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

Hit the Gong 🎉

Source: @sales_humor

Daily Deals 💸

🌎 Americas

Quadric develops a semiconductor intellectual property platform that integrates AI inference and general-purpose computing into a unified processor architecture, enabling semiconductor manufacturers to develop automotive, industrial, robotics, AI PC, and edge AI chips with simplified software development.

New Funding Raised: $46M, Series C

Round Investors: International Finance Corporation (lead), Offline Ventures, Pear VC, Uncork Capital

🚀Growth Focus: Expand its support and go-to-market teams for existing customers in automotive, AI PCs, and enterprise, and incoming customers in humanoid robotics, wearables, and networking.

HQ: Burlingame, CA

Industry: Semiconductor Manufacturing

Employee Count: 73

Databento operates a colocation platform that provides simpler and faster access to historical data to receive market data, allowing businesses and financial institutions to access high-fidelity data capture directly from the source, save storage costs, and avoid low-latency.

New Funding Raised: $97M, Series B

Round Investors: New Enterprise Associates (lead), Redpoint, DRW Venture Capital, Tribe Capital

🚀Growth Focus: Broaden its coverage across asset classes and geographies while continuing to scale the infrastructure that sets it apart.

HQ: Salt Lake City, UT

Industry: Financial Services

Employee Count: 40

Ollama provides a local inference platform for businesses to run large language models, enabling developers and enterprises to build, deploy, and operate AI applications with flexibility.

New Funding Raised: $65M, Series B

Round Investors: Theory Ventures (lead), Benchmark, Aaron Katz, Y Combinator

🚀Growth Focus: Support for investing in its product and open-source developer community, scaling its cloud compute footprint, and bringing on key hires.

HQ: Palo Alto, CA

Industry: Technology, Information and Internet

Employee Count: 64

Skapion manufactures a mobile counter-swarm defense system for large-scale drone attacks, providing government and defense organizations with a scalable system to protect critical infrastructure in contested environments.

New Funding Raised: $36M, Seed

Round Investors: Khosla Ventures (lead), UP Partners (lead), TBD VC, Fusion

🚀Growth Focus: Support the development of next-generation defense systems.

HQ: Washington, DC

Industry: Defense and Space Manufacturing

Employee Count: 11

Guthrie AI develops an AI-based software platform that organizes and manages request-for-proposal and bidding processes, allowing businesses to manage bidding workflows and prepare proposals for project opportunities.

New Funding Raised: $4M, Seed

Round Investors: Chicago Ventures (lead), Flybridge

🚀Growth Focus: Expand its engineering team and deepen integrations with tools estimators already use, including Bluebeam, Outlook, and Excel.

HQ: Philadelphia, PA

Industry: Construction

Employee Count: 54

🌍 EMEA

Helsing develops AI-driven autonomous systems and defense hardware for protecting democratic nations, enabling allied militaries and defense industries to achieve coordinated, adaptive, and governed battlefield awareness and precision engagement across all operational domains.

New Funding Raised: $1.8B, Series E

Round Investors: ICONIQ Capital, The Stepstone Group, CPP Investments, Lightspeed Venture Partners

🚀Growth Focus: Support the development of new AI platforms.

HQ: Munich, Germany

Industry: Software Development

Employee Count: 822

Kraken Technology Group develops advanced maritime platforms and autonomous systems, allowing defense and commercial operators to deploy high-performance composite vessels with scalable manufacturing and integrated powertrain technologies.

New Funding Raised: £130M, Series B

Round Investors: DTCP (lead), SmartCap, HICO, Inocea

🚀Growth Focus: Accelerate its rapid capability development and international manufacturing expansion.

HQ: London, England

Industry: Shipbuilding

Employee Count: 125

Draig Therapeutics’s biotechnology platform delivers effective treatments for neuropsychiatric disorders, enabling patients with inhibitory neurotransmission issues to get treated effectively.

New Funding Raised: $65M, Series B

Round Investors: Deep Track Capital (lead), British Business Bank, Janus Henderson Investors, Marshall Wace

🚀Growth Focus: Support accelerated clinical development of its pipeline of highly specific AMPA and GABAA receptor modulators.

HQ: Cardiff, Wales

Industry: Biotechnology Research

Employee Count: 42

Reformed operates a beverage company that provides health and wellness benefits through its coffee, allowing customers to experience a more holistic approach to wellness through their beverage choices.

New Funding Raised: $22M, Series A

Round Investors: Iris Ventures (lead)

🚀Growth Focus: Accelerate its strategic hiring pipelines, fund new product development within its core beverage lines, and expand its cross-channel physical retail distribution.

HQ: London, England

Industry: Food and Beverage Services

Employee Count: 14

Kintai develops a merchant cash advance platform that helps businesses with loans tailored to their financial needs, enabling users to finance their projects for payroll payments, purchase of materials, repairs, or paying taxes.

New Funding Raised: €10M, Series A

Round Investors: Barlon Capital (lead), ICF Capital (lead), Prosegur (lead), TQ Eurocredit

🚀Growth Focus: Accelerate its growth through commercial expansion across Spain, the development of new product capabilities, and the recruitment of talent in strategic areas.

HQ: Barcelona, Spain

Industry: Financial Services

Employee Count: 49

Aria develops financial software that helps businesses own their payment terms and grow their financial process, allowing users to pay instantly and maintain cash flows while they grow.

New Funding Raised: €7M, Series A

Round Investors: 115K (lead), 13books Capital

🚀 Growth Focus: Expand its financing capacity and combat the late-payment crisis affecting businesses across Europe.

HQ: Paris, France

Industry: Financial Services

Employee Count: 96

ZML operates an AI inference stack that enables consistent deployment across diverse hardware platforms, enabling developers to achieve low-latency, efficient inference with minimal overhead and no vendor lock-in.

New Funding Raised: $20M, Seed

Round Investors: Drysdale Ventures, Kindred Capital, AAL VC, Kima Ventures

🚀Growth Focus: Build a chip-agnostic inference server to speed inference across lots of AI chips.

HQ: Paris, France

Industry: Software Development

Employee Count: 20

Bold Games develops and operates mobile gaming experiences for casual players, allowing the global mobile gaming market to access immersive, accessible, and aesthetically refined entertainment experiences.

New Funding Raised: $6M, Seed

Round Investors: Arcadia Gaming Partners (lead), e2vc (lead), Makers Fund (lead), Jameel Investment Management Company

🚀Growth Focus: Develop and expand its puzzle game Market Match, its first title in the sorting and matching game category.

HQ: Istanbul, Turkey

Industry: Mobile Gaming Apps

Employee Count: 10

Optiflux provides post-harvest inventory management services that store fruits and vegetables after harvest, enabling fruit growers and cooperatives to prevent their perishable food items from decaying.

New Funding Raised: €2.5M, Seed

Round Investors: Agri Investment Fund (lead), LAVA, Limburgse Reconversie Maatschappij, Gemma Frisius Fund

🚀Growth Focus: Support to secure its local roots and technology while supporting the continued development of its AI and software platform, along with its expansion into international markets.

HQ: Houthalen, Belgium

Industry: Food and Beverage Services

Employee Count: 10 

Investre builds digital infrastructure that facilitates the issuance, safekeeping, distribution, and settlement of tokenized investment funds, allowing asset managers and investment fund providers to tokenize and manage investment funds with reduced reliance on traditional intermediaries and enhanced operational efficiency.

New Funding Raised: €2.4M, Seed

Round Investors: Kneip Management SA

🚀Growth Focus: Accelerate the rollout of its fund tokenisation infrastructure, as demand shifts from pilot projects to production across Europe's investment fund industry.

HQ: Luxembourg, Luxembourg

Industry: Financial Services

Employee Count: 10

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