announced funding rounds in the U.S. Check out last week鈥檚 biggest funding deal roundup here.

AI once again dominated venture funding this week, claiming five of the 10 largest announced rounds, including a pair of billion-dollar financings for AI infrastructure and cybersecurity that led the pack. Investors also continued to back quantum computing, geothermal energy, crypto infrastructure and aerospace startups with large checks. Let鈥檚 take a look.

1. (tied) , $1B, cybersecurity: Keyfactor raised a $1 billion private equity round led by. Other investors in the private equity round for the Independence, Ohio-based company included and . Keyfactor provides digital identity and machine identity management software that helps enterprises secure certificates, encryption keys and connected devices. It has now raised $1.21 billion to date, .

1. (tied) , $1B, AI infrastructure: Palo Alto, California-based SambaNova officially announced a long-awaited $1 billion Series F deal at an $11 billion post-money valuation led by. A of other investors joined the round, including ,,,,, and. SambaNova develops AI chips and enterprise AI infrastructure for training and inference workloads. The company has raised nearly $2.5 billion to date, .

3. , $300M, quantum computing: , and co-led a sizable $300 million Series A for South Pasadena, California-based quantum startup Oratomic. A of 16聽 investors participated in the round, including , , , co-founder , and computer scientist . Oratomic is developing neutral-atom quantum hardware and fault-tolerant architectures designed to accelerate the commercialization of quantum computing, an area that has seen robust venture investment in recent years.

4. , $134M, clean energy: Houston-based Quaise Energy raised a $134 million Series B led by . Additional investors included , and. Quaise is developing millimeter-wave drilling technology to unlock deep geothermal energy, an emerging source of carbon-free power. To date, the company has raised $225 million.

5. , $130M, artificial intelligence: San Francisco-based Prime Intellect raised a $130 million Series A led by . A of investors 鈥� many of them prominent Silicon Valley figures 鈥斅爅oined, including CEO , 颁贰翱听 , co-founder , CEO and co-CEO . Corporate investors , and also backed the round. Prime is building an open platform for training and deploying AI models across distributed compute networks. It has now raised $200.4 million total, .

6. , $125M, crypto infrastructure: New York-based Gauntlet raised a $125 million Series B, with Japan鈥檚 as the sole investor. The company develops simulation, risk management and optimization software for decentralized finance protocols.

7. , $120M, artificial intelligence: New York-based Norm AI secured a $120 million Series C led by at a reported $1.2 billion valuation to expand its AI-powered regulatory compliance platform. The company develops AI systems that translate complex laws and regulations into software to help enterprises automate their compliance workflows. The latest funding included a long list of other venture, corporate and individual backers including , , , and , the chairman of and former president of , which also participated in Norm AI鈥檚 deal. The startup has now raised just over $256 million, .

8. , $91M, aerospace and defense: Aerospace continues to draw substantial investor attention, as was the case this week with Houston-based Venus Aerospace鈥檚 $91 million Series B. backed the round, which will be used to advance development of Venus鈥� hypersonic propulsion technology. The company is building engines and aircraft designed to dramatically reduce long-distance flight times while supporting future defense applications. It has now raised $197 million total. An of investors joined in its Series B, including , , , and .

9. , $76M, fintech: Digital asset exchange EDX Markets raised $76 million as institutional interest in crypto trading infrastructure continues to grow. The deal was backed by sole investor , marking the second large crypto funding deal for the Japanese firm this week, along with Gauntlet鈥檚 aforementioned round. EDX operates a marketplace designed specifically for institutional investors. It鈥檚 not clear how much it raised in previous rounds.

10. , $67.4M, biotechnology: Philadelphia-based Fore Biotherapeutics (previously known as NovellusDx) raised $67.4 million in Series D funding to advance its precision oncology therapies targeting rare cancer mutations. The company is developing targeted treatments for patients whose tumors are driven by specific genetic alterations. led the latest round, which brings its total to date to just over $274 million. , , , and other investors also joined.

Large non-US deals:

Several startups based outside the U.S. also raised notable fundings this week. They include:

• , 鈧�411M, fusion energy: Munich-based Proxima Fusion raised a 鈧�411 million (about $468 million) Series B funding round to develop what鈥檚 poised to become Europe鈥檚 first commercial fusion energy power plant. Lead investors in the round include , , and .
• , 鈧�200M, workplace tech: led the 鈧�200 million ($229 million) private-equity round for Paris-based Skello, which makes HR software for employers to handle tasks such as payroll, scheduling, compliance and employee communications.

Methodology

We tracked the largest announced rounds in the 萝莉视频 database that were raised by U.S.-based companies for the period of July 4-10. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

Illustration:

Our inboxes overflowed with interesting deals in the past month, but we managed to sift through them all to find the five most intriguing ones.

They include a startup that鈥檚 simultaneously developing AI models for biology and trying to prevent the threats that stem from those types of advances, a company that says it wants to prevent modern day private markets from the kind of paperwork crisis that shut down Wall Street in the ’60s, and AI agents that can dispatch plumbers and electricians to your door.

$50M for ‘general biological intelligence’

AI has conquered text, images and code. Now one startup wants to do the same for DNA.

San Francisco-based last month emerged from stealth with a hefty $50 million seed round led by , with participation from , , and . The startup said it also received pre-seed backing from co-founder .

Radical Numerics was founded by the team behind , one of the first AI models capable of reading and generating DNA sequences at scale. The startup鈥檚 mission is even more ambitious: building what it calls 鈥済eneral biological intelligence,鈥� or multimodal AI models that can reason across DNA, RNA, proteins and other biological data to accelerate drug discovery, cancer diagnostics and biosecurity.

Alongside the funding, the company previewed Omnii, its next-generation genome language model.

The company’s dual focus on human health and biodefense reflects a growing theme in frontier AI investing. 萝莉视频 data shows that as models become increasingly capable of designing biological systems, investors have poured tens of millions of dollars into startups that promise not only to accelerate scientific discovery, but also help detect and defend against AI-generated biological threats.

鈥淓vo showed that AI can generate DNA and whole genomes, the next generation of models will go further with the ability to control function, and eventually, create entirely new forms of life,鈥� Radical Numerics CEO said in a statement. 鈥淥ur multimodal models are already far more capable, and we understand the responsibility that comes with that. The same models that can help cure disease may also lower the barrier to designing harmful biology. These forces are inseparable. Biology will be the most consequential application of AI.鈥�

Related 萝莉视频 query:

$40M for AI that dispatches the plumber

The AI gold rush has reached an unlikely destination: your local plumber and HVAC company. New York-based said last month that it has raised $40 million in new funding: a $34 million Series A led by and a $6 million seed round led by , with Sequoia also participating in the Series A.

The startup is building what it calls an AI operating system for home service businesses, from plumbers and electricians to HVAC contractors. Rather than adding yet another AI chatbot or voice agent, Probook says it aims to replace the patchwork of software many contractors use with a single platform centered on dispatch, arguably the most critical function in the business.

Its software ties together customer intake, scheduling, messaging and outbound communications so technicians spend less time waiting for jobs and office staff spend less time coordinating them.

“I started Probook to solve a problem in my own business,” Probook CEO and co-founder said in a statement. “I grew up pressure washing in upstate New York with my dad. Six summers in the truck. I spent two to three hours of my day driving between jobs. I’d be up on a ladder washing a house and miss calls because I couldn’t hear my phone ringing.”

The company is tapping into a growing trend of vertical AI startups targeting industries that have historically lagged in software adoption, and they鈥檙e seeing keen enthusiasm from investors betting that trades such as plumbing, electrical and HVAC represent a massive opportunity to automate workflows and potentially boost profit margins for businesses that still run much of their operations by phone, clipboard and spreadsheet.

Related 萝莉视频 query:

$25M for subterranean warfare

Defense investors have poured billions into startups developing drones and missiles for the sky, tanks and other vehicles for land warfare, and autonomous military vessels for the water.

But a newly funded startup, , is betting the next battlefield is below the ground. The Austin-based startup emerged from stealth last month with a $25 million seed round led by , with participation from a long list of other investors including , , , and , and strategic angels including and founders from and .

Traysar calls itself the world’s first “subterra” defense tech company. Rather than building systems for the skies or seas, it’s developing autonomous platforms that can tunnel underground, map subterranean networks, breach hardened infrastructure and deliver payloads beneath the Earth’s surface. It鈥檚 there that it says modern warfare is increasingly being conducted in places like Iran, with its underground nuclear bunkers; Gaza, which has a vast Hamas-built subterranean tunnel network; and Ukraine, which has moved more of its military infrastructure beneath the surface to protect it from aerial drone threats.

The startup, whose founding team includes former engineers from and , is developing two autonomous underground systems. The first is an excavator-type robot designed to navigate, map and breach tunnels from within, giving military operators a way to explore or disable underground networks without sending in troops.

The second is a high-speed burrowing platform that drills new underground access points and can carry payloads 鈥� from explosives to sensing equipment 鈥� beneath the surface, bringing tunnel-boring technology to the battlefield.

Through the first half of 2026, defense-tech startups globally raised nearly $15.8 billion, by far the largest funding half-year for the sector on record, per 萝莉视频 data. Of course, the vast majority of that has gone toward above-ground or marine technologies.

鈥淭he global defense industry has a vertical bias: hundreds of billions flow skyward into missiles, missile defense, drones, and counter-drone systems, while adversaries dig in building deeply buried facilities the U.S. cannot reliably strike, and cannot affordably keep disabled,鈥� Traysar in its funding announcement.

Related 萝莉视频 query:

$23.7M for AI growth tools for small businesses

Most AI startups chase large enterprise customers. is betting the neighborhood coffee shop and corner restaurant are the bigger opportunity.

The New York-based startup last month emerged from stealth with $23.7 million in funding, including a $19.5 million Series A led by . , ‘s , , , , and also participated.

Pie says it鈥檚 creating an AI-powered growth platform that helps local merchants get discovered聽 across AI search platforms like ChatGPT and Claude where customers increasingly begin their searches, as well as more traditional marketing channels like Maps, and .

The company also unveiled Front Desk, an AI agent that it says can answer calls around the clock, book appointments and handle customer inquiries when business owners can’t get to the phone.

Founded by former and executives, Pie says it has already reached thousands of businesses through partnerships with industry software providers while operating in stealth.

鈥淧ie is bringing AI to Main Street by starting with one of the biggest pain points for small business owners: finding new customers,鈥� , partner at Lightspeed, said in a statement. 鈥淐ustomer acquisition is a powerful entry point, but the broader vision is to build an AI platform that can support small businesses across more of their daily operations over time.鈥�

Related 萝莉视频 query:

$2M to tackle the private market paperwork crisis

Wall Street once got so buried in paperwork that the shut down every Wednesday . Six decades later, Berlin-based thinks private markets are headed toward a similar reckoning and just raised $2 million to stop it.

The company鈥檚 pre-seed round was led by , with participation from and individuals from firms including and .

Founded by two early employees of fund administration startup , Nomerra is building AI agents for the operational work that keeps private capital markets running behind the scenes.

While public markets rely on standardized infrastructure, private markets still depend heavily on emails, PDFs, spreadsheets and disconnected software, the company said. Its software plugs into existing ERP systems, banking platforms and document repositories, then uses AI agents to read documents, reconcile information across systems and complete workflows such as fund accounting, treasury operations and transfer agency work.

At the same time, private markets are expected to swell from roughly $13 trillion today to more than $30 trillion over the coming years, according to Nomerra, even as the industry faces a shortage of qualified accounting and operations professionals.

Rather than replacing existing software, the company says it aims to automate the manual tasks that have traditionally required growing back-office teams.

鈥淭hink of how telephone operators used to connect one caller to another by plugging cables into a switchboard,鈥� , Nomerra co-founder and CEO, said in a statement. 鈥淭oday, the idea that humans once routed every phone call manually seems absurd. Private market operations are at the same turning point. In a few years, people will look back and wonder how any of this was ever done by hand.鈥�

Related 萝莉视频 query:

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• 5 Interesting Startup Deals You May Have Missed: A Law Firm Operating System, Building Defense Tech Near The Battlefield, And Cell-Based Milk
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