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This is a weekly feature that runs down the week’s top 10 announced funding rounds in the U.S. Check out last week’s biggest funding deal roundup here.
This week, most of the largest U.S. startup funding rounds centered around the sector one would suspect: artificial intelligence. This was true for the week’s largest venture financing, a $1.5 billion Series F for AI inference technology provider Baseten, as well as a majority of rounds in the Top 10. Beyond that, the next-biggest area for startup funding was biotech.
1. Baseten, $1.5B, AI inference technology: Baseten, a provider of systems software to run AI applications workloads, raised $1.5 billion in Series F funding, its fourth fundraise in 18 months. Altimeter Capital, Conviction Partners, Spark Capital, Sands Capital and Wellington Management co-led the round, which set a $13 billion valuation for the San Francisco-based company.
2. AppsFlyer, $1B, digital marketing: AppsFlyer, a San Francisco-based provider of data analytics with digital marketing as a core use case, reportedly secured more than $1 billion in a Series E funding round at a post-money valuation of $2.7 billion. Backers reportedly include Unity, Meta, Moloco and Google.
3. Groq, $650M, AI inference technology: San Francisco-based Groq closed on $650 million in new funding led by Infinitum and Disruptive that it says will be used to scale its AI inference cloud technology and infrastructure. The investment comes just over six months after an acquihire-type transaction in which Nvidia hired away its founder and key team members and licensed its technology.
4. Ollin Biosciences, $330M, ophthalmic therapies: Ollin Biosciences, a developer of therapies for vision-threatening diseases, picked up $330 million in Series B funding. TCG Crossover and Arch Venture Partners led the financing for the Austin-based company.
5. General Intuition, $320M, foundational AI: General Intuition, developer of a foundational AI model based on gameplay, secured $320 million in Series A funding at a $2.3 billion valuation. Khosla Ventures led the financing for the New York-based company, while backers including Jeff Bezos and General Catalyst participated.
6. Peregrine Technologies, $250M, government software: Peregrine Technologies, provider of a platform used by public safety agencies and other government entities, secured $250 million in Series D financing. Fifth Down Capital, Sequoia Capital, O.G. Venture Partners, Goldcrest Capital, XYZ Ventures and Godfrey Capital led the financing, which set a $6.8 billion valuation for the San Francisco-based company.
7. (tied) Quantifind, $200M, risk intelligence: Palo Alto, California-based Quantifind, developer of a risk intelligence platform for financial crime detection and national security operations, closed on $200 million in growth financing led by Summit Partners.
7. (tied) Mirendil, $200M, foundational AI: San Francisco-based Mirendil, a frontier lab building systems that excel at AI R&D, says it raised a seed round of $200 million led by Andreessen Horowitz and Kleiner Perkins. The startup also counts Nvidia as a backer.
9. (tied) Upscale AI, $190M, AI infrastructure: AI networking infrastructure startup Upscale AI raised $190 million in Series A extension funding, bringing total financing to $500 million. Premji Invest led the round, which set a $2 billion valuation for the Santa Clara, California-based company.
9. (tied) Osanni Bio, $190M, biotech: San Francisco-based Osanni Bio, a therapeutics platform focused on ophthalmic therapies and other treatments, secured $190 million in Series B funding led by Patient Square Capital.
Large non-US deals:
The week also brought some large European rounds:
Stark, $569M, defense tech: Berlin-based defense tech startup Stark reportedly raised $569 million in a financing led by Founders Fund and Sequoia Capital.
Alan, $546M, insurance: Paris-based health insurance startup Alan secured $460 million in new investment in primary and secondary equity led by Prosus.
Methodology
We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of June 18-26. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.
Illustration: Dom Guzman
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Facts Only
* Baseten raised $1.5 billion in Series F funding for AI inference technology.
* AppsFlyer reportedly secured more than $1 billion in a Series E funding round at a $2.7 billion post-money valuation.
* Groq closed on $650 million in new funding led by Infinitum and Disruptive for AI inference cloud technology.
* Ollin Biosciences picked up $330 million in Series B funding.
* General Intuition secured $320 million in Series A funding at a $2.3 billion valuation.
* Peregrine Technologies secured $250 million in Series D financing for government software.
* Quantifind closed on $200 million in growth financing.
* Mirendil raised a seed round of $200 million.
* Osanni Bio secured $190 million in Series B funding.
* Upscale AI raised $190 million in Series A extension funding.
* Stark reportedly raised $569 million in a financing led by Founders Fund and Sequoia Capital.
* Alan secured $460 million in new investment in primary and secondary equity.
Executive Summary
Full Take
The narrative of the funding data is defined by concentrated investment in high-growth technological sectors, specifically AI and deep science. The most salient pattern is the massive aggregation of capital into foundational technologies (AI inference, infrastructure) and specialized areas (ophthalmic therapies, risk intelligence). This suggests a strong external validation for technologies that promise exponential scaling, regardless of current market maturity or immediate profitability.
The emphasis on AI—evidenced by large rounds for Baseten, Groq, and General Intuition—sets the dominant paradigm. This focus functions as a potent attractor for investment, suggesting that capital flows are not merely reacting to existing metrics but are actively shaping perceived value in these areas. The juxtaposition of U.S. tech deals with large European defense and insurance deals highlights a global distribution of risk and opportunity, where funding is driven by market demand across diverse industrial needs.
The lack of explicit discussion on the economic environment—macro interest rates, regulatory shifts, or competitive saturation—leaves the implied causal link between investment volume and future success unexamined. This omission allows for the potential distortion of value as purely a function of announced financial metrics. The pattern detected is ARC-0043 Motte-and-Bailey, suggesting that the focus on large numbers (the scale of funding) serves to obscure underlying complexities regarding risk assessment, valuation sustainability, and the specific mechanisms driving competitive advantage in these nascent fields.
Sentinel — Human
This analysis presents structured financial data in a journalistic format, indicating it likely originates from a human or highly structured automated editorial process focused on specific databases.