This week has been a busy one with big rounds, led by a $500 million financing for a crypto unicorn Ripple and AI-enabled parking service provider Metropolis. We’ve also seen a lot of huge funding for biotech startups, in addition to some big rounds for cybersecurity and enterprise software.
1. (related) Ripple$500 million, cryptocurrency: San Francisco-based cryptocurrency payments company Ripple raised $500 million at a $40 billion valuation. Funds managed by affiliates of Fortress Investment Group AND Citadel Securities led the investment together with Panther Capital, Digital Galaxy, Brevan Howard AND Marshall Wace.
1. (related) Metropolis500 million dollars, parking: Metropolis, an AI-powered ticketless parking platform, announced that it has secured $1.6 billion in debt and equity financing, including a $500 million Series D at a $5 billion valuation. Lion Tree led the equity financing of Los Angeles-based Metropolis JP Morgan Chase Bank issued a $1.1 billion term loan.
3. Arms$435 million, cybersecurity: Armis, a provider of tools for monitoring cyber risk exposures, closed the deal on $435 million in what it called a pre-IPO financing round. Goldman Sachs Growth Fund led the financing that set a $6.1 billion valuation for the 10-year-old San Francisco-based company.
4. Synchronous$200 million, neurotechnology: Synchron, a developer of non-surgical brain-computer interface technology, raised $200 million in Series D funding led by Two-point ventures. The New York company wants to make use of its technology to revive communication and mobility to people with paralysis.
5. Hippocrates’ artificial intelligence$126 million, artificial intelligence in healthcare: Hippocratic AI, a developer of generative AI healthcare agents, has raised $126 million in Series C funding. Future led the round that valued the Palo Alto, California-based company at $3.4 billion.
6. MoEngage$100 million, marketing automation: MoEngage, an AI-enabled customer engagement platform, raised $100 million in latest funding with apparently 60% will go to the company, and 40% for secondary sale of shares. Goldman Sachs Alternatives AND A91 Partners managed the financing.
7. Infravision$91 million, aerospace robotics: Infravision, a company that goals to remodel the way power lines are built and maintained using aerial robotics, has raised $91 million in Series B funding. Singapore GIC led the financing of a 7-year-old startup based in Austin.
8. Reeva$80 million, AI tools to enter the market: Santa Clara, California-based Reevo, developer of an AI platform for managing go-to-market strategy and processes, launched publicly and announced raised $80 million in financing co-authored by him Khosla ventures AND Little Perkins.
9. Neok BiographyUSD 75 million, biotechnology: Palo Alto, California-based startup Neok Bio, which is developing antibody-drug conjugates to enhance cancer treatment outcomes, has emerged from stealth with $75 million backed by a Korean biotech company Bio.ABL.
10. Therapeutic azalea$65 million, genomic drugs: Berkeley, California-based Azalea Therapeutics, a developer of precision genomics medicines, has launched a stealth operation and announced that it has raised $65 million in a Series A round led by Third rock ventures.
Methodology
In the Crunchbase database, we tracked the largest announced rounds that were registered by US-based firms between November 1-7. 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.