Top US Startup Investments in a Slow Week

This week saw a relatively slow pace of large investment deals in the US startup space. While venture capital continues to flow, the total amount invested wasn't as high as in previous weeks. Despite the slower activity, there were notable investment rounds in various tech sectors, including analytics, ticketing, biotech, and climate tech. The largest investment of the week went to Grafana Labs, an analytics company that secured $270 million in a mix of growth equity and a secondary offering.

The Top 10 US Startup Investment Deals

Here are the top 10 US startup investment deals for the week of August 17 to 23, 2024, as recorded by Crunchbase, a database that tracks startup funding rounds and tech industry trends:

• Grafana Labs (Analytics) - $270 million
• TickPick (Ticketing) - $250 million
• Pathalys Pharma (Biotech) - $105 million
• Fortera (Climate) - $85 million
• Story Protocol (Blockchain) - $80 million
• Openwater (Healthcare) - $54 million
• Opkey (Productivity Tools) - $47 million
• XII Medical (Biotech) - $45 million
• Defcon AI (Defense) - $44 million
• AstroForge (Space) - $40 million

Grafana Labs Leads the Way with $270 Million Investment

Grafana Labs, a New York-based company that provides an open-source software platform for monitoring and visualizing data, secured $270 million in a combination of growth equity and a secondary offering. The investment round was led by Lightspeed Venture Partners and valued the company at $6 billion. This investment represents an extension of the company's previous Series D round, which raised $240 million in 2022.

TickPick Secures $250 Million Investment in Ticketing

TickPick, a New York-based ticket marketplace, raised $250 million from Brighton Park Capital. The company has experienced significant growth in recent years, with sales increasing 8x over the past three years. The company's no-fee pricing model has helped it differentiate itself in the competitive ticketing market.

Pathalys Pharma Raises $105 Million for Kidney Disease Treatment

Pathalys Pharma, a Raleigh, North Carolina-based biopharma startup focused on developing treatments for kidney disease, raised $105 million led by TCG Crossover. The company has already raised a total of $266 million since its founding in 2021.

Fortera Secures $85 Million Investment for Low-Carbon Cement

Fortera, a San Jose, California-based startup, raised $85 million in a Series C funding round. The company has developed a method for producing low-carbon cement using existing infrastructure. Fortera plans to use the funds to implement its technology in existing cement manufacturing plants, with the goal of reducing carbon emissions in the industry.

Story Protocol Raises $80 Million to Combat AI-Driven IP Theft

Story Protocol, a San Francisco-based startup, secured $80 million in a Series B funding round to combat intellectual property theft in the age of artificial intelligence. The company's blockchain network allows IP owners to store their IP on the platform and embed terms of use, such as licensing fees, into smart contracts. The goal is to ensure that IP owners are compensated when their work is used by AI models.

Openwater Raises $54 Million for Cellular-Level Disease Treatment

Openwater, a Newark, California-based medical technology company, raised $54 million in a funding round. The company is developing a medical technology system that treats diseases at the cellular level. Openwater's investment brings its total funding to $100 million. The company's investors include Khosla Ventures and Bold Capital Partners.

Opkey Secures $47 Million Investment for Enterprise Resource Planning Software Testing

Opkey, a Dublin, California-based company that develops an AI platform for testing enterprise resource planning software, closed a $47 million Series B funding round. The company has raised $57 million since its founding in 2015.

XII Medical Raises $45 Million for Sleep Apnea Therapies

XII Medical, a Union City, California-based clinical-stage medical company developing therapies for sleep apnea, closed a $45 million Series B funding round. The company has raised $75 million since its founding in 2017.

Defcon AI Secures $44 Million in Seed Funding for Military Logistics Planning

Defcon AI, a McLean, Virginia-based startup that developed an AI-powered decision tool for military logistics planning, raised $44 million in a seed funding round. The company has secured $44 million in its first disclosed funding round.

AstroForge Raises $40 Million for Asteroid Mining

AstroForge, a Huntington Beach, California-based asteroid mining startup, raised $40 million in a Series A funding round. The company has raised $55 million since its founding in 2021.

Global Investment Trends

Outside the US, the largest investment deal of the week went to Borealis Biosciences, a Vancouver-based company developing next-generation RNA medicines. The company launched with a $150 million funding round.

Methodology

This analysis of the week's largest startup investment deals is based on data from Crunchbase. While the database captures most announced funding rounds, there may be a slight delay in reporting some deals.