Most funding news was driven by either defense tech, AI, or both, but there were also some surprises. Plus, one VC firm is aiming high for its next fund.
Good intuition: Applied Intuition, a company making software for autonomous vehicles, secured a $600 million Series F and tender offer at a $15 billion valuation.
New tune: Munich-based defense tech startup Helsing closed a €600 million investment led by Prima Materia, the VC firm of Spotify's founder Daniel Ek, which valued Helsing at €12 billion.
New unicorn: Israeli observability startup Coralogix became a unicorn after raising a $115 million Series E, which it will use to double its headcount in India, where 100 of its 550 employees are currently based.
Toldja: Mach Industries, a 2-year-old defense tech startup, confirmed having raised a $100 million round of funding led by Khosla Ventures and Bedrock at a $470 million valuation.
Money flows: Aspora, a startup formerly known as Vance and focused on facilitating remittances from the Indian diaspora, closed a $50 million Series B co-led by Sequoia and Greylock at a $500 million valuation.
Change of heart: Sword Health, an AI-powered digital health startup that began as a virtual physical therapy solution, locked in $40 million at a $4 billion valuation in a funding round led by returning investor General Catalyst. It also pushed back its IPO plans to at least 2028.
Multiplier effect: Multiplier Holdings announced having raised $27.5 million across seed and Series A rounds after joining the growing trend of buying legacy service businesses — in its case, accounting firms — and scaling them with AI.
Stock where you shop: Grifin, a startup whose app helps users buy stock from brands they shop at, such as Walmart, secured $11 million in a Series A round.
Out of Sweden: Polar, a payment infrastructure platform for developers and AI-first businesses, raised a $10 million seed round led by Accel. Its CEO previously co-founded Tictail, which was acquired by Shopify in 2018.
Bullish: Global VC Endeavor Catalyst is seeking to raise $300 million for its fifth fund. This would be its largest yet, as it looks to deepen its bet on fast-growing startups in emerging markets.
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