Daily edition
Thursday 24 July 2025
20 rounds and $468M raised. The biggest: Armada, $131M.
- Rounds
- 20 -35%
- Capital raised
- $468M -49%
- Median round
- $6M +4%
vs Thu 17 Jul
The day in charts
AI took 57% of the capital on this day, up from 37% on Thu 17 Jul. $468M in all, down 49% on Thu 17 Jul.
The 5 biggest rounds
The 5 biggest rounds raised $369M, 79% of the total.
Mega-rounds against the rest
2 of 20 rounds made 55% of the capital.
| Rounds | Capital | |
|---|---|---|
| $100M or more | 2 | $256M |
| The rest | 18 | $212M |
Where the capital went
AI raised $269M, 57% of the capital. Choose a sector to filter the rounds below.
| Sector | Capital | Share | Rounds |
|---|---|---|---|
| AI | $269M | 57% | 10 |
| Cybersecurity | $137M | 29% | 2 |
| Fintech | $25.2M | 5% | 2 |
| Robotics & Hardware | $11.9M | 3% | 2 |
| Consumer | $11.6M | 2% | 1 |
| Enterprise software | $5.5M | 1% | 1 |
| Web3 | $5M | 1% | 1 |
| Health | $3.4M | <1% | 1 |
Where the rounds were
United States raised $344M, 73% of the capital. Rounds in 7 countries.
Most active investors
Y Combinator joined 2 rounds, leading 1, more than any other investor.
Rounds by stage
Seed was the most common stage: 6 rounds, median $6M. The median round size is under each column.
| Stage | Rounds | Median round |
|---|---|---|
| Pre-Seed | 2 | $3.6M |
| Seed | 6 | $6M |
| Series A | 4 | $5.7M |
| Series B | 3 | $23M |
| Series E+ | 1 | $50M |
| Growth | 1 | $125M |
| Other or undisclosed | 3 | $5.9M |
The cities that raised
San Francisco raised $151M, more than all of Asia ($79.3M). Rounds from 13 cities.
The last two weeks
This day against the 13 days before it. The biggest: Tue 15 Jul, $2.6B.
| Day | Rounds | Capital | Biggest round |
|---|---|---|---|
| Fri 11 Jul | 10 | $139M | Virtru, $50M |
| Sat 12 Jul | 0 | $0K | |
| Sun 13 Jul | 1 | $5M | Kaleidoscope, $5M |
| Mon 14 Jul | 15 | $321M | Moonvalley, $84M |
| Tue 15 Jul | 36 | $2.6B | Thinking Machines Lab, $2B |
| Wed 16 Jul | 29 | $671M | GRIDSERVE, $134M |
| Thu 17 Jul | 31 | $924M | Hadrian, $260M |
| Fri 18 Jul | 10 | $137M | Radical AI, $55M |
| Sat 19 Jul | 0 | $0K | |
| Sun 20 Jul | 0 | $0K | |
| Mon 21 Jul | 18 | $460M | Xelix, $160M |
| Tue 22 Jul | 35 | $734M | Reka AI, $110M |
| Wed 23 Jul | 21 | $652M | Dispatch Bio, $216M |
| Thu 24 Jul | 20 | $468M | Armada, $131M |
All rounds
- ArmadaBuilds ruggedized modular data centers that run AI and compute at the edgeLed by Pinegrove, with Glade Brook, Veriten +5 $131MStrategic · United States
- HeroDevsSells security and compliance support for end-of-life open source softwareLed by PSG, with Album $125MGrowth · United States
- LegalOn TechnologiesAI software that reviews and manages contracts for legal teamsLed by Goldman Sachs Alternatives, with World Innovation Lab, Mori Hamada & Matsumoto +2 $50MSeries E · Japan
- Trunk ToolsAI platform that reads project documents and flags risks for construction teamsLed by Insight Partners, with Redpoint Ventures, Innovation Endeavors +3 $40MSeries B · United States
- LightyearEuropean investing app offering business accounts, fractional shares and tax wrappersLed by NordicNinja, with Lightspeed Venture Partners, Metaplanet +3 $23MSeries B · United Kingdom
- NetrasemiDesigns low-power system-on-chip processors with on-device AI for smart IoT productsLed by Zoho Corporation, with Unicorn India Ventures $12.4MSeries A · India
- Cambridge TerahertzTerahertz imaging systems that detect concealed threats and verify returned retail itemsLed by Felicis, with Amazon Industrial Innovation Fund, Tishman Speyer $12MSeed · United States
- SuperKFranchise grocery chain serving small towns, run on in-house tech and logisticsLed by 3STATE Ventures, with Mithun Sacheti, Blume Ventures +2 $11.6MSeries B · India
- Memories.aiBuilds a visual memory model that analyzes thousands of hours of videoLed by Susa Ventures, with Samsung Next, Fusion Fund +3 $8MSeed · United States
- LyraAI-native video meeting platform for sales teamsLed by 468 Capital, with Rebel Fund, Y Combinator +1 $6MSeed · United States
- Baxter AerospaceBuilds deployable communications kits and the BA-1 Dragonfly unmanned aircraftLed by DoD Accelerator (Accuidity Capital Management) $6MSeries A · United States
- Cascade SpaceSoftware platform for designing and operating satellite and deep-space communication linksLed by Y Combinator, with Olive Capital, Undeterred Capital +1 $5.9MSeed · United States
- GixelUltra-light optical displays for AI and AR glassesLed by LEA Partners, with SPRIND $5.9MSeed · Germany
- IdentifAIPlatform that detects whether images, video or voice were AI-generatedLed by United Ventures $5.9MItaly
- Queen OneBrand technology platform that adds interactive commerce to websites, first product ConnectLed by Charge VC, with Inspired Capital, Red Swan Ventures +1 $5.5MUnited States
- Enlite ResearchPlug-and-play wireless building automation system with edge AI controlsLed by Avaana Capital, with Claypond Capital $5.3MSeries A · India
- Data Guardians NetworkDecentralized platform sourcing ethically produced AI training data from human contributorsLed by Hamoud Al-Rumayyan, with droppGroup, Hub Culture $5MPre-Seed · British Virgin Islands
- MaroPlatform that intervenes in real time on risky employee behavior and unmanaged AI useLed by Downing Capital Group $4.3MSeed · United States
- Modern BakerDevelops SUPERLOAF, a healthier bread made without ultra-processed ingredients, sold in UK supermarketsLed by Adjuvo $3.4MSeries A · United Kingdom
- CrediburSoftware managing private credit facilities between non-bank lenders and institutional capitalLed by Redstone, with MS&AD Ventures, Inovia $2.2MPre-Seed · Germany
No round matches these filters.