Daily edition

Wednesday 12 November 2025

38 rounds and $1.3B raised. The biggest: d-Matrix, $275M.

vs Wed 5 Nov

The day in charts

AI took 58% of the capital on this day, up from 19% on Wed 5 Nov. $1.3B in all, down 9% on Wed 5 Nov.

The 5 biggest rounds raised $863M, 65% of the total.

4 of 38 rounds made 59% of the capital.

Rounds of $100M or more, Wednesday 12 November 2025
	Rounds	Capital
$100M or more	4	$788M
The rest	34	$539M

AI raised $776M, 58% of the capital. Choose a sector to filter the rounds below.

Capital by sector, Wednesday 12 November 2025
Sector	Capital	Share	Rounds
AI	$776M	58%	20
Consumer	$245M	18%	5
Robotics & Hardware	$223M	17%	5
Fintech	$27M	2%	1
Health	$26.4M	2%	3
Other	$18M	1%	1
Web3	$10M	<1%	1
Climate & Energy	$1.2M	<1%	1
Enterprise software	$508K	<1%	1

United States raised $1.1B, 85% of the capital. Rounds in 10 countries.

Kleiner Perkins joined 2 rounds, leading 2, more than any other investor.

Seed was the most common stage: 8 rounds, median $2.9M. The median round size is under each column.

Santa Clara raised $275M, more than all of Asia ($139M). Rounds from 16 cities.

This day against the 13 days before it. The biggest: Wed 5 Nov, $1.5B.

Capital raised per day, Wednesday 12 November 2025
Day	Rounds	Capital	Biggest round
Thu 30 Oct	30	$759M	Bending Spoons, $270M
Fri 31 Oct	15	$256M	Snapmint, $115M
Sat 1 Nov	0	$0K
Sun 2 Nov	0	$0K
Mon 3 Nov	24	$543M	AAVantgarde Bio, $141M
Tue 4 Nov	30	$767M	Beacon Software, $250M
Wed 5 Nov	30	$1.5B	Ripple, $500M
Thu 6 Nov	27	$867M	Metropolis, $500M
Fri 7 Nov	6	$89.7M	Upway, $60M
Sat 8 Nov	0	$0K
Sun 9 Nov	0	$0K
Mon 10 Nov	13	$1B	Clio, $500M
Tue 11 Nov	22	$427M	Wonderful, $100M
Wed 12 Nov	38	$1.3B	d-Matrix, $275M