Weekly edition
Week 39, 2026 (21 Sept to 27 Sept)
67 rounds and $3.8B raised. The biggest: TEKEVER, $580M.
Compared with week 38
- Rounds
- 67 -37%
- Capital raised
- $3.8B -65%
- Median round
- $19M -3%
Average of the 4 weeks before: 85 rounds, $8.4B a week. This week is -54% on capital.
The week in charts
AI took 52% of the capital this week, down from 65% in week 38. $3.8B in all, down 65% on week 38.
Mega-rounds against the rest
11 of 67 rounds made 72% of the capital.
| Rounds | Capital | |
|---|---|---|
| $100M or more | 11 | $2.8B |
| The rest | 56 | $1.1B |
Capital raised per day
The busiest day: Wed 23 Sept, $1.5B across 17 rounds.
| Day | Rounds | Capital | Biggest round |
|---|---|---|---|
| Mon 21 Sept | 5 | $172M | Rainmaker, $100M |
| Tue 22 Sept | 24 | $1B | Snorkel AI, $350M |
| Wed 23 Sept | 17 | $1.5B | TEKEVER, $580M |
| Thu 24 Sept | 18 | $1B | Island, $400M |
| Fri 25 Sept | 2 | $11.1M | Dextr AI, $6.7M |
| Sat 26 Sept | 0 | $0K | |
| Sun 27 Sept | 1 | $100M | Numeral, $100M |
Where the capital went
AI raised $2B, 52% of the capital. Choose a sector to filter the rounds below.
| Sector | Capital | Share | Rounds |
|---|---|---|---|
| AI | $2B | 52% | 28 |
| Health | $465M | 12% | 6 |
| Cybersecurity | $400M | 10% | 1 |
| Robotics & Hardware | $356M | 9% | 3 |
| Fintech | $265M | 7% | 11 |
| Climate & Energy | $211M | 6% | 4 |
| Enterprise software | $67.8M | 2% | 5 |
| Other | $62.2M | 2% | 7 |
| Consumer | $3.5M | <1% | 2 |
The 10 biggest rounds
The 10 biggest rounds raised $2.7B, 69% of the total.
Everyone who raised
67 companies raised $3.8B. A bigger tile is a bigger round.
Most active investors
Y Combinator joined 5 rounds, leading 1, more than any other investor.
The investor race, last 8 weeks
Ranked by rounds joined so far. Y Combinator finished first with 21 rounds over the last 8 weeks. The lead changed hands 3 times.
| Investor | Week 32 | Week 33 | Week 34 | Week 35 | Week 36 | Week 37 | Week 38 | Week 39 |
|---|---|---|---|---|---|---|---|---|
| Y Combinator | 2 | 6 | 8 | 10 | 13 | 16 | 16 | 21 |
| Andreessen Horowitz | 5 | 6 | 9 | 9 | 10 | 15 | 16 | 17 |
| General Catalyst | 0 | 1 | 3 | 4 | 5 | 8 | 14 | 16 |
| Lightspeed Venture Partners | 2 | 3 | 4 | 5 | 5 | 9 | 13 | 15 |
| Insight Partners | 1 | 1 | 1 | 1 | 4 | 6 | 10 | 14 |
Where the rounds were
United States raised $1.7B, 44% of the capital. Rounds in 15 countries, 21 with no country disclosed.
The cities that raised
New York raised $589M, more than all of Asia ($461M). Rounds from 31 cities.
Rounds by stage
Seed was the most common stage: 14 rounds, median $4.7M. The median round size is under each column.
| Stage | Rounds | Median round |
|---|---|---|
| Pre-Seed | 6 | $2M |
| Seed | 14 | $4.7M |
| Series A | 13 | $26M |
| Series B | 7 | $55M |
| Series C | 4 | $87.5M |
| Series D | 2 | $415M |
| Series E+ | 3 | $155M |
| Other or undisclosed | 18 | $9.2M |
Sectors against week 38
Biggest gain: Cybersecurity, +$317M. Biggest drop: AI, -$5B. Change in capital raised. Only where both periods have rounds.
| Sectors | Week 39, 2026 (21 Sept to 27 Sept) | week 38 | Change |
|---|---|---|---|
| Cybersecurity | $400M | $83.3M | +$317M |
| Health | $465M | $301M | +$164M |
| Consumer | $3.5M | $10M | -$6.5M |
| Climate & Energy | $211M | $266M | -$54.7M |
| Enterprise software | $67.8M | $250M | -$182M |
| Fintech | $265M | $530M | -$265M |
| Robotics & Hardware | $356M | $1.2B | -$817M |
| Other | $62.2M | $1.2B | -$1.1B |
| AI | $2B | $7B | -$5B |
Countries against week 38
Biggest gain: India, +$76.4M. Biggest drop: United States, -$3.2B. Change in capital raised. Only where both periods have rounds.
| Countries | Week 39, 2026 (21 Sept to 27 Sept) | week 38 | Change |
|---|---|---|---|
| India | $88.6M | $12.2M | +$76.4M |
| Spain | $56M | $5.6M | +$50.4M |
| France | $53.9M | $19M | +$34.9M |
| Netherlands | $50.6M | $234M | -$184M |
| China | $343M | $550M | -$207M |
| Italy | $18.8M | $270M | -$251M |
| United Kingdom | $145M | $486M | -$341M |
| United States | $1.7B | $4.9B | -$3.2B |
All rounds
- TEKEVERBuilds AI-powered autonomous drones and integrated surveillance intelligence systemsLed by UC Investments, with Merlyn Advisors, Crescent Cove +2 $580MSeries D · Portugal
- IslandProvides enterprise browser, data protection, and secure network infrastructureLed by Evolution Equity Partners, with Prysm Capital, Sequoia Capital +9 $400MSeries F · United States
- Snorkel AIBuilds data development tools and environments for training frontier AI systemsLed by Insight Partners, with Addition, March Capital +8 $350MUnited States
- Space EpochDevelops and launches commercial rockets for orbital transportation $343MChina
- Precision NeuroscienceDevelops brain-computer interfaces and implantable neural electrode systemsLed by Pershing Square Inc., with Duquesne Family Office, B Capital +7 $250MSeries D · United States
- VerdaProvides full-stack AI cloud infrastructure and compute capacityLed by Emergence Capital, with MUFG Innovation Partners, Supermicro +7 $189MSeries B
- RightwayManages pharmacy benefits and provides healthcare care navigationLed by Francisco Partners, with Thrive Capital, Khosla Ventures $155MSeries E · United States
- Brahma AIProvides AI tools for enterprise audiovisual content creation and managementLed by Multiples Alternate Asset Management $150M
- Basecamp ResearchDesigns therapeutics using biological foundation models and proprietary genetic dataLed by S32, with Menlo Ventures' Anthology Fund, Catalio Capital Management +9 $140MSeries C · United Kingdom
- NumeralAutomates sales tax compliance, filing, payment, and certificate managementLed by Insight Partners, with Salesforce Ventures, Geodesic +5 $100MSeries C · United States
- RainmakerUses drones and cloud seeding to produce and measure additional freshwaterLed by NOA VC, with Lowercarbon Capital, Dream Ventures $100MSeries B · United States
- UltravioletteDevelops electric motorcycles, scooters, vehicle platforms, and battery technologyLed by Yali Capital, with Lip-Bu Tan $85MSeries E · India
- EmaProvides AI employee agents for enterprise HR, IT, finance, and operationsLed by Creaegis, with Accel, S32 +2 $77MSeries B · United States
- BigHat BiosciencesDevelops AI-designed therapeutics and an agentic data platform for rapid protein design.Led by DFJ Growth $75MSeries C
- Anaconda BiomedDevelops thrombectomy catheters for treating patients with ischemic strokeLed by Omega Funds, with Asabys (Sabadell Asabys II), Ysios Capital +1 $56MSpain
- ConfidoAI platform automating finance, accounting, trade spend, and operations for CPG brandsLed by Insight Partners, with Trenches Capital, Watchfire +3 $55MSeries B
- AndeProvides an AI platform for booking and managing corporate entertainmentWith Lightspeed Venture Partners, Redpoint Ventures, Duration Ventures +2 $52MSeries A · United States
- MorphotonicsDevelops nanoimprint lithography platforms for photonic component manufacturingWith 3M Ventures, Innovation Industries, BOM +4 $45.9MSeries B · Netherlands
- ValsEvaluates AI models on real-world tasks and potential negative outcomesLed by Andreessen Horowitz $40MSeries A
- HIFIBuilds infrastructure for stablecoin payments and tokenized financial assetsLed by Left Lane Capital $37MSeries A
- BaselayerProvides identity verification and fraud prevention infrastructure for businesses and AI agentsLed by M13, with Picus Capital, Torch Capital +3 $35MSeries A · United States
- PaymobProvides omnichannel payment acceptance infrastructure for businessesLed by Mubadala Investment Company, with British International Investment (BII), Global Ventures +1 $35MSeries C · Egypt
- BiolevateAutomates scientific and regulatory workflows for life sciences organizationsLed by RAISE France, with MSD Global Health Innovation Fund, Station F +1 $34.4MSeries A · France
- Fieldpoint PrivateOperates a private commercial bank serving businesses and wealthy familiesLed by Strategic Value Bank Partners, LLC, with GCP Capital Partners, Patriot Financial Partners $34MUnited States
- PicoJoolDevelops optical interconnect technology using VCSEL lasers for AI data center connectivity.Led by Socratic Partners, with Hudson River Trading $27.5MSeries A
- ChamelioProvides AI-powered contract lifecycle management for in-house legal teamsLed by Entrée Capital, with Work-Bench, Emerge Ventures $26MSeries A · United States
- HEOProvides satellite imagery and geospatial intelligence servicesLed by Beaten Zone Venture Partners, with Australia's National Reconstruction Fund Corporation (NRFC), DCode Capital +3 $25M
- UltraSightDevelops AI-guided cardiac ultrasound workflows for non-sonographer cliniciansLed by Alive HealthTech Growth Fund, with Deep Insight, Star51 Capital +5 $24MSeries B
- Teal HealthAt-home HPV cervical cancer screening device and telehealth platformLed by .406 Ventures, with Emerson Collective (managed by Yosemite), Forerunner +2 $22MSeries A · United States
- SelaProvides voice AI agents that help lenders sell and originate mortgages.Led by Costanoa, with Emergence Capital $21MUnited States
- SpottAI-powered applicant tracking and CRM platform for recruitment agenciesLed by Balderton Capital, with Base10 Partners, Y Combinator +1 $21MSeries A · Belgium
- Basalt HealthAutomates patient transitions and admissions into post-acute care facilitiesLed by New Enterprise Associates (NEA), with Frist Cressey Ventures (FCV), 25m Health $20MSeries A
- AndoBuilds team messaging software for humans and AI agentsWith Accel, Index Ventures, Emergence Capital $20MSeed
- Mojave Energy SystemsDevelops liquid desiccant systems for efficient commercial building humidity controlLed by Fairtree Elevant Ventures, with River Bay Investments, At One Ventures +5 $19MSeries B · United States
- DialybridDevelops vascular access grafts for hemodialysis patients with kidney diseaseLed by XGEN Venture, with CDP Venture Capital $17.2MSeries A · Italy
- IPIDProvides bank account verification and payment intelligence to financial institutionsLed by Foundation Capital, with Citi, HSBC +3 $16MSeries A · Singapore
- NG.CASHProvides digital financial accounts and credit products for Brazilian consumersLed by Blockchain Capital $15MStrategic · Brazil
- NexstromDevelops wafer-scale single-crystal two-dimensional semiconductor manufacturing platforms.Led by Xora Innovation, with Foothill Ventures, SEEDS $12MSeed · Singapore
- Monetary MetalsOperates a marketplace enabling gold owners to earn yield $10.5MUnited States
- FlatkeyProvides unified access, billing, and discounts for AI model providers $10MSeries A · United States
- ZeliqProvides sales teams prospecting, data enrichment and multichannel outreach toolsLed by The Moon Venture, with Julien Jean (JJCapinvest), Sylvestre Blavet (Freelance.com) +2 $8MSeed · France
- PrimoUnifies device management, SaaS access, identity and IT support for companiesLed by Headline, with Arthur Waller, Romain Niccoli $7.9MFrance
- FluxniumExtracts uranium from seawater using high-surface-area adsorption fibersLed by Congruent Ventures, with Constellation Technology Ventures, Active Impact Investments $7MSeed · United States
- mikaAutomates bookkeeping, tax filings, and accounting for small businessesLed by Smedvig Ventures, with Wecken & Cie. (Care4 AG), Dennis Bemmann +5 $6.8MSeed
- Dextr AIBuilds AI agents for hotel reservations, guest service, staffing, sales, and marketingLed by Elevation Capital, with Foundation Capital $6.7MSeed · United States
- 50skillsAutomates employee workflows using integrations, deterministic automation, and AI agentsLed by Frumtak Ventures $6MIceland
- BenfordProvides technology-native statutory financial audits using software and human auditorsLed by firstminute capital, with Peter ter Maaten, Arthur Waller +3 $5.7MPre-Seed
- SubconsciousBuilds inference infrastructure for long-running artificial intelligence agentsLed by MassVentures, with Foothill Ventures, Underscore VC +3 $5.1MUnited States
- Metris EnergyProvides AI software for managing renewable energy assetsLed by PT1 Ventures, with Plug and Play, Love Ventures $5MSeed · United Kingdom
- Overlord LabsDevelops battery intelligence chips and algorithms for edge AI devicesLed by Band of Angels, with Foothill Ventures, Unlock Pacific Ventures +3 $4.3MSeed · United States
- KontextProvides runtime security and control software for enterprise AI agentsLed by 42CAP, with a16z CSX, High-Tech Gründerfonds $4M
- SolBuilds an AI assistant that identifies email commitments and completes related tasksLed by General Catalyst, with DeVC, Peercheque +1 $4M
- Sol FoundryBuilds an AI assistant that identifies email commitments and completes related tasksWith General Catalyst, Nexus Venture Partners, DeVC +2 $4M
- LightspringManufactures optical interfaces for photonic integrated circuits using 3D lithographyLed by Atlantic, with Concept Ventures, Ixcore +1 $3.6MSeed · France
- OWOW Venture StudioBuilds and backs early-stage B2B software startups for traditional industries $3MNetherlands
- infiniFiAutomates transparent on-chain deposit yield generation, returning more economics to depositors.Led by Electric Capital, with New Form Capital, Generative Ventures +5 $3M
- StarSlingBuilds agent-native CI and code review tools for software teamsWith Bessemer Venture Partners, Y Combinator $3MPre-Seed
- TopdogOperates real-money multiplayer skill games for sports fans and gamersLed by Boston Seed Capital, with The Raine Group, Bullpen Capital +3 $2.5MSeed
- DefinedgeProvides financial technology products and margin-funding servicesWith Nitin Agarwal, D. Prasad, Anant Jain +1 $2.3MPre-Seed · India
- Crux AnalyticsUses agentic workflows to help banks acquire and retain business customersLed by Castle Creek Launchpad, with Chartway Ventures, One Washington Financial +1 $2.2MSeed · United States
- DuquAdvances funds against outstanding invoices using AI underwritingWith Curiosity VC, No Such Ventures $1.7MPre-Seed · Netherlands
- GamindoTurns corporate content into interactive, measurable employee learning experiencesWith Club degli Investitori, Vento, Doorway +1 $1.6MSeed · Italy
- ONYACreates and sells lab-grown diamond jewellery through stores and onlineLed by Divisa Family Office, with Zeropearl VC $1.3MPre-Series A · India
- O-IDBuilds modular humanoid robots for industrial manufacturing and logisticsLed by TAWANI Ventures, with Hustle Fund, Techstars +1 $1.2MPre-Seed · Japan
- Life Lab ResourcesDevelops solutions to reduce food waste and recover value from discarded foodLed by Decarb123 Pte Ltd $1M
- ByteAskBuilds AI coding agents for C and C++ software developmentLed by Y Combinator, with angel investors from global quantitative trading firms $1MPre-Seed
- AMentoriaProvides test preparation and individual mentoring for university entrance examsLed by Triaxis Capital, with Insper Angels, Anjos do Brasil +3 $196KSeed · Brazil
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