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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 year’s biggest funding deal roundup here.
After a big year for venture investment, fueled by the AI boom, 2026 is not showing signs of a slowdown. Quite the contrary, with the first full week of the year bringing us a whopping $20 billion new funding round for Elon Musk’s xAI. We also counted multiple rounds of over $100 million that look miniscule by comparison but are actually very large by traditional venture standards.
1. xAI, $20B, generative AI: Musk’s xAI, the generative AI startup known for its Grok chatbot and the parent company of X (formerly Twitter), said it secured $20 billion in Series E funding from a long list of venture and strategic investors. Founded in 2023, xAI has raised $42.7 billion in reported debt and equity funding to date, per Crunchbase data.
2. Parabilis Medicines, $305M, precision medicines: Cambridge, Massachusetts-based Parabilis Medicines announced that it raised $305 million in a Series F financing co-led by RA Capital Management, Fidelity, and Janus Henderson Investors. The financing will support continued clinical development of its peptide platform for cancer therapeutics.
3. Soley Therapeutics, $200M, biotech: Soley Therapeutics, developer of a cell stress sensing platform and a pipeline of therapeutics for neurodegenerative disorders and metabolic diseases, closed on $200 million in Series C funding. Surveyor Capital led the financing for the South San Francisco, California-based company.
4. LMArena, $150M, AI: San Francisco-based LMArena, a platform for evaluating AI models and systems, picked up $150 million in fresh funding. Felicis and UC Investments led the financing, which set a $1.7 billion post-money valuation, nearly triple the value at its seed round in mid-2025.
5. Diagonal Therapeutics, $125M, biotech: Diagonal Therapeutics, a biotech developing disease-modifying clustering antibodies that correct dysregulated signaling in severe genetic diseases, raised $125 million in Series B funding. Sanofi Ventures and Janus Henderson Investors led the financing for the Watertown, Massachusetts-based company.
6 (tied). Lyte, $107M, physical world AI: Mountain View, California-based Lyte, a startup focused on integrated perception for robotics and AI, emerged from stealth this week and disclosed it has raised $107 million in aggregate funding. The company says its mission is to “give robots the ability to see, understand, and operate safely in the physical world.”
6 (tied). EpiBiologics, $107M, biotech: EpiBiologics, a company working on tissue-selective extracellular protein degradation, said it completed a $107 million Series B financing. Google Ventures and Johnson & Johnson Innovation co-led the round for the San Mateo, California-based company.
8 (tied). Cambium, $100M, advanced materials: El Segundo, California-based Cambium, a startup developing advanced materials for defense, aerospace, and other sectors, secured $100 million in a Series B round led by 8VC.
8 (tied). Rakuten Medical, $100M, cancer therapeutics: Rakuten Medical, a San Diego-based startup focused on photoimmunotherapy for cancer treatment, raised $100 million in Series F financing led by TaiAx. The company is currently enrolling patients into its global Phase 3 trial for recurrent head and neck cancer.
10. Pomelo Care, $92M, virtual care: Pomelo Care, a virtual healthcare provider for women and children, raised $92 million in a Series C funding led by Stripes. The financing set a $1.7 billion valuation for the New York-based company.
Illustration: Dom Guzman
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