By Venture Pulse Daily | Hasan Tarek

AI, Mega-Rounds, and the Return of Risk Capital

This past week offered a sharp snapshot of where global venture capital is heading in 2026: decisively back into scale, infrastructure, and applied artificial intelligence, with risk appetite returning at both the early and late stages of the market.

At the smaller end, seed and pre-seed rounds continued to cluster around workflow automation, vertical AI, and enterprise efficiency. Startups tackling accounts receivable, insurance operations, healthcare administration, logistics, and industrial AI quietly pulled in sub-$10 million checks, signaling that foundational software and applied AI remain the most fundable ideas even in a selective market. These early deals show investors favoring products that deliver measurable ROI rather than speculative platforms.

Momentum accelerated meaningfully at the growth stage. AI-native companies serving finance, legal, enterprise contracting, robotics, and government infrastructure raised increasingly large rounds, often backed by strategic investors and public-sector demand. Northwood’s $100 million raise alongside a U.S. Space Force contract underscored a growing theme: venture-backed startups are now integral to national infrastructure, space, and defense ecosystems.

The week’s defining story, however, belonged to mega-rounds and valuation milestones. Waabi’s funding — stretching from $750 million to a full $1 billion across disclosures — firmly established “physical AI” as one of the decade’s most aggressively funded frontiers. Autonomous trucking, robotics, and real-world AI systems are no longer fringe bets; they are now capitalized at a scale once reserved for consumer internet giants. Meanwhile, Anthropic’s reported $20 billion raise at a $350 billion valuation reinforced the reality that frontier AI labs have effectively become a new asset class altogether.

Capital formation kept pace with startup demand. New venture funds focused on climate tech, healthcare, and biotech closed or approached hundreds of millions of dollars, while established firms returned to the market with larger, more concentrated vehicles. The message from LPs was clear: while diversification remains important, conviction capital is flowing toward fewer themes with higher upside.

Beyond funding, industry signals added further texture. U.S. investors are cautiously re-engaging with China, employee liquidity through tender offers is becoming normalized, and Big Tech is once again circling transformative bets — highlighted by reports of Amazon exploring a massive investment into OpenAI.

Taken together, the week confirmed a broader shift underway in venture markets. Capital is no longer chasing growth at any cost, but it is moving aggressively toward scale where technology reshapes physical systems, regulated industries, and national infrastructure. For founders building in AI, robotics, climate, defense, and enterprise software, the window is not just open — it is widening.

Startup Funding — Small & Early Stage

1. Paraglide raises $4.2M seed to reinvent accounts receivable with agentic AI

2. InsiderCX raises $1.5M to build AI-driven customer experience platform

3. Midship secures $4.15M seed round for AI-powered logistics

4. GIGR raises $5.4M pre-seed to scale creator-led commerce

5. Blockit AI raises $5M seed led by Sequoia to automate healthcare admin

6. CVector raises $5M to build an industrial AI nervous system

7. Dealroom raises $7M to expand global startup intelligence

8. When raises $10M to scale scheduling and workforce automation tools

9. Pace raises $10M to automate insurance operations

10. Summize raises $50M to expand contract lifecycle management platform

Growth-Stage & Late-Stage Startup Funding

11. SpotDraft raises $8M from Qualcomm Ventures for contract AI expansion

12. Remitly alumni raise $6M for AI startup serving sports teams

13. Fulcrum lands $25M as AI-driven insurtechs dominate VC funding

14. Rogo secures $75M Series C to scale AI-powered financial intelligence

15. Northwood raises $100M and wins U.S. Space Force contract

16. Vention reels in $110M to expand industrial robotics platform

17. Dualbird closes on $25M to accelerate cloud-native AI workloads

Mega Rounds, Unicorns & Valuation Milestones

18. Waabi raises $750M to expand autonomous trucking and robotaxis

19. Waabi secures $1B to lead the physical AI revolution

20. Granola in talks to reach $1B valuation as VCs back AI note-taking

21. Anthropic set to raise $20B at a $350B valuation

Venture Funds, Capital Formation & LP News

22. VC firm raises $275M fund focused on climate tech investments

23. Healthier Capital closes on $220M debut fund for health-tech

24. Yosemite eyes $350M fund focused on cancer biotech

25. EQT nears up to €650M for second venture fund

Industry, Markets & Dealbook

26. U.S. investors return to China, says top Chinese venture capitalist

27. Clay explores tender offers as employee liquidity becomes mainstream

28. Amazon in talks to invest up to $50B in OpenAI

29. Israeli AI startup Factify expands PDF intelligence platform

30. IFC eyes up to $40M investment in Navegar

By Venture Pulse Daily | Hasan Tarek

Global Venture Recap: Massive Funds and AI Infrastructure Take Center Stage

The venture capital landscape is seeing a major resurgence in heavyweight financing, characterized by the launch of multi-billion dollar funds and high-stakes investments in specialized artificial intelligence. Battery Ventures is leading the charge, seeking $3.2 billion for its latest flagship fund, while the European market gains a significant boost from Plural's new €1 billion vehicle. This influx of capital coincides with a strategic pivot toward deep-tech AI infrastructure. Notable examples include OpenEvidence's $250 million round at a $1.2 billion valuation for healthcare-specific AI and Neurophos's $110 million raise to develop photonic AI chips.

Sector-specific activity remains robust, particularly in energy and biotechnology. Cloover has secured a staggering $1.2 billion financing commitment for its AI-driven energy platform, highlighting the intersection of sustainability and automation. In the life sciences, three new biotech funds have collectively raised nearly $1 billion across the US and EU, underscoring continued investor confidence in long-term medical innovation. Meanwhile, the M&A market showed signs of life with Yelp’s $300 million acquisition of the AI lead-management startup Hatch.

The early-stage ecosystem continues to display resilience with a steady stream of Series A and Seed rounds. Startups like Cambio and Level3AI secured $18 million and $13 million respectively, while niche industrial innovators such as Point Laz raised $3 million to automate mine shaft inspections. This broad spectrum of funding—from seed-stage automation to massive infrastructure funds—suggests a market that is increasingly prioritizing specialized technical moats and scalable enterprise solutions over general-purpose applications.

Large Funding & Mega Funds ($500M+)

Battery Ventures Seeks $3.2B for Latest Flagship Fund
https://www.venturecapitaljournal.com/vc-doyen-battery-ventures-seeks-3-2bn-for-latest-flagship/

Blueprint Equity Raises $333M Fund III for Enterprise Software & Tech-Enabled Services
https://www.businesswire.com/news/home/20260121486317/en/Blueprint-Equity-Raises-%24333M-Fund-III-Doubling-Down-on-Enterprise-Software-B2B-and-Technology-Enabled-Services-Businesses-Worldwide

Cloover Secures $1.2B Financing Commitment for AI-Driven Energy Platform
https://www.citybiz.co/article/796211/cloover-secures-1-2-billion-financing-commitment-to-build-the-ai-operating-system-for-energy-independence/

Plural Launches €1B European Venture Fund
https://techfundingnews.com/plural-1bn-fund-europe-vc/

Upper-Mid Funding ($100M–$499M)

Bessemer Joins $400M Series D for ClickHouse
https://www.citybiz.co/article/795338/bessemer-venture-partners-joins-400m-series-d-for-clickhouse/

Sequoia-Backed Pennylane Raises €175M as It Nears Profitability
https://bebeez.eu/2026/01/20/sequoia-backed-french-accounting-unicorn-pennylane-secures-e175-million-as-it-approaches-profitability/

OpenEvidence Raises $250M at $12B Valuation for Healthcare AI
https://siliconangle.com/2026/01/21/healthcare-ai-startup-openevidence-raises-250m-12b-valuation/

Claroty Raises $150M for Industrial Cybersecurity Expansion
https://siliconangle.com/2026/01/22/industrial-cybersecurity-startup-claroty-nabs-150m-funding-round/

Inferact Lands $150M to Commercialize vLLM Inference
https://techcrunch.com/2026/01/22/inference-startup-inferact-lands-150m-to-commercialize-vllm/

Neurophos Raises $110M for Photonic AI Chips
https://siliconangle.com/2026/01/22/chip-startup-neurophos-gets-110m-replace-electrons-photons-accelerate-ai-compute/

Railway Secures $100M to Simplify Cloud Deployment
https://siliconangle.com/2026/01/22/intelligent-cloud-infrastructure-startup-railway-gets-100m-simplify-application-deployment/

Mid-Market Funding ($50M–$99M)

Westwood Raises Over $300M for Energy Secondaries Fund
https://pulse2.com/westwood-over-300-million-raised-for-second-energy-secondaries-fund/

Verdict Capital Launches with $300M Target
https://techfundingnews.com/ex-general-catalyst-and-heroic-ventures-execs-launch-verdict-capital-with-300m-target/

Pomelo Secures $55M Series C for LATAM Fintech Expansion
https://www.fintechfutures.com/venture-capital-funding/latam-fintech-pomelo-secures-55m-series-c

IVO Raises $55M to Turn Contracts Into AI-Driven Intelligence
https://www.citybiz.co/article/795373/ivo-raises-55m-to-transform-contracts-into-a-trusted-source-of-intelligence-for-every-business/

Jetson Raises $50M to Scale Heat Pump Technology
https://www.canarymedia.com/articles/heat-pumps/startup-jetson-raises-50m-heat-pumps

Early & Growth Rounds ($20M–$49M)

Fanvue Raises $22M Series A
https://www.thesaasnews.com/news/fanvue-raises-22-million-in-series-a

Cubby Raises $63M Led by Goldman Sachs
https://fortune.com/2026/01/22/exclusive-cubby-raises-63-million-goldman-sachs-led-funding-scale-self-storage-software/

ZBD Raises $40M Series C Backed by Blockstream
https://fortune.com/2026/01/22/zbd-fundraise-blockstream-series-c-40-million/

Escape Plan Raises $25M Series A for Travel Tech Platform
https://etedge-insights.com/trending/escape-plan-raises-25m-series-a-led-by-jungle-ventures-with-indigo-ventures-backing-its-omni-channel-travel-platform/

AheadComputing Raises $30M for New Chip Architecture
https://www.oregonlive.com/silicon-forest/2026/01/oregon-startup-aheadcomputing-raises-another-30-million-for-new-chip-architecture.html

Seed, Pre-Seed & Small Rounds (Under $20M)

Legato Raises $7M Seed Round
https://www.thesaasnews.com/news/legato-raises-7-million-seed-round

Level3AI Raises $13M Seed
https://www.thesaasnews.com/news/level3ai-raises-13-million-in-seed-round

Artie Raises $12M Series A
https://www.thesaasnews.com/news/artie-raises-12-million-in-series-a

Cambio Raises $18M Series A
https://www.thesaasnews.com/news/cambio-raises-18-million-in-series-a

Namitech Raises $4M in Funding
https://vir.com.vn/namitech-raises-4-million-in-funding-145097.html

Point Laz Secures $3M to Automate Mine Shaft Inspections
https://pulse2.com/point-laz-3-million-raised-to-scale-automated-mine-shaft-inspections/

Breez AI Raises $1.3M
https://www.thesaasnews.com/news/breez-ai-secures-1-3-million-in-funding

Funds, Market Moves & Analysis (No Direct Raise)

Three New Biotech Funds Collect Nearly $1B Across US & EU
https://www.fiercebiotech.com/biotech/3-new-venture-funds-collect-nearly-1b-biotech-us-eu

49 US AI Startups Raised $100M+ in 2025
https://techcrunch.com/2026/01/19/here-are-the-49-us-ai-startups-that-have-raised-100m-or-more-in-2025/

Solar Corporate Funding Fell to $22.2B in 2025
https://www.pv-tech.org/solar-pv-corporate-funding-decreased-to-us22-2-billion-in-2025/

NYT: How Humans Are Re-Shaping AI Power Structures
https://www.nytimes.com/2026/01/20/technology/humans-ai-anthropic-xai.html

NFX: The Rise of Screenless Startups
https://www.nfx.com/post/screenless-startup

By Venture Pulse Daily | Hasan Tarek

The opening weeks of 2026 have set a blistering pace for the global innovation economy. From massive AI consolidations to the rise of specialized climate and defense funds, the venture ecosystem is showing remarkable sector-specific depth. Whether it’s robotics scaling the supply chain or quantum computing hitting new milestones, here is a breakdown of the major moves shaping the future.

AI and Robotics: From Scaling to Consolidation

Artificial intelligence continues to be the primary engine of venture activity, but the focus has shifted toward high-utility applications like supply chain logistics and antibody engineering.

• Supply Chain & Automation: Mytra led the funding charts with a $120 million Series C to scale its robotics infrastructure.

• Unicorn Milestones: German startup osapiens reached unicorn status following a $100 million round led by Decarbonization Partners.

• Bio-Engineering: Nuclera expanded its Series C to $87 million, signaling continued investor appetite for AI-driven antibody engineering.

• Early-Stage Innovation: Significant capital also flowed into specialized AI, including Listen Labs ($69M Series B), Protege ($30M for real-world AI data), and Tucuvi ($20M for clinical voice AI).

Quantum and Spacetech: The New Frontier

Deep tech is no longer "speculative"—it is attracting serious, late-stage capital.

• Equal1 secured $60 million to advance its quantum computing roadmap.

• In the aerospace sector, Hydrosat raised $60 million, and Ethereal Exploration Guild brought in $20.5 million for its spacetech initiatives.

Strategic M&A: Big Tech’s Defensive Playbook

The M&A market is heating up as established giants move to acquire specialized AI and security talent.

• The Billion-Dollar Club: Accenture made waves with a $1 billion acquisition of Faculty AI.

• Robotics & Crypto: Mobileye spent $900 million on Mentee Robotics, while Fireblocks expanded its ecosystem by acquiring TRES Finance for $130 million.

• Strategic Partnerships: Eli Lilly entered a massive $950 million partnership with Indupro to advance protein mapping.

The Next Wave: VC Fundraising

Fresh capital is being stockpiled for the year ahead, with a notable focus on international markets and specialized "dual-use" technologies.

• Japan’s Growth: Minerva secured $440 million specifically for late-stage startups in Japan.

• Defense and Security: DTCP launched a specialized fund targeting defense and security startups with €20 million per-deal capacity.

• Sustainability: PureTerra Ventures is targeting €150 million for its new watertech fund, while Superorganism raised $25.9 million for its debut biodiversity fund.

As we move deeper into 2026, the trend is clear: capital is flowing toward startups that can demonstrate tangible impact in complex industries like healthcare, defense, and global logistics. Stay tuned as these investments begin to reshape the market.

Startup Funding (Large to Small)

• Mytra: Raised $120 million Series C for supply chain robotics.

• osapiens: Becomes a unicorn after a $100 million Series C led by Decarbonization Partners.

• Nuclera: Extended its Series C to $87 million to accelerate antibody engineering.

• Mangrove Lithium: Secured $85 million in new financing.

• Listen Labs: Raised $69 million Series B at a $500M valuation.

• Vibrant Therapeutics: Lands $61 million round joined by Pfizer Ventures.

• Equal1: Raised $60 million for quantum computing.

• Aikido: Propelled into global unicorn ranks with a $60 million Series B.

• Hydrosat: Raised $60 million Series B to accelerate growth.

• Pelthos Therapeutics: Secured up to a $50 million venture loan facility.

• Depthfirst: Raised $40 million Series A.

• TaleMonster Games: Closes $30 million Series A.

• Protege: Raised $30 million for real-world AI data.

• Holywater: Secures $22 million to expand mobile microdrama content.

• Enodia Therapeutics: Secures $20.7 million for protein degradation platform.

• Ethereal Exploration Guild: Raised $20.5 million Series A for spacetech.

• Velafi: Secures $20 million Series B.

• Flip: Raised $20 million Series A for vertical AI customer service.

• Tucuvi: Raises $20 million Series A for clinical voice AI.

• Interos AI: Bags $20 million in funding.

• Aurora Therapeutics: Seeks to replicate success with $16 million in seed money.

• Zepo Intelligence: Secures $15 million for AI risk safeguarding.

• WeatherPromise: Closes $12.8 million Series A.

• Diamond Kinetics: Received a $12 million investment.

• Klearly: Secures €12 million for restaurant payment systems.

• Brightheart: Bags €11 million for AI ultrasound platform.

• NetBird: Announces $10 million Series A for VPN alternative.

• CloudSek: Secures $10 million investment.

• Cloudforce: Secures $10 million Series A from Owl Ventures and Microsoft.

• Veera: Crypto startup raises $10 million.

• Truva: Proptech startup raises $9 million.

• Automotus: Receives a new round of $9 million for city automation.

• Strm Bio: Raises $8 million Series Seed 2.

• Bluecopa: Bags $7.5 million for global expansion.

• Atomgrid: Chemical startup raises $7 million.

• Carrum: Fleet management startup secures $7 million from Uber.

• Ahead Health: Raises $6 million for AI-powered health system.

• Agreenculture: Raises $6 million for autonomous farming tech.

• Avenue Biosciences: Raises €4.8 million ($5.7 million) to scale protein engineering.

• Coxwave: Secures $5 million Pre-Series A.

• Pinch AI: Raises $5 million in seed round.

• Oasys Health: Raises $4.6 million.

• Cyb3r Operations: Raises £4 million for third-party risk management.

• Maia Technology: Molten Ventures leads $4 million Series A.

• Verna: Secures $4 million for nature-measurable action.

• Secret Alchemist: Raises $3 million from Unilever Ventures.

• Arrowhead: Voice AI startup raises $3 million.

• Milkstraw AI: Raises $2 million seed round.

• i10x: Singapore startup raises $1 million pre-seed.

VC Fund Raising

• Minerva: Secures $440 million for Japan late-stage startup fund.

• AppWorks: Closes Fund IV at $386 million.

• PureTerra Ventures: Launches Fund II targeting €150 million for watertech.

• Arkin: Raises $100 million for early-stage biotech fund.

• Rosberg Ventures: Former F1 champ Nico Rosberg raises $100 million for VC firm.

• Social Leverage: Raises $85 million.

• 4Founders Capital: Launches €60 million hospitality fund.

• Xirius Ventures: Raising $50 million debut VC fund.

• Superorganism: Raises $25.9 million for debut biodiversity fund.

• DTCP: Expands into defense with €20 million per-deal fund.

Industry News & M&A

• Accenture: Acquires Faculty AI in a $1 billion deal.

• Mobileye: Acquires humanoid robot startup Mentee Robotics for $900 million.

• Meta: $2 billion purchase of AI startup Manus under review by China.

• Cisco: In talks to buy cybersecurity startup Axonius for $2 billion.

• OpenAI: Acquires healthcare startup Torch for $100 million.

• Fireblocks: Buys crypto accounting startup TRES Finance for $130 million.

• Lilly: Partners with Indupro for up to $950 million.

• Flutterwave: Acquires Nigeria's Open Banking startup.

By Venture Pulse Daily | Hasan Tarek

AI, Capital, and Control: How the New Funding Cycle Is Rewriting Power Across Tech, Health, and Finance

The early weeks of 2026 are revealing a venture landscape that looks less exuberant, but far more deliberate. Capital is still moving in meaningful size, yet it is flowing toward infrastructure, risk mitigation, and deep technological leverage rather than consumer growth theatrics. Across artificial intelligence, healthcare, fintech, and industrial technology, investors are signaling a renewed preference for control over scale, defensibility over speed, and systems that solve structural problems rather than surface inefficiencies.

At the center of this cycle is artificial intelligence—not as spectacle, but as plumbing. The most striking AI stories this week are not about chatbots or consumer virality, but about fraud detection, brand perception, compliance, and labor automation. A Forbes investigation into the explosion of AI-driven fraud highlights how synthetic identities, deepfake credentials, and automated deception have rapidly outpaced traditional verification systems. The beneficiaries are no longer ad-tech players but background-check and identity infrastructure startups that are positioning themselves as the last line of defense for employers, banks, and governments.

That institutional framing of AI is echoed in OpenAI’s reported $100 million acquisition of healthcare startup Torch, a move that signals a decisive push beyond horizontal language models into vertical, regulated domains. Healthcare is no longer merely an application layer for AI—it is becoming a proving ground. The deal reflects a broader realization among large AI platforms that long-term value will accrue not from generalized intelligence alone, but from ownership of domain-specific data pipelines, clinical workflows, and compliance-ready architectures.

Nowhere is this more apparent than in biotech and healthtech, where capital is converging around precision and regulation rather than moonshot biology. Aurora Therapeutics, founded by scientists associated with the high-profile “Baby KJ” case, is attracting early attention for its regulatory-first approach to CRISPR therapies, particularly in rare disease categories like PKU. Unlike earlier gene-editing startups that raced toward broad applications, Aurora’s strategy is narrow, methodical, and jurisdiction-aware—qualities that investors increasingly prize as global regulatory scrutiny intensifies.

Health AI is also advancing not through diagnostics hype, but through operational leverage. Spanish startup Tucuvi’s $20 million Series A reflects growing confidence in voice-based AI systems that automate post-treatment nursing follow-ups, a cost center that hospitals have long struggled to scale. The pitch is not futuristic medicine, but staffing relief—an acknowledgment that healthcare systems are buckling under labor shortages and administrative burden as much as clinical complexity.

Venture capital itself is undergoing a quiet recalibration. The headline-grabbing $100 million fundraise by former Formula One champion Nico Rosberg underscores a broader trend: celebrity-adjacent capital is re-entering venture, but with a noticeably institutional tone. These are not vanity funds chasing consumer apps; they are structured vehicles targeting climate, mobility, and industrial transitions where brand credibility and global networks can meaningfully shape outcomes.

Fintech, meanwhile, is consolidating rather than expanding. Fireblocks’ $130 million acquisition of Israeli crypto accounting startup Tres Finance is emblematic of a maturing digital-asset ecosystem that is prioritizing controls, reporting, and compliance over speculative trading infrastructure. The era of fragmented crypto tooling is giving way to vertically integrated financial platforms designed to satisfy auditors, regulators, and enterprise clients alike.

Insurance and risk underwriting are also seeing renewed investor confidence. Startup insurer Corgi’s $108 million raise at a $630 million valuation reflects a belief that data-driven underwriting and automation can still unlock margin in a sector long considered slow-moving and over-regulated. What has changed is not the ambition, but the patience: these companies are building for durability rather than blitzscaling.

Industrial and climate technology rounds further reinforce this shift toward systems-level thinking. Quantum startup Haiqu’s $11 million raise, Finnish protein-manufacturing platform Avenue Biosciences’ €4.8 million funding, and French agri-robotics company Agreenculture’s €6 million round all point to investor appetite for technologies that reduce dependency on fragile global supply chains. These are not speculative bets on distant futures, but targeted investments aimed at improving resilience in food production, manufacturing, and materials science.

Geopolitics continues to loom large over the venture ecosystem. Reuters’ reporting on China’s AI startup MiniMax raising $619 million ahead of a Hong Kong IPO highlights how capital markets are diverging along regulatory and geopolitical lines. At the same time, Bloomberg’s examination of Canada’s troubled startup visa program underscores how policy misalignment can quietly choke innovation pipelines, even in otherwise capital-rich environments.

Media and content startups, once venture darlings, are now navigating a far more selective environment. Semafor’s $30 million funding round suggests there is still room for premium, global journalism—but only when it is positioned as a differentiated product rather than a scale play. Similarly, smaller gaming and content platforms raising sub-$5 million rounds are increasingly framed as cash-efficient, niche businesses rather than breakout unicorn candidates.

Taken together, this week’s funding and deal activity paints a clear picture of where venture capital is heading in 2026. The market is not retreating, but it is narrowing its focus. Capital is concentrating around AI as infrastructure, healthcare as an operational problem, fintech as a compliance challenge, and industrial tech as a hedge against geopolitical and supply-chain instability.

The speculative excesses of the previous cycle are giving way to a more sober phase—one where power accrues to those who control systems, data, and regulation-ready platforms. In this environment, success is less about moving fast and breaking things, and more about building quietly, defensibly, and in plain sight.

Artificial Intelligence, Data & Automation

• AI Fraud Has Exploded. This Background-Check Startup Is Cashing In
  https://www.forbes.com/sites/iainmartin/2026/01/13/ai-fraud-has-exploded-this-background-check-startup-is-cashing-in/

• Former Google and Apple Researchers Raise $50M for New Visual AI Startup
  https://www.theinformation.com/articles/former-google-apple-researchers-raising-50-million-new-visual-ai-startup

• LinkedIn Banned This AI Agent Startup. Now It’s Back
  https://techcrunch.com/2026/01/07/yes-linkedin-banned-ai-agent-startup-artisan-but-now-its-back/

• Unusual Raises $3.6M to Help Brands Change How AI Talks About Them
  https://theaiinsider.tech/2026/01/06/unusual-raises-3-6m-round-as-first-company-to-help-brands-change-how-ai-talks-about-them/
  https://www.globenewswire.com/news-release/2026/01/05/3212818/0/en/unusual-raises-3-6m-round-as-first-company-to-help-brands-change-how-ai-talks-about-them.html

• Meta and Manus Face Scrutiny Over China AI Strategy
  https://www.nytimes.com/2026/01/08/business/meta-manus-china-ai.html

Healthcare, Biotech & Life Sciences

• OpenAI Acquires Healthcare Startup Torch for $100M
  https://www.bwdisrupt.com/article/openai-acquires-healthcare-startup-torch-for-100-mn-to-boost-chatgpt-health-587044

• Startup Aurora Raises Seed Funding to Replicate Baby KJ Success
  https://www.biospace.com/business/startup-aurora-seeks-to-replicate-baby-kj-success-with-16m-in-seed-money

• CRISPR Startup Aurora Bets on Regulation and PKU Market
  https://www.technologyreview.com/2026/01/09/1130945/crispr-startup-aurora-betting-regulation-pku/

• Scientist Behind ‘Baby KJ’ Launches New CRISPR Startup Aurora Therapeutics
  https://www.statnews.com/2026/01/09/baby-kj-scientist-new-crispr-startup-aurora-therapeutics/

• Tucuvi Raises $20M Series A for AI-Driven Nursing Follow-Ups
  https://www.thesaasnews.com/news/tucuvi-raises-20-million-in-series-a
  https://www.eu-startups.com/2026/01/spains-healthtech-startup-tucuvi-raises-e17-million-to-scale-lola-voice-ai-reporting-up-to-80-automation-in-nursing-follow-up/

• Leona Health Secures $14M Seed Funding
  https://www.thesaasnews.com/news/leona-health-lands-14m-seed-funding

• Oasys Health Raises $4.6M
  https://www.thesaasnews.com/news/oasys-health-raises-4-6-million-in-funding

• Maia Technology Raises $4M Series A
  https://www.thesaasnews.com/news/maia-technology-raises-4-million-series-a

Venture Capital, Funds & Investors

• Former F1 Champion Nico Rosberg Raises $100M for VC Firm
  https://www.bloomberg.com/news/articles/2026-01-12/former-f1-champ-nico-rosberg-raises-100-million-for-vc-firm?embedded-checkout=true

• How Canada’s Startup Visa Program Went Wrong
  https://www.bloomberg.com/news/articles/2026-01-08/how-canada-s-start-up-visa-program-went-wrong?embedded-checkout=true

• Startup Insurer Corgi Raises $108M at $630M Valuation
  https://www.axios.com/pro/fintech-deals/2026/01/08/startup-insurer-corgi-108-million-630-million-valuation

Fintech, Crypto & Financial Infrastructure

• Fireblocks Acquires Tres Finance for $130M
  https://www.cpapracticeadvisor.com/2026/01/12/fireblocks-buys-israeli-crypto-accounting-startup-tres-finance-for-130-million/176127/

• Knight Fintech Raises $23.6M Series A
  https://ventureburn.com/knight-fintech-raises-23-6m/
  https://www.fintechfutures.com/venture-capital-funding/knight-fintech-raises-23.6m-series-a

• Cloudforce Secures $10M Series A from Owl Ventures and Microsoft
  https://theaiinsider.tech/2026/01/12/cloudforce-secures-10m-series-a-from-owl-ventures-and-microsoft-to-democratize-safe-equitable-ai-in-education-healthcare-and-beyond/
  https://finance.yahoo.com/news/cloudforce-secures-10m-series-owl-130000158.html
  https://www.prnewswire.com/news-releases/cloudforce-secures-10m-series-a-from-owl-ventures-and-microsoft-to-democratize-safe-equitable-ai-in-education-healthcare-and-beyond-302656775.html

Industrial, Manufacturing & Climate Tech

• Quantum Startup Haiqu Raises $11M
  https://tech.eu/2026/01/13/quantum-startup-haiqu-raises-11m/

• Finnish Startup Avenue Biosciences Raises €4.8M
  https://www.eu-startups.com/2026/01/finnish-startup-avenue-biosciences-secures-e4-8-million-to-help-drugmakers-manufacture-proteins-more-reliably/

• French AgriTech Startup Agreenculture Raises €6M
  https://www.novuslight.com/french-startup-agreenculture-raises-6-million-to-grow-its-autonomous-farming-technology_N13619.html

• Nanochon Closes $4.1M Seed Round
  https://www.prnewswire.com/news-releases/nanochon-closes-4-1m-seed-prime-ii-funding-round-302658125.html

• Stowlog Closes €1M Investment
  https://dredgewire.com/stowlog-closes-e1m-investment/

Mobility, Logistics & Transportation

• Fleet Management Startup Carrum Raises $7M from Uber
  https://inc42.com/buzz/fleet-management-startup-carrum-secures-7-mn-from-uber/

• Charlotte Transit Authority Receives $4.3M in Startup Funding
  https://www.qcnews.com/news/charlotte-city-council/on-board-charlotte-provides-new-transit-authority-4-3-million-in-startup-funds/

International, Policy & Society

• Eric Schmidt Backs Telescope Projects Beyond Google
  https://www.nytimes.com/2026/01/09/science/eric-schmidt-telescopes-google-space.html

• China’s AI Startup MiniMax Raises $619M Ahead of IPO
  https://www.reuters.com/world/asia-pacific/chinas-ai-startup-minimax-group-raises-619-million-hong-kong-ipo-2026-01-08/

• 23andMe Files for Bankruptcy as Genetic Testing Demand Slows
  https://www.bizjournals.com/bizwomen/news/latest-news/2026/01/23andme-bankruptcy-anne-wojcicki-genetic-testing.html

Media, Gaming & Content

• GameByte Secures $1M in Funding
  https://www.thesaasnews.com/news/gamebyte-secures-1-million-in-funding
  https://tech.eu/2025/12/29/webrazzi-gsyf-invested-1m-in-gamebyte/

• Media Startup Semafor Raises $30M
  https://www.wsj.com/business/media/media-startup-semafor-raises-30-million-in-new-funding-round-00fcdf9f

By Venture Pulse Daily | Hasan Tarek

As 2025 draws to a close, the global venture market is not so much rebounding as it is reasserting discipline. The funding stack that has emerged over the past several weeks tells a coherent, if unsentimental, story about where capital believes real durability lies heading into 2026—and just as importantly, where it no longer does. This is not a market chasing novelty. It is a market underwriting infrastructure, monetization clarity, and operational leverage, even as artificial intelligence remains the dominant gravitational force.

At the top of the stack, capital is flowing decisively toward healthcare enablement, industrial systems, and regulated rails, rather than speculative consumer experimentation. Large raises for companies like TrueMed and Daisy Genomics reflect a broader investor thesis: healthcare remains one of the few sectors where regulatory friction, reimbursement complexity, and entrenched incumbency create defensible moats rather than obstacles. The size and structure of these rounds suggest investors are not betting on quick exits but on companies that can become long-term platforms embedded into how care is paid for, delivered, and measured.

Equally telling is the resurgence of industrial and physical-world technology, a category that many investors had quietly sidelined during the software-first decade of cheap capital. Funding for construction-tech, bio-based manufacturing, XR hardware, and energy-efficient data center components points to a market recalibrating around tangible productivity gains. These are not products optimized for virality; they are tools designed to plug directly into labor shortages, infrastructure backlogs, and rising energy constraints—macro conditions that are unlikely to ease in 2026.

Artificial intelligence, meanwhile, is no longer being funded as a concept but as an input layer—something to be integrated, priced, and operationalized rather than endlessly demoed. The mid-tier and early-stage rounds tell a story of AI being bundled into fintech workflows, enterprise compliance, avatar-based interfaces, and data infrastructure, with valuations increasingly tethered to revenue visibility rather than model novelty. This shift aligns with growing investor skepticism, echoed openly by venture firms themselves, that a large share of AI startups launched over the past two years will not survive the coming cycle of consolidation.

Geographically, the funding stack underscores a continued decentralization of venture capital, but not a democratization of standards. Capital is flowing into Africa, Central Asia, Southern Europe, and regional U.S. hubs—but only where founders are solving problems tied to payments, logistics, healthcare, or enterprise efficiency. The days when emerging-market startups could raise on narrative alone appear decisively over. Investors are globalizing their portfolios while simultaneously narrowing their tolerance for ambiguity.

Perhaps most striking is what sits alongside the funding headlines: acquisitions, executive departures, fund restructurings, and warnings of startup attrition. These are not peripheral stories. They are signals that the venture ecosystem is entering a phase of selective pruning, where scale, governance, and unit economics matter more than founder mythology or speed. Even cultural markers—such as the elevation of college dropouts as founder archetypes or the intensifying competition for elite AI talent—now coexist with a harsher reality: only a fraction of today’s startups will be financed into maturity.

Taken together, this funding stack suggests that 2026 will not be defined by exuberance, nor by retrenchment, but by consequence. Capital is still abundant, but it is increasingly conditional. The market is rewarding companies that sit at the intersection of technology and inevitability—health, energy, payments, infrastructure—while quietly withdrawing patience from those built on momentum alone. For founders and investors alike, the message is unmistakable: the next cycle will favor those who can turn innovation into systems, not stories.

💰 Mega & Large Capital Events (Top of the Stack)

1. [$34M Series A] TrueMed Closes $34M Series A Funding
   https://www.citybiz.co/article/787396/truemed-closes-34-million-series-a/

2. [$34M Funding] TrueMed Raises $34M to Expand HSA/FSA Eligibility Infrastructure
   https://athletechnews.com/truemed-34-million-funding-hsa-fsa/

3. [$30M Series A] Olea Secures $30M in Series A Funding Led by BBVA
   https://www.fintechfutures.com/venture-capital-funding/olea-secures-30m-in-series-a-funding-round-led-by-bbva

4. [$27M Liabilities] Australian Travel Startup Rail Online Collapses Owing ~$27M to Creditors
   https://www.skynews.com.au/business/tech-and-innovation/australian-travel-startup-rail-online-collapses-owing-creditors-about-27m-after-just-four-years-in-business/news-story/962dfcf29bdfe3d88f449f52c57bf17a

5. [$25M Funding] Daisy Genomics Raises $25M to Boost Precision Medicine Technology
   https://www.abqjournal.com/business/albuquerque-startup-daisy-genomics-raises-25-million-to-boost-precision-medicine-technology/2951794

6. [$23M Growth Round] Nawah Scientific Raises $23M to Scale Africa’s Cloud Lab Model
   https://innovation-village.com/nawah-scientific-raises-23-million-to-scale-africas-cloud-lab-model-across-continents/#google_vignette

7. [$23M] StretchSense Raises $23M to Expand XR Training Gloves Globally
   https://tech.eu/2025/12/19/stretchsense-raises-23m-to-drive-global-expansion-of-xr-training-gloves/

8. [$22M Funding] Hen Technologies Bags $22M in Funding
   https://www.thesaasnews.com/news/hen-technologies-bags-22-million-in-funding

9. [$20M Seed] Endra Closes $20M Seed Round Amid Construction Supercycle Demand
   https://tech.eu/2025/12/18/endra-closes-20m-seed-round-amid-surging-demand-in-construction-supercycle/

10. [$20M EIB Loan] Finland’s Aisti Secures €20M EIB Loan to Scale Bio-Based Manufacturing
    https://bebeez.eu/2025/12/22/quietly-scaling-up-finlands-aisti-secures-e20-million-eib-loan-to-accelerate-bio-based-acoustic-tile-production/

11. [$20M Series A] Sequence Raises $20M in Series A Funding
    https://www.fintechfutures.com/venture-capital-funding/sequence-raises-20m-in-series-a

12. [$18M Series B] Manifold Raises $18M in Series B
    https://www.thesaasnews.com/news/manifold-raises-18-million-series-b

💸 Mid-Tier Rounds & Strategic Growth

13. [$17M Series A] Finny Raises $17M in Series A Funding
    https://www.thesaasnews.com/news/finny-raises-17-million-series-a

14. [$15M] Enlightra Exits Stealth With $15M for Energy-Efficient AI Data Center Lasers
    https://tech.eu/2025/12/18/enlightra-exits-stealth-with-15m-to-power-energy-efficient-ai-data-centre-lasers/

15. [$12M Series A] PowerUp Money Raises $12M in Series A Led by Peak XV
    https://www.marcamoney.com/powerup-money-raises-12-million-in-series-a-funding-led-by-peak-xv/

16. [$12M Funding] PowerUp Money Secures $12M From Peak XV and Others
    https://www.msn.com/en-in/money/topstories/wealthtech-startup-powerup-money-secures-12-million-funding-from-peak-xv-partners-others/ar-AA1SOcU5

17. [$10.5M] Lemon Slice Nabs $10.5M From Y Combinator and Matrix to Build Digital Avatar Tech
    https://techcrunch.com/2025/12/23/lemon-slice-nabs-10-5m-from-yc-and-matrix-to-build-out-its-digital-avatar-tech/

18. [~€9M Invested] Madrid’s Akka Channels Nearly €9M Into Tech Companies in 2025
    https://www.eu-startups.com/2025/12/making-startup-investing-accessible-madrids-akka-channeled-near-e9-million-into-tech-companies-in-2025/

💵 Seed & Early-Stage Rounds

19. [$8M Seed] Dazzle, New AI Startup Led by Marissa Mayer, Raises $8M
    https://siliconangle.com/2025/12/23/dazzle-new-ai-startup-led-marissa-mayer-raises-8m/

20. [$8M Seed] Zinit Raises $8M in Seed Round Led by Altair Capital
    https://www.bwdisrupt.com/article/zinit-raises-8-mn-in-seed-round-led-by-altair-capital-581083

21. [$6.8M Series A] Cordulus Raises $6.8M in Series A
    https://www.thesaasnews.com/news/cordulus-raises-6-8-million-in-series-a

22. [$2.5M Pre-Seed] Ciphero Raises $2.5M in Pre-Seed Funding
    https://www.thesaasnews.com/news/ciphero-raises-2-5m-pre-seed-round

23. [$2.3M Funding] DigiCust Raises $2.3M in Funding
    https://www.thesaasnews.com/news/digicust-raises-2-3-million-in-funding

24. [$2M Funding] Ezeebit Raises $2M to Scale Crypto Payments Across Africa
    https://www.techinafrica.com/south-african-crypto-payments-startup-ezeebit-raises-2-million-to-scale-across-africa/

25. [$2M Seed] RepSense Secures $2M Seed Round
    https://www.thesaasnews.com/news/repsense-secures-2-million-seed-round

26. [$1.7M Seed] Latentforce Raises $1.7M Seed Round
    https://www.thesaasnews.com/news/latentforce-raises-1-7m-seed-round

27. [$1.45M] Nodu Lands $1.45M to Upgrade Europe’s Payment Rails as Stablecoins Surge
    https://tech.eu/2025/12/19/nodu-lands-145m-to-upgrade-europes-payment-rails-as-stablecoins-surge/

28. [$1.45M Pre-Seed] Nodu Raises $1.45M Pre-Seed Funding
    https://www.thesaasnews.com/news/nodu-raises-1-45-million-pre-seed-funding

29. [$1M Investment] Webrazzi GSYF Invests $1M in GameByte
    https://tech.eu/2025/12/29/webrazzi-gsyf-invested-1m-in-gamebyte/

🧠 M&A, VC Strategy, Ecosystem & Talent (No Clear Raise Amount)

30. Meta Buys AI Startup Manus, Adding Millions of Paying Users
    https://www.wsj.com/tech/ai/meta-buys-ai-startup-manus-adding-millions-of-paying-users-f1dc7ef8

31. College Dropout Has Become the Most Coveted Startup Founder Credential
    https://techcrunch.com/2025/12/31/college-dropout-has-become-the-most-coveted-startup-founder-credential/

32. Venture Capitalists Predict Many AI Startups Will Be Weeded Out in 2026
    https://www.wsj.com/articles/venture-capitalists-predict-many-ai-startups-will-get-weeded-out-in-2026-61134d89

33. Booz Allen Triples Its Venture Capital Fund
    https://virginiabusiness.com/booz-allen-triples-venture-capital-fund/

34. Women in VC See Wave of Partner Promotions Heading Into 2026
    https://www.businessinsider.com/women-in-vc-partner-promotions-2025-2026-1

35. Mirae Asset Venture Investments Appoints Former Steadview Executive
    https://www.entrepreneur.com/en-in/news-and-trends/mirae-asset-venture-investments-appoints-former-steadview/501531

36. Chattanooga-Based Startup Acquires One of Its Rivals
    https://www.timesfreepress.com/news/2025/dec/31/chattanooga-based-start-up-acquires-one-of-its/

37. OpenAI Is Paying Employees More Than Any Major Tech Startup in History
    https://www.wsj.com/tech/ai/openai-is-paying-employees-more-than-any-major-tech-startup-in-history-23472527

38. University Venture Fund Launches ‘Accelerate’ in 2025
    https://globalventuring.com/corporate/university/university-venture-fund-launches-accelerate-in-2025/

39. Kazakhstan’s Most Ventures Invests in Uzbek Startup Bito at $10M Valuation
    https://timesca.com/kazakhstans-most-ventures-invests-in-uzbek-startup-bito-valuing-company-at-10-million/

40. Knight Fintech Accelerator Expands Regional Investment Push
    https://www.dealstreetasia.com/stories/knight-fintech-accel-468178

41. Palantir CIO Jim Siders Leaves for Thrive Capital’s Shield Technology
    https://www.cnbc.com/2025/12/15/palantir-cio-jim-siders-leaves-for-thrive-capitals-shield-technology.html

42. Jon Medved Diagnosed With ALS — And Backed the Tech That Will Improve His Life
    https://techcrunch.com/2025/12/21/israels-famed-vc-jon-medved-diagnosed-with-als-backed-the-tech-that-will-improve-his-life/

By Venture Pulse Daily | Hasan Tarek

The week spanning December 15 through December 21, 2025, did not behave like a year-end slowdown. Instead, it served as a definitive closing chapter for a year defined by capital concentration, artificial intelligence consolidation, and the re-emergence of deep-tech infrastructure as venture capital’s most reliable growth engine. In what should have been a quiet stretch dominated by holiday schedules and deferred diligence, global venture firms, private equity sponsors, and strategic acquirers executed one of the densest seven-day bursts of dealmaking in recent memory, spanning AI platforms, cybersecurity, energy systems, healthcare infrastructure, and large-scale enterprise software.

At the very top of the market, the center of gravity shifted decisively toward platforms that now resemble sovereign-scale infrastructure rather than venture-stage businesses. OpenAI set the tone by signaling plans to pursue an unprecedented $100 billion funding round at a valuation approaching $830 billion, a move that—if completed—would fundamentally reshape the global venture ecosystem and test the upper limits of institutional liquidity. The ambition was matched almost immediately by Databricks, which closed a $4 billion Series L round led by Insight Partners alongside Fidelity and J.P. Morgan, pushing its valuation to approximately $134 billion. Databricks’ raise was less about incremental growth and more about entrenchment: a recognition that data-intelligence platforms sit at the core of every serious AI deployment strategy.

Cybersecurity capital followed in force. Cyera secured $400 million in a Blackstone-led round valuing the company at $9 billion, underscoring how data security has become inseparable from enterprise AI adoption. As large language models spread across fragmented corporate data environments, investors are no longer treating security platforms as defensive tools but as foundational infrastructure. That same logic extended to companies such as PolyAI, which raised $86 million in a Georgian-led Series D with participation from NVentures, Nvidia’s venture arm, reinforcing how hyperscalers are increasingly underwriting the ecosystems that reinforce their own compute and AI strategies.

Energy and industrial technology quietly rivaled AI in urgency. Radiant raised $300 million in a Series D backed by Draper Associates and Boost VC to scale its nuclear microreactor program, reflecting a growing consensus that renewable energy alone cannot support the power demands of AI data centers, advanced manufacturing, and national security infrastructure. That theme echoed across the sector, with Last Energy securing $100 million for modular reactors and multiple grid-optimization and energy-resilience startups attracting late-year capital as investors recalibrated around physical constraints rather than purely digital scalability.

Healthcare and biotech financing showed a similarly selective but confident pattern. Chai Discovery raised $130 million in a Series B led by General Catalyst, reinforcing investor appetite for AI-native biotech platforms that integrate directly into pharmaceutical workflows rather than offering abstract discovery promises. Healthcare software provider Tebra pulled in $250 million, while Clarity Pediatrics, Valerie Health, and Aeovian Pharmaceuticals attracted capital aimed at operational efficiency rather than speculative therapeutics. The message was clear: investors are backing healthcare platforms that reduce friction, cost, and time-to-outcome.

The mid-market provided perhaps the clearest signal of how venture capital itself has evolved. Harness raised $240 million to scale its software delivery platform, Imprint secured $150 million to expand its branded credit ecosystem, and HawkEye 360 raised $150 million to extend its satellite signal intelligence capabilities. Meanwhile, companies such as Mirelo, Ankar, Sequence, Trigger.dev, and Neurable raised between $16 million and $41 million by embedding AI directly into high-frequency workflows where switching costs are real and budgets are defensible. Venture capital here looked far less like speculative option-writing and far more like disciplined enterprise underwriting.

Even the seed market, often the first to freeze during periods of uncertainty, remained active—though markedly more professionalized. First Voyage, Kaaj Technologies, The General Intelligence Company, Amphix Bio, and a host of sub-$10 million financings demonstrated that early-stage capital remains available, but only for teams with deep domain fluency, credible technical moats, and clear commercialization paths. Capital is still flowing, but patience for ambiguity has evaporated.

Private equity and strategic acquirers provided the week’s exclamation points. Permira and Warburg Pincus announced an $8.4 billion take-private of Clearwater Analytics, Qualcomm completed its $2.4 billion acquisition of Alphawave Semi, and AMD finalized a $4.9 billion purchase of ZT Systems to deepen its AI infrastructure stack. ServiceNow explored a potential $7 billion acquisition of Armis, while Palo Alto Networks continued its consolidation drive with CyberArk. Meanwhile, the public markets quietly reopened their doors: Andersen Group completed a $176 million IPO, and Medtronic filed plans to spin out its MiniMed diabetes unit, signaling cautious optimism for high-quality public exits in 2026.

Fund formation reinforced the narrative. Nuveen Real Estate closed a $650 million strategic debt fund, the University of Pennsylvania launched a $10 million startup fund to support academic spinouts, and a wave of sector-focused vehicles targeting AI, energy transition, and enterprise software reached final closes. Institutional capital is not retreating from alternatives; it is reallocating toward managers with explicit theses, operational depth, and the ability to navigate longer investment cycles.

Taken together, the sheer density of activity between December 15 and December 22—spanning OpenAI, Databricks, Cyera, Radiant, Chai Discovery, PolyAI, Blackstone, Insight Partners, General Catalyst, Permira, and dozens more—signals that venture capital has entered a new phase. Capital remains abundant, but it is no longer tolerant of abstraction. Investors are underwriting durability, infrastructure, and necessity rather than novelty.

For founders, the implication is stark but clarifying. Capital is available at scale, but only for companies that sit at the intersection of technical depth, strategic relevance, and long-term demand. For investors, the lesson is equally direct: the next cycle’s winners will not be defined by who builds the flashiest AI demo, but by who finances the systems that make AI, energy, and enterprise infrastructure sustainable over decades.

Mega Rounds & Growth Equity (>$100M)

1. Databricks ($4B): https://news.crunchbase.com/venture/biggest-funding-rounds-databricks-cyera/

2. Cyera ($400M): https://pitchbook.com/newsletter/global-vc-deals-for-december-18-2025

3. Radiant ($300M): https://www.businesswire.com/newsroom/subject/funding

4. Suno ($250M): https://www.crescendo.ai/news/latest-vc-investment-deals-in-ai-startups

5. Tebra ($250M): https://news.crunchbase.com/venture/biggest-funding-rounds-databricks-cyera/

6. Harness ($240M): https://www.crescendo.ai/news/latest-vc-investment-deals-in-ai-startups

7. Imprint ($150M): https://pitchbook.com/newsletter/global-vc-deals-for-december-18-2025

8. Chai Discovery ($130M): https://www.crescendo.ai/news/latest-vc-investment-deals-in-ai-startups

9. Hippocratic AI ($126M): https://www.crescendo.ai/news/latest-vc-investment-deals-in-ai-startups

10. Mythic ($125M): https://pitchbook.com/newsletter/global-vc-deals-for-december-18-2025

11. Vega ($120M): https://pitchbook.com/newsletter/global-vc-deals-for-december-18-2025

12. Last Energy ($100M): https://startups.gallery/news

13. Addition Therapeutics ($100M): https://pitchbook.com/newsletter/global-vc-deals-for-december-18-2025

Mid-Market & Early Stage ($10M–$99M)

14. PolyAI ($86M): https://www.crescendo.ai/news/latest-vc-investment-deals-in-ai-startups

15. Adaptive Security ($81.0M): https://alleywatch.com/2025/12/the-weekly-notable-startup-funding-report-12-22-25/

16. Edison ($70M): https://startups.gallery/news

17. Aeovian Pharmaceuticals ($55M): https://alleywatch.com/2025/12/the-weekly-notable-startup-funding-report-12-22-25/

18. Mirelo ($41M): https://startups.gallery/news

19. Echo ($35M): https://startups.gallery/news

20. Ben ($27.5M): https://pitchbook.com/newsletter/global-vc-deals-for-december-18-2025

21. HEN Technologies ($22M): https://www.thesaasnews.com/news/hen-technologies-bags-22-million-in-funding

22. Sequence ($20M): https://startups.gallery/news

23. Ankar ($20M): https://www.crescendo.ai/news/latest-vc-investment-deals-in-ai-startups

24. Trigger.dev ($16M): https://startups.gallery/news

25. Oboe ($16M): https://startups.gallery/news

26. Clarity Pediatrics ($14.5M): https://alleywatch.com/2025/12/the-weekly-notable-startup-funding-report-12-22-25/

27. Leona ($14M): https://startups.gallery/news

28. Pyxis (S$13M): https://laotiantimes.com/2025/12/22/pyxis-secures-s13-million-in-first-close-of-growth-funding-round-signalling-strong-market-momentum-for-maritime-electrification-in-asia/

29. Roamless ($12M): https://startups.gallery/news

Seed & Early Revenue Deals ($1M–$10M)

30. The General Intelligence Company ($8.7M): https://startups.gallery/news

31. Beycome ($2.5M): https://www.prnewswire.com/news-releases/financial-services-latest-news/venture-capital-list/

32. Kaaj Technologies ($3.8M): https://www.crescendo.ai/news/latest-vc-investment-deals-in-ai-startups

33. First Voyage ($2.5M): https://www.crescendo.ai/news/latest-vc-investment-deals-in-ai-startups

34. TomaGold ($1M): https://www.businesswire.com/newsroom/subject/funding

35. Lexi Ventures ($500K check): https://www.openvc.app/investor-lists/seed-investors

36. Colin Weston ($50K check): https://www.openvc.app/investor-lists/seed-investors

M&A, IPOs & Strategic Transactions

37. Palo Alto Networks / CyberArk ($25B): https://maadvisor.com/maalerts/ai-tech-ma-why-decembers-100b-deal-sprint-just-defined-your-2026-opportunities/

38. AMD / ZT Systems ($4.9B): https://maadvisor.com/maalerts/ai-tech-ma-why-decembers-100b-deal-sprint-just-defined-your-2026-opportunities/

39. ServiceNow / Armis ($7B – potential): https://www.youtube.com/watch?v=gm-EvaLPQuk

40. Lenovo / Infinidat ($1.5B): https://maadvisor.com/maalerts/ai-tech-ma-why-decembers-100b-deal-sprint-just-defined-your-2026-opportunities/

41. Andersen Group IPO ($176M): https://www.stocktitan.net/news/ANDG/gunderson-dettmer-represents-client-andersen-group-in-its-176-ab2m2jmxxvw4.html

42. Trade Republic (€1.2B): https://pitchbook.com/newsletter/global-vc-deals-for-december-18-2025

43. MoEngage ($180M): https://pitchbook.com/newsletter/global-vc-deals-for-december-18-2025

44. Polestar ($300M investment): https://www.businesswire.com/newsroom/subject/funding

45. Paramount / Warner Bros ($108B): https://ionanalytics.com/insights/mergermarket/megadeal-wave-propels-global-ma-to-near-record-high-in-2025/

46. Electronic Arts LBO ($57B): https://ionanalytics.com/insights/mergermarket/megadeal-wave-propels-global-ma-to-near-record-high-in-2025/

47. Toyota Fudosan / Toyota Industries ($33B): https://ionanalytics.com/insights/mergermarket/megadeal-wave-propels-global-ma-to-near-record-high-in-2025/

48. PWC / AI Infrastructure assets (valuation multiples +40%): https://maadvisor.com/maalerts/ai-tech-ma-why-decembers-100b-deal-sprint-just-defined-your-2026-opportunities/

Fund Launches & Closes

49. Nuveen Real Estate ($650M): https://www.prnewswire.com/news-releases/nuveen-real-estate-raises-650-million-for-final-close-of-us-strategic-debt-fund-302629979.html

50. University of Pennsylvania StartUP Fund: https://penntoday.upenn.edu/news/university-pennsylvania-launches-startup-fund

51. Walker & Dunlop ($778.6M loan): https://www.businesswire.com/newsroom/subject/funding

52. Keyhorse Capital ($1M checks): https://www.openvc.app/investor-lists/seed-investors

53. Stephen Industries ($5M checks): https://www.openvc.app/investor-lists/seed-investors

54. Move Energy ($6M checks): https://www.openvc.app/investor-lists/seed-investors

55. May Ventures ($1.2M checks): https://www.openvc.app/investor-lists/seed-investors

56. Constructor Capital ($10M checks): https://www.openvc.app/investor-lists/seed-investors

57. GoingVC Partners ($200K checks): https://www.openvc.app/investor-lists/seed-investors

58. e2vc ($5M checks): https://www.openvc.app/investor-lists/seed-investors

59. AIP Seed VC ($400K checks): https://www.openvc.app/investor-lists/seed-investors

60. No Brand ($1M checks): https://www.openvc.app/investor-lists/seed-investors

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/