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Good Morning! This free edition of The Funding Letter comes to you from our headquarters in New York City. 🔥New Sales Gigs from Corgi Insurance, Mecka, Cyera, & Gradient Labs below!

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🌎 Americas

Ramp develops a spend-management platform that streamlines business, improves efficiency, and builds healthier enterprises, enabling businesses to modernise operations, enhance efficiency, and build stronger companies.

New Funding Raised: $750M, Series F

Round Investors: GIC (lead), ICONIQ Capital (lead), Ontario Teachers' Pension Plan (lead), 8VC

🚀Growth Focus: Expand its focus to help companies control growing AI-related business costs.

HQ: New York, NY

Industry: Financial Services

Employee Count: 2468

City Therapeutics operates a biotechnology company that develops innovative, precise, and effective treatments for a wide range of diseases, allowing healthcare professionals to offer more targeted and more effective treatment options for their patients, especially in disease areas with limited treatment.

New Funding Raised: $99.5M, Series B

Round Investors: Sofinnova Investments (lead), Viking Global Investors (lead), Invus, NYBC Ventures

🚀Growth Focus: Advance its pipeline of RNAi therapeutics, accelerate its next-generation RNAi engineering platform, and support business development activities.

HQ: Cambridge, MA

Industry: Biotechnology Research

Employee Count: 77

PointFive’s actionable cloud cost efficiency platform eliminates cloud waste and improves its cloud operations, enabling engineers to enhance efficiencies and workflows.

New Funding Raised: $60M, Series B

Round Investors: Accel (lead), Salesforce Ventures, Amiram Shachar, Vesey Ventures

🚀Growth Focus: Expand its AI and cloud cost management platform.

HQ: New York, NY

Industry: Software Development

Employee Count: 129

Flourish develops brain-inspired AI models that dramatically reduce the energy consumption of AI computing, allowing the development of significantly more power-efficient AI systems that move beyond large language model architectures.

New Funding Raised: $500M, Series A

Round Investors: Google Ventures, Catalio Capital Management, Jeff Bezos, Lux Capital

🚀Growth Focus: Support to build AI that runs on the same energy budget as the human brain.

HQ: New York, NY

Industry: Technology, Information, and Internet

Employee Count: 3

EDGE Markets develops a financial technology platform for gaming and betting, enabling users to manage gaming funds through a dedicated debit card with spending controls, instant fund access, and rewards across sportsbooks, iGaming platforms, and casinos.

New Funding Raised: $29.2M, Series A

Round Investors: CoinFund (lead), StepStone Group, Indicator Ventures, MANTIS Venture Capital

🚀Growth Focus: Support the launch of EDGE Pro, a dedicated banking platform for market makers trading on prediction markets, and EDGE Connect, the first purpose-built payment rail for gaming and prediction markets

HQ: New York, NY

Industry: Financial Services

Employee Count: 31

Upriver AI develops an API-based marketing intelligence platform that turns cross-platform online activity into real-time, language model-ready context, allowing developers and marketing teams to plug evidence-backed insight on brands, products, creators, audiences, trends, and sponsorships directly into AI advertising workflows for content generation, discovery, and targeting.

New Funding Raised: $14M, Seed

Round Investors: Valley Capital Partners (lead), Hetz Ventures

🚀Growth Focus: Accelerate product development, expand its workforce, and support growing demand from enterprises seeking to build reliable data foundations for AI initiatives.

HQ: San Francisco, CA

Industry: Technology, Information, and Internet

Employee Count: 3

Goldenrod Therapeutics develops next-generation small-molecule therapeutics that address serious neurological conditions, enabling patients with significant unmet medical needs to access broader and more effective treatment options.

New Funding Raised: $6.5M, Seed

Round Investors: Ataxia Ventures (lead), Fannin Innovation Studio (lead)

🚀Growth Focus: Support to extend its manufacturing, formulation optimization, and IND-enabling studies, along with funding a Phase I study in its beachhead therapeutic indication in Friedreich’s Ataxia, a rare and progressive neurodegenerative disease.

HQ: Houston, TX

Industry: Biotechnology Research

Employee Count: 4

🌍 EMEA

ICEYE develops radar-satellite-based Earth-observation systems that provide persistent monitoring capabilities for operational, analytical, and disaster-related purposes, allowing defense, government, insurance, and energy sectors to get access to SAR data, anywhere on the globe at any time.

New Funding Raised: €450M, Series F

Round Investors: General Atlantic (lead), Qatar Investment Authority, TCV, Nokia

🚀Growth Focus: Drive the expansion of its global footprint and deepen its intelligence capabilities, positioning the company to meet growing demand and deliver sovereign intelligence systems and data to governments and customers at a new scale.

HQ: Espoo, Finland

Industry: Defense and Space Manufacturing

Employee Count: 982

PhysicsX develops machine learning applications that accelerate physics simulations in physical design and engineering, enabling users to improve their designs by reducing emissions from aircraft and road vehicles or increasing the performance of renewable energy turbines.

New Funding Raised: $300M, Series C

Round Investors: Temasek Holdings (lead), M&G Investments, Applied Materials, July Fund

🚀Growth Focus: Accelerate its global growth, expand its platform capabilities, and advance frontier research, including the development of new pre-trained physics AI models, known as Large Physics Models.

HQ: London, England

Industry: Software Development

Employee Count: 281

Fuse Energy operates a commission-free electricity company that offers distributed energy resource installation, energy trading, and electricity retail services, allowing consumers to make eco-conscious choices and contribute to a more sustainable future for the electricity grid.

New Funding Raised: $30M, Series B

Round Investors: Collaborative Fund, The Twenty Minute VC, Balderton Capital, Lowercarbon Capital

🚀Growth Focus: Support funding a new 32,000 sq ft London headquarters as it scales operations.

HQ: London, England

Industry: Technology, Information, and Internet

Employee Count: 343

NewOrbit Space manufactures satellites that provide enhanced telecommunication capabilities and image resolutions, enabling users in the telecommunication and imaging industries to reduce mission costs and enhance performance.

New Funding Raised: $18.5M, Series A

Round Investors: Voyager Ventures (lead), Offline Ventures, Lawrence Leuschner, Custos Family Office

🚀Growth Focus: Further enhance the construction of its NEO Production Complex, scheduled to open in 2027.

HQ: Caversham, England

Industry: Defense and Space Manufacturing

Employee Count: 30

Finovox develops false document detection software for detecting fraud, allowing users to take corrective action relating to fraud and eliminate falsified elements.

New Funding Raised: €8.2M, Series A

Round Investors: TX Ventures (lead), Auriga Cyber Ventures, Inter Mutuelles Assistance, Force Over Mass Capital

🚀Growth Focus: Accelerate its ambitious plan to become the European standard for document verification, fueling its international expansion and technological development.

HQ: Bosdarros, France

Industry: Software Development

Employee Count: 55

GALVANY develops a climate technology platform that makes home decarbonization affordable, scalable, and accessible, enabling homeowners and residential property owners to access affordable and clean energy.

New Funding Raised: €10M, Seed

Round Investors: AENU (lead), SET Ventures (lead)

🚀Growth Focus: Further expand its end-to-end platform for the installation, operation, and optimisation of heat pumps in Germany, with particular emphasis on the existing-building market for multi-family homes.

HQ: Berlin, Germany

Industry: Services for Renewable Energy

Employee Count: 66

Companion.energy operates an energy management platform that supports companies in transitioning to net-zero energy, allowing companies to navigate the energy transition proactively.

New Funding Raised: €7.8M, Seed

Round Investors: Realyze Ventures (lead), Asterion Ventures, Pi Labs

🚀Growth Focus: Enhance and expand its platform, enabling large industrial and commercial enterprises to manage energy as renewable penetration and industrial electrification advance.

HQ: Ghent, Belgium

Industry: Software Development

Employee Count: 20

Kodesage develops an AI-powered platform that modernizes and documents legacy systems, enabling enterprises to maintain compliance and enhance team efficiency.

New Funding Raised: $6.6M, Seed

Round Investors: VentureFriends (lead), Christian Szegedy, Mario Götze, Portfolion

🚀Growth Focus: Expand its go-to-market efforts across the United States and Europe, while also strengthening its engineering and product teams to advance its long-term goal of building self-healing enterprise software systems.

HQ: Budapest, Hungary 

Industry: Software Development

Employee Count: 25

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