Funding

Hadrian, a manufacturing startup focused on defense and aerospace, has secured nearly $8 billion in valuation, more than quadrupling its January figure. Co-led by Baillie Gifford and J.P. Morgan Strategic Investment Group, the funding will fuel investments in workforce, its Opus software platform, and address national production challenges in areas like submarines and munitions. This surge reflects a broader boom in defense tech, with Hadrian positioned to modernize manufacturing through physical AI.

Axiom Biosciences is planning its IPO in Hong Kong in 2027, followed by a U.S. secondary listing in 2029. This strategic move aims to access Asia’s growing capital markets and tap into a biotech-focused investor base. While the U.S. remains a capital hub, Hong Kong offers a mature ecosystem, strong recent listing performance, and proximity to Asian partners, appealing to companies seeking capital and efficient scaling.

Rising AI model costs are driving finance executives toward open-source solutions, benefiting cloud startup Fireworks. The company has reached $1 billion in annualized revenue and secured $1.5 billion in funding, valuing it at $17.5 billion. Fireworks competes with major cloud providers by offering a platform for hosting and training AI models, enabling specialized intelligence development for clients. This growth highlights a shift in the AI infrastructure landscape, challenging established players.

European defense startup Helsing secured $1.8 billion in funding, valuing the company at $18 billion. This significant investment, backed by major financial institutions, highlights growing investor confidence in AI-driven defense technologies. Helsing, known for its advanced drones and underwater surveillance systems, aims to accelerate the integration of its AI platforms into partner nations’ defense capabilities. The company’s success reflects a broader trend of increasing private investment in next-generation defense companies.

SambaNova has secured $1 billion in new funding, valuing the AI chip startup at $11 billion amidst intense competition in the AI inference market. The investment, led by General Atlantic, will accelerate the deployment of their specialized AI server units. SambaNova focuses on efficient AI inference and on-premise solutions for enhanced data control and security, particularly for sensitive industries like finance. The company is also exploring a US IPO in 2027.

Quantum Systems has secured $1.2 billion in Series D funding, valuing the drone maker at $8 billion. This significant investment highlights the booming defense tech sector, fueled by geopolitical shifts. The capital will support production scaling, supply chain resilience, and innovation in autonomous systems and AI. The company’s successful deployment in Ukraine underscores the demand for its solutions.

Jeff Bezos’s AI venture, Prometheus, has raised $12 billion at a $41 billion valuation. Co-led by Bezos and Vik Bajaj, the company is developing AI tools to accelerate physical product design and manufacturing. Significant funding will be allocated to acquiring advanced computing power for training sophisticated AI models. Prometheus aims to tackle complex challenges in engineering, manufacturing, and drug design.

Supabase has secured $500 million in funding at a $10.5 billion valuation, doubling its worth since its last round. This substantial investment highlights strong investor confidence in AI development infrastructure, with Supabase’s PostgreSQL-based platform proving crucial for AI-assisted coding and application scaling. The company is challenging established database providers and plans to use the funds to further fuel AI development.

Anthropic has reached a $965 billion valuation following a $65 billion funding round, surpassing OpenAI. This surge is driven by the success of its AI coding assistant Claude Code and its new model, Claude Opus 4.8. The company also introduced Claude Mythos, a cybersecurity-focused AI. This significant funding positions Anthropic strongly amidst intense competition and potential IPOs from rivals.

Fintech firm Mercury has secured $200 million in Series D funding, valuing the company at $5.2 billion, a 49% increase in 14 months. Led by TCV and supported by existing investors like Sequoia Capital, Mercury serves over 300,000 startups. The company has achieved profitability for four years, with annualized revenue reaching $650 million. Mercury is also pursuing a federal banking charter to enhance its offerings and financial operations, aiming for public trading rather than acquisition.