Illustration: Lindsey Bailey/Axios
Venture Capital
• Cerebras, a Sunnyvale, Calif.-based AI chipmaker that filed for an IPO last fall, raised $1b. Tiger Global led, joined by Benchmark, AMD, Coatue, and 1789 Capital. Go deeper
• ElevenLabs, an AI audio startup, raised $500m in Series D funding at an $11b valuation. Sequoia Capital led, joined by Lightspeed, Evantic, Bond, and insiders a16z and Iconiq. Go deeper
• Resolve AI, an SF-based agentic AI startup that fixes software, raised $125m at a $1 billion valuation. Lightspeed led, joined by Greylock, Unusual Ventures, Artisanal Ventures, and A*. Go deeper
• Overland AI, a Seattle-based developer of military land robots, raised $100m. 8VC led, joined by Point72 Ventures, Ascend Venture Capital, Shasta Ventures, Overmatch Ventures, Valor Equity Partners, and StepStone Group. Go deeper
⚡️Newcleo, a French nuclear reactor and fuel developer, raised $85m from Danieli & C., Cementir Holding NV, Orion Valves, NextChem and insiders Kairos, Indaco Ventures, Azimut Investments, the CERN pension fund, and Walter Tosto. Go deeper
• TRM Labs, an SF-based blockchain intelligence firm, raised $70m in Series C funding at a $1b valuation. Blockchain Capital led, joined by CMT Digital, Goldman Sachs, Bessemer Venture Partners, DRW Venture Capital, YC, Brevan Howard Digital, Thoma Bravo, Alumni Ventures, Citi Ventures, and Galaxy Ventures. Go deeper
🚑 Chamber, a cardiology-focused tech platform for VBC models, raised $60m in Series A equity and debt funding. Frist Cressey Ventures led, joined by General Catalyst, AlleyCorp, American Family Ventures, Company Ventures, Optum Ventures, Healthworx Ventures, and Black Opal Ventures. Go deeper
💊 Third Arc Bio, a Spring House, Pa.-based biotech whose lead candidate focuses on advanced solid tumors, raised a $52m Series A extension. A16z and insider Omega Funds led, joined by Goldman Sachs Alternatives, BVF Partners, abrdn, T. Rowe Price Associates, Marshall Wace, Hillhouse Investment, Galapagos, AbbVie Ventures, and Alderline Group. Go deeper
• Adaption Labs, an adaptive intelligence startup led by Cohere and Google vets, raised $50m in seed funding led by Emergence Capital Partners. Go deeper
• EnFi, a Boston-based credit decisioning startup, raised $15m led by Fintop, with participation from Patriot Financial Partners, Commerce Ventures, Unusual Ventures, and Boston Seed Capital. Go deeper
• Nomagic, a Polish robotics fulfillment startup, raised $10m in Series B extension funding led by Cogito Capital Partners. Go deeper
🌎 Apeiron Labs, a Cambridge, Mass.-based developer of underwater robots, raised $9.5m in Series A funding from Dyne Ventures, RA Capital Management Planetary Health, and S2G Investments, Assembly Ventures, Bay Bridge Ventures, and TFX Capital. Go deeper
🌎 Evergreen Select (fka Omeat), a Thousand Oaks, Calif.-based cultivated meat producer, raised $6m from S2G Investments, Bold Capital Partners, and Good Startup. Go deeper
• Axiology, a London-based capital markets infrastructure provider, raised €5m in a seed round. Exponential Science, e2vc and Coinvest Capital led, joined by TIBAS Ventures and Plug and Play, BSV Ventures, and NGL Ventures. Go deeper
• Slashwork, a London-based corporate comms startup, raised $3.5m from Cal Henderson and Sandberg Bernthal Venture Partners. Go deeper
Private Equity
• Goldman Sachs Alternatives invested in LearnWell, a Plymouth, Mass.-based provider of academic and mental health services for students and their families. Go deeper
• Quantum Rise, backed by Erie Street Growth Partners, acquired Dhauz, a Brazilian data science and engineering firm. Go deeper
⚡️ Reliable Energy Partners, backed by Soundcore Capital Partners, acquired Irvington Gas, an Irvington, Ky.-based bulk-propane distributor. Go deeper
• Valsoft, a Montreal-based software acquisition platform backed by Coatue and Viking Global Investors, acquired KidKare, a provider of day care management and food program compliance software. Go deeper
M&A
• Bitwise Asset Management agreed to acquire Chorus One, a Swiss staking services provider with $2.2b in assets staked. Go deeper
🌎 U.K. tofu brand Tofoo agreed to acquire German plant-based meat producer Topas. Go deeper
Fundraising
• Carousel Capital raised a single-asset continuation fund for Ethos, a national provider of insurance claims investigation and medical management solutions, anchored by lead investor Dextra Partners. Go deeper
• Shore Capital Partners of Chicago raised over $400m for its second industrials PE fund. Go deeper
🌎 Slate Venture Capital, a French climate-focused firm, raised €132m in an initial close of its first growth fund, backed by European Investment Fund, Bpifrance and the Fonds National de Venture Industriel. Go deeper
• SNAK Venture Partners, a Chicago-based firm led by Pritzker Group vets Sonia Nagar and Adam Koopersmith, raised $50m for its debut fund, focused on marketplaces that digitize legacy industries. Go deeper
It's Personnel
• AE Industrial Partners promoted Jon Lusczakoski to partner, Matthew Friendly to general counsel and chief compliance officer, Tess Sprechman to managing director and IR head, Megan LeFevre to HR head, and Alyssa Goessler, Adrian Lee, Tucker Long, and Dave Paolantonio to vice presidents. www.aeroequity.com
🌎 Scott Henry was named chief corporate officer of JetZero, a Long Beach, Calif.-based developer of blended-wing aircraft. Henry was CFO of Auterion. Go deeper
Odds & Ends
🌎 Swedish VC firm Kinnevik halved the valuation of its stake in Swedish green steel maker Stegra to around $72m, citing high construction costs at the startup's production plant. Go deeper
⚡️ The U.K. government is considering subsidizing small reactors to meet surging electricity demand. Go deeper
Ryan Barwick, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Alan Neuhauser, Chris Metinko, Dan Primack, Erin Brodwin, Natalie Breymeyer and Brock E.W. Turner contributed to this report.
