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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 🎉

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Source: @overheard_sales

Daily Deals 💸

🌎 Americas

GlossGenius develops AI-powered business management software, enabling local businesses to automate scheduling, marketing, user management, payments, staffing, inventory, and administrative operations.

New Funding Raised: $44M, Series D

Round Investors: Lux Capital (lead), 2048 Ventures, Stepstone Private Wealth Solutions, L Catterton

🚀Growth Focus: Support its AI pivot from beauty booking software toward autonomous AI tools for the broader in-person service economy.

HQ: New York, NY

Industry: Software Development

Employee Count: 412

Crystalys Therapeutics operates a biopharmaceutical company that addresses the significant unmet medical needs of people living with gout, allowing healthcare providers to improve the management of hyperuricemia and gout.

New Funding Raised: $130M, Series B

Round Investors: Frazier Life Sciences (lead), Longwood Fund, Pontifax, Pivotal bioVenture Partners

🚀Growth Focus: Support the late-stage global clinical development and commercialization preparation of dotinurad, a new, once daily, oral URAT1 inhibitor.

HQ: San Diego, CA

Industry: Biotechnology Research

Employee Count: 20

Neon Commerce develops a direct-to-consumer commerce platform for mobile game developers, enabling mobile game developers to shift revenue from traditional app stores to direct-to-consumer channels to increase profit margins.

New Funding Raised: $13M, Series A

Round Investors: Krafton (lead), A16Z GAMES Speedrun, Renegade Partners

🚀Growth Focus: Expand its commerce and loyalty infrastructure across the games industry.

HQ: San Francisco, CA

Industry: Software Development

Employee Count: 41

1872 operates an AI-native steel fabrication factory that delivers automated production of complex welded steel assemblies for energy, utility, and industrial systems, allowing factories to produce finished steel components directly from CAD to completed parts.

New Funding Raised: $15M, Seed

Round Investors: The O.H.I.O. Fund (lead)

🚀Growth Focus: Expand operations and its development efforts.

HQ: Cincinnati, OH

Industry: Fabricated Metal Products

Employee Count: 14

Mach42 develops AI-powered simulation acceleration software, allowing engineering teams to automate and accelerate complex simulation and verification workflows using machine learning.

New Funding Raised: £7M, Seed

Round Investors: IP Group (lead), Business Growth Fund, Foresight Group, UK Innovation & Science Seed Fund

🚀Growth Focus: Accelerate commercialization of its AI-driven analog circuit simulation technology, positioning the semiconductor software company to capitalize on growing demand for faster chip design and verification tools.

HQ: Palo Alto, CA

Industry: Software Development

Employee Count: 20

Petra Labs’s AI search visibility management platform helps organizations monitor and improve their presence across AI-powered search engines, enabling enterprises to measure AI search performance and connect search visibility with business outcomes.

New Funding Raised: $5.2M, Seed

Round Investors: Work-Bench (lead), Pathlight Ventures, Afore Capital

🚀Growth Focus: Expand its answer engine optimization platform for enterprise brands.

HQ: New York, NY

Industry: Technology, Information and Internet

Employee Count: 14

StrongestLayer operates an integrated email security and human risk tool that protects employees from zero-day phishing attacks within the inbox and through browser isolation, allowing organizations to significantly reduce the risk of email-borne security incidents.

New Funding Raised: $4.1M, Seed

Round Investors: Inovia Capital (lead), Sorenson Capital, Alumni Ventures, LaunchPod Labs

🚀Growth Focus: Support continued investment in GTM and platform expansion.

HQ: Milpitas, CA

Industry: Computer and Network Security

Employee Count: 33

Photon Queue develops quantum memory devices that improve quantum communication and computing performance, enabling users to integrate reliable photon storage into systems without complex infrastructure requirements such as cryogenics or vacuum setups.

New Funding Raised: $4M, Seed

Round Investors: Playground Global (lead), MFV Partners, Illinois Ventures, Roadrunner Venture Studios

🚀Growth Focus: Accelerate its product development, manufacturing capabilities, and customer deployments.

HQ: Champaign, IL

Industry: Technology, Information and Internet

Employee Count: 8

Cascade develops contract matching software that helps firms discover and win public sector contracts, allowing architecture, engineering, and construction firms to streamline project discovery and bidding processes.

New Funding Raised: $3.5M, Seed

Round Investors: a16z speedrun (lead), Ada Ventures, G2C Ventures, shuckerVC

🚀Growth Focus: Expand its AI platform for architecture, engineering, and construction firms.

HQ: New York, NY

Industry: Technology, Information and Internet

Employee Count: 5

Vikk AI develops an AI-powered legal data intelligence platform that supports informed decision-making using real-world legal interactions, enabling insurers, banks, funds, and other regulated organizations to assess risk, inform products, and guide strategic decisions.

New Funding Raised: $3.5M, Seed

Round Investors: MagnaSci Ventures, Brad Jowell, Ronson J. Shamoun, Joseph Samo

🚀Growth Focus: Accelerate product development, expand its AI-powered legal platform, and scale a new category of sponsored lawyer advertising for the AI era.

HQ: Long Beach, CA

Industry: Software Development

Employee Count: 19

Estrigenix Therapeutics develops pharmaceutical therapeutics for women's health, allowing healthcare providers to offer treatments for hot flashes and memory loss without the risks of breast cancer or stroke.

New Funding Raised: $2M, Seed

Round Investors: Talents Fund (lead)

🚀Growth Focus: Support lead optimization and completion of its translational preclinical package, positioning its lead programs for IND-enabling studies and future clinical development.

HQ: Milwaukee, WI

Industry: Pharmaceutical Manufacturing

Employee Count: 5

🌍 EMEA

Greenjets develops electric jet engines that support the shift toward environmentally conscious air transport, enabling drone and air taxi manufacturers to minimize sound levels, enhance operational safety, and ease regulatory compliance.

New Funding Raised: £30M, Series A

Round Investors: Blossom Capital (lead), NATO Innovation Fund, National Security Strategic Investment Fund, Tanglin Venture Partners

🚀Growth Focus: Accelerate its transition from development to production, supporting the delivery of thousands of systems over the next 12 months.

HQ: London, England

Industry: Aviation and Aerospace Component Manufacturing

Employee Count: 102

Arrakis Technologies operates an AI deployment platform that helps enterprises transition from experimentation to production, enabling regulated industries to automate workflows with AI-driven processes for improved efficiency and cycle times.

New Funding Raised: $30M, Series A

Round Investors: Blossom Capital (lead), Rerail, Olivier Pomel, Accel

🚀Growth Focus: Support international expansion, platform development, and workforce growth.

HQ: London, England

Industry: Technology, Information and Internet

Employee Count: 11

Karoo Health operates a technology-enabled cardiology care management platform, enabling healthcare providers and payers to improve cardiac patient outcomes, coordinate care, and reduce the total cost of care.

New Funding Raised: $16.2M, Series A

Round Investors: 7wire Ventures (lead), Allumia Ventures (lead), HPA (Hyde Park Angels), SpringRock Ventures

🚀Growth Focus: Expand its AI-native technology platform for cardiovascular care.

HQ: Oxford, England

Industry: Health and Human Services

Employee Count: 44

Yope develops a social platform that connects users online with no algorithm, no ads, and no public content, enabling users to build meaningful social interactions online.

New Funding Raised: $12.3M, Seed

Round Investors: Northzone (lead), Geek Ventures, RedSeed Ventures, Inovo.vc

🚀Growth Focus: Develop the product, expand its 35-person team, and open a US office.

HQ: London, England

Industry: Mobile Computing Software Products

Employee Count: 35

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