The Week’s 10 Biggest Funding Rounds: No Summer Doldrums As Dollars Still Flow To AI

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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 deal roundup here.

It was not a holiday week on the funding front, as a raft of largely AI-focused companies closed big rounds. The largest of these was a $1.5 billion financing to enterprise AI startup Fireworks AI, and a Series D for meal and delivery provider Wonder. The week also included some big financings for enterprise tech, food delivery, drones and construction automation.

1. Fireworks AI, $1.5B, enterprise AI tools: Fireworks AI, a developer of tools for enterprises to turn “general-purpose models into specialized intelligence trained on their own data,” raised $1.505 billion in Series D funding. Atreides Management, Index Ventures and TCV led the financing, which set a $17.5 billion valuation for the San Mateo, California-based company.

2. Wonder, $650M, meals and delivery: Wonder, an operator of kitchens and meal delivery services, closed on $650 million in Series D funding at a $9 billion pre-money valuation. Capital will go in part toward expanding operations for the New York-based company, which currently has 140 locations.

3. Chai Discovery, $400M, life sciences AI: AI drug discovery startup Chai Discovery secured $400 million in Series C funding at a $3.8 billion valuation. Index Ventures led the financing, investing alongside Sequoia Capital, Dimension, Kleiner Perkins and others.

4. Walden Robotics, $300M, robots: Cambridge, Massachusetts-based Walden Robotics, a startup building general-purpose robots for work in manufacturing and logistics, launched out of stealth with $300 million in funding. Toyota and Deviation Capital led the round, which values the company at $1.1 billion.

5. Brinc, $125M, drones: Seattle-based Brinc, a developer of drones for use in public safety and emergency operations, raised $125 million in fresh funding. Motorola Solutions led the financing, with participation from Index Ventures, and Figma founder and CEO Dylan Field.

6. (tied) TerraFirma, $100M, construction automation: Austin-based TerraFirma, a developer of AI-enabled software and autonomous robotics technology for the construction industry, landed $100 million in new funding, bringing total investment to date to $115 million.

6. (tied) Spectro Cloud, $100M, enterprise AI: Spectro Cloud, a provider of AI infrastructure management software, said it raised more than $100 million in a Series D round led by Goldman Sachs Alternatives. The financing brings total capital raised by San Jose-based Spectro Cloud to $260 million.

8. Singularity, $80M, defense tech: Singularity, a startup focused on developing air defense technology, emerged from stealth with $80 million in Series A funding. Khosla Ventures and Felicis 1 led the financing, which set a $400 million valuation for the Los Angeles-based company.

9. (tied) Flex, $70M, fintech: San-Francisco-based fintech startup Flex, a private banking platform for high-net-worth business owners, raised $70 million in a Series B1 financing led by Halo Fund. The round follows the company’s $60 million Series B in December.

9. (tied) State Affairs, $70M, AI and policy: State Affairs, an AI platform for policy and regulation, secured $70 million in Series A funding led by Khosla Ventures and Founders Fund.

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of July 11-17. 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


  1. Felicis is an investor in Crunchbase. They have no say in our editorial process. For more, head here.