Investors appeared to still be hungover from the long holiday weekend, as large funding rounds trickled in slowly throughout the week. Only three topped $100 million. But this week saw a massive $1 billion fundraising for — what else? — an artificial intelligence company.
1. Safe superintelligence$1 billion, AI: AI research lab Safe Superintelligence has raised $1 billion from a number of high-profile investors, including Andreessen Horowitz AND Sequoia CapitalThe round values the company at $5 billion, based on Reuters Agencywho was the first to report on this round. SSI, co-founded by OpenAIformer Chief Scientist Ilya Sutskevergoals to develop protected AI systems — something that’s been in the news a lot these days, as concerns have grown that AI technology is harmful to people and society. A proposed bill in California that has proven controversial inside the industry goals to introduce safety and security regulations for AI — although many corporations, including OpenAI, worry it could possibly be too burdensome for many AI corporations. The three-month-old startup shall be trying to add computing power and hire latest talent.
2. Arsenal Biosciences$325 million, biotechnology: The biggest biotech raise of the week went to South San Francisco-based Arsenal Biosciences. The startup, a cell therapy company focused on engineering T-cell therapies for solid tumors, raised $325 million in Series C funding from several investors, including latest investors Arch Venture Partners and funds and accounts advised by T. Rowe Price AssociatesThe company has potential therapies for ovarian, kidney and prostate cancers, in addition to other solid tumors. Founded in 2019, the company has raised nearly $631 million, based on Crunchbase.
3. eGenesis$191 million, biotechnology: Cambridge, Massachusetts-based biotechnology company eGenesis, which develops engineered organs for human use, has closed a $191 million Series D round led by Capital LuxIn March eGenesis announced the world’s first successful transplant of a genetically modified pig kidney into a human. The latest money shall be used to implement a range of programs. The company, founded in 2014, has raised $456 million, based on Crunchbase.
4. Pharma Circle$90 million, biotechnology: Circle Pharma, a South San Francisco-based biotechnology company developing cell-penetrating macrocycles for therapy, has closed a $90 million Series D round, including a convertible note conversion, led by Column GroupFounded in 2012, the company has raised nearly $208 million, based on Crunchbase.
5. 24M Technologies$87 million, battery: Battery manufacturing and production startup 24M has closed an $87 million Series H round of financing, led by New Plus which values the company at $1.3 billion after the capital raise. The Cambridge, Mass.-based company develops energy storage products and technologies that aim to scale back costs and improve safety and recyclability. Founded in 2010, 24M has raised greater than $500 million, based on the company.
6. OrsoBio$67 million, biotechnology: Menlo Park, Calif.-based OrsoBio, a biotechnology company developing treatments for obesity and obesity-related disorders, has closed a $67 million Series B round of funding co-led by latest investors Ascent’s Capital AND Woodline PartnersFounded in 2021, the company has raised $129 million, based on Crunchbase.
7. Cortex Apps$60M in productivity tools: San Francisco-based Cortex Applications, an internal portal for software developers, has raised $60 million in a funding round led by Venture Partners Scale which values the company at $470 million, based on BloombergFounded in 2019, the company has raised nearly $113 million, based on Crunchbase.
8. OysterUSD 59 million, human resources: San Francisco-based HR platform Oyster has closed a $59 million Series D funding round led by Aquarius Silver Lake which values the company at $1.2 billion. Founded in 2020, Oyster says it has raised $286 million.
9. Laravel$57 million, development tools: Based in Arkansas City, Arkansas, Laravel, a web application framework used to build web applications, has raised $57 million in Series A funding led by AccelerationFounded in 2011, this is the company’s first disclosed funding round, based on Crunchbase.
10. Sonoma Biotherapy$45 million, biotechnology: South San Francisco-based Sonoma BioTherapeutics, a biotechnology company developing therapies for autoimmune and inflammatory diseases, has received Regeneron PharmaceuticalsFounded in 2020, the company has raised $410 million, (*10*)based on Crunchbase.
Large global transactions
The largest deal outside the United States occurred in Japan and involved artificial intelligence.
Methodology
We tracked the largest announced funding rounds in the Crunchbase database, which were raised by U.S.-based corporations during the seven-day period from August 31 to September 6. 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.