The Week’s 10 Biggest Funding Rounds: AI, Energy And Biotech Lead The Way
U.S. startups announced sizable funding rounds at a steady clip during a truncated holiday week, with energy and AI leading the way.
Houston-based energy startup Joulent secured the biggest round, a $1.75 billion strategic financing, followed by Together AI, a developer of infrastructure for companies running open source AI models, and LeapXpert, a provider of compliance tools for enterprises.
Other big rounds were for companies focused on therapeutics, homebuilding, and even lacrosse.
1. Joulent, $1.75B, energy: Houston-based Joulent, a provider of energy infrastructure focused on the demands of artificial intelligence and other compute-intensive industries, raised $1.75 billion in a strategic investment backed by National Grid through its National Grid Ventures arm.
2. Together AI, $800M, AI infrastructure: Together AI, developer of an infrastructure layer for companies running open source AI models, secured $800 million in Series C financing. Aramco Ventures led the round, which set an $8.3 billion post-money valuation for the San Francisco-based startup.
3. LeapXpert, $180M, compliance: LeapXpert, a provider of tools for tracking enterprise communications for compliance needs, closed on $180 million in growth financing. Riverwood Capital led the financing for the New York-based company.
4. 8090 Solutions, $135M, AI software development: Redwood City, California-based 8090 Solutions, developer of a platform for building enterprise software with coordinated AI agents under human-led oversight, picked up $135 million in a round led by Salesforce . The company, founded in 2024, counts prominent startup investor Chamath Palihapitiya as co-founder and CEO.
5. Beeline Medicines, $126M, biotech: Boston-based Beeline Medicines, a startup focused on precision therapies for autoimmune and inflammatory diseases, secured $126 million in Series A extension funding backed by Bain Capital, CPP Investments and Bristol-Myers Squibb. The financing follows a previously disclosed $300 million Series A.
6. (tied) Premier Lacrosse League, $100 million, professional sports: The Premier Lacrosse League, a men’s professional lacrosse league in North America, closed a $100 million Series E financing round led by Ares Management and Joe Tsai. New York-based PLL said the deal represents the largest capital raise in the history of professional lacrosse.
6. (tied) Twelve Labs, $100M, video-based AI: Twelve Labs, a San Francisco-based startup developing AI systems trained on video archives, raised $100 million in a Series B round co-led by New Enterprise Associates and Naver Ventures.
8. Higharc, $95M, AI for homebuilding: Higharc, a developer of AI-enabled tools for designing homes and managing workflows around homebuilding, picked up $95 million in Series C funding. Insight Partners led the financing for the Durham, North Carolina-based company.
9. Flare Therapeutics, $85M, biotech: Cambridge, Massachusetts-based Flare Therapeutics, a startup targeting transcription factors to develop treatments for cancer and other ailments, raised $85 million in Series C funding led by Third Rock Ventures and Nextech Invest.
10. Venice, $65M, AI privacy: Venice, developer of a platform enabling private, surveillance-free access to a wide array of AI models, secured $65 million in Series A funding led by Dragonfly. The round set a $1 billion valuation for the 2-year-old Sheridan, Wyoming-based startup.