This is a monthly article highlighting the top 10 funding rounds in the US. Check out the biggest rounds of the last month Here.
Lots of huge rounds as summer turns to fall. AI launch Secure superintelligencethe $1 billion round – for a startup that is only been around for a few months – easily went ahead. However, it wasn’t just artificial intelligence that received funding in September, as biotech made up about half of the list.
1. Secure superintelligence$1 billion, artificial intelligence: Raised AI Research Lab Secure Superintelligence $1 billion from a litany of famous investors including Andreessen Horowitz AND Capital of Sequoia. The round valued the Palo Alto, California-based company at $5 billion per person Reuterswho was the first to report the round. SSI, which he co-founded OpenAIformer chief scientist Ilya Suckewintends to develop secure AI systems – something that has been in the news a lot currently amid concerns that AI technology can be harmful to humans and society. The proposed California bill, which has proven controversial in the industry, goals to introduce safety regulations and guardrails for artificial intelligence – although many corporations, including OpenAI, fear it might be too burdensome. With the recent money, 3-month-old SSI plans to expand computing capability and hire recent talent.
2. Honest therapyUSD 370 million, biotechnology: The biggest biotech raise this month went to Candid Therapeutics. The San Diego-based startup launched after a $370 million capital raise co-led by Fairmount Fund Management, TCG crossover, VenBio Partners AND Venrock Healthcare Capital Partners. Candid is developing T-cell engaging antibodies to treat inflammatory diseases.
3. Arsenal Life SciencesUSD 325 million, biotechnology: The next largest raise in the biotech industry was reported by South San Francisco-based Arsenal Biosciences. Startup, a cell therapy company focused on developing T-cell therapies to treat solid tumors, raised a $325 million Series C from several investors, including recent investors Arch Venture Partners and the funds and accounts it advises T. Rowe Price Associates. The company’s portfolio includes potential therapies for ovarian, kidney and prostate cancer, in addition to other solid cancers. Founded in 2019, the company has raised nearly $631 million, on Crunchbase.
4. Collect$260 million, artificial intelligence: Less than seven months after collecting over Series D for $200 million At a valuation of $2.2 billion, the AI-powered work assistant and enterprise search startup has raised over $260 million in Series E financing at a $4.6 billion valuation he co-wrote Altimeter capital AND Global summer time. The Palo Alto, California-based startup achieved unicorn status in May 2023 after raising $100 million in a Series C round led by Capital of Sequoia. Founded by former Google engineers, Glean’s generative AI search tool connects to enterprise applications and databases, and its AI assistant and platform enable users to create their very own AI applications. Founded in 2019, Glean says it has raised $620 million.
5. World laboratories$230 million, artificial intelligence: AI spatial intelligence startup World Labs launched this month with totaling over $230 million. He managed the co-financing Andreessen Horowitz, NEA AND Radical undertakings. Other investors include: Mark Benioff AND Nventuresthe company’s enterprise capital arm Nvidia. Last month, it was reported that the Stanford, California-based company raised two rounds of financing inside two months of each other, and that the latest one valued it at over $1 billion. The co-founder of World Labs is an artificial intelligence pioneer Fei-Fei Licommonly called the “godmother of AI”. Previously, she led AI at Google Cloud and is co-director of Stanford Institute for Human-Centered Artificial Intelligence. She spent most of her time trying to resolve the problems of building large world models for artificial intelligence that may perceive and interact with a 3D world.
6 (draw). These can be biology$200 million, biotechnology: Bend, Oregon-based Serán Bioscience, which provides development and manufacturing services to pharmaceutical and biotechnology corporations, raised a round of greater than $200 million led by Bain Capital Life Sciences. The startup plans to make use of the recent funds to build a recent commercial-scale manufacturing facility for drug delivery and other services. Founded in 2016, this is the company’s first round with a disclosed amount, on Crunchbase.
6 (draw). Twelve$200 million, greentech: Carbon transformation startup Twelve closed a boatload of money this month, including a $200 million Series C at the helm Capricorn Investment Group, Pulse Fund AND TPG. However, that wasn’t the only money the Berkeley, California-based company made, because it also raised $400 million in project capital led by TPG Rise Climate Fund and $45 million in lines of credit. The money can be used to finish construction of AirPlant One, the company’s first green jet fuel plant. Founded in 2015, the company has raised nearly $890 million, on Crunchbase.
8. GenesisUSD 191 million, biotechnology: eGenesis, a Cambridge, Massachusetts-based biotechnology company working to develop human-specific organs, closed a $191 million Series D round led by Capital Lux. In March, eGenesis announced the world’s first successful transplant of a genetically modified pig kidney into a human. The recent money can be used to implement a variety of programs. Founded in 2014, the company has raised $456 million on Crunchbase.
9. Aktis OncologyUSD 175 million, biotechnology: Boston-based Aktis Oncology, a clinical-stage biotechnology startup developing novel targeted alpha radiopharmaceuticals for the treatment of a broad range of solid cancers, has closed the study Series B for $175 million hosted by Janus Henderson Investors, RA capital management AND RTW investments. In 2022, the company closed an $84 million extension round, partially funded by large pharmaceutical corporations akin to Merck, Bristol Myers Squibb AND Novartisafter raising $72 million in a 2021 Series A round. Founded in 2021, the company raised $331 million, on Crunchbase.
10 (draw). EngineUSD 140 million, business trips: Engine, formerly Hotel Engine, booked a Series C for $140 million run by a fund advised by a private equity firm Permira which values the Denver-based startup at $2.1 billion. The recent valuation represents a 62% jump from its previous value of $1.3 billion following a $65 million Series B in late 2021. This growth is no small feat, considering many startups are still raising money in flat rounds or even down from their sky-high valuations during the record enterprise market in 2020 and 2021. It also shows a continued recovery in business travel – one of the sectors most affected by the COVID pandemic and one that took time to finally return. Engine claims to be profitable and is growing its revenue by 70% yr over yr. The company will use the fresh capital to support product development, including the launch of flight booking and automobile rental on its platform. The company also announced that it could change its name to “Engine”. Founded in 2015, Engine has raised $221 million, on Crunchbase.
10 (draw). Health Zinga$140 million, health care: Medicare Advantage insurer Zing Health raised $140 million from investors, including Capital partners Zdrowie2047 AND First Trust Capital Partners. The Chicago-based startup’s mission is to supply managed care Medicare Advantage Plans “that address social determinants of health to reduce health care disparities among historically underserved populations.” Founded in 2019, the company has raised $330 million, on Crunchbase.
Great global offers
All the biggest raises got here from the US, but there was also a large round that went to a European startup.
- Based in Germany Everyonesmart fitness startup offering fitness and health facilities has raised $200 million for Series G.
Methodology
We have tracked the largest rounds reported by US-based corporations in the Crunchbase database for September 2024. While most announced rounds are included in the database, there could also be a slight delay as some rounds are reported late in the month.