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The Week鈥檚 10 Biggest Funding Rounds: Metropolis Snags Big Round For Dealmaking, Electric Hydrogen Powers Up

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Want to keep track of the largest startup funding deals in 2023 with our curated list of $100 million-plus venture deals to U.S.-based companies? Check out The 附近上门 Megadeals Tracker.

This is a weekly feature that runs down the week鈥檚 top 10 announced funding rounds in the U.S. Check out last week鈥檚 biggest funding rounds here.

Once again, we鈥檝e got lots of big rounds, including one of more than $1 billion to help awaken the slumbering M&A market. The big rounds ran the gamut, from parking (yes, parking!) to energy to good old AI. All told, investors seemed willing to invest and invest big as October opened strong.

1.听, $1.1B, computer vision: Parking startups aren鈥檛 usually high on this list, but when they add computer vision to their offering, well, that鈥檚 different. Los Angeles-based checkout-free parking startup Metropolis raised $1.7 billion in debt and equity led by and . The startup company has raised $1.05 billion through a Series C offering and $650 million of debt financing. The deal was used to take logistics firm private in a deal worth approximately $1.5 billion. The deal is the biggest M&A transaction of the year by a VC-backed company, per data. It even beats out 鈥 purchase of San Francisco-based language models training startup for $1.3 billion in June. Metropolis has developed a computer-vision system that enables drivers to park without using a credit card or even cash. Instead, drivers can use the app and enter information such as name and payment method. Metropolis then tracks the car and charges the owner. It can even email a receipt as they’re on their way out of the parking lot. Founded in 2017, the company has now raised $1.9 billion, .

2.听, $380M, energy: Green hydrogen hasn鈥檛 always been a favorite among investors, but that may be changing. Earlier this year, raised a $250 million Series C led by . This week, Electric Hydrogen became a unicorn, raising a $380 million Series C at a $1 billion valuation. The round included the likes of and . Green hydrogen is produced through electrolyzer systems 鈥 which are used to split water through electrolysis to create hydrogen and powered by renewable energy. The process can be expensive because of the energy consumed and the equipment needed, but obviously investors are starting to warm to the sector and see a way to make money. Founded in 2021, Natick, Massachusetts-based Electric Hydrogen has raised more than $600 million, .

3.听, $125M, health care: Even before the pandemic, mental health was becoming a primary concern for many people. In June, mental health startup locked up a $115 million round from and . This week, New York-based Headway raised $125 million in a Series C at a $1 billion valuation, per . The round was led by . The startup鈥檚 platform helps connect patients with therapists who are covered under a user’s insurance. Founded in 2018, the company has now raised more than $225 million, .

4. (tied) , $100M, biotech: If it seems like a biotech startup always makes it into the top five every week, that鈥檚 because one does. This week, Iambic Therapeutics closed a $100 million Series B financing co-led by and . The San Diego-based biotech firm is developing new therapeutics from its generative AI discovery platform, which may explain why also was an investor. Founded in 2019, the company has raised $153 million, .

4. (tied) , $100M, artificial intelligence: Investors love AI, you may have heard. One of the larger and more interesting AI rounds this week went to Lakewood, Colorado-based Prins AI, which raised a somewhat under-the-radar $100 million Series B led by . The startup has developed a platform for creating AI digital identities 鈥 or 鈥渟mart workers鈥 鈥 that can be used in lieu of humans for things such as marketing and training videos, or even broadcast media. The company has offices around the world, including China, and plans to use the fresh cash to enhance its R&D in deep-learning tech for digital identity products. The startup has now raised $132 million, .

4. (tied) , $100M, space: For the second week in a row, spacetech saw a big round. Last week, raised a $290 million Series B. This week, Dallas-based reusable rocket developer Stoke Space raised a $100 million Series B led by . The company plans to use the new cash to develop its Nova rocket and new construction at its Cape Canaveral Space Force Station site in Florida. Founded in 2019, the company has raised more than $176 million, .

7.听, $79M, defense: Austin, Texas-based defense tech startup Mach Industries closed a $79 million Series A led by at a post-money valuation of $335 million, . Founded in 2022, the company has raised nearly $85 million, according .

8.听, $75M, software: Redmond, Washington-based software developer iLink Digital raised a $75 million round from private equity firm . Founded in 2002, this is the company鈥檚 first significant outside investment, .

9.听, $61M, accounting: Mountain View, California-based Stampli, which makes AI-powered tools to help companies pay bills, raised a $61 million round led by funds managed by . Founded in 2015, the company has raised nearly $146 million, .

10.听, $60M, electric vehicle: Rhode Island-based Regent Craft, a manufacturer of all-electric seagliders, locked up a $60 million Series A co-led by and . Founded in 2020, Regent has raised $90 million, per the company.

Big global deals

Anthropic led the way globally, but there were big rounds overseas.

  • Indonesia-based , a fintech startup that provides a B2B marketplace lending platform, raised a $231 million Series D.

Methodology

We tracked the largest announced rounds in the 附近上门 database that were raised by U.S.-based companies for the seven-day period of Sept. 30 to Oct. 6. 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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