Daily edition

Monday 20 October 2025

18 rounds and $540M raised. The biggest: OpenEvidence, $200M.

Rounds
18 -5%
Capital raised
$540M +103%
Median round
$10.2M +70%

vs Mon 13 Oct

The day in charts

AI took 78% of the capital on this day, up from 61% on Mon 13 Oct. OpenEvidence alone raised $200M, 37% of it.

The 5 biggest rounds

The 5 biggest rounds raised $445M, 82% of the total.

The 5 biggest rounds, Monday 20 October 2025OpenEvidence: $200M; LangChain: $125M; CoMind: $60M; nexos.ai: $35M; knownwell: $25M OpenEvidence $200M · Series C LangChain $125M · Series B C CoMind $60M · Series A nexos.ai $35M · Series A knownwell $25M · Strategic

Mega-rounds against the rest

2 of 18 rounds made 60% of the capital.

11% of the rounds were of $100M or more 11%of the rounds2 of 1860% of the capital came from rounds of $100M or more 60%of the capital$325M of $540M
Rounds of $100M or more, Monday 20 October 2025
RoundsCapital
$100M or more2$325M
The rest16$215M

Where the capital went

AI raised $419M, 78% of the capital. Choose a sector to filter the rounds below.

Capital by sector, Monday 20 October 2025 78% AI AI $419M 10 rounds 78% Health $25M 1 round 5% Enterprise software $10.9M 2 rounds 2% Fintech $5.4M 1 round <1% Climate & Energy $4.5M 1 round <1% Other $75.6M 3 rounds 14%
Capital by sector, Monday 20 October 2025
SectorCapitalShareRounds
AI$419M78%10
Other$75.6M14%3
Health$25M5%1
Enterprise software$10.9M2%2
Fintech$5.4M<1%1
Climate & Energy$4.5M<1%1

Where the rounds were

United States raised $396M, 73% of the capital. Rounds in 9 countries.

Capital by country, Monday 20 October 2025United States: $396M; United Kingdom: $61.6M; Lithuania: $35M; United Arab Emirates: $12M; France: $10.5M; Sweden: $10M; Colombia: $9M; Italy: $4.9M; Egypt: $1.1M United States $396M · 8 rounds United Kingdom $61.6M · 2 rounds Lithuania $35M · 1 round United Arab Emirates $12M · 1 round France $10.5M · 1 round Sweden $10M · 1 round Colombia $9M · 1 round Italy $4.9M · 2 rounds

Most active investors

Picus Capital joined 2 rounds, leading 1, more than any other investor.

Most active investors, Monday 20 October 2025Picus Capital: 2 rounds, 1 led; Canary: 2 rounds, 1 led; Sequoia Capital: 2 rounds, 0 led; GV: 1 rounds, 1 led; IVP: 1 rounds, 1 led; Plural: 1 rounds, 1 led; Index Ventures: 1 rounds, 1 led; CVS Health Ventures: 1 rounds, 1 led; Interlagos: 1 rounds, 1 led; XYZ Venture Capital: 1 rounds, 1 ledLedJoined Picus Capital 2 rounds · 1 led Canary 2 rounds · 1 led Sequoia Capital 2 rounds GV 1 round · 1 led IVP 1 round · 1 led Plural 1 round · 1 led Index Ventures 1 round · 1 led CVS Health Ventures 1 round · 1 led Interlagos 1 round · 1 led XYZ Venture Capital 1 round · 1 led

Rounds by stage

Seed was the most common stage: 8 rounds, median $7.2M. The median round size is under each column.

Rounds by stage, Monday 20 October 2025 2 Pre $1M 8 Seed $7.2M 3 A $35M 1 B $125M 1 C $200M 3 Other $10M
Rounds by stage, Monday 20 October 2025
StageRoundsMedian round
Pre-Seed2$1M
Seed8$7.2M
Series A3$35M
Series B1$125M
Series C1$200M
Other or undisclosed3$10.5M

The cities that raised

Miami raised $205M, more than all of Europe ($122M). Rounds from 10 cities.

Capital by city, Monday 20 October 2025Miami: $205M; San Francisco: $125M; London: $61.6M; Vilnius: $35M; Boston: $25M; Menlo Park: $14M; Dubai: $12M; New York: $10M; Seattle: $5M; Milan: $4.5M Miami $205M · 2 rounds San Francisco $125M · 1 round London $61.6M · 2 rounds Vilnius $35M · 1 round Boston $25M · 1 round Menlo Park $14M · 1 round

The last two weeks

This day against the 13 days before it. The biggest: Thu 9 Oct, $2.7B.

Capital raised per day, Monday 20 October 2025 Tue 7 Oct: $2.6B, 34 rounds; Wed 8 Oct: $2B, 32 rounds; Thu 9 Oct: $2.7B, 30 rounds; Fri 10 Oct: $484M, 12 rounds; Sat 11 Oct: $0K, 0 rounds; Sun 12 Oct: $0K, 0 rounds; Mon 13 Oct: $266M, 19 rounds; Tue 14 Oct: $2.7B, 40 rounds; Wed 15 Oct: $997M, 35 rounds; Thu 16 Oct: $2.4B, 36 rounds; Fri 17 Oct: $54.6M, 11 rounds; Sat 18 Oct: $0K, 0 rounds; Sun 19 Oct: $0K, 0 rounds; Mon 20 Oct: $540M, 18 rounds $1B$2B$3B 7 8 9 10 11 12 13 14 15 16 17 18 19 20 $2.7B$540M
Capital raised per day, Monday 20 October 2025
DayRoundsCapitalBiggest round
Tue 7 Oct34$2.6BPolymarket, $2B
Wed 8 Oct32$2BBase Power, $1B
Thu 9 Oct30$2.7BReflection AI, $2B
Fri 10 Oct12$484MKalshi, $300M
Sat 11 Oct0$0K
Sun 12 Oct0$0K
Mon 13 Oct19$266MEcorobotix, $105M
Tue 14 Oct40$2.7BOura, $900M
Wed 15 Oct35$997MTubulis, $358M
Thu 16 Oct36$2.4BChobani, $650M
Fri 17 Oct11$54.6MScap Hologram, $25.7M
Sat 18 Oct0$0K
Sun 19 Oct0$0K
Mon 20 Oct18$540MOpenEvidence, $200M
Newsletter Startup rounds, in your inbox.

Free. Unsubscribe anytime.

All rounds

More editions