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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 the biggest funding rounds of last week here.
Although there were a handful of nine-figure rounds this week, funding news, in general, seemed quiet. No round topped $200 million, and even one of the large rounds was a down round. Quite the change from last week, which saw the biggest venture investment ever and 11 rounds hit $100 million or more.
1. Base Power, $200M, energy: Battery startup Base Power raised a $200 million Series B as the startup looks to expand nationally. The round was led by Addition. The Austin, Texas-based startup installs residential backup power systems — designed to charge batteries specifically when electric prices are low. Founded in 2023, the company has raised $268 million, per Crunchbase.
2. Caris Life Sciences, $168M, biotech: The intersection of AI and biotech is big right now and this week gave another example of how big. Irving, Texas-based Caris Life Sciences, which is developing medicine through molecular profiling and the application of advanced AI and machine learning algorithms, raised a $168 million growth round led by Braidwell. Founded in 2018, the company has raised $1.9 billion, per Crunchbase.
3. Merida Biosciences, $121M, biotech: Biotech startup Merida Biosciences launched this week. The Cambridge, Massachusetts-based firm, which is developing therapeutics designed to selectively eliminate the pathogenic antibody drivers of multiple autoimmune and allergic diseases, announced it also had collected $121 million in a Series A financing co-led by Bain Capital Life Sciences, Biotechnology Value Fund and Third Rock Ventures.
4. Rescale, $115M, simulation: Digital engineering platform Rescale locked up a $115 million Series D. The San Francisco-based startup provides a digital engineering platform that integrates cloud computing resources, intelligent data management tools, and applied AI to accelerate modeling and simulation. No lead investor was disclosed, but those participating include Applied Ventures and Nvidia. Founded in 2011, Rescale has raised more than $260 million, per the company.
5. Nuro, $106M, autonomous driving: Nuro, a developer of autonomous driving technology and software, raised $106 million in an ongoing Series E that values the company at $6 billion. The new deal would represent a cut from the reported $8.6 billion it was valued at in 2021 after raising a $600 million Series D led by Tiger Global Management. Since that round, the Mountain View, California-based company has faced major challenges including slashing its workforce and a change in business strategy, moving away from its delivery vehicles for packages to now licensing its autonomous driving software. Founded in 2016, Nuro has raised $2.2 billion to date, per the company.
6. Amca, $77M, aerospace: El Segundo, California-based Amca, which develops critical aerospace and defense products, launched with a $76.5 million initial funding round. No lead investor was announced, but investors include Andreessen Horowitz and Founders Fund.
7. (tied) Brinc Drones, $75M, drones: Brinc Drones, a Seattle-based manufacturer of emergency response drones, raised a $75 million round led by Index Ventures. Founded in 2017, the company has raised $157 million, per Crunchbase.
7. (tied) Rain, $75M, fintech: Santa Monica, California-based Rain, which offers early wage access and financial wellness information, locked up a $75 million Series B led by Prosus Ventures. Founded in 2019, the company has raised nearly $504 million in debt and equity, per Crunchbase.
9. Tessell, $60M, database: Tessell, offering database-as-a-service, announced a $60 million Series B led by WestBridge Capital. Founded in 2021, San Francisco-based Tessell has raised $94 million, per the company.
10. nEye Systems, $58, semiconductors: Emeryville, California-based nEye Systems, an optical switch startup, raised a $58 million Series B led by CapitalG. Founded in 2020, nEye has raised $72.5 million, per the company.
Big global deals
The biggest raise this week came from our neighbors to the north.
- Canada-based cybersecurity firm Tailscale raised a $160 million Series C that values the company at $1.5 billion.
We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the seven-day period of April 5 to April 11. 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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