The past week saw a diverse mix of large startup financings, with large rounds in sectors ranging from event-based betting to artificial intelligence to energy to biotech. The leader in the group in terms of round size was the forecasting market platform Polimarket and open standards-oriented AI startups AI reflectioneach of which raised $2 billion.
1. (related) Polimarket$2 billion, prediction market: Intercontinental Exchangeoperator of clearing houses and exchanges, among others New York Stock Exchange, announced that it should invest as much as $2 billion in its Polymarket prediction marketplace platform. The deal sets an $8 billion pre-money valuation for New York-based Polymarket, which allows users to position bets on the probabilities of events in a variety of markets, politics, sports and other areas.
1. (related) AI reflection$2 billion, artificial intelligence: New York-based Reflection AI, developer of open standards-based LLM training models, raised $2 billion in one yr (*10*)financing round supported by Nvidia and a long list of enterprise investors. This financing reportedly values Reflection at $8 billion 15x a quote he obtained just seven months ago.
3. Base power1 billion dollars, battery power: Base Power, an Austin, Texas-based residential electricity provider, has secured $1 billion in Series C financing led by Addition. Founded in 2023, Base has raised $1.3 billion in known funding so far, for crunchbase data.
4. Stoke SpaceUSD 510 million, space technologies: Stoke Space, a developer of reusable launch vehicles, raised $510 million in Series D funding led by American Fund for Innovative Technologies combined with a $100 million debt facility led by Silicon Valley Bank. The funds can be used to extend the production capability of the launch vehicle and activate the launch complex at Cape Canaveral.
5. Expeditionary therapyUSD 165 million, biotechnology: San Francisco-based Expedition Therapeutics, a developer of therapies for inflammatory and respiratory diseases, has closed $165 million in Series A financing, co-led by: Sofinnova investments AND Novo Holdings Company. The funding will support a Phase 2 trial of a drug candidate for the treatment of chronic obstructive pulmonary disease.
6. EvenUp$150 million, legal technology: EvenUp, a legal tech startup creating artificial intelligence products for the personal injury industry, has received $150 million in Series E funding. Repeat Sponsor Partners of the Bessemer enterprise led a round that values the San Francisco startup at greater than $2 billion.
7. Duets$130 million, health advantages: Minneapolis-based Duos, a digital health platform focused on Medicare beneficiaries, has locked $130 million in a growth equity investment led by FTV capital. Founded in 2020, Duos has raised over $160 million in high-profile funding so far.
8. Nilo TherapeuticalUSD 101 million, biotechnology: Nilo Therapeutics, a startup focused on developing therapies based on advances in neuroimmunology, launched with a $101 million Series A round. Column group, BIODCVC AND Capital Lux led the financing of the New York company.
9. Torla biotherapeuticsUSD 96 million, biotechnology: Torl Biotherapeutics, a startup focused on antibody-based immunotherapies for cancer patients, has closed a $96 million Series C round. The Los Angeles-based company didn’t disclose investors but said the funds can be used to advance multiple ongoing clinical trials.
10. Harvey$59 million, legal technology: Harvey, a provider of AI-powered tools for lawyers, raised $59 million EQT increase whose aim is to support international expansion. The financing brings San Francisco Harvey’s total reported funding so far to $865 million, the majority of which can be secured in 2025.
Methodology
We tracked the largest announced rounds raised by U.S. corporations between October 4-10 in the Crunchbase database. While most announced rounds are represented in the database, there could also be a slight delay as some rounds are reported late in the week.