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

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🌎 Americas

Factory develops an AI-based platform for computer codes to bring autonomy to software engineering, enabling firms and engineers to delegate tasks and focus on tough questions.

New Funding Raised: $150M, Series C

Round Investors: Khosla Ventures (lead), New Enterprise Associates, Blackstone Group, MANTIS Venture Capital

🚀Growth Focus: Accelerate its investment in research, product, and global go-to-market.

HQ: San Francisco, CA

Industry: Software Development

Employee Count: ~200

Slash operates an online banking platform that transfers funds between personal and business bank accounts, allowing businesses to manage their finances while maximizing cashback rewards and security.

New Funding Raised: $100M, Series C

Round Investors: Goodwater Capital (lead), Khosla Ventures (lead), Ribbit Capital (lead), Y Combinator

🚀Growth Focus: Support expansion into new industries and markets, and expand the AI banking platform.

HQ: San Francisco, CA

Industry: Financial Services

Employee Count: 70

Loop develops a logistics payments platform that automates the invoice-to-payment cycle, enabling companies to reduce costs and control working capital.

New Funding Raised: $95M, Series C

Round Investors: Valor Atreides AI Fund (lead), Valor Equity Partners (lead), Tao Capital Partners, 8VC

🚀Growth Focus: Grow its team, enhance product and engineering capabilities, and expand its platform across logistics, finance, and broader supply chain use cases.

HQ: San Francisco, CA

Industry: Software Development

Employee Count: 153

InsightFinder AI builds AI observability software that helps organizations automatically identify, diagnose, and remediate issues, allowing information technology personnel to take actions to prevent or reduce the impact of IT problems.

New Funding Raised: $15M, Series B

Round Investors: Yu Galaxy (lead)

🚀Growth Focus: Expand the team, accelerate sales and marketing initiatives, and accelerate the go-to-market strategy for its AI tools.

HQ: Raleigh, NC

Industry: Software Development

Employee Count: 25

Joyful Health operates an AI-powered financial operating system that simplifies revenue operations, allowing healthcare practitioners to automate collection processes and streamline financial operations.

New Funding Raised: $17M, Series A

Round Investors: CRV (lead), Inflect Capital, Go Global Ventures, XYZ Venture Capital

🚀Growth Focus: Expand the team, accelerate product development, and support growing enterprise demand.

HQ: New York, NY

Industry: Hospitals and Health Care

Employee Count: 30

Zenskar develops an order-to-cash platform that automates billing and revenue operations for finance teams, enabling finance professionals in software companies to streamline workflows and reduce manual effort.

New Funding Raised: $15M, Series A

Round Investors: Bessemer Venture Partners (lead), Rho Capital Partners (lead), Shine Capital (lead), Susquehanna Venture Capital (lead)

🚀Growth Focus: Expand its agentic capabilities and accelerate adoption of its zero-touch finance approach.

HQ: New York, NY

Industry: Software Development

Employee Count: 83

Ethermed develops an AI-based automation platform for prior authorization management purposes, allowing healthcare providers and insurance organizations to eliminate manual administrative paperwork, reduce treatment delays, and increase first-pass approval rates across diverse medical workflows.

New Funding Raised: $8.5M, Series A

Round Investors: Blue marlin partners (lead), Enfield Capital Partners (lead), Woodard Family Office, Gaingels

🚀Growth Focus: Expand its enterprise platform and scale its growing network of health-system partners.

HQ: Philadelphia, PA

Industry: Software Development

Employee Count: 29

Rhea Space develops astrophysics technology that supports national security objectives, enabling governments and defense forces to fulfill security objectives.

New Funding Raised: $6M, Series A

Round Investors: Purdue Research Foundation, Abo Ventures, SpaceFund, Blackbird Capital Group

🚀Growth Focus: Accelerate its growth and respond to demand for its GPS-independent navigation software from the U.S. and allied partner military/intelligence customers.

HQ: Washington, DC

Industry: Aviation and Aerospace Component Manufacturing

Employee Count: 21

GameRun’s sports management and performance analysis platform for sports teams, coaches, athletes, and sports organizations, allowing the conduct of objective performance evaluation, training planning, and feedback without manual tagging or in-person observation.

New Funding Raised: $4M, Seed

Round Investors: [Not Disclosed]

🚀Growth Focus: Accelerate the development of its proprietary technology, including investments from former professional athletes and family offices.

HQ: New York, NY

Industry: Technology, Information, and Internet

Employee Count: 31

🌍 EMEA + Australia

Renewable Metals operates an alkali recycling company that recovers critical minerals from old batteries, enabling users to manufacture new batteries that can be made from recycled materials and lower battery wastage.

New Funding Raised: A$12M, Series A

Round Investors: Clean Energy Finance Corporation (lead), Neglected Climate Opportunities, Climate Tech Partners, Investible

🚀Growth Focus: Accelerate the commercial deployment of its next-generation lithium-ion battery recycling technology.

HQ: Welshpool, Australia

Industry: Wholesale Metals and Minerals

Employee Count: 13

Lua develops software AI agent platforms that enable building and deployment of enterprise AI agents without infrastructure management, allowing enterprises and developers to access tools for creating and operating AI agents across business workflows.

New Funding Raised: $5.8M, Seed

Round Investors: Norrsken22 (lead), Kaz Nejatian, P1 Ventures, Flourish Ventures

🚀Growth Focus: Develop an operating system designed for collaboration between human teams and AI agents in the workplace.

HQ: London, England

Industry: IT System Custom Software Development

Employee Count: 22

All Things Butter operates consumer packaged dairy food products for culinary use in home and professional cooking, enabling consumers, restaurants, and specialty food retailers to source consistent dairy ingredients for cooking, baking, and recipe preparation purposes.

New Funding Raised: £3.6M, Seed

Round Investors: The Equity Studio (lead), Active Partners, Access Industries

🚀Growth Focus: Expand operations and its development efforts.

HQ: London, England

Industry: Dairy Product Manufacturing

Employee Count: 24

Beglaubigt.de provides digital notarization and company incorporation services that provide legally compliant and remote document processing, allowing entrepreneurs and businesses in Germany and abroad to create and register legal entities quickly and in a legally compliant way that is recognized across more than 120 countries via apostille.

New Funding Raised: $3.3M, Seed

Round Investors: Jawed Karim, Orange Collective, Moonfire Ventures, Zeno Partners

🚀Growth Focus: Expand its product offering in Germany, add more registration processes and ongoing bookkeeping to the platform, and support its expansion across Europe.

HQ: Munich, Germany

Industry: Legal Services

Employee Count: 22

Otel AI develops an AI-native hotel management platform that transforms hospitality operations through intelligent automation and actionable insights, enabling users to increase revenue, reduce operational costs, and enhance guest experiences with minimal manual intervention.

New Funding Raised: €2M, Seed

Round Investors: Playfair Capital (lead), Paul Forster, Nebular

🚀Growth Focus: Expand its product and engineering team, and accelerate expansion into the UK, Europe, the US, and the UAE.

HQ: Dublin, Ireland

Industry: Software Development

Employee Count: 16

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