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This is a weekly feature highlighting the top 10 funding rounds announced that week in the US. Check out last week’s biggest funding rounds here.
After a slow Thanksgiving week, investors made up for lost time with a big funding round. Venture capitalists have spread their money fairly freely, making big investments in semiconductors, biotechnology, carbon capture, and more.
1. Tenstorrent, $693 million, semiconductors: Jim Keller’s chip startup Tenstorrent has raised nearly $700 million in Series D funding, giving it a valuation of $2.6 billion. The capital injection was led by Samsung Securities and AFW Partners, with participation from Jeff Bezos’ Bezos Expeditions and Fidelity Management & Research. Tenstorrent said it plans to use the new funding to “build an open source AI software stack, hire developers, expand its global development and design centers, and build systems and clouds for AI developers.” are. The Santa Clara, California-based startup was founded in 2016 and has since raised more than $1 billion, according to Crunchbase.
2. Nuvig Therapeutics, $161 million, biotech: This week’s big biotech round is Menlo Park, Calif.-based Nuvig Therapeutics, a joint venture between Sanofi Ventures and Blue Owl Healthcare Opportunities (formerly Cowen Healthcare). Led by the company and raised $161 million in Series B. Investment) and Norwest Venture Partners. This biotech startup is developing immunomodulatory therapies for patients with inflammatory autoimmune diseases. The company is currently preparing a treatment that is scheduled to enter Phase 2 clinical development. The company was founded in 2021 and has raised $208 million, according to Crunchbase.
3. Heirloom, $150M, Carbon Capture: Direct air capture company Heirloom has raised $150M in Series B funding led by Future Positive and Lowercarbon Capital. The Brisbane, California-based climate technology company uses modified limestone to capture CO₂ from the atmosphere. Heirloom’s new funding comes at the height of an investment boom in carbon capture startups. Funding for the sector is on track to reach its highest or second-highest annual tally since it began tracking the category, according to data from Crunchbase. The company was founded in 2020 and has raised more than $204 million to date.
4. Tractian, $120M, Manufacturing: Manufacturing AI startup Tractian is the latest company to capitalize on emerging technology to attract investor attention, raising $120M in Series C led by Sapphire Ventures. We have raised funds. The Atlanta-based company’s AI efforts are very simple. Hardware, software, and AI can be combined to help modernize manufacturing maintenance processes. The company, which calls itself an “industrial co-pilot,” is increasingly concerned about industrial maintenance, with unplanned downtime costing the world’s 500 largest companies 11% of annual revenue, or about $1.4 trillion. concerns are addressed. Founded in 2019, Tractian has raised more than $180 million, according to Crunchbase. In August 2023, the company completed a $45 million growth capital round led by General Catalyst.
5. Maze Therapeutics, $115 million, biotech: South San Francisco-based Maze Therapeutics is a clinical-stage biotechnology company developing treatments for kidney, cardiovascular, and metabolic diseases. The company completed a $115 million Series D in pharmaceuticals, co-led by investors Deep Track Capital and Frasier Life. Science. This round involved the conversion of issued convertible notes. The company was founded in 2018 and has raised $496 million to date.
6. Cleary, $106 million, Healthcare: Cleary, a Denver-based cardiovascular imaging startup, has raised $106 million in Series C expansion funding led by Insight Partners. The company was founded in 2017 and has raised approximately $387 million to date, according to Crunchbase.
7. Public, $105 million, fintech: Investment platform Public has raised $135 million in equity and debt financing to expand its AI-powered research capabilities. The funding, described by New York-based Public as a Series D-2, included $105 million in equity and $30 million in debt, with Accel as the lead investor. Founded in 2019, the company has raised more than $300 million in venture funding.
8. Upwind Security, $100 million, Cybersecurity: Cloud security becomes important as more companies move large amounts of data to the cloud. Cloud security company Upwind was able to capitalize on that trend, raising $100 million in a round led by Craft Ventures. The San Francisco-based startup is reportedly valued at an estimated $900 million after the new funding. The company was founded in 2022 and has raised $180 million.
9. AMP Robotics, $91 million, recycling: Denver-based AMP Robotics, which develops AI-powered sorting systems for the waste and recycling industry, has raised $91 million in Series D led by Congruent Ventures. . The company was founded in 2015 and has raised $266 million to date, according to Crunchbase.
10. Axiado Corp., $60 million, Cybersecurity: San Jose, California-based hardware security startup Axiado has raised $60 million in Series C led by Maverick Silicon. The company was founded in 2017 and has raised $105 million.
Large scale global transactions
It was a slow week for non-U.S. funding, with only one round reaching nine figures.
methodology
We tracked the largest rounds announced in the Crunchbase database raised by US-based companies over a seven-day period from November 30th to December 6th. Most announced rounds are visible in the database, but there may be a slight lag. As some rounds will be reported later in the week.
Illustration: Dom Guzman
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