In June 2024, Growthink Capital Research observed a notable surge in new venture funding, amounting to $15.28 billion, representing a substantial increase from the $7.07 billion reported in May 2024.
The month’s biggest funding event belonged to Vantage Data Centers ($9.2 billion), a data center designed to increase energy enabling enterprises to design unique data storage solutions at lower costs.
Twelve companies raised $100 million or more in June. Other than Vantage Data Centers, the other eleven companies that raised the most are as follows:
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CoreWeave ($1.1 billion) a cloud infrastructure platform designed to provide computing resources for blockchain and other projects enabling clients to scale efficiently, design the variety of compute they need to create, and innovate and adapt to rapidly evolving compute requirements.
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AlphaSense ($650 million) a web-based market intelligence and search platform intended to offer critical insights, topics, and industries enabling research professionals to search, navigate, set alerts and analyze filings, research, news and other disclosures for critical data points with accuracy.
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Sila ($375 million) a supercharged car battery material intended to improve energy storage options enabling clients and users to access batteries that are more effective than lithium-ion technology.
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Formation Bio ($372 million) a biotech platform designed to bring treatments to patients by re-imagining drug development enabling researchers to expand their access to human subjects for research studies, paid clinical trials, psychological research, and focus groups.
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CData Software ($350 million) a data integration software designed to facilitate the way clients connect to data enabling organizations to solve data integration and connectivity challenges.
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Santa Ana Bio ($168 million) a biotechnology company intended to develop precision immunology for autoimmune diseases enabling customers to receive effective and targeted treatments that can lead to expected outcomes and improved quality of life.
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Talkiatry ($130 million) a mental health care service intended to expand access to treatment opportunities enabling people to easily seek in-network and quality healthcare.
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Bright Machines ($126 million) an automation software designed to assist businesses to meet the growing demands of manufacturing enabling clients to have improved yields at lower costs.
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Arrow ($110 million) a healthcare payments system with AI solutions designed to meet the industry’s evolving needs regarding speed, accuracy, and transparency.
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Vecna Robotics ($100 million) an autonomous mobile robot designed to offer safe and efficient material transport in commercial settings enabling clients to adjust processes on-demand to optimally run through the seasonal, market, and operational changes.
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Cognigy ($100 million) a conversational AI platform intended to automate customer and employee communications enabling large enterprises to conduct natural conversations between humans and machines, generating customer satisfaction in the process.
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The hottest sectors for funding during the month were A.I./Machine Learning, Biotech, Cybersecurity, Healthtech, and Business/Productivity Software.
Key funding events in each of these sectors for the month are below:
- A.I./Machine Learning deals included Bright Machines ($126 million), Arrow ($110 million), Cognigy ($100 million), ZeroEyes ($53 million), Iambic Therapeutics ($50 million), Daydream ($50 million), Twelve Labs ($50 million), Eko Health ($41 million), Anterior ($20 million), Indico Data ($19 million), Plenful ($17 million), Ario ($16 million), MagicSchool AI ($15 million), Sixfold ($15 million), illumex ($13 million), Autify ($13 million), Canary Speech ($13 million), Aidentified ($12.5 million), GPTZero ($10 million), HyperSpectral ($8.5 million), Brightwave ($6 million), Liminal ($5 million), and Hoop ($5 million).
- Biotech deals included Formation Bio ($372 million), Santa Ana Bio ($168 million), InduPro ($85 million), Elion Therapeutics ($81 million), Advanced Medicine Partners ($32 million), RareCyte ($20 million), Waypoint Bio ($14.5 million), and Alida Biosciences ($7.5 million).
- Cybersecurity deals included Cyberhaven ($88 million), Seven AI ($36 million), Hypr ($30 million), Entro Security ($18 million), Pomerium ($13.8 million), and iVerify ($12 million).
- Healthtech deals included AcuityMD ($45 million), Adonis ($31 million), Valar Labs ($22 million), Sift ($17.5 million), Better Health ($14 million), and Eyebot ($6 million).
- Business/Productivity Software deals included Cube ($25 million), Rocketlane ($24 million), Gynger ($20 million), Whoosh ($10.3 million), and Tektonic AI ($10 million).
If you’re looking for outside funding to grow your company, please don’t hesitate to call us at (213) 927-3968 or fill out Growthink Capital’s contact form here.
