The Week’s 10 Biggest Funding Rounds: OpenAI Takes The Spotlight With Record-Setting $110B Round

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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 going to be a fairly business as usual top 10 list this week until

OpenAI

decided to disrupt our Friday with news that it raised $110 billion in new funding. Yes, $110

billion

. That is so much money, and so record-setting as a private company funding round, that it makes all those other $100 million and $200 million rounds we usually write about look very paltry by comparison.

That said, we did nonetheless see a number of these kinds of rounds, in sectors including semiconductors, AI, healthcare and biotech.

OpenAI

, $110B, artificial intelligence:

Generative AI giant OpenAI

announced

that it has raised $110 billion in new investment at a valuation of $730 billion pre-money, or $840 billion post-money. The deal includes $50 billion from

Amazon

, $30 billion from

SoftBank

, and $30 billion from

Nvidia

. San Francisco-based OpenAI says more investors are expected to join as the round progresses.

2. (tied)

MatX

, $500M, semiconductors:

MatX, a startup that designs custom chips and hardware architectures to support large language models, secured $500 million in Series B funding as it prepares to scale manufacturing.

Jane Street Capital

and

Situational Awareness

led the financing for the Mountain View, California-based company.

2. (tied)

Vero Networks

, $500M, broadband

: Boulder, Colorado-based Vero Networks, a fiber infrastructure and broadband internet provider, picked up $500 million in a growth funding round backed by

Braemont Capital

Hamilton Lane

and

Delta-v Capital

Shine Technologies

, $240M, fusion:

Janesville, Wisconsin-based Shine Technologies, a developer of fusion technologies with applications in the medicine and energy sectors, raised $240 million in equity funding led by

NantWorks

Revel

, $150M, hardware testing tools:

Revel, developer of a software platform for hardware test and control, closed on $150 million in Series B funding.

Index Ventures

led the financing for the Los Angeles-based company, which plans to expand its offerings across aerospace, defense, robotics and industrial sectors.

Honest Health

, $140M, healthcare:

Nashville, Tennessee-based Honest Health, a provider of tech-enabled tools for primary care providers, secured $140 million in a new financing led by

NewSpring

Slate Medicines

, $130M, biotech:

Slate Medicines, a startup working on therapeutics for headache disorders, announced its launch alongside $130 million in Series A financing.

RA Capital Management

Forbion Capital Partners

and

Foresite Capital

led the investment for the Raleigh, North Carolina-based company.

Ubicquia

, $106M, smart infrastructure:

Fort Lauderdale, Florida-based Ubicquia, provider of an analytics platform for smart lighting, grid monitoring and public safety applications, raised $106 million in Series D funding.

67 Capital

and

Marunouchi Innovation Partners

led the financing for the 12-year-old company.

9. (tied)

Basis

, $100M, AI-enabled accounting:

Basis, an AI agent platform for accountants, closed on $100 million in Series B funding at a $1.15 billion valuation.

Accel

led the round for the New York-based startup, along with

Google Ventures

Lloyd Blankfein

and

Khosla Ventures

9. (tied)

Aalyria

, $100M, satellite and network communication:

Google

spinout Aalyria, a developer of software that configures communications satellites to meet demand, secured $100 million in Series B funding.

Battery Ventures

and

J2 Ventures

led the financing for the Livermore, California-based company.

9. (tied)

Viture

, $100M, smart glasses:

Viture, a San Francisco-based maker of extended reality (XR) smart glasses and accessories, says it

raised

$100 million in a financing led by

Legend Capital

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of Feb. 21-27. 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

— Source: Crunchbase News (https://news.crunchbase.com/venture/biggest-funding-rounds-ai-openai-semiconductors-matx/)