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Funding Wrap of the Week | American Startups Funding Roundup | May 19 – May 24

There are a lot of American startups funding deals that are creating buzz around the startup ecosystem. These are the growth-stage and early-stage deals of this week. Let’s talk about the Top 10 Funding deals. 

There are a lot of American startups funding deals that are creating buzz around the startup ecosystem. These are the growth-stage and early-stage deals of this week. Let’s talk about the Top 10 Funding deals. 

The Top 10 American Startups Funding Deals

Scale AI

Scale AI, the data foundry for AI, secures $1billion in series F round funding bringing the company to a valuation of nearly $14 billion. Existing investor Accel led the round with participation from returning investors including Y Combinator, Nat Friedman, Index Ventures, Founders Fund, Coatue, Thrive Capital, Spark Capital, NVIDIA, Tiger Global Management, Greenoaks, and Wellington Management. New investors include Cisco Investments, DFJ Growth, Intel Capital, ServiceNow Ventures, AMD Ventures, WCM, Amazon, Elad Gil, and Meta.

Scale AI is fueling the Generative AI revolution. Built on a foundation of high-quality data and human insight, Scale’s proprietary Data Engine powers the world’s most advanced models.

Suno

Suno, a music creation platform, has received $125 million in funding. Nat Friedman, Daniel Gross, Matrix, Lightspeed Venture Partners, and Founder Collective were among the investors.

Suno is establishing a future in which any individual can create music. They eliminate obstacles that separate you from the composition you aspire to create, regardless of whether you are a charting artist or a shower singer.

Progentos Therapeutics

Progentos Therapeutics, a biotech company that specialises in the regeneration of myelin and the restoration of function for patients with Multiple Sclerosis (MS) and other demyelinating diseases, has secured $65 million in series A round funding.

Loose and Sanjay Magavi, a former researcher at Vertex Pharmaceuticals who currently serves as the startup’s chief scientific officer, co-founded Progentos. 

Allez Health

Allez Health, a provider of a continuous glucose monitoring (CGM) biosensor platform secures $60million in series A+ round funding. The round was led by Korean in-vitro diagnostics company, Osang Healthcare Co., Ltd. as a strategic investor, with participation from existing investors.

Allez Health, Inc. is an innovative smart biosensor company for connected digital health platforms. The Allez Health sensor is an investigational device that is not yet cleared or approved by the U.S. Food and Drug Administration or any other regulatory authority.

280 Earth

280 Earth, a company that removes CO2 from the air, secures $50million in series B round funding. Builders VC was the lead investor in the round. The capital is intended to be utilised by the company to enhance its development efforts for DAC projects.

In 2022, 280 Earth was established with the objective of commercialising and expanding the innovative direct air capture technology that was developed at X, The Moonshot Factory (Google X).

Hydrolix

Hydrolix, a streaming data lake platform, secures $35million in series B round funding. With the participation of previous investors like Nava Ventures, Wing Ventures, AV8 Ventures, and Oregon Venture Fund, the company’s total fundraising to date has reached $68 million.

A novel cloud database system designed for the modern data economy is called Hydrolix. Hydrolix is an enterprise-ready solution that offers limitless real-time data observability and is a sophisticated choice for companies trying to get the most out of their data without going over budget.

Coactive Systems

Coactive Systems, an AI-powered platform that enables the utilisation of image and video data, has secured $30 million in series B round funding at a $200 million valuation. The round was co-led by Emerson Collective and Cherryrock Capital, with Bessemer Venture Partners, Greycroft, and previous investor Andreessen Horowitz participating.

At Coactive AI, they are enabling data practitioners and data-driven teams to uncover insights in unstructured image and video data. This visual data is increasingly capturing everyday life, from their online experiences on e-commerce sites and social media to guiding the cars they drive and monitoring the plants we consume.

WitnessAI

WitnessAI, creator of the first enablement platform for safe AI use, secures $27.5 million Series A round funding , co-led by GV and Ballistic Ventures. The company had previously been incubated by Ballistic Ventures, beginning in 2023.

WitnessAI enables safe and effective adoption of enterprise AI, through security and governance guardrails for public and private LLMs. The WitnessAI Secure AI Enablement Platform provides visibility of employee AI use, control of that use via AI-oriented policy, and protection of that use via data and topic security.

PolarityTE

PolarityTE clinical-stage biotechnology company developing regenerative tissue products secures $22.5million in equity financing from institutional investors and current shareholders.

PolarityTE, headquartered in Salt Lake City, Utah, is a biotechnology company developing regenerative tissue products. It’s first regenerative tissue product is SkinTE®. PolarityTE has an open investigational new drug application (IND) for SkinTE® with the U.S.

Patronus AI

Patronus AI, a provider of an automated evaluation and security platform secures $17million in series A round funding. Leading the round, which raised the total to $20 million, was Notable Capital’s Glenn Solomon. Lightspeed Venture Partners, Datadog, Gokul Rajaram, Factorial Capital, and executives in the software and AI industries also participated.

The top automated AI security and evaluation firm is Patronus AI. Enterprise development teams may benchmark LLMs, create adversarial test cases, assess LLM performance, and more with our state-of-the-art platform. 

Frequently asked questions (FAQs)

Name the Top American Startups Funding Deals in This Week?

Scale AI, Suno, Progentos Therapeutics, Allez Health, 280 Earth, Hydrolix, Coactive Systems, WitnessAI, PolarityTE, Patronus AI, are the Top 10 North American Startups Funding Deals of This Week.

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