Weekly edition · Week 26

23 to 29 June 2025

118 rounds and $3.4B raised. The biggest: Abridge, $300M.

Rounds
118 +4%
Capital raised
$3.4B +3%
Median round
$10.3M +49%

vs the week of 16 to 22 Jun · 4-week average $4.7B-26%

The week in charts

AI took 48% of the capital this week, up from 45% the week of 16 to 22 Jun. $3.4B in all, up 3% on the week of 16 to 22 Jun.

The 10 biggest rounds

The 10 biggest rounds raised $1.6B, 48% of the total.

The 10 biggest rounds, 23 to 29 June 2025Abridge: $300M; Harvey: $300M; Kalshi: $185M; Digital Asset: $135M; PhysicsX: $135M; Finom: $132M; Decagon: $131M; ForSight Robotics: $125M; Raphe mPhibr: $100M; Halter: $100M Abridge $300M · Series E Harvey $300M · Series E Kalshi $185M · Series C Digital Asset $135M · Strategic PhysicsX $135M · Series B Finom $132M · Series C Decagon $131M · Series C ForSight Robotics $125M · Series B Raphe mPhibr $100M · Series B Halter $100M · Series D

Mega-rounds against the rest

10 of 118 rounds made 48% of the capital.

8% of the rounds were of $100M or more 8%of the rounds10 of 11848% of the capital came from rounds of $100M or more 48%of the capital$1.6B of $3.4B
Rounds of $100M or more, 23 to 29 June 2025
RoundsCapital
$100M or more10$1.6B
The rest108$1.8B

Capital raised per day

The busiest day: Tue 24 Jun, $1.2B across 41 rounds.

Capital raised per day, 23 to 29 June 2025 Mon 23 Jun: $1B, 20 rounds; Tue 24 Jun: $1.2B, 41 rounds; Wed 25 Jun: $793M, 25 rounds; Thu 26 Jun: $339M, 22 rounds; Fri 27 Jun: $93.7M, 10 rounds; Sat 28 Jun: $0K, 0 rounds; Sun 29 Jun: $0K, 0 rounds $500M$1B$1.5B Mon 23 Tue 24 Wed 25 Thu 26 Fri 27 Sat 28 Sun 29 $1.2B
Capital raised per day, 23 to 29 June 2025
DayRoundsCapitalBiggest round
Mon 23 Jun20$1BHarvey, $300M
Tue 24 Jun41$1.2BAbridge, $300M
Wed 25 Jun25$793MKalshi, $185M
Thu 26 Jun22$339MUniUni, $70M
Fri 27 Jun10$93.7MGensmo, $60M
Sat 28 Jun0$0K
Sun 29 Jun0$0K

Where the capital went

AI raised $1.6B, 48% of the capital. Choose a sector to filter the rounds below.

Capital by sector, 23 to 29 June 2025 48% AI AI $1.6B 50 rounds 48% Fintech $480M 9 rounds 14% Health $326M 11 rounds 10% Climate & Energy $251M 11 rounds 7% Robotics & Hardware $214M 8 rounds 6% Other sectors $516M 29 rounds 15%
Capital by sector, 23 to 29 June 2025
SectorCapitalShareRounds
AI$1.6B48%50
Fintech$480M14%9
Health$326M10%11
Climate & Energy$251M7%11
Robotics & Hardware$214M6%8
Web3$197M6%3
Consumer$104M3%8
Other$77.8M2%5
Enterprise software$75.1M2%11
Cybersecurity$61.9M2%2

Most active investors

Sequoia Capital joined 5 rounds, more than any other investor.

Most active investors, 23 to 29 June 2025Sequoia Capital: 5 rounds, 0 led; Accel: 4 rounds, 4 led; General Catalyst: 4 rounds, 1 led; Kima Ventures: 4 rounds, 0 led; Andreessen Horowitz: 3 rounds, 2 led; BOND: 3 rounds, 1 led; Menlo Ventures: 3 rounds, 1 led; Singular: 3 rounds, 1 led; A*: 3 rounds, 0 led; Taranis: 2 rounds, 2 ledLedJoined Sequoia Capital 5 rounds Accel 4 rounds · 4 led General Catalyst 4 rounds · 1 led Kima Ventures 4 rounds Andreessen Horowitz 3 rounds · 2 led BOND 3 rounds · 1 led Menlo Ventures 3 rounds · 1 led Singular 3 rounds · 1 led A* 3 rounds Taranis 2 rounds · 2 led

The investor race, last 4 weeks

Ranked by rounds joined so far. Sequoia Capital finished first with 14 rounds over the last 4 weeks. The lead changed hands twice.

The investor race, the last 4 weeksSequoia Capital: ranks 1, 2, 1, 1, 14 rounds; General Catalyst: ranks 5, 5, 3, 2, 12 rounds; Y Combinator: ranks 2, 1, 2, 3, 10 rounds; Accel: ranks 3, 3, 5, 4, 9 rounds; Khosla Ventures: ranks 4, 4, 4, 5, 9 rounds W23W24W25W26 Sequoia Capital 14 rounds · 3 led General Catalyst 12 rounds · 4 led Y Combinator 10 rounds Accel 9 rounds · 7 led Khosla Ventures 9 rounds · 2 led
Rounds joined so far, the last 4 weeks
InvestorWeek 23Week 24Week 25Week 26
Sequoia Capital26914
General Catalyst02812
Y Combinator28910
Accel1359
Khosla Ventures1389

Where the rounds were

United States raised $2B, 59% of the capital. Rounds in 20 countries.

Capital by country, 23 to 29 June 2025United States: $2B; India: $232M; United Kingdom: $204M; France: $182M; Canada: $179M; Netherlands: $141M; Israel: $136M; Germany: $125M; New Zealand: $100M; Switzerland: $30.7M; Italy: $20M; Austria: $9.3M United States $2B · 45 rounds India $232M · 13 rounds United Kingdom $204M · 6 rounds France $182M · 16 rounds Canada $179M · 4 rounds Netherlands $141M · 2 rounds Israel $136M · 2 rounds Germany $125M · 12 rounds

The cities that raised

San Francisco raised $568M, more than all of Asia ($370M). Rounds from 41 cities.

Capital by city, 23 to 29 June 2025San Francisco: $568M; New York: $405M; Pittsburgh: $300M; London: $193M; Amsterdam: $132M; Paris: $115M; Auckland: $100M; South San Francisco: $96.5M; Bengaluru: $93.1M; Toronto: $80M; Seattle: $75M; Richmond: $70M San Francisco $568M · 8 rounds New York $405M · 6 rounds Pittsburgh $300M · 1 round London $193M · 3 rounds Amsterdam $132M · 1 round Paris $115M · 8 rounds

Rounds by stage

Seed was the most common stage: 40 rounds, median $4.6M. The median round size is under each column.

Rounds by stage, 23 to 29 June 2025 12 Pre $1.5M 40 Seed $4.6M 27 A $12M 16 B $32M 6 C $98M 4 D $83M 2 E+ $300M 2 Growth $21M 9 Other $6.3M
Rounds by stage, 23 to 29 June 2025
StageRoundsMedian round
Pre-Seed12$1.5M
Seed40$4.6M
Series A27$12M
Series B16$32M
Series C6$98M
Series D4$83.3M
Series E+2$300M
Growth2$21M
Other or undisclosed9$6.3M

Sectors against the week of 16 to 22 Jun

Biggest gain: Fintech, +$262M. Biggest drop: Climate & Energy, -$463M. Change in capital raised. Only where both periods have rounds.

Change in capital by sectors, 23 to 29 June 2025 against the week of 16 to 22 JunFintech: +$262M; AI: +$133M; Web3: +$126M; Consumer: +$46.7M; Health: +$46.4M; Robotics & Hardware: +$19.1M; Other: -$6.4M; Enterprise software: -$135M; Climate & Energy: -$463M Fintech +$262M +120% AI +$133M +9% Web3 +$126M +177% Consumer +$46.7M +81% Health +$46.4M +17% Robotics & Hardware +$19.1M +10% Other -$6.4M -8% Enterprise software -$135M -64% Climate & Energy -$463M -65%
Sectors against the week of 16 to 22 Jun
Sectors23 to 29 June 2025the week of 16 to 22 JunChange
Fintech$480M$218M+$262M
AI$1.6B$1.5B+$133M
Web3$197M$71.2M+$126M
Consumer$104M$57.4M+$46.7M
Health$326M$280M+$46.4M
Robotics & Hardware$214M$195M+$19.1M
Other$77.8M$84.2M-$6.4M
Enterprise software$75.1M$210M-$135M
Climate & Energy$251M$714M-$463M

Countries against the week of 16 to 22 Jun

Biggest gain: United Kingdom, +$203M. Biggest drop: Germany, -$634M. Change in capital raised. Only where both periods have rounds.

Change in capital by countries, 23 to 29 June 2025 against the week of 16 to 22 JunUnited Kingdom: +$203M; Canada: +$178M; India: +$177M; United States: +$115M; Netherlands: +$106M; France: +$27M; Israel: -$19M; Germany: -$634M United Kingdom +$203M ×138 Canada +$178M ×123 India +$177M ×4.2 United States +$115M +6% Netherlands +$106M ×4 France +$27M +17% Israel -$19M -12% Germany -$634M -84%
Countries against the week of 16 to 22 Jun
Countries23 to 29 June 2025the week of 16 to 22 JunChange
United Kingdom$204M$1.5M+$203M
Canada$179M$1.5M+$178M
India$232M$55M+$177M
United States$2B$1.9B+$115M
Netherlands$141M$34.7M+$106M
France$182M$155M+$27M
Israel$136M$155M-$19M
Germany$125M$759M-$634M
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