Large Rounds and Unicorn Milestones
The headline of the day belongs to Rillet, which closed a $100M Series C led by Iconiq at a $1B valuation, earning unicorn status just two years after emerging from stealth. The AI-native accounting platform reportedly doubled its ARR in the past three months, a signal that finance teams are moving fast on AI-native tooling.
In India, Navi, the fintech founded by Sachin Bansal, raised $100M from Prosus in what the company describes as its first institutional funding round. The capital is earmarked for expanding Navi's financial services offerings across the country.
On the infrastructure side, Nebius, the Amsterdam-based AI compute and data centre provider, announced plans to raise $4.5B through a convertible bond issue to finance the growing cost of building out its compute capacity across Europe.
Growth Rounds: Enterprise AI and Frontline Tech
Several mid-stage companies raised meaningful growth capital across enterprise software and AI platforms.
- Flip (Stuttgart): raised approximately $25M (EUR 22M) to scale its AI-powered frontline worker platform, backed by existing investors Notion Capital and HV Capital, with additional support from L-Bank.
- Prevalent AI: secured $22M from Integrity Growth Partners to expand its enterprise AI platform, marking the company's first primary capital raise.
- Velatir: closed EUR 5M to accelerate AI infrastructure adoption across European markets.
Seed and Pre-Seed Rounds
Earlier-stage activity was concentrated in Europe, spanning edtech, health tech, climate, and deep tech.
- Medly AI (London): raised $8M (EUR 6.9M) in a seed round led by Felix Capital, with Eka Ventures and Ada Ventures participating, to expand its AI-powered exam prep platform.
- Aisel Health (Copenhagen): closed EUR 1.7M pre-seed led by Caesar Ventures to build an AI operating system purpose-built for psychiatric care.
- SnerpaPower (Reykjavik): secured EUR 3.4M in seed funding led by Encevo to deploy energy management software for power-intensive industries.
- Singular Photonics (Edinburgh): raised $2.15M (EUR 1.85M) in an oversubscribed round led by ACF Investors to develop SPAD image sensors with on-chip computing.
- EcoNomad Solutions (Harpenden, UK): landed EUR 466K (GBP 400K) from the British Design Fund and an Innovate UK grant to convert livestock waste into renewable energy for small farms.
- Aisel Health (Copenhagen): closed EUR 1.7M pre-seed led by Caesar Ventures, with Nordic Web Ventures, LifeX, and Angel Invest participating.
India and Emerging Market Raises
- Butterfly Learnings: raised approximately $8M (Rs 65 Cr) led by Inflexor Ventures to expand its network of autism therapy centres and commercialise an early screening tool.
- CtrlS, the Indian hyperscale data centre operator, raised Rs 250 Cr total, with Zerodha co-founder Nikhil Kamath contributing Rs 200 Cr of that amount.
- Shiprocket, the Gurugram-based ecommerce enablement company, saw Goldman Sachs acquire a stake through a bulk deal following its public listing, extending post-IPO share price gains.
Editorial Perspective
The day's activity points to a few durable themes. AI infrastructure continues to attract the largest cheques, with Nebius pursuing billions in bond financing and Velatir raising at the earliest stages for the same thesis. Enterprise AI is clearly past the proof-of-concept phase: Rillet's rapid ARR growth and Prevalent AI's growth round suggest CFOs and operations teams are now writing real contracts. Meanwhile, the cluster of small European climate and deep-tech seeds suggests that pre-seed capital in specialist hardware and sustainability is flowing steadily, even if those rounds rarely command headlines. The contrast between Nebius chasing $4.5B and EcoNomad closing EUR 466K in a single news cycle is a useful reminder of how wide the startup funding spectrum remains.