Biotech and AI had another strong showing this week, with two sectors securing major funding rounds, including a substantial $370 million for biotech. Here's a breakdown of the week's top funding achievements:
Candid Therapeutics, $370M, Biotech
San Diego-based Candid Therapeutics launched impressively with a $370 million raise. This funding was co-led by Fairmount Funds Management, TCG Crossover, venBio Partners, and Venrock Healthcare Capital Partners. Candid is focused on developing T-cell engager antibodies aimed at treating inflammatory diseases.
Glean, $260M, Artificial Intelligence
Just months after a successful Series D, Glean raised over $260 million in a Series E funding round. This Palo Alto startup, known for its AI-enhanced work assistant and enterprise search capabilities, is now valued at $4.6 billion. Co-led by Altimeter Capital and DST Global, Glean was founded by ex-Google engineers and has reached unicorn status thanks to its generative AI search tool that integrates with enterprise applications.
World Labs, $230M, Artificial Intelligence
World Labs launched with more than $230 million in its coffers, backed by Andreessen Horowitz, NEA, and Radical Ventures. The Stanford-based startup, co-founded by AI pioneer Fei-Fei Li, is tackling spatial intelligence AI for perceiving and interacting with the 3D world.
Superluminal Medicines, $120M, Biotech
Boston's Superluminal Medicines combined AI with biotech to secure a $120 million Series A led by RA Capital Management. The startup uses advanced technologies like machine learning and generative biology to create ready-to-use compounds.
Forterra, $75M, Autonomous Vehicles
Forterra, a self-driving tech company, closed a $75 million Series B. The company specializes in autonomous systems for industrial and defense applications, representing its first disclosed funding round.
Second Front Systems, $70M, Defense
Second Front Systems, a defense tech startup, secured $70 million in Series C funding. Based in Wilmington, Delaware, this firm is expanding its tech solutions for the defense sector.
Inflammatix, $57M, Biotech
Inflammatix, a diagnostics company, raised $57 million to advance its molecular diagnostics capabilities. The Sunnyvale-based firm has already collected over $200 million in funding.
Strider Technologies, $55M, Productivity Tools
Salt Lake City’s Strider Technologies acquired $55 million in Series C funding to enhance its AI-driven intelligence platform and expand its global reach.
CSA Medical, $53M, Medical Device
CSA Medical secured $53 million to further its development of medical devices for treating chronic bronchitis.
Finally, $50M, Fintech & Others
- Finally, a Miami fintech startup, raised $50 million for automating financial processes.
- SpectraWave, a healthcare imaging company, acquired $50 million for its tech development.
- Tune.FM, a decentralized music platform, obtained $50 million to enhance its streaming services.
Global Insights
Outside the U.S., Belgium's PanTera led with a $103 million round to advance personalized cancer treatments and radiopharmaceuticals.
Methodology
This analysis tracks major funding rounds from Sep. 7 to Sep. 13, sourced from Crunchbase. While most rounds are promptly reported, slight delays may occur.
