Weekly edition
Week 43, 2026 (19 Oct to 25 Oct)
74 rounds and $21.5B raised. The biggest: DeepSeek, $15B.
Compared with week 42
- Rounds
- 74 -20%
- Capital raised
- $21.5B ×6.2
- Median round
- $20M +67%
Average of the 4 weeks before: 84 rounds, $4.2B a week. This week is ×5.1 on capital.
The week in charts
AI took 92% of the capital this week, up from 51% in week 42. DeepSeek alone raised $15B, 70% of it.
Mega-rounds against the rest
16 of 74 rounds made 95% of the capital.
| Rounds | Capital | |
|---|---|---|
| $100M or more | 16 | $20.4B |
| The rest | 58 | $1.1B |
Capital raised per day
The busiest day: Thu 22 Oct, $15.7B across 18 rounds.
| Day | Rounds | Capital | Biggest round |
|---|---|---|---|
| Mon 19 Oct | 10 | $273M | Nouscom, $135M |
| Tue 20 Oct | 18 | $2.7B | Tenstorrent, $1.5B |
| Wed 21 Oct | 20 | $2.2B | Flapping Airplanes, $1B |
| Thu 22 Oct | 18 | $15.7B | DeepSeek, $15B |
| Fri 23 Oct | 7 | $450M | Warp Sciences, $215M |
| Sat 24 Oct | 0 | $0K | |
| Sun 25 Oct | 1 | $34M | Mave, $34M |
Where the capital went
AI raised $19.8B, 92% of the capital. Choose a sector to filter the rounds below.
| Sector | Capital | Share | Rounds |
|---|---|---|---|
| AI | $19.8B | 92% | 32 |
| Other | $669M | 3% | 15 |
| Health | $301M | 1% | 6 |
| Enterprise software | $284M | 1% | 5 |
| Robotics & Hardware | $251M | 1% | 6 |
| Cybersecurity | $100M | <1% | 1 |
| Fintech | $52.1M | <1% | 4 |
| Consumer | $39.5M | <1% | 3 |
| Climate & Energy | $19.4M | <1% | 2 |
The 10 biggest rounds
The 10 biggest rounds raised $19.6B, 91% of the total.
Everyone who raised
74 companies raised $21.5B. A bigger tile is a bigger round.
The 63 biggest of 74. Open on a wider screen for all of them, or see every round below.
Most active investors
Sequoia Capital 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 21 rounds over the last 8 weeks. The lead changed hands 5 times.
| Investor | Week 36 | Week 37 | Week 38 | Week 39 | Week 40 | Week 41 | Week 42 | Week 43 |
|---|---|---|---|---|---|---|---|---|
| Y Combinator | 3 | 6 | 6 | 11 | 13 | 15 | 18 | 21 |
| Andreessen Horowitz | 1 | 6 | 7 | 8 | 12 | 17 | 17 | 19 |
| Insight Partners | 3 | 5 | 9 | 13 | 15 | 16 | 16 | 18 |
| Accel | 1 | 5 | 5 | 7 | 10 | 10 | 15 | 18 |
| General Catalyst | 1 | 4 | 10 | 12 | 13 | 14 | 15 | 18 |
Where the rounds were
China raised $15B, 70% of the capital. Rounds in 20 countries, 31 with no country disclosed.
The cities that raised
San Francisco raised $704M, more than all of South America ($130M). Rounds from 33 cities.
Rounds by stage
Series A was the most common stage: 11 rounds, median $20M. The median round size is under each column.
| Stage | Rounds | Median round |
|---|---|---|
| Pre-Seed | 9 | $1.1M |
| Seed | 10 | $6.3M |
| Series A | 11 | $20M |
| Series B | 3 | $50M |
| Series C | 2 | $64M |
| Series D | 3 | $135M |
| Series E+ | 2 | $400M |
| Growth | 2 | $27.5M |
| Other or undisclosed | 32 | $28.2M |
Sectors against week 42
Biggest gain: AI, +$18B. Biggest drop: Climate & Energy, -$190M. Change in capital raised. Only where both periods have rounds.
| Sectors | Week 43, 2026 (19 Oct to 25 Oct) | week 42 | Change |
|---|---|---|---|
| AI | $19.8B | $1.8B | +$18B |
| Enterprise software | $284M | $76.3M | +$208M |
| Other | $669M | $571M | +$98M |
| Cybersecurity | $100M | $4M | +$96M |
| Health | $301M | $262M | +$38.2M |
| Robotics & Hardware | $251M | $246M | +$4.8M |
| Fintech | $52.1M | $143M | -$91.1M |
| Consumer | $39.5M | $185M | -$146M |
| Climate & Energy | $19.4M | $210M | -$190M |
Countries against week 42
Biggest gain: France, +$155M. Biggest drop: United States, -$324M. Change in capital raised. Only where both periods have rounds.
| Countries | Week 43, 2026 (19 Oct to 25 Oct) | week 42 | Change |
|---|---|---|---|
| France | $250M | $95.2M | +$155M |
| Spain | $8.4M | $21.9M | -$13.5M |
| United Kingdom | $2.5M | $19M | -$16.4M |
| Germany | $9M | $95.7M | -$86.7M |
| India | $67.5M | $160M | -$92.7M |
| United States | $526M | $850M | -$324M |
All rounds
- DeepSeekDevelops artificial intelligence models and open-source AI systemsWith Tencent, CATL, IDG Capital +2 $15BChina
- TenstorrentDevelops artificial intelligence chips and computing hardwareLed by Trace Capital, with Agostinelli Group, ARK Invest +2 $1.5B
- Flapping AirplanesDevelops efficient GPU software for training and serving large AI modelsLed by Index, with Sequoia, GV +1 $1BSeries A
- LegoraProvides artificial intelligence software for legal professionalsLed by Atreides Management, with Baron Capital, Capital Group +9 $550MSeries E · Sweden
- ASILed by Spark Capital, with Citadel Securities, Meritech Capital +1 $325M
- Otter.aiProvides artificial intelligence software for voice transcription and collaborationWith General Catalyst's Customer Value Fund $320M
- XonaOperates a low Earth orbit satellite navigation network giving GPS devices centimeter-level positioning and timing.Led by Future Ventures, with Seraphim $250MSeries D
- PigmentProvides AI-powered business planning and performance management softwareLed by Scaleup Europe Fund, with EQT, WIL (World Innovation Lab) +5 $250MSeries E · France
- Warp SciencesBuilds U.S. chemistry contract research services using AI and robotics for drug discovery.Led by Lightspeed, with NVIDIA, IVP +4 $215M
- WhopProvides a platform for selling and discovering digital productsLed by Sequoia, with Shopify $205M
- Arda IndustriesUses AI to turn product designs into factory assembly plansLed by Altimeter, with XYZ Venture Capital, 8VC +2 $160MSeries A · United States
- Eka RoboticsBuilds dexterous robots for automated industrial and commercial tasksLed by Andreessen Horowitz (a16z), with Obvious Ventures, E14 Fund +4 $150M
- NouscomDevelops cancer immunotherapies targeting neoantigens for cancer interceptionLed by M Ventures, with Angelini Industries, Angelini Investments +8 $135MSeries D · Switzerland
- TractianDevelops AI solutions that monitor industrial equipment and detect failuresLed by Sapphire Ventures, with N47, General Catalyst +6 $130MSeries D · Brazil
- TownDevelops AI assistants that help teams coordinate and complete workLed by Forerunner Ventures, with Andreessen Horowitz, First Round Capital $108M
- BlackwallProvides cybersecurity solutions protecting organizations from online threatsLed by AVP, with Dawn Capital, MMC Ventures +1 $100M
- Dream LabsDevelops shared artificial intelligence systems for low-cost robotsLed by B Capital, with A.Capital, Unusual Ventures +4 $90M
- BlacksmithProvides cloud infrastructure for automated software code building and testingLed by Sequoia Capital, with Premji Invest, Peak XV Partners +2 $66MSeries C · United States
- Hexagon BioDiscovers novel antibody-drug conjugate payload mechanisms for cancer treatmentLed by The Column Group, with Nextech Invest, Deviation Capital +2 $62MSeries C · United States
- KevelProvides infrastructure for retailers and marketplaces to build commerce media networksWith Fulcrum Equity Partners, dunnhumby Ventures LLC, Iberis Capital +1 $52M
- FormicFormic delivers Robotics as a Service to mid-market CPG manufacturers. No CapEx. No Risk. No Problems. Industrial palletizing, case packing, and more.Led by Mercato Partners, with Light Ray Ventures, Lightscape Partners +2 $50MSeries B
- Even HealthcareOperates membership-based primary care, diagnostics, and hospital servicesLed by Khosla Ventures, with Alpha Wave $50MSeries B · India
- Cognitive CreditReal-time credit data, analytics and AI insights across public and private bond and loan markets. Book a demo to see it in action.Led by Summit Partners, with ETFS Capital $40M
- WILDEMakes protein chips and crackers from chicken breast and egg whitesWith S2G Investments $40MStrategic · United States
- BabaUses AI and human care teams to navigate complex Medicare healthcare needsLed by FirstMark Capital, with CVS Health Ventures, Valtruis +3 $40MSeries A · United States
- ZAP Surgical SystemsBuilds a self-shielded cranial radiosurgery system for neurosurgeons and radiation oncologists.Led by Catalio Capital Management, with Baheal $36M
- Watchtower LabsBuilds AI software that generates and stress-tests military courses of action under fuel and transport constraints.Led by Shield Capital, with Founders Fund, IQT $35MSeed
- CoastProvides financial software, cards, expense management, and bill pay for field businessesLed by Thomvest Ventures, with Intuit Ventures, Small World Capital +9 $35MGrowth · United States
- MaveUses AI agents to investigate security alerts across existing security technology stacks $34MIsrael
- Mach9Uses AI to turn infrastructure scans into digital engineering blueprintsLed by First Round Capital, with Prudence, Quiet Capital $34MSeries A · United States
- Beyond VisionDevelops unmanned aerial systems and vehicles using artificial intelligenceLed by Índico Capital Partners, with ActiveCap $31.4MPortugal
- MaxinsightsPays contractors to film real-world work for robot training datasetsLed by Peak XV, with Tola Capital, South Park Commons +2 $30MSeed
- Slingshot InsuranceProvides AI-native infrastructure and insurance capacity for MGAs, software platforms, and distributors.Led by Rally Ventures, with Jim Hays $27MSeed
- Dan-O's SeasoningMakes and sells seasoning blends through retail and online channelsWith The Newcastle Network $25MStrategic · United States
- Arctic TherapeuticsDevelops genetic-discovery-based treatments for neurological and inflammatory diseasesLed by Pekron $21.5MIceland
- AuxoAIHelps enterprises identify AI use cases and build production systemsLed by NTTVC, with George Still Jr., Amit Zavery +1 $20.7MSeries A
- ABM Respiratory CareDevelops respiratory care products and solutions for patients and cliniciansWith Trinity Capital Inc. $20MGrowth
- Prism Data TecnologiesProvides cash flow underwriting software and analytics that help lenders expand approvals and lower losses.Led by Story Ventures, with FINTOP Capital, Core Innovation Capital (Core VC) $20MSeries A
- HephaestusSupplies rare-earth-free high-temperature superconductors and develops lower-cost fusion power.Led by CiRi Ventures $17.2M
- FirstworkAutomates frontline employee onboarding with AI agentsLed by Earlybird Venture Capital, with Legion VC, Deel Ventures +5 $15M
- MuralProvides compliant payment, account and financial infrastructure for fintech platformsLed by Tether, with North Island Ventures $15MSeries A · United States
- QuantrolOxBuilds software that automates tuning and control of quantum computersLed by IW Capital, with European Innovation Council (EIC) Fund, Transpose Capital $13.4MSeries A · Finland
- IMIODevelops biological agricultural products and technologies for farmersLed by Sofinnova Partners, with Cultivate Next, Starshot Capital +3 $12M
- The Pant ProjectDigital-first menswear brand specializing in pants and other clothingLed by Mirae Asset Venture Investments (India), with Sorin Investments, Hyperscale Ventures +4 $11.5MSeries B · India
- Photon BridgeDevelops scalable laser technology for AI data centre communicationsLed by Amadeus APEX Technology Fund, with Innovation Industries, Faber +1 $11.2MNetherlands
- VECKTAProvides solar and storage planning and procurement software for businessesLed by Origin Ventures, with Tech Square Ventures, VoLo Earth Ventures +6 $11MSeries A · United States
- Ultra SecuritySecures autonomous AI agents, tools, servers, and software connectorsWith Ludlow Ventures, Hidden Capital, Entrée Capital +3 $10MSeed
- YGOConnects travel companies with structured inventory through AI booking infrastructureLed by Ventech, with Sake Bosch, Caesar Capital +1 $9MSeries A · Germany
- LinkenerDigitises and optimises energy management for businessesLed by Klima Energy Transition Fund, with GoHub Ventures $8.4MSpain
- IndurexProvides AI-native security for industrial cyber-physical systemsLed by Contrarian Ventures, with Axeleo Capital, Curiosity $7.8MNetherlands
- OpplyUses AI agents to manage sourcing, procurement, financing, and supply chainsLed by Chalfen Ventures, with Index Ventures, Anthemis +3 $7.5M
- CureBayOperates technology-enabled clinics providing healthcare services to patients in underserved areas.Led by IvyCap Ventures, with Trifecta Capital, Alteria Capital +1 $7.3M
- PreScalarTest and data platform for advanced manufacturing and factory firmwareLed by Dynamo Ventures, with Blue Wire Capital, Uplift Ventures +1 $7MSeed · United States
- RosieProvides flexible childcare and household support through a membership platformLed by Bling Capital, with Graham & Walker, Marketplace Capital +7 $7MUnited States
- KodamaBuilds autonomous and teleoperated machinery for forestry operationsWith Konvoy Ventures, Breakwater Ventures, Blue Forest Asset Management +5 $7MUnited States
- DrizzleXDetects building water leaks and waste using smart fixture sensorsLed by Israel Investment Fund Group, with a consortium of DrizzleX customers, David Gershov $6.8MSeries A · United States
- SonexosDevelops plasma-based systems for reducing low-frequency industrial noiseLed by Valquest Partners, with industry angels and private investors $6.1MPre-Seed · Switzerland
- BOB AI Holdings Corp.Provides an AI finance agent and banking platform for small businessesLed by Mischief, with Peter Thiel, Codie Sanchez +2 $5.5MSeed · United States
- Pythag TechProvides data-driven AI platform optimizing cultivated meat production processes, licensed to food companies.Led by Azolla Ventures, with Endurance28, Haytham Samad $4.3MSeed
- PlintoUses AI agents to detect and resolve financial transaction errorsWith People Ventures, Emblem $3.3MPre-Seed · Denmark
- Coherence QuantumDevelops cryogenic signaling and control hardware for quantum computersLed by Lifeline Ventures, with Mårten Mickos $3.1MSeed · Finland
- Harajuku TokyoOperates a Japanese-inspired café chain in India $3MIndia
- Karta AIDevelops voice AI agents for inbound financial-services customer callsLed by PeerCapital, with Wyser VC, CDM Capital +1 $3MSeed · India
- ReduckBuilds browser automation technology enabling AI agents to interact with websitesLed by Daphni, with Drysdale Ventures, Galion.exe $3MPre-Seed
- VectorialSimulates human behavior to test digital products before launchWith Smilegate, SenseAI Ventures, Berkeley SkyDeck +3 $3MSeed · United States
- CoComplyA new way to govern your data. Certify your most critical data assets in four steps, with ease and confidence. AI-powered governance for banks.Led by Mercia Equity Finance, with Haatch, Richard Law +2 $2.5MUnited Kingdom
- RulenAutomates tax and accounting workflows with an AI operating platformLed by VC Partners, with Growth Engine, AME Ventures +2 $2MItaly
- HapWareBuilds haptic wristbands that translate facial expressions and gestures into touchLed by Adaptation Ventures, with Sidecut Ventures, Mines Venture Fund +2 $1.5MPre-Seed · United States
- HuppaProvides gym and studio management software for operations, payments, and reportingWith Founders of Sentia, Founders of Keylane, Founders of TicketSwap +3 $1.1MPre-Seed · Netherlands
- Arke TelekomDevelops communications technology for unmanned aerial vehicles in contested environmentsWith ACT Venture Partners $1.1M
- CapQuestProvides equity management, cap table and shareholder communication softwareLed by Oraseya Capital $1MPre-Seed · United Arab Emirates
- JenzProvides AI software that automates retail operations and connects business dataWith Antler, Ada Ventures $607KPre-Seed
- theQAProvides AI-assisted surveys and consumer research insights for businessesWith Kuwaiti family office, strategic angel investors $550KPre-Seed · Kuwait
- INVEProvides invitations, RSVP management, guest profiles, and digital event entry toolsWith Outliers VC $300KPre-Seed · Saudi Arabia
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