Weekly edition · Week 33

11 to 17 August 2025

96 rounds and $2.1B raised. The biggest: Cohere, $500M.

Rounds: 96 +3%
Capital raised: $2.1B -10%
Median round: $8.2M +17%

vs the week of 4 to 10 Aug · 4-week average $3.2B-35%

The week in charts

AI took 46% of the capital this week, up from 36% the week of 4 to 10 Aug. $2.1B in all, down 10% on the week of 4 to 10 Aug.

The 10 biggest rounds

The 10 biggest rounds raised $1.2B, 56% of the total.

Mega-rounds against the rest

3 of 96 rounds made 37% of the capital.

Rounds of $100M or more, 11 to 17 August 2025
	Rounds	Capital
$100M or more	3	$789M
The rest	93	$1.3B

Capital raised per day

The busiest day: Thu 14 Aug, $792M across 19 rounds.

Capital raised per day, 11 to 17 August 2025
Day	Rounds	Capital	Biggest round
Mon 11 Aug	19	$606M	Aira, $174M
Tue 12 Aug	37	$487M	1Kosmos, $47M
Wed 13 Aug	18	$222M	Appcharge, $58M
Thu 14 Aug	19	$792M	Cohere, $500M
Fri 15 Aug	3	$3M	Grand PMS, $1.8M
Sat 16 Aug	0	$0K
Sun 17 Aug	0	$0K

Where the capital went

AI raised $974M, 46% of the capital. Choose a sector to filter the rounds below.

Capital by sector, 11 to 17 August 2025
Sector	Capital	Share	Rounds
AI	$974M	46%	38
Climate & Energy	$357M	17%	8
Health	$243M	11%	8
Enterprise software	$170M	8%	14
Robotics & Hardware	$103M	5%	5
Fintech	$93.9M	4%	9
Consumer	$60.8M	3%	3
Cybersecurity	$49M	2%	2
Other	$35.3M	2%	6
Web3	$23.9M	1%	3

Most active investors

Headline joined 3 rounds, leading 2, more than any other investor.

The investor race, last 8 weeks

Ranked by rounds joined so far. Y Combinator finished first with 27 rounds over the last 8 weeks. The lead changed hands twice.

Rounds joined so far, the last 8 weeks
Investor	Week 26	Week 27	Week 28	Week 29	Week 30	Week 31	Week 32	Week 33
Y Combinator	1	4	10	12	17	23	24	27
General Catalyst	4	4	7	10	11	13	16	19
Andreessen Horowitz	3	3	4	8	10	16	17	18
Peak XV Partners	2	5	8	8	8	9	12	15
Sequoia Capital	5	5	7	8	10	10	13	15

Where the rounds were

United States raised $914M, 43% of the capital. Rounds in 29 countries, 1 with no country disclosed.

The cities that raised

Toronto raised $500M, more than all of Europe ($376M). Rounds from 37 cities.

Rounds by stage

Seed was the most common stage: 21 rounds, median $3M. The median round size is under each column.

Rounds by stage, 11 to 17 August 2025
Stage	Rounds	Median round
Pre-Seed	16	$1.3M
Seed	21	$3M
Series A	21	$13M
Series B	11	$27M
Series C	3	$50M
Series D	1	$115M
Growth	2	$88.2M
Other or undisclosed	21	$9M

Sectors against the week of 4 to 10 Aug

Biggest gain: Climate & Energy, +$331M. Biggest drop: Health, -$395M. Change in capital raised. Only where both periods have rounds.

Sectors against the week of 4 to 10 Aug
Sectors	11 to 17 August 2025	the week of 4 to 10 Aug	Change
Climate & Energy	$357M	$26.6M	+$331M
AI	$974M	$854M	+$120M
Robotics & Hardware	$103M	$27M	+$76.1M
Consumer	$60.8M	$36.9M	+$23.9M
Cybersecurity	$49M	$26.6M	+$22.4M
Web3	$23.9M	$10.8M	+$13.1M
Other	$35.3M	$53.1M	-$17.8M
Fintech	$93.9M	$249M	-$155M
Enterprise software	$170M	$429M	-$258M
Health	$243M	$638M	-$395M

Countries against the week of 4 to 10 Aug

Biggest gain: Canada, +$427M. Biggest drop: United States, -$546M. Change in capital raised. Only where both periods have rounds.

Countries against the week of 4 to 10 Aug
Countries	11 to 17 August 2025	the week of 4 to 10 Aug	Change
Canada	$553M	$126M	+$427M
Sweden	$174M	$1M	+$173M
United Kingdom	$111M	$17.6M	+$93.1M
Germany	$45.7M	$13.9M	+$31.8M
India	$111M	$154M	-$42.8M
United Arab Emirates	$5.1M	$48M	-$42.9M
Israel	$68M	$162M	-$94M
United States	$914M	$1.5B	-$546M