Date: 12 JULY 2024
In a week marked by the palpable energy of innovation, investors have channeled substantial resources into startups across various sectors, including robotics, biotechnology, and healthcare. This surge in activity has witnessed several funding rounds surpassing the nine-figure threshold, fostering an atmosphere of optimism for the startup ecosystem as we move through the summer.
Funding Raised: $300M
Sector Robotics
Continuing the enchanting trend for robotics startups, Skild AI conjured up a $300 million Series A funding. This round was led by Coatue, Lightspeed Venture Partners, SoftBank Group, and Jeff Bezos through his Bezos Expeditions, propelling the Pittsburgh-based startup to a $1.5 billion valuation.
Unlike others, Skild AI isn't creating robots; it's crafting the brains that will animate them, destined for a multitude of applications. Big-name investors are clearly enchanted by this versatile strategy.
Funding Raised: $277M
Sector: Biotech
The spell of biotech innovation persists with Element Biosciences securing over $277 million in a Series D round led by Wellington Management.
Based in San Diego, this startup is pushing the boundaries of DNA sequencing and multi-omics technology for research markets. Since its founding in 2017, Element Biosciences has raised $678 million.
Funding Raised: $250M,
Sector: Film
Regal, the second-largest movie theater chain in the U.S., found a treasure chest this week with $250 million to enhance its theaters.
The funding will be used to add luxury recliners and other amenities across its 425 locations. Regal, owned by Cineworld, which recently emerged from bankruptcy, did not disclose the investors.
Funding Raised: $200M
Sector Healthcare
Expanding its magical reach, HarmonyCares, a provider of in-home primary care, raised $200 million. This round was led by General Catalyst, McKesson Ventures, and a large unnamed national payor.
Operating in 15 states, the Troy, Michigan-based firm offers a range of services from home health to radiology and laboratory services, aiming to extend its geographic footprint.
Funding Raised: $200M
Sector Financial Services
Wealth tech startup Earned Wealth bewitched investors, raising $200 million in a round led by Silversmith Capital Partners and Summit Partners.
Focused on providing financial planning, tax planning, and investment advice to medical professionals, the company plans to use the funds for acquisitions. Founded in 2021, Earned Wealth has raised $212 million.
Funding Raised: $130M
Sector: Artificial Intelligence
Hebbia, an AI startup from New York that helps businesses analyze data to answer complex, multi-step questions, secured a $130 million Series B led by a16z.
This new round values the company at approximately $700 million.
Hebbia's technology enables businesses to sift through structured and unstructured data, driving detailed and intricate business insights. Founded in 2020, Hebbia has now raised $161 million.
Funding raised: $90M
Sector: Govtech
Hayden AI, a San Francisco-based startup, cast a significant funding spell this week, raising $90 million in a Series C round led by The Rise Fund, TPG's impact investing platform. Utilizing cameras mounted on buses, Hayden AI's platform detects illegal parking and moving violations, improving traffic safety and accessibility.
The platform also uses geospatial data to predict congestion and optimize transportation networks. Founded in 2019, the company has raised more than $193 million. This round marks the largest for a govtech startup this year, contributing to a total of $271.4 million raised by the sector so far, surpassing last year's $249.7 million.
Funding Raised $70M
Sector: Aerospace
Albuquerque-based X-Bow Systems, a developer of solid rocket motors and hypersonics technologies, secured over $70 million in funding led by Razor’s Edge. Founded in 2016, the company has now raised nearly $160 million
Funding Round $58.4M
Sector: Sustainability
Woburn, Massachusetts-based ZwitterCo, a water treatment startup using membrane technologies, closed a $58.4 million Series B funding round led by Evok Innovations. Founded in 2018, the company has raised nearly $99 million.
Source: Crunchbase
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