Armed with data from our friends at CrunchBase, I’ve analyzed the largest US startup funding rounds of the month, including key details such as industry focus, company descriptions, round types, founding teams, and total equity raised to date.
Key Trends and Observations
Austin’s Unexpected Rise to Prominence
Perhaps the most striking trend in February’s funding data is the emergence of Austin. Three of the top fifteen deals—including the #1 and #2 largest rounds—went to Austin-based companies:
Saronic ($600M Series C) – Maritime security and unmanned surface vehicles
NinjaOne ($500M Series C) – IT endpoint management platform
Apptronik ($350M Series A) – Human-centered robotics systems
AI Dominance Continues
Artificial Intelligence remains the dominant investment theme, with 8 of the 15 largest funding rounds going to AI-focused startups. Companies like Together AI ($305M), Harvey ($300M), and Abridge ($250M) are pioneering applications across various industries:
Enterprise AI continues to attract major funding, with companies focusing on legal tech, healthcare, and IT infrastructure
Generative AI platforms are securing significant late-stage funding, indicating investor confidence in their long-term potential
Hardware infrastructure supporting AI development (like EnCharge AI’s $100M round) shows the comprehensive ecosystem being built around artificial intelligence
Deep Tech Gaining Traction
Beyond pure software plays, deep tech companies in quantum computing (QuEra Computing’s $230M), space technology (K2 Space’s $110M), and robotics (Apptronik’s $350M) secured significant funding.
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15. EnCharge AI $100.0M
Round: Series BDescription: Santa Clara-based EnCharge AI designs analog in-memory-computing AI chips and develops AI systems for AI computing. Founded by Echere Iroaga, Kailash Gopalakrishnan, and Naveen Verma in 2022, EnCharge AI has now raised a total of $144.3M in total equity funding and is backed by Alumni Ventures, Tiger Global Management, Anzu Partners, Morgan Creek Digital, and Scout Ventures.Investors in the round: 8VC, Andreessen Horowitz, Caffeinated Capital, Elad Gil, General Catalyst, Lightspeed Venture Partners, Silent VenturesIndustry: Artificial Intelligence (AI), Embedded Software, Semiconductor, SoftwareFounders: Echere Iroaga, Kailash Gopalakrishnan, Naveen VermaFounding year: 2022Location: Santa ClaraTotal equity funding raised: $144.3M
15. Mercor $100.0M
Round: Series BDescription: San Francisco-based Mercor is an AI-based hiring platform designed to improve the recruitment process for both job seekers and companies. Founded by Adarsh Hiremath, Brendan Foody, and Surya Midha in 2023, Mercor has now raised a total of $133.6M in total equity funding and is backed by General Catalyst, Menlo Ventures, Felicis, Link Ventures, and DST Global.Investors in the round: CapitalG, ICONIQ GrowthIndustry: Artificial Intelligence (AI), Machine Learning, Recruiting, SoftwareFounders: Adarsh Hiremath, Brendan Foody, Surya MidhaFounding year: 2023Location: San FranciscoTotal equity funding raised: $133.6M
15. Semgrep $100.0M
Round: Series DDescription: San Francisco-based Semgrep is an application security platform that scans code for bugs, security vulnerabilities, and enforce coding standards. Founded by Drew Dennison, Isaac Evans, and Luke O’Malley in 2017, Semgrep has now raised a total of $193.0M in total equity funding and is backed by Menlo Ventures, Sequoia Capital, Lightspeed Venture Partners, Felicis, and Harpoon.Investors in the round: 1517 Fund, Andra Capital, Andrej Karpathy, ARK Investment Management, Crescent Cove Advisors, Fincadia Advisors, G Squared, IQT, KHK & Partners, NVIDIA, Pegatron, SGW, Supermicro, US Innovative Technology Fund, Wistron Corporation, WiwynnIndustry: Cyber Security, Network Security, Security, SoftwareFounders: Drew Dennison, Isaac Evans, Luke O‚ÄôMalleyFounding year: 2017Location: San FranciscoTotal equity funding raised: $193.0M
14. Eudia $105.0M
Round: Series ADescription: Palo Alto-based Eudia is an augmented intelligence platform that enhances legal team efficiency using AI. Founded by Ashish Agrawal, David Van Reyk, and Omar Haroun in 2023, Eudia has now raised a total of $105.0M in total equity funding and is backed by General Catalyst, Everywhere Ventures, Floodgate, Sierra Ventures, and Hakluyt Capital.Investors in the round: ARK Investment Management, B Capital, Capital Factory, Ethos Family Office, Google, Japan Post Capital, Mercedes-Benz Group AG, RyderVentures, Scrum Ventures, Trajectory VenturesIndustry: Artificial Intelligence (AI), Information Technology, PaaSFounders: Ashish Agrawal, David Van Reyk, Omar HarounFounding year: 2023Location: Palo AltoTotal equity funding raised: $105.0M
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13. K2 Space $110.0M
Round: Series BDescription: Torrance-based K2 Space develops innovative satellite buses, supporting space missions with efficient design and performance across various orbits. Founded by Karan Kunjur and Neel Kunjur in 2022, K2 Space has now raised a total of $175.5M in total equity funding and is backed by Lightspeed Venture Partners, First Round Capital, Altimeter Capital, Alpine Space Ventures, and Spacecadet Ventures.Investors in the round: Brave Capital, Cadenza Ventures, Coatue, DAMAC Capital, Definition, Emergence Capital, General Catalyst, Greycroft, John J. Chambers, Kleiner Perkins, Long Journey Ventures, Lux Capital, March Capital, NVIDIA, Prosperity7 Ventures, Salesforce Ventures, Scott Banister, SE VenturesIndustry: Aerospace, Machinery Manufacturing, Manufacturing, Space TravelFounders: Karan Kunjur, Neel KunjurFounding year: 2022Location: TorranceTotal equity funding raised: $175.5M
12. 80 Acres Farms $115.0M
Round: VentureDescription: Hamilton-based 80 Acres Farms is a farming company that uses indoor farming technology. Founded by Mike Zelkind and Tisha Livingston in 2015, 80 Acres Farms has now raised a total of $390.0M in total equity funding and is backed by General Atlantic, Blue Earth Capital, Virgo Investment Group, eGateway Capital, and Beyond Net Zero.Investors in the round: Coatue, Conviction Partners, Elad Gil, Google Ventures, Kleiner Perkins, OpenAI Startup Fund, REV, Sequoia CapitalIndustry: Agriculture, Farming, Organic FoodFounders: Mike Zelkind, Tisha LivingstonFounding year: 2015Location: HamiltonTotal equity funding raised: $390.0M
11. Tidal Vision $140.0M
Round: Series BDescription: Bellingham-based Tidal Vision manufactures chitosan-based biomolecular solutions for some of humanity’s chemistry and pollution. Founded by Craig Kasberg and Zach Wilkinson in 2015, Tidal Vision has now raised a total of $201.7M in total equity funding and is backed by SOSV, IndieBio, Convent Capital, Milliken & Company, and TELUS Pollinator Fund for Good.Investors in the round: Bessemer Venture Partners, California HealthCare Foundation, CapitalG, CVS Health Ventures, Elad Gil, IVP, K. Ventures, Lightspeed Venture Partners, NVentures, Redpoint, Spark Capital, SV AngelIndustry: Agriculture, Biotechnology, ManufacturingFounders: Craig Kasberg, Zach WilkinsonFounding year: 2015Location: BellinghamTotal equity funding raised: $201.7M
10. Chestnut Carbon $160.0M
Round: Series BDescription: New York-based Chestnut Carbon develops nature-based projects to generate carbon removal credits and support net-zero initiatives. Founded by Ben Dell in 2022, Chestnut Carbon has now raised a total of $360.0M in total equity funding and is backed by Kimmeridge, DBL Partners, CPP Investments, and Cloverlay.Investors in the round: Alphabet, Google, QVT Financial, Safar Partners, SoftBank Vision Fund, Valor Equity PartnersIndustry: Carbon Capture, CleanTech, Environmental Engineering, ForestryFounders: Ben DellFounding year: 2022Location: New YorkTotal equity funding raised: $360.0M
9. Verkada $200.0M
Round: Series EDescription: San Mateo-based Verkada is a cloud-based physical security platform that specializes in security cameras and security solutions for enterprises. Founded by Benjamin Bercovitz, Filip Kaliszan, Hans Robertson, and James Ren in 2016, Verkada has now raised a total of $643.9M in total equity funding and is backed by General Catalyst, Sequoia Capital, Lightspeed Venture Partners, Eclipse Ventures, and Felicis.Investors in the round: Eclipse Ventures, General CatalystIndustry: Enterprise Software, Internet of Things, Physical Security, Smart BuildingFounders: Benjamin Bercovitz, Filip Kaliszan, Hans Robertson, James RenFounding year: 2016Location: San MateoTotal equity funding raised: $643.9M
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8. QuEra Computing $230.0M
Round: VentureDescription: Boston-based QuEra Computing is a neutral-atoms-based quantum computing startup. Founded by Dirk Englund, John Pena, Markus Greiner, Mikhail Lukin, Nathan Gemelke, and Vladan Vuletic in 2018, QuEra Computing has now raised a total of $17.0M in total equity funding and is backed by Valor Equity Partners, Google, SoftBank Vision Fund, Safar Partners, and Rakuten.Investors in the round: Cloverlay, CPP Investments, DBL Partners, KimmeridgeIndustry: Computer, Consumer Research, Quantum ComputingFounders: Dirk Englund, John Pena, Markus Greiner, Mikhail Lukin, Nathan Gemelke, Vladan VuleticFounding year: 2018Location: BostonTotal equity funding raised: $17.0M
7. Abridge $250.0M
Round: Series DDescription: Pittsburgh-based Abridge is an AI-driven platform that transforms patient-clinician conversations into structured clinical notes for healthcare industries. Founded by Florian Metze, Sandeep Konam, and Shivdev Rao in 2018, Abridge has now raised a total of $457.5M in total equity funding and is backed by Union Square Ventures, Bessemer Venture Partners, Lightspeed Venture Partners, KdT Ventures, and Spark Capital.Investors in the round: Cambridge Companies, Convent Capital, Eni Next, IDO Investments, KIRKBI, MBX Capital, Milliken & Company, Swen Capital PartnersIndustry: Artificial Intelligence (AI), Electronic Health Record (EHR), Enterprise Software, Generative AI, Health Care, Intelligent Systems, Machine Learning, Medical, Natural Language Processing, SaaSFounders: Florian Metze, Sandeep Konam, Shivdev RaoFounding year: 2018Location: PittsburghTotal equity funding raised: $457.5M
6. Harvey $300.0M
Round: Series DDescription: San Francisco-based Harvey provides AI-driven tools to assist legal professionals with research, document review, and contract analysis. Founded by Gabe Pereyra and Winston Weinberg in 2022, Harvey has now raised a total of $506.0M in total equity funding and is backed by OpenAI, Sequoia Capital, Conviction Partners, Kleiner Perkins, and Coatue.Investors in the round: Barclays Climate Ventures, Blue Earth Capital, General Atlantic, Siemens Financial Services, Virgo Investment Group, Western & Southern Financial GroupIndustry: Artificial Intelligence (AI), Information Technology, Legal, Legal TechFounders: Gabe Pereyra, Winston WeinbergFounding year: 2022Location: San FranciscoTotal equity funding raised: $506.0M
5. Together AI $305.0M
Round: Series BDescription: San Francisco-based Together AI is a cloud-based platform designed for constructing open-source generative AI and infrastructure for developing AI models. Founded by Ce Zhang, Chris Re, Percy Liang, and Vipul Ved Prakash in 2022, Together AI has now raised a total of $533.5M in total equity funding and is backed by General Catalyst, NVIDIA, Emergence Capital, New Enterprise Associates, and Salesforce Ventures.Investors in the round: Alpine Space Ventures, Altimeter Capital, First Round Capital, Lightspeed Venture PartnersIndustry: Artificial Intelligence (AI), Generative AI, Internet, IT Infrastructure, Open SourceFounders: Ce Zhang, Chris Re, Percy Liang, Vipul Ved PrakashFounding year: 2022Location: San FranciscoTotal equity funding raised: $533.5M
4. Apptronik $350.0M
Round: Series ADescription: Austin-based Apptronik designs and builds human-centered robotics systems. Founded by Bill Helmsing, Jeffrey Cardenas, and Nicholas Paine in 2016, Apptronik has now raised a total of $378.5M in total equity funding and is backed by B Capital, Google, Scrum Ventures, Capital Factory, and Terex.Investors in the round: Andrew Sieja, B3 Capital, BackBone Ventures, Chris Re, Defy Ventures, Everywhere Ventures, FirsthandVC, Floodgate, General Catalyst, Gokul Rajaram, Hakluyt Capital, Michael Gamson, Scott Belsky, Sierra VenturesIndustry: Artificial Intelligence (AI), Industrial Automation, Machinery Manufacturing, RoboticsFounders: Bill Helmsing, Jeffrey Cardenas, Nicholas PaineFounding year: 2016Location: AustinTotal equity funding raised: $378.5M
3. Lambda $480.0M
Round: Series DDescription: San Francisco-based Lambda provides infrastructure, cloud services, and software for the training and inferencing of AI models. Founded by Michael Balaban and Stephen Balaban in 2012, Lambda has now raised a total of $902.7M in total equity funding and is backed by B Capital, NVIDIA, Alumni Ventures, Bossa Invest, and G Squared.Investors in the round: ACVC, AlleyCorp, Anzu Partners, Capital TEN, Constellation Technology Ventures, CTBC Capital, Foxconn Co-GP Fund, IQT, Maverick Silicon, Morgan Creek Digital, RTX Ventures, S5V, Samsung Ventures, Scout Ventures, SIP Global Partners, Tiger Global Management, Vanderbilt University, VentureTech Alliance, Zero Infinity PartnersIndustry: Artificial Intelligence (AI), Cloud Computing, GPU, Machine LearningFounders: Michael Balaban, Stephen BalabanFounding year: 2012Location: San FranciscoTotal equity funding raised: $902.7M
2. NinjaOne $500.0M
Round: Series CDescription: Austin-based NinjaOne serves as an IT platform for endpoint management that enhances productivity, minimizes risks, and lowers overall IT expenses. Founded by Christopher Matarese, Eric Herrera, and Sal Sferlazza in 2013, NinjaOne has now raised a total of $761.5M in total equity funding and is backed by ICONIQ Growth, Summit Partners, CapitalG, Amit Agarwal, and Frank Slootman.Investors in the round: Adam D’Angelo, Benchmark, DST Global, Felicis, General Catalyst, Jack Dorsey, Larry Summers, Menlo Ventures, Peter ThielIndustry: Cyber Security, Document Management, Information Services, Software, Software EngineeringFounders: Christopher Matarese, Eric Herrera, Sal SferlazzaFounding year: 2013Location: AustinTotal equity funding raised: $761.5M
1. Saronic $600.0M
Round: Series CDescription: Austin-based Saronic designs and manufactures unmanned surface vehicles for maritime security and domain awareness. Founded by Dino Mavrookas, Doug Lambert, Rob Lehman, and Vibhav Altekar in 2022, Saronic has now raised a total of $845.0M in total equity funding and is backed by Andreessen Horowitz, General Catalyst, Lightspeed Venture Partners, 8VC, and Caffeinated Capital.Investors in the round: Felicis, Harpoon, Lightspeed Venture Partners, Menlo Ventures, Redpoint, Sequoia CapitalIndustry: Artificial Intelligence (AI), Manufacturing, Marine Technology, Military, SecurityFounders: Dino Mavrookas, Doug Lambert, Rob Lehman, Vibhav AltekarFounding year: 2022Location: AustinTotal equity funding raised: $845.0M
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