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

In insecure times, security looks like an appealing sector for investment. That’s one interpretation of this week’s tally of the largest startup funding rounds.

The size of the largest U.S. deals was smaller than in recent weeks, and heavily featured cybersecurity- and privacy-focused startups. This includes the week’s biggest round — a $375 million Series B for consumer privacy and security platform . Other areas that attracted good-sized financings included AI infrastructure, biotech, healthcare, and robotics.

1. , $375M, privacy: Cloaked, a provider of consumer privacy and security tools, raised $375 million in Series B funding led by and . Founded in 2020, the Massachusetts-based company sells monthly subscriptions for individuals and families.

2. , $143M, AI infrastructure: Frore Systems, a developer of integrated cooling architecture for AI computing and networking hardware, announced that it closed on $143 million in Series D funding. led the financing, which set a $1.64 billion valuation for the 8-year-old, San Jose-based company.

3. (tied) , $120M, cybersecurity: Seattle-based XBow, a provider of autonomous security testing technology, picked up $120 million in Series C funding. and led the round, which values the 2-year-old company at over $1 billion.

3. (tied) , $120M, cybersecurity: Oasis Security, a developer of identify security tools with a focus on AI agents, secured $120 million in a funding round backed by , , and . The 4-year-old company, which is headquartered in  New York and has a presence in Israel, has raised $195 million to date, per Crunchbase data.

5. (tied) , $100M, medical devices: Imperative Care, a medical device company focused on treatment for stroke and vascular diseases caused by blood clot formation, secured $100 million in convertible note financing. and led the investment for the Campbell, California-based company.

5. (tied) , $100M, social media: Seattle-based social network Bluesky this week that it raised a previously unannounced $100 million Series B round that closed last spring, led by .

5. (tied) , $100M, privacy and security: Cape, a recently launched privacy-focused mobile network, landed $100 million in Series C funding. and led the financing, which set a $900 million valuation for the Arlington, Virginia-based company.

8. , $80M, healthcare AI: Latent, an AI platform aimed at helping move patients from clinical decision to therapy, picked up $80 million in a Series A round. and led the financing for the San Francisco-based company.

9. , $77M, biotech: Cambridge, Massachusetts-based Crossbow Therapeutics, a biotech startup focused on developing new antibody therapies to treat a broad range of cancers, raised $77 million in Series B funding. and led the round, which will support a Phase 1 clinical trial of the company’s lead program.

10. , $52M, robotics: RoboForce, a startup focused on developing AI-enabled robot labor for industrial environments, said it $52 million in fresh funding, bringing its total raise to $67 million. led the financing for the Milpitas, California-based company.

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of March 14-20. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

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

It was going to be a fairly business as usual top 10 list this week until decided to disrupt our Friday with news that it raised $110 billion in new funding. Yes, $110 billion. That is so much money, and so record-setting as a private company funding round, that it makes all those other $100 million and $200 million rounds we usually write about look very paltry by comparison.

That said, we did nonetheless see a number of these kinds of rounds, in sectors including semiconductors, AI, healthcare and biotech.

1. , $110B, artificial intelligence: Generative AI giant OpenAI that it has raised $110 billion in new investment at a valuation of $730 billion pre-money, or $840 billion post-money. The deal includes $50 billion from , $30 billion from , and $30 billion from . San Francisco-based OpenAI says more investors are expected to join as the round progresses.

2. (tied) , $500M, semiconductors: MatX, a startup that designs custom chips and hardware architectures to support large language models, secured $500 million in Series B funding as it prepares to scale manufacturing. and led the financing for the Mountain View, California-based company.

2. (tied) , $500M, broadband: Boulder, Colorado-based Vero Networks, a fiber infrastructure and broadband internet provider, picked up $500 million in a growth funding round backed by , and .

4. , $240M, fusion: Janesville, Wisconsin-based Shine Technologies, a developer of fusion technologies with applications in the medicine and energy sectors, raised $240 million in equity funding led by .

5. , $150M, hardware testing tools: Revel, developer of a software platform for hardware test and control, closed on $150 million in Series B funding. led the financing for the Los Angeles-based company, which plans to expand its offerings across aerospace, defense, robotics and industrial sectors.

6. , $140M, healthcare: Nashville, Tennessee-based Honest Health, a provider of tech-enabled tools for primary care providers, secured $140 million in a new financing led by .

7. , $130M, biotech: Slate Medicines, a startup working on therapeutics for headache disorders, announced its launch alongside $130 million in Series A financing. , and led the investment for the Raleigh, North Carolina-based company.

8. , $106M, smart infrastructure: Fort Lauderdale, Florida-based Ubicquia, provider of an analytics platform for smart lighting, grid monitoring and public safety applications, raised $106 million in Series D funding. and led the financing for the 12-year-old company.

9. (tied) , $100M, AI-enabled accounting: Basis, an AI agent platform for accountants, closed on $100 million in Series B funding at a $1.15 billion valuation. led the round for the New York-based startup, along with , and .

9. (tied) , $100M, satellite and network communication: spinout Aalyria, a developer of software that configures communications satellites to meet demand, secured $100 million in Series B funding. and led the financing for the Livermore, California-based company.

9. (tied) , $100M, smart glasses: Viture, a San Francisco-based maker of extended reality (XR) smart glasses and accessories, says it $100 million in a financing led by .

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of Feb. 21-27. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

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Over the past two calendar years, acquirers have agreed to pay more than $38 billion to purchase 1 venture-backed companies in Crunchbase biotech industry categories. So far, 2026 is off to a brisk start as well, with this month to pay up to $2.4 billion for , a startup focused on engineering immune cells in vivo.

Per Crunchbase data, 2025 and 2024 were two of the strongest years on record for biotech M&A. While we’re still below the 2021 peak, we’re also well past the subsequent low point, as charted below.

Largest deals in recent quarters

Since last year, at least nine funded U.S. biotech companies have sold in transactions valued at $1 billion or more, including potential milestone payments. Using Crunchbase , we assembled a list, ranked by deal size.

The largest deal was ’s purchase of , a developer of targeted oral therapies for solid tumors, for $3.05 billion in cash late last year. The pharma giant expressed particular interest in adding Halda’s clinical stage oral therapy for prostate cancer to its portfolio.

The two next-biggest acquisitions were both in the area of in vivo therapeutics, which enable a patient’s own body to generate cell therapies that can treat underlying disease.

One was Lilly’s aforementioned purchase of Watertown, Massachusetts-based Orna, which had  previously raised over $320 million in venture funding from lead backers including , and .

The other was ’s mid-2025 acquisition of , a clinical-stage biotech developing targeted in vivo RNA technologies, with an initial focus on autoimmune diseases. AbbVie agreed to pay up to $2.1 billion in cash to acquire the San Diego-based startup,which previously raised $340 million in venture funding.

Biotech funding share slides, and IPO volume remains weak

While some large acquisitions are happening, the overall picture for biotech funding and exit activity looks more muted.

Last year, less than 9% of all U.S. startup funding went to companies in Crunchbase biotech categories. That’s the lowest share in years, and largely a function of more capital going to companies in other hot sectors like generative AI.

In terms of total finding, biotech looks more stable. In 2025, just over $25 billion went to U.S. startups in the space, roughly flat year over year.

IPO activity is lower than usual. Last year, just 21 biotech, pharma or medical device companies went public, per Crunchbase data, the lowest number in years.

So far this year, we’ve had four debuts, including most recently the debut this month of , a developer of cancer therapies recently valued around $900 million.

Not a slump, and not a boom

Overall, biotech funding and exit data paints a picture of a sector that’s neither booming nor in a protracted slump. That’s not the most exciting place to be, but it can be quite viable for quite a long time.

Related Crunchbase query:

Related reading:

• In The Era Of Unicorn Valuation Escalation, A Trillion Dollars Isn’t What It Used To Be
• Biotech Share Of US Funding Hits Lowest Point In Crunchbase History
• Biotech Isn’t Partaking In The IPO Rebound

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Today, an estimated 50 million men and 30 million women in the U.S. face androgenetic alopecia, or heredity-linked hair thinning or baldness, the . And while there are some longstanding treatments, they commonly come with high cost, discomfort, side effects or inconsistent effectiveness.

Startups and their backers have taken note. Over the years, investors have poured hundreds of millions into companies working on hair-loss treatments and platforms to make them more widely available.

This week, public investors are also getting a fresh entry into the space. , a developer of an oral treatment for pattern hair loss, began trading on the . Its shares closed up 122% to $137.65 despite a mostly down day for broader markets, indicating investors are enthused about the product. The 7-year-old company trades under the ticker symbol MANE.

Veradermics itself raised around $256 million in the offering, which priced slightly above the projected range. The New Haven, Connecticut-based company plans to use the proceeds from the offering to help secure approval for its hair-loss drug and to support commercialization.

Not receding

Among startups working on hair regrowth, Veradermics has one of the more further-along treatment candidates. It plans to report topline results from one advanced trial in the first half of the year and from a Phase 3 trial in the second half. If all goes well, the company says it could be the first oral, nonhormonal FDA-approved therapy for pattern hair loss.

That said, it’s far from the only venture- or seed-backed company addressing the space. Using Crunchbase data, we put together a list of 10 startups funded in the past couple years with businesses centered around developing hair-loss treatments or making them more widely available.

Los Angeles-based is the largest funding recipient on the list, mostly due to a $120 million October Series B co-led by and . The startup is applying stem cell biology to develop regenerative medicines for hair loss and plans Phase 3 trials for its lead candidate later this year.

, an Irish startup focused on enabling at-home treatment for cancer patients, raised $21 million in an expanded Series A this month. It’s currently pursuing trials for a device aimed at reducing hair loss for chemotherapy patients.

And back in San Francisco, longevity startup has raised more than $46 million for a lineup of self-care products including a scalp serum that promotes thicker, denser hair.

Hair attracts high spending

It helps that hair is one of those aesthetic areas where people are more comfortable spending what it takes to get desired results. From premium shampoos and hair-care products to salon visits, many of us spend hundreds of dollars annually on our hair.

Hair-loss treatment represents a particularly large market. Per Veradermics, the current U.S. commercial opportunity for pattern hair-loss treatments is valued around $9 billion annually, despite low patient engagement and high dissatisfaction with today’s options.

������Ƶ would be willing to spend more too, if there were treatments they liked. Veradermics says its internal research found that 93% of pattern-hair-loss patients would like to address the condition, yet only 9% are satisfied with their current treatment.

Investors have put considerable capital behind backing that big market vision. Between 2021 and 2025, Veradermics raised more than $260 million from a long list of venture backers. Per its IPO prospectus, the current largest stakeholders are (11% post-IPO stake), followed by and , with about 6% each.

For now, it looks like public investors see plenty to support in that vision as well.

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

The pace of big funding rounds continued to hold up at brisk levels this past week, led by a $1.4 billion financing for “robot brain” developer . More big rounds went to startups in sectors including AI chips, brain-computer interfaces, defense tech, biotech and airplanes, among others.

1. , $1.4B, robotics: Skild AI, a robotics company building an “omni-bodied” brain to operate any robot for any task, announced it raised $1.4 billion, tripling its valuation to over $14 billion. led the Pittsburgh-based startup’s latest financing, which comes just over seven months after it raised a at a $4.5 billion valuation.

2. , $500M, AI and semiconductors: Etched.ai, a startup working on chips for AI superintelligence, reportedly $500 million in new funding. led the financing, which was said to set a $5 billion valuation for the Silicon Valley-based company.

3. , $252M, brain-computer interfaces: Merge Labs, a -founded startup based in San Francisco, which is working on brain-computer interfaces that interact with the brain at high bandwidth and integrate with advanced AI, reportedly locked up a $252 million seed round. According to reports, was the largest backer.

4. , $250M, biotech: San Diego-based Mirador Therapeutics, a precision medicine startup developing therapies for immune-mediated inflammatory and fibrotic diseases, it closed on $250 million in Series B funding. The company said the round brings total capital raised to more than $650 million since it launched in March 2024.

5. (tied) , $200M, defense tech: Defense tech startup Onebrief has raised another $200 million and reportedly acquired a small battle simulation company, . and led the Series D funding for Honolulu-based Onebrief, which makes AI-driven collaborative and planning software used for military operations.

5. (tied) , $200M, media: , an Ethereum treasury company, that it made a $200 million equity investment into Beast Industries — also known as MrBeast — the Greenville, South Carolina-based entertainment and consumer products company founded by creator .

7. , $175M, aerospace: Long Beach, California-based JetZero, a developer of planes with much higher fuel efficiency and lower carbon emissions than existing commercial airliners, picked up $175 million in Series B financing led by . Founded in 2020, JetZero says it is looking to enter commercial service in the early 2030s.

8. , $143M, voice AI: Deepgram, an API platform for voice AI, secured $130 million in Series C funding led by at a $1.3 billion valuation. San Francisco-based Deepgram also announced that it acquired , an AI voice platform for restaurants and drive-thru operators.

9. , $136M, defense tech: Colorado Springs, Colorado-based Defense Unicorns, a provider of software delivery for national security mission systems, locked up $136 million in a Series B round led by .

10. (tied) , $120M, robotics: Mytra, a developer of industrial robotics technology for warehouse operations, raised $120 million in a Series C round led by . Founded in 2022, Brisbane, California-based Mytra has raised close to $200 million to date, .

10. (tied) , $120M, AI for manufacturers: Boston-based Tulip Interfaces, a developer of AI-enabled tools for manufacturers to digitize processes and improve production, says it secured $120 million in Series D funding backed by .

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of Jan. 10-16. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

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Venture and growth investors poured $425 billion into more than 24,000 private companies in 2025, per Crunchbase data. Funding gained 30% year over year, up from $328 billion in 2024.

All told, 2025 was the third-highest venture financing year on record, Crunchbase data shows, trailing only the peak years of 2021 and 2022.

Table of Contents

• Higher valuations, billion-dollar rounds
• US venture gains
• Industry analysis
• Quarterly funding
• Concentration and liquidity
• Methodology
• Glossary of funding terms

Higher valuations, billion-dollar rounds

Year-over-year funding growth concentrated in the largest rounds and in the AI sector, Crunchbase data shows. OpenAI, , , and each raised more than $5 billion in 2025. These five companies alone raised $84 billion, or 20% of venture capital funding in 2025 — an unprecedented amount for the largest fundings in any given year.

As a result, The Crunchbase ������Ƶ approached $7.5 trillion in value at the close of 2025, showing a more than $2 trillion increase in value compared to the close of 2024. That surge was driven in large part by the most valuable private companies including SpaceX (now with an $800 billion valuation), OpenAI ($500 billion), ($480 billion) and Anthropic ($183 billion). This gain in value was well above 2024 with a $400 billion rise by year end.

US venture gains

Last year was the second-highest year on record for U.S. startup funding as capital concentrated into the largest AI companies.

The U.S. also gained market share last year. Around $274 billion in startup capital was invested in U.S.-based companies in 2025, per Crunchbase data, representing 64% of global startup funding. That’s up from 56% of global venture investment in 2024. Contrast that with 2019 through 2023, when the U.S. market represented around 47% to 48% of global venture capital.

Industry analysis

Roughly 50% of all global venture funding in 2025 went to companies in AI-related fields, making artificial intelligence the leading sector for funding, as it was for the past three years.

Venture funding to AI reached $211 billion — up 85% year over year from $114 billion in 2024 — Crunchbase data shows. Funding to the AI sector in 2025 surpassed every year in the past decade, including the peak global funding year of 2021.

The second-largest industry in 2025 was healthcare and biotech with around $71.7 billion in funding, up slightly from 2024 amounts. Financial services was the third-largest sector for venture investment, receiving $52 billion. That’s up from $41 billion in 2024.

Other industries where funding gained ground year over year include aerospace, robotics, developer tools, cryptocurrency and defense.

Quarterly funding

The past five quarters’ funding totals have all been higher than previous quarters, driven by a surge in late-stage global funding. Funding in Q4 2025 was up 14% year over year and 13% quarter over quarter, reaching over $113 billion.

Late-stage funding in the fourth quarter totaled $66.5 billion, up slightly quarter over quarter and year over year, Crunchbase data shows. The largest late-stage rounds went to automated coding, energy, semiconductors, prediction markets and image-generation companies.

Early-stage funding reached $37 billion, up 20% quarter over quarter and up 36% year over year. Large early-stage rounds went to automated coding, security, robotics, self-driving and blockchain companies.

Seed funding reached $9.9 billion in Q4, flat quarter over quarter and up 12% year over year. Of those larger seed rounds, deals $20 million and larger accounted for just over a quarter of seed funding. (Seed fundings are often added to the Crunchbase dataset after the close of a quarter, with counts increasing over time.)

Concentration and liquidity

Last year was marked by capital concentration. Of the 10 most highly valued private companies, seven raised new funding at significantly higher valuations in 2025.

Close to 60% of invested capital went to 629 companies that raised rounds of $100 million or more, Crunchbase data shows. More than a third of global funding went to 68 companies that raised rounds of $500 million or more in 2025, compared to 24% of funding in 2024.

Meanwhile, global M&A in 2025 was the second-highest year on record. For the U.S. M&A market, 2025 dealmaking was the highest — even a notch higher than 2021 — with cybersecurity company Wiz acquired by Google in the largest M&A deal for a venture-backed company over all time.

The IPO market also opened up in 2025. With investors placing bigger bets on the most highly valued private companies, larger IPOs for venture-backed companies appear more likely in 2026 — another catalyst for venture funding to grow again this year.

Methodology

The data contained in this report comes directly from Crunchbase, and is based on reported data. Data is as of Jan. 4, 2026.

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

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

Glossary of funding terms

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

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

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

Technology growth is a private-equity round raised by a company that has previously raised a “venture” round. (So basically, any round from the previously defined stages.)

Related Crunchbase queries:

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Total valuations at the IPO price for these billion-dollar listings have reached $125 billion so far — more than doubling year over year.

“Coming into 2025, folks were optimistic about the IPO market,” said , a corporate partner at legal advisory firm who worked on the and IPOs on the issuer side and on as counsel for the underwriters.

There were a number of high-profile IPOs in 2025 before the government shutdown chilled the market, said Singh, who expects Q1 to be busier due to the hold up.

If interest rates continue to come down, he predicts a pretty good IPO market in 2026. “It is a fairly conducive macroeconomic environment,” Singh said.

In this market, “a profitable company — particularly one that either is an AI play or has a good story of how AI will be a tailwind for their business — are good candidates for a 2026 IPO,” he said.

2025 listings

Among the larger and most high-profile companies to list this year were New Jersey-based AI data center CoreWeave, San Francisco-based design platform Figma, San Francisco-based digital bank , and Sweden-based buy now, pay later fintech giant .

Among these four leading companies, CoreWeave was the best performing stock as of Dec. 16, 2025, having gained over 60% from its listing price.

Crypto valuations up

Leading sectors for the 23 U.S.-based billion-dollar listings were biotech and healthcare with six companies, blockchain and crypto with four companies, fintech with three companies, and  insurance and aerospace each with two companies.

The sectors overall that performed well were cryptocurrency and blockchain companies with New York-based stablecoin provider , San Francisco-based cryptocurrency exchange , and San Francisco-based blockchain lending firm all up from their listing prices, while New York-based crypto exchange platform lagged behind.

These 23 companies’ listing prices totaled $125 billion. That was well above the past three years, but below values seen in 2019 and 2020 before the IPO market took off in 2021.

Singh predicts in the back half of 2026 we will see some bigger listings. While there is this trend of staying private for longer, “you can’t match public market liquidity.”

“There’s still some uncertainty on valuations. As we see more of the tech IPOs go out, I think the valuations will stabilize, people will get a better sense of investor demand, and so hopefully we’ll see a more certain valuation environment,” he said.

Related Crunchbase queries:

Related reading:

• Yes, I’m Biased. But Still, Leading Unicorns Like Anthropic Should Be Prepping For IPOs
• SpaceX IPO At $1.5T Valuation Would Be 10x Larger Than Biggest VC-Backed Listing Of All Time
• Hottest Deals In Tech Push Crunchbase ������Ƶ Toward $7T In Value
• The Crunchbase ������Ƶ
• The MVPs Of The Startup World Are Still Getting More Valuable

Illustration:

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

With the winter holiday season nearly upon us, this was likely the last busy week of 2025 for big funding announcements. And as weeks go, it was certainly an active one.

Perennial megaround raiser was the top funding recipient by far, securing a fresh $4 billion in Series L funding (yes, that is a thing) at a $134 billion valuation. Next on the list were data security platform and nuclear microreactor company , followed by startups in healthcare, biotech, fintech and AI.

1. , $4B, data and AI: Databricks that it is raising over $4 billion in a Series L financing at a $134 billion valuation, led by , and . The 12-year-old, San Francisco-headquartered company also said it crossed the $4.8 billion revenue run-rate in its third quarter,  growing  over 55% year over year.

2. , $400M, cybersecurity: New York-based Cyera, provider of an AI-enabled data security platform, reportedly $400 million in a funding round led by at a $9 billion valuation. The financing brings total funding to date for the 4-year-old company to $1.7 billion.

3. , $300M, nuclear power: Radiant, a maker of portable nuclear microreactors, it closed on over $300 million in Series D funding led by and . The El Segundo, California-based company said it plans to break ground early next year on a factory in Oak Ridge, Tennessee.

4. , $250M, healthcare software: Tebra, a provider of patient record software for healthcare private practices, says it raised $250 million in equity and debt financing to invest in AI and automation. led the equity financing, which constituted most of the round, while provided the debt funding for the Corona del Mar, California-based company.

5. (tied) , $150M, fintech: New York-based Imprint, a provider of credit cards affiliated with consumer brands, raised $150 million in Series D funding at a $1.2 billion valuation. led the round, with participation from , , , and .

5. (tied) , $150M, satellite intelligence: HawkEye 360, a provider of technology to detect, geolocate and characterize radio-frequency emissions, says it landed $150 million in Series E equity and debt financing. and co-led the equity funding, while provided the debt. The Herndon, Virginia company says it also completed its acquisition of .

7. , $130M, biotech and AI: Chai Discovery, a startup that uses AI to predict and reprogram interactions between biochemical molecules, landed $130 million in a Series B round. and led the financing, which set a $1.3 billion valuation for the San Francisco-based company.

8. (tied) , $125M, biotech: Irvine, California-based Ambros Therapeutics launched publicly with a $125 million Series A financing co-led by and ‘s strategic health care investment arm . The company licensed the rights to neridronate, which is used to treat Complex Regional Pain Syndrome.

8. (tied) , $125M, microprocessors: Mythic, an Austin-based startup developing semiconductor architecture to make AI computing more energy efficient, raised $125 million in a funding round led by and joined by a long list of venture investors.

10. , $120M, biotech: Cambridge, Massachusetts-based Atavistik Bio, a developer of  allosteric small molecule therapeutics, raised $120 million in Series B funding led by and . Founded in 2021, Atavistik has raised $220 million in known funding to date, per .

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of Dec. 13-19. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

Illustration:

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

Startup investors this week demonstrated continued willingness to write big checks for promising companies in sought-after areas. Leading the pack was , an AI identity security platform that picked up a fresh $700 million.

The next three largest rounds — , and — all shared some focus on energy. The rest of the list included companies in AI, biotech and space tech.

1. , $700M, AI identity security: Saviynt, a provider of AI-optimized identity security tools, that it secured $700 million in Series B financing. led the round, which set a $3 billion valuation for the 15-year-old, El Segundo, California-based company.

2. , $475M, AI energy efficiency: Unconventional AI, a startup designing a computer to optimize energy efficiency for AI, raised $475 million in seed funding. and led the financing for the San Francisco Bay Area company.

3. , $462M, geothermal energy: Houston-based Fervo Energy, a developer and operator of geothermal energy projects with a focus on technologies to scale this power source, $462 million in Series E funding led by . The funding will go toward a geothermal project in Western Utah as well as other projects in its pipeline.

4. , $300M, fast airplanes, turbines: Boom Supersonic, a Denver company working to build what it says will be the world’s fastest airliner, $300 million led by . In addition to its planes, Boom is also attracting investor interest for its Superpower natural gas turbine that can also have applications in delivering energy to AI data centers.

5. , $250M, space tech: Torrance, California-based K2 Space, developer of a platform for building large, high-power satellites, landed $250 million in Series C funding. led the round, which set a $3 billion valuation for the company, which was founded in 2022.

6. , $240M, software development: Harness, a developer of tools to automate and simplify software delivery processes, raised $200 million in Series E funding and $40 million in a planned tender to provide liquidity to long-term employees. led the Series E, which set a $5.5 billion valuation for the 8-year-old company.

7. , $158M, medical devices: Marlton, New Jersey-based Impulse Dynamics, a medical device company focused on patients with heart failure, secured over $158 million in a funding round led by and . The financing follows an announcement from the extending coverage for its device.

8. , $140M, generative AI: Fal, developer of a real-time generative AI platform for video, images, 3D and audio, picked up $140 million in a Series D financing Led by . The round was the third this year for San Francisco-based Fal, which closed a Series C in July and a Series B in February.

9. , $110M, biotech: Sanegene Bio, a biotech startup focused on developing RNAi-based therapeutics, said it raised over $110 million in Series B funding from a long list of venture investors. Founded in 2021, the startup is headquartered in Boston with significant operations in China.

10. , $84M, biotech: San Diego-based BlossomHill Therapeutics, a developer of medicines to treat cancer, pulled in $84 million in Series B extension funding. , and led the financing for the 5-year-old company.

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of Dec. 6-12. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

Illustration:

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

We took a break from covering the largest U.S. startup investments over Thanksgiving week, which was just as well, given that it was a predictably slow period for big deal announcements. Now, with just a few weeks left in 2025, things are picking up again.

Predictions market led the list after confirming its already widely reported $1 billion fresh financing. Other big rounds came from sectors including defense tech, AI infrastructure, cybersecurity and biotech.

1. , $1B, predictions market: A couple weeks ago, we included Kalshi in our Top 10 after the company reportedly secured $1 billion in fresh funding. Well, now it’s official, with from the fast-growing New York-based predictions marketplace. Crypto-focused investor led the financing, with participation from a long list of venture firms.

2. , $350M, defense tech: Castelion, a developer of hypersonic munitions, it raised $350 million in Series B financing led by and . The Torrance, California-based company was founded by alum in 2022.

3. , $300M, cloud data: New York-based Eon, a provider of cloud data backup technology for enterprise AI, $300 million in a Series D led by of . The round brings Eon’s total funding to $500 million since its founding less than two years ago and increases its valuation to $4 billion.

4. , $150M, health insurance: Curative, a startup that markets a free out-of-pocket health plan, picked up $150 million in a Series B round led by . The financing values the Austin-based company at $1.27 billion.

5. , $134M, health insurance: San Francisco-based Angle Health, an AI platform for healthcare benefits, closed on $134 million in Series B funding led by . The round included a combination of debt and equity, bringing total funding to nearly $200 million, according to the company.

6. (tied) , $130M, cybersecurity: 7AI, a developer of tools for scaling AI agents to do security work, pulled in $130 million in a Series A led by . The funding round comes just 10 months after the Boston-based company launched out of stealth mode.

6. (tied) , $130M, biotech: Protego Biopharma, a startup therapeutics that aims to reprogram protein folding to address multiple diseases and disorders, raised $130 million in Series B funding. and led the financing for the San Diego-based company.

8. , $120M, biotech: Lexington, Massachusetts-based Triana Biomedicines, developer of a molecular glue discovery platform, $120 million in Series B financing. and co-led the round.

9. , $105M, simulation testing: Antithesis, a developer of simulation testing tools for software systems, raised $105 million in Series A funding. led the financing for the Tysons Corner, Virginia-based startup.

10. , $100M, AI server chips: Axiado, developer of a chip designed to save space and power in artificial intelligence servers, secured $100 million in a Series C+ round. led the investment for the San Jose, California-based company.

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of Nov. 28-Dec. 5. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

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