During Thanksgiving week, we took a break from covering the biggest startup investments in the U.S., which was just as well considering it was a predictably slow time for big deal announcements. Now, with just a few weeks left until 2025, things are picking up speed again.
Forecast market Kalshi topped the list after confirming the already much-talked-about $1 billion in latest financing. Other large rounds got here from sectors including defense technology, AI infrastructure, cybersecurity and biotechnology.
1. Kalshi$1 billion, forecast market: We included Kalshi in our top 10 a few weeks ago after the company was reported to have secured $1 billion in latest financing. Well, now it’s official, with confirmation from New York’s rapidly growing forecast market. An investor focused on cryptocurrencies Paradigm led the financing, with participation from a long list of enterprise firms.
2. Castelion$350 million, defense technology: Castelion, creator of hypersonic munitions, says raised $350 million in Series B financing led by Altimeter capital AND Partners of the Lightspeed enterprise. Headquartered in Torrance, California, the company was founded by (*10*)SpaceX alum in 2022.
3. Eternity$300 million, cloud data: New York-based Eon, a provider of cloud data backup technology for enterprise artificial intelligence, landed $300 million in Series D led by Sold by Gil With Gil Capital. The round brings Eon’s total funding to $500 million since its founding lower than two years ago and raises its valuation to $4 billion.
4. Medicinal$150 million, medical health insurance: Curative, a startup that gives a free, out-of-pocket healthcare plan, raised $150 million in a Series B round led by Upside Vision Fund. The financing values the Austin-based company at $1.27 billion.
5. Health angle$134 million, medical health insurance: San Francisco-based Angle Health, an AI health advantages platform, closed on $134 million in Series B financing led by Portage Ventures. According to the company, the round included a combination of debt and equity, bringing total financing to nearly $200 million.
6. (sure) 7AI$130 million, cybersecurity: 7AI, a developer of tools for scaling AI agents for security tasks, raised $130 million in a Series A round led by Index ventures. The funding round comes just 10 months after the Boston-based company emerged from stealth mode.
6. (sure) Protego BiofarmaUSD 130 million, biotechnology: Protego Biopharma, a therapeutic startup that goals to reprogram protein folding to treat multiple diseases and disorders, has raised $130 million in Series B funding. Novartis investment fund AND Phorbion led the financing of a company based in San Diego.
8. Triana BiomedicineUSD 120 million, biotechnology: Lexington, Massachusetts-based Triana Biomedicines, developer of a molecular glue discovery platform, secured $120 million Series B financing. The capital of Ascenta AND Partners of the Bessemer enterprise co-hosted the round.
9. AntithesisUSD 105 million, simulation tests: Antithesis, a developer of simulation testing tools for software systems, has raised $105 million in Series A funding. The capital of Jane Street led the financing of a startup based in Tysons Corner, Virginia.
10. Axiado$100 million, AI server chips: Axiado, maker of a chip designed to save space and power in artificial intelligence servers, has secured $100 million in a Series C+ round. Silicon maverick led an investment for a company based in San Jose, California.
Methodology
We tracked the largest announced rounds recorded by U.S.-based firms between November 28 and December in the Crunchbase database. 5. Although most of the announced rounds are included in the database, there could also be a slight delay as some rounds are reported late in the week.