The Week’s 10 Biggest Funding Rounds: Enterprise AI, Space Tech And Biotech Top The Ranks
Another week, another infusion of big AI rounds. For this past week, the largest fundraiser by a long shot was Sierra, a developer of AI customer experience tools that picked up $950 million. Other big rounds went to companies in sectors including satellite development, biotech, and, yes, more vertical AI and AI infrastructure.
1. Sierra, $950M, customer experience AI: Sierra, a provider of AI-driven tools for customer experience management, raised $950 million in fresh funding at a $15 billion valuation. Google Ventures and Tiger Global led the financing for the three-year-old, San Francisco-based company.
2. Astranis, $455M, space tech: Astranis, a developer of advanced satellites for high orbits, secured $450 million in equity and debt investment. The financing included a $300 million Series E equity round led by Snowpoint Ventures and Franklin Templeton and up to $155 million in credit through Trinity Capital.
3. Anagram Therapeutics, $250M, biotech: Natick, Massachusetts-based Anagram Therapeutics, a developer of a pill for people living with exocrine pancreatic insufficiency due to cystic fibrosis, pancreatic cancer and related disorders, closed on $250 million in new funding from Blackstone Life Sciences.
4. Blitzy, $200M, AI software development: Blitzy, developer of an autonomous software development platform, picked up $200 million in fresh funding at a $1.4 billion valuation. Northzone led the financing for the Cambridge, Massachusetts-based company.
5. Corgi Insurance, $160M, insurance: Corgi Insurance, provider of an AI-native insurance platform for startups, secured $160 million in Series B funding. TCV led the financing, which set a $1.3 billion valuation for the San Francisco-based company.
6. Panthalassa, $140M, renewable energy: Portland, Oregon-based Panthalassa, which aims to perform AI inference computing at sea using power generated from ocean waves, raised $140 million in a Series B financing led by Peter Thiel.
7. Reserv, $125M, insurance: Reserv, a provider of third-party administrator services to the insurance industry, closed on $125 million in a Series C funding round led by KKR. Launched in 2022, New York-based Reserv has raised over $200 million in known funding to date, per Crunchbase data.
8. DeepInfra, $107M, AI infrastructure: DeepInfra, a cloud platform for high-throughput AI inference, landed $107 million in Series B funding. Georges Harik and 500 Global led the financing for the four-year-old, Palo Alto, California-based company.
9. Tessera Labs, $60M, vertical AI: San Jose, California-based Tessera Labs, developer of an AI platform for enterprise ERP systems and data, secured $60 million in a funding round led by Andreessen Horowitz.
10. Astrocade, $56M, gaming: Astrocade, developer of an AI platform for creating, building and playing games, announced $56 million in new funding. The funding for the Los Altos, California-based company includes a Series B led by Sequoia Capital and a Series A led by Sea, Astrocade said.