The Week’s Biggest Funding Rounds: Biotech And Space Tech Bring In The Money

Want to keep track of the largest startup funding deals in 2024 with our curated list of $100 million-plus venture deals to U.S.-based companies? Check out The Crunchbase Megadeals Board.

This is a weekly feature that runs down the week’s top 10 announced funding rounds in the U.S. Check out the biggest funding rounds of last week here.

Thus far 2025 has come roaring in as far as large rounds go. Last week more than a dozen companies raised $100 million or more. This week there are fewer, but not by many, as companies needed to raise at least $100 million to make this list.

1. Truveta, $320M, biotech: Medical data research company Truveta landed a massive $320 million investment from Regeneron Pharmaceuticals, Illumina and 17 U.S. health systems as it continues to build the world’s largest genetic database. The deal values privately held Truveta at more than $1 billion. Truveta aggregates medical records data from its partner institutions to link treatments with outcomes and other health aspects. Its platform is updated daily. Founded in 2020, the company has raised $515 million, per Crunchbase.

2. Stoke Space, $260M, space: Reusable rocket startup Stoke Space locked up a $260 million Series C as the space tech sector looks to build off a successful 2024 in terms of fundraising. The Kent, Washington-based company is developing fully reusable rockets that make low-cost access to and from space possible. It intends to use the new funding to complete construction of its  Nova launch vehicle at the Cape Canaveral Space Force Station in Florida. The new round involves new and existing investors including Breakthrough Energy Ventures, Glade Brook Capital Partners, Seven Seven Six and the University of Michigan, among others. Founded in 2019, Stoke has raised more than $480 million, per the company. After a slow-ish 2023, last year saw a bit of a bounce-back for the space tech industry in venture funding. In 2024, VC-backed space tech startups raised $8.3 billion, per Crunchbase data. That number is a 17% jump from the $7.1 billion raised in 2023, but short of the $9.2 billion invested in 2022.

3. Colossal Biosciences, $200M, genetics: Colossal Biosciences, a de-extinction startup looking at ways to bring back the dodo bird and the woolly mammoth, raised a $200 million Series C at a $10.2 billion valuation. The new cash infusion came from TWG Global, a holding company jointly led by Mark Walter and Thomas Tull. The Dallas-based startup, which launched in 2021, plans to use the money to continue to advance its genetic engineering technologies, as well as grow its software and hardware solutions for applications involved with de-extinction, conservation and human health care. The company said bringing back extinct animals could allow for a better understanding of evolutionary change in other species, and that genetic engineering applications also will help enhance food production and reduce environmental impact. It was January 2023 when Colossal Biosciences raised a $150 million Series B to further its de-extinction platform. The round was led by Tull’s US Innovative Technology Fund. Since launching in September 2021, Colossal has raised $435 million, per the company.

4. Tune Therapeutics, $175M, biotech: Epigenetic programming startup Tune Therapeutics raised a huge $175 million round led by Hevolution, New Enterprise Associates, Regeneron Ventures and Yosemite. The funding is expected to advance development of the company’s existing pipeline, which is currently anchored by its clinical-stage epigenetic silencing drug for chronic Hepatitis B. The cash also will be used to  support the development of additional gene, cell and regenerative therapy programs. Founded in 2020, the company has raised $215 million, per Crunchbase.

5. Loft Orbital, $170M, space: Space infrastructure startup Loft Orbital raised a $170 million funding round led by Axial Partners and Tikehau Capital. The San Francisco-based company builds satellites to which customers can attach components like sensors and telescopes. Founded in 2017, the company has raised $326 million, per Crunchbase.

6. Caidya, $165M, biotech: Raleigh, North Carolina-based Caidya, a mid-sized clinical research organization, locked up a  strategic growth investment of $165 million from funds managed by Rubicon Founders, a U.S.-based healthcare investment firm. Caidya offers biopharma companies an array of clinical trial services from regulatory strategy and submissions through post-approval surveillance. Founded in 2021, this is the first round raised with a disclosed amount, per Crunchbase.

7. Phantom, $150M, crypto: San Francisco-based Phantom Technologies, a crypto wallet startup, raised a $150 million round led by Paradigm and Sequoia Capital, valuing the startup at $3 billion. Founded in 2021, the company has raised $268 million, per Crunchbase.

8. (tied) Harbinger, $100M, electric vehicle: Los Angeles-based electric commercial trucking startup Harbinger raised a $100 million Series B co-led by Capricorn Investor Group and Leitmotif. Founded in 2021, the company has raised more than $200 million, per Crunchbase.

8. (tied) Instabase, $100M, data: San Francisco-based Instabase, which creates artificial intelligence-powered solutions to help companies handle unstructured data, locked up a $100 million Series D led by Qatar Invastment Authority. Founded in 2015, the company has raised $292 million, per Crunchbase.

8. (tied) Umoja Biopharma, $100M, biotech: Seattle-based Umoja Biopharma, a developer of in vivo cell therapies, announced the closing of a $100 million Series C co-led by DCVC Bio and Double Point Ventures. Founded in 2019, the company has raised $363 million, per Crunchbase.

Big global deals

The biggest funding round this week went to a China-based firm.

• Smart Fabric, which provides internet-enabled solutions for the textile industry, raised a $460 million Series C.

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the seven-day period of Jan. 11 to Jan. 17. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

Illustration: Dom Guzman