Want to track the biggest startup funding deals in 2024 with a curated list of $100M+ venture deals for US-based companies? Check out the Crunchbase Megadeals board.
This is a weekly feature highlighting the top 10 funding rounds announced that week in the US. Check out last week’s biggest funding rounds here.
This is the last weekly Top 10 of the year, and there are some pretty big rounds, especially in the fintech world. Overall, 2024 was filled with large deals, with megadeals surging with more than 280 rounds of $100 million or more.
1. First, $300 million, fintech: Fintech startups are struggling to raise money this year, but being majority-owned by the world’s largest retailer clearly makes things a little easier. According to Bloomberg, Walmart is leading a $300 million round in fintech startup One along with investment firm Rivit Capital. The company offers installment loans, debit cards and payment services, and represents Walmart’s major expansion into financial services. The new round values the Sacramento, California-based startup at $2.5 billion, according to the report.
2. Liquid AI$250 million, Artificial Intelligence: What would a week be without a huge boost from generative AI? Liquid AI. AMD At a valuation of $2.3 billion, According to Bloomberg. The Cambridge, Massachusetts-based company has created Liquid Foundation Models, lightweight general-purpose AI models that require less data and computing power. Oddly enough, the company’s model actually uses a mathematical approach discovered by studying worm brains. Founded in 2023, the company has raised more than $290 million. Around crunch base.
3. Zest AI, $200 million, fintech: Yes, another big fintech round. This was done by Burbank, California-based Zest AI, which secured a $200 million growth investment from Insight Partners. The startup uses AI to aid credit underwriting, and its technology provides more sophisticated and accurate scoring methods. The new funding will enable Zest to add to its current product portfolio and advance its anti-fraud and generative AI technologies. The company was founded in 2009 and has raised approximately $358 million to date, according to Crunchbase.
4. Ayar Labs, $155 million, semiconductors: Ayar Labs has secured a $155 million Series D led by Advent International and Light Street Capital at a valuation of more than $1 billion. A number of strategic companies participated in the new round, including AMD Ventures, Intel Capital, Nvidia, and 3M New Ventures. Ayar’s optical solutions for transmitting data replace older electrical solutions and help users maximize the computational efficiency and performance of their artificial intelligence infrastructure while reducing costs and power consumption. Ayar is just the latest optical interconnect startup to solve AI bottlenecks in computing and power usage. In October, Lightmatter locked up a $400 million Series D led by new investor T. Rowe Price at a valuation of $4.4 billion. The round follows a $155 million raise, nearly quadrupling the company’s previous valuation of $1.2 billion in December last year. The same week, Xscape Photonics (a New York-based startup that also uses photonics technology to address energy, performance, and scalability challenges in AI data centers), led by IAG Capital Partners and with investment from Cisco and others, announced Raised $44 million in Series A. Investment and Nvidia. Founded in 2015, Ayar has raised $370 million to date, according to the company.
5. Capstan Medical, $110 million, medical devices: Capstan Medical, a startup developing robot-enabled minimally invasive technology to treat heart valve disease, raises $110 million in Series C led by Eclipse Ventures raised dollars. With more than 7 million people living with heart valve disease in the United States, it’s no wonder investors were interested in the company. The Santa Cruz, California-based company was founded in 2020 and has raised more than $141 million to date, according to Crunchbase.
6. Speak, $78 million, edtech: Speak, a startup that wants to help people learn new languages through AI, has raised $78 million in new Accel-led Series C funding. Within six months, it doubled its valuation and reached unicorn status at $1. 1 billion valuation. It was just last June that the San Francisco-based startup announced a $20 million Series B extension at a valuation of $500 million. Of course, such valuation spikes are nothing new for startups that incorporate AI into their products. In the case of Speak, its platform generates audio conversations between the app and the user, and AI helps users improve their fluency. The company says it has created more than 25 million personalized lessons for users this year alone and has introduced an enterprise offering for employers since its last round of funding. Founded in 2016, Speak has raised $162 million, according to the company.
7. Veladermix, $75 million, Pharmaceuticals: New Haven, Conn.-based Veladermix, a biopharmaceutical company developing treatments for common skin conditions, is a $75 million series led by Svretta Capital Management. B was closed. The company plans to use the new cash to fund its ongoing clinical development of a hair loss treatment. The company was founded in 2019 and has raised nearly $111 million to date, according to Crunchbase.
8. Giggs, $73 million, Mobile: Giggs, a San Francisco-based developer of operating systems for mobile services, has raised $73 million in Series B led by Ribbit Capital. The startup plans to use the new funding to expand its geographic footprint and invest in new products. Gigs allows technology companies to quickly build connectivity into their products. The company was founded in 2021 and has raised $97 million, according to Crunchbase.
9. (Tie) Players Health, $60 million, Healthcare: Players Health, a Minneapolis-based athlete and sports insurance provider, completes a $60 million Series C led by Bluestone Equity Partners. did. Players Health was founded in 2012 and has raised more than $100 million, according to the company.
9. (Tie) Sublime Security, $60M, Cybersecurity: Sublime Security, an AI-powered email security platform, announced a $60M Series B led by IVP. Sublime, founded in 2019 and based in Washington, DC, announced it has raised $93.8 million.
Large scale global transactions
The largest amount of funding outside the US came from Asia.
India-based Rebel Foods, which operates multiple food brands, has raised $210 million in Series G funding.
methodology
We tracked the largest announced rounds in the Crunchbase database raised by US-based companies over a seven-day period from December 7th to December 13th. Most announcement rounds are visible in the database, but there may be a slight lag. As some rounds will be reported later in the week.
Illustration: Dom Guzman
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