Daily edition

Wednesday 1 October 2025

26 rounds and $905M raised. The biggest: Nscale, $433M.

vs Wed 24 Sept

The day in charts

AI took 60% of the capital on this day, up from 57% on Wed 24 Sept. Nscale alone raised $433M, 48% of it.

The 5 biggest rounds raised $782M, 86% of the total.

3 of 26 rounds made 79% of the capital.

Rounds of $100M or more, Wednesday 1 October 2025
	Rounds	Capital
$100M or more	3	$713M
The rest	23	$192M

AI raised $545M, 60% of the capital. Choose a sector to filter the rounds below.

Capital by sector, Wednesday 1 October 2025
Sector	Capital	Share	Rounds
AI	$545M	60%	13
Cybersecurity	$180M	20%	1
Climate & Energy	$100M	11%	1
Fintech	$34.4M	4%	1
Health	$15.5M	2%	3
Enterprise software	$12.6M	1%	2
Robotics & Hardware	$9.8M	1%	2
Web3	$5.5M	<1%	1
Other	$2M	<1%	1
Consumer	$270K	<1%	1

United Kingdom raised $472M, 52% of the capital. Rounds in 12 countries.

EQT Ventures joined 2 rounds, leading 2, more than any other investor.

Seed was the most common stage: 10 rounds, median $3.7M. The median round size is under each column.

London raised $468M, more than all of North America ($254M). Rounds from 10 cities.

This day against the 13 days before it. The biggest: Tue 30 Sept, $2.6B.

Capital raised per day, Wednesday 1 October 2025
Day	Rounds	Capital	Biggest round
Thu 18 Sept	28	$419M	Infra.Market, $83.1M
Fri 19 Sept	10	$148M	Nxtfood, $57.5M
Sat 20 Sept	0	$0K
Sun 21 Sept	0	$0K
Mon 22 Sept	30	$847M	AppZen, $180M
Tue 23 Sept	34	$621M	Judi Health, $252M
Wed 24 Sept	29	$891M	Modular, $250M
Thu 25 Sept	35	$608M	WAAT, $117M
Fri 26 Sept	10	$55M	Curefoods, $18M
Sat 27 Sept	1	$1.4M	Plazza, $1.4M
Sun 28 Sept	0	$0K
Mon 29 Sept	20	$438M	Star Therapeutics, $125M
Tue 30 Sept	40	$2.6B	Cerebras Systems, $1.1B
Wed 1 Oct	26	$905M	Nscale, $433M