Tenstorrent And Nuvig Top List

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This is a weekly feature detailing the top 10 funding rounds announced in the U.S. this week. Check out last week’s largest funding rounds here.

After a slow Thanksgiving week, investors made up for lost time with a series of large funding rounds. Venture capital firms allocate their funds quite generously, making large investments in areas such as semiconductors, biotechnology, and carbon capture.

1. Tan Torrent$693 million, semiconductors: Jim KellerChip startup Tenstorrent raises nearly Series D financing of US$700 million The financing brings its valuation to $2.6 billion. The cash infusion is provided by Samsung Securities and AFW Partnersand include Jeff Bezos‘ Bezos Adventure Tour and Fidelity Management Researchwait. Tan Torrent explain It plans to use the new funding to “build an open source AI software stack, hire developers, expand its global development and design centers, and build systems and clouds for AI developers.” The Santa Clara, Calif.-based startup was established In 2016, it has raised more than US$1 billion to date, Via Crunchbase.

2. Nuvig Therapeutics$161 million, biotech: This week’s big biotech funding round went to Menlo Park, Calif.-based Nuvig Therapeutics, which raised $161 million in Series B funding from Sanofi VenturesBlue Owl Healthcare Opportunities (formerly Cowen Healthcare Investments) and Norwest Ventures. The biotech startup is developing immune-modulating therapies for patients suffering from inflammatory autoimmune diseases. The company currently has a therapy that is about to enter Phase 2 clinical development. The company was founded in 2021 and has raised $208 million, Via Crunchbase.

3. family heirloom$150 million, carbon capture: Direct air capture company Heirloom raises funding Series B financing of US$150 million Funded by Positive future and Low carbon capital. The Brisbane, California-based climate technology company uses modified limestone to absorb carbon dioxide from the atmosphere. Heirloom’s new funding comes during a boom in investment in carbon capture startups. per Crunchbase datathe funding for this space is on track Reaching the highest or second-highest annual statistics since we began tracking the category. The company was established in 2020 and has raised Over $204 million.

4. Tractian$120 million, manufacturing: Manufacturing AI startup Tractian is the latest company to use the emerging technology to attract investors’ attention and grab market share Series C financing of US$120 million Funded by Sapphire Ventures. The Atlanta-based company’s artificial intelligence business is pretty simple. It combines hardware, software and artificial intelligence to help modernize manufacturing maintenance processes. The company calls itself the “industrial co-pilot” and addresses the growing concerns about industrial maintenance and unplanned downtime. The world’s 500 largest companies lost 11% of annual revenueabout 1.4 trillion US dollars. Founded in 2019, Tractian has raised more than $180 million. Via Crunchbase. In August 2023, the company completed $45 million in growth capital financing, led by universal catalyst.

5. maze therapy$115 million, biotech: South San Francisco-based Maze Therapeutics, a clinical-stage biopharmaceutical company developing drugs to treat renal, cardiovascular and metabolic diseases, completed a $115 million Series D financing co-led by investors Deep Rail Capital and Fraser Life Sciences. This round of financing does involve the conversion of outstanding convertible notes. The company was established in 2018 and has raised $496 million.

6. clearley$106 million, Healthcare: Denver-based cardiovascular imaging startup Cleerly has raised $106 million in Series C funding, led by Insight Partners. The company was founded in 2017 and has raised nearly $387 million, Via Crunchbase.

7. people$105 million, fintech: Investment platform public offering $135 million in equity and debt financing Because it hopes to develop research capabilities supported by artificial intelligence. The financing, which New York-based Public calls a Series D-2, includes $105 million in equity and $30 million in debt, including accelerator as a major investor. The company was established in 2019 and has raised more than US$300 million in venture capital.

8. Headwind safety$100 million, cyber security: As more and more companies move large amounts of data to the cloud, cloud security becomes very important. Cloud security company Upwind was able to capitalize on this trend, raising $100 million in funding from Handicraft business. The San Francisco-based startup is reportedly valued at $900 million following its new funding round. The company was established in 2022 and has raised US$180 million.

9. Anpu Robotics Co., Ltd.$91 million, recovered: Denver-based AMP Robotics, which creates AI-powered sorting systems for the waste and recycling industry, raised $91 million in Series D funding, led by Accord Venture Capital Company. The company was founded in 2015 and has raised $266 million, Via Crunchbase.

10. axado co., ltd.$60 million, cybersecurity: San Jose, Calif.-based hardware security startup Axiado has raised $60 million in Series C funding, led by maverick silicon. The company was established in 2017 and has raised $105 million.

Big global deals

Funding outside the U.S. has been slow this week, with only one round reaching nine figures.

methodology

We tracked the largest announced funding rounds in Crunchbase’s database raised by U.S. companies in the seven days between November 30 and December 6. Small time lag as there are some rounds reported later this week.

Illustration: Dom Guzman