Last 12 months, artificial intelligence once again dominated enterprise capital. But we have already prepared a list of the largest rounds raised by AI startups, so what about other industries that made big deals in 2024? Below is a summary of the largest rounds raised by US-based startups that are not necessarily AI-focused. Let’s take a look at who else raised high.
1. (related) Epic games$1.5 billion, games: Epic Games is no stranger to this list. The gaming giant raised big in 2022 when it took home $2 billion Sony AND KIRKBY — the family holding and investment company behind it LEGO Group — at a valuation of $31.5 billion. The topic is back after the North Carolina-based company raised one other $1.5 billion in February through a latest partnership with Disney to assist bring greater exposure to the company’s characters and properties – including Marvel Comics characters. However, this round brought a drastic drop in valuation reported Disney invested $22.5 billion. Founded in 1991, the Fortnite creator has raised nearly $8 billion to this point Crunchbase data.
1. (related) Generate capital$1.5 billion, renewable energy: If the name looks familiar, it’s probably because this company has been listed before. In early 2023, the San Francisco-based green infrastructure investor and operator raised $1.1 billion annually KNOT filings and reports. This raise comes just 18 months after raising $1 billion in 2021. Last January, Generate raised a $1.5 billion round from various investors, including California Teachers Retirement System. Generate invests in a range of infrastructure projects, from municipal photovoltaic systems to municipal wastewater treatment plants to fleet electrification. Founded in 2014, the company has raised $7.1 billion via Crunchbase.
3. Three hundred$1.3 billion, DevOps: In November, Tricentis raised a $1.3 billion investment from a private equity firm General terms and conditions values the software testing startup at $4.5 billion. It wasn’t clear from the reports whether it was latest capital or existing stock, but it was on the list. The Austin, Texas-based startup was founded in 2007 in Austria. Insight partners acquired a majority stake in the company in 2017. The company has now raised $1.5 billion via Crunchbase.
4. Wizard$1 billion, cybersecurity: Cloud security startup Wiz closed the biggest cybersecurity round of the 12 months, raising $1 billion at a valuation of $12 billion. Round – announced in the same way as the industry round RSA Conference launched in May in San Francisco – co-hosted by Andreessen Horowitz, Partners of the Lightspeed enterprise AND Develop capital. Founded in 2020, Wiz says it has raised $1.9 billion to this point. Originally founded in Israel, Wiz has been busy these days. Earlier this 12 months, it acquired a New York-based cloud detection and response company Gem security. The company can use the latest money injection to shut more deals. Wiz, also based in New York, said it had $350 million in annual recurring revenue last 12 months. It has has been open about reaching $1 billion in ARR with an upcoming IPO.
5. Pacific FusionUSD 900 million, energy: The next big AI round went to Pacific Fusion, a startup attempting to create a fusion power source, which raised greater than $900 million in a Series A round led by Generic catalytic converter in October. The funding depends on the company hitting certain milestones – which have not been specified. The round further illustrates investor appetite for energy sources that may meet AI’s massive energy needs.
6. Partners in radiology$720 million, health care: El Segundo, California-based radiology services company Radiology Partners was busy in February compiling a huge list of transactions involving existing notes and outstanding loans. However, as a part of these moves, it also closed on a growth equity investment of roughly $720 million from existing and latest investors – who weren’t named. Founded in 2012, the company has raised $2 billion, via Crunchbase.
7. Wonder$700 million, food delivery: Mark LoreFood delivery startup Wonder cannot stop raising big bucks. It had big rounds in March, November 2023 and June 2022. It’s back again in a $650 million acquisition Grubhub in November, raising an additional $250 million in capital exclusively from latest investors – who weren’t named. The transaction price dropped significantly in the case of Grubhub, which was purchased by, among others, Just eat takeout for $7.3 billion in 2021. Founded in 2018, Wonder has raised nearly $1.9 billion, via Crunchbase.
8. PsiQuantum$620 million, quantum computing: In April, PsiQuantum secured the largest funding round for any quantum startup last 12 months, beating out How manyraised equity funds value USD 300 million, with a preliminary valuation of USD 5 billion in January. Palo Alto, California-based PsiQuantum received a $620 million financing package from the Commonwealth of Australia and Queensland Governments will build a quantum computer near Brisbane Airport in Brisbane, Australia. This round is actually a combination of equity, grants and loans, so it isn’t just equity. Founded in 2016, the company has raised over $1.3 billion, via Crunchbase.
9. Crusoe’s energy systems$600 million, energy: In 2022, this Denver-based company helped mine Bitcoin by taking natural gas, which is typically burned in oil extraction, and using it to power the data centers needed for mining. The company raised a $350 million Series C capital round led by the company G2 enterprise partnersat a valuation of $1.75 billion. Well, in October, Crusoe focused on artificial intelligence – literally. The company is a so-called “neocloud” – a data center company that gives outsourced cloud computing for those seeking to build artificial intelligence. This marketing strategy was enough for Crusoe apparently close $500 million round led by Founders Fund at a valuation of $2.8 billion. Founded in 2018, the company has raised $1.3 billion, via Crunchbase.
10. (tied) Renewable energyUSD 500 million, energy: In January, Austin, Texas-based Recurrent Energy secured a $500 million senior equity investment CzarnyRock. The company – a platform dedicated to the development, ownership and operation of utility-scale solar and energy storage projects – plans to make use of the latest capital to develop a “high-value pipeline of projects.” Recurrent is a subsidiary of the company Canadian Solarand that company will proceed to carry the remaining majority shares of Recurrent after the investment closes. Founded in 2006, the company has raised roughly $3.2 billion, via Crunchbase.
10. (tied) X energyUSD 500 million, energy: In October, X-energy raised roughly $500 million in Series C-1, anchored by Amazon. The Rockville, Maryland-based company develops advanced small modular nuclear reactors to provide clean energy. Amazon and X-energy are working together to bring greater than 5 gigawatts of recent energy projects online across the U.S. by 2039. Founded in 2009, the company has raised over $785 million, via Crunchbase.
Great global offers
The three largest rounds raised by non-AI startups outside the U.S. each got here from China.
- Based in China in December Avatarelectric vehicle brand, has raised roughly $1.5 billion in Series C funding.
- In March, a semiconductor company ChangXin Memory Technologies raised a enterprise round value about $1.5 billion.
- Also in March, based in China Zhija’s automobiledeveloper and manufacturer of electrical vehicles, raised $1.1 billion in Series B funding.
Methodology
In the Crunchbase database, we tracked the largest announced rounds reported by U.S.-based corporations that weren’t labeled as AI in 2024.