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Good Morning! This free edition of The Funding Letter comes to you from our headquarters in New York City.

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🌎 Americas

Ayar Labs develops optical interconnect technology that accelerates data movement in computing systems, enabling data center and AI infrastructure operators to handle large-scale workloads and overcome traditional communication bottlenecks.

New Funding Raised: $500M, Series E

Round Investors: Neuberger Berman (lead), Qatar Investment Authority, Sequoia Capital, MediaTek

🚀Growth Focus: Scale high-volume production and test capacity to accelerate the deployment of its CPO solution.

HQ: San Jose, CA

Industry: Computer Hardware Manufacturing

Employee Count: 211

Grow Therapy’s mental healthcare platform connects individuals with licensed therapists and psychiatric providers, allowing patients to access therapy services and clinicians to manage practice operations.

New Funding Raised: $150M, Series D

Round Investors: Goldman Sachs Alternatives (lead), TCV (lead), BCI, Menlo Ventures

🚀Growth Focus: Expand partnerships with health plans, employers, and health systems, and invest in clinically guided technology to improve outcomes and expand access to care.

HQ: New York, NY

Industry: Mental Health Care

Employee Count: 2795 (looks like closer to the 200-300 range for direct ee’s; this LI number might include therapists in its network)

DeepIP develops a patent assistant platform that offers AI-based tools for IP-related tasks, enabling patent attorneys and agents to write better patents faster and get more done.

New Funding Raised: $25M, Series B

Round Investors: Korelya Capital (lead), Serena (lead), Balderton Capital, Headline

🚀Growth Focus: Expand AI-powered patent workflow platform across the U.S. and Europe.

HQ: Brooklyn, NY

Industry: Software Development

Employee Count: 62

Fig Security develops a cybersecurity infrastructure system for the continuous identification and remediation of fragmented security workflows, allowing enterprise security teams to maintain operational stability and prevent the loss of critical visibility during active cybersecurity incidents.

New Funding Raised: $30M, Series A

Round Investors: Ten Eleven Ventures (lead), René Bonvanie, Team8, Douglas Merritt

🚀Growth Focus: Support product development, team expansion, and go-to-market efforts, particularly in North America.

HQ: New York, NY

Industry: Computer and Network Security

Employee Count: 9

KeyCare operates an Epic-based virtual care platform that expands access to coordinated telehealth services within existing health system infrastructure, enabling health systems to extend patient access while maintaining continuity of care.

New Funding Raised: $27.4M, Series A

Round Investors: HealthX Ventures (lead), Allina Health, Exact Sciences, Bold Capital Partners

🚀Growth Focus: Deepen its investment in AI-enabled technology, expand operational capacity to meet growing demand from health system partners, and continue enhance its platform to improve patient experience.

HQ: Chicago, IL

Industry: Hospitals and Health Care

Employee Count: 60

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EGI Battery develops energy storage battery technologies and services for renewable energy and smart power applications, allowing users to generate more power.

New Funding Raised: $10M, Seed

Round Investors: TSVC (lead)

🚀Growth Focus: Accelerate its manufacturing capabilities, commercial expansion, and continued development of batteries for aerospace, uncrewed aerial systems, robotics, and critical infrastructure applications.

HQ: Ann Arbor, MI

Industry: Energy Technology

Employee Count: 12

14.ai builds an AI software that enhances the user support system for business enterprises, enabling users to enhance business operations.

New Funding Raised: $3M, Seed

Round Investors: Y Combinator (lead), General Catalyst, SV Angel, basecase capital

🚀Growth Focus: Expand its headcount by hiring more AI engineers further automate workflows.

HQ: San Francisco, CA

Industry: Technology, Information, and Internet

Employee Count: 10

🌍 EMEA + Australia

Oxa develops an AI-based autonomous vehicle journey platform that operates, accelerates, and scales deployment for fleets of autonomous vehicles, allowing users with specific positioning to detect and predict the movement of vehicles better.

New Funding Raised: $103M, Series D

Round Investors: National Wealth Fund (lead), Hostplus, IP Group, BP Ventures

🚀Growth Focus: Support to scale up autonomous ‌vehicle operations focused on ports, airports, warehouses, and ‌other industrial applications.

HQ: Oxford, England

Industry: Software Development

Employee Count: 407

Lyka Pet Food operates an online tailored pet food subscription platform that offers a homemade diet for pets, enabling dog parents to feed their dogs protein-rich meals with the ideal balance of nutrients like calcium and phosphorus for strong and healthy bones.

New Funding Raised: $67M, Series C

Round Investors: LGVP (lead)

🚀Growth Focus: Support global expansion and clinical research into dog health and longevity.

HQ: Sydney, Australia

Industry: Consumer Services

Employee Count: 264

Antiverse develops a drug discovery platform that predicts antibody-antigen binding and provides antibody drug candidates against difficult targets, allowing pharma companies and contract research organizations to speed up antibody hit discovery.

New Funding Raised: $9.3M, Series A

Round Investors: Soulmates Ventures (lead), Kadmos Capital, DOMiNO Ventures, i&i Biotech Fund

🚀Growth Focus: Support expansion of its proprietary AI antibody design platform, accelerate development of its internal therapeutic pipeline, and advance lead antibody programs toward in vivo efficacy studies, while continuing to expand pharmaceutical and research collaborations.

HQ: Cardiff, Wales

Industry: Biotechnology Research

Employee Count: 28

baCta manufactures biosynthetic natural rubber for sustainable raw materials, enabling industries reliant on rubber to achieve decarbonization and access resilient, hypoallergenic materials.

New Funding Raised: €7M, Seed

Round Investors: Daphni (lead), LocalGlobe (lead), OVNI Capital, Fabien Koutchekian

🚀Growth Focus: Advance its approach to producing industrial ingredients using engineered microorganisms.

HQ: Paris, France

Industry: Biotechnology Research

Employee Count: 16

Vento Games develops engaging mobile puzzle games, allowing players of all ages to enjoy high-quality, mentally stimulating entertainment experiences.

New Funding Raised: $4M, Seed

Round Investors: Arcadia Gaming Partners (lead), Makers Fund (lead)

🚀Growth Focus: Accelerate its mission to grow its portfolio of charming, brain-building mobile puzzle games.

HQ: Istanbul, Turkey

Industry: Computer Games

Employee Count: 9

Tangled’s git collaboration platform builds a decentralized infrastructure for collaborating, managing identities, and publishing code, enabling open-source communities and developers with ownership, resilience, and collaboration without the need for centralized infrastructure.

New Funding Raised: €3.8M, Seed

Round Investors: byFounders (lead), Marten Mickos, Antler, Sami Honkonen

🚀Growth Focus: Scale its engineering team, expand its global infrastructure, and accelerate the development of its 2026 roadmap, which includes a revamped CI system, a dedicated CLI, and migration tools for users moving off GitHub.

HQ: Helsinki, Finland

Industry: Technology, Information, and Internet

Employee Count: 2

Bindbridge develops an AI-based molecular discovery platform that identifies molecular glues for agriculture, allowing agrochemical companies to develop safer and more effective agricultural products through collaborative research and licensing partnerships.

New Funding Raised: $3.8M, Seed

Round Investors: Nucleus Capital (lead), Speedinvest (lead)

🚀Growth Focus: Accelerate discovery of safer agrochemicals and improve crop resilience while reducing development time and complexity for the agricultural sector.

HQ: London, England

Industry: Agricultural Chemical Manufacturing

Employee Count: 7

Payr develops a payment platform that pays rent with credit or debit cards and earns rewards, enabling users to choose from a diverse range of payment methods and earn points on monthly expenses.

New Funding Raised: $2.1M, Seed

Round Investors: Ingenii Capital (lead), British Business Bank, Haatch, Velocity Capital Advisors

🚀Growth Focus: Expand integrations, deepen product infrastructure, and accelerate distribution partnerships across the residential sector.

HQ: London, England

Industry: Financial Services

Employee Count: 9

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