Daily edition

Monday 24 November 2025

18 rounds and $876M raised. The biggest: X-energy, $700M.

Rounds
18 -42%
Capital raised
$876M -29%
Median round
$3.8M -75%

vs Mon 17 Nov

The day in charts

Climate & Energy took 80% of the capital on this day, up from 9% on Mon 17 Nov. X-energy alone raised $700M, 80% of it.

The 5 biggest rounds

The 5 biggest rounds raised $823M, 94% of the total.

The 5 biggest rounds, Monday 24 November 2025X-energy: $700M; Model ML: $75M; Revibe: $17M; Pay.com.au: $16.1M; Momentic: $15M X-energy $700M · Series D Model ML $75M · Series A Revibe $17M Pay.com.au $16.1M · Growth Momentic $15M · Series A

Mega-rounds against the rest

One round, X-energy at $700M, made 80% of the capital.

6% of the rounds were of $100M or more 6%of the rounds1 of 1880% of the capital came from rounds of $100M or more 80%of the capital$700M of $876M
Rounds of $100M or more, Monday 24 November 2025
RoundsCapital
$100M or more1$700M
The rest17$176M

Where the capital went

Climate & Energy raised $700M, 80% of the capital. Choose a sector to filter the rounds below.

Capital by sector, Monday 24 November 2025 80% Climate & Energy Climate & Energy $700M 1 round 80% AI $114M 5 rounds 13% Consumer $29.3M 6 rounds 3% Fintech $18.6M 2 rounds 2% Enterprise software $10M 2 rounds 1% Other sectors $4.3M 2 rounds <1%
Capital by sector, Monday 24 November 2025
SectorCapitalShareRounds
Climate & Energy$700M80%1
AI$114M13%5
Consumer$29.3M3%6
Fintech$18.6M2%2
Enterprise software$10M1%2
Health$3M<1%1
Cybersecurity$1.4M<1%1

Where the rounds were

United States raised $797M, 91% of the capital. Rounds in 9 countries.

Capital by country, Monday 24 November 2025United States: $797M; India: $19M; United Arab Emirates: $17M; Australia: $16.1M; United Kingdom: $10.2M; Turkey: $7.7M; Germany: $4.6M; Netherlands: $3M; Switzerland: $2.1M United States $797M · 4 rounds India $19M · 3 rounds United Arab Emirates $17M · 1 round Australia $16.1M · 1 round United Kingdom $10.2M · 2 rounds Turkey $7.7M · 4 rounds Germany $4.6M · 1 round Netherlands $3M · 1 round

Most active investors

ÜNLÜ Ventures joined 3 rounds, leading 3, more than any other investor.

Most active investors, Monday 24 November 2025ÜNLÜ Ventures: 3 rounds, 3 led; Y Combinator: 2 rounds, 0 led; Jane Street: 1 rounds, 1 led; FT Partners: 1 rounds, 1 led; Partech: 1 rounds, 1 led; Morgans Corporate: 1 rounds, 1 led; Standard Capital: 1 rounds, 1 led; Bertelsmann India Investments: 1 rounds, 1 led; Puma Growth Partners: 1 rounds, 1 led; General Catalyst: 1 rounds, 1 ledLedJoined ÜNLÜ Ventures 3 rounds · 3 led Y Combinator 2 rounds Jane Street 1 round · 1 led FT Partners 1 round · 1 led Partech 1 round · 1 led Morgans Corporate 1 round · 1 led Standard Capital 1 round · 1 led Bertelsmann India Investments 1 round · 1 led Puma Growth Partners 1 round · 1 led General Catalyst 1 round · 1 led

Rounds by stage

Seed was the most common stage: 5 rounds, median $2.4M. The median round size is under each column.

Rounds by stage, Monday 24 November 2025 5 Seed $2.4M 2 A $45M 1 B $15M 1 D $700M 2 Growth $12M 7 Other $2.5M
Rounds by stage, Monday 24 November 2025
StageRoundsMedian round
Seed5$2.4M
Series A2$45M
Series B1$14.6M
Series D1$700M
Growth2$12M
Other or undisclosed7$2.5M

The cities that raised

New York raised $75M, more than all of Asia ($36M). Rounds from 8 cities.

Capital by city, Monday 24 November 2025New York: $75M; San Francisco: $21.6M; Dubai: $17M; Sydney: $16.1M; London: $7.9M; Munich: $4.6M; Istanbul: $3.3M; Zurich: $2.1M New York $75M · 1 round San Francisco $21.6M · 2 rounds Dubai $17M · 1 round Sydney $16.1M · 1 round London $7.9M · 1 round Munich $4.6M · 1 round

The last two weeks

This day against the 13 days before it. The biggest: Thu 13 Nov, $3.9B.

Capital raised per day, Monday 24 November 2025 Tue 11 Nov: $427M, 22 rounds; Wed 12 Nov: $1.3B, 38 rounds; Thu 13 Nov: $3.9B, 34 rounds; Fri 14 Nov: $443M, 12 rounds; Sat 15 Nov: $0K, 0 rounds; Sun 16 Nov: $0K, 0 rounds; Mon 17 Nov: $1.2B, 31 rounds; Tue 18 Nov: $3.3B, 37 rounds; Wed 19 Nov: $2.2B, 34 rounds; Thu 20 Nov: $1.4B, 28 rounds; Fri 21 Nov: $670M, 12 rounds; Sat 22 Nov: $0K, 0 rounds; Sun 23 Nov: $0K, 0 rounds; Mon 24 Nov: $876M, 18 rounds $2B$4B 11 12 13 14 15 16 17 18 19 20 21 22 23 24 $3.9B$876M
Capital raised per day, Monday 24 November 2025
DayRoundsCapitalBiggest round
Tue 11 Nov22$427MWonderful, $100M
Wed 12 Nov38$1.3Bd-Matrix, $275M
Thu 13 Nov34$3.9BAnysphere (Cursor), $2.3B
Fri 14 Nov12$443MFirmus Technologies, $326M
Sat 15 Nov0$0K
Sun 16 Nov0$0K
Mon 17 Nov31$1.2BRamp, $300M
Tue 18 Nov37$3.3BLambda, $1.5B
Wed 19 Nov34$2.2BLuma AI, $900M
Thu 20 Nov28$1.4BPhysical Intelligence, $600M
Fri 21 Nov12$670MPicnic, $495M
Sat 22 Nov0$0K
Sun 23 Nov0$0K
Mon 24 Nov18$876MX-energy, $700M
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