The Week’s 10 Biggest Funding Rounds: Transportation And Biotech Take The Lead
Transportation and biotech were leading themes among this week’s largest U.S. funding recipients. This includes the week’s largest round, a $650 million financing for electric pickup truck maker Slate Auto. Other sizable investments went to spaces including drug development, autonomous public transit and software engineering.
1. Slate Auto, $650M, electric vehicles: Troy, Michigan-based Slate Auto, a developer of lower-cost electric pickup trucks that can be customized as SUVs, raised $650 million in Series C funding led by TWG Global. The Jeff Bezos-backed company said it plans to deliver its first vehicles to customers later this year.
2. Beeline Medicines, $300M, biotech: Beeline Medicines, a Boston-based developer of precision therapies for autoimmune and inflammatory diseases, emerged from stealth with $300 million in Series A funding led by Bain Capital. The company’s initial portfolio includes five programs licensed from Bristol Myers Squibb.
3. Glydways, $170M, autonomous transportation: Glydways, a developer of personal autonomous pods designed to operate on dedicated lanes, closed on $170 million in Series C funding. Suzuki Motor, ACS Group and Khosla Ventures led the financing for the San Francisco-based company, which is launching operational pilots in three cities this year.
4. Factory, $150M, AI software development: Factory, a startup focused on bringing autonomy to software engineering, secured $150 million in a Series C round led by Khosla Ventures. The financing set a $1.5 billion valuation for the 3-year-old, San Francisco-based company.
5. Terremoto Biosciences, $108M, biotech: South San Francisco, California-based Terremoto Biosciences, a developer of small molecule medicines for cancer and rare diseases, raised $108 million in Series C funding from backers including RA Capital Management, Deep Track Capital, Osage University Partners and BeOne Medicines.
6. (tied) Zum, $100M, student transportation: Zum, a provider of a platform for optimizing K-12 student transportation, secured $100 million in new funding from TPG. Founded in 2015, Redwood City, California-based Zum has raised about $500 million in known funding to date, per Crunchbase data.
6. (tied) Neomorph, $100M, biotech: Neomorph, a developer of cancer therapeutics, closed on $100 million in Series B funding to support clinical trials. Deerfield led the financing for the San Diego-based company.
6. (tied) Slash, $100M, fintech: San Francisco-based Slash, a business banking platform, picked up $100 million in a Series C round led by Ribbit Capital, Khosla Ventures and Goodwater Capital. The financing set a $1.4 billion valuation for the company, which said it surpassed $250 million in annualized revenue in 2025.
9. nEye, $80M, semiconductors: nEye, a developer of integrated optical interconnects for data center connectivity, raised $80 million in Series C financing led by Sutter Hill Ventures. Founded in 2020, Silicon Valley-based nEye has raised $152 million in funding to date.
10. Turion Space, $75M, space tech: Irvine, California-based Turion Space, a provider of an orbital intelligence and operations platform, secured over $75 million in a Series B round led by Washington Harbour Partners.