Tech funding weekly

Welcome to our #5 weekly newsletter on funding in the technology sector.

This newsletter is designed for the busy investors in the tech startup scene, including venture capitalists, private equity professionals, and hedge funds, as well as investment bankers and startup founders. Plus, everyone else that wants to keep abreast of what is happening in the buoyant tech funding scene.

Our aim is not only to provide a newsletter on tech funding, but also granular data that our subscribers can use in their line of work. This includes a comprehensive list with company names, investors, type of fundings, sectors, and business descriptions, among others. For more information, please contact us at [email protected].

TF AnalytiX team.

For the past week, we counted 99 funding rounds for a total value of about $3 billion, up by about $600 million from the past week. It was a great week for fintech and artificial intelligence companies. There is solid competition in the artificial intelligence sector, with three companies raising more than $100 million. Salesforce, Felicis and General Catalyst are among the lead investors that invested in the sector. And we did not include in this list Genesis Therapeutics, a healthcare company that uses generative artificial intelligence for drug development.

Figure 1. Top funded sectors between August 21 and August 27.

Source: TF Analytix.

Pre-seed

Pre-seed companies raised about $7 million across four transactions, with real estate tech receiving the bulk of funding money.

Seed

There were 39 transactions in seed funding, with a total funding amount of about $285 million. A fourth of that money was raised by Poolside AI, a startup that wants to create the ChatGPT for code. Poolside, founded by the former CTO of GitHub, raised $126 million from US VC Felicis, the Aydin Senkut-led venture capital firm that previously invested in companies like Adyen, Canva, Plaid, and Runway AI.

Series A

Series A was also rich in transactions this week, with 21 companies raising a total of $269 million. Artificial intelligence, fintech, foodtech and agtech saw some of the largest rounds.

Series B

There were 7 transactions in Series B, with a total amount raised of $481 million. Healthtech saw the largest two transactions.

Series C

Axiom Space has secured a monster fundraising round to build the first commmercial space station. Saudi Arabia-based Aljazira Capital led the round with participation from South Korea-based healthcare company Boryung.

Series D

Just three transactions were announced in this funding round, with fintech comapnies Ramp, a B2B financial services provider, and Teamshares, an employee ownership platform for small businesses, securing the largest funding rounds.

Series F, Venture and Growth

About $540 million were raised in these categories, with cybersecurity firm Spyccloud and artificial intelligence comapny Modular raising the largest funding rounds.

Interesting reads this week: