Monthly edition

August 2025

391 rounds and $9.7B raised. The biggest: Commonwealth Fusion Systems, $863M.

Rounds
391 -23%
Capital raised
$9.7B -53%
Median round
$7M -18%

vs July 2025

The month in charts

AI took 36% of the capital this month, down from 63% in July. $9.7B in all, down 53% on July.

The 10 biggest rounds

The 10 biggest rounds raised $3.5B, 36% of the total.

The 10 biggest rounds, August 2025Commonwealth Fusion Systems: $863M; Cohere: $500M; Group14 Technologies: $463M; First Due: $355M; FieldAI: $314M; EliseAI: $250M; Ontic: $230M; Aira: $174M; Weaver Services: $170M; Strand Therapeutics: $153M Commonwealth Fusion Systems $863M · Series B Cohere $500M Group14 Technologies $463M · Series D F First Due $355M · Growth FieldAI $314M EliseAI $250M · Series E Ontic $230M · Series C A Aira $174M · Growth W Weaver Services $170M · Growth S Strand Therapeutics $153M · Series B

Mega-rounds against the rest

20 of 391 rounds made 47% of the capital.

5% of the rounds were of $100M or more 5%of the rounds20 of 39147% of the capital came from rounds of $100M or more 47%of the capital$4.6B of $9.7B
Rounds of $100M or more, August 2025
RoundsCapital
$100M or more20$4.6B
The rest371$5.1B

Capital raised per day

The busiest day: Wed 20 Aug, $1.6B across 31 rounds.

Capital raised per day, August 2025 Fri 1 Aug: $63.8M, 6 rounds; Sat 2 Aug: $0K, 0 rounds; Sun 3 Aug: $1.2M, 1 round; Mon 4 Aug: $246M, 14 rounds; Tue 5 Aug: $774M, 23 rounds; Wed 6 Aug: $421M, 26 rounds; Thu 7 Aug: $795M, 22 rounds; Fri 8 Aug: $29.6M, 6 rounds; Sat 9 Aug: $0K, 0 rounds; Sun 10 Aug: $85M, 2 rounds; Mon 11 Aug: $606M, 19 rounds; Tue 12 Aug: $487M, 37 rounds; Wed 13 Aug: $222M, 18 rounds; Thu 14 Aug: $792M, 19 rounds; Fri 15 Aug: $3M, 3 rounds; Sat 16 Aug: $0K, 0 rounds; Sun 17 Aug: $0K, 0 rounds; Mon 18 Aug: $285M, 19 rounds; Tue 19 Aug: $704M, 28 rounds; Wed 20 Aug: $1.6B, 31 rounds; Thu 21 Aug: $476M, 18 rounds; Fri 22 Aug: $143M, 9 rounds; Sat 23 Aug: $0K, 0 rounds; Sun 24 Aug: $150K, 1 round; Mon 25 Aug: $336M, 25 rounds; Tue 26 Aug: $344M, 24 rounds; Wed 27 Aug: $185M, 20 rounds; Thu 28 Aug: $1.1B, 13 rounds; Fri 29 Aug: $52M, 7 rounds; Sat 30 Aug: $0K, 0 rounds; Sun 31 Aug: $0K, 0 rounds $1B$2B 1 4 11 18 25 $1.6B W32$2.4B W33$2.1B W34$3.2B W35$2B
Capital raised per day, August 2025
DayRoundsCapitalBiggest round
Fri 1 Aug6$63.8MFundamental Research Labs, $33M
Sat 2 Aug0$0K
Sun 3 Aug1$1.2MDeep.SA, $1.2M
Mon 4 Aug14$246MBlue J, $122M
Tue 5 Aug23$774MFirst Due, $355M
Wed 6 Aug26$421MRillet, $70M
Thu 7 Aug22$795MStrand Therapeutics, $153M
Fri 8 Aug6$29.6MMonato, $13M
Sat 9 Aug0$0K
Sun 10 Aug2$85MTruemeds, $65M
Mon 11 Aug19$606MAira, $174M
Tue 12 Aug37$487M1Kosmos, $47M
Wed 13 Aug18$222MAppcharge, $58M
Thu 14 Aug19$792MCohere, $500M
Fri 15 Aug3$3MGrand PMS, $1.8M
Sat 16 Aug0$0K
Sun 17 Aug0$0K
Mon 18 Aug19$285MIVIX, $60M
Tue 19 Aug28$704MWeaver Services, $170M
Wed 20 Aug31$1.6BGroup14 Technologies, $463M
Thu 21 Aug18$476MOntic, $230M
Fri 22 Aug9$143MStarian, $117M
Sat 23 Aug0$0K
Sun 24 Aug1$150KZaher AI, $150K
Mon 25 Aug25$336MParagraf, $55M
Tue 26 Aug24$344MAerospacelab, $65.3M
Wed 27 Aug20$185MLeal Therapeutics, $30M
Thu 28 Aug13$1.1BCommonwealth Fusion Systems, $863M
Fri 29 Aug7$52MDeftpower, $14.6M
Sat 30 Aug0$0K
Sun 31 Aug0$0K

Where the capital went

AI raised $3.5B, 36% of the capital. Choose a sector to filter the rounds below.

Capital by sector, August 2025 36% AI AI $3.5B 158 rounds 36% Climate & Energy $1.9B 24 rounds 19% Health $1.2B 36 rounds 12% Enterprise software $959M 40 rounds 10% Fintech $762M 38 rounds 8% Other sectors $1.4B 95 rounds 15%
Capital by sector, August 2025
SectorCapitalShareRounds
AI$3.5B36%158
Climate & Energy$1.9B19%24
Health$1.2B12%36
Enterprise software$959M10%40
Fintech$762M8%38
Robotics & Hardware$440M5%20
Web3$333M3%19
Cybersecurity$311M3%6
Other$171M2%21
Consumer$157M2%29

Most active investors

Y Combinator joined 15 rounds, leading 3, more than any other investor.

Most active investors, August 2025Y Combinator: 15 rounds, 3 led; General Catalyst: 10 rounds, 4 led; Sequoia Capital: 8 rounds, 4 led; Peak XV Partners: 7 rounds, 5 led; Bessemer Venture Partners: 7 rounds, 2 led; EIFO: 6 rounds, 0 led; GV: 5 rounds, 4 led; Insight Partners: 5 rounds, 3 led; Antler: 5 rounds, 1 led; Andreessen Horowitz: 4 rounds, 4 ledLedJoined Y Combinator 15 rounds · 3 led General Catalyst 10 rounds · 4 led Sequoia Capital 8 rounds · 4 led Peak XV Partners 7 rounds · 5 led Bessemer Venture Partners 7 rounds · 2 led EIFO 6 rounds GV 5 rounds · 4 led Insight Partners 5 rounds · 3 led Antler 5 rounds · 1 led Andreessen Horowitz 4 rounds · 4 led

The investor race, last 6 weeks

Ranked by rounds joined so far. Y Combinator finished first with 25 rounds over the last 6 weeks.

The investor race, the last 6 weeksY Combinator: ranks 1, 1, 1, 1, 1, 1, 25 rounds; General Catalyst: ranks 5, 4, 4, 4, 3, 2, 13 rounds; Insight Partners: ranks 2, 3, 2, 2, 4, 3, 12 rounds; Andreessen Horowitz: ranks 4, 2, 3, 3, 2, 4, 12 rounds; Sequoia Capital: ranks 3, 5, 5, 5, 5, 5, 10 rounds W30W31W32W33W34W35 Y Combinator 25 rounds · 4 led General Catalyst 13 rounds · 5 led Insight Partners 12 rounds · 10 led Andreessen Horowitz 12 rounds · 7 led Sequoia Capital 10 rounds · 5 led
Rounds joined so far, the last 6 weeks
InvestorWeek 30Week 31Week 32Week 33Week 34Week 35
Y Combinator51112152325
General Catalyst13691213
Insight Partners479101112
Andreessen Horowitz289101212
Sequoia Capital22571010

Where the rounds were

United States raised $6.2B, 63% of the capital. Rounds in 47 countries, 1 with no country disclosed.

Capital by country, August 2025United States: $6.2B; Canada: $706M; India: $580M; Israel: $340M; United Kingdom: $305M; Sweden: $231M; Brazil: $146M; China: $145M; Germany: $140M; Saudi Arabia: $118M; Australia: $110M; Turkey: $80M United States $6.2B · 150 rounds Canada $706M · 7 rounds India $580M · 55 rounds Israel $340M · 9 rounds United Kingdom $305M · 33 rounds Sweden $231M · 9 rounds Brazil $146M · 11 rounds China $145M · 2 rounds

The cities that raised

New York raised $1.1B, more than all of Europe ($1.1B). Rounds from 77 cities.

Capital by city, August 2025New York: $1.1B; Devens: $863M; Toronto: $622M; San Francisco: $580M; Austin: $354M; Irvine: $314M; Mumbai: $304M; Boston: $252M; London: $216M; Stockholm: $180M; Valencia: $140M; Shanghai: $131M New York $1.1B · 28 rounds Devens $863M · 1 round Toronto $622M · 2 rounds San Francisco $580M · 26 rounds Austin $354M · 4 rounds Irvine $314M · 1 round

Rounds by stage

Seed was the most common stage: 122 rounds, median $3.3M. The median round size is under each column.

Rounds by stage, August 2025 46 Pre $1.3M 122 Seed $3.3M 75 A $15M 44 B $32M 12 C $51M 6 D $108M 2 E+ $152M 14 Growth $25M 70 Other $5.5M
Rounds by stage, August 2025
StageRoundsMedian round
Pre-Seed46$1.3M
Seed122$3.3M
Series A75$14.5M
Series B44$31.5M
Series C12$50.8M
Series D6$108M
Series E+2$152M
Growth14$24.7M
Other or undisclosed70$5.5M

Sectors against July 2025

Biggest gain: Climate & Energy, +$1.1B. Biggest drop: AI, -$9.6B. Change in capital raised. Only where both periods have rounds.

Change in capital by sectors, August 2025 against July 2025Climate & Energy: +$1.1B; Enterprise software: +$217M; Web3: +$15.3M; Other: +$9.1M; Cybersecurity: -$27.1M; Robotics & Hardware: -$394M; Consumer: -$492M; Health: -$716M; Fintech: -$1.2B; AI: -$9.6B Climate & Energy +$1.1B +127% Enterprise software +$217M +29% Web3 +$15.3M +5% Other +$9.1M +6% Cybersecurity -$27.1M -8% Robotics & Hardware -$394M -47% Consumer -$492M -76% Health -$716M -38% Fintech -$1.2B -62% AI -$9.6B -73%
Sectors against July 2025
SectorsAugust 2025July 2025Change
Climate & Energy$1.9B$831M+$1.1B
Enterprise software$959M$742M+$217M
Web3$333M$318M+$15.3M
Other$171M$162M+$9.1M
Cybersecurity$311M$338M-$27.1M
Robotics & Hardware$440M$834M-$394M
Consumer$157M$649M-$492M
Health$1.2B$1.9B-$716M
Fintech$762M$2B-$1.2B
AI$3.5B$13.1B-$9.6B

Countries against July 2025

Biggest gain: Canada, +$519M. Biggest drop: United States, -$9.2B. Change in capital raised. Only where both periods have rounds.

Change in capital by countries, August 2025 against July 2025Canada: +$519M; India: +$362M; Israel: -$250M; United Kingdom: -$317M; France: -$389M; Switzerland: -$399M; Germany: -$448M; United States: -$9.2B Canada +$519M ×3.8 India +$362M +167% Israel -$250M -42% United Kingdom -$317M -51% France -$389M -100% Switzerland -$399M -87% Germany -$448M -76% United States -$9.2B -60%
Countries against July 2025
CountriesAugust 2025July 2025Change
Canada$706M$186M+$519M
India$580M$218M+$362M
Israel$340M$590M-$250M
United Kingdom$305M$622M-$317M
France$1.8M$391M-$389M
Switzerland$59.2M$459M-$399M
Germany$140M$587M-$448M
United States$6.2B$15.4B-$9.2B
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