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Want to keep track of the largest startup funding deals in 2024 with our curated list of $100 million-plus venture deals to U.S.-based companies? Check out The ¸½½üÉÏÃÅ Megadeals Board.

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 rounds here.

The week saw the second-biggest raise of the year, as ’ monster raise ranks behind only ’s massive $6 billion in May. Aside from that, the week saw some big rounds from cybersecurity, travel and of course, biotech.

1. , $1.5B, defense: matched its own record for the largest defense tech round ever. The Costa Mesa, California-based startup locked up a $1.5 billion Series F that values the company at $14 billion — a 69% jump from the $8.5 billion valuation it received after its massive $1.5 billion Series E in late 2022. The round was co-led by and . The company will use some of the new proceeds for the development of Arsenal-1 — a more than 5 million-square-foot production space designed to produce tens of thousands of autonomous military systems annually. After a slow start to the year, funding to defense tech startups has picked up dramatically in the past few months. Just last month, , which develops artificial intelligence software for defense, raised approximately $489 million in funding led by that values the company at $5.4 billion. After Anduril’s huge round, defense tech startups now have raised $2.5 billion in 2024, per ¸½½üÉÏÃÅ . Last year, such startups collected only $2 billion total.

2. , $640M, semiconductor: AI semiconductor and software startup Groq started the week off with a bang when it announced it had locked up a $640 million Series D round at a valuation of $2.8 billion. The round was led by funds and accounts managed by . The Mountain View, California-based firm is helping develop ways to optimize AI and lessen the vast amount of computing power that is currently needed to do that. The new round almost triples the company’s valuation from its Series C in 2021. Founded in 2016, the company has raised $1 billion, .

3. , $250M, cybersecurity: closed a $250 million Series D that now values the San Francisco-based cybersecurity startup at $5.1 billion. The new round was led by . The new valuation is a more than 28% uptick from the $4 billion valuation Abnormal got when it raised a $210 million Series C led by back in May 2022. Founded in 2018, Abnormal looks to stop attacks and find compromised accounts across email and connected applications through leveraging machine learning and AI to understand human behavior. The startup has raised nearly $546 million total, per the company. Abnormal also says it recently surpassed $200 million in annual recurring revenue. After a down 2023, cybersecurity startups are once again seeing the cash. In the second quarter of 2024, cyber startups saw a robust $4.4 billion invested, according to ¸½½üÉÏÃÅ . The dollar figure represents a 63% increase from Q1, which saw $2.7 billion roll to startups in 173 deals. It was the best quarter for funding in the sector since Q1 2022 and a 144% increase from Q2 2023.

4. , $225M, travel: Travel startup Flyr raised $225 million in equity and $70 million in debt in a new funding round. The equity portion was led by and values the startup at $900 million. The San Francisco-based startup develops software for the travel industry, such as airlines. Founded in 2013, the company has raised $482 million, .

5. , $120M, biotech: The big biotech raise this week went to a Plymouth, Massachusetts-based startup. IDRx, a clinical-stage biotech developing cancer treatment with precision therapies, raised a $120 million Series B led by , and multiasset investing. Founded in 2022, the company has raised $242 million, .

6. , $100M, artificial intelligence: Palo Alto, California-based DevRev, which develops AI for customer support and other uses, raised $100 million from and other investors. The round values the company at $1.15 billion. Founded in 2020, the company has raised $150 million, .

7. , $68M, biotech: Shinobi Therapeutics, a South San Francisco, California-based biotechnology company developing immune evasive iPS cell therapies, raised a $68 million Series A extension from and . Founded in 2023, Shinobi says it has raised $119 million.

8. , $64M, biotech: MBX Biosciences, a clinical-stage biopharmaceutical company focused on the development of precision peptide therapies for the treatment of metabolic disorders, announced a $63.5 million Series C financing led by . Founded in 2019, the Carmel, Indiana-based company has raised more than $238 million, .

9. , $57M, space: Mountain View, California-based Muon Space, which designs and operates low-earth orbit satellite constellations, raised a $56.7 million Series B funding led by . Founded in 2021, the company has raised nearly $92 million, .

10. , $55M, biotech: Red Queen Therapeutics came out of stealth with a $55 million Series A from . The Cambridge, Massachusetts-based biotechnology company develops antiviral treatments.

Big global deals

While the biggest raises came from the U.S., there was a large AI round in Asia.

• China-based artificial intelligence startup raised a $300 million venture round.

Methodology

We tracked the largest announced rounds in the ¸½½üÉÏÃÅ database that were raised by U.S.-based companies for the seven-day period of August 3 to August 9. 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.

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