The Week’s 10 Biggest Funding Rounds: A Busy Week For Big Financings, Led By Databricks And PsiQuantum
This past week was a busy period for mega-sized funding rounds, with all 10 of the largest U.S. financings exceeding the $100 million mark. Topping the list were billion-dollar financings for AI data platform Databricks and quantum computing startup PsiQuantum. Overall, we saw robust investor interest across AI, healthcare, spacetech and fintech.
1. (tied) Databricks, $1B, AI data platform: Databricks said it raised $1 billion in Series K funding co-led by Andreessen Horowitz, Insight Partners, MGX, Thrive Capital and WCM Investment Management. The financing sets a valuation of over $100 billion for the San Francisco-based company, which says it has surpassed a $4 billion revenue run-rate and is growing over 50% year over year.
1. (tied) PsiQuantum, $1B, quantum computing: Palo Alto, California-based PsiQuantum, which is hoping to build the “world’s first commercially useful, fault-tolerant quantum computers,” announced that it secured $1 billion in Series E funding. BlackRock, Temasek and Baillie Gifford led the round, which set a $7 billion valuation for the company.
3. Cognition, $400M, AI: AI coding startup Cognition locked up over $400 million at a $10.2 billion post-money valuation. Founders Fund led the financing for the 2-year-old, San Francisco-based company.
4. Strive Health, $300M, kidney care: Denver-based Strive Health, a care provider for patients with kidney disease, closed on $300 million in Series D equity funding led by New Enterprise Associates. Strive also raised $250 million in debt financing led by Hercules Capital.
5. Odyssey Therapeutics, $213M, biopharma: Odyssey Therapeutics, a biopharmaceutical startup focused on autoimmune and inflammatory diseases, picked up $213 million in Series D funding from a long list of new and existing investors. Boston-based Odyssey filed to go public in January but withdrew the planned offering in June.
6. (tied) Perplexity, $200M, GenAI: GenAI startup Perplexity reportedly secured $200 million in fresh capital at a $20 billion valuation. To date, San Francisco-based Perplexity has raised $1.5 billion in known funding, per Crunchbase data.
6. (tied) Torus, $200M, modular power plants: Utah-based Torus, a provider of modular power plants for utilities, data centers and other customers, announced a $200 million investment by Magnetar Capital. The company is also now preparing to open GigaOne, a 540,000-square-foot manufacturing campus in Salt Lake City.
6. (tied) Apex, $200M, spacetech: Los Angeles-based Apex, a manufacturer of satellite products, landed $200 million in Series D funding led by Interlagos Capital. The round reportedly brings Apex’s valuation to $1 billion.
9. Harbour Health, $130M, health care and insurance: Harbour Health, a provider of primary care services and coverage, picked up $130 million in new funding co-led by General Catalyst, 8VC and Alta Partners. To date, the 4-year-old, Austin, Texas-based company has raised over $255 million in known funding.
10. Speedchain, $111M, fintech: Atlanta-based Speedchain, a provider of credit cards and expense management tools for businesses, secured $111 million in equity and debt funding. Community Investment Management extended the debt financing, while GTMfund, Village Global, TTV Capital, K5 Global, Tandem Ventures and Emigrant Bank provided the equity.