Want to keep track of the largest startup funding deals in 2023 with our new curated list of $100 million-plus venture deals to U.S.-based companies? Check out The Crunchbase Megadeals Tracker.
This is a weekly feature that runs down the week’s top 10 announced funding rounds in the U.S. Check out last week’s biggest funding rounds here.
AI, space and biotech were the big winners this week, raising more than $2 billion in the top five rounds.
The last several weeks have definitely seen the big megarounds come back. Will investors keep it up as we enter fall? Time will tell.
1. Anthropic, $1.25B, artificial intelligence: It may be hard for some startups to fundraise, but not Anthropic. The San Francisco-based company — a ChatGPT rival with its AI assistant Claude — inked a deal with Amazon for the e-commerce and cloud titan to invest up to $4 billion in the AI startup. The new investment gives Seattle-based Amazon a minority stake in Anthropic. The immediate investment is $1.25 billion, with either party having the right to trigger another $2.75 billion in funding, Reuters reported. As part of the deal, Anthropic will now use Amazon Web Services data centers, as well as AWS Trainium and Inferentia chips to build, train and deploy its models. Anthropic did not announce a new valuation with the round. The new investment is just the latest in what has become a fundraising spree for Anthropic this year. In February, it was reported that Google had invested between $300 million and $400 million in the startup. In May, the company raised a $450 million Series C led by Spark Capital. Finally, just last month, Anthropic raised a $100 million round from SK Telecom.
2. Sierra Space, $290M, space: Space tech funding isn’t what it used to be, but don’t tell Sierra Space. The Louisville, Colorado-based commercial space startup raised a $290 million Series B co-led by MUFG, Kanematsu Corp. and Tokio Marine & Nichido Fire Insurance. The round values the company at $5.3 billion. Sierra has been in development of the first commercial space station for five years and will use the new cash to forge new partnerships. In 2021, the company closed a $1.4 billion Series A investment led by General Atlantic, Coatue and Moore Strategic Ventures.
3. Avalyn Pharma, $175M, biotech: This was a big week for biotech — as you’ll see — and Avalyn Pharma kicks it off on this list. The Seattle-based company, which develops inhalation therapies for life-threatening pulmonary diseases, raised a $175 million Series C co-led by Perceptive, Xontogeny Venture Funds, SR One and Eventide Asset Management. The company plans to use the cash to continue development of its portfolio of inhalation therapies for lung disease. Founded in 2011, the company has raised nearly $273 million, per Crunchbase.
4. AlphaSense, $150M, artificial intelligence: AI-driven market intelligence platform AlphaSense locked up a $150 million Series E led by Bond Capital at a $2.5 billion valuation — an increase of nearly 30% from its raise just in April. The New York-based startup’s market intelligence and search platform — powered by AI and natural language processing — helps clients form corporate and investment strategies. The raise comes just about five-and-a-half months after the company raised a $100 million round at a $1.8 billion valuation. In total, the company has now raised more than $770 million since its founding.
5. Harbinger Health, $140M, biotech: Back to biotech, as Cambridge, Massachusetts-based Harbinger Health announced a $140 million Series B that included an investment from Flagship Pioneering, which founded the company. Harbinger is developing ways to detect cancer early and enabling new approaches to cancer screening, diagnosis and management. Founded in 2020, Harbinger has raised approximately $190 million, per the company.
6. Alto Pharmacy, $120M, health care: San Francisco-based online pharmacy Alto Pharmacy raised $120 million at an $800 million post-money valuation, per Axios. Investors were not named in the report. Founded in 2015, the company has raised $680 million, per Crunchbase.
7. Evozyne, $81M, biotech: Chicago-based biotech firm Evozyne announced the closing of an $81 million Series B to fund its generative AI-powered drug discovery platform. The round was co-led by Fidelity Management & Research Co. and OrbiMed. Founded in 2020, the company has raised more than $144 million, per Crunchbase.
8. Arc Boats, $70M, electric vehicles: Los Angeles-based electric boat-maker Arc Boats raised a $70 million Series B led by Eclipse. Founded in 2021, the company has raised $100 million, per Crunchbase.
9. Kneron, $49M, artificial intelligence: San Diego-based Kneron, an AI software and hardware developer, locked up a $49 million strategic funding from investors including Foxconn, Foxconn Co-GP Fund and Alltek. Founded in 2015, the company has now raised $212 million, per Crunchbase.
10. Adela, $48M, biotech: Foster City, California-based Adela, a developer of blood testing for cancer detection, closed a $48 million round from several investors, including RA Capital Management. Founded in 2020, the company has raised $108 million, per Crunchbase.
Big global deals
Anthropic led the way globally, but there were big rounds overseas.
- China-based AI chip startup Enflame raised a huge round worth nearly $274 million from investors including funds linked to a government authority in Shanghai, per a Reuters report. The chipmaker is backed by Tencent.
We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the seven-day period of Sept. 23 to Sept. 29. 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
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