Weekly edition · Week 42

13 to 19 October 2025

141 rounds and $6.4B raised. The biggest: Oura, $900M.

Rounds
141 +8%
Capital raised
$6.4B -22%
Median round
$11.6M +108%

vs the week of 6 to 12 Oct · 4-week average $5.2B+21%

The week in charts

Health took 43% of the capital this week, up from 8% the week of 6 to 12 Oct. $6.4B in all, down 22% on the week of 6 to 12 Oct.

The 10 biggest rounds

The 10 biggest rounds raised $3.9B, 62% of the total.

The 10 biggest rounds, 13 to 19 October 2025Oura: $900M; Chobani: $650M; Kailera Therapeutics: $600M; Tubulis: $358M; Return: $349M; Deel: $300M; Kardigan: $254M; Tachyum: $220M; Upgrade: $165M; Veradermics: $150M O Oura $900M · Series E Chobani $650M · Growth Kailera Therapeutics $600M · Series B Tubulis $358M · Series C Return $349M · Growth Deel $300M · Series E Kardigan $254M · Series B Tachyum $220M · Series C Upgrade $165M · Series G Veradermics $150M · Series C

Mega-rounds against the rest

15 of 141 rounds made 71% of the capital.

11% of the rounds were of $100M or more 11%of the rounds15 of 14171% of the capital came from rounds of $100M or more 71%of the capital$4.5B of $6.4B
Rounds of $100M or more, 13 to 19 October 2025
RoundsCapital
$100M or more15$4.5B
The rest126$1.8B

Capital raised per day

The busiest day: Tue 14 Oct, $2.7B across 40 rounds.

Capital raised per day, 13 to 19 October 2025 Mon 13 Oct: $266M, 19 rounds; Tue 14 Oct: $2.7B, 40 rounds; Wed 15 Oct: $997M, 35 rounds; Thu 16 Oct: $2.4B, 36 rounds; Fri 17 Oct: $54.6M, 11 rounds; Sat 18 Oct: $0K, 0 rounds; Sun 19 Oct: $0K, 0 rounds $1B$2B$3B Mon 13 Tue 14 Wed 15 Thu 16 Fri 17 Sat 18 Sun 19 $2.7B
Capital raised per day, 13 to 19 October 2025
DayRoundsCapitalBiggest round
Mon 13 Oct19$266MEcorobotix, $105M
Tue 14 Oct40$2.7BOura, $900M
Wed 15 Oct35$997MTubulis, $358M
Thu 16 Oct36$2.4BChobani, $650M
Fri 17 Oct11$54.6MScap Hologram, $25.7M
Sat 18 Oct0$0K
Sun 19 Oct0$0K

Where the capital went

Health raised $2.7B, 43% of the capital. Choose a sector to filter the rounds below.

Capital by sector, 13 to 19 October 2025 43% Health Health $2.7B 21 rounds 43% AI $1.3B 53 rounds 21% Consumer $664M 4 rounds 10% Enterprise software $477M 9 rounds 8% Fintech $391M 14 rounds 6% Other sectors $756M 40 rounds 12%
Capital by sector, 13 to 19 October 2025
SectorCapitalShareRounds
Health$2.7B43%21
AI$1.3B21%53
Consumer$664M10%4
Enterprise software$477M8%9
Fintech$391M6%14
Climate & Energy$371M6%8
Robotics & Hardware$199M3%10
Cybersecurity$96.2M2%9
Other$49.4M<1%10
Web3$40.2M<1%3

Most active investors

Accel joined 6 rounds, leading 4, more than any other investor.

Most active investors, 13 to 19 October 2025Accel: 6 rounds, 4 led; General Catalyst: 6 rounds, 3 led; Bpifrance: 6 rounds, 1 led; Y Combinator: 5 rounds, 0 led; Khosla Ventures: 4 rounds, 2 led; Andreessen Horowitz: 3 rounds, 2 led; Eurazeo: 3 rounds, 2 led; Bessemer Venture Partners: 3 rounds, 2 led; Ribbit Capital: 3 rounds, 1 led; GV: 3 rounds, 0 ledLedJoined Accel 6 rounds · 4 led General Catalyst 6 rounds · 3 led Bpifrance 6 rounds · 1 led Y Combinator 5 rounds Khosla Ventures 4 rounds · 2 led Andreessen Horowitz 3 rounds · 2 led Eurazeo 3 rounds · 2 led Bessemer Venture Partners 3 rounds · 2 led Ribbit Capital 3 rounds · 1 led GV 3 rounds

The investor race, last 8 weeks

Ranked by rounds joined so far. Y Combinator finished first with 31 rounds over the last 8 weeks. The lead changed hands twice.

The investor race, the last 8 weeksY Combinator: ranks 1, 1, 2, 2, 1, 1, 1, 1, 31 rounds; General Catalyst: ranks 2, 2, 1, 1, 2, 2, 2, 2, 25 rounds; Accel: ranks 4, 4, 5, 4, 4, 4, 4, 3, 24 rounds; Lightspeed Venture Partners: ranks 3, 3, 3, 3, 3, 3, 3, 4, 21 rounds; Bpifrance: ranks 5, 5, 4, 5, 5, 5, 5, 5, 19 rounds W35W36W37W38W39W40W41W42 Y Combinator 31 rounds · 3 led General Catalyst 25 rounds · 11 led Accel 24 rounds · 13 led Lightspeed Venture Pa… 21 rounds · 8 led Bpifrance 19 rounds · 4 led
Rounds joined so far, the last 8 weeks
InvestorWeek 35Week 36Week 37Week 38Week 39Week 40Week 41Week 42
Y Combinator29101318222631
General Catalyst16101416171925
Accel024810151824
Lightspeed Venture Partners1581012161921
Bpifrance01579111319

Where the rounds were

United States raised $3.4B, 53% of the capital. Rounds in 25 countries.

Capital by country, 13 to 19 October 2025United States: $3.4B; Finland: $900M; Germany: $422M; Netherlands: $350M; United Kingdom: $309M; France: $260M; India: $218M; Switzerland: $105M; Israel: $77M; Denmark: $60M; Italy: $52.4M; Estonia: $51.5M United States $3.4B · 44 rounds Finland $900M · 1 round Germany $422M · 5 rounds Netherlands $350M · 2 rounds United Kingdom $309M · 17 rounds France $260M · 12 rounds India $218M · 23 rounds Switzerland $105M · 1 round

The cities that raised

San Francisco raised $701M, more than all of Asia ($313M). Rounds from 39 cities.

Capital by city, 13 to 19 October 2025San Francisco: $701M; San Diego: $600M; Munich: $358M; Amsterdam: $350M; South San Francisco: $254M; London: $219M; New Haven: $150M; Bengaluru: $133M; Los Angeles: $128M; New York: $103M; Oxford: $60.4M; Copenhagen: $60M San Francisco $701M · 9 rounds San Diego $600M · 1 round Munich $358M · 1 round Amsterdam $350M · 2 rounds South San Francisco $254M · 1 round London $219M · 12 rounds

Rounds by stage

Seed was the most common stage: 46 rounds, median $2.9M. The median round size is under each column.

Rounds by stage, 13 to 19 October 2025 18 Pre $1.1M 46 Seed $2.9M 24 A $15M 18 B $38M 9 C $85M 3 D $35M 3 E+ $300M 3 Growth $349M 17 Other $8.5M
Rounds by stage, 13 to 19 October 2025
StageRoundsMedian round
Pre-Seed18$1.1M
Seed46$2.9M
Series A24$15.3M
Series B18$37.5M
Series C9$85M
Series D3$35M
Series E+3$300M
Growth3$349M
Other or undisclosed17$8.5M

Sectors against the week of 6 to 12 Oct

Biggest gain: Health, +$2.1B. Biggest drop: AI, -$1.8B. Change in capital raised. Only where both periods have rounds.

Change in capital by sectors, 13 to 19 October 2025 against the week of 6 to 12 OctHealth: +$2.1B; Consumer: +$648M; Enterprise software: +$351M; Fintech: +$299M; Cybersecurity: +$4.3M; Web3: -$67.8M; Robotics & Hardware: -$324M; Climate & Energy: -$714M; AI: -$1.8B; Other: -$2.3B Health +$2.1B ×4.2 Consumer +$648M ×41 Enterprise software +$351M ×3.8 Fintech +$299M ×4.2 Cybersecurity +$4.3M +5% Web3 -$67.8M -63% Robotics & Hardware -$324M -62% Climate & Energy -$714M -66% AI -$1.8B -57% Other -$2.3B -98%
Sectors against the week of 6 to 12 Oct
Sectors13 to 19 October 2025the week of 6 to 12 OctChange
Health$2.7B$657M+$2.1B
Consumer$664M$16.2M+$648M
Enterprise software$477M$126M+$351M
Fintech$391M$92.4M+$299M
Cybersecurity$96.2M$92M+$4.3M
Web3$40.2M$108M-$67.8M
Robotics & Hardware$199M$523M-$324M
Climate & Energy$371M$1.1B-$714M
AI$1.3B$3.1B-$1.8B
Other$49.4M$2.3B-$2.3B

Countries against the week of 6 to 12 Oct

Biggest gain: Netherlands, +$345M. Biggest drop: United States, -$3.6B. Change in capital raised. Only where both periods have rounds.

Change in capital by countries, 13 to 19 October 2025 against the week of 6 to 12 OctNetherlands: +$345M; Germany: +$225M; United Kingdom: +$180M; India: +$138M; France: +$136M; Switzerland: +$99.2M; Italy: -$61.7M; United States: -$3.6B Netherlands +$345M ×70 Germany +$225M +114% United Kingdom +$180M +140% India +$138M +172% France +$136M +110% Switzerland +$99.2M ×18 Italy -$61.7M -54% United States -$3.6B -51%
Countries against the week of 6 to 12 Oct
Countries13 to 19 October 2025the week of 6 to 12 OctChange
Netherlands$350M$5M+$345M
Germany$422M$197M+$225M
United Kingdom$309M$129M+$180M
India$218M$79.9M+$138M
France$260M$124M+$136M
Switzerland$105M$5.8M+$99.2M
Italy$52.4M$114M-$61.7M
United States$3.4B$7B-$3.6B
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