It was a huge week for startups raising big money. An organization had to boost nine figures to make the list this week, and five raised $200 million or more. It’s unlikely we’ll see those rounds in the coming week in a short week, so don’t expect the same dollar amounts in the next seven days.
1. Sila Nanotechnologies$375 million battery: This week, a company that makes materials for next-generation batteries led the way with a massive round. Alameda, Calif.-based Sila, a company that makes materials for next-generation batteries, announced that it has raised $375 million in a Series G round led by existing investors Sutter Hill’s ventures and funds and accounts advised by T. Rowe Price Associates. The latest money will help the company complete construction of a facility in Moses Lake, Washington — scheduled for the first quarter of next yr — to supply Titan Silicon anode material. Founded in 2011, the company raised USD 1.4 billion, on Crunchbase.
2. Biography of the Formation$372 million, biotechnology: There’s a big raise in biotech every week, and this week’s is a really big one. Formation Bio, an AI-powered pharmaceutical company, raised $372 million in a Series D round led by a16z. The New York-based startup, launched in 2016 as TrialSpark, has built AI-enabled platforms and processes to speed up drug development and clinical trials by integrating large language models, AI models and applications across its platform. More and more biotech startups are using artificial intelligence to assist with pharmaceutical processes, and investors are clearly taking notice. Founded in 2013, the company has raised $528 million in keeping with Crunchbase.
3. CData SoftwareUSD 350 million, data integration: The round that probably flew off most individuals’s radar was a massive $350 million growth round by data connectivity company CData Software from two well-known corporations. He led the round Warburg’s Pincuswith participation from Acceleration. Headquartered in Chapel Hill, North Carolina, the company develops data products and connectivity solutions that provide access to live data from a whole lot of on-premises and cloud applications. Founded in 2016, the company has raised $510 million in keeping with Crunchbase.
4. (sure) Creative$200M Customer Relationship Management: Low-code and no-code startups don’t get the funding they did a few years ago, but it clearly hasn’t completely dried up. Creatio achieved unicorn status after raising $200 million in a funding round led by Sapphire Projects. The latest money, a minority investment, values the startup at $1.2 billion and might be used to assist the company expand globally because it continues to grow revenue by 50% yr over yr. The Boston-based startup is the creator of a no-code platform that automates customer relationship management and enterprise workflows. It’s no surprise that the company has tapped into artificial intelligence — creating a latest generative AI co-pilot that can assist automate various marketing and sales tasks. Founded in 2014, Creatio previously raised $68 million in 2021 in a round led by Willpower Capital, in keeping with Crunchbase.
4. (tied) Smart food$200 million, healthcare: Foodsmart has raised a massive $200 million funding round led by TPGglobal impact investing platform, Growth Fund. The San Francisco-based company developed a telenutrition and food profit management platform. Founded in 2010, Foodsmart helps people struggling with chronic illness and food insecurity by partnering with health plans and providers to offer patients with reasonably priced healthy eating options, virtual nutrition counseling and meal plans. Foodsmart has raised nearly $315 million, in keeping with Crunchbase.
6. Sidecar Health$165 million, healthcare: Healthcare is a mess – almost everyone can agree with this. Sidecar Health, a business medical health insurance company, closed a $165 million Series D led by Koch Disruptive Technologies attempt to untangle it at least a little. The El Segundo, California-based startup offers plans that eliminate the need for prior authorizations, referrals and doctor networks — allowing patients to go wherever they need. Sidecar Health believes a free-market approach will make health care more accessible and reasonably priced. The company, founded in 2018, has raised $328 million, on Crunchbase.
7. Evolutionary scale$142 million, biotechnology: It was a big week for biotech. New York-based EvolutionaryScale, which has developed a large language model for creating latest proteins, has raised $142 million in seed funding, led by Daniel Gross, Capital Lux AND Nat Friedman. Amazon Web Services AND Projectsenterprise capital arm Nvidiaalso participated in this round. While the company’s AI could be used to speed up drug discovery, it is believed it may be used for other applications, corresponding to breaking down plastic.
8. etched.ai$120 million, semiconductors: Etched.ai has develop into the latest startup to profit from a wave of investor enthusiasm for AI chips. The San Francisco-based startup raised $120 million in a funding round led by Positive sum AND Main enterprise capital partners. The startup is the creator of the Sohu AI system specialized in transformers, used for training and implementing large language models constituting the basis of generative artificial intelligence. Etched announced a collaboration with Taiwan Semiconductor Manufacturing Co. produce a chip that might be a direct competitor to chip giant Nvidia — which dominates the AI market. But AI’s high power consumption stays a concern, and Etched believes it might probably deliver a cheaper and energy-efficient chip that’s faster.
9. Bright MachinesUSD 106 million, production: San Francisco-based manufacturing software developer Bright Machines raised $126 million in Series C financing – $106 million of equity capital got here from investments from funds and accounts managed by Black RockFounded in 2018, Bright Machines has raised greater than $400 million, in keeping with company data.
tenth (draw) Hebbia$100M, AI: New York-based Hebbia, a startup that uses generative AI to sift through large documents and find answers, has raised nearly $100 million in a Series B round led by Andreessen Horowitz. Founded in 2020, the company has raised over $130 million, on Crunchbase.
tenth (draw) LanzaJet$100 million, fuel: Chicago-based sustainable fuels technology company LanzaJet has announced a $100 million round of growth capital. Investors include Mitsubishi UFG Financial.
Great global offers
There were some big rounds outside the US this week. The biggest was:
- Based in Turkey Powerwhich provides on-demand delivery services, has raised a $250 million enterprise round.
Methodology
We tracked the largest announced rounds in the Crunchbase database that were raised by US-based corporations over the seven-day period from June 22-28. Although most announced rounds are included in the database, there could also be a slight delay as some rounds are reported late in the week.