By Venture Pulse Daily | Hasan Tarek

The venture capital market is closing 2025 in a state of sharp financial asymmetry, one that at first glance appears buoyant but, on closer inspection, reveals a deeply bifurcated capital environment. Global investment volumes have once again pushed well past the $100 billion mark for the quarter, a headline number that suggests renewed momentum after years of tightening. Yet this aggregate figure obscures a more sobering reality: the overwhelming majority of capital has been absorbed by a narrow cohort of mega-rounds concentrated almost exclusively in AI infrastructure, foundational models, and the physical and digital systems required to sustain computational scale. Far from signaling a broad-based recovery, the data points to an industry that has become increasingly selective, hierarchical, and unforgiving outside the top tier of perceived category leaders.

At the apex of this capital stack sit a handful of companies building the core layers of the AI economy—model platforms, inference infrastructure, data orchestration systems, and compute-adjacent services. Mega-rounds measured in the hundreds of millions, and in some cases well into the billions, have become the defining feature of late-2025 deal flow. These financings are not speculative growth bets in the traditional venture sense; they resemble infrastructure underwriting more than startup risk capital. Institutional investors are effectively making a long-term wager that computational dominance—control over training pipelines, deployment efficiency, and energy-secure compute—is the primary choke point in the next decade of technological competition. In this framing, capital intensity is not a liability but a defensive moat, one that smaller challengers are structurally unable to cross.

This thesis is reinforced by the nature of contemporary merger and acquisition activity. Strategic buyers are no longer pursuing scale for scale’s sake or rolling up competitors to boost short-term market share. Instead, M&A has become a targeted hunt for scarce inputs: elite AI engineering talent, proprietary datasets that can materially improve model performance, domain-specific workflows that anchor enterprise adoption, and infrastructure assets that shorten time-to-deployment. Large technology firms and well-capitalized platforms are deploying multi-billion-dollar checks not to enter new markets wholesale, but to surgically acquire capabilities that would take years to build internally. In effect, acquisitions have become an extension of R&D strategy, substituting balance sheet strength for development time in a market where speed is existential.

Beneath these headline-grabbing transactions, however, the venture ecosystem tells a very different story. The early-stage market—particularly Seed through Series A, spanning roughly $1 million to $20 million—has entered a phase of heightened discipline that borders on austerity. Capital is available, but only for startups that can demonstrate immediate and tangible value creation, often tied directly to AI-enabled efficiency gains. The era of broad, horizontal narratives has largely ended. Investors are no longer persuaded by generalized claims of “AI-powered disruption”; they are demanding evidence of proprietary advantage, defensible data moats, and credible paths to positive unit economics within constrained capital envelopes.

This shift is most pronounced in mission-critical and regulated sectors, where software adoption is driven less by novelty and more by necessity. Defense technology, industrial automation, energy systems, healthcare compliance, and financial infrastructure have emerged as focal points for early-stage investment precisely because they offer durable demand and institutional buyers with non-discretionary budgets. Within these domains, Agentic AI—systems capable not merely of analysis but of autonomous action within defined constraints—is increasingly viewed as the next frontier. These tools promise not just productivity gains, but structural cost reductions and operational resilience, attributes that resonate strongly with both customers and cautious investors.

The reopening of the IPO market, though still selective, has provided an additional layer of complexity to the capital landscape. A handful of high-profile technology listings and late-stage exits have injected much-needed liquidity back into the system, offering validation for certain growth-stage valuations and giving long-sidelined investors a path to realization. Yet this window remains narrow and unforgiving. Public markets are rewarding profitability, predictability, and operational leverage, not the growth-at-all-costs models that dominated the previous cycle. For venture-backed companies contemplating an exit, the message is clear: scale alone is insufficient without clear evidence of sustainable margins and disciplined execution.

Perhaps the most constrained segment of the ecosystem heading into 2026 is fund formation itself. While capital continues to flow into a small number of established managers and niche specialists, the broader fundraising environment for General Partners has become exceptionally challenging. Limited Partners, still managing denominator effects and portfolio rebalancing, are exhibiting unprecedented selectivity. Capital commitments are increasingly concentrated in funds with deep domain expertise—AI infrastructure, climate technology, life sciences—where conviction is grounded in structural tailwinds rather than cyclical optimism. Generalist strategies, once the backbone of venture portfolios, are finding themselves squeezed out by a market that now prizes specialization, operational insight, and a demonstrable ability to underwrite risk in complex, capital-intensive sectors.

Taken together, these dynamics paint a picture of a venture market that is neither uniformly hot nor broadly frozen, but instead defined by extremes. At the top end, capital is abundant, patient, and strategically motivated, flowing into a narrow set of platforms deemed essential to the future of computation and global competitiveness. At the early stage, funding exists but under strict conditions, favoring founders who can articulate not just vision but immediate economic logic. And at the fund level, the industry is undergoing a quiet consolidation of its own, as LPs gravitate toward high-conviction specialists and leave less differentiated managers struggling for relevance.

As the industry turns the page into the new year, the premium on disciplined growth has never been clearer. Venture capital in 2026 is shaping up to be less about storytelling and more about systems—systems that allocate compute efficiently, deploy capital conservatively, and convert technological advantage into durable economic outcomes. In that sense, the stark contrasts closing out 2025 may not represent a temporary distortion, but rather the new equilibrium for a maturing asset class that is learning, once again, to live with constraints.

I. Mega Rounds & Late Stage Funding (>$50M) 

1. SalesCore raises $1.15B in Series B (The SaaS News)
   https://www.thesaasnews.com/news/salescore-raises-1-15-billion-in-series-b

2. InsightX raises $600M in Series A (The SaaS News)
   https://www.thesaasnews.com/news/insightx-raises-600-million-in-series-a

3. K2 Space raises $250M new venture capital (Aviation Week)
   https://aviationweek.com/space/satellites/sat-maker-k2-space-raises-250m-new-venture-capital

4. Fal raises $140M in Series D led by Sequoia (The AI Insider)
   https://theaiinsider.tech/2025/12/12/fal-raises-140m-in-series-d-led-by-sequoia-with-major-participation-from-kleiner-perkins-and-new-investment-from-alkeon-capital-and-nventures-nvidias-venture-capital-arm-to-accelerate-the/

5. Bedford Ridge Capital leads $100M investment in Quantum Art (WSJ)
   https://www.wsj.com/articles/bedford-ridge-capital-leads-100-million-investment-in-quantum-art-2b3b126e?gaa_at=eafs&gaa_n=AWEtsqexybZHpw76LNdgTtC6f4C-NaBYd-JSqVfETl0FZmvNuiHdLcOxarLUkz3h_6Q%3D&gaa_ts=693c11e8&gaa_sig=_sowGNaoZ0oBuDJNWVYWuF_ChSRqffcJTdzt9C5-Ez9EhjWXnejiNEdG7CeFFQYJWvRLOX9EnZg91Dki-UlG5g%3D%3D

6. Nu Quantum raises $60M led by National Grid (Silicon Republic)
   https://www.siliconrepublic.com/start-ups/nu-quantum-funding-infrastructure-entanglement-uk

7. Vatn Systems closes $60M Series A (Citybiz)
   https://www.citybiz.co/article/782857/lockheed-martin-ventures-backed-vatn-systems-closes-60m-series-a/

8. Duve raises $60M in Series B (The SaaS News)
   https://www.thesaasnews.com/news/duve-raises-60-million-in-series-b

9. Fractional Bond confirms it raised an additional $44M (Private Jet Card Comparisons)
   https://privatejetcardcomparisons.com/2025/12/09/start-up-fractional-bond-confirms-it-raised-an-additional-44-million/

10. Yoodli pitch deck; startup now valued at $300M+ (GeekWire)
    https://www.geekwire.com/2025/heres-the-pitch-deck-used-by-yoodli-the-seattle-startup-now-valued-at-more-than-300m/

II. Growth & Mid-Stage Funding ($10M–$50M) 

11. Outset raises $30M Series B (The SaaS News)
    https://www.thesaasnews.com/news/outset-raises-30-million-series-b

12. Startup raises $30M for plasma-based tech to produce hydrogen for industrial heat (Hydrogen Insight)
    https://www.hydrogeninsight.com/production/start-up-raises-30m-for-plasma-based-tech-to-produce-hydrogen-for-industrial-heat/2-1-1914791

13. LI.FI raises $29M (Fortune)
    https://fortune.com/2025/12/11/exclusive-crypto-startup-li-fi-raises-29-million/

14. Fibe raises $35M Series F (FinTech Futures)
    https://www.fintechfutures.com/venture-capital-funding/fibe-raises-35m-series-f

15. SuperCircle raises $24M (Ventureburn)
    https://ventureburn.com/supercircle-raises-24m/

16. Prime Security raises $20M from Scale Venture Partners (Citybiz)
    https://www.citybiz.co/article/781815/prime-security-raises-20m-from-scale-venture-partners/

17. Rencore extends Series A to $15M (The AI Insider)
    https://theaiinsider.tech/2025/12/08/rencore-extends-series-a-to-15m-to-accelerate-ai-governance-growth-and-international-expansion/

18. Safebooks AI raises $15M in seed funding (FinSMEs)
    https://www.finsmes.com/2025/12/safebooks-ai-raises-15m-in-seed-funding.html

19. Skydo raises $10M+ in Series A (FinSMEs)
    https://www.finsmes.com/2025/12/skydo-raises-over-10m-in-series-a-funding.html#google_vignette

III. Early Stage & Seed Rounds ($1M–$10M) 

20. Pryzm raises $12.2M in seed funding (FinSMEs)
    https://www.finsmes.com/2025/12/pryzm-raises-12-2m-in-seed-funding.html

21. Trendtracker raises $7M Series A (The SaaS News)
    https://www.thesaasnews.com/news/trendtracker-raises-7-million-series-a

22. Double raises $6.5M Series A (The SaaS News)
    https://www.thesaasnews.com/news/double-raises-6-5-million-series-a

23. TestMachine secures over $6.5M in venture funding (CryptoPotato)
    https://cryptopotato.com/testmachine-secures-over-6-5m-in-venture-funding-to-expand-ai-driven-blockchain-security-solutions/

24. 3 businesses secure $6.2M through NJEDA’s Evergreen Fund (NJB Magazine)
    https://njbmagazine.com/njb-news-now/3-businesses-secure-6-2m-in-investments-through-njedas-evergreen-fund/

25. A2Z Radiology raises $5M; scores 1st FDA clearance (Radiology Business)
    https://radiologybusiness.com/topics/artificial-intelligence/imaging-artificial-intelligence-startup-a2z-radiology-raises-5m-scores-1st-fda-clearance

26. Madison AI raises $3.5M (GovTech)
    https://www.govtech.com/biz/local-government-tech-startup-madison-ai-raises-3-5m

27. CoreOps AI raises $3.5M pre-Series A (The SaaS News)
    https://www.thesaasnews.com/news/coreops-ai-raises-3-5m-pre-series-a

28. BuildCheck raises $5.9M seed round (The SaaS News)
    https://www.thesaasnews.com/news/buildcheck-raises-5-9-million-seed-round

29. Empromptu AI raises $2M in funding (The SaaS News)
    https://www.thesaasnews.com/news/empromptu-ai-raises-2-million-in-funding

30. Helmet Security raises $9M seed round (The SaaS News)
    https://www.thesaasnews.com/news/helmet-security-raises-9-million-in-seed-round

31. Tracktile raises $1.25M seed round (The SaaS News)
    https://www.thesaasnews.com/news/tracktile-raises-1-25-million-seed-round

IV. Funds & New Vehicles 

32. Brainworks Ventures unveils $50M AI-native fund (Yahoo Finance)
    https://finance.yahoo.com/news/brainworks-ventures-unveils-50m-ai-140500346.html

33. Factorial Capital — $25M Fund II (Pulse 2.0)
    https://pulse2.com/factorial-capital-25-million-fund-ii/

34. Five35 Ventures fund secures anchor investment from Mastercard Foundation (Disrupt Africa)
    https://disruptafrica.com/2025/12/11/pan-african-vc-firm-five35-ventures-latest-fund-secures-anchor-investment-from-mastercard-foundation/

35. U2V launches €70M fund to back European university spinouts (Global Venturing)
    https://globalventuring.com/corporate/europe/venture-capital-firm-u2v-launches-70m-fund-to-back-european-university-spinouts/

36. U2V launches €60M deep-tech spinout fund (Tech Funding News)
    https://techfundingnews.com/u2v-60m-fund-deep-tech-spinouts-europe/

37. Transition VC closes Fund I at INR 700 Cr (Entrepreneur India)
    https://www.entrepreneur.com/en-in/news-and-trends/transition-vc-closes-fund-i-at-inr-700-cr/500717

38. Fitz Gate Ventures third VC fund (Pulse 2.0)
    https://pulse2.com/fitz-gate-ventures-third-vc-fund/

39. Aneli Capital launches $35M fund (Pulse 2.0)
    https://pulse2.com/aneli-capital-35-million/

40. Catalpa Ventures closes a €30M fund to back early-stage healthtech (BeBeez)
    https://bebeez.eu/2025/12/11/luxembourg-based-catalpa-ventures-closes-a-e30-million-fund-to-back-early-stage-healthtech-innovation/

41. makesense launches €15M fund to back circular + inclusive ventures (BeBeez)
    https://bebeez.eu/2025/12/11/frances-makesense-launches-e15-million-fund-to-back-circular-and-socially-inclusive-ventures/

42. IAN Group closes $100M Alpha Fund (Entrepreneur India)
    https://www.entrepreneur.com/en-in/news-and-trends/ian-group-closes-usd-100-mn-alpha-fund-to-boost-early-stage/500669

43. British Business Bank invests £100M in UK life sciences fund (Bioxconomy)
    https://www.bioxconomy.com/investment/british-business-bank-invests-100m-in-fund-to-boost-uk-life-sciences

44. $28M fund launches to back IIT Bombay spinouts (Global Venturing)
    https://globalventuring.com/corporate/asia/28m-fund-launches-to-back-indian-institute-of-technology-bombay-spinouts/

V. M&A / Legal / Market Structure 

45. Tech startup CEO defrauded PE firm out of $20M, US charges (Reuters)
    https://www.reuters.com/legal/government/tech-startup-ceo-defrauded-private-equity-firm-out-20-million-us-charges-2025-12-09/

46. Kabir Narang leaves B Capital to launch new investment platform (TechCrunch)
    https://techcrunch.com/2025/12/09/b-capital-founding-partner-kabir-narang-leaves-to-launch-new-investment-platform/

47. Corporate venture capital explainer: what it is and why it’s on the rise (FT Adviser)
    https://www.ftadviser.com/venture-capital-trusts/2025/12/10/what-is-corporate-venture-capital-and-why-is-it-on-the-rise/

48. VC fundraising track lowest in a decade (The Information)
    https://www.theinformation.com/articles/vc-fundraising-track-lowest-decade

49. Sequoia internal vote/decision process (Business Insider)
    https://www.businessinsider.com/sequoia-partners-startup-decison-making-vote-process-venture-capital-2025-12

50. CEE venture funds overview / early-stage innovation growth (The Recursive)
    https://therecursive.com/cee-venture-funds-early-stage-innovation-growth/

51. VC misconceptions in CEE; bootstrapping vs funding (The Recursive)
    https://therecursive.com/venture-capital-misconceptions-cee-tech-future-bootstrapping-funding/

VI. Other Notable Tech / Ecosystem Items 

52. New York AI chemistry start-up (C&EN)
    https://cen.acs.org/physical-chemistry/computational-chemistry/New-York-AI-chemistry-start-up/103/web/2025/12

53. Israel Post business & innovation item (Jerusalem Post)
    https://www.jpost.com/business-and-innovation/article-880041

54. NJ Innovation Evergreen Fund invests in three startups (NJBIZ)
    https://njbiz.com/nj-innovation-evergreen-fund-invests-three-startups/

55. Gate Ventures invests in Goblin Finance (BeInCrypto)
    https://beincrypto.com/gate-ventures-invests-goblin-finance/

56. TenX Protocols debuts on TSXV after $30M financing (PR Newswire)
    https://www.prnewswire.com/news-releases/tenx-protocols-a-defi-technologies-advisory-client-and-venture-investment-debuts-on-tsx-venture-exchange-as-tnx-following-successful-30-million-financing-302638496.html

57. Korea Herald article (Korea Herald)
    https://www.koreaherald.com/article/10633697

58. Meet the VC founders who turned $150k into $8M backing an African startup (Business Insider Africa)
    https://africa.businessinsider.com/local/leaders/meet-the-vc-founders-who-turned-dollar150000-into-dollar8-million-backing-an-african/c70f2zs

By Venture Pulse Daily | Hasan Tarek

The final weeks of the year are seeing a powerful acceleration in deal flow, with a clear focus on technologies that drive enterprise efficiency, particularly AI, automation, and life sciences. At the top of the venture capital list, Eon, a cloud backup platform, secured a massive $300M Series D at a $4B valuation, underscoring the critical need to activate dormant data for enterprise AI strategies. This infrastructure trend was echoed by Axiado’s $100M Series C+ funding for AI data center security. Meanwhile, the automation and robotics sector saw Tokyo’s Mujin raise a $233M Series D, and the future of healthcare was bolstered by Curative’s $150M Series B at a $1.28B valuation, achieving unicorn status by focusing on health insurance. Further demonstrating conviction in advanced therapeutics, Tessera Therapeutics struck a substantial $150M partnership with Regeneron, while a Chinese biotech received a $100M Series B boost with Pfizer Ventures backing for R&D hubs.

Mid-stage funding saw continued energy in highly specific sectors, including nuclear power, with microreactor startup Antares raising $96M, and drug manufacturing, where Excelsior Sciences received $95M for its drug reshoring push. The theme of applying AI to complex industries was evident in PermitFlow’s $54M Series B for AI construction permitting and Flex’s $60M Series B for its AI-native private bank. European tech was also active, highlighted by smart TV OS developer Titan OS raising a €50M Series A, and Switzerland’s Corintis securing an additional $25M for AI data center chip cooling. Early-stage rounds included LizzyAI’s $5M seed for conversational hiring AI and Radical Health’s $5M pre-seed to build an “AI cancer doctor.” This capital formation is supported by strong VC fundraising, with Nexus Venture Partners notably raising $700M.

On the M&A front, strategic transactions show a flight toward scale and integration. Bending Spoons acquired Eventbrite for approximately $500M cash, consolidating market share in the events space. In the engineering and construction sector, AECOM acquired Norwegian AI start-up Consigli in a reported $390M deal to enhance its digital capabilities, while Holcim made acquisitions of Thames Materials and A&S Recycling to accelerate its circular construction goals. Private equity was active with Franchise Equity Partners agreeing to acquire the U.K.’s IMO Car Wash for €406M, and 26North buying 51% of Middleby's residential kitchens for an $885M EV. Finally, the financial sector saw Kraken agree to acquire Swiss tokenization platform Backed Finance, while a multi-year partnership was signed between HSBC and Mistral AI to integrate generative AI tools into the bank’s operations, proving that the theme of technological transformation is now driving both venture funding and corporate strategy.

Large Funding Rounds ($100M+) & Partnerships

• Eon raises $300 million Series D at $4 billion valuation to transform cloud backup and AI analytics

  • https://www.eon.io/news-and-events/series-d-funding

• Mujin Raises US$ 233 Million to Accelerate Global Growth and Drive the Future of Intelligent Automation

  • https://www.businesswire.com/news/home/20251202560677/en/Mujin-Raises-US%24-233-Million-to-Accelerate-Global-Growth-and-Drive-the-Future-of-Intelligent-Automation

• Curative Health Raises $150M, Reaches $1.275B Valuation

  • https://hitconsultant.net/2025/12/02/curative-health-raises-150m-reaches-1-275b-valuation/

• Gene-writing startup Tessera strikes $150M partnership with Regeneron

  • https://endpoints.news/gene-writing-startup-tessera-strikes-150m-partnership-with-regeneron/

• Regeneron pays $150M upfront to Tessera Therapeutics

  • https://www.axios.com/pro-rata

• Axiado Corporation Raises $100M in Series C+ Funding to Advance Platform Security and System Management Solutions for AI Data Centers

  • https://datacentremagazine.com/news/why-axiado-has-raised-100m-to-grow-ai-data-centre-security

• Motion Ventures Unveils $100M Fund for Maritime Technology

  • https://maritimefairtrade.org/motion-ventures-unveils-100m-fund-for-maritime-technology/

• Shop Circle secures €100M credit facility as it positions itself as Europe's alternative to VC funding

  • https://tech.eu/2025/12/03/shop-circle-secures-100m-credit-facility-as-it-positions-itself-as-europes-alternative-to-vc-funding/

• Perkins Coie ECVC Team Advises Heven Aerotech on $100M Series B Funding

  • https://perkinscoie.com/news/press-release/perkins-coie-ecvc-team-advises-heven-aerotech-100m-series-b-funding

• Pfizer Ventures gets behind Chinese biotech's $100M Series B to boost R&D hubs capability

  • https://www.fiercebiotech.com/biotech/pfizer-ventures-gets-behind-chinese-biotechs-100m-series-boost-rd-hubs-capability

• Excelsior Sciences gets $95 million for drug reshoring push

  • https://www.wsj.com/articles/excelsior-sciences-gets-95-million-for-drug-reshoring-push-50b9bcc5?gaa_at=eafs&gaa_n=AWEtsqeRJ-8OfVn7BcUtMJwuSrEDYaiCj_1oPH-gYMYIENJPOYwaJ4NNZNYIVtCSqHQ%3D&gaa_ts=69303b41&gaa_sig=VUbkEK-ZjJ2UX8LZRPsxaj67SZXMpowHJ44uyyyjwdT2Am3tzZF6_FNpEndGKyolcjZ2rFFYKmchz0RuBH58mg%3D%3D

• Microreactor startup Antares raises $96M for land, sea and space-based nuclear power

  • https://techcrunch.com/2025/12/02/microreactor-startup-antares-raises-96m-for-land-sea-and-space-based-nuclear-power/

• Angle Health snags $134M amid surging payer demand for cost savings

  • https://www.fiercehealthcare.com/finance/angle-health-snags-134m-amid-surging-payer-demand-cost-savings

• Pfizer-backed Triana scores $120M Series B to take molecular glue degrader to clinic

  • https://www.fiercebiotech.com/biotech/pfizer-backed-triana-scores-120m-series-b-take-molecular-glue-degrader-clinic

• Protego Biopharma raises $130M in Series B financing

  • https://www.finsmes.com/2025/12/protego-biopharma-raises-130m-in-series-b-financing.html

Mid-Stage Funding Rounds ($10M - $99M)

• Flex raises 60M Series B equity round to scale its AI-native private bank for high net worth business owners

  • https://www.globenewswire.com/news-release/2025/12/04/3199876/0/en/Flex-raises-60M-Series-B-equity-round-to-scale-its-AI-native-private-bank-for-high-net-worth-business-owners.html

• PermitFlow raises $54 million Series B

  • https://www.thesaasnews.com/news/permitflow-raises-54-million-series-b

  • Also cited: https://technews180.com/funding-news/permitflow-series-b-54m-to-build-ai-for-construction/

• Range raises $60M Series C to accelerate AI-driven wealth management

  • https://www.cathaycapital.com/range-raises-60m-series-c-to-accelerate-ai-driven-wealth-management/

• Titan OS raised €50M in Series A funding led by Highland Europe to expand its Smart TV operating system

  • https://www.techmeme.com/251202/p28

• Zafran raises $60 million and doubles valuation as it chooses independence over takeover offers

  • https://www.eon.io/news-and-events/series-d-funding

• AI roleplay startup Yoodli raises $40M, reports 900% revenue growth

  • https://www.geekwire.com/2025/ai-roleplay-startup-yoodli-raises-40m-reports-900-revenue-growth/

• Seattle startup Gradial raises $35M to boost agentic tools that automate enterprise marketing

  • https://www.geekwire.com/2025/seattle-startup-gradial-raises-35m-to-boost-agentic-tools-that-automate-enterprise-marketing/

• Nevis raises $35M Series A

  • https://www.fintechfutures.com/venture-capital-funding/nevis-raises-35m-series-a

• Niobium secures $23M oversubscribed financing to lead FHE hardware acceleration for the quantum and AI era

  • https://www.morningstar.com/news/accesswire/1114041msn/niobium-secures-23m-oversubscribed-financing-to-lead-fhe-hardware-acceleration-for-the-quantum-and-ai-era

• Corintis raised $25M led by Applied Digital (APLD) to scale its microfluidic liquid-cooling technology

  • https://www.stocktitan.net/news/APLD/applied-digital-leads-25-million-funding-round-for-corintis-to-g6pnspqlwwk0.html

• Ph7 Technologies raises $25.6M in Series B funding

  • https://www.finsmes.com/2025/12/ph7-technologies-raises-25-6m-in-series-b-funding.html

• Black Forest Labs lands €25.8 million to scale its visual AI platform

  • https://bebeez.eu/2025/12/01/used-by-adobe-canva-and-meta-germanys-black-forest-labs-lands-e258-million-to-scale-its-visual-ai-platform/

• Simular raised $21.5M in Series A funding led by Felicis to develop an AI agent that can control Mac and Windows operating systems

  • https://www.techbuzz.ai/articles/simular-raises-21-5m-for-ai-agent-that-controls-your-pc

• Paris Innerskin lands €12.8 million to grow its network of aesthetics centres

  • https://bebeez.eu/2025/12/03/paris-innerskin-lands-e12-8-million-to-grow-its-network-of-aesthetics-centres-and-integrated-skin-health-services/

• YUV raises 12M to scale sustainable hair colour

  • https://tech.eu/2025/12/05/yuv-raises-12m-to-scale-sustainable-hair-colour/

• Unlimited Industries raises 12 million in seed round

  • https://www.thesaasnews.com/news/unlimited-industries-raises-12-million-in-seed-round

• Laigo Bio raises $11.5 million in seed financing to advance its SureTAC targeted protein degradation candidates

  • https://www.globenewswire.com/news-release/2025/12/04/3199505/0/en/Laigo-Bio-raises-11-5-million-in-seed-financing-to-advance-its-SureTAC-targeted-protein-degradation-candidates-in-oncology-and-auto-immunity.html

• Venture Capital Fund Has $11.5M to Invest

  • https://www.beloitdailynews.com/news/business-news/venture-capital-fund-has-11-5m-to-invest/article_a29db5aa-f4ff-4384-95ea-167c43c9b73f.html

• Home Equity Fintech Nada Closes $10M Series A

  • https://fintech.global/2025/12/03/home-equity-fintech-nada-closes-10m-series-a/

• Seattle biotech startup Curi Bio lands $10M to expands its R&D support for drug discovery

  • https://www.geekwire.com/2025/seattle-biotech-startup-curi-bio-lands-10m-to-expands-its-rd-support-for-drug-discovery/

• Bitstack raised $15M in Series A funding to expand its bitcoin savings app

  • https://www.startupresearcher.com/news/bitstack-raises-15-million-to-launch-bitcoin-rewards-card-in-europe

• YC F25 Startup Multifactor Raises $15M Seed Round to Make Online Accounts Safe for AI Agents

  • https://www.prnewswire.com/news-releases/yc-f25-startup-multifactor-raises-15m-seed-round-to-make-online-accounts-safe-for-ai-agents-302633496.html

• Ply – $8.5M (inventory & purchasing platform)

  • https://www.axios.com/pro-rata

• Swiss cyber firm Saporo bags €7M Series A round

  • https://fintech.global/2025/12/04/swiss-cyber-firm-saporo-bags-e7m-series-a-round/

  • Also cited: https://pulse2.com/saporo-7-million-series-a/

• Summit Commercial Solutions secured $7.5M in Series A funding led by IA Capital

  • https://www.pehub.com/ia-capital-leads-series-a-in-summit-commercial-solutions/

• BuildAI lands $6 million to expand platform for global real estate investors

  • https://tech.eu/2025/12/03/builtai-lands-6-million-to-expand-platform-for-global-real-estate-investors/

Early-Stage & Seed Funding

• LizzyAI raised a $5M seed round led by NEA to develop its conversational AI platform

  • https://www.businesswire.com/news/home/20251202243223/en/LizzyAI-Raises-%245M-Seed-Round-Led-by-NEA-to-Redefine-the-Interview-in-the-%24500B-Recruiting-Market

  • Also cited: https://www.axios.com/pro-rata

• Radical Health – $5M “AI cancer doctor” pre-seed

  • https://www.axios.com/pro-rata

• Track Titan raises 5M for AI-powered Strava for motorsport

  • https://tech.eu/2025/12/04/track-titan-raises-5m-for-ai-powered-strava-for-motorsport/

• Orq AI Secures $5 Million in Seed Round

  • https://www.thesaasnews.com/news/orq-ai-secures-5-million-in-seed-round

• SPhotonix Secures $4.5 Million Pre-Seed Investment to Pioneer the Future of 5D Optical Memory and Optics

  • https://www.prnewswire.com/news-releases/sphotonix-secures-4-5-million-pre-seed-investment-to-pioneer-the-future-of-5d-optical-memory-and-optics-302633275.html

  • Also cited: https://www.axios.com/pro-rata

• The SaaS News: Donna Raises $4.8 Million Seed Round

  • https://www.thesaasnews.com/news/donna-raises-4-8-million-seed-round

• Curvestone AI closes a $4M round to enhance AI reliability for regulated industries

  • https://tech.eu/2025/12/04/curvestone-ai-closes-a-4m-round-to-enhance-ai-reliability-for-regulated-industries/

  • Also cited: https://www.thesaasnews.com/news/curvestone-ai-raises-4-million-seed-round

• French startup Resoil secures €4 million to scale regenerative agriculture initiatives

  • https://www.eu-startups.com/2025/12/french-startup-resoil-secures-e4-million-to-scale-regenerative-agriculture-initiatives/

• Seattle-area startup Govstream.ai raises $3.6M to improve city permitting processes using AI

  • https://www.geekwire.com/2025/seattle-area-startup-govstream-ai-raises-3-6m-to-improve-city-permitting-processes-using-ai/

  • Also cited: https://www.axios.com/pro-rata

• Adcities raises €3 million to scale its OOH adtech

  • https://bebeez.eu/2025/12/01/adcities-raises-e3-million-to-scale-its-ooh-adtech-after-powering-25-brand-campaigns-with-the-likes-of-telefonica-and-decathlon/

• MONQ Secures $3 Million Pre-Seed Round

  • https://www.thesaasnews.com/news/monq-secures-3-million-pre-seed-round

• Soxton AI raised a $2.5M pre-seed round led by Moxxie Ventures to build an AI-first law firm

  • https://siliconangle.com/2025/12/02/soxton-emerges-2-5m-build-lawyer-loop-ai-startup-legal-work/

• Ascentra Labs raises USD$2 million to help consultants use AI

  • https://venturebeat.com/ai/ascentra-labs-raises-usd2-million-to-help-consultants-use-ai-instead-of-all

• Hypercritical – £2M industrial software tools

  • https://www.axios.com/pro-rata

  • See also: https://tech.eu/2025/12/04/hypercritical-raises-ps2m-to-modernise-software-engineering-for-heavy-industry/

• Dutch startup Renno launches with €1 million targeting construction cash flow issues

  • https://www.eu-startups.com/2025/12/dutch-startup-renno-launches-with-e1-million-targeting-construction-cash-flow-issues/

• Fronted lands $1m to modernize global hiring using AI

  • https://tech.eu/2025/12/03/fronted-lands-1m-to-modernize-global-hiring-using-ai/

• WA livestock methane startup Freemantle Seaweed raises $2.2 million in crowdfunded seed round

  • https://www.startupdaily.net/topic/funding/wa-livestock-methane-startup-freemantle-seaweed-raises-2-2-million-in-crowdfunded-seed-round/

Private Equity (PE) & Acquisitions (M&A)

• Franchise Equity Partners agreed to acquire IMO Car Wash (U.K.) for €406M

  • https://www.nasdaq.com/articles/driven-brands-agrees-sell-international-car-wash-business

• Bending Spoons acquired Eventbrite for around $500M in cash

  • https://pitchbook.com/news/articles/bending-spoons-scoops-up-eventbrite-extending-acquisition-streak

• AECOM acquires AI start-up Consigli

  • https://aecmag.com/ai/aecom-acquires-ai-start-up-consigli/

• FE fundinfo, a financial data firm, acquired British investment distribution intelligence provider Finscape

  • https://www.fefundinfo.com/insights/fe-fundinfo-unveils-unmatched-fund-flow-intelligence-with-acquisition-of-finscape

• Holcim bought two U.K. companies, Thames Materials and A&S Recycling, plus an undisclosed one in France

  • https://www.webdisclosure.com/article/lafargeholcim-ltd-epa-lhn-holcim-expands-circular-construction-with-strategic-acquisitions-in-europe-s2j4KQJZ4tv

• Kraken, valued at $15B by VCs, agreed to acquire Backed Finance, a Swiss tokenization platform

  • https://www.businesswire.com/news/home/20251202666578/en/Kraken-to-Acquire-Backed-Accelerating-xStocks-Expansion-and-Unlocking-Global-Demand-for-Tokenized-Equities

• SiTime Corp. is reportedly in talks to acquire Renesas Electronics' timing unit, which is valued at $2B

  • https://www.indexbox.io/blog/sitime-in-talks-to-acquire-renesas-electronics-timing-unit/

• 26North buys 51% of Middleby’s residential kitchens ($885M EV)

  • https://www.axios.com/pro-rata

• Industrial Growth Partners acquired Marki Microwave, a developer of RF and mmWave technology

  • https://www.microwavejournal.com/articles/45090-industrial-growth-partners-acquires-marki-microwave

• Unity Partners acquired three landscaping businesses—Yardmaster, Big Lakes Lawncare, and Kunco Landscape

  • https://www.businesswire.com/news/home/20251202453083/en/Unity-Partners-Forms-Midwestern-Landscaping-Platform-with-Yardmaster-Big-Lakes-and-Kunco

• Vanco acquires ACS Technologies

  • https://www.axios.com/pro-rata

• WOW Carwash buys Blu Car Wash (Las Vegas)

  • https://www.axios.com/pro-rata

• Royal Cup acquisition (Braemont Capital)

  • https://www.axios.com/pro-rata

• NMS Capital acquires Axiom Medical

  • https://www.axios.com/pro-rata

• Gerard Daniel Worldwide acquires Durex Products

  • https://www.axios.com/pro-rata

• Sequoia Financial Group acquires Sterling Financial Group

  • https://www.axios.com/pro-rata

• OpenAI acquires Neptune

  • https://www.axios.com/pro-rata

• Quadient acquires CDP Communications

  • https://www.axios.com/pro-rata

• Lightbeam Health Solutions acquires Syntax Health

  • https://www.axios.com/pro-rata

• EnergyHub acquires Resideo Grid Services

  • https://www.axios.com/pro-rata

• Versant Media Group acquires Free TV Networks & Indy Cinema

  • https://www.axios.com/pro-rata

• Trane Technologies acquires Stellar Energy Digital

  • https://www.axios.com/pro-rata

VC Funds & Liquidity

• Nexus Venture Partners raises $700M

  • https://www.axios.com/pro-rata

• AM Capital targets $500M for debut secondaries fund

  • https://www.secondariesinvestor.com/am-capital-targets-500m-for-debut-secondaries-fund/

• Indico Capital Partners launches new €125 million venture fund (VCIII)

  • https://pulse2.com/indico-capital-partners-launches-new-e125-million-venture-fund-vciii/

• First Nations Venture Capital launches $45M fund for Indigenous communities

  • https://futureofgood.co/first-nations-venture-capital-launches-45-m-fund-for-indigenous-communities/

• Advaita Capital has raised $36M for Fund V

  • https://www.venturecapitaljournal.com/advaita-capital-has-raised-36m-for-fund-v/

• Anti-Fund Closes Oversubscribed $30 Million Fund; Logan Paul Joins as General Partner

  • https://www.businesswire.com/news/home/20251203220990/en/Anti-Fund-Closes-Oversubscribed-%2430-Million-Fund-Logan-Paul-joins-as-General-Partner-Firm-AUM-Tops-%2465-Million

  • Also cited: https://www.foxbusiness.com/sports/jake-logan-paul-business-partners-first-time-major-venture-capital-firm-news

• Conexus Venture Capital Fund Hits $30 Million Investment Goal

  • https://financialpost.com/globe-newswire/conexus-venture-capital-fund-hits-30-million-investment-goal

  • Also cited: https://betakit.com/cvc-hits-30-million-target-for-second-saskatchewan-focused-fund/

• Swedish VC Incore Invest completes €15 million second closing, bringing Invest II to €40 million

  • https://www.eu-startups.com/2025/12/swedish-vc-incore-invest-completes-e15-million-second-closing-bringing-invest-ii-to-e40-million/

  • Also cited: https://bebeez.eu/2025/12/04/incore-invest-closes-second-round-at-e40-million-to-fuel-europes-saas-and-fintech-growth/

• Plus VC targets 40 startup deals with $10M capital increase

  • https://cairoscene.com/Business/Plus-VC-Targets-40-Startup-Deals-10-Million-Capital-Increase

• HVL Venture Studio Fund launched for corporate startups

  • https://www.bizjournals.com/birmingham/news/2025/12/04/hvl-venture-studio-fund-corporate-startups.html

• Bitcoin Infrastructure Acquisition (SPAC) raised $200M in its Initial Public Offering (IPO)

  • https://www.spacinsider.com/news/headline-post/bitcoin-infrastructure-bixiu-prices-200m-ipo

• General Purpose Acquisition – $200M IPO

  • https://www.axios.com/pro-rata

• SilverBox V – $240M IPO

  • https://www.axios.com/pro-rata

• United Acquisition I – files for $100M IPO

  • https://www.axios.com/pro-rata

Industry News & Personnel

• HSBC taps French start-up Mistral to supercharge generative AI rollout

  • https://www.reuters.com/business/finance/hsbc-taps-french-start-up-mistral-supercharge-generative-ai-rollout-2025-12-01/

• Tesla is bleeding AI talent to a small new robotics start-up (Sunday Robotics)

  • https://electrek.co/2025/11/24/tesla-bleeding-ai-talent-small-new-robotics-start-up/

• FC Barcelona faces backlash over sponsorship with little-known crypto start-up (ZKP)

  • https://finance.yahoo.com/news/fc-barcelona-faces-backlash-over-090808228.html

• Top reason startups fail in their first two years: VC Reece Chowdhry (Concept Ventures) (Co-founder Misalignment)

  • https://www.cnbc.com/2025/12/01/top-reason-startups-fail-first-two-years-vc-reece-chowdhry-concept-ventures-europe-pre-seed-fund.html

• Ben Bergen leaving CCI to lead private capital advocacy group (CVCA)

  • https://www.theglobeandmail.com/business/article-ben-bergen-leaving-cci-to-lead-private-capital-advocacy-group/

• Ashleigh N. Ross Joined Mote, Inc. as Chief Commercial Officer

  • https://www.lelezard.com/en/news-22037710.html

• Lance Carr Joins Portage Point Partners as Head of Valuations Practice

  • https://www.prnewswire.com/news-releases/lance-carr-joins-portage-point-partners-as-head-of-valuations-practice-302630272.html

• Nate Fick joins Cerberus

  • https://www.axios.com/pro-rata

• Greg Brabec joins Silfab Solar as CLO

  • https://www.axios.com/pro-rata

By Venture Pulse Daily | Hasan Tarek

The venture capital and startup landscape concluded the week with a clear theme of consolidation and extreme valuation polarization. The biggest news centered on strategic M&A, led by Adobe's agreement to acquire Semrush for $1.9 billion. This move signals a significant push into Generative Engine Optimization (GEO) as Adobe seeks to integrate essential search and competitive intelligence data directly into its Creative and Experience Clouds, challenging other giants in the marketing technology space. Not far behind was S&P Global’s $1.8 billion acquisition of With Intelligence, underscoring the high premium placed on specialized financial and asset management data in the current market. This pair of deals drove nearly $4 billion in market consolidation activity.

The week’s funding activities reinforced the belief that exceptional companies command exceptional prices. Fintech giant Revolut finalized a secondary share sale that propelled its valuation to a staggering $75 billion, cementing its position as a world leader in digital banking and highlighting strong investor demand for liquidity in private scale-ups. Alongside this, AI music startup Suno raised new capital at a $2.45 billion valuation, notably backed by reports of $200 million in revenue, providing solid financial validation to its massive growth in the contentious generative AI sector. These valuations suggest that while capital is scarce for the average company, it is boundless for proven category leaders.

Among the week’s largest single funding rounds, longevity and consumer health took the top spot. Function Health secured a nearly $300 million Series B to expand its direct-to-consumer medical testing platform, demonstrating continued confidence in personalized wellness technologies. Other substantial growth funding included Guardio's $80 million raise for browser security and Model ML's $75 million to apply AI to automate workflows for junior bankers, showing investors are backing applications that drive significant operational efficiency. The robust flow of capital extended to new fund formation as well, with Japan’s ORIX closing a massive $2.5 billion private equity fund, and Firgun Ventures raising $250 million specifically for deep-tech quantum investments, ensuring that dry powder remains available for the next wave of innovation.

Finally, the week included several cautionary reminders about risk and infrastructure. News that a Cloudflare configuration error reportedly "broke 20% of the Internet" highlighted the systemic risks of relying on centralized web services. More critically, the legal system confirmed consequences for misconduct as the founder of tech startup Rumby admitted to defrauding investors, serving as a sharp note on the persistent need for governance and due diligence in the highly capital-intensive startup ecosystem.

The Top Line

• Headline Deal: Adobe agrees to acquire Semrush for $1.9B, signaling a major consolidation of SEO/content tools into the creative stack.

• Valuation Spike: Revolut hits a $75B valuation following a secondary share sale.

• Revenue Reveal: AI music startup Suno is reportedly generating $200M in revenue, fueling its new $2.45B valuation.

Unicorns & Mega Rounds ($100M+)

• Revolut | $75B Valuation The fintech giant completed a secondary share sale, cementing its status as Europe's most valuable private tech company.

• Function Health | $298M Raised a massive Series B to scale its direct-to-consumer medical testing and longevity platform.

• Suno | $250M The AI music generation platform raised fresh capital at a $2.45B valuation. The round comes as they reportedly hit $200M in revenue.

• Agnikul Cosmos | ₹150 Crore (~$18M) (Strategic Series C) The space startup secured funds to commercialize its reusable rockets.

Growth & Late Stage Funding ($20M–$100M)

• Guardio | $80M Consumer cybersecurity startup raised capital to protect browser users from phishing and scams.

• Doppel | $70M Series C funding to combat AI-powered social engineering (Link truncated in source).

• Model ML | $75M London/NYC-based startup raised to automate "grunt work" for junior bankers using AI.

• Phrontline Biopharma | $60M Pre-A financing to accelerate their biotech and pharmaceutical pipeline.

• Pay.com.au | $53M Australian B2B payments platform secured equity and debt to expand its rewards-based payment systems.

• Arbiter | $52M Healthcare startup secured a massive Seed round backed by family offices.

• Inception | $50M Secured funding to power diffusion LLMs, aiming to increase speed/efficiency by 10x.

• Sorcero | $42M Series B closed to improve the medical/life-sciences process with AI.

• Stuut | $29.5M AR startup raised Series A led by a16z.

• Dualbird | $25M Combined Seed and Series A funding for the new biotech entrant.

• Tidalwave | $22M Series A to improve the mortgage process using AI automation.

• Opti | $20M Identity security startup raised Seed funding from YL Ventures and Mayfield.

Early Stage & Seed ($1M–$20M)

• Cerrion | $18M – Series A for AI-based production line monitoring.

• Vijil | $17M – Agentic AI security.

• Codenotary | $16.5M – Software supply chain security.

• Rencore | $15M – Governance for Microsoft 365 / Cloud collaboration.

• AlixLabs | €14.1M – Semiconductor manufacturing (APS etching technology).

• Procure AI | $13M – Seed round for autonomous procurement.

• Gonka | $12M – African logistics/fintech play.

• OnLayer | $8.2M – Merchant risk platform expansion.

• ExRobotics | $7M – Robotic solutions for harsh environments.

• Mira | $6.6M – Smart eyeglasses seed round.

• Find Your Grind | $5M – Edtech Series A at a $20M valuation.

• Monq | €2.5M – AIOps platform reporting 40% cost savings for clients.

• GreenFi | $2M – ESG/Fintech seed funding.

• Ridelink | $1.1M – AI logistics and embedded finance.

M&A and Exits

• Adobe ➡️ Semrush ($1.9B) Adobe moves to acquire the SEO giant to integrate search data into its Creative and Experience Clouds.

• S&P Global ➡️ With Intelligence ($1.8B) Data giant S&P acquires the asset management data provider.

• Petershill ($237M Exit) Exited its minority stake in a VC secondaries specialist.

• Paxos ➡️ Fordefi ($100M+) Blockchain unicorn Paxos acquires the wallet infrastructure provider.

• Ondas ➡️ Roboteam ($80M) US group deepens its Israeli defense-tech buying spree.

• Cloudflare ➡️ Replicate (Acquisition details undisclosed).

• LevelBlue ➡️ Cybereason Private equity-backed acquisition in the cybersecurity space.

New Venture Funds

• Firgun Ventures: $250M (Quantum VC fund backed by Qatar Investment Authority).

• ORIX: $2.5B (Japanese Private Equity fund).

• EVP: $100M (New fund for early-stage software).

• Day One Capital: €45M (New fund for CEE region).

• National Taiwan University: $30M (Fund to kickstart local innovation).

• Chui Ventures: $17.3M (Final close for African mass-market startups).

• OnStage: $11.3M (Europe venture fund).

• Audeo Ventures: $10.6M (Fund II).

• McDermott: $10M (Specialist LegalTech fund).

News & Notes

• Cloudflare Incident: A configuration error reportedly "broke 20% of the Internet" temporarily, highlighting the centralization risks in web infrastructure.

• Rumby Fraud: The founder of tech startup Rumby admitted to defrauding investors, a continuing theme of governance crackdowns in 2025.

• Crypto Fraud: The SEC tied up a $4M action regarding crypto venture fraud.

By Venture Pulse Daily | Hasan Tarek

Global venture markets closed the week with a decisive return to high-conviction capital deployment, with investors demonstrating renewed willingness to fund sophisticated AI infrastructure, next-generation healthcare platforms, and deep-tech companies pushing the boundaries of hardware and advanced materials. The sentiment across North America, Europe, and Asia revealed a market that is neither overheated nor cautious, but selectively strong: investors continue to back founders solving real bottlenecks in compute, cybersecurity, biotech, payments, and industrial automation. The presence of multiple hundred-million-dollar rounds—particularly in medical diagnostics, AI networking chips, and defense-grade machine-learning systems—signaled that institutional capital is positioning ahead of an expected 2026 growth cycle, even as macroeconomic uncertainty remains a defining backdrop.

The week’s most significant theme was the intensification of AI capital flows, dominated by both software scale-ups and hard-tech infrastructure ventures. Function Health’s $300 million raise underscored the accelerating convergence of AI, diagnostics, and direct-to-consumer medicine, with investors betting on large-scale data platforms capable of reshaping preventive care for millions. This was complemented by Finland’s NestAI securing €100 million in a strategic partnership with Nokia to build defense-grade machine intelligence systems, reflecting a broader geopolitical shift: the intersection of AI and national security has now become a primary thesis for European sovereign funds and industrial partners. In parallel, Suno—one of the most legally embattled generative-music startups—raised at a $2.45 billion valuation on $200 million in annual revenue, demonstrating that IP controversy does not deter investor appetite for market-making categories in AI-generated creative tools.

Hardware-focused AI continued its global comeback, led by Celero’s $140 million round from Alphabet’s CapitalG for AI networking chips, and NcodiN’s €16 million seed for laser-driven photonic compute—the latter one of the most technologically significant early-stage raises of the year. The week also saw PowerLattice secure $25 million to break the “AI power wall,” reflecting the industry-wide concern that compute demand is outpacing energy infrastructure. These deals collectively point toward a market increasingly aware that software-only models cannot scale without breakthroughs in power efficiency, chip design, and advanced photonics.

Cybersecurity also stayed elevated as a priority category, with Guardio raising $80 million to protect consumers from identity attacks, Doppel securing $70 million to counter AI-powered social engineering, and Maxima bringing in $41 million for AI-native accounting controls. The convergence of fraud prevention, identity modeling, and AI-driven automation is transforming cybersecurity from a reactive field to an enterprise-coordination layer—and investor flows reflect this shift toward category integration. Similar momentum was visible in the fintech and compliance markets, where Sapi raised $80 million in one of the largest U.S. compliance rounds this quarter, and Stuut pulled in $29.5 million from Andreessen Horowitz to automate accounts receivable, marking a continued rise of back-office automation platforms now essential for scaling businesses exposed to regulatory complexity.

Healthcare and biotech saw standout movement as well. Arbiter Health’s $52 million round at a $400 million valuation reaffirmed that operational intelligence platforms in healthcare—especially those capable of navigating fragmented insurers and clinical workflows—continue to draw strong institutional interest. AI-Proteins’ $41.5 million Series A to expand its de-novo miniprotein therapeutics pipeline signaled serious confidence in computationally designed biology. The biotech sector also saw additional activity from Dalan Animal Health, which raised $3 million for shrimp vaccines, and Lifordi Immunotherapeutics, which expanded its strategic alignment with Sanofi. Taken together, these deals point toward a broader de-risking of science-driven startups as AI compresses R&D timelines and increases predictability across drug discovery cycles.

The industrial and manufacturing sectors were no less active. California’s announcement of nearly $100 million in manufacturing acceleration funds came as part of a broader state-level industrial revival strategy, while Tribe Stays’ $28 million seed round in India highlighted ongoing investor confidence in the premium co-living sector. Meanwhile, Agentio’s $40 million raise, Azra Games’ expansion round, and various European industrial automation startups receiving funding—including Integral’s €12 million raise and acquisition of Cleverlohn—illustrated that operational-tech investing is not slowing down. This was further emphasized by Thursday’s announcement of a £7 million investment into Polymodels Hub in the UK, as Europe continues to carve out a credible footprint in applied AI and industrial efficiency.

Infrastructure and financial engineering made notable appearances, with i80 Group providing a credit facility of up to $100 million to Lighter Capital, enabling new non-dilutive financing pathways for software companies. CIBC Innovation Banking’s $20 million financing for DealMaker further supported this trend. Across Europe, Donnerstag AI and Obex’s funding rounds reinforced a renewed focus on tools designed to rebuild the financial back-end of mid-market enterprises—an area long overdue for modernization.

Meanwhile, the geopolitics of AI infrastructure was evident with NVIDIA and Microsoft committing $15 billion to expand global compute and cloud capacity. This infusion marks one of the most strategically consequential capital movements of the year, effectively signaling that the AI arms race is entering a phase defined not by model innovation alone, but by compute sovereignty, energy resiliency, and global availability of high-performance clusters.

On the M&A side, activity stayed selective but meaningful. Berlin’s Integral scaled its capability stack by acquiring Cleverlohn alongside fresh capital, while several corporate buyers continued consolidating niche markets across Europe and North America. The deal environment reflected an ongoing shift toward “capability-first” acquisitions rather than pure revenue consolidation.

As the week closed, the global venture landscape showed a notable pattern: investors are no longer funding speculative narratives but backing companies with demonstrable traction, deep technical differentiation, and critical infrastructure significance. AI continues to dominate, but the story is no longer just about large language models—it is about the systems enabling the next decade of compute, security, medicine, and industrial resilience. With mega-rounds returning and mid-market deal flow stabilizing, Q4 2025 appears poised to close as one of the most structurally important quarters of the post-pandemic venture era.


VENTURE CAPITAL (VC ROUNDS)

1. AI Music Startup Suno Raises at $2.45B Valuation on $200M Revenue
   
   

2. Function Health Raises $300M for Direct-to-Consumer Medical Testing
   
   

3. Blue J (AI Tax Startup) Burns Model & Rebuilds with ChatGPT-Style Product
   
   

4. Guardio Raises $80M for Consumer Cybersecurity
   
   

5. Doppel Raises $70M Series C to Fight AI Social Engineering Attacks
   
   

6. Sapi Raises $80M in Major US Fintech Deal
   
   

7. Finland’s NestAI Raises €100M & Partners with Nokia on Defense AI
   
   

8. Celero Raises $140M from Alphabet's CapitalG for AI Networking Chips
   
   

9. Arbiter Health Raises $52M at $400M Valuation
   
   

10. Maxima Raises $41M for AI Accounting (Kleiner Perkins)
    
    

11. Stuut Raises $29.5M Series A (a16z)
    
    

12. Tractor Junction Raises $22.6M to Modernize Farming in India
    
    

13. Azra Games Raises Major Round (Ungodly AI)
    
    

14. NcodiN Raises €16M Seed for AI Laser Hardware
    
    

15. Revenium Raises $13.5M Seed Round
    
    

16. Polymodels Hub Raises £7M for Generative AI
    
    

17. Donnerstag AI Raises €4.3M for AR Automation
    
    

18. Obex Raises $37M to Build “Y-Combinator for Wealth”
    
    

19. Agentio Raises $40M Series B for AI Creator Ads
    
    

20. AI-Proteins Raises $41.5M Series A for Miniproteins
    
    

21. EMM Raises $9M Seed Round
    
    

22. Dalan Animal Health Raises $3M for Shrimp Vaccine
    
    

23. Kaaj Raises $3.8M Seed for Credit Risk Automation

FUND LAUNCHES / FUNDS RAISED

24. California Announces Nearly $100M for Statewide Manufacturing
    
    

25. SIDBI Venture Capital Launches Spacetech Fund
    
    

26. Legal-Tech VC Firm Closes $110M Fund

CREDIT FACILITIES / FINANCING

27. i80 Group Provides Up to $100M Credit Facility to Lighter Capital
    
    

28. PowerLattice Raises $25M for AI Power Efficiency
    
    

29. Hummink Raises $20M for Micronic Precision Printing
    
    

30. DealMaker Secures $20M Financing

M&A / ACQUISITIONS

31. Berlin’s Integral Raises €12M and Acquires Cleverlohn

DEFENSE / ADVANCED MANUFACTURING

32. NVIDIA & Microsoft Invest $15B in Global Cloud + AI Infrastructure
    
    

33. Tribe Stays Raises $28M for Co-Living in India
    
    

34. Luminal Raises $5.3M to Build Better GPU Code Framework

BIOTECH / HEALTHCARE

35. Lifordi Immunotherapeutics Partners with Sanofi
    
    

36. HomeTruth Hits $4M Valuation for Smart Homeowner Finance
    
    

Global venture markets moved through mid-November with a split personality: blockbuster capital for gritty, real-economy infrastructure on one side, and sharp scrutiny — even criminal cases — on the other. On the deployment front, the week’s standouts skewed toward “picks and shovels”: logistics, mobility, memory chips, climate and ag-tech, and the operating systems behind private capital itself. Forterra’s $238M Series C, Harbinger’s $160M round in commercial EVs, and Maybern’s $50M Battery-led deal for private-markets infrastructure all pointed to investors’ willingness to fund capital-intensive platforms that look more like industrials than classic SaaS. In parallel, new funds like J2’s $250M Brookhaven dual-use tech vehicle and NVP Capital’s AI-focused Fund II added fresh dry powder for defence, infrastructure and vertical AI plays.

The AI story did not slow down — it simply got more specialized. Tenzai’s $75M seed for observability and AI governance, Wonderful’s $100M Series A to put AI agents directly on the front lines of customer service, and a wave of smaller rounds in voice, compliance and developer tooling (Vida, Beside, Seismic, Bite Data, Greenfi, ForGIS, U-Space) reinforced the shift from generic models to tightly scoped, revenue-adjacent use cases. Europe continued to build out its own capital stack for AI and deeptech via Vendep’s €80M SaaS fund, Backed VC’s €100M Fund III, and Glasswing’s $200M Fund III, while Germany’s FMC and a French memory-chip startup each secured €100M / $100M-scale rounds aimed at reducing reliance on U.S. and Asian hardware.

The week also carried a blunt reminder that governance and ethics remain front-of-mind: a former startup CFO in Seattle pleaded guilty to wire fraud after diverting $3.5M to a crypto side business, and a Cincinnati startup CEO admitted to a $6.5M investor scam. Alongside more positive signals — like Atlantan restaurant-payments startup Sunday raising $21M and fintech-data security player Seismic pulling in $10M — regulators, LPs, and founders alike are reading these enforcement stories as a warning: the next cycle of venture growth will likely be accompanied by closer oversight and less tolerance for “move fast and break things” culture.

Below is your curated breakdown for the week of November 10–16, 2025, in your standard format.

Funds & Programs (largest → smallest)

• J2 launches $250M Brookhaven dual-use tech fund
  
  

• Glasswing Ventures raises oversubscribed ~$200M Fund III for AI-native and frontier tech
  
  

• NVP Capital crosses $200M in AUM with second fund backing vertical AI founders (additional legal note: NatLawReview)
  
  

• Quantum Exponential Group launches fundraising for a £100M UK quantum-technologies fund
  
  

• Germany’s FMC lands €100M as Europe pushes to cut dependence on US/Asian memory suppliers
  
  

• Vendep Capital raises €80M AI-era SaaS fund — coverage also via EU-Startups
  
  

• Rubio Impact Ventures closes over €70M for its third climate and inequality fund
  
  

• Backed VC closes €100M Fund III, marks 100th investment
  
  

• Toho (Japan) launches ~$65M corporate startup investment unit
  
  

• Bryck / Gründerfonds Ruhr / RAG-Stiftung launch €10M fund for the Ruhr region
  
  

Startup Raises (largest → smallest)

• Forterra raises $238M in Series C equity and debt funding
  
  

• Harbinger raises $160M Series C, FedEx and Thor place vehicle orders
  
  

• “Wonderful” raises $100M Series A to put AI agents on the front lines of customer service
  
  

• French memory-chip startup raises $100M for energy-saving tech
  
  

• Tenzai secures $75M seed round for AI observability and risk tooling
  
  

• NVP Capital spin-out Maybern raises $50M Series B led by Battery Ventures for private-capital “operating system”
  
  

• House Rx raises $55M Series B to modernize specialty pharmacy
  
  

• Gamma secures $68M Series B at $2.1B valuation
  
  

• Code Metal raises $36.5M Series A for AI-powered code security/engineering tools
  
  

• Varaha raises $30.5M to scale regenerative farming and carbon projects in India
  
  

• Attentive AI raises $30.5M Series B for outdoor-services automation
  
  

• Beside, an AI voice “receptionist” startup, raises $32M to serve small businesses
  
  

• U-Space (France) raises $24M for smallsat manufacturing
  
  

• Atlanta restaurant-payments startup raises $21M to help restaurants accept digital payments
  
  

• AI customer-service startup Agency (from earlier Axios list) raises $20M Series A for agentic AI
  
  

• Snow League raises $15M for ski/snow-sports gaming platform
  
  

• Seismic raises $10M to help fintechs protect customer data in crypto
  
  

• Milestone raises $10M to ensure AI “rhymes with ROI” for enterprises
  
  

• Uare.AI raises $10.3M seed for AI-driven personalization
  
  

• Swiss startup ForGIS raises €3.8M to automate industrial machines
  
  

• Vida raises $4M Series A to accelerate AI voice innovation
  
  

• Bite Data raises $3M to build AI tools for global trade-compliance teams
  
  

• Greenfi raises $2M for ESG-compliance platform
  
  

Notable / Non-Raise / Governance & Market Moves

• Former startup CFO in Seattle convicted of wire fraud for moving $3.5M of company funds into a crypto side business
  
  

• Cincinnati startup CEO pleads guilty to scamming investors out of $6.5M
  
  

• Immortality startup Eternos pivots away from “digital afterlife” to a more practical personal-AI product
  
  

• Article on AI-era sex/“adult AI” and OpenAI’s role in the next content frontier (from your Nov 12 Israeli round-up)
  
  

• Parenting reimagined: Joy’s $14M bet on AI-powered parenting support
  
  
  

This was the week late-stage venture finally looked “big” again. A pre-IPO cybersecurity giant (Armis) pulled in $435M to shore up its balance sheet ahead of the public markets, crypto crept back into the headline tier with Lava’s $200M bitcoin-backed credit line, and health/AI kept pace with Tala Health’s $100M seed-at-scale and a string of $50M–$80M SaaS and AI rounds. At the same time, managers across the U.S., Europe, Israel, and Africa stacked up new vehicles — from Section Partners’ $189M and A Capital’s $180M to Nigeria-backed Ventures Platform’s $64M first close — telling founders that Q4 money is still flowing, just much more thesis-driven. Climate/impact GPs in Europe got fresh firepower (Rubio, Balnord), the Pacific Northwest reloaded via Founders’ Co-op, and Israel’s F2 VC quietly raised another $100M seed fund, keeping the country’s earliest stage supplied even as later-stage rounds get harder. Below is the full run, in your usual format.

Funds & Programs (largest → smallest)

• Section Partners raises $189M for two funds
  
  

• A Capital Ventures raises $180M for Fund V
  
  

• MVP Ventures closes $125M Fund II, citing top-5% TVPI (companion piece: VCJ coverage)
  
  

• Armilar launches new €120M fund for Iberian deeptech/digital ventures
  
  

• F2 Venture Capital (Israel) raises $100M fourth seed fund
  
  

• Rubio Impact Ventures closes over €70M for its third climate & inequality fund (also on EU-Startups: link)
  
  

• Balnord launches €70M “Baltic frontier / dual-use tech” fund
  
  

• Nigeria backs Ventures Platform as seed fund hits $64M first close
  
  

• Founders’ Co-op (Seattle) raises $50M to back more PNW founders
  
  

• Novastar allocates $50M to back Egypt’s agriculture and climate-tech startups
  
  

• Invest-NL launches €50M “diverse manager” programme
  
  

• Saudi Arabia signals biotech ambitions with new $50M fund
  
  

• MUSC (US) launches two new venture funds for health/life sciences
  
  

• EU fund HenQ unveils €67.6M vehicle for “odd ones out” founders
  
  

• A-tier US university system highlights $750M federal budget allocation to plug early-stage funding gaps (Canada)
  
  

• MVP Ventures performance follow-up / top-5% note
  
  

Startup Raises (largest → smallest)

• Armis raises $435M pre-IPO round at $6.1B valuation (Goldman Sachs Growth)
  
  

• Lava raises $200M for bitcoin-backed line of credit, introduces 5% borrow rate
  
  

• Tala Health raises $100M “seed” round to build AI-era healthcare platform
  
  

• Silicon Valley chip startup secures $100M to challenge industry giants
  
  

• Reevo raises $80M to scale AI-driven content/personalization platform
  
  

• Giga raises $61M for voice-AI/customer-service platform (also covered by Fortune: “voice-AI giga raise”)
  
  

• Comind raises $60M Series A for healthcare/clinical AI
  
  

• EVERY (alt-protein) raises $55M ahead of nationwide rollout / egg-supply stabilization and companion: AgFunder coverage
  
  

• Sovato raises $41M Series B to advance remote robotic surgery platform
  
  

• Procurement Sciences AI secures $30M Series B (Tower Research Capital) and firm note: Tower Research
  
  

• Truffle Security raises $25M Series B to secure secrets for nonhuman identities
  
  

• Stripe, Paradigm, Tempo and Commonware make $25M strategic investment (infra/fintech)
  
  

• Wabi raises $20M to bring AI coaching to professionals (Sarah Guo participates)
  
  

• DealMaker raises $20M to advance retail capital-raising platform
  
  

• Octonomy raises $20M seed to advance agentic AI for complex enterprise workflows
  
  

• FOMO (crypto trading app) raises $17M Series A in rare Benchmark bet
  
  

• Sunflower Labs raises $16M Series B, wins FAA approval for autonomous security drones
  
  

• Mine Vision Systems raises $12.5M Series A to improve underground mining decisions
  
  

• Parable raises $11M seed for AI-driven manufacturing / ops analytics
  
  

• Portal26 nabs $9M for AI-application governance
  
  

• Upward raises $8M in seed funding
  
  

• LambdaVision raises $7M seed for space-based blindness treatment manufacturing
  
  

• Cactus raises $7M seed (Wellington Management)
  
  

• Liquid raises $7.6M seed for fintech/workflow platform
  
  

• Hearvana (Seattle) raises $6M for AI-powered sound enhancement
  
  

• Ruli.ai (in-house legal ops) raises $6M seed
  
  

• The Beans secures $5.4M seed to support the caring workforce
  
  

• Zynk (India fintech) raises $5M from Hivemind and others
  
  

• Adaptive-gripper startup Adaptronics raises €3.15M
  
  

• Kabilio (Spain) raises €4M to scale AI tools for accounting firms
  
  

• VaultN secures $3.5M from Sony Innovation Fund and London Venture Partners
  
  

• Gitlaw launches AI legal-document agent, announces $3M pre-seed
  
  

• BabyOrgano (ayurvedic babycare) raises $2.2M
  
  

• Sitelabs raises $2M seed
  
  

Notable / Non-raise / M&A / Market Moves

• Canaan secures $72M investment (crypto-mining hardware)
  
  

• ID5 acquires TrueData to create broader digital-ad identity solution
  
  

• Tailwind 2.0 Acquisition Corp prices $150M IPO
  
  

• Stripe/Paradigm/Tempo/Commonware $25M strategic noted above — also relevant here
  
  

• Carbyne acquired by US public-safety firm for $625M
  
  

• Metsera draws $10B big-pharma bidding war despite no revenue/products
  
  

• Porsche’s Atera Water startup initiative
  
  

• FT: global VC watch / macro piece
  
  

• The Information: Decagon in talks at $4B valuation — rumour stage
  
  

• Fortune: Sequoia Capital’s new stewards / leadership update
  
  

Global venture markets ended October with sharp precision, defined less by hype and more by strategic conviction. This week, capital allocation followed three distinct lines: AI scale-ups commanding billion-dollar valuations, emerging-market funds deepening local ecosystems, and new frontiers in sustainability and infrastructure. The tone of the market is unmistakable — investors are deploying selectively but confidently, with checks aimed at defensible technology, real-world integration, and measurable impact.

Leading the headlines was YZi Labs, the new fund from Changpeng Zhao, unveiling a $1 billion developer fund for the BNB Chain ecosystem. It marks crypto’s biggest capital commitment in months and hints at a shift from speculative tokens to infrastructure building. Meanwhile, across Europe, Synthesia’s $200 million raise at a $4 billion valuation confirmed that applied AI remains the most resilient asset class in late 2025.

In North America, the deep-tech story returned with Substrate’s $100 million raise to challenge ASML’s dominance in lithography. Health and public-sector innovation re-entered the spotlight via Kaizen’s $21 million NEA-led round for govtech software, and UnifyApps’s $50 million round for enterprise AI integration.

In parallel, smaller yet telling rounds from Lula Commerce ($8 million) and Wild Moose ($7 million) reflected investor appetite for retail digitization and reliability tools. In climate and materials, Uluu’s $13.6 million bioplastic fundraising and Arbor’s $55 million clean-energy raise showed sustainability remains an attractive hedge.

Meanwhile, across Africa and MENA, Sehatech (Egypt, $1.1 million) and Nanovate ($1 million, Arabic-AI) illustrated how localized tech ecosystems are scaling with regional capital rather than waiting for Western cycles.

On the fund side, the pipeline expanded globally: Burnt Island Ventures’ $50 million water-tech fund, Calm/Storm Ventures’ $30 million vehicle, and the UK’s Start Up Loans programme £30 million initiative for female founders all landed within the week. From Maple Bridge Ventures’ $10 million immigrant-founder fund in Canada to Square Enix + CRIT Ventures’ Korea Content Capital, investors are increasingly targeting niche, under-served segments rather than competing for the same Silicon Valley pipelines.

Rounding out the news cycle were acquisitions and cultural cross-overs: Modern Treasury’s $40 million all-stock purchase of Beam; Homecourt (Courteney Cox brand) x Cult Capital’s beauty-fragrance funding; and Wired’s new Oobah Butler documentary interview, which blurred the line between media, authenticity, and storytelling as capital. Sequoia Capital’s partner reshuffle added a meta-layer to the week with candid remarks on how the industry is evolving.

All told, the final week of October closed with roughly $2 billion in disclosed global deal-flow and a tone that felt neither frothy nor fearful. The centre of gravity is shifting — from quick exits to purposeful building, from undifferentiated hype to measurable progress. As Q4 2025 deepens, the winners won’t simply be the biggest rounds, but those defining clarity of mission and durability of model.

Funds & Programs (largest → smallest)

• YZi Labs (founded by former Binance CEO CZ) announces $1B fund for BNB Chain developers (YZi Labs)
  
  

• HighVista Strategies raises $270M venture capital fund
  
  

• India Quotient closes $129M Fund V for pre-seed and seed in India
  
  

• Peregrine Energy Solutions secures $130M in new capital (growth platform for energy & infra)
  
  

• Utica Capital launches ₦20B (~$12–13 M) venture fund to transform Nollywood financing
  
  

• Burnt Island Ventures closes $50M water-tech fund
  
  

• Calm/Storm Ventures launches $30M healthtech fund
  
  

• UK Start Up Loans programme backs female founders in East Midlands with ~£30M
  
  

• Maple Bridge Ventures raises $10M fund to back immigrant founders
  
  

• Vancouver firm launches $10M pet-care startups fund
  
  

• Square Enix + CRIT Ventures unveil “Korea Content Capital” (amount not disclosed)
  
  

• SaaS Capital raises new tech investment fund (amount not disclosed)
  
  

Startup Raises (largest → smallest)

• AI video startup Synthesia valued at $4B after $200M raise (Forbes)
  
  

• AI startup Periodic Labs sparked a $300M VC frenzy (earlier in the week, still in window)
  
  

• “ChatGPT for doctors” startup raises $200M led by Blackstone and Coatue
  
  

• US startup Substrate raises $100M to develop lithography tools to challenge ASML
  
  

• Arbor raises $55M to deploy zero-emission turbines
  
  

• AI startup UnifyApps raises $50M for global expansion
  
  

• Pave Bank lands $39M round to build a programmable bank out of Singapore
  
  

• NEA leads $21M investment in Kaizen to modernize public services
  
  

• Tract raises €18.6M Series A for agrifood supply-chain intelligence
  
  

• Fintech Jupiter raises $15M at flat $600M valuation
  
  

• Seaweed/bioplastic startup Uluu attracts $13.6M to scale plastic alternative
  
  

• Wonder Studios (AI for Hollywood) raises $12M seed
  
  

• Lula Commerce raises $8M Series A for next-gen digital retail
  
  

• Wild Moose (site reliability engineering) launches with $7M funding
  
  

• Pieverse secures $7M strategic round led by Animoca Brands and UOB Ventures
  
  

• Builders (NL) raises €3M to back in-house venture studio products
  
  

• CatalyX Space raises $5.4M seed to build in-orbit servicing & debris tech
  
  

• Syntracts raises $5.3M seed round
  
  

• Hydgen raises $5M to deliver industrial-scale green hydrogen on-site and on-demand
  
  

• Sehatech (Egypt) raises $1.1M insurtech seed
  
  

• Nanovate (Arabic AI) raises $1M pre-seed
  
  

Notable / No Amount Disclosed (or non-raise)

• Australian seaweed startup Uluu now valued at $100M as it scales plastic-alternative materials
  
  

• Homecourt (Courteney Cox’s beauty & fragrance brand) gets funding from Cult Capital
  
  

• Square Enix/CRIT Ventures content fund for Korea’s creator ecosystem
  
  

• Applied Ventures invests in robotics no-code player Augmentus (amount not disclosed)
  
  

• ChatRank AI startup story (Tampa) — early-stage, amount not disclosed
  
  

• Optimo Capital (Prashant Pitti) closes Series A round — amount undisclosed
  
  

• Modern Treasury buys Beam stablecoin startup for $40M all-stock
  
  

• Arthur Hayes aims to raise $250M to acquire distressed crypto firms
  
  

• Oobah Butler documentary interview (culture/media)
  
  

• Sequoia’s Roelof Botha on the state of VC and the firm’s partner reshuffle
  
  

• Business Insider’s “Rising Stars of Venture Capital” nominations open
  
  

Global venture markets entered late October in full stride, with megadeals cutting across AI, biotech, and fintech. A new frenzy surrounded Periodic Labs, the breakout AI science start-up that raised $300 million from top-tier backers including OpenAI and Google Brain alumni—fueling the week’s $2.4 billion total disclosed funding. Healthtech momentum surged as Electra secured $183 million for next-gen therapeutics, while India Quotient closed a $129 million fund focused on pre-seed and seed innovation across South Asia. Elsewhere, UnifyApps’ $50 million raise and Clerq’s $21 million Series A showcased enterprise AI’s staying power, while new fund launches from Calm/Storm Ventures and Saasmatic Capital underscored investors’ appetite for productivity tech and health innovation. Despite global uncertainties, capital continued flowing into climate, digital payments, and creative AI—signaling that Q4 may close as one of 2025’s strongest periods for venture deployment.

Funds & Programs (largest → smallest)

• HighVista Strategies raises $270M venture capital fund
  
  

• India Quotient closes $129M Fund V for pre-seed & seed in India
  
  

• Burnt Island Ventures closes $50M fund for water tech
  
  

• Calm/Storm Ventures launches $30M healthtech fund
  
  

• UK Start Up Loans programme backs female founders with ~£30M
  
  

• Vancouver firm launches $10M pet-care startup fund
  
  

• Square Enix & CRIT Ventures debut “Korea Content Capital” fund (amount n/a)
  
  

• SaaS Capital raises new fund (amount n/a)

Startup Raises (largest → smallest)

• Periodic Labs ignites $300M AI megaround frenzy
  
  

• “ChatGPT for doctors” startup raises $200M co-led by Blackstone & Coatue
  
  

• Electra joins megaround rally with $183M Series C
  
  

• Peregrine Energy Solutions secures $130M in new capital
  
  

• UnifyApps raises $50M to scale AI integrations
  
  

• Arbor raises $55M to deploy zero-emission turbines
  
  

• Pave Bank lands $39M funding round
  
  

• Keycard reels in $38M for AI-agent security
  
  

• Immaterial secures €15.4M for industrial decarbonisation systems
  
  

• Riff raises $16M Series A (vibe coding)
  
  

• One more: Tract raises €18.6M Series A for agrifood supply-chain intelligence
  
  

• Vermeer (defense tech) $10M Series A (Aerox participates)
  
  

• RoClub secures $11.7M Series A
  
  

• Kure Cells raises $10M pre-Series A (Wa’ed Ventures leads)
  
  

• Bluwhale raises $10M Series A (AI agents + blockchain)
  
  

• StraitsX secures $10M from UQPay for Asia stablecoin expansion
  
  

• Clerq raises $21M for high-ticket payments (alt: BusinessWire)
  
  

• Wonder Dynamics (Wonder Studios) raises $12M seed
  
  

• Pieverse secures $7M strategic round
  
  

• Syntracts raises $5.3M seed
  
  

• Janta Power closes $5.5M seed
  
  

• Underwater energy storage startup raises $8M
  
  

• Hulo raises $2.3M for AI-driven water-leak detection
  
  

• Lette AI raises $1.4M pre-seed (property management)
  
  

• Gladys raises $1.5M seed (healthcare)
  
  

• Aternium receives $1M state investment (hydrogen)

Notable Others 

• Modern Treasury acquires Beam (stablecoin co.) for $40M in all-stock deal
  
  

• BitMEX co-founder Arthur Hayes seeks $250M to acquire crypto firms
  
  

• Pave Bank funding coverage (DealStreetAsia)
  
  

• Cybrid stablecoin funding (coverage)
  
  

• Bunni DeFi exchange shuts down after $8.4M hack
  
  

• Air Punjab seeks $35M to launch operations (aviation)
  
  

• Findi to acquire climate-tech Sphere for up to $2.93M (M&A)
  
  

• Ohio Startup Network looks to raise $1M to support ecosystem
  
  

• Wired: Oobah Butler interview (media)

The third week of October 2025 brought a surge of global venture capital activity, signaling renewed confidence in the innovation economy despite macroeconomic uncertainty. From record-breaking biotech rounds like Bexorg’s $425 million and Tubulis’ $361 million to headline-making fintech deals such as Upgrade’s $165 million Series G, investors continued to double down on transformative technologies. The AI boom showed no signs of slowing, with major raises from Reducto, Viven, and Counsel Health, alongside strategic moves like Stripe-backed Tempo’s reported $5 billion valuation and Maximum Frequency Ventures’ $50 million crypto fund. Meanwhile, emerging markets made bold moves with Kyiv’s €50 million tech ecosystem push and Westpac’s $100 million SME fund, underscoring how innovation capital is increasingly global in scope. As venture firms diversify across infrastructure, healthcare, climate, and financial services, the momentum points to a fourth-quarter deal landscape poised to be one of the most active in years.

Funds & Programs (largest → smallest)

• SPEX Capital launches £100M healthtech fund
  
  

• Westpac NZ announces $100M commitment to support small business owners
  
  

• Odyssey Ventures unveils $75M fund bridging Europe–US valuation gap
  
  

• Maximum Frequency Ventures raises $50M crypto fund led by Aptos’ Mo Shaikh
  
  

• Kyiv to develop tech ecosystem with €50M startup fund
  
  

• Theia announces $30M first close of Indian tech fund
  
  

• Jukebox launches inaugural $15M early-stage venture fund
  
  

• Xcellerant Ventures launches new interval fund
  
  

• Maia Ventures unveils new agrifoodtech venture platform

Startup Raises (largest → smallest)

• Bexorg nets $425M for neuroscience platform
  
  

• Tubulis secures €361M to advance next-gen ADCs
  
  

• Vantaca lands $300M+ minority investment at $1.25B valuation (Axios Pro list — Vantaca item)
  
  

• Tubulis raises $308M Series C to expand ADC pipeline
  
  

• Upgrade raises $165M Series G at reported $7.3B valuation
  
  

• Adcytherix raises €105M Series A for ADC programs
  
  

• Dreamdata closes $55M Series B for B2B marketing analytics
  
  

• Reducto raises $75M Series B for AI documents (Axios Pro cites Reducto $75M)
  
  

• Campfire raises $65M Series B for finance ERP (Axios Pro cites Campfire $65M)
  
  

• Starship Technologies raises $50M Series C for autonomous delivery (Axios Pro cites Starship $50M)
  
  

• Prisma Photonics raises $30M for infrastructure monitoring (Axios Pro cites Prisma $30M)
  
  

• OneImaging raises $38M to expand radiology platform
  
  

• Caracol raises $40M Series B for robotic manufacturing
  
  

• Nova Credit raises $35M Series D
  
  

• Viven (Eightfold co-founders) raises $35M seed for AI digital twins
  
  

• Counsel Health raises $25M for AI-augmented healthcare service
  
  

• Flow Engineering raises $23M Series A led by Sequoia
  
  

• Second Nature secures $22M Series B to power AI-ready sales & service
  
  

• Instanda raises $20M to drive global expansion
  
  

• MatrixSpace raises $20M Series B for counter-drone sensing
  
  

• BridGene Biosciences raises $28M Series B
  
  

• Conceal closes $26M Series B (cybersecurity)
  
  

• Aboon raises $17.5M seed (SaaS)
  
  

• Paddle founder’s Clove raises $14M for new fintech
  
  

• WellTheory raises $14M for autoimmune care platform
  
  

• Ascribe Bio closes $12M Series A for biofungicide rollout
  
  

• NXLite raises $9.2M Series A
  
  

• Hootl raises $6.5M Series A for insurance processing AI
  
  

• Matters.AI raises $6.25M across pre-seed and seed
  
  

• WOZ raises $6M seed to build an AI app factory
  
  

• Ryder raises $3.2M seed to replace seed phrases with TapSafe
  
  

• Class-3 raises $3.5M to model climate risk for the built environment
  
  

• Good Heat raises $2M to decarbonize industrial energy
  
  

• Nila raises $2.4M pre-seed
  
  

• Intelo AI closes $2M to transform retail collaboration
  
  

• Jabbr AI raises €4.3M to bring transparency to combat sports
  
  

• Titan4 lands €4M to scale Earth intelligence via satellite data
  
  

• Space Quarters raises $5M seed for in-space infrastructure

Notable / No Amount Disclosed (or non-raise)

• Global VC investment rises in Q3 ’25 — KPMG Venture Pulse
  
  

• Stripe-backed Tempo reportedly valued at $5B in Series A
  
  

• AI meets PR: GRIN founders launch new venture
  
  

• Kansas City’s Q3 venture roundup (PitchBook/Invent terms)
  
  

• eMerge Americas expands localization to Tampa Bay
  
  

• Milwaukee & LA investment firms acquire shop centers (PE real estate)
  
  

• GTCR makes $200M strategic minority investment in Solmetex (PE)
  
  

• Keros Therapeutics plans $375M return of excess capital
  
  

• BioGenerator explores private investment studios (ecosystem)
  
  

• Routefusion raises Series A (amount not disclosed)
  
  

• IGrow/MAIA Ventures roundup (ecosystem updates)
  
  

• Axios Pro: weekly deal sheet & macro (for reference)
  
  

AI kept setting the pace as global VC funding accelerated into Q4. A fresh crop of sector funds launched across insurance, quantum, and agentic AI, while growth rounds clustered around applied AI, data infrastructure, digital health, and fintech—from autonomous vessels and legal AI to storage, tokenization, and patient navigation. Here’s the link-packed wrap you can drop straight into the newsletter.

• Macro & Trendlines
  AI drives a 38% surge in global VC funding in Q3 to $97B
  https://siliconangle.com/2025/10/06/ai-drives-38-surge-global-venture-capital-funding-third-quarter-hits-97b/

• Funds & Programs
  Radical Ventures closes $650M early-stage AI fund
  https://www.theglobeandmail.com/business/article-radical-ventures-650-million-early-stage-fund-artificial-intelligence/

• Crystal Venture Partners launches insurance-AI focused VC in New York
  https://fortune.com/2025/10/06/crystal-venture-partners-insurance-ai-venture-capital-new-york/

• Energy Impact Partners hits $1.36B final close (re-ups drive the round)
  https://www.venturecapitaljournal.com/corporate-re-ups-help-energy-impact-partners-to-1-36bn-final-close/

• AI2 Incubator unveils $80M fund to back real-world AI in Seattle and beyond
  https://www.geekwire.com/2025/ai2-incubator-launches-80m-fund-as-it-doubles-down-on-real-world-ai-applications-in-seattle-and-beyond/

• Theia Ventures announces first close of $30M fund
  https://www.entrepreneur.com/en-in/news-and-trends/theia-ventures-announces-first-close-of-usd-30-million-fund/498133

• ARK Venture Fund takes $10M stake in tokenization firm Securitize
  https://coincentral.com/cathie-woods-ark-venture-fund-takes-10-million-stake-in-tokenization-firm-securitize/

• Pawsible Ventures launches $10M fund + venture studio (pet health)
  https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/pawsible-ventures-launches-10m-fund-and-venture-studio-to-build-the-n-1080140

• NP-Hard Ventures launches €25M Fund II (EU)
  https://siliconcanals.com/np-hard-ventures-launches-e25m-fund-ii/

• Mitsui Fudosan launches two CVC funds to invest $130M
  https://globalventuring.com/corporate/asia/real-estate-company-mitsui-fudosan-launches-two-cvc-funds-to-invest-130m/

• Wave Function Ventures raises $15M deep-tech Fund I
  https://www.venturecapitaljournal.com/deep-tech-vc-wave-function-ventures-raises-15m-for-fund-i/

• Startup Raises (largest → smaller)
  HavocAI raises $85M for autonomous vessels (Lockheed Martin & In-Q-Tel in round)
  https://fortune.com/2025/10/09/havocai-85-million-autonomous-vessels-funding/
  https://www.citybiz.co/article/757624/lockheed-martin-and-in-q-tel-join-85-million-round-in-havocai/

• Spellbook (legal AI) raises $50M Series B
  https://www.thesaasnews.com/news/spellbook-raises-50-million-in-series-b

• Yendo raises $50M Series B (fintech)
  https://www.bizjournals.com/dallas/news/2025/10/09/yendo-raises-50-million-in-series-b-funding.html
  https://www.fintechfutures.com/venture-capital-funding/yendo-raises-50m-series-b-for-digital-bank-expansion/

• Heidi Health raises $65M Series B led by Point72
  https://techcrunch.com/2025/10/05/heidi-health-raises-65m-series-b-led-by-steve-cohens-point72/

• Nilo launches with $101M for autoimmune drugs targeting brain–body circuits
  https://medcitynews.com/2025/10/startup-nilo-launches-with-101m-for-autoimmune-drugs-that-target-brain-body-circuits/

• Hipp Health raises $6.2M seed (women’s & pediatric health)
  https://www.finsmes.com/2025/10/hipp-health-raises-6-2m-in-seed-funding.html

• PeakaIO (AI storage) raises $6.8M seed
  https://www.datacenterdynamics.com/en/news/ai-storage-startup-peakaio-raises-68m-in-seed-funding/
  https://quantumzeitgeist.com/peakaio-secures-over-6-8m-in-seed-round-funding/

• Azuro (proptech) raises €5M for a new ownership/travel model
  https://www.eu-startups.com/2025/10/swiss-proptech-startup-azuro-raises-e5-million-to-offer-a-new-model-for-property-ownership-and-travel/

• Everyset raises $9M (back-office for productions)
  https://www.thesaasnews.com/news/everyset-raises-9-million-in-funding

• Astrus raises $8M seed from Khosla Ventures (AI security)
  https://www.fasken.com/en/experience/2025/10/astrus-receives-us8-million-in-seed-funding-from-khosla-ventures

• Civilized AI raises $2M (NOLA)
  https://bizneworleans.com/benson-capital-leads-2m-investment-in-civilized-ai/

• Zingage raises $12.5M seed (SaaS)
  https://www.thesaasnews.com/news/zingage-raises-12-5-million-in-seed-round

• Lemon raises $20M Series B (crypto fintech)
  https://www.fintechfutures.com/venture-capital-funding/crypto-fintech-lemon-raises-20m-series-b

• Coinflow (stablecoin/payments) funding round
  https://fortune.com/crypto/2025/10/08/stablecoin-coinflow-startup-funding-round-pantera-stripe-payments/

• Resourcly (Germany; manufacturing inventory) raises €2.7M
  https://www.eu-startups.com/2025/10/german-startup-and-former-euss-pitch-winner-resourcly-secures-e2-7-million-to-cut-manufacturing-inventory-inefficiencies/

• Tuidi (Italy; AI retail ops) raises €3M
  https://bebeez.eu/2025/10/07/italys-tuidi-secures-e3-million-to-optimise-grocery-retail-through-ai-driven-store-management/

• Deva11y (accessibility tooling) raises $2M pre-seed
  https://www.siliconrepublic.com/start-ups/deva11y-2m-pre-seed-raise-2025-us-jobs

• Fellos (Netherlands; men’s health telemedicine) raises €2M
  https://www.eu-startups.com/2025/10/dutch-mens-health-startup-fellos-lands-e2-million-to-tackle-sensitive-issues-like-ed-and-pe-through-telehealth/

• Hydrospark (advanced hydrogen tech) gets €2M strategic investment
  https://www.gasworld.com/story/siad-and-brembo-invest-e2m-in-advanced-hydrogen-tech-start-up-hydrospark/2166197.article/

• Katana raises €14M Series B (industrial/manufacturing)
  https://bebeez.eu/2025/10/07/katana-raises-e14-million-series-b/

• Routefusion raises Series A (cross-border fintech)
  https://news.crunchbase.com/venture/fintech-startup-routefusion-raises-seriesa/

• HiOctave raises $15M (SaaS)
  https://www.thesaasnews.com/news/hioctave-raises-15-million-in-funding

• Playdigious sold to Griffin Gaming Partners for $122M (M&A)
  https://www.gamesindustry.biz/fragbite-sells-playdigious-to-venture-fund-griffin-gaming-partners-for-122m

• Notes & Extras
  Winklevoss-led $59M investment into a Massachusetts biotech
  https://www.nbcboston.com/boston-business-journal/mass-biotech-company-gets-59m-investment-led-by-winklevoss-twins/3821455/

• The Information: Vercel starts a venture fund (Ben Horowitz hires Jensen)
  https://www.theinformation.com/articles/ben-horowitz-hires-jensen-vercel-starts-venture-fund

• Wired: “Prime Intellect” and the US DeepSeek moment (context)
  https://www.wired.com/story/prime-intellect-startup-us-deepseek-moment/

Capital kept surging this week, led by Europe and a wave of quantum/A.I. firepower. The EIT approved €978M for innovation and skills while new quantum vehicles debuted—$350M (Lozman), $300M (55 North) and $300M (“Real Science AI” from Periodic Labs)—alongside Notion Capital’s €130M growth fund and Concept Ventures’ £88M pre-seed. On the company side, Vercel raised $300M (≈$9.3B valuation), biotech notched big rounds (Star Therapeutics $125M, Cartography Biosciences $67M), and applied AI scaled across sectors (Einride $100M for autonomy, PostHog $75M, Praxipal $67M, Oneleet $33M, Boldr $32M). MENA capital deepened with multiple $50M funds plus $20M in Uzbekistan, and smaller EU deals—from cybersecurity to clean energy—rounded out a week where European tech funding jumped 163% to €8.4B, signaling broad-based risk-on momentum across AI infra, healthcare, and climate. - Hasan Tarek

Funds & Programs (largest → smallest)

1. EIT approves €978M for European innovation & skills
   https://tech.eu/2025/10/03/eit-governing-board-approves-eur978m-for-european-innovation-and-skills/
   
   

2. Ex-corporate investor Lozman launches $350M quantum VC fund
   https://globalventuring.com/corporate/people/ex-corporate-investor-lozman-launches-350m-quantum-vc-fund/
   
   

3. 55 North announces first close for $300M quantum technology fund
   https://venturebeat.com/business/55-north-announces-first-close-for-record-300m-quantum-technology-fund
   
   

4. Periodic Labs launches $300M “Real Science AI” vehicle
   https://observer.com/2025/10/periodic-labs-launches-300m-real-science-ai/
   
   

5. Notion Capital closes €130M Growth Opportunities III
   https://tech.eu/2025/09/30/notion-capital-closes-130m-growth-opportunities-iii-fund-to-back-category-defining-european-scaleups/
   
   

6. Concept Ventures closes £88M Fund II (largest dedicated pre-seed in Europe)
   https://sifted.eu/articles/concept-ventures-raises-pre-seed-fund-88m
   
   

7. Wamda/Iliad Partners hits second close on $50M MENA fund
   https://www.wamda.com/2025/09/iliad-partners-completes-second-close-50-million-fund-targeting-mena-startups
   
   

8. $50M fund launched for MENA tech startups & SMEs
   https://www.agbi.com/banking-finance/2025/10/50m-fund-launched-for-mena-tech-startups-and-smes/
   
   

9. DFF Ventures launches $50M vertical-AI & recommerce fund
   https://techfundingnews.com/dff-ventures-50m-fund-vertical-ai-recommerce/
   
   

10. Creator Fund raises €41M to back PhD founders across Europe
    https://tech.eu/2025/10/02/creator-fund-raises-41m-to-back-the-best-phd-founders-across-european-universities/
    
    

11. Domino Ventures launches $20M fund in Uzbekistan
    https://qazinform.com/news/domino-ventures-launches-20-million-venture-fund-in-uzbekistan-35de75
    
    

12. Lisk launches $15M Web3 fund
    https://www.prnewswire.com/news-releases/lisk-launches-15m-venture-fund-to-back-founders-powering-web3s-fastest-growing-markets-302574941.html
    
    

13. Wave Function Ventures raises $15M deep-tech fund
    https://techcrunch.com/2025/10/03/new-deep-tech-fund-wave-function-ventures-raises-15-million/
    
    

14. Indiana IEDC approves $10M federal funding to launch Indianapolis venture studio
    https://www.insideindianabusiness.com/articles/iedc-approves-10m-in-federal-funding-to-launch-indianapolis-venture-studio
    
    

Startup Raises (largest → smallest)

1. Vercel raises $300M (valuation ~$9.3B)
   https://www.reuters.com/business/ai-coding-startup-vercel-raises-300-million-valued-93-billion-2025-09-30/
   
   

2. Star Therapeutics collects $125M to advance bleeding-disorder program
   https://www.fiercebiotech.com/biotech/star-therapeutics-collects-shiny-125m-funding-boost-push-bleeding-disorder-prospect-orbit
   
   

3. Einride raises $100M for autonomous trucking
   https://techcrunch.com/2025/10/01/self-driving-trucks-startup-einride-raises-100m/
   
   

4. Yu Galaxy secures $90M, surpassing $500M AUM
   https://www.morningstar.com/news/business-wire/20251001003757/yu-galaxy-secures-90m-raise-to-surpass-500m-aum-redefining-how-venture-capital-invests-in-global-challenges
   
   

5. Swedish Modal raises $87M Series B; hits unicorn valuation
   https://bebeez.eu/2025/09/30/swedish-modal-raises-87m-series-b-hits-unicorn-valuation-with-ai-native-cloud-platform/
   
   

6. Assort Health raises $76M Series B (voice AI in healthcare)
   https://fortune.com/2025/09/30/exclusive-assort-health-raises-76-million-series-b-to-build-on-voice-ai-healthcare-platform/
   
   

7. PostHog becomes unicorn with $75M round
   https://www.entrepreneur.com/en-in/news-and-trends/posthog-becomes-unicorn-with-usd-75-mn-funding-led-by-peak/497732
   
   

8. Cartography Biosciences raises $67M for colon cancer programs
   https://www.axios.com/pro/biotech-deals/2025/10/02/cartography-biosciences-67m-colon-cancer
   
   

9. Praxipal lands $67M to build AI workforce for healthcare front desks
   https://tech.eu/2025/10/02/praxipal-lands-67m-to-build-the-ai-workforce-for-healthcare-front-desks/

10. UK gov awards £44M to next-gen aviation & drone projects (grant)
    https://tech.eu/2025/09/30/uk-government-awards-ps44-million-to-next-gen-aviation-and-drone-tech-projects/
    
    

11. Boldr raises $32M to turn homes into residential power plants
    https://tech.eu/2025/09/30/boldr-raises-32m-to-turn-homes-into-residential-power-plants/
    
    

12. Nobacz (Cambridge spinout) bags £48M for animal wound-care tech
    https://tech.eu/2025/09/30/cambridge-spinout-nobacz-bags-ps48m-to-scale-sustainable-wound-care-tech-for-animals/
    
    

13. Thought Machine raises £45M as losses increase
    https://tech.eu/2025/10/02/thought-machine-raises-ps45m-as-losses-increase/
    
    

14. Vibe.co (French adtech) raises €42M for AI-targeted TV ads
    https://bebeez.eu/2025/09/30/french-adtech-startup-vibe-co-raises-e42-million-to-bring-ai-powered-hyper-targeted-advertising-to-tv/
    
    

15. arqh raises $38M to power AI in logistics
    https://tech.eu/2025/09/30/arqh-brings-in-38m-to-power-ai-in-the-logistics-industry/
    
    

16. Oneleet lands $33M Series A (cybersecurity)
    https://tech.eu/2025/10/02/oneleet-lands-33m-series-a-from-dawn-capital/
    
    

17. viboo raises €33M (Swiss; market entry to Germany)
    https://tech.eu/2025/10/01/swiss-based-viboo-raises-eur33m-for-german-market-entry/
    
    

18. Cypher Games closes $30M Series A (Raine Group & Play Ventures)
    https://www.citybiz.co/article/754171/cypher-games-closes-30-million-series-a-funding-round-led-by-the-raine-group-and-play-ventures/
    
    

19. Leyden Labs nets $30M
    https://siliconcanals.com/leyden-labs-nets-30m/
    
    

20. Commcrete (tactical satcom) secures ~$30M** new funding**
    https://www.satellitetoday.com/government-military/2025/09/30/tactical-satcom-company-commcrete-secures-close-to-30m-in-new-funding/
    
    

21. Simple (weight-loss app) raises $35M Series B led by Hartbeat Ventures
    https://techcrunch.com/2025/10/01/kevin-harts-vc-firm-leads-35m-series-b-for-weight-loss-app-simple/
    
    

22. Telegraph Ventures (funding startups) – $35M vehicle
    https://betakit.com/telegraph-ventures-secures-35-million-to-back-enterprise-ai-startups-in-quebec/
    (VC vehicle, but leaving here since it targets specific startups—move to Funds if you prefer.)
    
    

23. Light (AI accounting) raises $30M Series A
    https://www.fintechfutures.com/venture-capital-funding/ai-accounting-start-up-light-targets-us-expansion-with-30m-series-a
    
    

24. Qovery raises $13M to redefine DevOps automation
    https://tech.eu/2025/09/30/qovery-raises-13m-to-redefine-devops-automation/
    
    

25. Serenis follow-on raises $12M (Angelini Ventures)
    https://www.globenewswire.com/news-release/2025/10/03/3160810/0/en/Angelini-Ventures-Leads-12-Million-Follow-On-Investment-in-Serenis-a-Fast-Growing-Digital-Mental-and-Physical-Health-Company.html
    
    

26. Datawizz raises $12.5M to cut AI costs
    https://siliconangle.com/2025/09/30/datawizz-raises-12-5m-cut-ai-costs-routing-smaller-smarter-models/
    
    

27. Neura Health raises $11M Series ___
    https://www.crainsnewyork.com/health-pulse/neura-health-raises-11m-series
    
    

28. Koda Health – Series A (amount n/a in source)
    https://houston.innovationmap.com/koda-health-series-a-2674144997.html
    
    

29. Reveni raises €7.5M Series A (e-commerce logistics)
    https://www.finsmes.com/2025/09/reveni-raises-e7-5m-in-series-a-funding.html
    
    

30. Chip (wealth app) scores £6M
    https://www.finextra.com/newsarticle/46704/wealth-app-chip-scores-6m-investment-from-channel-4-vc-arm
    
    

31. The Plug raises $5M
    https://www.finsmes.com/2025/10/the-plug-raises-5m-in-funding.html
    
    

32. myedspace secures £15M
    https://tech.eu/2025/09/29/myedspace-secures-15m-to-expand-world-class-education/
    
    

33. Fan3 raises $5M (ticketing)
    https://tech.eu/2025/10/02/fan3-raises-5-million-from-improbable-to-fix-broken-ticketing/

34. Gene-therapy startup launches with $11M to tackle eye disease of aging
    https://endpoints.news/gene-therapy-startup-launches-with-11m-to-tackle-aging-disease-of-the-eye/
    
    

35. SolarSteam attracts €4.9M seed (Bulgaria-founded)
    https://seenews.com/news/bulgarian-founded-solarsteam-attracts-4-9-mln-euro-in-seed-funding-1282442
    
    

36. Optimuse raises €4M (smarter, greener building design)
    https://tech.eu/2025/10/01/optimuse-raises-eur4m-to-make-building-design-smarter-cheaper-and-greener/
    
    

37. Clarifeye raises €4M (expert knowledge → AI agents)
    https://tech.eu/2025/10/01/clarifeye-raises-eur4m-to-transform-expert-knowledge-into-scalable-ai-agents/
    
    

38. OpusFlow raises $3.8M
    https://www.thesaasnews.com/news/opusflow-raises-3-8-million-in-funding
    
    

39. Mamaya Health secures $3M (mental wellness)
    https://www.nashvillepost.com/business/health_care/mental-wellness-startup-mamaya-health-secures-3m-in-first-round-funding/article_61fe91ca-3d2a-4ba4-892c-863ed1e10d65.html
    
    

40. HySun (clean hydrogen) secures €3M
    https://fuelcellsworks.com/2025/10/03/clean-energy/innoenergy-backed-hysun-secures-3-million-to-revolutionise-green-hydrogen-production
    
    

41. mokn (cybersecurity) raises €2.6M (kept one link; others removed)
    https://tech.eu/2025/10/03/french-cybersecurity-startup-mokn-raises-2-6-million-to-combat-credential-theft/
    
    

42. Emblematic attracts $2M (AI accounting for mid-market)
    https://tech.eu/2025/10/02/emblematic-attracts-2m-to-automate-mid-market-accounting-with-ai-agents/
    
    

43. SeaBeLife raises €2M (biotech)
    https://tech.eu/2025/10/01/french-biotech-seabelife-raises-2m-to-treat-liver-and-eye-diseases/
    
    

44. Augmented Industries raises €4.5M pre-seed
    https://tech.eu/2025/09/30/augmented-industries-raises-eur45m-pre-seed-for-faster-ai-guided-workflows/
    
    

45. Flizpay (mobile payments) collects €1M pre-seed
    https://tech.eu/2025/09/30/german-mobile-payments-startup-flizpay-collects-1m-pre-seed-funding/
    
    

46. New search engine raises $1.1M for fandom rabbit-holes
    https://techcrunch.com/2025/10/03/a-new-search-engine-raises-1-1m-to-let-obsessive-fans-dive-down-internet-rabbit-holes/
    
    

Notable / No Amount Disclosed (or non-raise)

• Denmark launches the world’s largest quantum fund (amount not stated in link)
  https://tech.eu/2025/10/02/denmark-launches-the-worlds-largest-quantum-fund/
  
  

• European tech funding surged 163% in September to €8.4B
  https://tech.eu/2025/10/02/european-tech-funding-surges-163-in-september-hitting-8-4-billion/
  
  
  

• Google UK profits up; ~400 jobs cut
  https://tech.eu/2025/10/03/profits-up-at-google-uk-but-nearly-400-jobs-cut/
  
  

• NATO “Eastern Shield” not ready for drone war (defense readiness)
  https://tech.eu/2025/10/02/natos-eastern-shield-not-ready-for-drone-war-alpine-eagle-warns/
  
  

• Gaming worlds could solve AI’s data problem (analysis)
  https://www.forbes.com/sites/rashishrivastava/2025/10/01/gaming-worlds-could-be-the-answer-to-ais-data-problem/
  
  
  

Capital flooded into venture markets this week, with landmark moves reshaping the global funding landscape. Stripe’s planned $100 billion valuation via a share buyback underscored investor appetite for fintech at scale, while AI startup Modular pulled in $250 million to mount a direct challenge to Nvidia’s dominance. Sanofi added weight on the healthcare front with a $625 million venture capital push, rounding out a week that also saw PayPal, Archetype, and PayPal-backed blockchain funds targeting emerging markets — proof that venture capital is spreading its bets across AI, crypto, healthcare, and climate tech simultaneously. - Hasan Tarek 

💰 Funding & Venture News (Largest → Smallest)

Mega Deals

1. Stripe eyes $106.7B valuation in VC share buyback
   https://www.techinasia.com/news/stripe-eyes-106-7b-valuation-in-vc-share-buyback

2. Sanofi announces $625M venture capital push
   https://finance.yahoo.com/news/sanofi-announces-625m-venture-capital-084331960.html

3. AI startup Modular raises $250M to challenge Nvidia dominance
   https://www.reuters.com/business/ai-startup-modular-raises-250-million-seeks-challenge-nvidia-dominance-2025-09-24/

4. Tipalti secures $200M growth investment from Hercules Capital
   https://www.fintechfutures.com/venture-capital-funding/tipalti-scores-200m-growth-investment-from-hercules-capital

$100M+ Club

1. Archetype raises $100M+ for latest crypto fund
   https://www.theblock.co/post/371916/archetype-raises-over-100-million-for-latest-crypto-venture-fund

2. Polish Expeditions Fund II raises €100M+ for cybersecurity, AI, quantum & defense
   https://www.eu-startups.com/2025/09/over-e100-million-raised-for-polish-expeditions-fund-ii-targeting-cybersecurity-ai-quantum-and-defence/

3. PayPal invests $100M in Middle East & Africa
   https://www.dabafinance.com/en/news/paypal-100m-investment-middle-east-africa

$50M–$99M

1. Octave Capital & Katapult Ocean launch $75M ocean fund in Asia
   https://www.seafoodsource.com/news/business-finance/octave-capital-katapult-ocean-launch-usd-75-million-ocean-fund-in-asia

2. DFF Ventures launches $50M fund for vertical AI & recommerce
   https://techfundingnews.com/dff-ventures-50m-fund-vertical-ai-recommerce/

$20M–$49M

1. Stablecoin fintech RedotPay secures $47M strategic investment
   https://www.theblock.co/post/372293/stablecoin-payments-fintech-redotpay-47-million-usd-strategic-investment

2. Telegraph Ventures secures $35M to back enterprise AI startups in Quebec
   https://betakit.com/telegraph-ventures-secures-35-million-to-back-enterprise-ai-startups-in-quebec/

3. AI accounting startup Light raises $30M Series A for U.S. expansion
   https://www.fintechfutures.com/venture-capital-funding/ai-accounting-start-up-light-targets-us-expansion-with-30m-series-a

4. OxCCU raises $28M to scale sustainable aviation fuel from waste carbon
   https://travellingforbusiness.co.uk/news/oxccu-raises-28m-to-scale-sustainable-aviation-fuel-from-waste-carbon/

5. Swiss chip startup Corintis raises $24M, expands after Microsoft deal
   https://analyticsindiamag.com/ai-news-updates/swiss-chip-startup-corintis-raises-24m-post-microsoft-deal/

6. Agentic AI startup Emergent raises $23M Series A from Lightspeed
   https://www.outlookbusiness.com/start-up/investors/agentic-ai-start-up-emergent-raises-23-mn-in-series-a-from-lightspeed-other-investors

7. Paid, an AI agent with results-based billing, raises $21M seed led by Manny Medina
   https://techcrunch.com/2025/09/28/paid-the-ai-agent-results-based-billing-startup-from-manny-medina-raises-huge-21m-seed/

8. Daymark Health raises $20M Series A for tech-enabled cancer care platform
   https://www.prnewswire.com/news-releases/daymark-health-raises-20m-in-series-a-funding-to-scale-tech-enabled-cancer-care-platform-to-thousands-of-patients-302566788.html

9. CV VC’s $20M African blockchain fund backed by Circle (USDC issuer)
   https://www.mariblock.com/usdc-issuer-circle-backs-cv-vcs-20m-african-blockchain-fund/

10. M2 announces $20M investment in Ethena (ENA) for Middle East strategy
    https://markets.businessinsider.com/news/currencies/m2-announces-20-million-investment-in-ethena-ena-as-part-of-strategic-venture-for-middle-east-1035203978

Under $20M

1. Lexroom, Italian GenAI legal platform, secures €16M funding
   https://bebeez.eu/2025/09/29/italian-genai-legal-platform-lexroom-closes-e16-million-funding-round/

2. Simple Ventures launches $15M to bring talent back to Canada
   https://betakit.com/simple-ventures-announces-15-million-to-bring-innovation-and-talent-back-to-canada/

3. German deeptech startup Yasp raises €4.2M to accelerate AI model optimisation
   https://www.eu-startups.com/2025/09/german-deeptech-startup-yasp-raises-e4-2-million-to-accelerate-ai-model-optimisation/

4. Robotics & data analytics startup Alloys raises $4.5M pre-seed (backed by Waymo & Tesla execs)
   https://www.startupdaily.net/topic/funding/waymo-tesla-execs-back-robotics-data-analytics-startup-alloys-4-5-million-pre-seed-round/

5. Moneta Health raises $4.5M in funding
   https://www.finsmes.com/2025/09/moneta-health-raises-4-5m-in-funding.html

Notable (No Specific $ Disclosed)

1. Founders Fund & Sequoia back Brazilian AI startup Enter at $350M valuation
   https://www.cbs42.com/business/press-releases/globenewswire/9534316/founders-fund-and-sequoia-back-brazilian-ai-startup-enter-in-350m-valuation-bet-on-the-worlds-toughest-legal-market/

2. Adam Draper’s Boost VC on crypto & Bitcoin venture bets (thought leadership piece)
   https://fortune.com/2025/09/29/adam-draper-boost-vc-crypto-bitcoin-venture-capital/

3. Touring Capital’s AI-powered deal scouting challenges (WSJ feature)
   https://www.wsj.com/articles/venture-firm-touring-capital-decided-to-use-ai-to-scout-deals-it-wasnt-all-smooth-sailing-8349e0db

4. Thyme Care backed by CVS & Humana expands AI cancer care (partnership expansion)
   https://www.modernhealthcare.com/health-tech/ai/mh-thyme-care-cvs-health-humana/

5. Tribe Capital launches first healthcare fund (no $ disclosed)
   https://pitchbook.com/news/articles/tribe-capital-first-healthcare-fund

6. Seven Starling raises from Rethink Impact & Zeal Capital (amount not disclosed)
   https://www.bizjournals.com/washington/news/2025/09/23/seven-starling-rethink-impact-zeal-capital.html

7. Bastion raises funding with Coinbase, Sony, Samsung, Hashed (amount not disclosed)
   https://fortune.com/crypto/2025/09/24/bastion-coinbase-sony-samsung-hashed-fundraise/

1. Wall Street Built a $370 Billion Business Cloning Quant Trades

2. The Professor Who Made $10 Billion By Cutting Google Its First Startup Check

3. SoftBank is revamping its three-year-old diversity fund with new leadership and a $150 million commitment. Its head explains what he’s looking for.

4. Tech Unicorn Fivetran Closes on $125 Million in Debt

5. Zeal Capital is launching a $120M venture fund

6. With government backing, Ireland’s Elkstone closes first VC fund at $108M for early-stage startups

7. Catalyst by Wellstar™ Launches $100 Million Venture Fund to Shape Future of Healthcare

8. Procurement Startup Zip Announces $100 Million In New Funding At A $1.5 Billion Valuation

9. AnD Ventures closes first fund at $70 million

10. Ethernovia Raises $64M in Series A Funding

11. IBM acquires Polar Security for $60 million to help automate cloud data protection

12. Charm gets $53 million to turn corn leftovers into oil and inject it into abandoned oil and gas wells

13. m]x[v Capital Launches with $52M Debut Fund

14. BuildOps Raises $50 Million to Revolutionize Commercial Contracting

15. Borderless Capital and Wormhole Launch $50M Cross-Chain Ecosystem Fund

16. ANYbotics raises $50 million to help deploy its robot dog

17. Spiff begins ‘massive overhaul of core sales commission engine’ following $50M Series C

18. Hippocratic AI Raises $50 Million To Power The Healthcare Bot Workforce

19. Venture Led by Pebb Capital Buys Fort Lauderdale Office Tower for $43M

20. Coinbase founder Brian Armstrong raises $40 million for NewLimit, a startup that wants to ‘cure aging’

21. Amazon undercuts the Echo Dot with the $40 Echo Pop

22. NewLimit Raises $40M to Cure Aging

23. Ageras’ $36M Private Equity deck

24. Former CFO of Seattle startup accused of diverting $35 million, losing it after investing in crypto

25. Peter Thiel Backs Bitcoin Startup River in $35M Round

26. Percent lands $30M investment to connect investors with private credit

27. Prime Roots Raises $30M in Series B Funding to Roll Out the First-of-its-Kind Plant-Based Deli Meats Nationwide

28. Night sweats to climate tech: Kelvin eyes heat pumps and nabs $30M

29. Alloy Enterprises Raises $26M in Series A Funding

30. Landlord-focused insurtech Obie lands $25.5M led by Battery Ventures

31. Mental Healthcare Provider Octave Secures $22M in Funding

32. Seattle startup studio Pioneer Square Labs raises $20M for third fund, bets big on generative AI

33. Together raises $20M to build open source generative AI models

34. Union AI raises $19.1M Series A to simplify AI and data workflows with Flyte

35. Workflow orchestration startup Union AI, which created Flyte, lands $19.1M

36. Kubernetes and sigstore founders raise $17.5M to launch software supply chain startup Stacklok

37. Stratolaunch submits $17M bid for some of Virgin Orbit’s assets

38. Food tech startup Foodberry raising $15M Series A

39. LayerZero and Immunefi launch largest crypto bug bounty program with up to $15M in rewards

40. Laguna Health lands $15 million Series A for AI-powered contextual care platform

41. Climate risk startup Mitiga gets $14.4M to help businesses face an uncertain future

42. E-Con Systems Raises $13 Mn In Maiden Institutional Round

43. Mitiga Solutions mitigating climate risks by raising €13 million

44. Firmbase raises $12 million for financial planning and analysis platform

45. SWAPP raises $11.5 million Series A to help architects with AI platform

46. Add another fraud fighter for the financial services sector list as ThreatFabric nets €11.5 million

47. Satori Capital Raises $10.3M for Satori Neuro Fund, Following Mental Health Venture Launch

48. Quilt raises $9M seed round to become the Nest of heat pumps

49. Tiger Global-backed Axis launches digital payments platform for Egyptian SMEs months after its $8.25M seed 

50. Kallyope Receives $8.2 Million Grant to Identify Novel Interventions for Children and Undernourished Pregnant Women and Mothers Experiencing Environmental Enteric Dysfunction

51. Rubber company to invest $8 million in West Rome; start-up plans to hire 100 over the next 5 years

52. Unity SCM raises $8 million Series A for its supply chain platform

53. Stella Opens Flagship PTSD Treatment Location in Chicago and Secures $7M in Funding

54. Nory knows restaurants, raises €7 million in seed round

55. Ownify Raises $7M in Seed Funding

56. Visual Layer raises $7 million in Seed for its visual data management platform

57. Unitea Raises $7M in Funding

58. Lumeus.ai Raises $6M in Seed Funding

59. CryptoHub raises $6 million led by Tectona at $30 million valuation

60. Oh for Faks sake, they’ve gone and raised €5 million to digitise pharmacies comms with suppliers

61. Edtech platform Oneday raises £5 million to bring its MBA to life

62. Lavita AI Raises $5M in Seed Funding

63. Putting predictive analytics to good use in the food industry, Tenzo ties into $5 million

64. Jia, a blockchain-based lender of small businesses in emerging markets, raises $4.3 million seed

65. PYOR Raises $4M in Seed Funding

66. Music NFT platform anotherblock welcomes Stride, and second Swedish House Mafia member Axwell to cap table in €4 million seed round

67. REI Cooperative Action Fund invests $4 million in nonprofits working to create a more equitable outdoors

68. ZK Startup Lagrange Labs Raises $4M to Build Secure DeFi Interoperability

69. London’s Deployed sees $4 million deployed in its direction

70. Music NFT platform anotherblock welcomes Stride, and second Swedish House Mafia member Axwell to cap table in €4 million seed round

71. Employee insights startup Groopit raises $3.5M, plans to develop generative AI tools

72. Youth mental health startup Somethings launches with a $3.2M raise led by General Catalyst

1. NYBC Ventures launches with $50M for blood and cell therapies

2. 8fig nets $40 million in equity and $100 million in debt to fund online sellers

3. Cullgen Raises $40 Million in New Financing Led by AstraZeneca-CICC Fund

4. Flexport is buying Deliverr from Shopify. Here's the pitch deck the startup used to raise its $40 million Series C and become an acquisition target for some of the biggest names in e-commerce.
5. Venture Capitalist Asks $37.5 Million for Home in One of Miami Beach’s Most Exclusive Enclaves

6. Petal raises $35M, spins off data unit ‘to bring credit scores into the 21st century’

7. AI2 Incubator’s new $30M fund triples down on early-stage AI startups

8. ‘AI-powered’ VC firm Vela emerges from stealth with $25M under management

9. Wellthy lands $25M to help caregivers feel less overwhelmed

10. Seattle VC firm Ascend raises $25M for second fund, plans to double down on AI

11. Brazilian startup Cilia secures $21.8M venture round.

12. AccelerComm’s signal gets supercharged with £21.5 million funding round

13. New Indianapolis venture capital firm launches first $20M fund

14. Cloverly Raises $19M in Series A Funding

15. Triumph raises $14M for an SDK to add real-money tournaments into games

16. Crypto media firm Blockworks raises $12M at $135M valuation

17. BRIK gets $12m to develop low-cost construction materials

18. Add another fraud fighter for the financial services sector list as ThreatFabric nets €11.5 million

19. Cable Raises $11M in Series A Funding

20. Italy’s RBF player Viceversa adds €10 million to the coffers, hints at white label service

21. Salsa dips into $10M to fire up payroll features for software companies

22. Viceversa Closes €10M Funding Round

23. Pudgy Penguin’s $9M seed round could point to a growing NFT industry

24. SPECIAL:Greece sets dealmaking record, and other VC trends in Southern Europe

25. Airspeed Raises $7.5M in Funding

26. Bloomfilter Raises $7M in Seed Funding

27. PermitFlow advances construction permitting automation with $5.5M in new capital

28. AudiencePlus Raises $5.4M in Seed Funding

29. Fibery’s $5.2M Series A deck

30. Voltfang raises €5 million to give new life to EV batteries with its energy storage solution

31. AI, Machine Learning: Openlayer Finalizes $4.8M Seed Round

32. Blu Venture Investors Co-Leads $4.5 Million Seed Round for Aiden Technologies

33. Insurtech Marble raises $4.2mn in seed plus round

34. Denmarks Sparrow Quantum raises €4.1 million for its integrated chip for on-demand single-photon streams

35. Vibe Raises $4M in Seed Funding

36. Award-Winning Web3 Climate Start-up Ecoterra Raises Over $3.5 Million Investors Hurry to Buy in Before 10% Price Rise

37. Fintech firm Fundly.ai bags $3 million in seed funding

38. Optery Raises $2.7M in Seed Funding

39. SPECIAL: Crowdfunding Restaurants Via Blackbird

40. Sweden's Freshsound raises fresh funding to the tune of €2 million

41. Value.Space raises £1.8m for satellite-based insurtech process

42. SPECIAL: Tri Ri Asset Management Announces Launch of Flagship VC Fund

43. Read the 21-page pitch deck a music startup used to raise $1.6 million to make distribution affordable for independent artists

44. German fermented feed start-up finds new investment partner, raises another €1.5m 

45. Shopping space start-up draws £1.5m to solve Sticky problem

46. Belfast spending management platform Polyloop scores £1.2m