WonderA giant $700 million raise may have caught most individuals’s attention last month, but the big deal story was really in biotech. Seven of the rounds on this list were in this sector. The rounds themselves totaled almost $1.5 billion. This makes it a good month for startups seeking to develop drugs and therapies for all our ailments.
1. Wonder$700 million, food delivery: Mark LoreIn the last round, the Wonder Foundation raised as much as $700 million. Investors in the transaction – which was supposedly raised as a easy future equity contract that does not include a valuation kit New employees of the company, Google Ventures, Speed up AND Bain’s capital ventures, among others. Lore himself reportedly invested $100 million. Over the next two years, the company plans to open 100 more locations. It currently has 11 locations across New York, offering takeout and delivery from several restaurants, prepared in one kitchen. This New York-based company has been quite busy these days. In September, Wonder acquired a meal kit company Blue apron for $103 million. Founded in 2018, Wonder has raised nearly $1.8 billion on Crunchbase.
2. Mirador of TherapyUSD 400 million, biotechnology: It’s been a huge month for big raises in the biotech industry, and this one was the biggest. San Diego-based Mirador launched with $400 million in Series A funding, led by the company Arch Venture Partners. The company was founded by the CEO Mark McKenna and management staff from Biological Sciences of Prometheuswhich was taken over by Merck in 2023. With breakthroughs in genetics and machine learning, the company is focused on precision medicine for the treatment of chronic inflammation and fibrotic diseases.
3. On the bottomUSD 259 million, biotechnology: South San Francisco-based Alumis raised $259 million in Series C, led by: Foresite Capital, Samsara BioCapital AND VenBio Partners. The startup develops oral therapies for patients with immune-related diseases. Founded in 2021, the company raised $529 million, on Crunchbase.
4. Applied intuition$250 million, autonomous vehicles: Autonomous vehicle software developer Applied Intuition closed a $250 million Series E, valuing the company at $6 billion, a 67% increase in value from the previous round. He led the recent round Capital Lux, Elad Gila and strategic investor Porsche Investment Management. The Mountain View, California-based startup develops software for the automotive, trucking, construction, mining and other industries. The company uses generative artificial intelligence to create software that helps customers create driver assistance systems and automated driving solutions. The good run comes despite a continued decline in enterprise funding in the autonomous vehicle sector. Autonomous vehicle startups raised slightly below $5 billion last 12 months, the lowest total funding amount in the sector since 2017. in response to Crunchbase data. The decline occurred as a result of various failures in the industry. Just last month Apple after ten years of labor, it unceremoniously closed its autonomous electric automobile initiative. Founded in 2017, Applied Intuition has raised over $600 million (*10*)on Crunchbase.
5. AxoniusUSD 200 million, asset management: This month also saw a major round of extensions. New York-based Axonius, a cybersecurity and SaaS asset management startup, has secured a $200 million Series E expansion led by Speed up AND Partners of the Lightspeed enterprise. The company originally raised one other $200 million in Series E funding in 2022, at an announced valuation of $2.6 billion. Asset management is necessary for firms that want visibility into what they have to search out vulnerabilities, risks, misconfigurations and cost inefficiencies. This need is obvious as Axonius just surpassed $100 million in annual recurring revenue. Founded in 2017, the company has raised $865 million on Crunchbase.
6. Shannon therapyUSD 182 million, biotechnology: Another big raise in biotech, as Boston-based Sionna Therapeutics closed a $182 million Series C. A startup developing treatments for cystic fibrosis has raised recent funding for the clinical development of small molecules designed to totally restore function in cystic fibrosis. Transmembrane fibrosis conductance regulator protein. He led the round Enavate Sciences. Founded in 2018, the company has raised $292 million, on Crunchbase.
7. (sure) Capstan therapyUSD 175 million, biotechnology: Capstan Therapeutics raised $175 million in Series B, led by: RA capital management. The San Diego-based biotechnology company focuses on reprogramming cells in vivo through RNA delivery to combat autoimmune diseases. Founded in 2021, the company says it has raised $340 million.
7. (sure) Celestial Artificial IntelligenceUSD 175 million, semiconductors: Enabling optical interconnections Celestial Artificial Intelligence raised a whopping $175 million in Series C funding, which she led Thomas Tull‘S American Fund for Innovative Technologies. With the explosion of generative AI, the availability of computing power and memory capability are becoming increasingly limited, and the combination of computing power and memory is causing each to grow concurrently. However, Celestial’s photonic fabric platform helps decouple processing power from memory, making extensive AI processing faster and more energy-efficient. Just last June, Santa Clara, California-based Celestial raised $100 million in Series B financing led by IAG Capital Partners, Koch’s breakthrough technologies AND Temasek‘S Xora innovation fund. Founded in 2020, the company has raised nearly $339 million, on Crunchbase. It’s been a busy few weeks in the semiconductor industry as investors have flocked to the sector knowing its importance in the booming artificial intelligence industry. At the starting of March, shares Astera’s laboratory — a developer of knowledge center connectivity technology with use cases in generative artificial intelligence — has skyrocketed following its initial public offering on the platform Nasdaq. Since then, the company’s shares have remained well above the IPO price.
9. Engrail therapyUSD 157 million, biotechnology: Anxiety, depression and post-traumatic stress disorder are serious conditions for which treatment could also be somewhat limited. Engrail Therapeutics has raised a recent Series B value $157 million, co-owned by recent investors F-Prime capital, Forbion capital partners AND Norwest Venture Partners to assist expand the offering to handle these issues. The San Diego-based biotech startup focuses on neuropsychiatric and neurodevelopmental diseases and will use the recent funding for clinical development. Since its founding in 2019, Engrail has raised over $220 million for the company.
10. (tied) Avenzo therapy$150 million, biotechnology: Oncology startup Avenzo Therapeutics is one other biotech raise, closing $150 million in Series A-1 financing led by Deep Path Capital, New employees of the company, Sands Capital Ventures AND Sofinnova investments. Since its founding in August 2022, the San Diego-based company has now raised $347 million, in response to company data. The startup plans to make use of the recent revenue to expand its emerging oncology program, which incorporates treating metastatic breast cancer and other advanced solid tumors.
10. (tied) Lock therapy$150 million, biotechnology: Clasp Therapeutics has blocked the last major biotech raise on this list. The Cambridge, Massachusetts-based startup is developing agents that engage T cells tailored to each patient’s immune system to attack tumors. The company launched this week with $150 million in led financing Catalio Capital Management, Third rock ventures AND Novo Holdings Company.
Great global offers
Despite all the big rounds in the U.S., the biggest raise of the month got here in China.
- Zhija’s automobiledeveloper and manufacturer of electrical vehicles, raised $1.1 billion in Series B funding.
Methodology
We tracked the largest rounds raised by US-based firms in March 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 month.