There were a few nine-figure rounds this week, some of them at pretty high valuations. They included one big round that saw a recent unicorn mint that developed a second AI-based coding pilot. However, after a few really big rounds, the round sizes fell off quickly and precipitously.
1. Magic$320 million, artificial intelligence:Magic, based in San Francisco, which develops artificial intelligence models for writing software, says raised $320 million from recent investors, including Eric Schmidt AND Redwood.The announcement got here almost two months after Reuters reported that the company in talks with investors to lift a recent $200 million at a $1.5 billion valuation. The startup last raised $117 million in February led by NFDG Projectsin which in addition they took part Capital G AND You live in GilFounded in 2022, Magic has raised $465 million, in keeping with company data.
2. nursery$200 million, data: San Francisco-based Cribl raises $319 million in Series E round led by recent investor GVvaluing the data infrastructure company at $3.5 billion. The recent round is actually a combination of $200 million in equity and $119 million in secondary offering, in keeping with BloombergThe raise represents a significant boost for the company, which recently raised $150 million in Series D funding led by Tiger Global Management with a valuation of nearly $2.6 billion in 2022. The Cribl platform enables users to see their data, allowing them to know the state of their data and organize it for IT and security teams. Just last yr, Cribl announced that it had transitioned Annual recurring revenue exceeds $100 million. The company employs greater than 700 people worldwide. While the explosion of data has given corporations the potential to deeply understand their businesses, the process of actually collecting, verifying, and organizing that data has proven difficult and time-consuming. That’s exactly the problem that platforms like Cribl are attempting to fix. Founded in 2018, Cribl says it has raised greater than $600 million.
3. Code$150 million, AI: AI-powered coding assistant Codeium has closed a $150 million Series C funding round led by General Catalyst values the Mountain View, California-based startup at $1.25 billion. The Codeium platform uses generative AI models trained on public code to present developers suggestions on build apps and can support dozens of programming languages. The company, founded in 2021, raised $243 million, in keeping with Crunchbase.
4. Electrophi$112 million, biotechnology: Boston-based biologics startup Elektrofi raises roughly $112 million in Series C funding, in keeping with a report in Endpoints News. The company is a preclinical company developing recent drug delivery methods. No investors were named. Founded in 2016, the company has raised $154 million, in keeping with Crunchbase.
5. Navigator Medicines$100 million, biotechnology: Scotch Plains, New Jersey-based Navigator Medicines, a biotech startup developing treatments to control and restore the immune system, has closed a $100 million Series A funding round co-led by Forbion Capital Partners AND RA Capital Management. The company is developing novel therapies for patients living with complex, heterogeneous autoimmune diseases. Founded in 2024, this is the company’s first disclosed round, in keeping with Crunchbase.
6. Parry Laboratories$80 million defense: Defense tech startup Parry Labs has closed an $80 million fundraising round, the firm’s first institutional round and the latest in a series of large rounds for defense tech corporations. The round was led by Capitol Meridian Partners. The Alexandria, Virginia-based company builds digital systems for the defense industry that include mission-critical software and advanced artificial intelligence. The startup’s software stack helps defense customers with edge computing and electronic warfare products. The round is the latest for the defense tech startup. Earlier this month, Anduril Industry made headlines when it raised one other $1.5 billion — tying its own record for the largest defense technology round in history. And just a week earlier, the McLean, Va.-based Defcon AIwhich has developed an AI-based decision-making tool for military logistics planning, has raised $44 million in a seed round led by Venture Bessemer Partners. Venture capital funding for defense tech startups is poised to set recent records. So far in 2024, startups in the sector have raised $2.5 billion, in keeping with Crunchbase (*10*)data — almost matching the record high of $2.6 billion achieved in 2022.
7. RentVine$74 million, real estate:Estero, Florida-based RentVine, a property management software platform for skilled property management firms, has raised $74 million in a funding round Mainsail PartnersFounded in 2005, this is the company’s first round of funding for which a disclosed amount has been provided, in keeping with Crunchbase.
8. Bridge$58 million, cryptocurrency: San Antonio, Texas-based payments company Web3 Bridge has raised $40 million in investment led by Redwood AND Ribbit CapitalFounded in 2022, Bridge has raised $58 million, in keeping with company data.
9. From Noah$40 million, biotechnology: San Francisco-based AI-based biotech startup Noetik is developing cancer drugs and has raised $40 million in Series A funding led by Polaris PartnersFounded in 2022, the company has raised $54 million, in keeping with Crunchbase.
10. Butlr$38 million, sensors: Burlingame, California-based biotech Butlr has raised $38 million in Series B funding led by Foundry Group. The startup uses sensors and anonymous data in buildings to higher understand how people interact in a given space. Founded in 2019, Butlr has raised $68 million, in keeping with the company.
Large global transactions
The largest transaction outside the US took place in Asia.
- Based in China Xinwanxing Compositesmanufacturer of composite materials, has raised a round of financing value roughly $141 million.
Methodology
We tracked the largest announced rounds in the Crunchbase database, which was collected by US-based corporations during the seven-day period from August 24 to August 30. 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.