As 2025 kicks off, venture capital continues to flow into promising U.S. startups. Here’s a rundown of the 10 largest funding rounds announced between January 11 and January 17, all exceeding $100 million.
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Truveta, $320M, biotech: Leading the pack is Truveta, a medical data research company. This substantial $320 million investment comes from Regeneron Pharmaceuticals, Illumina and 17 U.S. health systems. The deal values the privately held company at over $1 billion. Truveta’s platform aggregates medical records to connect treatments with outcomes, with daily updates. Founded in 2020, the company has raised a total of $515 million.
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Stoke Space, $260M, space: Reusable rocket startup Stoke Space secured a $260 million Series C round. Located in Kent, Washington, the company is focused on developing fully reusable rockets designed to make space access more affordable. The new funding will facilitate the completion of their Nova launch vehicle’s construction at Cape Canaveral Space Force Station in Florida. New and existing investors, including Breakthrough Energy Ventures and Seven Seven Six, participated in the round. Since its founding in 2019, Stoke has raised over $480 million.
Space tech saw a resurgence in 2024, with VC-backed startups raising $8.3 billion, a 17% increase from 2023’s $7.1 billion, although still short of the $9.2 billion in 2022.
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Colossal Biosciences, $200M, genetics: Colossal Biosciences, a de-extinction startup with projects like bringing back the woolly mammoth and the dodo bird, raised a $200 million Series C at a valuation of $10.2 billion. The investment came from TWG Global. The company, established in Dallas in 2021, plans to advance its genetic engineering technologies, including software and hardware solutions for de-extinction, conservation, and human healthcare. The company believes that resurrecting extinct animals could lead to a better understanding of evolutionary changes in other species, along with applications that enhance food production and reduce environmental impact. Since its launch in 2021, Colossal has raised $435 million.
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Tune Therapeutics, $175M, biotech: Epigenetic programming startup Tune Therapeutics raised a substantial $175 million, led by Hevolution and New Enterprise Associates, along with Regeneron Ventures and Yosemite. The funds will support the development of the company’s existing pipeline, including its clinical-stage epigenetic silencing drug for chronic Hepatitis B, and additional gene, cell, and regenerative therapy programs. Founded in 2020, the company has raised $215 million, per Crunchbase.
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Loft Orbital, $170M, space: Space infrastructure startup Loft Orbital secured a $170 million funding round led by Axial Partners and Tikehau Capital. Based in San Francisco, the company constructs satellites that host customer-provided components like sensors and telescopes. Founded in 2017, Loft Orbital has raised $326 million.
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Caidya, $165M, biotech: Raleigh, North Carolina-based Caidya, a clinical research organization, received a strategic growth investment of $165 million from funds managed by Rubicon Founders. Caidya provides clinical trial services to biopharma companies, from regulatory strategy to post-approval surveillance. Founded in 2021, this represents the first disclosed funding round for the company.
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Phantom, $150M, crypto: Crypto wallet startup Phantom Technologies, based in San Francisco, raised $150 million in a round led by Paradigm and Sequoia Capital, bringing the company’s valuation to $3 billion. Founded in 2021, Phantom has raised $268 million.
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(tied) Harbinger, $100M, electric vehicle: Los Angeles-based electric commercial trucking startup Harbinger raised $100 million in a Series B co-led by Capricorn Investor Group and Leitmotif. Founded in 2021, the company has raised over $200 million.
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(tied) Instabase, $100M, data: San Francisco-based Instabase, which develops AI-powered solutions for handling unstructured data, secured a $100 million Series D led by Qatar Investment Authority. Founded in 2015, the company has raised $292 million.
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(tied) Umoja Biopharma, $100M, biotech: Seattle-based Umoja Biopharma, a developer of in vivo cell therapies, announced the closing of a $100 million Series C co-led by DCVC Bio and Double Point Ventures. Founded in 2019, the company has raised $363 million.
While this list highlights the biggest U.S.-based deals, it’s worth noting that a China-based company, Smart Fabric, which offers internet-enabled solutions for the textile industry, secured the largest funding round globally this week, with a $460 million Series C.
This analysis is based on the Crunchbase database, covering announced funding rounds by U.S.-based companies between January 11 and January 17, 2025.
