We thought the days of counting unicorns were behind us, but not so much. Plus, legal AI is hot, and looming budget cuts inspired a new biotech venture fund.
Quadricorn: Austin-based defense startup Saronic raised a $600 million Series C to build an autonomous ship factory, also quadrupling its valuation to $4 billion from its last round.
New horn: Six months after raising a $150 million Series C at a $1.25 billion post-money valuation, AI coding startup Codeium is in talks to raise a new round led by Kleiner Perkins at a $2.85 billion valuation, sources told TechCrunch.
Joining the club: Hightouch, a startup co-founded by a former engineering manager at Segment that provides AI-powered marketing tools, closed an $80 million Series C round at a $1.2 billion valuation.
Augury, whose AI-based hardware detects malfunctions in factory machines, secured $75 million in equity funding as part of a Series F round that it is still closing. CEO and founder Saar Yoskovitz said this was an up-round valuing the startup at over $1 billion.
After the billion: After raising $1 billion to date since 2015, fintech Varo closed on $29 million out of the $55 million Series G it has been hoping to raise. Its CEO and founder, Colin Walsh, also recently announced he was stepping down.
Halfway: Sanas, which leverages AI to change call center workers' accents in real time, closed a $65 million funding round, valuing the company at over $500 million.
Legal AI: AI-powered legal tech startup Luminance raised $75 million in a Series C funding round that follows several other deals closed by competitors, confirming the space is heating up.
New fund: Amid uncertainty on funding from the National Institutes of Health (NIH), Altitude Lab's Pre-seed Venture Fund will consider investing $100,000 to $250,000 in biotech startups that were qualified for Small Business Innovation Research (SBIR) grants from the NIH.
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