TLDR:
- Lambda secured the top spot with a $320M funding round in the artificial intelligence sector.
- Biotech companies dominated the week with multiple large-scale funding rounds.
In the week of Feb 10 to Feb 16, U.S.-based startups saw a surge in funding rounds, with 10 companies raising $100 million or more. The AI and biotech sectors took the lead, with Lambda securing the top spot after a $320 million Series C round. Freenome raised $254 million for its biotech endeavors, while Cinq Music acquired $250 million for its music rights. The trend continued with BioAge Labs raising $170 million for obesity and metabolic diseases, and Lilac Solutions securing $170 million for lithium extraction technology. Other notable funding rounds included Latigo Biotherapeutics with $135 million, ProfoundBio with $112 million, Sierra with $110 million, Bugcrowd with $102 million, and Alys Pharmaceuticals with $100 million. While the U.S. saw a flurry of big deals, only one raise of $100 million occurred outside the country, with Netherlands-based Omnetic securing approximately $108 million.
In the biotech sector, companies like Freenome, BioAge Labs, and ProfoundBio focused on developing tests for early-stage cancers, weight-loss drugs, and antibody-drug conjugate therapeutics. On the other hand, AI companies like Lambda and Sierra raised substantial funds for cloud computing services and conversational AI technology. Overall, the week’s funding rounds showcased a variety of industries and technologies receiving significant investments.
