February proved to be a banner month for U.S. startups seeking substantial funding, with several rounds exceeding $200 million. Defense technology and cybersecurity companies led the way, while AI and robotics firms also attracted significant investment.
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Saronic, $600M, defense: The autonomous surface vessel maker Saronic secured a $600 million Series C round, spearheaded by investor Elad Gil. This funding propelled the company’s valuation to $4 billion. This represents a remarkable fourfold increase in valuation in just seven months, following a $175 million Series B round last July, which placed the company’s valuation at $1 billion, led by Andreessen Horowitz. With this new influx of capital, the Austin, Texas-based company plans to establish a new shipyard, named Port Alpha, in Austin, Texas, to expand its production capabilities for medium and large-class autonomous vessels. Saronic designs and manufactures autonomous surface vehicles tailored for the U.S. Navy. Founded in 2022, the company has raised a total of $845 million, according to Crunchbase.
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NinjaOne, $500M, cybersecurity: NinjaOne, a provider specializing in endpoint management, security, and monitoring solutions, raised $500 million in an extended Series C round, achieving a valuation of $5 billion. Notably, this valuation represents a more than doubling of its value from just one year prior. The funding was provided in separate tranches led by Iconiq Growth and Google’s CapitalG, with participation from other investors. Headquartered in Austin, Texas, NinjaOne previously secured a $231.5 million Series C round led by Iconiq, at a valuation of $1.9 billion, a year prior. Endpoint security has been a fundamental aspect of cybersecurity since its inception, and its criticality has only amplified in the current environment, with more individuals working remotely and utilizing a wide array of networks and devices. This marks the largest funding round for NinjaOne since France-based I-Tracing, a managed security service provider, raised a venture round of approximately $516 million last June. Since its founding in 2013, NinjaOne has raised nearly $762 million, according to Crunchbase.
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Lambda, $480M, artificial intelligence: Lambda, which offers cloud computing services and hardware for training AI software, closed a $480 million Series D round, co-led by Andra Capital and SGW. Although the company didn’t specify its valuation, Reuters reported that the round valued the startup at $2.5 billion post-money. Lambda also offers the latest GPUs by Nvidia, which are highly sought after by AI developers. (Nvidia also participated in the round.) Lambda achieved unicorn status just a year ago, following a $320 million Series C, which brought its valuation to $1.5 billion.
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Eikon Therapeutics, $351M, biotech: Eikon Therapeutics secured one of the largest biotech funding rounds of 2025. The Hayward, California-based drug discovery startup closed a nearly $351 million Series D, with investments from firms such as Lux Capital and Alexandria Venture Investments. This round stands as the second-largest for a biotech startup this year, trailing only the $411 million Series A raised by London-based Verdiva Bio, a company working on treatments for obesity and cardiometabolic diseases, which closed in January. This is the latest in several large funding rounds for Eikon. Back in 2022, the company secured a $517.8 million Series B financing from almost 20 different investors. Eikon uses super-resolution microscopy to study the effects of drugs on living cells. The company, founded in 2019, has now brought in $1.1 billion, per Crunchbase.
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Apptronik, $350M, robotics: Although overall robotics funding saw relatively little change last year, several humanoid robot startups are attracting significant interest from investors this year. Apptronik is one such company, as the Austin, Texas-based AI-powered humanoid robotics firm raised a $350 million Series A. The funding round was co-led by B Capital and Capital Factory, with participation from Google. Established in 2016, Apptronik had previously secured $28 million in funding, according to the company. The robotics firm intends to allocate the fresh capital to develop Apollo, its humanoid robot designed for industrial applications. Apptronik, which competes with Tesla, has established partnerships with NASA and Nvidia and has developed 15 robotic systems, including NASA’s Valkyrie humanoid robot.
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Together AI, $305M, artificial intelligence: Together AI, which develops a cloud platform designed to enable developers to build on open and custom artificial intelligence models, secured a $305 million funding round. This round was led by General Catalyst and Saudi Arabia’s Prosperity7 Ventures, valuing the company at $3.3 billion. This new valuation represents an increase of over 160% from the $1.25 billion valuation it received following a $106 million round led by Salesforce Ventures a year prior for the Menlo Park, California-based startup last March. More than a dozen other investors joined the latest round, including Salesforce Ventures, Nvidia, Kleiner Perkins, and Coatue. Together AI recently surpassed $100 million in annualized revenue, an increase from the $30 million in annualized revenue it achieved last February, per Bloomberg.
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Harvey, $300M, legal: The San Francisco-based AI legal tech startup Harvey, which was featured last week for raising a $100 million Series C round, returns to the list. The round was led by GV with participation from the likes of OpenAI, Kleiner Perkins and Sequoia Capital at a $1.5 billion valuation. Harvey has now secured a $300 million round this month, led by Sequoia, which values the company at $3 billion, according to reports. Harvey develops AI tools for legal professionals, assisting them with research, document review, and contract analysis. Founded in 2022, the company has raised $506 million, per Crunchbase.
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Abridge, $250M, healthcare: Abridge, which utilizes artificial intelligence to generate medical documents, represents the latest healthcare/biotech company harnessing AI to secure substantial funding rounds. Based in Pittsburgh, the startup raised a $250 million round co-led by Elad Gil and IVP. While the company did not release its valuation, Fortune reported that Abridge is now valued at $2.75 billion post-funding. The company’s AI-powered platform helps medical professionals automate the creation of clinical notes and conversations. Since its founding in 2018, the company has secured nearly $458 million in funding, according to Crunchbase.
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(Tied) QuEra Computing, $230M, quantum: While the commercialization of quantum computing remains an ongoing development, that hasn’t stopped investors from increasing their investments in quantum-related startups. In February, SoftBank’s Vision Fund unit and Google Quantum AI both participated in a substantial $230 million round for Boston-based neutral-atom quantum firm QuEra Computing. Neutral-atom quantum computing is recognized for its lower error rates when compared to other quantum systems. Established in 2018, the company has raised a total of $247 million, as per Crunchbase.
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(Tied) XOi Technologies, $230M, enterprise software: Nashville-based XOi, a provider of jobsite-focused technology solutions for field service agents, secured a $230 million round from Kohlberg Kravis Roberts. The capital will be used for the acquisition of Specifx Data, an on-demand data enrichment and platform for field service equipment. XOi develops software that allows maintenance people to snap pictures to get information about the machines they are servicing. Founded in 2013, the company has raised $247 million, according to Crunchbase.
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(Tied) Abcuro, $200M, biotech: Abcuro, based in Newton, Massachusetts, develops therapies for the treatment of autoimmune diseases and cancer by targeting cytotoxic T cells secured a $200 million Series C round led by New Enterprise Associates. Founded in 2015, the company’s total funding amounts to nearly $415 million, according to Crunchbase.
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(Tied) Verkada, $200M, security: Verkada, a developer of security systems, closed a $200 million Series E round led by General Catalyst, valuing the San Mateo, California-based firm at $4.5 billion. The company last raised funding in October 2023, closing a $100 million round led by Alkeon Capital. With an increasing focus on network and application security, Verkada offers security solutions for the physical world. Its product line includes video security cameras, door-based access control, environmental sensors, and more, and has recently integrated artificial intelligence into its security products. Verkada, founded in 2016, reports that it has raised over $700 million in funding.
Big global deals: The largest funding round outside the U.S. came from Toronto-based StackAdapt, a multichannel programmatic advertising platform that uses AI and automation in its software to enhance capabilities and user experience, raised a $235 million growth round led by Teachers’ Venture Growth.
Methodology: This report is based on the largest funding rounds in the Crunchbase database that U.S.-based companies raised for the month of February 2025. While most funding rounds are represented in the database, there may be a small time lag, as some rounds are reported late in the month.
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