Weekly edition · Week 25

16 to 22 June 2025

114 rounds and $3.3B raised. The biggest: Helsing, $694M.

Rounds: 114 -8%
Capital raised: $3.3B -10%
Median round: $6.9M -35%

vs the week of 9 to 15 Jun · 4-week average $5.3B-37%

The week in charts

AI took 45% of the capital this week, down from 52% the week of 9 to 15 Jun. $3.3B in all, down 10% on the week of 9 to 15 Jun.

The 10 biggest rounds

The 10 biggest rounds raised $2.2B, 65% of the total.

Mega-rounds against the rest

7 of 114 rounds made 59% of the capital.

Rounds of $100M or more, 16 to 22 June 2025
	Rounds	Capital
$100M or more	7	$2B
The rest	107	$1.4B

Capital raised per day

The busiest day: Wed 18 Jun, $1.2B across 35 rounds.

Capital raised per day, 16 to 22 June 2025
Day	Rounds	Capital	Biggest round
Mon 16 Jun	13	$969M	Helsing, $694M
Tue 17 Jun	43	$932M	Antares Therapeutics, $177M
Wed 18 Jun	35	$1.2B	TerraPower, $650M
Thu 19 Jun	18	$163M	AIM Intelligent Machines, $50M
Fri 20 Jun	5	$77.2M	Payabli, $28M
Sat 21 Jun	0	$0K
Sun 22 Jun	0	$0K

Where the capital went

AI raised $1.5B, 45% of the capital. Choose a sector to filter the rounds below.

Capital by sector, 16 to 22 June 2025
Sector	Capital	Share	Rounds
AI	$1.5B	45%	51
Climate & Energy	$714M	21%	6
Health	$280M	8%	9
Fintech	$218M	7%	13
Enterprise software	$210M	6%	7
Robotics & Hardware	$195M	6%	6
Other	$84.2M	3%	6
Web3	$71.2M	2%	6
Consumer	$57.4M	2%	10

Most active investors

General Catalyst joined 6 rounds, leading 2, more than any other investor.

The investor race, last 3 weeks

Ranked by rounds joined so far. Sequoia Capital finished first with 9 rounds over the last 3 weeks. The lead changed hands twice.

Rounds joined so far, the last 3 weeks
Investor	Week 23	Week 24	Week 25
Sequoia Capital	2	6	9
Y Combinator	2	8	9
General Catalyst	0	2	8
Lightspeed Venture Partners	3	6	8
Khosla Ventures	1	3	8

Where the rounds were

United States raised $1.9B, 57% of the capital. Rounds in 28 countries.

The cities that raised

Munich raised $694M, more than all of Asia ($298M). Rounds from 44 cities.

Rounds by stage

Seed was the most common stage: 50 rounds, median $3.3M. The median round size is under each column.

Rounds by stage, 16 to 22 June 2025
Stage	Rounds	Median round
Pre-Seed	10	$1.3M
Seed	50	$3.3M
Series A	18	$20M
Series B	13	$28M
Series C	3	$70M
Series D	2	$412M
Series E+	2	$72.5M
Growth	3	$40M
Other or undisclosed	13	$5.2M

Sectors against the week of 9 to 15 Jun

Biggest gain: Climate & Energy, +$534M. Biggest drop: AI, -$419M. Change in capital raised. Only where both periods have rounds.

Sectors against the week of 9 to 15 Jun
Sectors	16 to 22 June 2025	the week of 9 to 15 Jun	Change
Climate & Energy	$714M	$180M	+$534M
Consumer	$57.4M	$18.8M	+$38.6M
Other	$84.2M	$106M	-$21.9M
Web3	$71.2M	$94.9M	-$23.7M
Health	$280M	$315M	-$35.1M
Enterprise software	$210M	$252M	-$41.8M
Fintech	$218M	$359M	-$141M
Robotics & Hardware	$195M	$341M	-$146M
AI	$1.5B	$1.9B	-$419M

Countries against the week of 9 to 15 Jun

Biggest gain: Germany, +$501M. Biggest drop: Spain, -$427M. Change in capital raised. Only where both periods have rounds.

Countries against the week of 9 to 15 Jun
Countries	16 to 22 June 2025	the week of 9 to 15 Jun	Change
Germany	$759M	$258M	+$501M
Israel	$155M	$122M	+$33.4M
France	$155M	$124M	+$30.9M
Netherlands	$34.7M	$67.6M	-$32.8M
India	$55M	$111M	-$56.3M
United Kingdom	$1.5M	$160M	-$158M
United States	$1.9B	$2.2B	-$276M
Spain	$5.7M	$432M	-$427M