💰The Funding Letter #1719: July 23

Reka AI, xLight, Delve, and more...

July 23, 2025

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

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Source: @overheard_sales

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🌎 Americas

Avalyn Pharma operates a clinical-stage biopharmaceutical company for the treatment of idiopathic pulmonary fibrosis and severe respiratory diseases, enabling medical professionals to reduce risks associated with oral treatments and likely improving efficacy. View on: LinkedIn.com | Sales Navigator.

New Funding Raised: $100M, Series D

Round Investors: SR One (lead), Suvretta Capital Management (lead), Piper Heartland Healthcare Capital, Hamilton Square Partners Management

🚀Growth Focus: Advance its inhaled versions of approved lung disease meds.

HQ: Cambridge, MA

Industry: Biotechnology Research

Employee Count: 49 (⚡17% increase in last 6 months)

Phlow provides low-cost pharmaceuticals and reduce dependency on foreign supply chains, allowing practitioners to provide essential medicines to their patients. View on: LinkedIn.com | Sales Navigator.

New Funding Raised: $37M, Series C

Round Investors: Align Private Capital (lead)

🚀 Growth Focus: Accelerate its expansion across U.S.-based development, manufacturing, and digital infrastructure, with a focus on scaling technology-driven innovation, including AI-powered systems and new pharmaceutical manufacturing technologies.

HQ: Richmond, VA

Industry: Pharmaceutical Manufacturing

Employee Count: 106 (⚡20% increase in last 6 months)

Reka AI develops multimodal large language models to create enterprise-grade production models from their foundation, enabling businesses to use AI to automate tasks, generate creative text formats of text content, and translate languages, all through an intuitive and user-friendly interface. View on: LinkedIn.com | Sales Navigator.

New Funding Raised: $110M, Series B

Round Investors: NVIDIA (lead), Snowflake (lead)

🚀Growth Focus: Accelerate technical development on its models and scale its multimodal platforms, aiming for wider enterprise adoption and expansion of its global reach.

HQ: Sunnyvale, CA

Industry: Technology, Information, and Internet

Employee Count: 57 (⚡14% increase in last 6 months)

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