Atlas Data Storage, Anysphere, Quantum Systems | Deep Tech Capital Movements Vol. 17
The Week’s State of Deep Tech Capital: who’s Raising, who’s Betting, and why.
Welcome back to Deep Tech Capital Moments — the weekly analysis from The Scenarionist that tracks and highlights capital dynamics in deep tech, from early-stage funding rounds to major fund launches.
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Dear friends,
This week, the flow of capital across the deep tech landscape told a story that many of us in this space have been waiting to hear—not just a return to bold bets, but a recalibration of how those bets are being placed. Quietly but decisively, investors are shifting from frontier hype to frontier discipline. They’re not backing ideas anymore—they’re backing systems. Systems that work, scale, and survive friction. And what we’ve just witnessed is a week that—if you read it correctly—says more about the next 12 months of deep tech investing than most conferences ever could.
The signal is clearest in the divergence: on one hand, we saw massive platform plays like Anysphere raising $900 million to train a 400-billion-parameter multimodal coding AI; on the other, early-stage startups like Fastino and EdgeRunner are attracting capital for models that are smaller, cheaper, and specialized. That tension—between scale and specificity—is going to define the AI infrastructure race going forward. It’s not just about who has the biggest model anymore. It’s about who can actually run theirs on the edge, in the field, or within an enterprise that doesn’t want to ship its data to the cloud.
The same dynamic is playing out in biotech. We’re watching an industry shift from pipeline companies to platform ones. Inductive Bio raised $25 million to marry generative AI with wet-lab robotics, turning assay loops into high-throughput feedback engines. Trailhead Biosystems pulled in $20 million for a regenerative medicine platform that doesn't just produce cells—it optimizes how we build them. And on the RNA side, HAYA Therapeutics raised $65 million to move forward on fibrosis programs, while Nuevocor brought in $45 million to tackle cardiomyopathies through mechanobiology. These aren't narrow drug plays—they're integrated systems, built on infrastructure, data, and iteration. The best biotech startups today feel more like applied physics labs with revenue models.
But perhaps the most revealing movement happened not in a lab or a data center, but inside a DNA strand. Atlas Data Storage raised $155 million—yes, seed—to encode digital data into enzymatically written DNA. It's a moonshot that just became a real category, and what makes it remarkable isn’t just the capital, but the industrial seriousness of the investors and partners behind it. This is deep storage infrastructure, and it’s now on a clock. If DNA write speeds get fast enough, this will disrupt not just data centers, but energy, redundancy, and possibly even climate impact strategies. We’re talking about 10,000-year durability in an age where our cloud files are lucky to last a decade.
Meanwhile, on the manufacturing and materials front, we’re watching deep tech mature into real industrial workflows. 3D Spark raised a small but meaningful €2 million to optimize additive manufacturing strategies using AI, while Foundation Alloy and Alta Resource Technologies are engineering advanced metals and peptides to solve hard problems in component cost, mineral extraction, and critical supply chain dependencies. These are not sexy businesses, and that’s exactly why they matter. They are real, they are needed, and they are quietly pulling us into a post-carbon industrial age that doesn’t just make things—it remakes how we think about raw input and final output.
It’s worth paying attention, too, to where these companies are getting funded. Yes, the U.S. led the week in total dollar volume. But we saw consequential activity from Germany (Quantum Systems, €160M for AI-powered drones), the UK (Solena Materials and Breathe Battery), Switzerland (NovaMea and HAYA), Singapore (Nuevocor and Arysun), and even Greece, where Coffeeco Upcycle is turning coffee waste into bioplastics and skincare ingredients. The global map of deep tech is becoming less centralized and more distributed, and with funds like Adams Street Partners closing €270 million to back emerging European managers, and Marathon VC locking in €75 million in Athens, the center of gravity is shifting—subtly, but surely.
And funds formation is matching that shift. Adams Street’s move into European VC is a meaningful indicator: their €270 million fund will empower up to 20 emerging managers across the continent, with 70% aimed at primary fund commitments and 30% for co-investments. On the industrial side, Ara Partners closed a commanding $800 million infrastructure fund—underscoring how decarbonization, waste-to-value, and critical minerals are not just ESG plays anymore; they are infrastructure.
AI Fund, led by Andrew Ng, raised $190 million for its second vehicle to co-found AI-native startups, signaling that deep conviction and vertical execution still draw support when the team is proven. Bosch Ventures, in its sixth cycle, added another €250 million to back hardware and AI startups aligned with energy efficiency and sustainable mobility. All this while Deerfield closed $600 million for healthcare innovation, Vivo Capital pulled in $740 million for preclinical and clinical-stage biotech, and XPV Water Partners raised $625 million for water-tech and sustainable infrastructure.
And in the Global South, LaunchBay is assembling a $400 million fund for Indian deep tech and logistics, while Synergy Capital kicked off a $1 billion Asia-focused credit and infrastructure fund with $715 million already closed. Even Rotunda Capital, typically focused on industrials, just raised $735 million with an eye on founder-led innovation, and Hamilton Lane added a Venture & Growth evergreen product that opens access to accredited LPs looking for exposure to clean tech, semiconductors, and industrial platforms.
Zoom out just a bit more, and another pattern emerges. Much of the innovation this week sits at the edge—edge inference, edge compute, edge energy, edge autonomy. Whether it’s VSORA’s chip for ADAS systems, EdgeRunner’s secure LLMs in disconnected tactical environments, or CryoCloud’s cloud-based cryo-EM pipeline with Thermo Fisher integration, there’s a shared thesis here: centralized compute is no longer enough. The next decade will belong to architectures that run close to the problem, adapt in real time, and respect physical constraints like latency, privacy, or, quite simply, the lack of internet.
And finally, there's something to be said about restraint. For all the billion-dollar headlines, many of the most exciting rounds this week were under $20 million. Seed rounds for precision biology, sustainable textiles, microbial digestion for livestock—these aren’t just cap-table filler. They are micro-ecosystems of innovation. They tell us what’s coming next, in three to five years. And if you’re a fund that doesn’t have bandwidth to look at these tiny, weird, deeply technical things right now, you’re going to miss them entirely when they emerge as unavoidable later.
So what’s the takeaway this week?
For founders: your differentiation is no longer in the idea. It’s in the precision, the modularity, the execution, the pilot traction. Your business is a system, not a slogan. For investors: the froth is gone, but the edge has never been sharper. Deep tech is no longer a contrarian play—it’s a disciplined one. And for all of us tracking the movement of capital, talent, and time across this frontier… the signal is clear.
We’re not just funding the future anymore. We’re deploying it.
Until next week,
- Giulia
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🪨 Rush into Trash-to-Minerals;🛡️New EU Defense Unicorn; 🌖 Lunar Mining Milestone; 🛰️ Japanese Satellite IPO; ⚛️ Google Bets on Early-Stage Nuclear Sites & More | Deep Tech Briefing #60
In Today's Briefing:
- The Big Idea – What if the next mining revolution skips the mine entirely? Waste-to-rare-earths just became investable. A startup reframes resource extraction around molecular precision—transforming industrial residues into strategic feedstocks
- The Key Updates – Strategic minerals shift hands in Africa under U.S. cover. Nuclear infra gets privatized—corporates fund 10 GW directly. Japan primes orbital assets for public markets. Lunar regolith enters hardware phase. Controlled ag hits cash-flow positive. Fusion stalls on runway. Quantum comms get orbital hardening. Shipbuilding modernizes ops layer. Nuclear construction resumes after 50 years. Fermentation misses the margin curve. Biofabrication consolidates core IP.
- Deep Tech Power Plays – U.S. unlocks 10 mineral projects under permitting reform. Europe bids €500M to recruit global R&D. FAA greenlights Starship scale-up. Nuclear sentiment turns. State-level demand signals emerge for SMRs.
- Breakthroughs and Discoveries – Fusion design cycle drops 90% via math. Solar-heated lithium ponds boost IRR. Space debris raises liability exposure. Solid-state batteries hit industrial thresholds. Programmable biomaterials emerge from CRISPR. Synthetic DNA hits scale. Hypersonics enter reusable test loop. Imaging tech gets 50× sensitivity. PFAS becomes a solvable capex line.
Startup Deal Tracker
🔸 LightSonic Raises €3.3M Seed Funding for Photonics-Based Communication Technology
French startup LightSonic raised €3.3 million in seed funding to advance its photonics-based communication technology. The company develops ultra-fast, low-latency optical communication systems aimed at enhancing data transmission in various sectors, including telecommunications and data centers.
Deal: Seed Round
Region: France, Europe
Industry: Photonics
Sector: Optical Communications
Tech: Photonic Integrated Circuits, Optical Networking
🔸 3D Spark Raises €2M Seed Funding to Optimize Additive Manufacturing Processes
German startup 3D Spark secured €2 million in seed funding to enhance its software platform that optimizes additive manufacturing processes. The company's solution analyzes and recommends the most efficient 3D printing strategies, aiming to reduce costs and improve production times for manufacturers.
Deal: Seed Round
Region: Germany, Europe
Industry: Software
Sector: Additive Manufacturing
Tech: AI, Manufacturing Optimization
🔸 Fastino Raises $17.5 M Seed for Task-Specific Language Models (TLMs)
Fastino designs smaller, cheaper LLMs optimized per workflow, claiming 7× lower inference cost vs. GPT-4 on industry benchmarks. The Khosla-led seed funds compiler-level quantization research and an open-weights marketplace for domain TLMs. Pilot customers span fintech customer-service bots and pharma regulatory summarization.
Deal: Seed
Region: USA
Industry: AI Infrastructure
Sector: Model Compression
Tech: Task-Optimized LLMs
🔸 Inductive Bio Raises $25 M Series A to Marry Generative AI and Wet-Lab Robotics
NYC-based Inductive Bio will open-source a 10-billion-point chem-bio dataset to pre-train foundation models that jointly optimize potency and ADME. New capital funds a Long Island City cloud-lab running 5,000 automated assays per week under closed-loop ML control and supports milestone-driven discovery deals with mid-cap pharmas. The round was led by Obvious Ventures with Lux Capital and a16z Bio + Health.
Deal: Series A
Region: USA
Industry: TechBio
Sector: AI Drug Discovery
Tech: Generative-Chemistry Foundation Models
🔸 Atlas Data Storage Raises $155M Seed Round to Encode Data on DNA
South San Francisco-based Atlas Data Storage has emerged from stealth with a $155 million seed funding round and the acquisition of DNA data storage technology assets from Twist Bioscience. The round was backed by ARCH Venture Partners, Deerfield Management, Bezos Expeditions, Tao Capital Partners, Rsquared VC, Earth Foundry, and In-Q-Tel.Atlas aims to commercialize synthetic DNA-based storage solutions, offering ultra-dense, durable, and energy-efficient data storage for hyperscalers, enterprises, and government clients.
Deal: Seed Round
Region: USA, North America
Industry: Data Storage
Sector: Synthetic Biology, Information Technology
Tech: DNA Data Storage, Semiconductor Biochemistry
🔸 Quantum Systems Raises €160M to Scale AI-Powered Autonomous Drones
Munich-based Quantum Systems secured €160M in funding to accelerate global deployment of its AI-powered aerial intelligence systems. Backed by Balderton Capital, Airbus, Hensoldt, and others, the company will scale mass production and expand operations across Europe and APAC. Quantum’s modular UAS platform—combat-tested and commercially deployed—integrates AI, edge computing, and eVTOL for defense and industrial use.
Deal: Growth Round
Region: Germany, Europe
Industry: Aerospace & Defense
Sector: Autonomous Systems
Tech: AI, Robotics, Edge Computing
🔸 Exterra Raises $14M to Convert Mining Waste into Battery Materials
Montreal-based Exterra Carbon Solutions raised USD $14M (CAD $20M) in Series A funding to scale its platform for extracting battery-grade minerals from asbestos mine tailings. Backed by Clean Energy Ventures and BDC Capital, the company is building the world’s largest asbestos mitigation facility, aiming to convert over 300,000 tons of AMT annually into nickel and silica for EV and construction markets.
Deal: Series A
Region: Canada, North America
Industry: Cleantech
Sector: Battery Materials, Waste Valorization
Tech: Circular Economy, Materials Processing
🔸 Coffeeco Upcycle Secures €715K to Transform Coffee Waste into Bioplastics and Skincare Products
Coffeeco Upcycle raised €715,000 to commercialize its technology that converts spent coffee grounds into bioplastics and skincare ingredients. The company focuses on upcycling coffee waste to create sustainable materials, addressing both environmental concerns and market demand for eco-friendly products.
Deal: Pre-Seed Round
Region: Greece, Europe
Industry: Circular Economy
Sector: Bioplastics, Skincare
Tech: Waste Upcycling, Green Chemistry
🔸 Nuevocor Secures $45M Series B to Advance Gene Therapy for Genetic Cardiomyopathy
Singapore-based biotech company Nuevocor raised $45 million in a Series B round co-led by Angelini Ventures and Kurma Partners. The funding will support clinical proof-of-concept for its lead candidate NVC-001, an AAV-based gene therapy targeting LMNA-related dilated cardiomyopathy. Nuevocor's PrOSIA mechanobiology platform aims to develop pathway-specific genetic medicines for cardiac disorders.
Deal: Series B
Region: Singapore, Asia
Industry: Biotech
Sector: Gene Therapy
Tech: AAV Vectors, Mechanobiology
🔸 Solena Materials Raises €5.9M to Develop Synthetic Biology-Based Textiles
Solena Materials secured €5.9 million in Seed funding to scale production of its bioengineered protein fibers. Utilizing AI and synthetic biology, Solena designs novel protein sequences for high-performance, biodegradable textiles, offering sustainable alternatives to traditional synthetic fibers.
Deal: Seed Round
Region: UK, Europe
Industry: Materials Science
Sector: Sustainable Textiles
Tech: Synthetic Biology, AI-Driven Protein Design
🔸 Hoofprint Biome Raises $15M Series A to Reduce Methane Emissions in Livestock
Raleigh, agtech startup Hoofprint Biome raised $15 million in a Series A round led by SOSV, with participation from Amazon’s Climate Pledge Fund and others. The company develops probiotics and natural enzymes to improve cattle digestion and reduce methane emissions, aiming to enhance livestock sustainability.
Deal: Series A
Region: USA, North America
Industry: Agtech
Sector: Livestock Sustainability
Tech: Microbiome Engineering, Probiotics
🔸 Enthos Circular Feed Technologies Receives Investment to Scale Insect-Based Protein Production
Colombian startup Enthos Circular Feed Technologies secured investment from S2G Ventures and Ocean 14 Capital to develop one of Latin America's largest insect protein production facilities. Using black soldier fly larvae, Enthos aims to convert organic waste into sustainable protein and oil for animal and aquaculture feed, as well as organic fertilizer.
Deal: Undisclosed
Region: Colombia, South America
Industry: Agtech
Sector: Insect Protein Production
Tech: Insect Farming, Waste Valorization
🔸 Mondelēz Invests in eAgronom to Promote Regenerative Farming Across Europe
eAgronom received investment from Mondelēz International’s Sustainable Futures fund to expand its regenerative agriculture platform. eAgronom provides digital tools for farmers to improve soil health, measure carbon impact, and access carbon credit markets, aiming to manage over 4 million hectares by 2026.
Deal: Series A2
Region: Estonia, Europe
Industry: Agritech
Sector: Regenerative Agriculture
Tech: Farm Management Software, Carbon Tracking
🔸 Platos Health Raises $1.4M Pre-Seed for AI-Powered Metabolic Health Platform
Lagos-based healthtech startup Platos Health secured $1.4 million in pre-seed funding to develop its AI-driven platform for metabolic health management. The platform offers personalized health insights and interventions, aiming to address chronic conditions such as diabetes and obesity in African populations.
Deal: Pre-Seed Round
Region: Nigeria, Africa
Industry: Healthtech
Sector: Metabolic Health
Tech: AI, Digital Health
🔸 Foundation Alloy Raises $7.5M to Reinvent Advanced Metal Manufacturing
Boston-based Foundation Alloy has secured $7.5 million in funding to scale its proprietary mechanical alloying process, which produces ultra-strong metals without melting. The round was led by Alumni Ventures, America’s Frontier Fund, Engine Ventures, El Cap, Material Impact, and Yamaha Motor Ventures. This innovation promises enhanced performance in high-stress environments, particularly in defense, aerospace, and energy sectors. The funding will support scaling production and expanding partnerships across North America, Europe, and Asia.
Deal: Seed Round
Region: USA, North America
Industry: Advanced Manufacturing
Sector: Materials Science
Tech: Advanced Alloys, 3D Printing
🔸 Trailhead Biosystems Raises $20M to Advance Regenerative Medicine Platform
Ohio-based biotech company Trailhead Biosystems secured $20 million to further develop its regenerative medicine platform. The company utilizes a computational approach to optimize cell therapy manufacturing processes, aiming to improve the scalability and efficacy of regenerative treatments.
Deal: Series B
Region: USA, North America
Industry: Biotech
Sector: Regenerative Medicine
Tech: Computational Biology, Cell Therapy
🔸 Path Ex Raises $5M to Develop Blood Purification Technology for Sepsis Treatment
Houston-based medical device company Path Ex raised $5 million to advance its blood purification technology designed to treat sepsis. The company's platform aims to remove pathogens and toxins from the bloodstream, offering a novel approach to managing life-threatening infections.
Deal: Series A
Region: USA, North America
Industry: Medtech
Sector: Sepsis Treatment
Tech: Blood Purification, Medical Devices
🔸 Arysun Secures $575K to Democratize Solar Access in Southeast Asia
Singapore-based Arysun raised $575K in pre-seed funding led by Wavemaker Impact to expand solar energy adoption in Southeast Asia. The startup targets middle-income households in Indonesia, pairing affordable solar hardware with new financing models. Arysun builds on regional solar infrastructure trends, aiming to remove cost and access barriers in emerging markets.
Deal: Pre-Seed Round
Region: Southeast Asia
Industry: Climate Tech
Sector: Residential Solar
Tech: Solar Energy
🔸 HAYA Therapeutics Raises $65 M Series A to Advance RNA Therapy for Heart Failure
Swiss biotech HAYA closed a $65 million Series A led by BVF Partners and supported by M Ventures and Apollo Health. The cash accelerates IND-enabling studies for HTX-001, a long-non-coding-RNA therapy that shuts down fibrosis-driving gene programs in diseased hearts, and funds GMP manufacturing in Lausanne. HAYA will also broaden its Cardiff RNA discovery engine into metabolic and pulmonary fibrosis indications.
Deal: Series A
Region: Switzerland
Industry: Biotech
Sector: Cardiovascular RNA Therapeutics
Tech: lncRNA Modulation, GalNAc-ASO Delivery
🔸 WeRide Receives $100 M from Uber to Expand Robotaxis to 15 Cities
Uber’s $100 million strategic investment deepens its partnership with Guangzhou-based WeRide, targeting joint robotaxi launches across Europe, MENA, and the U.S. Sunbelt by 2027. Funds retrofit Level-4 AV stacks onto Uber-fleet Prius vehicles and build an operations hub in Madrid. WeRide projects 200 million autonomy-only kilometers by 2026.
Deal: Strategic Investment
Region: China / Global
Industry: Autonomous Mobility
Sector: Robotaxi Services
Tech: L4 AV Stack
🔸 Degradation Pulls in $39 M to Pivot From Molecular Glues to PROTACs
Fresh off preclinical data, Boston’s Degradation re-tooled its platform to design bifunctional PROTACs that outperformed its earlier glue pipeline. The Series B, led by Atlas Venture with Eli Lilly participation, bankrolls a KRAS-G12D degrader (DGN-101) headed for an oncology IND in 2026. Funds also build an in-house E3-ligase-profiling lab and bring on former Amgen CMO David Reese as executive chair.
Deal: Series B
Region: USA
Industry: Biotech
Sector: Targeted Protein Degradation
Tech: PROTACs, Ligase Mapping
🔸 Armatus Bio Secures $3 M to Advance miRNA Therapy for Muscular Dystrophy
Patient-led nonprofit Solve FSHD invested $3 million to drive ARM-201—an AAV-delivered microRNA silencing toxic DUX4 transcripts—through GLP toxicology in facioscapulohumeral dystrophy. Funds also cover process scale-up at Viralgen and a natural-history biomarker study with UCLA. Armatus is filing IP on muscle-specific miRNA scaffolds to protect expansion into limb-girdle dystrophies.
Deal: Venture Philanthropy
Region: USA
Industry: Biotech
Sector: Neuromuscular Gene Regulation
Tech: AAV-miRNA Therapy
🔸 Paradigm Therapeutics Raises $12.5 M to Finish Zorblisa™ for Epidermolysis Bullosa
South-Carolina’s Paradigm drew $12.5 million from Eshelman Ventures to wrap a Phase III confirmatory trial of SD-101 (Zorblisa™) for dystrophic EB. Proceeds cover NDA prep, validation lots, and an expanded-access program targeting 150 severe patients.
Deal: Growth Round
Region: USA
Industry: Biopharma
Sector: Dermatology / Rare Disease
Tech: Topical Small-Molecule Formulation
🔸 Trilobio Closes $8 M Seed to Put a Full Lab in a Box
San Francisco spin-out Trilobio raised an oversubscribed seed led by Initialized Capital to commercialize “Lab-Bot,” a dishwasher-sized robot automating cloning, culture, and analytics.
Deal: Seed
Region: USA
Industry: Lab Automation
Sector: Synthetic-Bio Tools
Tech: Modular Robotics, ML Scheduling
🔸 CryoCloud Raises €2 M Seed to Put Cryo-EM Workflows in the Cloud
Utrecht-based CryoCloud secured €2 million to integrate GPU-accelerated 3-D reconstruction and AI particle-picking into its SaaS pipeline. The startup will certify ISO-13485 compliance so pharma clients can submit CryoCloud-processed structures to regulators. A joint-development deal with Thermo Fisher gives early access to Talos Arctica data streams.
Deal: Seed
Region: Netherlands
Industry: TechBio
Sector: Imaging Informatics
Tech: Cloud-Cryo-EM, Computer Vision
🔸 NewLimit Lands $130 M Series B for Epigenetic Reprogramming & Longevity
The Kleiner Perkins– and Founders Fund-co-led round lifts NewLimit’s total to $210 million, funding GMP mRNA production for NL-201—a liver-targeted rejuvenation therapy—and discovery programs in thymic and hematopoietic aging.
Deal: Series B
Region: USA
Industry: Longevity Biotech
Sector: Cell Reprogramming
Tech: mRNA-Mediated Epigenetic Reset
🔸 Uviquity Emerges with $6.6 M Seed for Solid-State Far-UVC Disinfection
Uviquity has raised $6.6 million in seed funding to develop its solid-state far-UVC (200–230 nm) semiconductor light sources designed for safe, continuous, and chemical-free disinfection of air, food, and water. Uviquity's chip-based approach offers a compact, energy-efficient, and durable solution that can be integrated into light fixtures, air handling systems, food processing equipment, agricultural crop protection systems, water purification systems, and consumer appliances.
Deal: Seed Round
Region: USA, North America
Industry: Photonics
Sector: Disinfection Technology
Tech: Far-UVC Semiconductor, Photonic Integrated Circuits
🔸 Alt Mobility Attracts Beyond Capital Backing to Grow Commercial EV Leasing
Alt Mobility secured an undisclosed equity infusion to scale its asset-light leasing platform to 30,000 electric 3-wheelers and vans by 2027. Capital funds a digital asset-management system, standardizes swappable-battery specs, and opens a Chennai refurbishment center. Alt targets $100 million AUM within two years.
Deal: Equity (Undisclosed)
Region: India
Industry: EV Fleet
Sector: Leasing & Asset Management
Tech: Battery-Swap Analytics
🔸 PAQ Therapeutics Secures $39 M Series B to Push Autophagy-Tethering Chimeras
Burlington, MA-based PAQ Therapeutics has raised $39 million in a Series B financing round co-led by MRL Ventures Fund and Bayland Capital, with participation from Johnson & Johnson Innovation – JJDC, LAV Fund, BioTrack Capital, and existing investor Sherpa Health Partners. The funding supports the advancement of PT0253, a potent and selective degrader targeting KRAS G12D mutations, into Phase 1 clinical trials. KRAS G12D mutations are prevalent in various solid tumors, including pancreatic and colorectal cancers, and have historically been challenging to target.
Deal: Series B
Region: USA, North America
Industry: Biotech
Sector: Oncology
Tech: Targeted Protein Degradation, KRAS G12D Degraders
🔸 mPower Technology Raises $21 M Series B for DragonSCALES™ Space Solar
mPower landed $21 million—led by Razor’s Edge Ventures with Shield Capital—to scale production of its flexible, tiled GaAs photovoltaic modules for satellites. Funds will triple fab capacity, automate interconnect placement, and qualify DragonSCALES™ on a 12-kW GEO craft launching 2026. The company targets LEO communications and lunar power-station markets next.
Deal: Series B
Region: USA
Industry: Space Energy
Sector: Solar Power Systems
Tech: Tiled GaAs PV, Lightweight Interconnects
🔸 Alta Resource Technologies Extends Seed to $10 M for Protein-Based Mineral Extraction
Alta’s engineered peptides selectively chelate rare-earths from low-grade ores at ambient temperature, cutting acid use by 90 %. The DCVC- and Voyager-co-led extension funds a Kansas pilot plant and ISO 14001 environmental certification. Strategic investor In-Q-Tel will test the tech on U.S. DoD stockpiles.
Deal: Seed (Expanded)
Region: USA
Industry: Industrial Biotech
Sector: Critical Minerals
Tech: Engineered Binding Proteins
🔸 Breathe Battery Technologies Raises $21 M Series B to Predict Battery Performance
Breathe closed a $21 million Series B led by Kinnevik with Volvo Cars Tech Fund, funding its physics-informed ML “digital twin” that extends EV battery life by up to 17 %. The company will integrate its Design, Model, Map, and Charge products into OEM battery-management systems and hire 30 data scientists. Revenue has doubled YoY on contracts with JLR and Northvolt.
Deal: Series B
Region: UK
Industry: Energy Storage
Sector: Battery Analytics
Tech: Physics-Informed ML
🔸 CNaught Collects $4.5 M Seed to De-Risk Carbon-Credit Portfolios
CNaught offers a science-backed portfolio with an industry-first performance backstop guaranteeing ton delivery or replacement. The Bow Capital-led round accelerates registry integrations, ISO 14064 verification, and launches an SME-oriented API. Customers include Palantir, Asana, and Harvard Business School.
Deal: Seed
Region: USA
Industry: Carbon Markets
Sector: Offset Infrastructure
Tech: Portfolio-Guarantee, MRV Automation
🔸 NovaMea Raises $9M Series A to Scale Precious-Metal-Free Green Hydrogen Electrolyzers
Swiss cleantech startup NovaMea has secured $9 million in Series A funding to expand production of its advanced anion exchange membrane (AEM) electrolyzers for green hydrogen generation. The round, backed by international investors, will support scaling up manufacturing of the company’s proprietary membranes, ionomers, and catalyst-coated electrodes—all free of precious metals—and further R&D efforts.
Deal: Series A
Region: Switzerland, Europe
Industry: Cleantech
Sector: Green Hydrogen
Tech: AEM Electrolyzers
🔸 Anysphere Raises $900M to Scale AI Coding Tool Cursor to $9B Valuation
San Francisco-based Anysphere secured $900 million in a funding round led by Thrive Capital, with participation from Andreessen Horowitz and Accel, tripling its valuation to $9 billion. The company’s flagship product, Cursor, is an AI-powered code editor that integrates advanced AI features directly into the coding environment, enhancing developer productivity.
Deal: Series C
Region: USA, North America
Industry: Developer Tools
Sector: AI-Powered Code Editors
Tech: Generative AI
🔸 StackAI Lands $16 M Series A to Build No-Code Enterprise Agents
StackAI’s Lobby Capital–led Series A funds drag-and-drop agent builders that integrate with Snowflake, Salesforce, and Slack, letting non-dev teams automate data entry and reporting. Revenue grew 7× in six months across construction, local-government, and insurance verticals. The company emerged from YC W23 and counts Weaviate and Vercel CEOs among angel investors.
Deal: Series A
Region: USA
Industry: Enterprise AI
Sector: Autonomous Agents
Tech: Workflow-Aware LLM Orchestration
🔸 VSORA Raises $46 M to Tape-Out High-Performance AI-Inference Chip
VSORA’s Series B backs tape-out of Jotunn8, a multicore DSP + AI fabric delivering 400 TOPS at 50 W for automotive ADAS.
Deal: Series B
Region: France
Industry: Semiconductor
Sector: AI Hardware
Tech: Multicore DSP-AI SoC
🔸 Doubleword Secures $12 M Series A for Self-Hosted AI Inference
Doubleword lets enterprises run quantized transformer models on CPU-only clusters, avoiding CUDA lock-in. The Dawn Capital-led round funds support for TPU-v5 and adds a policy-engine that enforces on-prem data-sovereignty.
Deal: Series A
Region: UK
Industry: AI Ops
Sector: Edge Inference
Tech: ONNX Runtime, CPU/GPU-Agnostic Optimizer
🔸 EdgeRunner AI Raises $12 M for Secure, Offline Generative-AI at the Tactical Edge
EdgeRunner closed a $12 million Series A with HP Ventures and Paladin layering in, aimed at pushing 7-billion-parameter models onto ruggedized Jetson-Orin hardware. The platform enables disconnected defense and emergency-response environments to run LLMs locally with full-disk encryption.
Deal: Series A
Region: USA
Industry: Defense AI
Sector: Edge Compute
Tech: Model Distillation, Embedded GPUs
🔸 WisdomAI Secures $23 M Seed to Eliminate LLM Hallucinations
The TechCrunch-covered round brings in Lightspeed and Coatue to back provenance-tracking “proof chains” that attach sources to every generated token, meeting Fortune 500 compliance needs. WisdomAI’s SDK already plugs into OpenAI, Anthropic, and Llama-based stacks.
Deal: Seed
Region: USA
Industry: AI Infrastructure
Sector: Trust & Safety
Tech: Retrieval-Grounded Generation, Proof Chains
🔸 LayerX Extends Series A to $37 M for Secure Enterprise Browser
Tel Aviv–born LayerX hardens any Chromium browser against phishing and data exfiltration via real-time risk scoring at DOM level. The GlobeNewswire-noted extension fuels U.S. GTM, FedRAMP-moderate accreditation, and SAML-free deployment options. ARR tripled last year with Fortune 100 finance wins.
Deal: Series A (Extension)
Region: Israel / USA
Industry: Cybersecurity
Sector: Browser Security
Tech: Context-Aware Isolation
🔸 QbDVision Secures $13 M Series A to Digitize CMC in Pharma
QbDVision added $13 million to its Series A, bringing the raise to $28 million and cementing its Digital CMC platform as a new quality-management category. Funds expand EU sales, integrate ICH Q13 continuous-manufacturing modules, and pursue ISO 27001 certification. Enterprise customers span 11 of the top-30 pharmas.
Deal: Series A
Region: USA
Industry: PharmaTech
Sector: Quality-Management SaaS
Tech: Knowledge Graphs, GxP Compliance
🔸 Carta Healthcare Adds $18.25 M Series B-1 to Scale AI Clinical Abstraction
Carta uses human-in-the-loop NLP to extract structured variables from unstructured clinical notes for registries and trials. The UPMC Enterprises-led B-1 extends runway to 2027, funds EU MDR data-model support, and opens an Ann Arbor annotation center. Carta now processes data from 300+ U.S. hospitals.
Deal: Series B-1
Region: USA
Industry: Health IT
Sector: Clinical Data
Tech: Human-in-the-Loop NLP
🔸 Orca AI Raises $72.5 M Series B for Maritime Navigation Intelligence
Orca processes 80 million nautical miles of video and AIS data to prevent ship collisions and optimize fuel use. The Brighton Park-led Series B funds a Vancouver R&D office, Starlink-enabled edge units, and contracts with MSC and NYK. Orca aims for IMO autonomous navigation approval by 2028.
Deal: Series B
Region: UK
Industry: Maritime AI
Sector: Autonomous Shipping
Tech: Ship-Mounted CV + Sensor Fusion
🔸 Jericho Security Raises $15 M Series A for Deepfake-Proof Phishing Defense
Jericho uses generative AI to craft hyper-realistic spear-phishing simulations—including cloned voice and video—to train employees. The Era Fund-led Series A funds multilingual content and SOC2-Type II compliance.
Deal: Series A
Region: USA
Industry: Cybersecurity
Sector: Human Risk Management
Tech: Generative-AI Simulation
🔸 Valarian Raises $7 M to Compartmentalize Mission-Critical Data
Valarian built the ACRA platform that enforces micro-VM isolation and policy-based routing to sovereign cloud zones. The $7 million round—led by Scout Ventures with Artis and IQ Capital—funds a NATO Secret-level accreditation and opens a Montreal support center. Early pilots include the Bank of England’s RTGS core upgrade.
Deal: Seed Extension
Region: UK
Industry: Secure Infrastructure
Sector: Data Sovereignty
Tech: Policy-Enforced Micro-VMs
🔸 QNu Labs Secures $7 M Series A Led by India’s National Quantum Mission
QNu develops quantum-random-number generators and QKD hardware that slot into existing fiber networks. The INR 60 crore ($7 million) Series A expands manufacturing, pursues CE certification, and deploys a 1-Gbps QKD link for India’s stock exchange. Total funding now tops $20 million.
Deal: Series A
Region: India
Industry: Quantum Security
Sector: QKD / QRNG
Tech: Photonic Entropy Sources
🔸 OX Security Scores $60 M Series B to Prioritize the 5 % of Critical AppSec Risks
OX maps code-to-cloud attack paths and filters SBOM noise to spotlight exploitable issues. DTCP led the $60 million round, joined by IBM Ventures and Microsoft M12, funding a U.S. public-sector push and PCI-DSS scanning. The platform now protects 400 million containers per month.
Deal: Series B
Region: Israel
Industry: Cybersecurity
Sector: Software Supply-Chain
Tech: Graph-Based SBOM Analysis
🔸 Kind Designs Raises $5 M Seed for 3-D-Printed “Living” Seawalls
Kind Designs 3-D-prints concrete seawalls with reef-mimicking textures that protect coastlines and foster marine biodiversity. The Overlay Capital–led seed funds a 25-foot , NOAA bio-monitoring, and municipal pilots in Sarasota and Galveston. Founder Anya Freeman says the walls sequester 7 kg CO₂ per linear foot over 20 years.
Deal: Seed
Region: USA
Industry: Climate Adaptation
Sector: Coastal Infrastructure
Tech: Large-Format Concrete 3-DP
🔸 Gardin Raises $4.5 M Seed 2 to Deploy Photosynthesis Sensors at Scale
Gardin builds hyperspectral sensors and AI that read plant photosynthesis in real time, giving greenhouse growers early stress alerts. The Navus-Ventures-led Seed 2 funds mass production, edge-AI firmware, and a SaaS dashboard that delivered 10× ROI in pilot tomato farms. Gardin’s devices are now live across 11 million ft² of CEA facilities.
Deal: Seed
Region: UK
Industry: Agritech
Sector: Crop Monitoring
Tech: Hyperspectral Optics, Edge AI
Venture Capital & Funds to Watch
🔹 Adams Street Partners Closes €270 M Inaugural European VC Fund
Adams Street Partners raised more than €270 million for its first Europe-focused venture fund, closing on yesterday’s final close. The vehicle will back up to 20 emerging European VC managers over the next decade, with roughly 70 % deployed into primary funds and 30 % reserved for secondaries and co-investments into high-growth startups. Adams Street aims to leverage its global LP network to accelerate deep-tech and disruptive innovation across the continent.
🔹 Ara Partners Amasses Over $800 M for Debut Infrastructure Fund
Ara Partners wrapped its first Ara Infrastructure Fund I at more than $800 million, surpassing an initial $500 million target. The fund will target mid-market operators that help industrial customers decarbonize—investing across renewable fuels, waste-to-value, and critical-minerals processing—with commitments from pension funds, insurers, SWFs, endowments, and foundations in North America, Europe, and APAC. Ara plans to deploy capital via both direct co-investments and separately managed accounts alongside its fund structure.
🔹 AI Fund Closes Oversubscribed $190 M Fund II to Co-Found AI Startups
Andrew Ng’s AI Fund venture studio secured $190 million in an oversubscribed second fund to co-found AI startups, building on its initial $175 million vehicle. The capital will finance hands-on support—from ideation to talent acquisition—and extend the studio’s vertical plays in healthcare, climate, industrial AI, and developer tools. Backing from corporate LPs like AES, HP, Mitsui, and Mitsubishi, plus Sequoia and NEA, ensures deep expertise and go-to-market channels for new portfolio companies.
🔹 Bosch Ventures Launches Sixth €250 M Deep-Tech Fund
Bosch Ventures rolled out its sixth consecutive €250 million evergreen fund to back early-stage hardware, materials, energy, mobility, and AI startups that align with its “Invented for life” sustainability mission. The fund will support technologies driving energy efficiency, climate-neutral mobility, and connected-industry solutions across Europe, North America, and Asia. Bosch plans active board engagement and co-innovation partnerships between corporate business units and portfolio founders.
🔹 Marathon Venture Capital Locks Down €75 M Fund III Amid Greek Tech Boom
Marathon VC closed its third fund with €75 million in commitments—boosting its AUM to €175 million—to back founders across hard-tech, AI, and B2B platforms. The fund will focus on “nonconsensus” opportunities where local talent serves global markets, leveraging Marathon’s community events in 10 countries and past exits like Augmenta and Hack the Box. Marathon offers hands-on support, from seed terms to scaling, aiming to build “day-one” partnerships that deliver outsized returns.
🔹 Deerfield Management Unveils $600 M Healthcare Innovations Fund III
Deerfield Management closed over $600 million for its third Healthcare Innovations Fund III to invest in emerging therapeutics and health-tech platforms. The fund will underwrite promising drug programs, machine-learning diagnostics, and care-delivery improvements, tapping Deerfield’s network of 29 research institutions. Proceeds also support philanthropic efforts via the Deerfield Foundation, reinforcing the firm’s dual mission of investment and social impact.
🔹 Vivo Capital Secures $740 M to Back Preclinical & Clinical-Stage Biotechs
Vivo Capital raised $740 million in fresh commitments aimed at preclinical and clinical-stage life-sciences companies. The new capital will fund biotech startups specializing in oncology, rare diseases, and advanced cell & gene therapies. Vivo plans to expand its U.S. and Asia offices to deepen relationships with global scientific founders and co-investors.
🔹 XPV Water Partners Raises $625 M Across Two Water-Tech Funds
XPV Water Partners jumped its assets under management past $1 billion by securing over $625 million in new commitments to invest in water-tech, efficiency, and sustainable-infrastructure ventures. The fresh capital will fund growth and follow-on stages for companies working on desalination, leak-detection, circular-water orchestration, and water-reuse innovations. XPV plans to co-invest alongside strategic LPs and scale its involvement in high-impact water-sustainability projects globally.
🔹 LaunchBay Capital Targets $400 M India Fund to Back Deep-Tech & Logistics
Ex-Temasek India executives at LaunchBay Capital are raising a $400 million debut vehicle—allocating $100–150 million for co-investment alongside anchors—to back early-stage Indian startups in logistics, mobility, energy, and B2B deep-tech. The firm will deploy primary capital through seed and Series A rounds, leveraging its founders’ networks to source proprietary deal flow. LaunchBay aims to catalyze India’s next wave of platform innovations with operational support and follow-on funding flexibility.
🔹 Rotunda Capital Partners Closes Oversubscribed Fund IV at $735 M
Rotunda Capital Partners closed its largest fund ever—Fund IV—at $735 million, well above its $550 million target hard cap. The growth-oriented vehicle will pursue control and minority investments in founder- and family-owned industrial companies across North America, Europe, and Australia. Rotunda’s playbook of hands-on operational partnering and buy-and-build strategies aims to drive sustained EBITDA growth in portfolio platforms.
🔹 Hamilton Lane Launches Venture Capital & Growth Evergreen Fund
Hamilton Lane unveiled a new evergreen Venture Capital & Growth Fund open to accredited investors—including HNWIs—offering access to emerging-tech and infrastructure-growth opportunities. The fund will deploy capital into disruptive software, semiconductor, clean-energy, and industrial-infrastructure platforms across early to growth stages. Leveraging Hamilton Lane’s global private-markets platform, the vehicle provides diversified exposure, periodic liquidity, and an experienced co-investment pipeline.
🔹 Synergy Capital Raises $715 M in First Close Toward $1 B Asia Fund
Dubai-headquartered Synergy Capital kicked off Fund III with a $1 billion target, securing $715 million in its first close within two months of launch. The fund focuses on private-credit investments across Asia, alongside selective private-equity stakes in industrial and infrastructure-technology companies—particularly in India. LPs span sovereigns, pensions, and family offices from the U.S., Europe, Asia, and the Middle East, with a final close expected by May 2026.