Mega Rounds and Late-Stage Highlights
- Atoms, Travis Kalanick's industrial robotics and AI company, raised $1.7B in a round led by Andreessen Horowitz (a16z), with Uber also participating. The company has positioned itself around using industrial AI to modernize manufacturing and logistics infrastructure.
- Revolut confirmed a fresh secondary share sale that values the London-based digital bank at a reported $115B. The sale gives employees an opportunity to liquidate a portion of their holdings, underlining how secondary markets are increasingly serving as a liquidity mechanism for late-stage private companies.
- Verda (formerly DataCrunch), a Helsinki-based AI infrastructure company, secured a 22M euro loan from the Nordic Investment Bank, backed by InvestEU. This follows a 102.5M euro equity raise earlier this year, signaling strong institutional confidence in European AI compute infrastructure.
AI and Software: Seed to Series A
- Arrakis, a London-based AI deployment startup, emerged from stealth after raising nearly $40M in just over three months, backed by leaders from OpenAI and Datadog. The company was founded by former Accel investor Rafael Quintanilla.
- Cascade raised $3.5M in a seed round led by a16z Speedrun, with participation from Ada Ventures and Snowball VC. The startup helps construction firms identify and bid on projects using AI-assisted tools.
- Ossprey, a UK software supply chain security startup, closed a $2.65M oversubscribed pre-seed round to accelerate product development and expand its engineering team.
Biotech and Life Sciences
- Brenus Pharma, a Lyon-based clinical-stage immunotherapy company focused on preventing cancer recurrence in solid tumours, raised an 11M euro extension to its Series A. Existing investors including Angelor and Credit Agricole participated, bringing total capital raised to 38M euros.
- Immitra Bio, based in Zurich, closed a 2.58M euro pre-seed round to advance its in-vivo gene editing platform. The round included both venture capital and non-dilutive funding sources.
Clean Energy and Climate Tech
- Catalyxx, a Seville-based bio-based chemicals startup, selected Sines, Portugal as the site for a 120M euro commercial-scale production facility. The project is supported by a 20M euro grant from the Circular Bio-based Europe Joint Undertaking, with the remainder drawn from private investment and public funding.
- Modo Energy, a London-based AI platform for energy storage benchmarking and asset valuation, secured a 14.9M euro growth funding package from CIBC Innovation Banking, bringing its total raised to 45.5M euros.
Africa and Emerging Markets
- M-KOPA announced it has reached 10 million customers, up from its first million six years ago. The company now onboards roughly 10,000 new customers daily as it scales its lending operations across Africa beyond its Kenyan origins.
- MTN committed $9.1M to push 5G network coverage in South Africa beyond major metropolitan areas, reflecting a broader industry shift toward rural and peri-urban connectivity.
- Fusepay, a Seychelles-based fintech that raised $350,000 in pre-seed funding in August 2025, announced an expansion of its payments platform into a broader AI operating system for trade businesses.
Editorial Perspective
Today's deals reflect a market that is bifurcating sharply. At the top end, billion-dollar raises and nine-figure valuations are increasingly reserved for companies with credible industrial or infrastructure angles, as Atoms and Verda both demonstrate. At the early stage, investors are still willing to back small seed rounds in construction tech, cybersecurity, and gene editing, but founders are being asked to show sharper commercial focus from day one. The Revolut secondary also reinforces a quiet trend: as IPO windows remain unpredictable, secondary sales are becoming a routine tool for employee liquidity at private unicorns, not an exceptional event. Across regions, the volume of African fintech milestones and European climate deals suggests that capital is not only concentrating in Silicon Valley AI plays but also flowing into infrastructure and access-driven models with longer but more durable return profiles.