After a quiet holiday week, investors got back into the swing of things, doling out big rounds to startups in robotics, biotech, healthcare, and more. Half a dozen rounds reached nine figures—perhaps a good sign for startups for the rest of the summer.
1. Separate AI$300 million, robotics: The strong 12 months for robotics startups continued this week as Skild AI became the latest such startup to raise big money, locking down $300 million in a Series A round led by Coat, Lightspeed Venture Partners, SoftBank Group AND Jeff Bezosby his Bezos’s Expeditions. The funding gave the company a $1.5 billion valuation. The Pittsburgh-based startup isn’t building robots, but robot brains. The theory is that these brain models could then be used in different robots and for different tasks — quite than having just one application. It seems that many high-profile investors agree with that strategy.
2. Elements Biology$277 million, biotechnology: It’s hard to get through a week without a big raise in the biotech industry, and this time is no different. Elements Biology raised over $277 million in Series D funding led by Wellington Management. The San Diego-based biotech startup focuses on developing DNA sequencing and multi-omics technologies for research markets. Founded in 2017, the company has raised $678 million, according to Crunchbase.
3. Royal$250 million, movie: Regal, the second-largest movie show chain in the U.S., made the list this week after raising $250 million to upgrade its locations. The company plans to expand its network of 425 theaters nationwide — with upgrades that include luxury seating and other amenities. Regal is owned by Cineworld Worldwhich emerged from bankruptcy with a financial restructuring process last 12 months. The investors weren’t disclosed.
4. (draw) HarmonyCares$200 million, healthcare: HarmonyCares, a provider of primary home care, has raised one of the largest rounds this week to expand its business. The Troy, Michigan-based healthcare company closed a $200 million funding round led by (*10*)General Catalyst, McKesson Enterprises and a large, unnamed national payer. The company operates home-based primary care practices in 15 states — offering services reminiscent of home care, hospice, radiology and lab — and will seek to expand its geographic footprint across the U.S.
4. (draw) Earned wealth$200 million, financial services: Tech startup Wealth Earned Wealth raises $200 million in investment led by Silversmith Capital Partners AND Summit Partners. The company offers medical professionals financial planning, tax planning and investment advice on one platform. The latest funds are expected to go towards acquisitions. The company, founded in 2021, raised $212 million, according to Crunchbase.
6. Hebbia$130 million, AI: HebbiaAI startup that helps corporations analyze all kinds of data to answer more complex, multi-step questions has raised $130 million in Series B funding from a handful of high-profile investors. The latest round was led by Andreessen Horowitz and values the company at roughly $700 million, according to Bloomberg. The New York-based startup lets corporations search through structured and unstructured data—including regulatory filings and PDFs—to answer more detailed and complex business questions. The startup has grown revenue 15x and employees 5x in the past 18 months. Founded in 2020, the company has raised $161 million in total funding, according to Crunchbase.
7. Hayden AI$90M, Government Technology: Next time you think about double parking, do not forget that a San Francisco-based startup just raised a large Series C to make sure you don’t. Hayden AI, an AI vision platform, has secured $90 million in a growth capital round led by Growth Fund — TPGimpact investing platform. While the company’s platform uses cameras mounted on buses that may detect illegal parking or traffic violations, it could actually also do more. The platform uses sensor systems to collect geospatial data to provide cities with insights into improving road safety and accessibility. It can detect and predict traffic jams, improve transportation networks, and more. Founded in 2019, the company has raised greater than $193 million in funding, according to Crunchbase. The funding is the largest received by a govtech startup this 12 months, but it’s by no means the only one. In fact, govtech startups have raised $271.4 million this 12 months, according to Crunchbase dataThis amount has already exceeded last 12 months’s total of USD 249.7 million invested in the sector.
8. X-Bow Systems$70 million, aerospace industry: Albuquerque, New Mexico-based X-Bow Systems, a developer of solid-fuel rocket engines and hypersonic technologies, has raised greater than $70 million in funding Razor EdgeFounded in 2016, the company has raised nearly $160 million, according to Crunchbase.
9. Writings$60 million, artificial intelligence: New York-based Captions, a video creation and editing platform, has raised $60 million in a Series C round led by Index projects at a $500 million valuation. Founded in 2021, Captions has raised $100 million, according to Crunchbase.
10. ZwitterCo$58.4 million, Sustainability: ZwitterCo, a Woburn, Massachusetts-based membrane water treatment startup, has closed a $58.4 million Series B funding round led by Evok InnovationsFounded in 2018, the company has raised nearly $99 million, according to Crunchbase.
Large global transactions
The biggest round of the week went to a defense technology company.
- based in Germany Helsingwhich develops artificial intelligence software for defense purposes, has raised roughly $489 million in funding, led by (*10*)General Catalystvaluing the company at $5.4 billion.
Methodology
We tracked the largest announced funding rounds in the Crunchbase database, which were raised by U.S.-based corporations during the seven-day period from July 6 to July 12. While most announced rounds are included in the database, there could also be a slight delay as some rounds are reported late in the week.