The Week’s 10 Biggest Funding Rounds: AI, Energy And Biotech Lead The Way

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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.

U.S. startups announced sizable funding rounds at a steady clip during a truncated holiday week, with energy and AI leading the way.

Houston-based energy startup Joulent secured the biggest round, a $1.75 billion strategic financing, followed by Together AI, a developer of infrastructure for companies running open source AI models, and LeapXpert, a provider of compliance tools for enterprises.

Other big rounds were for companies focused on therapeutics, homebuilding, and even lacrosse.

1. Joulent, $1.75B, energy: Houston-based Joulent, a provider of energy infrastructure focused on the demands of artificial intelligence and other compute-intensive industries, raised $1.75 billion in a strategic investment backed by National Grid through its National Grid Ventures arm.

2. Together AI, $800M, AI infrastructure: Together AI, developer of an infrastructure layer for companies running open source AI models, secured $800 million in Series C financing. Aramco Ventures led the round, which set an $8.3 billion post-money valuation for the San Francisco-based startup.

3. LeapXpert, $180M, compliance: LeapXpert, a provider of tools for tracking enterprise communications for compliance needs, closed on $180 million in growth financing. Riverwood Capital led the financing for the New York-based company.

4. 8090 Solutions, $135M, AI software development: Redwood City, California-based 8090 Solutions, developer of a platform for building enterprise software with coordinated AI agents under human-led oversight,  picked up $135 million in a round led by Salesforce 1. The company, founded in 2024, counts prominent startup investor Chamath Palihapitiya as co-founder and CEO.

5. Beeline Medicines, $126M, biotech: Boston-based Beeline Medicines, a startup focused on precision therapies for autoimmune and inflammatory diseases, secured $126 million in Series A extension funding backed by Bain Capital, CPP Investments and Bristol-Myers Squibb. The financing follows a previously disclosed $300 million Series A.

6. (tied) Premier Lacrosse League, $100 million, professional sports: The Premier Lacrosse League, a men’s professional lacrosse league in North America, closed a $100 million Series E financing round led by Ares Management and Joe Tsai. New York-based PLL said the deal represents the largest capital raise in the history of professional lacrosse.

6. (tied) Twelve Labs, $100M, video-based AI: Twelve Labs, a San Francisco-based startup developing AI systems trained on video archives, raised $100 million in a Series B round co-led by New Enterprise Associates and Naver Ventures.

8. Higharc, $95M, AI for homebuilding: Higharc, a developer of AI-enabled tools for designing homes and managing workflows around homebuilding, picked up $95 million in Series C funding. Insight Partners led the financing for the Durham, North Carolina-based company.

9. Flare Therapeutics, $85M, biotech: Cambridge, Massachusetts-based Flare Therapeutics, a startup targeting transcription factors to develop treatments for cancer and other ailments, raised $85 million in Series C funding led by Third Rock Ventures and Nextech Invest.

10. Venice, $65M, AI privacy: Venice, developer of a platform enabling private, surveillance-free access to a wide array of AI models, secured $65 million in Series A funding led by Dragonfly. The round set a $1 billion valuation for the 2-year-old Sheridan, Wyoming-based startup.

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of June 27-July 2. 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