<?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0" xmlns:itunes="http://www.itunes.com/dtds/podcast-1.0.dtd" xmlns:googleplay="http://www.google.com/schemas/play-podcasts/1.0"><channel><title><![CDATA[PostRound]]></title><description><![CDATA[Data & thoughts on early stage fundraising]]></description><link>https://postround.substack.com</link><image><url>https://substackcdn.com/image/fetch/$s_!9Zpw!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33468acd-2a4a-4ebe-b676-9cc4961f2ed1_264x264.png</url><title>PostRound</title><link>https://postround.substack.com</link></image><generator>Substack</generator><lastBuildDate>Tue, 30 Jun 2026 02:31:59 GMT</lastBuildDate><atom:link href="https://postround.substack.com/feed" rel="self" type="application/rss+xml"/><copyright><![CDATA[Aaron]]></copyright><language><![CDATA[en]]></language><webMaster><![CDATA[postround@substack.com]]></webMaster><itunes:owner><itunes:email><![CDATA[postround@substack.com]]></itunes:email><itunes:name><![CDATA[Aaron Harris]]></itunes:name></itunes:owner><itunes:author><![CDATA[Aaron Harris]]></itunes:author><googleplay:owner><![CDATA[postround@substack.com]]></googleplay:owner><googleplay:email><![CDATA[postround@substack.com]]></googleplay:email><googleplay:author><![CDATA[Aaron Harris]]></googleplay:author><itunes:block><![CDATA[Yes]]></itunes:block><item><title><![CDATA[Series A activity: Week of June 21, 2026]]></title><description><![CDATA[There were 33 Series As in the last week that raised a total of $1.3 billion. The average deal size was $40.6 million while the median was $21.0 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-june-21</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-june-21</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Mon, 29 Jun 2026 14:53:01 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!4Lkn!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d5114ce-da78-4a21-80e3-1d1590bce6a6_1940x584.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!4Lkn!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d5114ce-da78-4a21-80e3-1d1590bce6a6_1940x584.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!4Lkn!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d5114ce-da78-4a21-80e3-1d1590bce6a6_1940x584.png 424w, https://substackcdn.com/image/fetch/$s_!4Lkn!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d5114ce-da78-4a21-80e3-1d1590bce6a6_1940x584.png 848w, https://substackcdn.com/image/fetch/$s_!4Lkn!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d5114ce-da78-4a21-80e3-1d1590bce6a6_1940x584.png 1272w, https://substackcdn.com/image/fetch/$s_!4Lkn!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d5114ce-da78-4a21-80e3-1d1590bce6a6_1940x584.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!4Lkn!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d5114ce-da78-4a21-80e3-1d1590bce6a6_1940x584.png" width="1456" height="438" 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srcset="https://substackcdn.com/image/fetch/$s_!4Lkn!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d5114ce-da78-4a21-80e3-1d1590bce6a6_1940x584.png 424w, https://substackcdn.com/image/fetch/$s_!4Lkn!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d5114ce-da78-4a21-80e3-1d1590bce6a6_1940x584.png 848w, https://substackcdn.com/image/fetch/$s_!4Lkn!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d5114ce-da78-4a21-80e3-1d1590bce6a6_1940x584.png 1272w, https://substackcdn.com/image/fetch/$s_!4Lkn!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7d5114ce-da78-4a21-80e3-1d1590bce6a6_1940x584.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series A Deals</strong></h2><p><strong>Isometric</strong> raised $40 million from AVP on June 22, 2026. Registry for high-quality science-backed carbon removal credits. The CEO is Eamon Jubbawy. Isometric is based in London, United Kingdom. Website: www.isometric.com</p><p><strong>Prosper AI</strong> raised $30 million from Andreessen Horowitz on June 22, 2026. AI agents managing healthcare calls to reduce administrative costs. Prosper AI is based in New York, NY, United States. Website: www.getprosper.ai</p><p><strong>Sea12</strong> raised $25 million from Caffeinated Capital on June 22, 2026. AI knowledge systems for industrial and manufacturing operations. The CEO is Charles Englander. Sea12 is based in New York, NY, United States. Website: www.sea12.co</p><p><strong>Superlight</strong> raised $21 million from Engine Ventures and 2150 on June 22, 2026. Middle-mile commercial EV platform with AI-native production. Superlight is based in London, United Kingdom. Website: www.superlight.auto</p><p><strong>Upscale AI</strong> raised $190 million at a $2 billion valuation from Premji Invest on June 22, 2026. High-performance AI networking company accelerating AI democratization. The CEO is Barun Kar. Upscale AI is based in Santa Clara, CA, United States. Website: www.upscaleai.com</p><p><strong>Astral Systems</strong> raised $30.4 million from Mercia Ventures on June 23, 2026. Transformative fusion technology for health and sustainable energy. The CEO is Talmon Firestone. Astral Systems is based in Bristol, United Kingdom. Website: www.astralsystems.com</p><p><strong>JUPUS</strong> raised $14.8 million from Semapa Next on June 23, 2026. Legal AI secretary streamlining law firm processes. JUPUS is based in Cologne, Germany. Website: www.jupus.de</p><p><strong>JustAI</strong> raised $17 million from Base10 Partners on June 23, 2026. Hyper-personalized content testing platform at scale. The CEO is Neha Mittal. JustAI is based in San Francisco, CA, United States. Website: www.getjust.ai</p><p><strong>Niural</strong> raised $21 million from FOG Ventures, NewView Capital and continued on June 23, 2026. AI-enabled platform transforming PEO and global payroll services. The CEO is Nami Baral. Niural is based in New York, NY, United States. Website: www.niural.com</p><p><strong>Probook</strong> raised $34 million from Andreessen Horowitz and a $6M Seed led by Sequoia Capital on June 23, 2026. AI dispatching software for home services businesses. The CEO is George Eliadis. Probook is based in New York, NY, United States. Website: www.probook.ai</p><p><strong>Tetrix</strong> raised $15 million from White Star Capital and Innovation Endeavors on June 23, 2026. AI-driven enterprise solution for simplifying alternative investment data. Tetrix is based in New York, NY, United States. Website: www.tetrix.co</p><p><strong>Timefold</strong> raised $13 million from Alstin Capital on June 23, 2026. PlanningAI solutions for complex scheduling and routing challenges. The CEO is Maarten Vandenbroucke. Timefold is based in Ghent, Belgium. Website: www.timefold.ai</p><p><strong>Tsuga</strong> raised $35 million from Singular on June 23, 2026. Enterprise-grade observability platform for compliance and cost control. The CEO is Gabriel-James Safar. Tsuga is based in Paris, France. Website: www.tsuga.com</p><p><strong>VARM</strong> raised $20 million from ABN AMRO Sustainable Impact Fund and co-led by GET Fund on June 23, 2026. Infrastructure provider for household insulation and energy efficiency. The CEO is Sebastian Wuerz. VARM is based in Berlin, Germany. Website: www.varm.earth</p><p><strong>Bodycraft</strong> raised $12.7 million from Singularity AMC on June 24, 2026. Women&#8217;s skincare clinic offering hair and beauty services. Bodycraft is based in Bengaluru, India. Website: www.bodycraft.co.in</p><p><strong>Caplight</strong> raised $16 million from BlackRock and Fin Capital on June 24, 2026. Platform for institutional investors to trade private equity derivatives. The CEO is Javier Avalos. Caplight is based in San Francisco, CA, United States. Website: www.caplight.com</p><p><strong>Coval</strong> raised $28 million from Norwest on June 24, 2026. Simulation and evaluation platform for AI agents and assistants. The CEO is Brooke Hopkins. Coval is based in San Francisco, CA, United States. Website: www.coval.dev</p><p><strong>Lama AI</strong> raised $12 million from EJF Ventures on June 24, 2026. AI-driven solutions for business loan portfolio growth and approvals. The CEO is Omri Yacubovich. Lama AI is based in New York, NY, United States. Website: www.lama.ai</p><p><strong>Onyx Odds</strong> raised $20 million at a $220 million valuation from Payward on June 24, 2026. Sports predictions company. The CEO is Leul D.. Onyx Odds is based in New York, NY, United States. Website: www.onyxodds.com</p><p><strong>RunPod</strong> raised $100 million at a $1 billion valuation from Summit Partners on June 24, 2026. Cloud platform for deploying customized AI applications on GPUs. The CEO is Zhen Lu. RunPod is based in Mount Laurel, NJ, United States. Website: www.runpod.io</p><p><strong>Runlayer</strong> raised $30 million from Felicis on June 24, 2026. AI security platform for enterprise-ready model context protocol. The CEO is Andrew Berman. Runlayer is based in New York, NY, United States. Website: www.runlayer.com</p><p><strong>Sopht</strong> raised $8.5 million from Ternel on June 24, 2026. Environmental services platform for decarbonation and IT optimization. The CEO is J&#233;r&#233;mie VEG. Sopht is based in Villeurbanne, France. Website: www.sopht.com/en</p><p><strong>Trovy</strong> raised $15 million from Left Lane Capital on June 24, 2026. Fintech company providing applications, analytics, and financial services. The CEO is TJ Milani. Trovy is based in New York, NY, United States. Website: www.trovy.com</p><p><strong>Almetra</strong> raised $18.5 million from blisce/ on June 25, 2026. Manufacturing intelligence platform using AI and overhead cameras. Almetra is based in Berlin, Germany. Website: www.almetra.ai</p><p><strong>Arca</strong> raised $48.5 million from General Catalyst on June 25, 2026. AI-native wealth management platform with advisor-led financial advice. Arca is based in New York, NY, United States. Website: www.arcawealth.com</p><p><strong>Folio Photonics</strong> raised $8 million from Material Impact and The O.H.I.O. Fund on June 25, 2026. Optical data storage discs with high capacity and low-cost manufacturing. The CEO is Steven Santamaria. Folio Photonics is based in Solon, OH, United States. Website: www.foliophotonics.com</p><p><strong>Hera</strong> raised $27 million from Bain Capital Ventures on June 25, 2026. Aging care platform for elderly parents. The CEO is Jenny Lee. Hera is based in New York, NY, United States. Website: www.hellohera.com</p><p><strong>Nebulock</strong> raised $25 million from FirstMark on June 25, 2026. AI-driven threat hunting platform for security stack optimization. Nebulock is based in Boston, MA, United States. Website: www.nebulock.io</p><p><strong>Netris</strong> raised $15 million from Andreessen Horowitz on June 25, 2026. Cloud-grade network automation and multi-tenancy software. The CEO is Alex Saroyan. Netris is based in Santa Clara, CA, United States. Website: www.netris.io</p><p><strong>Scaled Cognition</strong> raised $100 million from Khosla Ventures on June 25, 2026. Conversational AI platform with hallucination-free agents. Scaled Cognition is based in Amesbury, MA, United States. Website: www.scaledcognition.com</p><p><strong>Upside</strong> raised $20 million from Aquiline and Flare Capital Partners on June 25, 2026. Enhancing quality of life for older adults. The CEO is Jake Rothstein. Upside is based in Fort Lauderdale, FL, United States. Website: www.joinupside.com</p><p><strong>General Intuition</strong> raised $320 million at a $2.3 billion valuation from Khosla Ventures on June 26, 2026. Research lab developing adaptive AI through play and gaming. General Intuition is based in New York, NY, United States. Website: www.generalintuition.com</p><p><strong>GrailPay</strong> raised $10.5 million from MissionOG on June 26, 2026. Embedded machine-learning risk analytics for secure ACH payments. The CEO is William Messina. GrailPay is based in New York, NY, United States. Website: www.grailpay.com<br></p><p><strong>Three Most Interesting Deals</strong></p><p><strong>General Intuition ($320M from Khosla Ventures): </strong>General Intuition is building AI systems that learn by playing games, treating gameplay as a training ground for adaptive behavior rather than static benchmarks. The lab&#8217;s focus on &#8220;learning to learn&#8221; through interactive environments taps a clear tailwind: frontier models are running out of easy gains from more web text and need richer, feedback-driven experience. Going big early also hints at ambition to build proprietary game-like worlds, tooling, and evaluation suites that can become moats in a space where data quality is becoming the bottleneck. Khosla Ventures leading a massive $320M Series A at a $2.3B valuation puts General Intuition in the small club of labs trying to turn reinforcement learning and simulation into the next scaling path.</p><p><strong>RunPod ($100M from Summit Partners): </strong>RunPod runs a GPU cloud that lets teams spin up and deploy customized AI workloads without having to stitch together their own infrastructure. It&#8217;s positioned for the next wave of AI builders who need predictable performance and cost control for training, fine-tuning, and inference&#8212;especially as more apps move from &#8220;demo&#8221; to production. The product pitch is practical: fast access to GPUs, simpler deployment paths, and flexibility for teams that don&#8217;t fit neatly into hyperscaler defaults. Summit Partners led a $100M Series A at a $1.0B valuation, underscoring how much value is accruing to the picks-and-shovels layer as GPU demand stays structurally tight.</p><p><strong>Isometric ($40M from AVP): </strong>Isometric operates a registry for carbon removal credits, focused on making credits auditable, science-backed, and easier for buyers to trust. As corporate procurement shifts from vague offsets to durable removal, the bottleneck is increasingly verification and standardization&#8212;exactly where registries can shape what &#8220;high quality&#8221; means. By emphasizing rigorous measurement and transparent rules, Isometric is trying to become the default rails for a market that still suffers from inconsistent methodologies and reputational risk. AVP led a $40M Series A, a notable signal that infrastructure for carbon markets is maturing from pilot programs into higher-stakes procurement.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series A activity: Week of June 14, 2026]]></title><description><![CDATA[There were 25 Series As in the last week that raised a total of $855.2 million. The average deal size was $34.2 million while the median was $22.0 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-june-14</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-june-14</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Mon, 22 Jun 2026 13:23:26 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!le-A!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6bd6d7a8-a4c1-4986-ae86-508ef28740db_1764x534.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!le-A!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6bd6d7a8-a4c1-4986-ae86-508ef28740db_1764x534.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!le-A!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6bd6d7a8-a4c1-4986-ae86-508ef28740db_1764x534.png 424w, https://substackcdn.com/image/fetch/$s_!le-A!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6bd6d7a8-a4c1-4986-ae86-508ef28740db_1764x534.png 848w, https://substackcdn.com/image/fetch/$s_!le-A!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6bd6d7a8-a4c1-4986-ae86-508ef28740db_1764x534.png 1272w, https://substackcdn.com/image/fetch/$s_!le-A!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6bd6d7a8-a4c1-4986-ae86-508ef28740db_1764x534.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!le-A!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6bd6d7a8-a4c1-4986-ae86-508ef28740db_1764x534.png" width="1456" height="441" 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srcset="https://substackcdn.com/image/fetch/$s_!le-A!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6bd6d7a8-a4c1-4986-ae86-508ef28740db_1764x534.png 424w, https://substackcdn.com/image/fetch/$s_!le-A!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6bd6d7a8-a4c1-4986-ae86-508ef28740db_1764x534.png 848w, https://substackcdn.com/image/fetch/$s_!le-A!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6bd6d7a8-a4c1-4986-ae86-508ef28740db_1764x534.png 1272w, https://substackcdn.com/image/fetch/$s_!le-A!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6bd6d7a8-a4c1-4986-ae86-508ef28740db_1764x534.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series A Deals</strong></h2><p><strong>Arcade.dev</strong> raised $60 million from SYN Ventures on June 15, 2026. AI tool-calling platform for seamless integrations and task automation. The CEO is Alex Salazar. Arcade.dev is based in San Francisco, CA, United States. Website: www.arcade.dev</p><p><strong>Orbio</strong> raised $21 million from Visionaries, Dawn Capital, Plus Partners, Enzo Ventures, Endeavor Catalyst, 2100 Ventures, and GP Compas on June 15, 2026. AI agent platform that automates hiring, onboarding, and day-to-day management of frontline workers. Orbio is based in Madrid, Spain. Website: www.orbio.work</p><p><strong>Podium Automation</strong> raised $18 million from Construct Capital on June 15, 2026. No-code industrial automation platform for manufacturing workflows. The CEO is Jamie Niu Serota. Podium Automation is based in Brooklyn, NY, United States. Website: www.podiumautomation.com</p><p><strong>CNTXT AI</strong> raised $60 million from AI71 and BlueFive Capital on June 16, 2026. AI annotation company with the world&#8217;s largest Arabic digital library. The CEO is Mohammad Abu Sheikh. CNTXT AI is based in Abu Dhabi, United Arab Emirates. Website: www.cntxt.tech</p><p><strong>Foundation Alloy</strong> raised $22 million from Voyager Ventures and participated by Trust Ventures, Yamaha Motors, America&#8217;s Frontier Fund, Overlap Holdings, Material Impact, Engine Ventures, El Cap, and Kanematsu Corporation on June 16, 2026. Advanced materials technology for optimized additive manufacturing alloys. The CEO is Jake Guglin. Foundation Alloy is based in Cambridge, MA, United States. Website: www.foundationalloy.com</p><p><strong>Hydra Host</strong> raised $100 million at a $800 million valuation from Kindred Ventures on June 16, 2026. Marketplace for compute aggregating independent data center resources. The CEO is Aaron Ginn. Hydra Host is based in Miami, FL, United States. Website: www.hydrahost.com</p><p><strong>Lightbringer</strong> raised $10 million from 6 Degrees Capital and Newion on June 16, 2026. Generative AI tools for efficient patent application preparation. The CEO is Dominic Davies. Lightbringer is based in Lund, Sweden. Website: www.lightbringer.com</p><p><strong>Limitless Labs</strong> raised $20 million from Dell Technologies Capital and Square Peg on June 16, 2026. AI-powered CNC machining optimization software. The CEO is David Priev. Limitless Labs is based in Tel Aviv-yafo, Israel. Website: www.limitless-labs.ai</p><p><strong>Rocapine</strong> raised $13 million from Educapital on June 16, 2026. AI-native venture studio for mobile digital health apps. The CEO is Stanislas Marchand. Rocapine is based in Paris, France. Website: www.rocapi.ne</p><p><strong>Conduct</strong> raised $60 million from Index Ventures and Iconiq on June 17, 2026. AI solutions for solving complex IT business challenges. Conduct is based in London, United Kingdom. Website: www.conduct.ai</p><p><strong>Convey</strong> raised $38 million from Andreessen Horowitz on June 17, 2026. AI workforce platform for building digital teammates without code. Convey is based in San Francisco, CA, United States. Website: www.convey.dev</p><p><strong>Everlab</strong> raised $45.9 million from AirTree Ventures on June 17, 2026. Infrastructure for preventative health solutions. The CEO is Marc Hermann. Everlab is based in Sydney, Australia. Website: www.everlab.com.au</p><p><strong>Flagright</strong> raised $12.5 million from Infinity Ventures on June 17, 2026. Real-time fraud detection and anti-money laundering solutions. The CEO is Baran &#214;zkan. Flagright is based in San Francisco, CA, United States. Website: www.flagright.com</p><p><strong>Solius</strong> raised $23 million from Lauder Partners on June 17, 2026. Technology harnessing sunlight to boost vitamin D production safely. The CEO is Bob Wise. Solius is based in Bainbridge Island, WA, United States. Website: www.solius.com</p><p><strong>Trace Finance</strong> raised $32 million from CoinFund on June 17, 2026. Empowering companies with FX and cross-border payment solutions. The CEO is Bernardo Brites. Trace Finance is based in S&#227;o Paulo, Brazil. Website: www.tracefinance.com</p><p><strong>Vixtra</strong> raised $8.8 million from Valor Capital on June 17, 2026. Payment method and credit provider for Latin American importers. Vixtra is based in S&#227;o Paulo, Brazil. Website: www.vixtra.com</p><p><strong>Andera</strong> raised $37 million from Lightspeed Venture Partners on June 18, 2026. AI-powered SOX control testing automation platform. Andera is based in San Francisco, CA, United States. Website: www.andera.ai</p><p><strong>Comand AI</strong> raised $36.8 million from Blossom Capital on June 18, 2026. AI-driven command and control software for defense operations. The CEO is Lo&#239;c Mougeolle. Comand AI is based in Montr&#233;al, Canada. Website: www.comand.ai/en</p><p><strong>Cuprum Metals</strong> raised $19.4 million from the Lundin Family Office on June 18, 2026. Water-based copper leaching technology for ore and tailings recovery. Cuprum Metals is based in Boulder City, NV, United States. Website: www.cuprummetals.com</p><p><strong>El Dorado</strong> raised $9 million from Paradigm on June 18, 2026. Stablecoin-powered payments SuperApp for Latin America. El Dorado is based in Bogot&#225;, Colombia. Website: www.eldorado.io/en</p><p><strong>HUD</strong> raised $16 million from Standard Capital, Y Combinator, ExceptionalCap, Liquid2V, TwentyTwoVC, and angel investors on June 18, 2026. Evaluations platform for computer use agents across environments. The CEO is Jay Ram. HUD is based in San Francisco, CA, United States. Website: www.hud.ai</p><p><strong>Karta</strong> raised $140 million from Galaxy Ventures and CIM on June 18, 2026. Contactless metal credit cards for Latin American residents. The CEO is Freddy Juez. Karta is based in Miami, FL, United States. Website: www.conkarta.com</p><p><strong>Kvasir Technologies</strong> raised $11.5 million from European Energy and on June 18, 2026. Innovative method for producing eco-friendly fuel for tough industries. Kvasir Technologies is based in S&#248;borg, Denmark. Website: www.kvasirtechnologies.com</p><p><strong>Telepatia AI</strong> raised $33 million from a16z on June 18, 2026. Health tech platform using AI to support medical professionals. Telepatia AI is based in S&#227;o Paulo, Brazil. Website: www.telepatia.ai</p><p><strong>Range Labs</strong> raised $8.3 million on June 19, 2026. Blockchain security platform for rollups and enterprise adoption. The CEO is Andres Monteoliva. Range Labs is based in Cham, Switzerland. Website: www.range.org<br></p><p><strong>Three Most Interesting Deals</strong></p><p><strong>Hydra Host ($100M from Kindred Ventures): </strong>Hydra Host runs a marketplace that stitches together spare capacity from independent data centers into on-demand compute. As AI workloads push companies to hunt for GPUs outside the hyperscalers, a broker that can aggregate fragmented supply and standardize provisioning is suddenly practical, not theoretical. The interesting momentum is in the supply-side buildout: onboarding many small operators quickly can turn &#8220;hard to buy&#8221; regional capacity into something developers can consume like a single pool. Hydra Host&#8217;s $100M Series A led by Kindred Ventures suggests they&#8217;re gearing up for deeper infrastructure work&#8212;scheduling, billing, reliability guarantees&#8212;rather than staying a simple listings site.</p><p><strong>Comand AI ($36.8M from Blossom Capital): </strong>Comand AI builds AI-assisted command-and-control software that helps defense teams fuse data, plan missions, and coordinate operations faster. Defense orgs are actively modernizing away from brittle, bespoke systems, and AI that can summarize feeds, surface anomalies, and propose courses of action fits that procurement wave. What&#8217;s notable here is the product&#8217;s position in the workflow: if it becomes the daily operations console, it can spread across units and allied partners as deployments scale. The $36.8M round led by Blossom Capital indicates Comand is moving from pilots toward broader fielding, where reliability, auditability, and human-in-the-loop controls become the real moat.</p><p><strong>Foundation Alloy ($22M from Voyager Ventures): </strong>Foundation Alloy develops new metal alloys and process know-how designed specifically to print better parts with additive manufacturing. Instead of asking manufacturers to compromise with legacy alloys, they&#8217;re tuning compositions for printability, strength, and repeatability&#8212;exactly what&#8217;s needed to move 3D printing from prototypes into production. The momentum angle is the partner mix: participation from Yamaha Motors, materials-focused funds, and industrial backers hints at real evaluation paths in automotive and industrial supply chains. A $22M raise co-led by Voyager Ventures suggests they&#8217;re scaling from lab recipes to qualification, certification, and manufacturing-ready material supply.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series A activity: Week of June 7, 2026]]></title><description><![CDATA[There were 30 Series As in the last week that raised a total of $777 million. The average deal size was $25.9 million while the median was $23.6 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-june-7</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-june-7</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Mon, 15 Jun 2026 11:32:05 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!WHbQ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6b54c841-a1f0-468b-b020-b12c259fda33_1752x538.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!WHbQ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6b54c841-a1f0-468b-b020-b12c259fda33_1752x538.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!WHbQ!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6b54c841-a1f0-468b-b020-b12c259fda33_1752x538.png 424w, https://substackcdn.com/image/fetch/$s_!WHbQ!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6b54c841-a1f0-468b-b020-b12c259fda33_1752x538.png 848w, https://substackcdn.com/image/fetch/$s_!WHbQ!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6b54c841-a1f0-468b-b020-b12c259fda33_1752x538.png 1272w, https://substackcdn.com/image/fetch/$s_!WHbQ!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6b54c841-a1f0-468b-b020-b12c259fda33_1752x538.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!WHbQ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6b54c841-a1f0-468b-b020-b12c259fda33_1752x538.png" width="1456" height="447" 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srcset="https://substackcdn.com/image/fetch/$s_!WHbQ!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6b54c841-a1f0-468b-b020-b12c259fda33_1752x538.png 424w, https://substackcdn.com/image/fetch/$s_!WHbQ!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6b54c841-a1f0-468b-b020-b12c259fda33_1752x538.png 848w, https://substackcdn.com/image/fetch/$s_!WHbQ!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6b54c841-a1f0-468b-b020-b12c259fda33_1752x538.png 1272w, https://substackcdn.com/image/fetch/$s_!WHbQ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6b54c841-a1f0-468b-b020-b12c259fda33_1752x538.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series A Deals</strong></h2><p><strong>Blnk</strong> raised $12.5 million from Algebra Ventures on June 8, 2026. Fintech firm offering lending, financing, and e-commerce services. The CEO is Amr Sultan. Blnk is based in G&#238;za, Egypt. Website: www.blnk.ai</p><p><strong>EDGE Markets</strong> raised $29.2 million from CoinFund on June 8, 2026. Responsible sports betting tools and ecosystem growth. The CEO is Seni Thomas. EDGE Markets is based in San Diego, CA, United States. Website: www.edgemarkets.io</p><p><strong>Finovox</strong> raised $9.4 million from Swiss fintech fund TX Ventures on June 8, 2026. False document detection and fraud investigation tools. Finovox is based in Paris, France. Website: www.finovox.com</p><p><strong>Folio Photonics</strong> raised $8 million from Material Impact and The O.H.I.O. Fund on June 8, 2026. Optical data storage discs with high capacity and low-cost manufacturing. The CEO is Steven Santamaria. Folio Photonics is based in Solon, OH, United States. Website: www.foliophotonics.com</p><p><strong>NewOrbit</strong> raised $18.5 million from Voyager Ventures on June 8, 2026. Satellite manufacturing for ultra-low orbit imaging and telecom. NewOrbit is based in Reading, United Kingdom. Website: www.neworbit.space</p><p><strong>Alta Ares</strong> raised $57.8 million from Air Street Capital on June 9, 2026. Data integration surveillance service using drone imaging. The CEO is Hadrien C.. Alta Ares is based in Romainville, France. Website: www.altaares.com</p><p><strong>Billables AI</strong> raised $10.2 million from Avenue Growth Partners on June 9, 2026. AI platform streamlining billing for professional services. Billables AI is based in San Francisco, CA, United States. Website: www.billables.ai</p><p><strong>Evotrex</strong> raised $30 million on June 9, 2026. Indoor localization solutions using accessible sensors for accurate tracking. The CEO is Andras Cser&#233;nyi. Evotrex is based in Kecskem&#233;t, Hungary. Website: www.evotrex.com</p><p><strong>Infinity Constellation</strong> raised $24 million from Rafferty Ventures, Oxford Funds, Freestyle VC, Backed VC, BY Ventures, and Millennial Ventures on June 9, 2026. AI-focused startup incubator for service-based businesses. The CEO is Brennan Pothetes. Infinity Constellation is based in Las Vegas, NV, United States. Website: www.infinityconstellation.com</p><p><strong>Sandstone</strong> raised $30 million from Lightspeed Venture Partners on June 9, 2026. Single operating system for corporate legal departments using AI. The CEO is Nick Fleisher. Sandstone is based in Cape Town, South Africa. Website: www.sandstone.ai</p><p><strong>Vinyl Equity</strong> raised $20 million from Jump Capital on June 9, 2026. Cloud-native transfer agency platform for public companies. The CEO is Rob Schoder, Jr. Vinyl Equity is based in Chicago, IL, United States. Website: www.vinylequity.com</p><p><strong>01Health</strong> raised $15 million from Gresham House Ventures on June 10, 2026. Platform for delivering specialist care through local clinics. 01Health is based in London, United Kingdom. Website: www.01health.ai</p><p><strong>Aryon Security</strong> raised $29 million from Brightmind Partners on June 10, 2026. Proactive cloud security startup focused on risk prevention. The CEO is Ron Arbel. Aryon Security is based in Tel Aviv, Israel. Website: www.aryon.security</p><p><strong>Capsa AI</strong> raised $18 million from TX Ventures and Pivot Investment Partners on June 10, 2026. AI-driven investment decision support for private equity firms. The CEO is Danyal &#214;zd&#252;zenciler. Capsa AI is based in London, United Kingdom. Website: www.capsa.ai</p><p><strong>Eclipse</strong> raised $23.1 million from BNP Paribas and Noria on June 10, 2026. Promotes renewable energy deployment with storage solutions. The CEO is Augustin Derville. Eclipse is based in Paris, France. Website: www.eclipse-flow.com</p><p><strong>Jedify</strong> raised $24 million from Norwest on June 10, 2026. AI-driven conversational data analysis platform. The CEO is Assaf Henkin. Jedify is based in Brooklyn, NY, United States. Website: www.jedify.com</p><p><strong>Klinic</strong> raised $24 million from dozens of investors on June 10, 2026. Practice-in-a-box and marketplace for fast affordable treatment. The CEO is Avish Bhama. Klinic is based in Seattle, WA, United States. Website: www.klinic.com</p><p><strong>Maneva</strong> raised $27 million from U.S. Venture Partners on June 10, 2026. AI-powered manufacturing intelligence and orchestration platform. Maneva is based in Palo Alto, CA, United States. Website: www.maneva.ai</p><p><strong>Minerva</strong> raised $20 million from The General Partnership, 8VC, Lingotto Innovation, Topology Ventures, NBA Investments and others on June 10, 2026. Customer behavior analytics platform for go-to-market teams. The CEO is Jackson Engles. Minerva is based in New York, NY, United States. Website: www.minerva.io</p><p><strong>Pi Security</strong> raised $25 million from Third Point Ventures on June 10, 2026. Cybersecurity startup. Pi Security is based in San Francisco, CA, United States. Website: www.pi.security</p><p><strong>Poetic</strong> raised $50 million at a $500 million valuation from Kleiner Perkins on June 10, 2026. Plain-English automation tool for web tasks without integrations. Poetic is based in Manhattan Beach, CA, United States. Website: www.poetic.com</p><p><strong>SWARM Engineering</strong> raised $10 million from S2G Investments and AgRogue Growth Partners on June 10, 2026. SaaS platform using cognitive computing for food supply chain logistics. The CEO is Anthony Howcroft. SWARM Engineering is based in Irvine, CA, United States. Website: www.swarm.engineering</p><p><strong>Dentroid</strong> raised $32 million at a $265 million valuation from Septodont and Michael Gregg on June 11, 2026. Light-based dental pain relief device developer. Dentroid is based in Canberra, Australia. Website: www.dentroid.com</p><p><strong>Endurance Energy</strong> raised $54 million from Founders Fund on June 11, 2026. Undersea geothermal energy project developer. Endurance Energy is based in Seattle, WA, United States. Website: www.enduranceenergy.com</p><p><strong>Manam Chocolate</strong> raised $9 million from Omnivore on June 11, 2026. Chocolate bars and bonbons producer. Manam Chocolate is based in Hyderabad, India. Website: www.manamchocolate.com</p><p><strong>Mendo</strong> raised $13.8 million from Ventech and Educapital on June 11, 2026. Employee training add-in for skill development and learning. Mendo is based in Paris, France. Website: www.mendo.cloud</p><p><strong>NS/TX Industries</strong> raised $10.5 million from Inter IKEA Development BV and Lever VC on June 11, 2026. Plant-based seafood mimicking traditional seafood&#8217;s texture and flavor. NS/TX Industries is based in Toronto, Canada. Website: www.newschoolfoods.co</p><p><strong>Neion Bio</strong> raised $23 million from Caffeinated Capital on June 11, 2026. Biologic medicines developed through biomanufacturing using eggs. The CEO is Demetrios Kellari. Neion Bio is based in New York, NY, United States. Website: www.neionbio.com</p><p><strong>Theker</strong> raised $85 million from CRV on June 11, 2026. Intelligent general-purpose robots for waste management and logistics. Theker is based in Barcelona, Spain. Website: www.theker.eu</p><p><strong>Turnout</strong> raised $35 million at a $400 million valuation from HighPost Capital on June 11, 2026. Modern consumer advocacy platform. The CEO is Itai Hirsch. Turnout is based in Del Mar, CA, United States. Website: www.turnout.co<br></p><p><strong>Three Most Interesting Deals</strong></p><p><strong>Theker ($85M from CRV): </strong>Theker builds general-purpose robots that pick, sort, and move material in waste facilities and logistics yards&#8212;the kind of dirty, variable environment where traditional automation breaks. The interesting bit is the &#8220;general-purpose&#8221; claim: one robot platform that can be re-tasked across lines and sites is a much easier sell to operators than single-task machines that get stranded when workflows change. With labor shortages, safety requirements, and tighter recycling rules pushing plants to modernize, robots that can handle mixed streams and inconsistent objects have a clear tailwind. CRV leading an $85M Series A suggests Theker is graduating from pilots into scaled deployments and manufacturing.</p><p><strong>Poetic ($50M from Kleiner Perkins): </strong>Poetic is a plain-English automation tool that drives web tasks directly&#8212;logging into sites, clicking through flows, and completing work&#8212;without requiring APIs or prebuilt integrations. That makes it immediately useful for the long tail of internal processes that live in vendor portals and legacy web apps where &#8220;just use Zapier&#8221; doesn&#8217;t apply. If it&#8217;s reliable, it turns every web UI into an automatable surface area, which is why teams in ops, finance, and support tend to spread it organically once a few workflows stick. Kleiner Perkins led a $50M Series A at a $500M valuation, a sign Poetic is hitting real adoption rather than being a demo-friendly agent.</p><p><strong>NewOrbit ($18.5M from Voyager Ventures): </strong>NewOrbit manufactures satellites designed to operate in ultra-low Earth orbit, where you can get sharper imagery and lower-latency links but you also fight atmospheric drag and faster hardware turnover. The appeal is practical: if NewOrbit can build buses that survive and are cheap to refresh, it fits the new cadence of imaging and telecom constellations that want frequent upgrades instead of decade-long missions. Ultra-low orbit is also becoming more workable as propulsion, materials, and mission ops tooling improve, opening a window for purpose-built manufacturers rather than bespoke aerospace shops. Voyager Ventures leading an $18.5M Series A suggests NewOrbit has moved beyond concept into a repeatable build pipeline and early mission demand.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series A activity: Week of May 31, 2026]]></title><description><![CDATA[There were 29 Series As in the last week that raised a total of $887.4 million. The average deal size was $30.6 million while the median was $20.0 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-may-31</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-may-31</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Mon, 08 Jun 2026 10:40:26 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!qvAj!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faaae1fad-107e-40d8-9b87-c4711fcf6eb1_1754x530.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!qvAj!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faaae1fad-107e-40d8-9b87-c4711fcf6eb1_1754x530.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!qvAj!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faaae1fad-107e-40d8-9b87-c4711fcf6eb1_1754x530.png 424w, https://substackcdn.com/image/fetch/$s_!qvAj!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faaae1fad-107e-40d8-9b87-c4711fcf6eb1_1754x530.png 848w, https://substackcdn.com/image/fetch/$s_!qvAj!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faaae1fad-107e-40d8-9b87-c4711fcf6eb1_1754x530.png 1272w, https://substackcdn.com/image/fetch/$s_!qvAj!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faaae1fad-107e-40d8-9b87-c4711fcf6eb1_1754x530.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!qvAj!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faaae1fad-107e-40d8-9b87-c4711fcf6eb1_1754x530.png" width="1456" height="440" 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srcset="https://substackcdn.com/image/fetch/$s_!qvAj!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faaae1fad-107e-40d8-9b87-c4711fcf6eb1_1754x530.png 424w, https://substackcdn.com/image/fetch/$s_!qvAj!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faaae1fad-107e-40d8-9b87-c4711fcf6eb1_1754x530.png 848w, https://substackcdn.com/image/fetch/$s_!qvAj!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faaae1fad-107e-40d8-9b87-c4711fcf6eb1_1754x530.png 1272w, https://substackcdn.com/image/fetch/$s_!qvAj!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Faaae1fad-107e-40d8-9b87-c4711fcf6eb1_1754x530.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series A Deals</strong></h2><p><strong>Gradient Labs</strong> raised $13 million from Octopus Ventures and CommerzVentures on June 1, 2026. Autonomous AI agents for automating financial customer support. The CEO is Dimitri Masin. Gradient Labs is based in London, United Kingdom. Website: www.gradient-labs.ai</p><p><strong>Mecka AI</strong> raised $35 million from Framework Ventures on June 1, 2026. Human motion data platform for training embodied AI models. Mecka AI is based in New York, NY, United States. Website: www.mecka.ai</p><p><strong>Sekai</strong> raised $20 million from Khosla Ventures and Connect Ventures on June 1, 2026. AI-powered platform for creating immersive, interactive stories. Sekai is based in Sunnyvale, CA, United States. Website: www.joinsek.ai</p><p><strong>Adaptive Innovations</strong> raised $50 million from Felicis and Bain Capital Ventures on June 2, 2026. AI-native home healthcare operations platform. Adaptive Innovations is based in New York, NY, United States. Website: www.adaptive.co</p><p><strong>Alitheon</strong> raised $8 million from Emerald Technology Ventures on June 2, 2026. Machine vision software for authenticating and tracing goods. The CEO is Roei Ganzarski. Alitheon is based in Bellevue, WA, United States. Website: www.alitheon.com</p><p><strong>Board</strong> raised $20 million from Union Square Ventures on June 2, 2026. Tabletop gaming console blending board and video game experiences. Board is based in New York, NY, United States. Website: www.board.fun</p><p><strong>Endra</strong> raised $50 million from Andreessen Horowitz on June 2, 2026. AI-powered platform for automating MEP system design and documentation. The CEO is Niklas Lindgren. Endra is based in &#214;stermalm, Sweden. Website: www.endra.ai</p><p><strong>IMU Biosciences</strong> raised $38.3 million from IQ Capital and Molten Ventures on June 2, 2026. Discovery engine mapping the immune system for precision medicine. The CEO is John Baker. IMU Biosciences is based in London, United Kingdom. Website: www.imubiosciences.com</p><p><strong>Ilant Health</strong> raised $15 million from Cornucopian Capital on June 2, 2026. Obesity treatment and weight management services. The CEO is Elina Onitskansky. Ilant Health is based in New York, NY, United States. Website: www.ilanthealth.com</p><p><strong>Layup Parts</strong> raised $42 million from Marlinspike on June 2, 2026. Composite parts manufacturer with fast shipping and tooling solutions. The CEO is Zack Eakin. Layup Parts is based in Huntington Beach, CA, United States. Website: www.layupparts.com</p><p><strong>Mindverse</strong> raised $50 million from Meituan on June 2, 2026. Developer of agent-native AI models and operator of Macaron, a consumer life-agent app with about 2 million users. Mindverse is based in Singapore. Website: www.mindverse.ai</p><p><strong>Novellia</strong> raised $18 million from Spark Capital on June 2, 2026. AI-powered personal health records management platform. The CEO is Shashi Shankar. Novellia is based in New York, NY, United States. Website: www.novellia.com</p><p><strong>Oolka</strong> raised $14 million at a $76.8 million valuation from Accel on June 2, 2026. Credit-building website connecting lenders and borrowers. The CEO is Utkrishta Kumar (UK). Oolka is based in Bangalore, India. Website: www.oolka.in</p><p><strong>Arpio</strong> raised $15 million from S3 Ventures and Paladin Capital Group on June 3, 2026. Downtime protection and recovery for AWS applications. The CEO is Doug Neumann. Arpio is based in Durham, NC, United States. Website: www.arpio.io</p><p><strong>FLOQ</strong> raised $11 million on June 3, 2026. Cryptocurrency investment platform for buying and trading digital assets. The CEO is Yudhono Rawis. FLOQ is based in Jakarta, Indonesia. Website: www.floq.co.id</p><p><strong>Flok Health</strong> raised $12.5 million from Albion VC on June 3, 2026. AI-operated digital physiotherapy platform delivering MSK care pathways. Flok Health is based in Cambridge, United Kingdom. Website: www.flok.health</p><p><strong>Freshflow</strong> raised $10 million from Reimann Investors on June 3, 2026. AI-driven technology for food supply chain and reducing waste. Freshflow is based in Berlin, Germany. Website: www.freshflow.ai</p><p><strong>GigFinesse</strong> raised $15 million from Bessemer Venture Partners, NJME Investments, NYU Innovation Venture Fund, Cosmic Venture Partners, and the co-founders of Resy and Zola on June 3, 2026. Platform connecting artists and venues for streamlined booking. The CEO is Mir Hwang. GigFinesse is based in New York, NY, United States. Website: www.gigfinesse.com</p><p><strong>Gigaton</strong> raised $26 million from Plural on June 3, 2026. AI-driven industrial control platform for plant optimization. Gigaton is based in London, United Kingdom. Website: www.gigaton.co</p><p><strong>Lassie</strong> raised $35 million at a $250 million valuation from Andreessen Horowitz on June 3, 2026. Autonomous software agents for administrative workflow automation. Lassie is based in San Francisco, CA, United States. Website: www.lassie.ai</p><p><strong>Quobly</strong> raised $133.6 million from Bpifrance, SEALSQ and STMicroelectronics on June 3, 2026. Universal large-scale quantum computer using semiconductor processes. Quobly is based in Grenoble, France. Website: www.quobly.io</p><p><strong>Terra AI</strong> raised $20 million from Khosla Ventures on June 3, 2026. AI platform optimizing natural resource projects for efficiency and cost. The CEO is John Mern, PhD. Terra AI is based in Palo Alto, CA, United States. Website: www.terraai.com</p><p><strong>Uncover</strong> raised $16 million from Cloud9 Capital on June 3, 2026. SaaS platform streamlining media and harnessing marketing data. Uncover is based in S&#227;o Paulo, Brazil. Website: www.uncover.co</p><p><strong>Aippy</strong> raised $20 million at a $250 million valuation from Glowill Capital on June 4, 2026. AI game creation and remix community. Aippy is based in Singapore. Website: www.aippy.ai</p><p><strong>Airspeed</strong> raised $20 million from DN Capital on June 4, 2026. AI execution layer for revenue teams. The CEO is Adam Liska. Airspeed is based in London, United Kingdom. Website: www.goairspeed.com</p><p><strong>Collate</strong> raised $95 million at a $1 billion valuation from Redpoint Ventures on June 4, 2026. AI documentation platform for life sciences companies. The CEO is Surbhi Sarna. Collate is based in San Francisco, CA, United States. Website: www.collate.com</p><p><strong>Scotch</strong> raised $20 million from VMG Partners on June 4, 2026. Smart inventory software for liquor retailers. The CEO is Jake Bolling. Scotch is based in Denver, CO, United States. Website: www.scotchpos.com</p><p><strong>Town</strong> raised $55 million from Andreessen Horowitz on June 4, 2026. Personal AI that acts on your behalf across work apps. The CEO is Jean-Denis Greze. Town is based in San Francisco, CA, United States. Website: www.town.com</p><p><strong>TrueFan AI</strong> raised $10 million at a $40 million valuation from Baring Private Equity Partners India and Z3 Partners on June 4, 2026. AI video platform for enterprise marketing at scale. TrueFan AI is based in Gurgaon, India. Website: www.truefan.ai<br></p><p><strong>Three Most Interesting Deals</strong></p><p><strong>Quobly ($133.6M from Bpifrance, SEALSQ and STMicroelectronics): </strong>Quobly is building a universal, large-scale quantum computer by using standard semiconductor manufacturing methods instead of bespoke lab-style hardware. If it works, that choice could make scaling less about artisanal physics and more about repeatable process control, yield, and packaging&#8212;things the chip industry already knows how to do. The company&#8217;s momentum is tightly tied to its industrial alignment: backing from Bpifrance plus participation from STMicroelectronics and SEALSQ suggests a path that&#8217;s designed to be fabricated, tested, and iterated like real silicon. A $133.6M Series A at this stage underscores how capital-intensive the roadmap is, but also how serious Quobly is about moving from prototypes to manufacturable systems.</p><p><strong>Mindverse ($50M from Meituan): </strong>Mindverse develops agent-native AI models and runs Macaron, a consumer &#8220;life-agent&#8221; app that already has about 2 million users. That user base gives them something most agent startups don&#8217;t have: real-world feedback loops on what people actually delegate, where agents break, and what drives retention. The interesting angle is the vertical integration&#8212;models plus a high-usage consumer surface&#8212;so improvements can ship quickly into a product instead of waiting for enterprise procurement cycles. Meituan leading a $50M Series A is notable because it&#8217;s an operator with deep consumer services DNA, which could accelerate distribution and practical agent behaviors around everyday tasks.</p><p><strong>Endra ($50M from Andreessen Horowitz): </strong>Endra automates MEP (mechanical, electrical, plumbing) system design and documentation&#8212;work that&#8217;s notoriously repetitive, coordination-heavy, and a major source of construction change orders. By turning drawings, schedules, and compliance docs into an AI-assisted pipeline, it targets a painful bottleneck where even small efficiency gains translate into faster permitting and fewer field mistakes. The timing is good: design teams are under pressure to deliver more projects with the same headcount, and MEP complexity is rising with electrification and tighter energy codes. Andreessen Horowitz leading a $50M Series A puts a spotlight on AEC automation as a serious software wedge, not just another &#8220;AI for productivity&#8221; tool.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series B activity: May 2026]]></title><description><![CDATA[There were 61 Series Bs in the last month that raised a total of $6.6 billion. The average deal size was $108.6 million while the median was $50.0 million.]]></description><link>https://postround.substack.com/p/series-b-activity-may-2026</link><guid isPermaLink="false">https://postround.substack.com/p/series-b-activity-may-2026</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Tue, 02 Jun 2026 12:10:53 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!7h3U!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F766c2c90-bb4b-424a-a819-ab1371fabacd_1756x530.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series B deals done worldwide (ex-China) where amount raised is greater than $15M and the company is not focused on therapeutics.</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!7h3U!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F766c2c90-bb4b-424a-a819-ab1371fabacd_1756x530.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!7h3U!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F766c2c90-bb4b-424a-a819-ab1371fabacd_1756x530.png 424w, https://substackcdn.com/image/fetch/$s_!7h3U!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F766c2c90-bb4b-424a-a819-ab1371fabacd_1756x530.png 848w, https://substackcdn.com/image/fetch/$s_!7h3U!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F766c2c90-bb4b-424a-a819-ab1371fabacd_1756x530.png 1272w, https://substackcdn.com/image/fetch/$s_!7h3U!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F766c2c90-bb4b-424a-a819-ab1371fabacd_1756x530.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!7h3U!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F766c2c90-bb4b-424a-a819-ab1371fabacd_1756x530.png" width="1456" height="439" 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srcset="https://substackcdn.com/image/fetch/$s_!7h3U!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F766c2c90-bb4b-424a-a819-ab1371fabacd_1756x530.png 424w, https://substackcdn.com/image/fetch/$s_!7h3U!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F766c2c90-bb4b-424a-a819-ab1371fabacd_1756x530.png 848w, https://substackcdn.com/image/fetch/$s_!7h3U!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F766c2c90-bb4b-424a-a819-ab1371fabacd_1756x530.png 1272w, https://substackcdn.com/image/fetch/$s_!7h3U!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F766c2c90-bb4b-424a-a819-ab1371fabacd_1756x530.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series B Deals</strong></h2><p><strong>Terra CO2 Technologies</strong> raised $22 million on May 2, 2026. Low-carbon alternatives for cement replacement and supplementary materials. The CEO is Bill Yearsley. Terra CO2 Technologies is based in Golden, CO, United States. Website: www.terraco2.com</p><p><strong>Anello Photonics</strong> raised $25 million from MESH on May 4, 2026. Silicon photonic optical gyroscope for autonomous navigation and tracking. The CEO is Mario Paniccia. Anello Photonics is based in Santa Clara, CA, United States. Website: www.anellophotonics.com</p><p><strong>Panthalassa</strong> raised $140 million at a $1 billion valuation from Peter Thiel on May 4, 2026. Renewable energy and ocean technology company harnessing ocean energy. Panthalassa is based in Portland, OR, United States. Website: www.panthalassa.com</p><p><strong>Deep Infra</strong> raised $107 million from 500 Global and Georges Harik on May 5, 2026. Cost-effective machine-learning models and serverless inference solutions. The CEO is Nikola Borisov. Deep Infra is based in Palo Alto, CA, United States. Website: www.deepinfra.com</p><p><strong>Enter</strong> raised $100 million at a $1.2 billion valuation from Founders Fund on May 5, 2026. Integrated platform enhancing efficiency in the legal sector with AI. The CEO is Mateus Costa-Ribeiro. Enter is based in S&#227;o Paulo, Brazil. Website: www.getenter.ai</p><p><strong>Moment Energy</strong> raised $40 million from Evok Innovations on May 5, 2026. BESS solutions repurposing EV batteries for energy storage systems. The CEO is Edward Chiang. Moment Energy is based in Coquitlam, Canada. Website: www.momentenergy.com</p><p><strong>QuantWare</strong> raised $177.8 million from Intel Capital, IQT and ETF Partners on May 5, 2026. Leading provider of quantum hardware and scaling technology. The CEO is Matthijs Rijlaarsdam. QuantWare is based in Delft, The Netherlands. Website: www.quantware.com</p><p><strong>Smartness</strong> raised $55 million from United Ventures and CDP Venture Capital on May 5, 2026. Multi-product platform for intelligent pricing and property management. Smartness is based in Rovereto, Italy. Website: www.smartness.com/en</p><p><strong>Corgi</strong> raised $266 million from TCV on May 6 and May 28, 2026. Startup-focused insurance carrier offering instant quotes and online coverage. The CEO is Nico Laqua. Corgi is based in San Francisco, CA, United States. Website: www.corgi.insure</p><p><strong>Pronto</strong> raised $20 million at a $200 million valuation from solo investor Lachy Groom on May 6, 2026. On-demand cleaning, laundry, and home services within 10 minutes. The CEO is Anjali Sardana. Pronto is based in Mumbai, India. Website: www.withpronto.com</p><p><strong>Vori</strong> raised $22 million from Cherryrock Capital on May 6, 2026. Modern B2B operating system for the grocery industry. The CEO is Brandon Hill. Vori is based in East Palo Alto, CA, United States. Website: www.vori.com</p><p><strong>Darkhive</strong> raised $30 million from RTX ventures on May 7, 2026. Situational awareness system for military and law enforcement professionals. The CEO is John Goodson. Darkhive is based in San Antonio, TX, United States. Website: www.darkhive.ai</p><p><strong>Lunar Outpost</strong> raised $30 million from Industrious Ventures on May 7, 2026. Innovative technology for sustainable human presence in space. The CEO is Justin Cyrus. Lunar Outpost is based in Golden, CO, United States. Website: www.lunaroutpost.com</p><p><strong>Cowboy Space</strong> raised $275 million at a $2 billion valuation from Index Ventures on May 11, 2026. Orbital AI compute infrastructure using solar-powered data centers. The CEO is Baiju Bhatt. Cowboy Space is based in San Carlos, CA, United States. Website: www.cowboyspace.com</p><p><strong>Grand Games</strong> raised $70 million from Balderton&#8217;s Growth Fund on May 11, 2026. Mobile gaming company creating genre-defining games. The CEO is Bekir Batuhan &#199;elebi. Grand Games is based in Besiktas, Turkey. Website: www.grand.gs</p><p><strong>Isomorphic Labs</strong> raised $2.1 billion from Thrive Capital on May 11, 2026. AI-driven drug discovery and biological data analysis platform. The CEO is Demis Hassabis. Isomorphic Labs is based in London, United Kingdom. Website: www.isomorphiclabs.com</p><p><strong>Embat</strong> raised $35.2 million at a $75.9 million valuation from Cathay Innovation on May 12, 2026. Cloud-based financial platform democratizing access to financial data. Embat is based in Madrid, Spain. Website: www.embat.io</p><p><strong>Exaforce</strong> raised $125 million at a $725 million valuation from HarbourVest, Peak XV, Mayfield, Khosla Ventures, Seligman Ventures, and AICONIC on May 12, 2026. Agentic SOC platform with AI agents for threat detection and response. The CEO is Ankur Singla. Exaforce is based in San Jose, CA, United States. Website: www.exaforce.com</p><p><strong>Gaiia</strong> raised $40 million from JMI Equity on May 12, 2026. Operating system for Telcos focusing on billing and operations. The CEO is Marc-Andr&#233; Campagna. Gaiia is based in Quebec, Canada. Website: www.gaiia.com</p><p><strong>Konvy.com</strong> raised $22 million from Cool Japan Fund on May 12, 2026. Beauty e-commerce platform offering cosmetics and skincare products. The CEO is QingGui Huang. Konvy.com is based in Watthana, Thailand. Website: www.konvy.com</p><p><strong>Monaco</strong> raised $50 million from Benchmark on May 12, 2026. Unified system for market data and demand generation automation. The CEO is Sam Blond. Monaco is based in San Francisco, CA, United States. Website: www.monaco.com</p><p><strong>Vapi</strong> raised $50 million at a $500 million valuation from Peak XV Partners on May 12, 2026. API integration platform for application and service management. The CEO is John Dearsley. Vapi is based in San Francisco, CA, United States. Website: www.vapi.ai</p><p><strong>9amHealth</strong> raised $26 million from Define Ventures on May 13, 2026. Complete cardiometabolic care for diabetes and chronic conditions. The CEO is Anton Kittelberger. 9amHealth is based in Encinitas, CA, United States. Website: www.9am.health</p><p><strong>Cinder</strong> raised $41 million from Radical Ventures on May 13, 2026. Digital safety platform for moderation, abuse mitigation, and AI trust. The CEO is Glen Wise. Cinder is based in New York, NY, United States. Website: www.cinder.ai</p><p><strong>Forus</strong> raised $160 million on May 13, 2026. Forus is an AI-powered network connecting doctors, pharmacies, payers, and biopharma to automate patient treatment access workflows. Forus is based in New York, NY, United States. Website: www.finsmes.com</p><p><strong>Fractile</strong> raised $220 million from Accel, Factorial Funds, and Founders Fund on May 13, 2026. Chips for faster inference of large language models. The CEO is Walter Goodwin. Fractile is based in London, United Kingdom. Website: www.fractile.ai</p><p><strong>LemFi</strong> raised $35.1 million from Highland Europe on May 13, 2026. Personal and business banking with international payment solutions. The CEO is Olalere Ridwan. LemFi is based in Toronto, Canada. Website: www.lemfi.com</p><p><strong>Fasset</strong> raised $51 million from participating investors on May 14, 2026. Stablecoin neobank for cross-border banking and investment. The CEO is Mohammad Raafi Hossain. Fasset is based in Dubai, United Arab Emirates. Website: www.fasset.com</p><p><strong>Iceotope</strong> raised $26 million from Two Seas Capital and Barclays Climate Ventures on May 14, 2026. Liquid-cooling technology for HPC and data center applications. The CEO is Simon Jesenko. Iceotope is based in Sheffield, United Kingdom. Website: www.iceotope.com</p><p><strong>NVision Imaging Technologies</strong> raised $55 million from Playground Global, Matterwave Ventures, Entr&#233;e Capital and a $17 million venture loan from the European Investment Bank on May 14, 2026. Imaging platform using polarized metabolites for advanced cancer diagnosis. NVision Imaging Technologies is based in Ulm, Germany. Website: www.nvision-imaging.com</p><p><strong>equipifi</strong> raised $34 million from Left Lane Capital on May 14, 2026. Fintech SaaS providing Buy Now, Pay Later solutions for banks. The CEO is Bryce Deeney. equipifi is based in Scottsdale, AZ, United States. Website: www.equipifi.com</p><p><strong>WIRobotics</strong> raised $63.6 million from JB Investment on May 15, 2026. Wearable robot reducing physical demands for safe active motion. The CEO is Younbaek Lee. WIRobotics is based in Yongin, South Korea. Website: www.wirobotics.com</p><p><strong>Xpanner</strong> raised $18 million from Korea Investment Partners on May 15, 2026. Digital construction technology site solution improving productivity and sa. The CEO is Henri Myounghan Lee. Xpanner is based in Seoul, South Korea. Website: www.xpanner.com</p><p><strong>movus technologies</strong> raised $104.5 million from Mizuho Bank, Sumitomo Mitsui Banking Corporation, Resona Bank, Shoko Chukin Bank, and Hokuriku Bank on May 15, 2026. Car ownership rental services for vehicles. movus technologies is based in Jakarta, Indonesia. Website: www.mo-vus.com</p><p><strong>Decart</strong> raised $300 million at a $4 billion valuation from Radical Ventures on May 18, 2026. AI models transforming live footage into immersive digital environments. The CEO is Dean Leitersdorf. Decart is based in San Francisco, CA, United States. Website: www.decart.ai</p><p><strong>Dust</strong> raised $40 million from Abstract and Sequoia on May 18, 2026. AI platform for building customized virtual assistants for businesses. Dust is based in Paris, France. Website: www.dust.tt</p><p><strong>Armada</strong> raised $230 million at a $2 billion valuation from Overmatch, BlackRock and 8090 Industries on May 19, 2026. Edge platform combining connectivity, compute, and AI for remote operations. The CEO is Dan Wright. Armada is based in San Francisco, CA, United States. Website: www.armada.ai</p><p><strong>Brami</strong> raised $33 million from VMG Partners on May 19, 2026. Producer and retailer of plant-based Mediterranean-inspired snacks. Brami is based in New York, NY, United States. Website: www.bramisnacks.com</p><p><strong>Lexroom.ai</strong> raised $50 million from Left Lane Capital on May 19, 2026. AI-powered legal research tool for lawyers. The CEO is Paolo Fois. Lexroom.ai is based in Milan, Italy. Website: www.lexroom.ai</p><p><strong>Radar</strong> raised $170 million at a $1 billion valuation from Gideon Strategic Partners and Nimble Partners on May 19, 2026. RFID and computer vision platform for automated inventory management. The CEO is Spencer Hewett. Radar is based in New York, NY, United States. Website: www.goradar.com</p><p><strong>Unframe</strong> raised $50 million from Highland Europe on May 19, 2026. Platform for building custom AI solutions at scale. The CEO is Shay Levi. Unframe is based in Cupertino, CA, United States. Website: www.unframe.ai</p><p><strong>bunch</strong> raised $35 million from Portage on May 19, 2026. Operating system for private market investing and portfolio management. bunch is based in Berlin, Germany. Website: www.bunch.capital</p><p><strong>Amca</strong> raised $300 million at a $1 billion valuation from Caffeinated Capital on May 20, 2026. Aerospace and defense product development and rapid prototyping. The CEO is Jai Malik. Amca is based in El Segundo, CA, United States. Website: www.amca.com</p><p><strong>RemotePass</strong> raised $17.4 million from EBRD Venture Capital on May 20, 2026. Comprehensive platform for managing and paying remote contractors globally. The CEO is Kamal Reggad. RemotePass is based in Boston, MA, United States. Website: www.remotepass.com</p><p><strong>Pivot</strong> raised $40 million from Forestay Capital and Notion Capital on May 21, 2026. Modern Source-to-Pay tool for spend control and vendor risk management. Pivot is based in Paris, France. Website: www.pivotapp.ai</p><p><strong>August Robotics</strong> raised $30 million from Big Pi Ventures on May 22, 2026. B2B robotics automating dirty, dangerous, and dull workflows. The CEO is Alex Wyatt. August Robotics is based in Sha Tin, Hong Kong. Website: www.augustrobotics.com</p><p><strong>Handle</strong> raised $27 million from Marbruck on May 23, 2026. End-to-end credit and finance solution for construction industry. The CEO is Patrick Hogan. Handle is based in San Francisco, CA, United States. Website: www.handle.com</p><p><strong>Above Security</strong> raised $50 million on May 25, 2026. Insider threat detection and communications monitoring services. Above Security is based in Tel Aviv, Israel. Website: www.abovesec.com</p><p><strong>JPYC</strong> raised $31.4 million from Life Design Fund, IHD STRATEGY FUND, Awagin Future Creation Investment Limited Partnership, and Meiji Yasuda Future Co-Creation Investment Limited Partnership on May 26, 2026. Community stablecoin pegged to the Japanese yen for capital liquidity. JPYC is based in Tokyo, Japan. Website: www.jpyc.jp</p><p><strong>OpenRouter</strong> raised $113 million at a $1.3 billion valuation from CapitalG on May 26, 2026. Platform connecting AI applications with language models and cloud hosting. The CEO is Alex Atallah. OpenRouter is based in New York, NY, United States. Website: www.openrouter.ai</p><p><strong>Phytolon</strong> raised $23.6 million from an undisclosed strategic investor on May 26, 2026. Sustainable production of high-quality, healthy food colors. The CEO is Halim Jubran. Phytolon is based in Yoqne`am `illit, Israel. Website: www.phytolon.com</p><p><strong>Stride</strong> raised $15 million from Lightrock and TRIREC through the Accelerate7 platform on May 26, 2026. Affordable solar energy and battery solutions for sustainability. Stride is based in Ho Chi Minh City, Vietnam. Website: www.stride.vn/en</p><p><strong>The Black Label</strong> raised $79.7 million at a $661.2 million valuation from Krafton and Tencent Music on May 26, 2026. K-pop label and entertainment production studio. The Black Label is based in Seoul, South Korea. Website: www.theblacklabel.com</p><p><strong>Motif Technologies</strong> raised $16 million from existing investors NICE Investment Partners and Nautilus Investment on May 27, 2026. Proprietary AI foundation models and enterprise AX solutions. Motif Technologies is based in Seoul, South Korea. Website: www.motiftech.io</p><p><strong>Thea Energy</strong> raised $100 million from US Innovative Technology Fund on May 27, 2026. Economical and scalable fusion energy system for zero-emission power. The CEO is Brian Berzin. Thea Energy is based in Kearny, NJ, United States. Website: www.thea.energy</p><p><strong>Triomics</strong> raised $22 million from Battery Ventures on May 27, 2026. Generative AI platform matching patients to clinical trials in oncology. Triomics is based in San Francisco, CA, United States. Website: www.triomics.com</p><p><strong>Airis Labs</strong> raised $31 million from PSG Equity on May 28, 2026. AI platform converting visual data into structured intelligence. Airis Labs is based in Washington, DC, United States. Website: www.airis-labs.com</p><p><strong>CorPower Ocean</strong> raised $61.6 million from the European Innovation Council&#8217;s EIC Fund, Algebris Investments, Acario, Tokyo Gas&#8217;s corporate venture arm, and GTT Strategic Ventures on May 28, 2026. High efficiency wave energy converters for renewable energy applications. The CEO is Patrik M&#246;ller. CorPower Ocean is based in Stockholm, Sweden. Website: www.corpowerocean.com</p><p><strong>Orbital Industries</strong> raised $50 million from Plural on May 28, 2026. Sustainable technologies for carbon capture and environmental protection. Orbital Industries is based in London, United Kingdom. Website: www.orbitalmaterials.com</p><p><strong>Pace</strong> raised $46 million from Thrive Capital and Sequoia Capital on May 28, 2026. AI bots automating business operations and processes. Pace is based in New York, NY, United States. Website: www.withpace.com</p><p><strong>XCENA(formerly MetisX)</strong> raised $135 million at a $570 million valuation from Altinum and IMM Investment on May 29, 2026. Intelligent memory and memory-centric computing architectures. XCENA(formerly MetisX) is based in Seongnam, South Korea. Website: www.xcena.com</p><h2><strong>Three Most Interesting Deals</strong></h2><p><strong>Decart ($300M from Radical Ventures): </strong>Decart turns live video into interactive, immersive digital environments using AI models that can reinterpret footage on the fly. That puts it squarely in the path of two fast-moving tailwinds: real-time generative media and the demand for &#8220;game-engine-like&#8221; experiences without bespoke 3D production. What&#8217;s notable is the product direction&#8212;live transformation rather than offline VFX&#8212;which opens doors in entertainment, advertising, and creator tools where latency and controllability matter. The $300M Series B at a $4.0B valuation, led by Radical Ventures, suggests the company is scaling beyond demos toward a platform developers can actually build on.</p><p><strong>Thea Energy ($100M from US Innovative Technology Fund): </strong>Thea Energy is developing a fusion power system designed to be cheaper to build and easier to scale, aiming for zero-emission electricity without the intermittency of renewables. Fusion funding is shifting from &#8220;physics experiments&#8221; to &#8220;power-plant engineering,&#8221; and Thea&#8217;s pitch sits on that boundary: practical hardware choices, manufacturability, and a path to repeatable deployment. Located in the New Jersey industrial corridor, it&#8217;s positioned to recruit fusion and high-end manufacturing talent and to prototype with real supply-chain proximity. The company&#8217;s $100M Series B led by the US Innovative Technology Fund gives it meaningful capital to push from concept to integrated subsystem milestones&#8212;where fusion companies start to separate from the pack.</p><p><strong>Isomorphic Labs ($2.1B from Thrive Capital): </strong>Isomorphic Labs is building IsoDDE, a unified AI stack to design drugs across therapeutic areas and modalities&#8212;from structure prediction through candidate selection&#8212;rooted in DeepMind&#8217;s AlphaFold work but aimed at full discovery workflows, not benchmark wins alone. Momentum shows up in named pharma partnerships (Novartis, Lilly, Johnson &amp; Johnson), a mix of partnered and wholly owned programs, and the company&#8217;s push to move internal assets toward the clinic. With teams in London, Cambridge, MA, and Lausanne, it is scaling hiring across AI, engineering, medicinal chemistry, and clinical after the round. Thrive Capital led the $2.1B Series B, with Alphabet, GV, Temasek, CapitalG, MGX, and the UK Sovereign AI Fund in the syndicate&#8212;unusual depth of capital for a company founded in 2021.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series A activity: Week of May 24, 2026]]></title><description><![CDATA[There were 27 Series As in the last week that raised a total of $1.8 billion. The average deal size was $65.6 million while the median was $16.7 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-may-24</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-may-24</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Mon, 01 Jun 2026 14:55:06 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!tJjU!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1c11a8-92d3-440d-9b37-a0e24427c558_1758x532.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!tJjU!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1c11a8-92d3-440d-9b37-a0e24427c558_1758x532.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!tJjU!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1c11a8-92d3-440d-9b37-a0e24427c558_1758x532.png 424w, https://substackcdn.com/image/fetch/$s_!tJjU!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1c11a8-92d3-440d-9b37-a0e24427c558_1758x532.png 848w, https://substackcdn.com/image/fetch/$s_!tJjU!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1c11a8-92d3-440d-9b37-a0e24427c558_1758x532.png 1272w, https://substackcdn.com/image/fetch/$s_!tJjU!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1c11a8-92d3-440d-9b37-a0e24427c558_1758x532.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!tJjU!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1c11a8-92d3-440d-9b37-a0e24427c558_1758x532.png" width="1456" height="441" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/6a1c11a8-92d3-440d-9b37-a0e24427c558_1758x532.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:441,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:73952,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://postround.substack.com/i/200132722?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1c11a8-92d3-440d-9b37-a0e24427c558_1758x532.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!tJjU!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1c11a8-92d3-440d-9b37-a0e24427c558_1758x532.png 424w, https://substackcdn.com/image/fetch/$s_!tJjU!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1c11a8-92d3-440d-9b37-a0e24427c558_1758x532.png 848w, https://substackcdn.com/image/fetch/$s_!tJjU!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1c11a8-92d3-440d-9b37-a0e24427c558_1758x532.png 1272w, https://substackcdn.com/image/fetch/$s_!tJjU!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1c11a8-92d3-440d-9b37-a0e24427c558_1758x532.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series A Deals</strong></h2><p><strong>Fairdeal</strong> raised $14.9 million from Bertelsmann India Investments on May 26, 2026. All-in-one retail solution for offline commerce. Fairdeal is based in Gurgaon, India. Website: www.fairdeal.market</p><p><strong>KURU Footwear</strong> raised $11.6 million on May 26, 2026. DTC footwear brand focused on eliminating foot pain. KURU Footwear is based in Salt Lake City, UT, United States. Website: www.kurufootwear.com</p><p><strong>Lucis</strong> raised $20 million from Singular on May 26, 2026. Health technology platform for biological age measurement and insights. The CEO is Maxime Berthelot. Lucis is based in Artannes-sur-indre, France. Website: www.lucis.life</p><p><strong>Quanscient</strong> raised $11.6 million from 55 North and B&amp;C Group on May 26, 2026. Multiphysics simulation software utilizing quantum computing algorithms. The CEO is Juha Riippi. Quanscient is based in Tampere, Finland. Website: www.quanscient.com</p><p><strong>Retro Biosciences</strong> raised $1 billion from Sam Altman on May 26, 2026. Biotechnology company focused on aging and lifespan extension. The CEO is Joe Betts-Lacroix. Retro Biosciences is based in Redwood City, CA, United States. Website: www.retro.bio</p><p><strong>D-CRBN</strong> raised $20.4 million from Astaia on May 27, 2026. Climate tech transforming carbon into sustainable raw resources. D-CRBN is based in Antwerp, Belgium. Website: www.d-crbn.com</p><p><strong>Focused Energy</strong> raised $240 million from RWE, the Federal Agency for Breakthrough Innovation SPRIND, the European Innovation Council Fund, and Prime Movers Lab on May 27, 2026. Laser fusion startup developing clean alternative energy. The CEO is Thomas Forner. Focused Energy is based in Austin, TX, United States. Website: www.focused-energy.world</p><p><strong>Lastwall</strong> raised $16 million from BDC Capital&#8217;s StrongNorth Fund on May 27, 2026. Passwordless authentication and cybersecurity platform. The CEO is Karl H.. Lastwall is based in Mountain View, CA, United States. Website: www.lastwall.com</p><p><strong>LightTable</strong> raised $22 million from Innovation Endeavors on May 27, 2026. Software company designing documents for architects and construction. LightTable is based in Denver, CO, United States. Website: www.lighttable.ai</p><p><strong>Olyzon</strong> raised $10 million from S4S Ventures on May 27, 2026. Adtech solutions for Connected TV enhancing brand uplift and engagement. Olyzon is based in New York, NY, United States. Website: www.olyzon.tv</p><p><strong>Pacifico Biolabs</strong> raised $8.2 million on May 27, 2026. Fermentation biotechnology for sustainable food alternatives. Pacifico Biolabs is based in Berlin, Germany. Website: www.pacificobiolabs.com</p><p><strong>PlayerData</strong> raised $12 million on May 27, 2026. Wearable technology platform transforming athlete training and data access. The CEO is Roy Hotrabhvanon. PlayerData is based in Edinburgh, United Kingdom. Website: www.playerdata.com</p><p><strong>RevEng.AI</strong> raised $15 million from NATO Innovation Fund on May 27, 2026. Cybersecurity AI for analyzing closed-source binaries and supply chain. RevEng.AI is based in London, United Kingdom. Website: www.reveng.ai</p><p><strong>Tiea Connectors</strong> raised $8 million from IvyCap Ventures on May 27, 2026. Specialized connectors for low and high voltage applications. Tiea Connectors is based in Dharwad, India. Website: www.tieaconnectors.com</p><p><strong>allO</strong> raised $14 million from Zigg Capital on May 27, 2026. Digital technology solutions for local restaurants to compete effectively. The CEO is Cancan Liu. allO is based in Munich, Germany. Website: www.allo.restaurant</p><p><strong>C2i Semiconductors</strong> raised $16.7 million from TDK Ventures and earlier investors on May 28, 2026. Fabless semiconductor company designing power management integrated circuit. The CEO is Ram Anant. C2i Semiconductors is based in Bangalore, India. Website: www.c2isemi.com</p><p><strong>Gray Swan</strong> raised $40 million from Wing Venture Capital and Madrona on May 28, 2026. AI cybersecurity platform for model safety and red-teaming. The CEO is Matt Fredrikson. Gray Swan is based in Pittsburgh, PA, United States. Website: www.grayswan.ai</p><p><strong>OurSky</strong> raised $90 million from Lux Capital and co-led by Upfront Ventures, Detroit Venture Partners, Island Green Capital, and RTX Ventures on May 28, 2026. Developer platform for space applications and observational data. The CEO is Dan Roelker. OurSky is based in Santa Monica, CA, United States. Website: www.oursky.ai</p><p><strong>Saris</strong> raised $28.8 million from 8VC on May 28, 2026. AI negotiation agents for finance and enterprises. The CEO is Danial Jameel. Saris is based in San Francisco, CA, United States. Website: www.saris.ai</p><p><strong>Solstice Health</strong> raised $21 million from Transformation Capital on May 28, 2026. AI life sciences marketing platform for oncology data retrieval. Solstice Health is based in New York, NY, United States. Website: www.solsticehealth.co</p><p><strong>vorteX-io</strong> raised $9.9 million from Seventure Partners&#8217; Blue Forward Fund on May 28, 2026. Flood warning and forecasting system for hydrology monitoring. vorteX-io is based in Toulouse, France. Website: www.vortex-io.fr</p><p><strong>Diamfab</strong> raised $11.6 million on May 29, 2026. Advanced manufacturer of diamond for the semiconductor industry. The CEO is Gauthier Chicot. Diamfab is based in Grenoble, France. Website: www.diamfab.com</p><p><strong>Geordie</strong> raised $30 million at a $155 million valuation from Balderton Capital on May 29, 2026. Agent-native security platform for autonomous AI agents. The CEO is Henry Comfort. Geordie is based in London, United Kingdom. Website: www.geordie.ai</p><p><strong>MokN</strong> raised $15 million from GV on May 29, 2026. Security platform using decoy assets to detect credential theft. MokN is based in Paris, France. Website: www.mokn.io</p><p><strong>Picogrid</strong> raised $45 million from Bessemer Venture Partners on May 29, 2026. Unified platform for autonomous systems. The CEO is Zane Mountcastle. Picogrid is based in El Segundo, CA, United States. Website: www.picogrid.com</p><p><strong>Waypoint Bio</strong> raised $20 million from Amplify Partners on May 29, 2026. Optimizing cell therapy using spatial biology techniques. The CEO is Xinchen Wang. Waypoint Bio is based in New York, NY, United States. Website: www.waypointbio.com</p><p><strong>Default</strong> raised $20 million from 8VC on May 30, 2026. Default is a go-to-market platform that helps teams deploy AI agents by unifying revenue data and operational workflows. Default is based in New York, NY, United States. Website: www.default.com<br></p><p><strong>Three Most Interesting Deals</strong></p><p><strong>Focused Energy ($240M from RWE, the Federal Agency for Breakthrough Innovation SPRIND, the European Innovation Council Fund, and Prime Movers Lab): </strong>Focused Energy is building a laser-driven fusion system aimed at producing clean, dispatchable power without the intermittency baggage of wind and solar. The interesting momentum here is the mix of industrial and government backers that tend to show up only when a technical program is moving from theory toward engineered systems and facilities. By anchoring in Austin while pulling in major European innovation institutions, the company looks set up for transatlantic partnerships around supply chain, siting, and eventual grid integration. It raised $240M led by RWE alongside SPRIND, the European Innovation Council Fund, and Prime Movers Lab&#8212;an unusually heavyweight syndicate for a fusion startup still in the build-and-prove phase.</p><p><strong>OurSky ($90M from Lux Capital and co-led by Upfront Ventures, Detroit Venture Partners, Island Green Capital, and RTX Ventures): </strong>OurSky provides a developer platform that lets teams build space applications and turn observational data into usable products, without stitching together satellites, ground stations, and analytics from scratch. What&#8217;s timely is the shift from &#8220;launch more hardware&#8221; to &#8220;ship more software,&#8221; as defense, climate, and logistics groups want faster iteration on imagery and tasking rather than bespoke satellite programs. The company&#8217;s positioning as an integration layer&#8212;APIs, tools, and workflows around space data&#8212;makes it easier for non-space-native teams to deploy space-enabled features inside existing products. OurSky raised $90M with Lux Capital leading and a broad co-lead group including Upfront Ventures and RTX Ventures, underscoring how mainstream space software has become beyond pure aerospace investors.</p><p><strong>Gray Swan ($40M from Wing Venture Capital and Madrona): </strong>Gray Swan builds an AI security platform focused on model safety&#8212;testing, red-teaming, and hardening AI systems before attackers (or users) find the failure modes in production. As companies ship copilots and agentic workflows into real operations, the security problem is no longer just data leaks; it&#8217;s prompt injection, tool misuse, policy bypass, and models behaving badly under adversarial pressure. The product category is gaining urgency because enterprises need repeatable evaluation and guardrails that fit CI/CD, not one-off &#8220;model audits&#8221; that go stale after the next fine-tune. Gray Swan&#8217;s $40M round led by Wing Venture Capital and Madrona puts it in the cohort of startups trying to become the default safety layer as AI moves from demos to regulated, high-stakes deployments.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series A activity: Week of May 17, 2026]]></title><description><![CDATA[There were 16 Series As in the last week that raised a total of $1.3 billion. The average deal size was $79.3 million while the median was $20.0 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-may-17</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-may-17</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Mon, 25 May 2026 12:03:47 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!xen2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbaa3e8e-1b71-494a-92b5-4f92a02d5a3c_1752x536.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!xen2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbaa3e8e-1b71-494a-92b5-4f92a02d5a3c_1752x536.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!xen2!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbaa3e8e-1b71-494a-92b5-4f92a02d5a3c_1752x536.png 424w, https://substackcdn.com/image/fetch/$s_!xen2!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbaa3e8e-1b71-494a-92b5-4f92a02d5a3c_1752x536.png 848w, https://substackcdn.com/image/fetch/$s_!xen2!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbaa3e8e-1b71-494a-92b5-4f92a02d5a3c_1752x536.png 1272w, https://substackcdn.com/image/fetch/$s_!xen2!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbaa3e8e-1b71-494a-92b5-4f92a02d5a3c_1752x536.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!xen2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbaa3e8e-1b71-494a-92b5-4f92a02d5a3c_1752x536.png" width="1456" height="445" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/fbaa3e8e-1b71-494a-92b5-4f92a02d5a3c_1752x536.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:445,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:79733,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://postround.substack.com/i/199141402?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbaa3e8e-1b71-494a-92b5-4f92a02d5a3c_1752x536.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!xen2!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbaa3e8e-1b71-494a-92b5-4f92a02d5a3c_1752x536.png 424w, https://substackcdn.com/image/fetch/$s_!xen2!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbaa3e8e-1b71-494a-92b5-4f92a02d5a3c_1752x536.png 848w, https://substackcdn.com/image/fetch/$s_!xen2!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbaa3e8e-1b71-494a-92b5-4f92a02d5a3c_1752x536.png 1272w, https://substackcdn.com/image/fetch/$s_!xen2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbaa3e8e-1b71-494a-92b5-4f92a02d5a3c_1752x536.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series A Deals</strong></h2><p><strong>Eisen</strong> raised $10 million from MissionOG and a previously unannounced $8.5 million seed led by Index Ventures on May 19, 2026. End-to-end escheatment platform for dormant account compliance. Eisen is based in New York, NY, United States. Website: www.witheisen.com</p><p><strong>Ocean</strong> raised $20 million from Lightspeed Venture Partners on May 19, 2026. AI-powered email security platform detecting phishing and fraud. Ocean is based in New York, NY, United States. Website: www.ocean.security</p><p><strong>Viktor</strong> raised $75 million from Accel on May 19, 2026. AI coworker automating workplace tasks across company tools. Viktor is based in Warsaw, Poland. Website: www.viktor.com</p><p><strong>Catena Labs</strong> raised $30 million from Acrew Capital and a16z crypto on May 20, 2026. Incubator for independent products in identity, communications, and AI. The CEO is Sean Neville. Catena Labs is based in Boston, MA, United States. Website: www.catenalabs.com</p><p><strong>CircuitHub</strong> raised $28 million from Plural on May 20, 2026. CircuitHub is an on-demand electronics manufacturing platform using software and automation to speed up PCB and electronics production. CircuitHub is based in South Deerfield, MA, United States. Website: www.circuithub.com</p><p><strong>Iscon Balaji Foods</strong> raised $215 million from Advent International on May 20, 2026. Food and beverage company offering chips, fries, and burger patties. Iscon Balaji Foods is based in Ahmedabad, India. Website: www.isconbalajifoods.com</p><p><strong>Prelude</strong> raised $20 million from 20VC on May 20, 2026. SMS verification and mobile onboarding infrastructure with unified APIs. Prelude is based in Paris, France. Website: www.prelude.so</p><p><strong>Quantum Bridge Technologies</strong> raised $8 million from Primo Capital SGR on May 20, 2026. Next-generation internet for global quantum communication. Quantum Bridge Technologies is based in Toronto, Canada. Website: www.qubridge.io</p><p><strong>Quartermaster</strong> raised $43 million from First Round Capital and Quiet Capital on May 20, 2026. Defense tech developing real-time distributed marine software. The CEO is Neil Sobin. Quartermaster is based in Arlington, VA, United States. Website: www.quartermaster.us</p><p><strong>Texture</strong> raised $12.5 million from VoLo Earth Ventures and Equal Ventures on May 20, 2026. Data aggregation platform for the energy sector. Texture is based in New York, NY, United States. Website: www.texturehq.com</p><p><strong>Variational</strong> raised $50 million from Dragonfly on May 20, 2026. Infrastructure for peer-to-peer trading and settlement of derivatives. Variational is based in George Town, Cayman Islands. Website: www.variational.io</p><p><strong>ClearOps</strong> raised $10 million from Hitachi Ventures on May 21, 2026. B2B supply chain software for machine manufacturing optimization. The CEO is William Barkawi. ClearOps is based in M&#252;nchen, Germany. Website: www.clearops.com</p><p><strong>Dandelion Health</strong> raised $14 million from Healthier Capital on May 21, 2026. AI platform catalyzing innovation in healthcare applications. The CEO is Elliott Green. Dandelion Health is based in New York, NY, United States. Website: www.dandelionhealth.ai</p><p><strong>Muybridge</strong> raised $16 million from Investinor, Fairpoint, Idekapital and RunwayFBU on May 21, 2026. Imaging platform developing software and sensors for cameras. Muybridge is based in Fornebu, Norway. Website: www.muybridge.com</p><p><strong>Benefitbay</strong> raised $18 million from Ten Coves Capital on May 22, 2026. End-to-end solution for managing ICHRA plans for employers. The CEO is Brandy Thompson. Benefitbay is based in Kansas City, MO, United States. Website: www.benefitbay.com</p><p><strong>Hark</strong> raised $700 million at a $6 billion valuation from Parkway Venture Capital on May 22, 2026. Personalized AI systems platform integrating software and hardware. Hark is based in San Jose, CA, United States. Website: www.hark.com<br></p><p><strong>Three Most Interesting Deals</strong></p><p><strong>CircuitHub ($28M from Plural): </strong>CircuitHub&#8217;s $28M Series A stands out because it funds infrastructure that many hardware and industrial AI companies depend on but few can build internally: fast, software-defined electronics manufacturing with tighter design-to-production loops. The company&#8217;s expansion of automated capacity across the U.S. and Europe directly addresses two strategic pressures in the market&#8212;supply-chain resilience and shorter iteration cycles for complex hardware. From an investment perspective, this is a picks-and-shovels bet on the physical layer of the innovation stack, where better manufacturing throughput can unlock value across many downstream startups and product categories. If execution continues, CircuitHub could become a critical enabling platform for teams that need both speed and reliability in electronics production.</p><p><strong>Hark ($700M from Parkway Venture Capital): </strong>Hark&#8217;s $700M Series A is one of the clearest signals this week that investors are willing to fund full-stack AI platform bets&#8212;models, infrastructure, and device ambitions&#8212;at a scale usually reserved for much later stages. Strategically, the round suggests conviction that personalized, multimodal AI systems can become a major control layer for consumer and enterprise workflows, not just a feature inside existing software. The size and investor mix also imply expectations of rapid capacity buildout in compute and product development, which can create durable advantages if execution matches capital intensity. Even with staging-risk concerns, this deal sets an important benchmark for how aggressively the market is pricing category leadership in next-generation AI platforms.</p><p><strong>Quartermaster ($43M from First Round Capital and Quiet Capital): </strong>Quartermaster&#8217;s $43M raise highlights continued momentum in defense tech, especially software for distributed, real-time maritime operations. This matters strategically because procurement tailwinds and geopolitical demand are translating into larger early rounds for mission-critical systems. The marine focus is relatively under-served versus aerial domains, creating room for differentiated platforms and data moats tied to deployments. The deal signals that investors see credible pathways to scaled contracts and long-duration revenue in defense software.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Everything is seed]]></title><description><![CDATA[Founders are all that count]]></description><link>https://postround.substack.com/p/everything-is-seed</link><guid isPermaLink="false">https://postround.substack.com/p/everything-is-seed</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Mon, 18 May 2026 13:30:04 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!9Zpw!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33468acd-2a4a-4ebe-b676-9cc4961f2ed1_264x264.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Once upon a time, not so long ago, there was this idea of seed rounds, As, Bs, Cs, Ds, and IPOs. The concept worked like this: companies started without very much and raised a small amount of money to hit a proof point. They&#8217;d hit a proof point, get bigger in the process, and raise a larger amount of money. This would repeat all the way to the IPO when they&#8217;d raise a whole lot of money and/or generate liquidity for employees and investors. At each step of this process, investors would evaluate the company based on somewhat objective measurements of progress - metrics. Of course, the investors wouldn&#8217;t judge solely on metrics because they never told the whole story and, fundamentally, the thing that mattered most was the distant future. But, still, metrics were useful.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading PostRound! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p>In the last couple years, metrics lost their value. Not 100% of it, but a lof it, especially as a somewhat objective standard. There are a few reasons for that change. A big one is that numbers started getting very very very ludicrously big almost unimaginably fast. First companies started going from 0-$10m in 18 months, then it was 0-100 million and then 0-$1B in revenue in under two years. When a single company grows that way, it can be explained away. When that behavior becomes the baseline we start to lose our ability to judge normal/exceptional.</p><p>Maybe worse, getting that normal/exceptional decision wrong is far more consequential because the fast movers are that much faster and get that much bigger. But worst of all, maybe, is that the mistake is OBVIOUS that much faster to everyone! No one likes being wrong in public, certainly not investors.</p><p>So metrics are out as a way to judge progress objectively.</p><p>Next on the list of no longer useful method of evaluating scaling company quality: technology. Our business is, primarily, about funding novel technology that also makes lots of money. Novel technology is hard. At least, it was. The rate at which technology is becoming easier to build combined with the number of people willing to do it and having the means to do it is still on an exponential curve. Nearly every unique piece of revolutionary software built in the last year has been copied almost immediately by competitiors with ever increasing speed. This is true of saas businesses and it is true of the most complex AI models. For all the funding they&#8217;ve raised, OpenAI and Anthropic are seemingly within months of one another in replicating advanced capabilities.</p><p>So what&#8217;s a VC to do? Can&#8217;t evaluate based on metrics. Can&#8217;t evaluate based on technology. Can&#8217;t really fund based on market or idea because those are similarly replicable.</p><p>That leaves the final leg of any evaluation: founders. Founders end up being the fixed point around which investors can build an investment thesis. That&#8217;s particularly interesting because it is stage independant and sector agnostic. You can back an exceptional founder at seed or at the D and largely base your argument around founder quaility (see Elon Musk). You can do it with any amount of money, and be logically consistent - just back the best founders.</p><p>It is true that, over time, the best founders pile on exceptional progress - they quickly hire incredible people, they find new ways to do hard things, they generally manage to stay ahead of all curves. And because that&#8217;s true, you can draw a line back from any truly exceptional outcome to the earliest stages of a company and argue that, if the founder is good enough, the stage and the money they need are divorced from another.</p><p>So that&#8217;s the theory - fund the founder. That was always the primary driver of a seed round. Now its the primary driver of every round. Now every round is basically just seed</p><p>__</p><p>Disclosure:</p><p>This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author, and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. This communication is not an offer to buy or sell, or a solicitation of any offer to buy or sell any financial instrument, product, or service. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice. The reader should obtain advice based on their own individual circumstances from their own tax, financial or legal advisor.</p><p>Securities are offered through Finalis Securities LLC, member FINRA/SIPC. Magid and Company and Finalis Securities LLC are separate unaffiliated entities.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading PostRound! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series A activity: Week of May 10, 2026]]></title><description><![CDATA[There were 28 Series As in the last week that raised a total of $765.0 million. The average deal size was $27.3 million while the median was $22.5 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-may-10</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-may-10</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Mon, 18 May 2026 12:48:52 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!S36h!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc29ec6ff-8cb0-4ae3-ac75-02cd605daa12_1754x542.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!S36h!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc29ec6ff-8cb0-4ae3-ac75-02cd605daa12_1754x542.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!S36h!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc29ec6ff-8cb0-4ae3-ac75-02cd605daa12_1754x542.png 424w, https://substackcdn.com/image/fetch/$s_!S36h!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc29ec6ff-8cb0-4ae3-ac75-02cd605daa12_1754x542.png 848w, https://substackcdn.com/image/fetch/$s_!S36h!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc29ec6ff-8cb0-4ae3-ac75-02cd605daa12_1754x542.png 1272w, https://substackcdn.com/image/fetch/$s_!S36h!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc29ec6ff-8cb0-4ae3-ac75-02cd605daa12_1754x542.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!S36h!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc29ec6ff-8cb0-4ae3-ac75-02cd605daa12_1754x542.png" width="1456" height="450" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/c29ec6ff-8cb0-4ae3-ac75-02cd605daa12_1754x542.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:450,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:80214,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://postround.substack.com/i/198255082?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc29ec6ff-8cb0-4ae3-ac75-02cd605daa12_1754x542.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!S36h!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc29ec6ff-8cb0-4ae3-ac75-02cd605daa12_1754x542.png 424w, https://substackcdn.com/image/fetch/$s_!S36h!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc29ec6ff-8cb0-4ae3-ac75-02cd605daa12_1754x542.png 848w, https://substackcdn.com/image/fetch/$s_!S36h!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc29ec6ff-8cb0-4ae3-ac75-02cd605daa12_1754x542.png 1272w, https://substackcdn.com/image/fetch/$s_!S36h!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc29ec6ff-8cb0-4ae3-ac75-02cd605daa12_1754x542.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series A Deals</strong></h2><p><strong>Eyeo</strong> raised $47.1 million from Innovation Industries on May 11, 2026. Revolutionizing image sensing with improved resolution and light capture. The CEO is Douglas de Jager. Eyeo is based in Eindhoven, The Netherlands. Website: www.eyeo-imaging.com</p><p><strong>Fifth Dimension</strong> raised $26 million from HV Capital on May 11, 2026. Decision intelligence platform for real assets. Fifth Dimension is based in London, United Kingdom. Website: www.fifthdimensionai.com</p><p><strong>Happl</strong> raised $11 million from Portage Ventures on May 11, 2026. People Experience platform empowering managers to engage and support teams. The CEO is Ben Towers. Happl is based in London, United Kingdom. Website: www.happl.com</p><p><strong>HrdWyr</strong> raised $13 million from Ideaspring Capital on May 11, 2026. AI-native semiconductor chips for AI workloads. HrdWyr is based in Bengaluru, Karnataka, India. Website: www.hrdwyr.com</p><p><strong>Adfin</strong> raised $18 million from Index Ventures on May 12, 2026. Payment platform streamlining workflows for faster, easier transactions. The CEO is Tom Pope. Adfin is based in London, United Kingdom. Website: www.adfin.com</p><p><strong>Greenboard</strong> raised $15.5 million from Base10 Partners on May 12, 2026. Financial technology company. The CEO is Dave Feldman. Greenboard is based in Austin, TX, United States. Website: www.greenboard.com</p><p><strong>HavocAI</strong> raised $100 million on May 12, 2026. AI company providing maritime autonomy solutions for defense and commerce. The CEO is Paul Lwin. HavocAI is based in Providence, RI, United States. Website: www.havocai.com</p><p><strong>Heaviside Industries</strong> raised $28 million from Interlagos on May 12, 2026. Multi-domain autonomous precision munitions for air, land, and sea. Heaviside Industries is based in Los Angeles, CA, United States. Website: www.theheaviside.com</p><p><strong>Roadrunner</strong> raised $22 million from Mamoon Hamid at Kleiner Perkins and a Series A led by Trae Stephens at Founders Fund on May 12, 2026. Agentic revenue infrastructure platform replacing legacy CPQ. Roadrunner is based in San Francisco, CA, United States. Website: www.roadrunner.ai</p><p><strong>Star Catcher</strong> raised $65 million from B Capital, Shield Capital, and Cerberus Ventures on May 12, 2026. First energy grid for space transforming satellite power. The CEO is Andrew Rush. Star Catcher is based in Jacksonville, FL, United States. Website: www.star-catcher.com</p><p><strong>Viaim</strong> raised $14.7 million on May 12, 2026. AI-enhanced wearable headsets for always-on personal AI agents. Viaim is based in Hong Kong.  Website: www.viaim.ai/en</p><p><strong>Aumet</strong> raised $12 million from Emkan Capital on May 13, 2026. Platform connecting medical manufacturers and distributors to boost sales. The CEO is Yahya Aqel. Aumet is based in Mountain View, CA, United States. Website: www.aumet.com</p><p><strong>BranchLab</strong> raised $26 million from McKesson Ventures on May 13, 2026. AI-driven patient insights for smarter healthcare marketing solutions. The CEO is Josh Walsh. BranchLab is based in New York, NY, United States. Website: www.branchlab.com</p><p><strong>Develo</strong> raised $14 million from Blueprint Equity on May 13, 2026. Software platform streamlining pediatric practice operations. Develo is based in Los Angeles, CA, United States. Website: www.develo.com</p><p><strong>Judgment Labs</strong> raised $32 million from Lightspeed Venture Partners on May 13, 2026. Continuous-improvement platform for monitoring and fixing AI agents. Judgment Labs is based in San Francisco, CA, United States. Website: www.judgmentlabs.ai</p><p><strong>Mantle8</strong> raised $36.3 million from Sandwater on May 13, 2026. Natural hydrogen exploration using advanced geological models and imaging. The CEO is Emmanuel Masini. Mantle8 is based in Sassenage, France. Website: www.mantle8.com</p><p><strong>Outmarket AI</strong> raised $17 million from Permanent Capital Ventures on May 13, 2026. AI-driven platform transforming commercial insurance operations. The CEO is Vishal Sankhla. Outmarket AI is based in San Francisco, CA, United States. Website: www.outmarket.ai</p><p><strong>Sonomind</strong> raised $23.4 million from Critical Path Ventures and Bpifrance on May 13, 2026. New treatment method for psychiatric disorders like depression and anxiety. Sonomind is based in Paris, France. Website: www.sonomind.com</p><p><strong>Vector</strong> raised $10 million from SignalFire and HubSpot Ventures on May 13, 2026. Contact-level B2B advertising and AI ad automation platform. Vector is based in Boston, MA, United States. Website: www.vector.co</p><p><strong>CREW Carbon</strong> raised $19 million from Burnt Island Ventures on May 14, 2026. Greenhouse gas emissions removal from wastewater using enhanced weathering. The CEO is Joachim Katchinoff. CREW Carbon is based in Hamden, CT, United States. Website: www.crewcarbon.com</p><p><strong>GovWell</strong> raised $25 million from Insight Partners on May 14, 2026. Modern software products to improve government services. The CEO is Troy LeCaire. GovWell is based in New York, NY, United States. Website: www.govwell.com</p><p><strong>Nectar Social</strong> raised $30 million from Menlo Ventures and its Anthology Fund on May 14, 2026. Agentic social commerce technology converting organic channels into income. The CEO is Misbah Uraizee. Nectar Social is based in Seattle, WA, United States. Website: www.nectarsocial.com</p><p><strong>Onramp</strong> raised $12.5 million at a $135 million valuation from Early Riders on May 14, 2026. Multi-party bitcoin custody solution for institutional investors. The CEO is Michael Tanguma. Onramp is based in Austin, TX, United States. Website: www.onrampbitcoin.com</p><p><strong>Optura</strong> raised $17.5 million from Salesforce Ventures on May 14, 2026. AI orchestration platform for unified healthcare solutions. The CEO is Andy Fanning. Optura is based in Nashville, TN, United States. Website: www.optura.ai</p><p><strong>Stitch</strong> raised $25 million from Andreessen Horowitz on May 14, 2026. Unified platform for banking and payments products. Stitch is based in Riyadh, Saudi Arabia. Website: www.stitch.co</p><p><strong>Wirestock</strong> raised $23 million from Nava Ventures on May 14, 2026. AI-powered platform for distributing and licensing visual content. The CEO is Mikayel Khachatryan. Wirestock is based in San Jose, CA, United States. Website: www.wirestock.io</p><p><strong>Arkeus</strong> raised $18 million at a $100 million valuation from QIC Ventures on May 15, 2026. Quick design and production of autonomous optical capabilities for SISR. Arkeus is based in Port Melbourne, Australia. Website: www.arkeus.com</p><p><strong>Gridcare</strong> raised $64 million from Sutter Hill Ventures and John Doerr on May 15, 2026. One-stop power solution for energy security in AI data centers. Gridcare is based in Redwood City, CA, United States. Website: www.gridcare.ai<br></p><p><strong>Three Most Interesting Deals</strong></p><p><strong>HavocAI ($100M): </strong>HavocAI&#8217;s $100M Series A is a strong signal that maritime autonomy has moved from prototypes to scaled deployment, especially in defense-adjacent markets where budgets and urgency are high. Maritime is one of the hardest autonomy environments (navigation, comms, safety, adversarial conditions), so a round of this size suggests meaningful technical de-risking and customer pull. The dual-use angle (defense + commercial maritime) expands TAM while keeping near-term procurement-driven revenue in view. This financing also underscores continued investor appetite for autonomy platforms that can compound with data and hardware integration moats.</p><p><strong>Gridcare ($64M from Sutter Hill Ventures and John Doerr): </strong>Gridcare&#8217;s $64M raise highlights a critical bottleneck in AI infrastructure: reliable, fast-to-deploy power for data centers amid grid constraints. As AI compute demand accelerates, &#8220;energy security&#8221; becomes a gating factor for capacity expansion, making power orchestration and procurement a strategically central layer of the stack. The round signals that investors view power solutions as an enabling infrastructure category, not a peripheral cost center. If Gridcare can bundle generation, storage, and grid services into a one-stop offering, it can become embedded in data-center siting and expansion decisions.</p><p><strong>Star Catcher ($65M from B Capital, Shield Capital, and Cerberus Ventures): </strong>Star Catcher&#8217;s $65M financing stands out for tackling a foundational constraint in space operations: reliable power delivery to satellites and orbital infrastructure. Positioning as an &#8220;energy grid for space&#8221; implies a platform play that could enable longer missions, higher payload power, and new classes of services as the number of satellites grows. The strategic importance is amplified by the broader commercialization of space and rising defense interest in resilient orbital capabilities. A round of this scale indicates investors believe the path to deployment and partnerships in the space ecosystem is credible, despite the capital intensity and technical risk.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series C activity: Q1 2026]]></title><description><![CDATA[There were 90 Series Cs in the last quarter that raised a total of $11.9 billion. The average deal size was $132.0 million while the median was $72.5 million.]]></description><link>https://postround.substack.com/p/series-c-activity-q1-2026</link><guid isPermaLink="false">https://postround.substack.com/p/series-c-activity-q1-2026</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Wed, 13 May 2026 13:21:55 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!F2m5!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb9a916ed-e907-48cc-b2a9-60302cfd1e8d_1748x522.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series C deals done worldwide (ex-China) where amount raised is greater than $15M and the company is not focused on therapeutics.</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!F2m5!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb9a916ed-e907-48cc-b2a9-60302cfd1e8d_1748x522.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!F2m5!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb9a916ed-e907-48cc-b2a9-60302cfd1e8d_1748x522.png 424w, https://substackcdn.com/image/fetch/$s_!F2m5!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb9a916ed-e907-48cc-b2a9-60302cfd1e8d_1748x522.png 848w, https://substackcdn.com/image/fetch/$s_!F2m5!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb9a916ed-e907-48cc-b2a9-60302cfd1e8d_1748x522.png 1272w, https://substackcdn.com/image/fetch/$s_!F2m5!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb9a916ed-e907-48cc-b2a9-60302cfd1e8d_1748x522.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!F2m5!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb9a916ed-e907-48cc-b2a9-60302cfd1e8d_1748x522.png" width="1456" height="435" 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srcset="https://substackcdn.com/image/fetch/$s_!F2m5!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb9a916ed-e907-48cc-b2a9-60302cfd1e8d_1748x522.png 424w, https://substackcdn.com/image/fetch/$s_!F2m5!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb9a916ed-e907-48cc-b2a9-60302cfd1e8d_1748x522.png 848w, https://substackcdn.com/image/fetch/$s_!F2m5!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb9a916ed-e907-48cc-b2a9-60302cfd1e8d_1748x522.png 1272w, https://substackcdn.com/image/fetch/$s_!F2m5!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb9a916ed-e907-48cc-b2a9-60302cfd1e8d_1748x522.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series C Deals</strong></h2><p><strong>DayOne</strong> raised $2 billion from Coatue on January 5, 2026. Data center capacity development across strategic Asian locations. DayOne is based in Singapore. Website: www.dayonedc.com</p><p><strong>Swap</strong> raised $100 million from DST Global and ICONIQ on January 7, 2026. Software company specializing in e-commerce returns and exchanges. Swap is based in London, United Kingdom. Website: www.swap-commerce.com</p><p><strong>Luxury Presence</strong> raised $22 million from Bessemer Venture Partners on January 8, 2026. Technology and marketing tools for real estate professionals. The CEO is Malte Kramer. Luxury Presence is based in Santa Monica, CA, United States. Website: www.luxurypresence.com</p><p><strong>Pomelo Care</strong> raised $92 million at a $1.7 billion valuation from Stripes on January 8, 2026. Health technology company providing digital care coordination solutions. The CEO is Marta Bralic. Pomelo Care is based in New York, NY, United States. Website: www.pomelocare.com</p><p><strong>Ukko</strong> raised $45 million from Israel Biotech Fund on January 8, 2026. Biotech firm creating safe immunotherapies for allergies and immune disorde. The CEO is Uri Lopatin, MD. Ukko is based in Palo Alto, CA, United States. Website: www.ukko.us</p><p><strong>Rain</strong> raised $250 million at a $1.9 billion valuation from ICONIQ on January 9, 2026. Infrastructure for stablecoin wallets and payment solutions via API. The CEO is Farooq M.. Rain is based in New York, NY, United States. Website: www.rain.xyz</p><p><strong>bit.bio</strong> raised $50 million from M&amp;G Investments on January 9, 2026. Engineered human cell products for biomedical research and therapy. bit.bio is based in Cambridge, United Kingdom. Website: www.bit.bio</p><p><strong>Deepgram</strong> raised $130 million at a $1.3 billion valuation from AVP on January 13, 2026. Voice AI platform offering speech-to-text and text-to-speech APIs. The CEO is Scott Stephenson. Deepgram is based in San Francisco, CA, United States. Website: www.deepgram.com</p><p><strong>Pee Safe</strong> raised $32.1 million from OrbiMed Asia Partners on January 14, 2026. Personal hygiene products including toilet seat sanitizer and feminine care. The CEO is Vikas Bagaria. Pee Safe is based in Gurgaon, India. Website: www.peesafe.com</p><p><strong>Quadric</strong> raised $30 million from ACCELERATE Fund on January 14, 2026. Processor IP cores for System-on-Chip developers across various markets. The CEO is Veerbhan Kheterpal. Quadric is based in Burlingame, CA, United States. Website: www.quadric.io</p><p><strong>Skild AI</strong> raised $1.4 billion at a $14 billion valuation from SoftBank on January 14, 2026. AI systems enabling robots to understand and act in the physical world. The CEO is Deepak Pathak. Skild AI is based in Pittsburgh, PA, United States. Website: www.skild.ai</p><p><strong>osapiens</strong> raised $100 million at a $1 billion valuation from Decarbonization Partners on January 14, 2026. Enterprise software for managing and automating operational workflows. The CEO is Alberto Zamora. osapiens is based in Mannheim, Germany. Website: www.osapiens.com</p><p><strong>Manpuku Holdings</strong> raised $22.1 million from B Dash Ventures, Rakuten Capital and other investors on January 15, 2026. Food and beverage company specializing in sushi and Japanese cuisine. Manpuku Holdings is based in Tokyo, Japan. Website: www.manpuku-hd.jp</p><p><strong>Midnite</strong> raised $35 million from The Raine Group on January 15, 2026. Sportsbook and casino platform for sports betting and gaming. The CEO is Nicholas P. Wright. Midnite is based in London, United Kingdom. Website: www.midnite.com</p><p><strong>Mytra</strong> raised $120 million from Avenir Growth on January 15, 2026. Robotics company automating logistics with software-defined solutions. The CEO is Chris Walti. Mytra is based in South San Francisco, CA, United States. Website: www.mytra.ai</p><p><strong>Noveon Magnetics</strong> raised $215 million from One Investment Management on January 19, 2026. Proprietary magnet recycling process for high-temperature applications. The CEO is Scott Dunn. Noveon Magnetics is based in San Marcos, TX, United States. Website: www.noveon.co</p><p><strong>Pomelo</strong> raised $55 million from Kaszek and Insight Partners on January 20, 2026. Fintech infrastructure and financial services for card management. The CEO is Gaston Irigoyen. Pomelo is based in Buenos Aires, Argentina. Website: www.pomelo.la</p><p><strong>Stoik</strong> raised $23.4 million from Impala and Opera Tech Ventures on January 20, 2026. Cyber insurance company integrating cybersecurity with risk management. The CEO is Jules Veyrat. Stoik is based in Paris, France. Website: www.stoik.com/en-us</p><p><strong>Datarails</strong> raised $70 million from One Peak on January 21, 2026. Financial planning and analysis platform automating reporting and planning. Datarails is based in New York, NY, United States. Website: www.datarails.com</p><p><strong>Duetti</strong> raised $50 million from The Raine Group, a $125 million private securitization, and a $25 million credit-facility increase on January 21, 2026. Music fintech offering financial solutions for independent musicians. The CEO is Lior Tibon. Duetti is based in New York, NY, United States. Website: www.duetti.co</p><p><strong>Nasdaq Private Market</strong> raised $37.6 million from Cerity Partners on January 21, 2026. Secondary market trading venue and tech platform for private companies. The CEO is Tom Callahan. Nasdaq Private Market is based in San Francisco, CA, United States. Website: www.nasdaqprivatemarket.com</p><p><strong>Zanskar</strong> raised $115 million from Spring Lane Capital on January 21, 2026. Predictive platform for discovering geothermal resources using data. The CEO is Carl Hoiland. Zanskar is based in Salt Lake City, UT, United States. Website: www.zanskar.us</p><p><strong>Zebedee</strong> raised $40 million from Blockstream Capital Partners on January 22, 2026. Secure infrastructure for digital economies and experiences. The CEO is Simon Cowell. Zebedee is based in Hoboken, NJ, United States. Website: www.zebedee.io</p><p><strong>Cyclic Materials</strong> raised $75 million from accounts advised by T. Rowe Price Associates on January 23, 2026. Recycling services for recovering rare earth elements and critical metals. Cyclic Materials is based in Kingston, Canada. Website: www.cyclicmaterials.earth</p><p><strong>Space BD</strong> raised $15.1 million from Mitsubishi HC Capital on January 23, 2026. One-stop shop for industrialization of space technologies. The CEO is Masatoshi (Masa) Nagasaki. Space BD is based in Tokyo, Japan. Website: www.space-bd.com</p><p><strong>Antheia</strong> raised $24 million from ATHOS KG and America&#8217;s Frontier Fund on January 27, 2026. Biosynthetic production of pharmaceutical ingredients using synthetic biolo. The CEO is Christina Smolke. Antheia is based in Menlo Park, CA, United States. Website: www.antheia.bio</p><p><strong>Fiddler AI</strong> raised $30 million from RPS Ventures on January 27, 2026. Enterprise Model Performance Management for AI and MLOps. The CEO is Krishna Gade. Fiddler AI is based in Palo Alto, CA, United States. Website: www.fiddler.ai</p><p><strong>Mesh</strong> raised $75 million at a $1 billion valuation from Dragonfly Capital on January 27, 2026. Secure ecosystem for cryptocurrency transactions and financial connectivity. The CEO is Bam Azizi. Mesh is based in San Francisco, CA, United States. Website: www.meshconnect.com</p><p><strong>Rogo</strong> raised $75 million from Sequoia Capital on January 28, 2026. Secure Generative AI platform for elite financial institutions. The CEO is Gabriel Stengel. Rogo is based in New York, NY, United States. Website: www.rogo.ai</p><p><strong>Automata</strong> raised $45 million from Dimension on January 29, 2026. Robotic automation for life sciences to enhance innovation and diagnostics. Automata is based in London, United Kingdom. Website: www.automata.tech</p><p><strong>Easy Home Finance</strong> raised $30 million from Investcorp on January 29, 2026. Mortgage-tech startup providing home financing solutions. The CEO is Praveen Agrawal. Easy Home Finance is based in Mumbai, India. Website: www.easyhomefinance.in</p><p><strong>RobCo</strong> raised $100 million from Lightspeed Venture Partners and Lingotto Innovation on January 29, 2026. Innovative modular robotics platform for industrial productivity. The CEO is Roman H&#246;lzl. RobCo is based in M&#252;nchen, Germany. Website: www.robco.de/en</p><p><strong>Waabi</strong> raised $750 million from Khosla Ventures and G2 Venture Partners on January 29, 2026. Autonomous driving technology for logistics and transportation sectors. The CEO is Raquel Urtasun. Waabi is based in Toronto, Canada. Website: www.waabi.ai</p><p><strong>CesiumAstro</strong> raised $270 million from Trousdale Ventures on February 2, 2026. Communication systems for satellites and airborne platforms. The CEO is Shey Sabripour. CesiumAstro is based in Austin, TX, United States. Website: www.cesiumastro.com</p><p><strong>Fieldguide</strong> raised $75 million at a $700 million valuation from Growth Equity at Goldman Sachs Alternatives on February 2, 2026. Automation and collaboration software for Assurance and Advisory firms. The CEO is Jin Chang. Fieldguide is based in San Francisco, CA, United States. Website: www.fieldguide.io</p><p><strong>Span</strong> raised $163 million at a $600 million valuation on February 2, 2026. Products enabling rapid adoption of renewable energy for homes. The CEO is Arch Rao. Span is based in San Francisco, CA, United States. Website: www.span.io</p><p><strong>Kindred</strong> raised $85 million from NEA and Figma CEO Dylan Field and an $85M Series C led by Index Ventures, totaling $125M on February 3, 2026. Members-only house sharing network fostering trust among participants. Kindred is based in San Francisco, CA, United States. Website: www.livekindred.com</p><p><strong>Skyryse</strong> raised $300 million at a $1.1 billion valuation from Autopilot Ventures on February 3, 2026. Operating system for safer and more accessible general aviation flight. The CEO is Mark Groden. Skyryse is based in El Segundo, CA, United States. Website: www.skyryse.com</p><p><strong>Lunar Energy</strong> raised $130 million from Activate Capital and a $102 million Series D led by B Capital and Prelude Ventures on February 4, 2026. Designing clean energy products for all-electric homes and communities. The CEO is Kunal Girotra. Lunar Energy is based in Mountain View, CA, United States. Website: www.lunarenergy.com</p><p><strong>Machina Labs</strong> raised $124 million from Woven Capital, Lockheed Martin Ventures, Balerion Space Ventures and Strategic Development Fund on February 4, 2026. AI-driven automation for metal forming and fabrication processes. The CEO is Edward Mehr. Machina Labs is based in Chatsworth, CA, United States. Website: www.machinalabs.ai</p><p><strong>TRM Labs</strong> raised $70 million at a $1 billion valuation from Blockchain Capital on February 4, 2026. Blockchain intelligence for detecting crypto-related financial crime. The CEO is Esteban Casta&#241;o. TRM Labs is based in San Francisco, CA, United States. Website: www.trmlabs.com</p><p><strong>Oxide Computer Company</strong> raised $200 million from Thomas Tull&#8217;s US Innovative Technology Fund on February 10, 2026. Maker of innovative server racks for on-premises compute infrastructure. The CEO is Steve Tuck. Oxide Computer Company is based in Emeryville, CA, United States. Website: www.oxide.computer</p><p><strong>Solace</strong> raised $130 million at a $1 billion valuation from IVP on February 10, 2026. Digital health platform connecting patients with mental health advocates. The CEO is Jeremy Gurewitz. Solace is based in Redwood City, CA, United States. Website: www.solace.health</p><p><strong>Supertails</strong> raised $30 million from Venturi Partners on February 10, 2026. Digital platform for pet care with products, services, and telehealth. Supertails is based in Bangalore, India. Website: www.supertails.com</p><p><strong>GitGuardian</strong> raised $50 million from Insight Partners on February 11, 2026. Non-Human Identity security solutions for code and sensitive information. GitGuardian is based in Paris, France. Website: www.gitguardian.com</p><p><strong>Loyal</strong> raised $100 million from age1 on February 11, 2026. Biotechnology company developing medicines to extend dog lifespan. The CEO is Celine Halioua. Loyal is based in San Francisco, CA, United States. Website: www.loyalfordogs.com</p><p><strong>Nucleus Security</strong> raised $20 million at a $100 million valuation from Delta-v Capital on February 11, 2026. Vulnerability management and security operations enhancement tools. The CEO is Stephen Carter. Nucleus Security is based in Sarasota, FL, United States. Website: www.nucleussec.com</p><p><strong>Lassie</strong> raised $75 million from Balderton Capital, Felix Capital, Inventure, Passion Capital, and Stena Sessan on February 12, 2026. Digital pet insurance services to reduce injury risk. The CEO is Hedda B&#229;verud Olsson. Lassie is based in Stockholm, Sweden. Website: www.lassie.co</p><p><strong>Codoxo</strong> raised $35 million from CVS Health Ventures on February 17, 2026. AI-powered software for healthcare claims analysis and cost containment. The CEO is Musheer Ahmed. Codoxo is based in Duluth, GA, United States. Website: www.codoxo.com</p><p><strong>NOT A HOTEL</strong> raised $16.9 million on February 17, 2026. Membership service for switching between home and hotel stays. The CEO is Shinji Hamazuru. NOT A HOTEL is based in Tokyo, Japan. Website: www.notahotel.com</p><p><strong>Render</strong> raised $100 million at a $1.5 billion valuation from Georgian on February 17, 2026. Cloud platform for developers to host applications and websites. The CEO is Anurag Goel. Render is based in San Francisco, CA, United States. Website: www.render.com</p><p><strong>Ascent</strong> raised $45 million from an unnamed global asset manager on February 19, 2026. Private student loan products focused on underserved borrowers. Website: www.ascentfunding.com</p><p><strong>Pepper</strong> raised $50 million from Lead Edge Capital on February 23, 2026. eCommerce platform for food distributors with AI-powered tools. The CEO is Bowie Cheung. Pepper is based in New York, NY, United States. Website: www.usepepper.com</p><p><strong>Profound</strong> raised $96 million at a $1 billion valuation from Lightspeed Venture Partners on February 25, 2026. Analytics solutions for enhancing brand visibility in generative search. The CEO is James Cadwallader. Profound is based in New York, NY, United States. Website: www.tryprofound.com</p><p><strong>Whop</strong> raised $200 million at a $1.6 billion valuation from Tether on February 25, 2026. Platform providing storefronts for digital product sellers. Whop is based in Brooklyn, NY, United States. Website: www.whop.com</p><p><strong>Encord</strong> raised $60 million from Wellington Management on February 26, 2026. Unified data development platform for vision and multimodal AI. The CEO is Ulrik Stig Hansen. Encord is based in San Francisco, CA, United States. Website: www.encord.com</p><p><strong>UpGuard</strong> raised $75 million from Springcoast Partners on February 26, 2026. Cybersecurity risk assessment and management platform. The CEO is Mike Baukes. UpGuard is based in Mountain View, CA, United States. Website: www.upguard.com</p><p><strong>L.E.S.S.</strong> raised $22 million on February 27, 2026. Develops ultra-bright, ultra-thin lighting systems using laser wire technol. The CEO is Yann Tissot. L.E.S.S. is based in Renens, Switzerland. Website: www.less-sa.com</p><p><strong>Lyka Pet Food</strong> raised $67 million from LGVP on March 3, 2026. Healthy dog food subscription providing fresh, customized meals. The CEO is Anna Podolsky. Lyka Pet Food is based in Sydney, Australia. Website: www.lyka.com.au</p><p><strong>Taurex</strong> raised $40 million from major shareholder Oscar Hilt Tatum IV on March 3, 2026. Financial services platform for trading CFDs across multiple asset classes. The CEO is Nick Cooke. Taurex is based in Mayfair, United Kingdom. Website: www.tradetaurex.com</p><p><strong>PLD Space</strong> raised $209.1 million from Mitsubishi Electric Corporation on March 4, 2026. Low-cost and reliable suborbital and orbital launch services. The CEO is Ra&#250;l Torres. PLD Space is based in Elche, Spain. Website: www.pldspace.com</p><p><strong>Cognito Therapeutics</strong> raised $105 million from Morningside Ventures, IAG Capital Partners, and Starbloom Capital on March 5, 2026. Clinical-stage neurotechnology for treating neurodegenerative diseases. The CEO is Christian Howell. Cognito Therapeutics is based in Cambridge, MA, United States. Website: www.cognitotx.com</p><p><strong>Sage</strong> raised $65 million from Goldman Sachs Alternatives on March 5, 2026. Next-generation operation management system for senior living communities. Sage is based in Capabilities Next-generation, AI, United States. Website: www.sagehealth.com</p><p><strong>Science</strong> raised $230 million from Lightspeed Venture Partners, Khosla Ventures, Y Combinator, Quiet Capital and IQT on March 5, 2026. Technology developer for serious unmet medical needs. The CEO is Max Hodak. Science is based in Alameda, CA, United States. Website: www.science.xyz</p><p><strong>Sierra Space</strong> raised $550 million at a $8 billion valuation from LuminArx Capital Management on March 5, 2026. Commercial space company innovating transportation and space destinations. The CEO is Daniel Jablonsky. Sierra Space is based in Louisville, CO, United States. Website: www.sierraspace.com</p><p><strong>Amber Semiconductor, Inc.</strong> raised $30 million from new and existing investors on March 10, 2026. Developer of innovative solid-state power management technologies. The CEO is Thar Casey. Amber Semiconductor, Inc. is based in Dublin, CA, United States. Website: www.ambersi.com</p><p><strong>Moxie</strong> raised $25 million from Viewpoint Ventures on March 10, 2026. Empowering entrepreneurs to launch and grow independent MedSpas. Moxie is based in New York, NY, United States. Website: www.joinmoxie.com</p><p><strong>Oro Labs</strong> raised $100 million from Brighton Park Capital and Growth Equity at Goldman Sachs Alternatives on March 12, 2026. Procurement automation platform improving enterprise spending efficiency. The CEO is Sudhir Bhojwani. Oro Labs is based in Palo Alto, CA, United States. Website: www.orolabs.ai</p><p><strong>Tropic Biosciences</strong> raised $105 million from Forbion and Corteva on March 15, 2026. Develops high-performing tropical crop varieties using gene editing. The CEO is Gilad Gershon. Tropic Biosciences is based in London, United Kingdom. Website: www.tropic.bio</p><p><strong>Atlys</strong> raised $36 million from Susquehanna Asia Venture Capital on March 16, 2026. Dynamic software solutions provider enhancing business operations. The CEO is Mohak Nahta. Atlys is based in San Francisco, CA, United States. Website: www.atlys.com</p><p><strong>WorkOS</strong> raised $100 million at a $2 billion valuation on March 16, 2026. APIs for making applications enterprise-ready with pre-built features. The CEO is Michael Grinich. WorkOS is based in San Francisco, CA, United States. Website: www.workos.com</p><p><strong>Candex</strong> raised $40 million from HSBC and on March 17, 2026. Fintech consolidator simplifying supplier payments for large organizations. The CEO is Jeremy Lappin. Candex is based in New York, NY, United States. Website: www.candex.com</p><p><strong>Turquoise Health</strong> raised $40 million from Oak HC/FT on March 17, 2026. Health tech company simplifying healthcare administration and costs. The CEO is Chris Severn. Turquoise Health is based in San Diego, CA, United States. Website: www.turquoise.health</p><p><strong>Ultrahuman</strong> raised $43.3 million from existing backers on March 17, 2026. Longevity and health-monitoring platform with various health trackers. The CEO is Mohit Kumar. Ultrahuman is based in Bangalore, India. Website: www.ultrahuman.com</p><p><strong>XBOW</strong> raised $120 million at a $1 billion valuation from DFJ Growth and Northzone on March 18, 2026. Autonomous operation and command execution for higher-level objectives. The CEO is Oege de Moor. XBOW is based in Seattle, WA, United States. Website: www.xbow.com</p><p><strong>Advanced Navigation</strong> raised $110 million from Airtree Ventures on March 19, 2026. Navigation technologies and robotics with military-grade standards. The CEO is Xavier Orr. Advanced Navigation is based in Sydney, Australia. Website: www.advancednavigation.com</p><p><strong>Arc Boats</strong> raised $50 million from Eclipse, a16z, Menlo Ventures, Lowercarbon Capital, Necessary Ventures, and Offline Ventures on March 19, 2026. Electric boat manufacturer offering a connected boating experience. The CEO is Mitchell Lee. Arc Boats is based in Los Angeles, CA, United States. Website: www.arcboats.com</p><p><strong>Cape</strong> raised $100 million from Bain Capital Ventures and IVP on March 19, 2026. Privacy-enabling technology for secure electronic device communication. Cape is based in Arlington, VA, United States. Website: www.cape.co</p><p><strong>GeoWealth</strong> raised $42.5 million from Goldman Sachs on March 19, 2026. Turnkey asset management platform for registered investment advisors. The CEO is Colin Falls. GeoWealth is based in Chicago, IL, United States. Website: www.geowealth.com</p><p><strong>NoTraffic</strong> raised $90 million from PSG Equity on March 24, 2026. AI-powered mobility platform for traffic management and optimization. The CEO is Tal Kreisler. NoTraffic is based in Overland Park, KS, United States. Website: www.notraffic.tech</p><p><strong>Adonis</strong> raised $40 million from Quadrille Capital on March 25, 2026. Revenue intelligence and automation platform for healthcare RCM. The CEO is Akash Magoon. Adonis is based in New York, NY, United States. Website: www.adonis.io</p><p><strong>Azos</strong> raised $24 million from Kaszek and Kevin Efrusy on March 25, 2026. Personalized insurance services provider. The CEO is Rafael Cl&#243;. Azos is based in S&#227;o Paulo, Brazil. Website: www.azos.com.br</p><p><strong>Granola</strong> raised $125 million at a $1.5 billion valuation from Danny Rimer at Index Ventures on March 25, 2026. AI-powered notepad for managing meeting notes and insights. The CEO is Christopher Pedregal. Granola is based in London, United Kingdom. Website: www.granola.so</p><p><strong>Rocketlane</strong> raised $60 million from Insight Partners on March 25, 2026. PSA and client onboarding platform for collaborative project execution. The CEO is Srikrishnan Ganesan. Rocketlane is based in Wilmington, DE, United States. Website: www.rocketlane.com</p><p><strong>Cents</strong> raised $140 million from Sumeru Equity Partners on March 26, 2026. Comprehensive business management system for laundromats and dry cleaners. The CEO is Alexander Jekowsky. Cents is based in New York, NY, United States. Website: www.trycents.com</p><p><strong>Steno</strong> raised $49 million from Savano Capital Partners on March 26, 2026. Court reporting and litigation support services with deferred payments. The CEO is Greg Hong. Steno is based in Los Angeles, CA, United States. Website: www.steno.com</p><p><strong>Tevel</strong> raised $18 million from Sound Media Ventures on March 26, 2026. Flying autonomous robots for fruit-picking and harvesting optimization. The CEO is Yaniv Maor. Tevel is based in Tel Aviv, Israel. Website: www.tevel-tech.com</p><p><strong>Xona Space Systems</strong> raised $170 million from Mohari Ventures Natural Capital on March 26, 2026. Space systems providing navigation for autonomous vehicles and drones. The CEO is Brian Manning. Xona Space Systems is based in Burlingame, CA, United States. Website: www.xonaspace.com</p><p><strong>ScaleOps</strong> raised $130 million at a $800 million valuation from Insight Partners on March 30, 2026. Kubernetes resource optimization platform reducing cloud costs. The CEO is Yodar Shafrir. ScaleOps is based in New York, NY, United States. Website: www.scaleops.com</p><p><strong>Stedi</strong> raised $50 million from Addition on March 30, 2026. API-first clearinghouse enabling healthcare transaction exchanges. The CEO is Zack Kanter. Stedi is based in New York, NY, United States. Website: www.stedi.com</p><h2><strong>Three Most Interesting Deals</strong></h2><p><strong>Skild AI ($1.4B from SoftBank): </strong>Skild AI&#8217;s $1.4B raise at a $14B valuation is a defining investor signal for &#8220;physical AI&#8221; and general-purpose robotics, a category moving from pilots to platform-scale ambitions. The deal implies expectations of large, defensible moat creation through data, model performance, and integration into real-world robotic fleets. It also sets a new valuation benchmark for robotics-focused AI companies, influencing pricing and competitive dynamics across autonomy, logistics, and industrial automation. Strategically, it indicates capital markets&#8217; willingness to fund long-horizon AI infrastructure plays beyond pure software.</p><p><strong>Sierra Space ($550M from LuminArx Capital Management): </strong>Sierra Space&#8217;s $550M round at an $8B valuation highlights sustained appetite for scaled commercial space infrastructure despite cyclical sentiment in the sector. The company&#8217;s focus on space transportation and destinations positions it in high-barrier, government-adjacent markets where contracts and technical milestones can drive step-function value creation. This financing can be read as an investor bet on a maturing space supply chain and increased cadence of commercial missions. For a Series C report, it is a clear indicator of late-stage capital flowing into strategically important, capital-intensive frontier tech.</p><p><strong>Rain ($250M from ICONIQ): </strong>Rain&#8217;s $250M raise at a $1.9B valuation underscores continued institutional investment in stablecoin payments infrastructure despite volatile crypto market cycles. The strategic importance is that the company sits at the API layer for wallets and payments, a critical choke point for enterprise adoption and potential network effects. This deal signals that investors view stablecoins less as speculative assets and more as rails for cross-border payments, treasury, and fintech product innovation. It also strengthens the competitive landscape around compliance, liquidity, and integration standards for on-chain payment systems.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series A activity: Week of May 3, 2026]]></title><description><![CDATA[There were 20 Series As in the last week that raised a total of $499.2 million. The average deal size was $25.0 million while the median was $19.0 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-may-3-2026</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-may-3-2026</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Mon, 11 May 2026 17:23:24 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!j4hf!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa247c5e-6c5a-47f2-b44c-0372c820ce61_1750x520.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!j4hf!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa247c5e-6c5a-47f2-b44c-0372c820ce61_1750x520.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!j4hf!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa247c5e-6c5a-47f2-b44c-0372c820ce61_1750x520.png 424w, https://substackcdn.com/image/fetch/$s_!j4hf!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa247c5e-6c5a-47f2-b44c-0372c820ce61_1750x520.png 848w, https://substackcdn.com/image/fetch/$s_!j4hf!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa247c5e-6c5a-47f2-b44c-0372c820ce61_1750x520.png 1272w, 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data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/fa247c5e-6c5a-47f2-b44c-0372c820ce61_1750x520.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:433,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:73543,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://postround.substack.com/i/197242774?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa247c5e-6c5a-47f2-b44c-0372c820ce61_1750x520.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!j4hf!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa247c5e-6c5a-47f2-b44c-0372c820ce61_1750x520.png 424w, https://substackcdn.com/image/fetch/$s_!j4hf!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa247c5e-6c5a-47f2-b44c-0372c820ce61_1750x520.png 848w, https://substackcdn.com/image/fetch/$s_!j4hf!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa247c5e-6c5a-47f2-b44c-0372c820ce61_1750x520.png 1272w, https://substackcdn.com/image/fetch/$s_!j4hf!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa247c5e-6c5a-47f2-b44c-0372c820ce61_1750x520.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series A Deals</strong></h2><p><strong>Enzo Health</strong> raised $20 million from N47 on May 4, 2026. Documentation co-pilot for post-acute healthcare. Enzo Health is based in Lehi, UT, United States. Website: www.enzo.health</p><p><strong>CopilotKit</strong> raised $27 million from Glilot Capital, NFX and SignalFire on May 5, 2026. AI toolkit enabling agents to interact within applications. CopilotKit is based in Seattle, WA, United States. Website: www.copilotkit.ai</p><p><strong>Magrathea</strong> raised $24 million from Resource Technology Capital and Balerion Space Ventures on May 5, 2026. Carbon neutral magnesium metal production without mining. The CEO is Alexander Grant. Magrathea is based in San Francisco, CA, United States. Website: www.magratheametals.com</p><p><strong>ZyG</strong> raised $60 million at a $500 million valuation from Accel on May 5, 2026. End-to-end Operating System for scaling DTC brands with AI. ZyG is based in Herzliya, Israel. Website: www.zyg.com</p><p><strong>eleQtron</strong> raised $66.7 million from Schwarz Digits on May 5, 2026. Quantum computers using trapped ions for industrial applications. eleQtron is based in Siegen, Germany. Website: www.eleqtron.com/en</p><p><strong>CredibleX</strong> raised $15 million from Mubadala on May 6, 2026. Empowers companies to offer transparent lending solutions for SMEs. The CEO is Anand Nagaraj. CredibleX is based in Abu Dhabi, United Arab Emirates. Website: www.crediblex.io</p><p><strong>Dandelion Health</strong> raised $14 million from Healthier Capital on May 6, 2026. AI platform catalyzing innovation in healthcare applications. The CEO is Elliott Green. Dandelion Health is based in New York, NY, United States. Website: www.dandelionhealth.ai</p><p><strong>Ethos</strong> raised $22.8 million from Andreessen Horowitz on May 6, 2026. AI-driven platform matching individuals with relevant opportunities. The CEO is James Lo. Ethos is based in London, United Kingdom. Website: www.ethosrecruits.com</p><p><strong>MOSH</strong> raised $13 million from Main Street Advisors on May 6, 2026. Online health platform offering discreet clinical treatments for men. MOSH is based in Los Angeles, CA, United States. Website: www.moshlife.com</p><p><strong>Pumpkinseed</strong> raised $20 million from NFX, Future Ventures, Base4 Capital, ADVentures (Analog Devices), and Stanford University on May 6, 2026. High-speed readings of biological data. Pumpkinseed is based in Palo Alto, CA, United States. Website: www.pumpkinseed.bio</p><p><strong>Scout Space</strong> raised $18 million from Washington Harbour Partners on May 6, 2026. In-space products enhancing space safety and domain awareness. The CEO is Josiah Gruber. Scout Space is based in Reston, VA, United States. Website: www.scout.space</p><p><strong>Basata</strong> raised $21 million from Lan Xuezhao of Basis Set Ventures on May 7, 2026. AI document management platform for healthcare practices. The CEO is Kaled Alhanafi. Basata is based in Phoenix, AZ, United States. Website: www.basata.ai</p><p><strong>Jesse &amp; Ben&#8217;s</strong> raised $10 million from Greycroft on May 7, 2026. Frozen french fries cooked in beef tallow, expanding retail presence. Website: www.jesseandbens.com</p><p><strong>Meatly</strong> raised $14.1 million on May 7, 2026. Cultivated meat products specifically for pets. The CEO is Owen Ensor. Meatly is based in London, United Kingdom. Website: www.meatly.pet</p><p><strong>Nova</strong> raised $31.5 million from Chemistry on May 7, 2026. Agentic AI automating complex SAP workflows and modernization processes. Nova is based in San Francisco, CA, United States. Website: www.novaintelligence.com</p><p><strong>OpsMill</strong> raised $14 million from IRIS on May 7, 2026. Infrastructure automation simplification. OpsMill is based in Paris, France. Website: www.opsmill.com</p><p><strong>Tekst</strong> raised $13.5 million from US venture firm Elephant on May 7, 2026. Analyzes and automates business-to-business communication. The CEO is Wouter Janssen. Tekst is based in Ghent, Belgium. Website: www.tekst.com</p><p><strong>Fazeshift</strong> raised $17 million from F-Prime on May 8, 2026. AI-driven solution for automating invoicing and cash flow management. The CEO is Caitlin Leksana. Fazeshift is based in San Francisco, CA, United States. Website: www.fazeshift.com</p><p><strong>Reel Energy</strong> raised $17.6 million from Future Energy Ventures on May 8, 2026. Empowering companies to procure impactful renewable electricity. Reel Energy is based in Copenhagen, Denmark. Website: www.reel.energy/en</p><p><strong>Tessera Labs</strong> raised $60 million at a $320 million valuation from Andreessen Horowitz on May 8, 2026. Innovative XR technologies enhancing human social relationships. Tessera Labs is based in London, United Kingdom. Website: www.tesseralabs.ai<br></p><p><strong>Three Most Interesting Deals</strong></p><p><strong>CopilotKit ($27M from Glilot Capital, NFX and SignalFire):</strong> CopilotKit&#8217;s round is strategically important because it targets the interface and orchestration layer that turns enterprise AI models into usable in-app agents, where adoption bottlenecks often live. Backing from Glilot Capital, NFX, and SignalFire signals conviction that agent-native UX and deployment infrastructure can become a durable platform category rather than a feature. If CopilotKit becomes embedded in customer workflows across large enterprises, it can build strong distribution and switching-cost advantages through developer tooling and protocol adoption. This makes the company a meaningful infrastructure bet on how AI gets operationalized inside real products.</p><p><strong>ZyG ($60M from Accel): </strong>Raising $60M at a reported $500M valuation indicates the market is rewarding platforms that directly drive revenue outcomes for DTC brands, not just incremental tooling. An end-to-end operating system with AI positions ZyG to become a system-of-record/system-of-action layer, which tends to compound defensibility via data, workflows, and switching costs. The valuation provides a clean investor signal about category leadership expectations in AI commerce operations. Strategically, it highlights continued appetite for &#8220;AI + distribution&#8221; plays that can standardize fragmented brand back offices.</p><p><strong>Tessera Labs ($60M from Andreessen Horowitz): </strong>A $60M Series A at a $320M valuation is notable in XR, a category where capital has become more selective and product-market fit scrutiny is high. Positioning XR around &#8220;human social relationships&#8221; suggests a focus on core network effects and engagement loops rather than one-off enterprise pilots. The size and valuation imply strong belief in either differentiated tech (platform/IP) or early traction that can translate into a scalable ecosystem. Strategically, it signals renewed investor willingness to back XR when paired with clear consumer value and social retention dynamics.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series B activity: April 2026]]></title><description><![CDATA[There were 48 Series Bs in the last month that raised a total of $2.7 billion. The average deal size was $56.7 million while the median was $40.5 million.]]></description><link>https://postround.substack.com/p/series-b-activity-april-2026</link><guid isPermaLink="false">https://postround.substack.com/p/series-b-activity-april-2026</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Tue, 05 May 2026 12:33:55 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!7fOA!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffd22ce9e-94bc-4a8b-a21a-1bb656acdefb_1754x532.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series B deals done worldwide (ex-China) where amount raised is greater than $15M and the company is not focused on therapeutics.</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!7fOA!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffd22ce9e-94bc-4a8b-a21a-1bb656acdefb_1754x532.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!7fOA!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffd22ce9e-94bc-4a8b-a21a-1bb656acdefb_1754x532.png 424w, https://substackcdn.com/image/fetch/$s_!7fOA!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffd22ce9e-94bc-4a8b-a21a-1bb656acdefb_1754x532.png 848w, https://substackcdn.com/image/fetch/$s_!7fOA!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffd22ce9e-94bc-4a8b-a21a-1bb656acdefb_1754x532.png 1272w, https://substackcdn.com/image/fetch/$s_!7fOA!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffd22ce9e-94bc-4a8b-a21a-1bb656acdefb_1754x532.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!7fOA!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffd22ce9e-94bc-4a8b-a21a-1bb656acdefb_1754x532.png" width="1456" height="442" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/fd22ce9e-94bc-4a8b-a21a-1bb656acdefb_1754x532.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:442,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:84750,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://postround.substack.com/i/196437823?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffd22ce9e-94bc-4a8b-a21a-1bb656acdefb_1754x532.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!7fOA!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffd22ce9e-94bc-4a8b-a21a-1bb656acdefb_1754x532.png 424w, https://substackcdn.com/image/fetch/$s_!7fOA!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffd22ce9e-94bc-4a8b-a21a-1bb656acdefb_1754x532.png 848w, https://substackcdn.com/image/fetch/$s_!7fOA!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffd22ce9e-94bc-4a8b-a21a-1bb656acdefb_1754x532.png 1272w, https://substackcdn.com/image/fetch/$s_!7fOA!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffd22ce9e-94bc-4a8b-a21a-1bb656acdefb_1754x532.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series B Deals</strong></h2><p><strong>Linx Security</strong> raised $50 million from Insight Partners on April 1, 2026. Identity security platform managing the entire identity lifecycle. The CEO is Israel Duanis. Linx Security is based in New York, NY, United States. Website: www.linx.security</p><p><strong>Manna Air Delivery</strong> raised $50 million from ARK Invest and Schooner Capital on April 1, 2026. Drone delivery service enabling rapid local business logistics. The CEO is Bobby Healy. Manna Air Delivery is based in Dublin, Ireland. Website: www.manna.aero</p><p><strong>Sona</strong> raised $45 million from N47 on April 1, 2026. Workforce management application for employee scheduling and communication. Sona is based in London, United Kingdom. Website: www.getsona.com</p><p><strong>Alcatraz AI</strong> raised $50 million from BlackPeak Capital, Cogito Capital, and Taiwania Capital on April 2, 2026. Facial authentication platform using AI and 3D sensing for secure access. The CEO is Tina D&#8217;Agostin. Alcatraz AI is based in Cupertino, CA, United States. Website: www.alcatraz.ai</p><p><strong>EnerVenue</strong> raised $300 million from Full Vision Capital on April 2, 2026. Metal-hydrogen batteries for large-scale renewable energy storage. The CEO is Jorg Heinemann. EnerVenue is based in Fremont, CA, United States. Website: www.enervenue.com</p><p><strong>Palmonas</strong> raised $39.9 million at a $214.4 million valuation from Xponentia Capital and Vertex Growth Fund on April 2, 2026. Demi-fine jewellery brand. Palmonas is based in Pune, India. Website: www.palmonas.com</p><p><strong>Xoople</strong> raised $130 million from Nazca Capital on April 6, 2026. Earth intelligence company providing insights on surface changes. The CEO is Fabrizio Pirondini. Xoople is based in Madrid, Spain. Website: www.xoople.com</p><p><strong>Mappedin</strong> raised $24.5 million from Edison Partners on April 7, 2026. Indoor mapping and spatial data management solutions provider. The CEO is Hongwei Liu. Mappedin is based in Waterloo, Canada. Website: www.mappedin.com</p><p><strong>Starfish Space</strong> raised $100 million from Point72 Ventures on April 7, 2026. On-demand in-space transportation and satellite servicing solutions. Starfish Space is based in Seattle, WA, United States. Website: www.starfishspace.com</p><p><strong>Humanly.io</strong> raised $25 million from SEEK Investments, Drive Capital, Zeal Capital Partners, Converge and others on April 8, 2026. Conversational AI for automated candidate screening and selection. The CEO is Prem Kumar. Humanly.io is based in Seattle, WA, United States. Website: www.humanly.io</p><p><strong>Lucky</strong> raised $23 million from Suez Canal Bank, OneStop, DPI Venture Capital and Disruptech Ventures on April 8, 2026. App for credit products, offers, and cashback rewards. The CEO is Momtaz Moussa. Lucky is based in Cairo, Egypt. Website: www.luckyegypt.com/en</p><p><strong>MTR</strong> raised $27 million from Climate Investment on April 8, 2026. Manufacturing membrane-based separation systems for various industries. The CEO is John Gatlin. MTR is based in Newark, CA, United States. Website: www.markallengroup.com</p><p><strong>Patlytics</strong> raised $40 million from SignalFire on April 8, 2026. AI-powered patent intelligence platform for drafting and analysis. The CEO is Paul Lee. Patlytics is based in San Francisco, CA, United States. Website: www.patlytics.ai</p><p><strong>Luminai</strong> raised $38 million from Peak XV Partners on April 9, 2026. Workflow automation simplifying multi-click processes to one click. The CEO is Kesava Kirupa Dinakaran. Luminai is based in San Francisco, CA, United States. Website: www.luminai.com</p><p><strong>Somos Internet</strong> raised $40 million from Bracket Capital and Ribbit Capital on April 13, 2026. Network and telecommunications startup providing secure internet connection. Somos Internet is based in Medell&#237;n, Colombia. Website: www.somosinternet.co</p><p><strong>pH7</strong> raised $32 million from Fine Structure Ventures on April 13, 2026. Sustainable extraction and refining of strategic metals for cleantech. The CEO is Mohammad Doostmohammadi. pH7 is based in Burnaby, Canada. Website: www.ph7technologies.ca</p><p><strong>Bluefish</strong> raised $43 million from Threshold Ventures and NEA on April 14, 2026. AI-driven marketing solutions for brands to engage consumers online. The CEO is Alex Sherman. Bluefish is based in New York, NY, United States. Website: www.bluefishai.com</p><p><strong>Synera</strong> raised $41.1 million from Revaia on April 14, 2026. AI platform for engineering that accelerates product development. The CEO is Dr. Moritz Maier. Synera is based in Bremen, Germany. Website: www.synera.io</p><p><strong>Turion Space</strong> raised $75 million from Washington Harbour Partners on April 15, 2026. Spacecraft for removing debris and servicing operational satellites. The CEO is Ryan Westerdahl. Turion Space is based in Irvine, CA, United States. Website: www.turionspace.com</p><p><strong>Expo</strong> raised $45 million from Georgian on April 16, 2026. Cross-platform app development with a single React codebase. Expo is based in Palo Alto, CA, United States. Website: www.expo.dev</p><p><strong>InsightFinder AI</strong> raised $15 million from Yu Galaxy on April 16, 2026. AI observability and IT management solutions using machine learning. The CEO is Xiaohui Gu. InsightFinder AI is based in Brooklyn, NY, United States. Website: www.insightfinder.com</p><p><strong>The Hosteller</strong> raised $16.1 million from PROMAFT Partners and V3 Ventures on April 16, 2026. Affordable backpacker hostels with clean and safe facilities. The CEO is Pranav Dangi. The Hosteller is based in Mumbai, India. Website: www.thehosteller.com</p><p><strong>Wealth.com</strong> raised $65 million from new investors Titanium Ventures, Pruven Capital, The K Fund and Dynasty Financial Partners on April 16, 2026. Comprehensive estate planning platform for managing and visualizing assets. The CEO is Rafael Loureiro. Wealth.com is based in Tempe, AZ, United States. Website: www.wealth.com</p><p><strong>Mintlify</strong> raised $45 million at a $500 million valuation from Andreessen Horowitz and Salesforce Ventures on April 17, 2026. Developer-focused platform for creating public-facing documentation. Mintlify is based in San Francisco, CA, United States. Website: www.mintlify.com</p><p><strong>JPYC</strong> raised $17.6 million on April 20, 2026. Community stablecoin pegged to the Japanese yen for capital liquidity. JPYC is based in Tokyo, Japan. Website: www.jpyc.jp</p><p><strong>Point2 Technology</strong> raised $76 million from Maverick Silicon on April 21, 2026. Dielectric waveguide solutions for high-speed interconnects. Point2 Technology is based in San Jose, CA, United States. Website: www.point2tech.com</p><p><strong>Courier Health</strong> raised $50 million from Oak HC/FT on April 22, 2026. Patient engagement platform for personalized healthcare experiences. The CEO is Danny Sigurdson. Courier Health is based in New York, NY, United States. Website: www.courierhealth.com</p><p><strong>Fortem Technologies</strong> raised $25 million from Lockheed Martin on April 22, 2026. AI-enabled airspace security and drone detection solutions. Fortem Technologies is based in Pleasant Grove, UT, United States. Website: www.fortemtech.com</p><p><strong>Lucra Sports</strong> raised $20 million from ARK Invest Venture Fund on April 22, 2026. Social-first sports gaming platform combining gaming and fantasy sports. The CEO is Dylan Robbins. Lucra Sports is based in Palo Alto, CA, United States. Website: www.lucrasports.com</p><p><strong>Solar Materials</strong> raised $23.5 million from new investors EIC Fund and NOVA by Saint-Gobain on April 22, 2026. Technologies for recycling photovoltaic module raw materials. The CEO is Dr. Jan-Philipp Mai. Solar Materials is based in Magdeburg, Germany. Website: www.solar-materials.com</p><p><strong>BALLAS</strong> raised $15.0 million from SMBC Edge and Z Venture Capital on April 23, 2026. Corporate information and custom construction materials provider. The CEO is Shono Kimura. BALLAS is based in Ginza, Japan. Website: www.ballas.biz</p><p><strong>Waivly</strong> raised $20 million on April 23, 2026. Digital media platform for Web3, NFTs, and crypto content. Waivly is based in San Francisco, CA, United States. Website: www.waivly.com</p><p><strong>Ethereal Machines</strong> raised $28.1 million at a $158 million valuation from Avataar Venture Partners on April 25, 2026. Innovative machines empowering engineers and designers in manufacturing. The CEO is KAUSHIK MUDDA. Ethereal Machines is based in Bangalore, India. Website: www.etherealmachines.com</p><p><strong>Orkes</strong> raised $60 million from AVP on April 26, 2026. Microservices and workflow orchestration platform with cloud hosting. The CEO is Jeu George. Orkes is based in Cupertino, CA, United States. Website: www.orkes.io</p><p><strong>Avoca</strong> raised $125 million at a $1 billion valuation from Meritech and General Catalyst on April 27, 2026. Client communication platform for business owners. Avoca is based in San Francisco, CA, United States. Website: www.avoca.ai</p><p><strong>Nervonik</strong> raised $52.5 million from Amzak Health on April 27, 2026. Opioid-free peripheral nerve stimulation system for pain management. Nervonik is based in Los Angeles, CA, United States. Website: www.nervonik.com</p><p><strong>Sereact</strong> raised $110 million from Headline on April 27, 2026. AI-based robotics for intelligent warehouse software tools. The CEO is Ralf Gulde. Sereact is based in Stuttgart, Germany. Website: www.sereact.ai</p><p><strong>Actively AI</strong> raised $45 million from TCV and First Harmonic on April 28, 2026. Superintelligence platform for revenue teams to boost pipeline and sales. Actively AI is based in New York, NY, United States. Website: www.actively.ai</p><p><strong>Forest</strong> raised $22.2 million from OKAI and existing investors including B8 Venture Partners, Fen Ventures and G&#252;il Mobility Ventures on April 28, 2026. Dockless shared e-bike service with ad support. The CEO is Agustin Guilisasti. Forest is based in London, United Kingdom. Website: www.forest.me</p><p><strong>Helical Fusion</strong> raised $16.9 million on April 28, 2026. Commercializing fusion energy using magnetic confinement technology. The CEO is Takaya Taguchi. Helical Fusion is based in Tokyo, Japan. Website: www.helicalfusion.com</p><p><strong>Firestorm</strong> raised $82 million from Washington Harbour Partners on April 29, 2026. Modular unmanned aerial systems with rapid deployment and adaptability. The CEO is Daniel Magy. Firestorm is based in San Diego, CA, United States. Website: www.launchfirestorm.com</p><p><strong>Parallel</strong> raised $100 million at a $2 billion valuation from Sequoia on April 29, 2026. Technology company adapting the web for artificial intelligences. Parallel is based in Palo Alto, CA, United States. Website: www.parallel.ai</p><p><strong>SPREAD AI</strong> raised $30 million from new investors DTCP Growth, IQT, OTB Ventures, Salesforce, and Thesiger Capital on April 29, 2026. Product data accessibility and actionable insights for engineering teams. SPREAD AI is based in Berlin, Germany. Website: www.spread.ai</p><p><strong>Sahi</strong> raised $33 million at a $200 million valuation from Accel on April 29, 2026. Next-generation trading platform for retail and professional traders. Sahi is based in Bangalore, India. Website: www.sahi.com</p><p><strong>JuliaHub</strong> raised $65 million from Dorilton Capital on April 30, 2026. Single platform for modeling, simulation, and high-performance computing. The CEO is Viral Shah. JuliaHub is based in Cambridge, MA, United States. Website: www.juliahub.com</p><p><strong>Kimbal Technologies</strong> raised $22 million from GEF Capital Partners on April 30, 2026. Smart grid solutions and mobile app for monitoring crystal meters. The CEO is Ayush Sinhal. Kimbal Technologies is based in New Delhi, India. Website: www.kimbal.io</p><p><strong>ROSI</strong> raised $23.4 million from InnoEnergy, CMA CGM, the European Innovation Council (EIC), Spanish family office G3T, Finadvice, and Swiss and Polish family offices on April 30, 2026. Innovative recycling technologies for the photovoltaic industry. The CEO is Yun Luo. ROSI is based in Grenoble, France. Website: www.rosi-solar.com</p><h2><strong>Three Most Interesting Deals</strong></h2><p><strong>EnerVenue ($300M from Full Vision Capital): </strong>EnerVenue&#8217;s $300M Series B is a major signal for long-duration energy storage, a category critical to scaling renewables and grid resilience. The round size suggests strong conviction that metal-hydrogen chemistry can compete on cost, safety, and cycle life versus lithium and emerging alternatives. If EnerVenue executes, it can become a key enabling infrastructure provider for utilities and large commercial customers. This deal also indicates increasing willingness of growth investors to fund capital-intensive climate hardware at scale.</p><p><strong>Parallel ($100M from Sequoia): </strong>Parallel&#8217;s $100M Series B at a reported $2.0B valuation is a standout investor signal that &#8220;AI-native web infrastructure&#8221; is emerging as a platform category. The valuation implies expectations of outsized network effects and a developer/standards-driven wedge rather than a narrow application play. Strategically, it points to a shift where products are being redesigned for AI agents as primary users, which could reshape distribution and monetization across the web. This deal is important as an early marker of a potentially foundational layer in the AI stack.</p><p><strong>Starfish Space ($100M from Point72 Ventures): </strong>Starfish Space&#8217;s $100M Series B highlights accelerating commercial demand for in-orbit servicing, where successful missions can unlock recurring revenue tied to satellite life extension and logistics. The category is strategically important as satellite constellations grow and operators prioritize uptime, maneuverability, and end-of-life management. A round of this size suggests investors see a realistic path from demonstrations to scaled contracts with commercial and government buyers. It also reinforces that &#8220;space infrastructure&#8221; is moving beyond launch into services that improve the economics of existing assets.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series A activity: Week of April 26, 2026]]></title><description><![CDATA[There were 27 Series As in the last week that raised a total of $733.6 million. The average deal size was $27.2 million while the median was $15.2 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-april-26</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-april-26</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Mon, 04 May 2026 15:26:24 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!OGqv!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed64e584-ab7a-409c-9a66-c450ed78de1b_1750x532.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!OGqv!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed64e584-ab7a-409c-9a66-c450ed78de1b_1750x532.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!OGqv!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed64e584-ab7a-409c-9a66-c450ed78de1b_1750x532.png 424w, https://substackcdn.com/image/fetch/$s_!OGqv!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed64e584-ab7a-409c-9a66-c450ed78de1b_1750x532.png 848w, https://substackcdn.com/image/fetch/$s_!OGqv!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed64e584-ab7a-409c-9a66-c450ed78de1b_1750x532.png 1272w, https://substackcdn.com/image/fetch/$s_!OGqv!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed64e584-ab7a-409c-9a66-c450ed78de1b_1750x532.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!OGqv!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed64e584-ab7a-409c-9a66-c450ed78de1b_1750x532.png" width="1456" height="443" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/ed64e584-ab7a-409c-9a66-c450ed78de1b_1750x532.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:443,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:76040,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://postround.substack.com/i/196432734?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed64e584-ab7a-409c-9a66-c450ed78de1b_1750x532.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!OGqv!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed64e584-ab7a-409c-9a66-c450ed78de1b_1750x532.png 424w, https://substackcdn.com/image/fetch/$s_!OGqv!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed64e584-ab7a-409c-9a66-c450ed78de1b_1750x532.png 848w, https://substackcdn.com/image/fetch/$s_!OGqv!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed64e584-ab7a-409c-9a66-c450ed78de1b_1750x532.png 1272w, https://substackcdn.com/image/fetch/$s_!OGqv!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed64e584-ab7a-409c-9a66-c450ed78de1b_1750x532.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series A Deals</strong></h2><p><strong>Golden Child</strong> raised $37 million from Redpoint Ventures on April 27, 2026. Golden Child is a premium dog nutrition startup offering fresh frozen meals and a shelf-stable topper product called Drizzle. Golden Child is based in Miami, FL, United States. Website: mygoldenchild.com</p><p><strong>Quantum Art</strong> raised $40 million from Bedford Ridge Capital on April 27, 2026. Developer of full-stack quantum computing system technology. The CEO is Tal David. Quantum Art is based in Ness Ziona, Israel. Website: www.quantum-art.tech</p><p><strong>QuoIntelligence</strong> raised $8.6 million from Elevator Ventures and co-led by BMH Beteiligungs Managementgesellschaft Hessen on April 27, 2026. Digital risk protection and threat intelligence solutions for organizations. The CEO is Marco Riccardi. QuoIntelligence is based in Frankfurt, Germany. Website: quointelligence.eu</p><p><strong>mmTron</strong> raised $45 million from Kenneth Safar at Maverick Silicon on April 27, 2026. RF products with supply chain oversight and testing services. The CEO is Seyed A. Tabatabaei. mmTron is based in Redwood City, CA, United States. Website: mmtron.com</p><p><strong>Belo</strong> raised $14 million from stablecoin issuer Tether on April 28, 2026. Payment platform for Latin American remote workers to manage finances. The CEO is Manuel Beaudroit. Belo is based in Dover, DE, United States. Website: www.belo.app</p><p><strong>Clarasight</strong> raised $11.5 million from AlleyCorp on April 28, 2026. Carbon reduction platform for employee engagement and sustainability goals. Clarasight is based in New York, NY, United States. Website: www.clarasight.com</p><p><strong>HyugaLife</strong> raised $10.6 million from IvyCap Ventures on April 28, 2026. E-commerce platform for authentic health and wellness products. The CEO is Anvi Shah. HyugaLife is based in Mumbai, India. Website: hyugalife.com</p><p><strong>Manifest OS</strong> raised $60 million at a $750 million valuation from Menlo Ventures alongside Kleiner Perkins, First Round Capital, and Quiet Capital on April 28, 2026. AI-native platform for fixed-fee and outcomes-based legal services. Manifest OS is based in New York, NY, United States. Website: manifestos.com</p><p><strong>Novio</strong> raised $10.6 million from Cornerstone Ventures on April 28, 2026. RuPay credit cards backed by user fixed deposits with no credit checks. Novio is based in Mumbai, India. Website: www.novio.in</p><p><strong>OpenLight</strong> raised $50 million from Matter Venture Partners on April 28, 2026. Manufacturing industry company. The CEO is Adam Carter. OpenLight is based in Goleta, CA, United States. Website: openlightphotonics.com</p><p><strong>Performativ</strong> raised $14 million from Deutsche B&#246;rse Group on April 28, 2026. Financial reporting platform for financial services and investment firms. The CEO is Albert Geisler Fox. Performativ is based in Copenhagen, Denmark. Website: performativ.com</p><p><strong>Axoft</strong> raised $55 million from C.P. Group Innovation on April 29, 2026. Bioinspired implant enhancing communication with the nervous system. The CEO is Paul Le Floch. Axoft is based in Cambridge, MA, United States. Website: www.axoft.us</p><p><strong>Bug Bounty Switzerland</strong> raised $15.2 million on April 29, 2026. Collaborates with ethical hackers to enhance cybersecurity and trust. The CEO is Sandro Nafzger. Bug Bounty Switzerland is based in Luzern, Switzerland. Website: www.bugbounty.ch/en</p><p><strong>Dodai</strong> raised $8 million from Value Chain Innovation Fund, UTokyo Innovation Platform Co on April 29, 2026. Manufacturer and assembler of electric motorcycles. Dodai is based in New Castle, DE, United States. Website: dodai.co</p><p><strong>Hypervision Surgical</strong> raised $22.9 million on April 29, 2026. AI-powered hyperspectral imaging for safer and faster surgeries. The CEO is Michael Ebner. Hypervision Surgical is based in London, United Kingdom. Website: hypervisionsurgical.com</p><p><strong>OpenObserve</strong> raised $10 million from Nexus Venture Partners and Dell Technologies Capital on April 29, 2026. Open source observability platform for petabyte scale data. OpenObserve is based in San Francisco, CA, United States. Website: openobserve.ai</p><p><strong>ROCSYS</strong> raised $13 million from Capricorn Partners on April 29, 2026. Automated solutions for professional EV charging sites. The CEO is Crijn Bouman. ROCSYS is based in Delft, The Netherlands. Website: www.rocsys.com</p><p><strong>Scout AI</strong> raised $100 million from Align Ventures and Draper Associates on April 29, 2026. Robotic foundation model for defense applications. The CEO is Colby Adcock. Scout AI is based in Sunnyvale, CA, United States. Website: scoutco.ai</p><p><strong>definity</strong> raised $12 million from GreatPoint Ventures on April 29, 2026. Data application observability and remediation platform for engineers. The CEO is Roy Daniel. definity is based in Chicago, IL, United States. Website: definity.ai</p><p><strong>mbiomics</strong> raised $35.1 million from existing investors including MIG Fonds and Bayern Kapital on April 29, 2026. Biotechnology company focused on innovative solutions. The CEO is Johannes B. Woehrstein. mbiomics is based in Munich, Germany. Website: www.mbiomics.com</p><p><strong>Featherless.ai</strong> raised $20 million from AMD Ventures and Airbus Ventures on April 30, 2026. Serverless AI hosting provider with GPU orchestration system. Featherless.ai is based in San Francisco, CA, United States. Website: featherless.ai</p><p><strong>GGWP</strong> raised $15.1 million from Smilegate Investment, Korea Investment Partners, and Headline Asia on April 30, 2026. Gaming tool to reduce toxicity and disruption in games. The CEO is Dennis Fong. GGWP is based in San Francisco, CA, United States. Website: www.ggwp.com</p><p><strong>Gymkhana Fine Foods</strong> raised $8.5 million from CAVU Consumer Partners on April 30, 2026. Retail entity of an elite Indian restaurant. The CEO is Gulrez Arora. Gymkhana Fine Foods is based in London, United Kingdom. Website: us.gymkhanafinefoods.com</p><p><strong>Photon Health</strong> raised $16 million from Healthier Capital on April 30, 2026. Modern prescription management network. The CEO is Otto Sipe. Photon Health is based in Brooklyn, NY, United States. Website: photonhealth.com</p><p><strong>StudentCrowd</strong> raised $9.5 million from YFM Equity Partners and backed by the Midlands Engine Investment Fund II via Mercia Ventures on April 30, 2026. Online platform for student reviews on accommodation and courses. StudentCrowd is based in Loughborough, United Kingdom. Website: www.studentcrowd.com</p><p><strong>Casa</strong> raised $20 million on May 1, 2026. Home management platform using lidar and machine learning for maintenance. Casa is based in San Francisco, CA, United States. Website: trycasa.com</p><p><strong>Fun</strong> raised $72 million from Multicoin Capital and SignalFire on May 1, 2026. Backend payment infrastructure for crypto and fiat currency transactions. Fun is based in New York, NY, United States. Website: fun.xyz<br></p><p><strong>Three Most Interesting Deals</strong></p><p><strong>Scout AI ($100M from Align Ventures and Draper Associates): </strong>Scout AI&#8217;s $100M raise is the clearest investor signal of the week and positions the company as a major contender in robotic foundation models. Defense-focused autonomy is becoming a top funding priority given procurement tailwinds and geopolitical urgency, making this category strategically important beyond the headline size. If Scout AI can translate frontier-model progress into deployable hardware + software systems, it could anchor a platform business with long-duration government contracts. The round also reinforces that top-tier capital is concentrating into a few leaders in embodied AI.</p><p><strong>Manifest OS ($60M from Menlo Ventures alongside Kleiner Perkins, First Round Capital, and Quiet Capital): </strong>Manifest OS raised $60M at a disclosed $750M valuation, making it one of the most meaningful price points for AI-native legal services this period. Its focus on fixed-fee and outcomes-based delivery signals a shift from productivity tools to business-model transformation in professional services. The valuation provides a clear benchmark for how markets are underwriting AI-driven service platforms with repeatable delivery and strong gross margin potential. This deal matters as an indicator that buyers and investors are increasingly comfortable with AI taking responsibility for measurable outcomes, not just workflows.</p><p><strong>Quantum Art ($40M from Bedford Ridge Capital): </strong>Quantum Art&#8217;s $40M round highlights sustained conviction in full-stack quantum computing, a category with large strategic and national-competitiveness implications. Full-stack approaches can capture more value than component plays by controlling hardware, software, and system integration, which is where defensibility often emerges. Israel&#8217;s ecosystem and security-adjacent talent base add credibility and potential downstream partnerships. Even with long timelines, this financing signals continued appetite for deep tech platforms that could reshape compute over the next decade.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series A activity: Week of April 19, 2026]]></title><description><![CDATA[There were 25 Series As in the last week that raised a total of $474.2 million. The average deal size was $19.0 million while the median was $15.0 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-april-19</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-april-19</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Mon, 27 Apr 2026 15:33:34 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!A60m!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd935b361-7ca5-4c69-9e7c-77a2e688afe1_1746x528.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!A60m!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd935b361-7ca5-4c69-9e7c-77a2e688afe1_1746x528.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!A60m!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd935b361-7ca5-4c69-9e7c-77a2e688afe1_1746x528.png 424w, https://substackcdn.com/image/fetch/$s_!A60m!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd935b361-7ca5-4c69-9e7c-77a2e688afe1_1746x528.png 848w, https://substackcdn.com/image/fetch/$s_!A60m!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd935b361-7ca5-4c69-9e7c-77a2e688afe1_1746x528.png 1272w, https://substackcdn.com/image/fetch/$s_!A60m!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd935b361-7ca5-4c69-9e7c-77a2e688afe1_1746x528.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!A60m!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd935b361-7ca5-4c69-9e7c-77a2e688afe1_1746x528.png" width="1456" height="440" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/d935b361-7ca5-4c69-9e7c-77a2e688afe1_1746x528.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:440,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:84573,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://postround.substack.com/i/195641014?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd935b361-7ca5-4c69-9e7c-77a2e688afe1_1746x528.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!A60m!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd935b361-7ca5-4c69-9e7c-77a2e688afe1_1746x528.png 424w, https://substackcdn.com/image/fetch/$s_!A60m!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd935b361-7ca5-4c69-9e7c-77a2e688afe1_1746x528.png 848w, https://substackcdn.com/image/fetch/$s_!A60m!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd935b361-7ca5-4c69-9e7c-77a2e688afe1_1746x528.png 1272w, https://substackcdn.com/image/fetch/$s_!A60m!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd935b361-7ca5-4c69-9e7c-77a2e688afe1_1746x528.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series A Deals</strong></h2><p><strong>Ayr Energy</strong> raised $25 million from Energy Impact Partners on April 19, 2026. Designs and manufactures power transformers and electrical equipment. The CEO is Anirudh Reddy. Ayr Energy is based in Houston, TX, United States. Website: www.ayr.energy</p><p><strong>AlixLabs</strong> raised $17.7 million on April 20, 2026. Nanostructure fabrication using atomic layer etching process. The CEO is Dr. Jonas Sundqvist. AlixLabs is based in Lund, Sweden. Website: www.alixlabs.com</p><p><strong>Archil</strong> raised $11 million from Standard Capital on April 20, 2026. Software company providing instant access for cloud data storage. Archil is based in San Francisco, CA, United States. Website: archil.com</p><p><strong>Dnotitia</strong> raised $61.1 million from Elohim Partners on April 20, 2026. AI company specializing in vector databases and language models. Dnotitia is based in Seoul, South Korea. Website: dnotitia.com/en</p><p><strong>Planetary</strong> raised $20.0 million from Radikal Capital and Oetker Ventures on April 20, 2026. Global infrastructure platform for biotech-enabled food alternatives. Planetary is based in Geneva, Switzerland. Website: www.planetarygroup.ch</p><p><strong>Renewable Metals</strong> raised $12 million from existing investor Clean Energy Finance Corporation on April 20, 2026. Battery recycling company recovering critical metals without waste. Renewable Metals is based in Welshpool, Australia. Website: www.renewable-metals.com</p><p><strong>Signit</strong> raised $15 million from Raed Ventures on April 20, 2026. Contract lifecycle management platform with AI-driven workflows. Signit is based in Riyadh, Saudi Arabia. Website: signit.sa/en</p><p><strong>Bolto</strong> raised $12 million on April 21, 2026. AI-powered HR platform for hiring and managing global teams. The CEO is Mern Singh. Bolto is based in New York, NY, United States. Website: www.bolto.com</p><p><strong>Collov</strong> raised $23 million from Brightway Future Capital on April 21, 2026. Virtual interior design and shopping platform using AI and VR technology. Collov is based in Redwood City, CA, United States. Website: collovlabs.com</p><p><strong>Hata</strong> raised $8 million from Bybit on April 21, 2026. Regulated platform for cryptocurrency transactions with fiat currency. The CEO is David Low. Hata is based in Kuala Lumpur, Malaysia. Website: hata.io/en/my</p><p><strong>Monk</strong> raised $25 million from Footwork and Acrew Capital on April 21, 2026. AI-native accounts receivable platform automating invoicing and collections. Monk is based in New York, NY, United States. Website: monk.com</p><p><strong>Smart Robotics</strong> raised $11.8 million from Rotterdamse Havendraken on April 21, 2026. Flexible robotic solutions for manufacturing and intralogistics automation. The CEO is Felix Schmidt. Smart Robotics is based in Best, The Netherlands. Website: smart-robotics.io</p><p><strong>Syenta</strong> raised $26 million from Playground Global and Australia&#8217;s National Reconstruction Fund (NRF) on April 21, 2026. Enabling 2.5D and 3D chiplet stacking for semiconductor performance. Syenta is based in Sydney, Australia. Website: www.syenta.com</p><p><strong>VisioLab</strong> raised $11 million from eCAPITAL Entrepreneurial Partners and Simon Capital on April 21, 2026. Human-centric AI for sustainable agricultural decision-making. The CEO is Tim Niekamp. VisioLab is based in Osnabr&#252;ck, Germany. Website: www.visiolab.io</p><p><strong>ATMOS Space Cargo</strong> raised $30.2 million from Balnord and Expansion on April 22, 2026. Develops space capsules for cargo return from space and microgravity. The CEO is Sebastian Klaus. ATMOS Space Cargo is based in Baden-Baden, Germany. Website: atmos-space-cargo.com</p><p><strong>Amperos Health</strong> raised $16 million from Bessemer Venture Partners on April 22, 2026. AI billing solution for healthcare providers. The CEO is Michal Miernowski. Amperos Health is based in New York, NY, United States. Website: www.amperoshealth.com</p><p><strong>BetHog</strong> raised $10 million from Will Ventures and RockawayX on April 22, 2026. Crypto sports betting platform. The CEO is Nigel Eccles. BetHog is based in New York, NY, United States. Website: www.bethog.com</p><p><strong>Mosaic</strong> raised $18 million from Radical Ventures on April 22, 2026. Digital deal modeling software platform. The CEO is Ian Gutwinski. Mosaic is based in New York, NY, United States. Website: www.mosaic.pe</p><p><strong>Omeza</strong> raised $8.5 million from Astanor and BluKap Ventures on April 22, 2026. Healthcare company focused on wound care and venous leg ulcers. The CEO is Cynthia Flowers. Omeza is based in Sarasota, FL, United States. Website: omeza.com</p><p><strong>SCATR</strong> raised $12.6 million from First In on April 22, 2026. Cybersecurity solution for protecting data across untrusted networks. SCATR is based in Cleveland, OH, United States. Website: www.scatrcorp.ai</p><p><strong>OUIDROP</strong> raised $8.2 million from Xplore by &#201;pop&#233;e Gestion, SWEN Capital Partners, GSO Innovation, Cr&#233;dit Agricole Aquitaine Expansion (CAAE) and Spring Invest on April 23, 2026. Self-service parcel drop-off and pick-up system. OUIDROP is based in Bordeaux, France. Website: ouidrop.fr/en</p><p><strong>PvX</strong> raised $10.5 million from T-Accelerate Capital on April 23, 2026. Platform providing cohort financing and growth tools for consumer apps. The CEO is Joe Wadakethalakal. PvX is based in Singapore. Website: pvxpartners.com</p><p><strong>UNIVITY</strong> raised $31.6 million from Blast, Expansion, and the Deeptech 2030 fund (managed by Bpifrance) on April 23, 2026. Telecommunications satellites providing high-speed internet connectivity. UNIVITY is based in Paris, France. Website: www.univity.global</p><p><strong>Z&#243;calo Health</strong> raised $15 million from EO Ventures on April 23, 2026. Bilingual and culturally relevant family medicine and health care services. The CEO is Erik Cardenas. Z&#243;calo Health is based in Seattle, WA, United States. Website: zocalo.health</p><p><strong>Waiv</strong> raised $35 million from CRB Digital Health III (managed by CRB Health Tech) on April 24, 2026. AI-driven platform for personalized cancer treatment and drug discovery. The CEO is Thomas Clozel. Waiv is based in New York, NY, United States. Website: wearewaiv.com<br></p><p><strong>Three Most Interesting Deals</strong></p><p><strong>Dnotitia ($61.1M from Elohim Partners): </strong>This is the largest raise of the week and a clear signal that investors continue to concentrate capital in core AI infrastructure rather than only application-layer tools. Vector databases and language-model tooling sit on the critical path for enterprise AI deployment, making the category strategically important and durable. A substantial Series A here suggests strong early traction and high expectations for platform defensibility in a crowded AI stack. The Seoul location also highlights continued strength of global AI hubs beyond the US and Western Europe.</p><p><strong>UNIVITY ($31.6M from Blast, Expansion, and the Deeptech 2030 fund):</strong> UNIVITY&#8217;s Series A is strategically important because telecom-satellite infrastructure sits at the intersection of sovereign connectivity, defense resilience, and commercial broadband expansion. The investor syndicate (Blast, Expansion, and Bpifrance&#8217;s Deeptech 2030 fund) signals institutional conviction in capital-intensive space communications infrastructure at an early stage. If UNIVITY executes on VLEO deployment and operator partnerships, it could become a critical wholesale layer for next-generation mobile and internet coverage. This is a category where early technical and regulatory execution can create durable barriers to entry.</p><p><strong>ATMOS Space Cargo ($30.2M from Balnord and Expansion): </strong>Cargo return from space is a keystone capability for microgravity manufacturing, in-orbit servicing, and resilient space logistics, making this more strategically important than many software-only rounds. A $30M+ Series A indicates meaningful conviction given the capital intensity and technical risk, which can be a strong investor signal. Europe-based space infrastructure plays are gaining momentum, and this round underscores competitive positioning against US-centric space logistics ecosystems. If execution is strong, the company could become a critical supplier to a growing set of commercial space missions.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series A activity: Week of April 12, 2026]]></title><description><![CDATA[There were 31 Series As in the last week that raised a total of $752.2 million. The average deal size was $24.3 million while the median was $17.7 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-april-12</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-april-12</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Mon, 20 Apr 2026 18:26:53 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!QY01!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F54652ec7-8d11-4f1b-85f8-509a4654d5a4_1772x542.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!QY01!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F54652ec7-8d11-4f1b-85f8-509a4654d5a4_1772x542.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!QY01!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F54652ec7-8d11-4f1b-85f8-509a4654d5a4_1772x542.png 424w, https://substackcdn.com/image/fetch/$s_!QY01!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F54652ec7-8d11-4f1b-85f8-509a4654d5a4_1772x542.png 848w, https://substackcdn.com/image/fetch/$s_!QY01!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F54652ec7-8d11-4f1b-85f8-509a4654d5a4_1772x542.png 1272w, 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srcset="https://substackcdn.com/image/fetch/$s_!QY01!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F54652ec7-8d11-4f1b-85f8-509a4654d5a4_1772x542.png 424w, https://substackcdn.com/image/fetch/$s_!QY01!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F54652ec7-8d11-4f1b-85f8-509a4654d5a4_1772x542.png 848w, https://substackcdn.com/image/fetch/$s_!QY01!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F54652ec7-8d11-4f1b-85f8-509a4654d5a4_1772x542.png 1272w, https://substackcdn.com/image/fetch/$s_!QY01!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F54652ec7-8d11-4f1b-85f8-509a4654d5a4_1772x542.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series A Deals</strong></h2><p><strong>Agnes AI</strong> raised $10 million from LOOK FORWARD VCC on April 13, 2026. AI platform for collaborative document creation and real-time editing. Agnes AI is based in Singapore. Website: agnes-ai.com</p><p><strong>Archangel Lightworks</strong> raised $13.4 million from Santander Alternative Investments on April 13, 2026. Laser communications technology for secure space-ground connectivity. Archangel Lightworks is based in London, United Kingdom. Website: www.archangel.works</p><p><strong>Citra Space</strong> raised $15 million from Washington Harbour Partners on April 13, 2026. Space object identification and characterization technology provider. Citra Space is based in Colorado Springs, CO, United States. Website: citra.space</p><p><strong>Critical Loop</strong> raised $26 million from Conifer Infrastructure Partners and Hanover on April 13, 2026. Deployable microgrids and software-driven power platforms for facilities. The CEO is Balachandar Ramamurthy. Critical Loop is based in Long Beach, CA, United States. Website: www.criticalloop.com</p><p><strong>GitButler</strong> raised $17 million from a16z on April 13, 2026. Git client for managing multiple branches and enhancing workflows. The CEO is Scott Chacon. GitButler is based in Berlin, Germany. Website: gitbutler.com</p><p><strong>Subra</strong> raised $46.8 million from Novo Holdings on April 13, 2026. High-temperature superconductor cable technology for near-zero-loss power transmission and fusion systems. Subra is based in Farum, Denmark. Website: subra.dk</p><p><strong>Common Wealth</strong> raised $8.7 million from Broadbent Group, Good &amp; Well, AgeTech Capital, Deokali Capital, Eventi Capital Partners, and Flow Capital on April 14, 2026. Digital platform offering retirement planning services. Common Wealth is based in Toronto, Canada. Website: www.commonwealthretirement.com</p><p><strong>Kelluu</strong> raised $17.6 million from the NATO Innovation Fund on April 14, 2026. Satellite constellation providing real-time aerial intelligence and data. The CEO is Janne Hietala. Kelluu is based in Joensuu, Finland. Website: kelluu.com</p><p><strong>TraqCheck</strong> raised $8 million at a $17 million valuation from IvyCap Ventures on April 14, 2026. Background verification service enhancing workplace credibility and safety. TraqCheck is based in New Delhi, India. Website: traqcheck.com</p><p><strong>wamo</strong> raised $11.7 million at a $18.5 million valuation from TCEE Fund IV (advised by 3TS Capital Partners) on April 14, 2026. Digital business account provider and growth partner for SMEs. The CEO is Yanki Onen. wamo is based in Helsinki, Finland. Website: wamo.io</p><p><strong>Agriodor</strong> raised $17.7 million from the Environmental and Solidarity Revolution Fund on April 15, 2026. Alternatives to insecticides for sustainable farming. Agriodor is based in Rennes, France. Website: agriodor.com</p><p><strong>Auctor</strong> raised $20 million from Sequoia Capital on April 15, 2026. AI-driven automation for pre-development workflows and documentation. The CEO is William Sun. Auctor is based in San Francisco, CA, United States. Website: www.getauctor.com</p><p><strong>Deccan AI Experts</strong> raised $25 million from A91 Partners on April 15, 2026. Global network of experts for data labeling and AI evaluation. Deccan AI Experts is based in Sunnyvale, CA, United States. Website: deccanexperts.ai</p><p><strong>Gizmo</strong> raised $22 million from Shine Capital on April 15, 2026. Educational software using generative AI for personalized learning. The CEO is Petros Christodoulou. Gizmo is based in London, United Kingdom. Website: gizmo.ai</p><p><strong>GobbleCube</strong> raised $15 million from Susquehanna Venture Capital on April 15, 2026. AI-powered copilot for automating revenue monitoring and RCA. GobbleCube is based in Gurgaon, India. Website: gobblecube.ai</p><p><strong>Keebler Health</strong> raised $16 million from Flare Capital Partners on April 15, 2026. AI-based risk adjustment tool for healthcare providers. The CEO is Isaac Park. Keebler Health is based in Durham, NC, United States. Website: keebler.health</p><p><strong>NanoTech Materials</strong> raised $29.4 million from HPI Real Estate &amp; Investments on April 15, 2026. Material science company using nanotechnology for fireproofing and energy efficiency. The CEO is Mike Francis. NanoTech Materials is based in Houston, TX, United States. Website: nanotechmaterials.com</p><p><strong>Parasail</strong> raised $32 million from Touring Capital and Kindred Ventures on April 15, 2026. AI deployment networking company providing secure compute solutions. Parasail is based in San Francisco, CA, United States. Website: www.parasail.io</p><p><strong>Phonely</strong> raised $16 million at a $100 million valuation from Base10 Partners on April 15, 2026. AI receptionist that answers phone calls like a person. The CEO is Will Bodewes. Phonely is based in San Francisco, CA, United States. Website: phonely.ai</p><p><strong>Seifert Dynamics</strong> raised $13.4 million at a $75 million valuation from a group of institutional and strategic investors across the defense and technology sectors (previous backer Palantir Technologies) on April 15, 2026. Operational software and infrastructure for demanding environments. Seifert Dynamics is based in Sarasota, FL, United States. Website: seifertdynamics.com</p><p><strong>Joyful Health</strong> raised $17 million from CRV on April 16, 2026. Revenue intelligence software for healthcare practices and organizations. Joyful Health is based in New York, NY, United States. Website: www.joyfulhealth.com</p><p><strong>Resolve AI</strong> raised $40 million at a $1.5 billion valuation from DST Global and Salesforce Ventures on April 16, 2026. AI platform automating software production and incident management. The CEO is Spiros Xanthos. Resolve AI is based in San Francisco, CA, United States. Website: www.resolve.ai</p><p><strong>Solidroad</strong> raised $25 million from Hedosophia on April 16, 2026. AI-powered platform for hiring, onboarding, and training enterprises. The CEO is Mark Hughes. Solidroad is based in Dublin, Ireland. Website: solidroad.com</p><p><strong>Ulysses</strong> raised $38 million from Andreessen Horowitz and an $8M seed led by pebblebed on April 16, 2026. Ocean rewilding and carbon removal to combat climate change. Ulysses is based in San Francisco, CA, United States. Website: www.ulysses.eco</p><p><strong>spektr</strong> raised $20 million from NEA on April 16, 2026. Automation-led compliance solutions to boost revenue. The CEO is Mikkel Skarnager. spektr is based in Copenhagen, Denmark. Website: www.spektr.com</p><p><strong>Artemis</strong> raised $55 million from Felicis on April 17, 2026. AI-driven security platform for monitoring and responding to attacks. Artemis is based in New York, NY, United States. Website: artemissecurity.com</p><p><strong>Ethermed</strong> raised $8.5 million from Enfield Capital Partners and Blue Marlin Partners on April 17, 2026. AI-driven platform automating prior authorizations in healthcare. Ethermed is based in Philadelphia, PA, United States. Website: www.ethermed.ai</p><p><strong>ONTO Health</strong> raised $20 million from ARTIS and Humania on April 17, 2026. Physician-led platform integrating fertility care with AI diagnostics. ONTO Health is based in Chicago, IL, United States. Website: onto.health</p><p><strong>Zenskar</strong> raised $15 million from Susquehanna Venture Capital, Bessemer Venture Partners, Shine Capital and Rho on April 17, 2026. Billing and pricing infrastructure for usage-based SaaS companies. Zenskar is based in New York, NY, United States. Website: www.zenskar.com</p><p><strong>Hilbert</strong> raised $28 million from Andreessen Horowitz on April 18, 2026. AI-native growth infrastructure for B2C businesses. The CEO is Nazli Tan. Hilbert is based in San Francisco, CA, United States. Website: hilberts.ai</p><p><strong>Sygaldry</strong> raised $105 million from Breakthrough Energy Ventures on April 18, 2026. Quantum-accelerated AI servers for faster training and inference. The CEO is Chad Rigetti. Sygaldry is based in Mountain View, CA, United States. Website: sygaldry.com<br></p><p><strong>Three Most Interesting Deals</strong></p><p><strong>Resolve AI ($40M from DST Global and Salesforce Ventures): </strong>Resolve AI&#8217;s $40.0M raise at a $1.5B valuation is a major investor signal that AI-native software production and incident management is consolidating into a platform category. The combination of Dev productivity and reliability operations implies large enterprise budgets and high switching costs if it becomes embedded in workflows. The valuation suggests strong growth expectations and a likely ecosystem play (integrations, marketplace, services layer). This is strategically important because it indicates the market is rewarding end-to-end automation rather than point tools.</p><p><strong>Artemis ($55M from Felicis): </strong>Artemis&#8217;s $55.0M round underscores sustained demand for AI-driven security platforms amid escalating attack volume and complexity. Security remains one of the clearest enterprise willingness-to-pay markets, and AI-enabled monitoring/response can expand from detection into automated remediation. The size of the round signals confidence in scaling go-to-market in a crowded space where distribution and trust matter. Strategically, this deal highlights continued capital rotation into cyber as an &#8220;always-on&#8221; budget line even in tighter macro conditions.</p><p><strong>Sygaldry ($105M from Breakthrough Energy Ventures):</strong> Sygaldry&#8217;s $105.0M Series A is strategically important because it targets one of AI&#8217;s largest constraints: compute efficiency and power demand at data-center scale. The round size and lead investor signal strong conviction that quantum-accelerated infrastructure could become a meaningful upstream layer for training and inference workloads. If the company executes, this is not just a model-speed story but a capex and energy-economics story with implications across cloud, enterprise AI, and advanced research markets. This makes Sygaldry a high-impact infrastructure bet, not simply another application-layer AI company.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series A activity: Week of April 6, 2026]]></title><description><![CDATA[There were 20 Series As in the last week that raised a total of $791.2 million. The average deal size was $39.6 million while the median was $28.5 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-april-6</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-april-6</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Tue, 14 Apr 2026 16:26:51 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!gt8N!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1bbbb9d7-0c59-44c4-9175-6359ceba9398_1764x542.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!gt8N!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1bbbb9d7-0c59-44c4-9175-6359ceba9398_1764x542.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!gt8N!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1bbbb9d7-0c59-44c4-9175-6359ceba9398_1764x542.png 424w, https://substackcdn.com/image/fetch/$s_!gt8N!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1bbbb9d7-0c59-44c4-9175-6359ceba9398_1764x542.png 848w, https://substackcdn.com/image/fetch/$s_!gt8N!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1bbbb9d7-0c59-44c4-9175-6359ceba9398_1764x542.png 1272w, https://substackcdn.com/image/fetch/$s_!gt8N!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1bbbb9d7-0c59-44c4-9175-6359ceba9398_1764x542.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!gt8N!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1bbbb9d7-0c59-44c4-9175-6359ceba9398_1764x542.png" width="1456" height="447" 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srcset="https://substackcdn.com/image/fetch/$s_!gt8N!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1bbbb9d7-0c59-44c4-9175-6359ceba9398_1764x542.png 424w, https://substackcdn.com/image/fetch/$s_!gt8N!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1bbbb9d7-0c59-44c4-9175-6359ceba9398_1764x542.png 848w, https://substackcdn.com/image/fetch/$s_!gt8N!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1bbbb9d7-0c59-44c4-9175-6359ceba9398_1764x542.png 1272w, https://substackcdn.com/image/fetch/$s_!gt8N!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1bbbb9d7-0c59-44c4-9175-6359ceba9398_1764x542.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series A Deals</strong></h2><p><strong>Stipple Bio</strong> raised $100 million from RA Capital, a16z Bio+Health and Nextech Invest on April 6, 2026. Stipple Bio is a biotechnology company using its Pointillist Platform to identify tumor-specific cell surface epitopes and develop precision oncology medicines. Stipple Bio is based in Cambridge, MA, United States. Website: stipple.bio</p><p><strong>Latent Health</strong> raised $80 million from Spark Capital and Transformation Capital on April 7, 2026. Clinical AI platform optimizing medication access and pharmacy workflows. Latent Health is based in San Francisco, CA, United States. Website: latenthealth.com</p><p><strong>Modus</strong> raised $85 million from Lightspeed Venture Partners on April 7, 2026. Modus is an AI-native audit platform that helps accounting firms perform complex audits and automate manual audit procedures. Modus is based in New York, NY, United States. Website: www.modusalliance.com</p><p><strong>Natter</strong> raised $23 million from Renegade Partners on April 7, 2026. Natter is an AI-native conversation intelligence platform that runs and analyzes real-time one-on-one video conversations at scale to generate employee and customer insights. The CEO is Charlie Woodward. Natter is based in New York, NY, United States. Website: www.trynatter.com</p><p><strong>SimpliFed</strong> raised $10 million from Morningside and Hesperia Capital on April 7, 2026. Telehealth company offering virtual breastfeeding support for parents. The CEO is Andrea Ippolito. SimpliFed is based in Ithaca, NY, United States. Website: www.simplifed.com</p><p><strong>Solfium</strong> raised $10 million from Accion and ALIVE Ventures on April 7, 2026. Solar energy solutions for homes, businesses, and industries. The CEO is Andres Friedman. Solfium is based in Montreal, Canada. Website: solfium.com</p><p><strong>Yuzu Health</strong> raised $35 million from General Catalyst and Chemistry on April 7, 2026. Automated health plan administration solutions. The CEO is Max Kauderer. Yuzu Health is based in New York, NY, United States. Website: yuzu.health</p><p><strong>GitButler</strong> raised $17 million from a16z on April 8, 2026. GitButler is a developer workflow startup building an interface and workflow layer to simplify Git and organize code changes. The CEO is Scott Chacon. GitButler is based in Berlin, Germany. Website: gitbutler.com</p><p><strong>Nas</strong> raised $27 million from Khosla Ventures on April 8, 2026. Nas is an AI platform for the solopreneur economy that builds storefronts, creates digital and physical products, writes marketing, and acquires customers for individual entrepreneurs. The CEO is Nuseir Yassin. Nas is based in New York, NY, United States. Website: nas.com</p><p><strong>Pharos</strong> raised $44 million at a $1 billion valuation from Sumitomo Corporation&#8217;s venture arm on April 8, 2026. Blockchain technology for real-world assets and decentralized finance. Pharos is based in Menlo Park, CA, United States. Website: www.pharosnetwork.xyz</p><p><strong>Recerqa</strong> raised $10.7 million from Angel Bridge on April 8, 2026. Supply chain management SaaS using AI for purchasing and inventory. The CEO is Shotaro Umeda. Recerqa is based in Tokyo, Japan. Website: recerqa.com</p><p><strong>AfterQuery</strong> raised $30 million at a $300 million valuation from Altos Ventures on April 9, 2026. AfterQuery is an applied research lab that curates high-quality datasets and reinforcement learning environments to encode and scale professional expertise for AI labs and enterprises. The CEO is Spencer Mateega. AfterQuery is based in San Francisco, CA, United States. Website: www.afterquery.com</p><p><strong>Haast</strong> raised $12 million from Peak XV Partners on April 9, 2026. AI SaaS company providing marketing compliance automation services. Haast is based in New York, NY, United States. Website: www.haast.io</p><p><strong>Nava (Kluisz.ai)</strong> raised $22 million from Greenoaks on April 9, 2026. Autonomous AI-native private cloud platform for enterprise workloads. Nava (Kluisz.ai) is based in Bengaluru, India. Website: nava.com</p><p><strong>Portal Space Systems</strong> raised $50 million from Geodesic Capital and Mach33 on April 9, 2026. Full-service space manoeuvrability solutions for tactical response. The CEO is Jeff Thornburg. Portal Space Systems is based in Bothell, WA, United States. Website: www.portalsystems.space</p><p><strong>Mastra</strong> raised $22 million from Spark Capital on April 10, 2026. Mastra is a startup that builds a TypeScript agent framework to help developers build agents. The CEO is Sam Bhagwat. Mastra is based in San Francisco, CA, United States. Website: mastra.ai</p><p><strong>Subra</strong> raised $46.8 million from Novo Holdings on April 10, 2026. Subra is a company developing innovative superconducting cable technology. Subra is based in Farum, Denmark. Website: subra.dk</p><p><strong>Aria Networks</strong> raised $125 million from Sutter Hill Ventures and Atreides Management on April 11, 2026. Aria Networks is an AI networking firm developing AI-native networks to improve data-center efficiency and token efficiency. The CEO is Mansour Karam. Aria Networks is based in Palo Alto, CA, United States. Website: arianetworks.com</p><p><strong>Origin</strong> raised $30 million from Notion Capital on April 11, 2026. Origin is an AI-native Enterprise Benefits Intelligence platform that helps global organisations manage, govern and optimise employee benefits. Origin is based in London, United Kingdom. Website: originbenefits.com</p><p><strong>neuroClues</strong> raised $11.7 million from Teampact Ventures, White Fund, and the European Innovation Council Fund on April 11, 2026. Eye-tracking technology for quantifying clinical exams. neuroClues is based in Louvain-la-Neuve, Belgium. Website: p3lab.com<br></p><p><strong>Three Most Interesting Deals</strong></p><p><strong>Aria Networks ($125M from Sutter Hill Ventures and Atreides Management): </strong>Aria Networks&#8217; $125M Series A is a strong investor signal that AI-native networking has become a priority layer in the data-center stack, not just an optimization feature. If the company can materially improve data-center efficiency and token efficiency, it targets a cost center that scales directly with AI adoption, giving it outsized budget pull. The raise size suggests expectations of rapid go-to-market and potential hyperscaler or large enterprise traction. Strategically, this deal highlights continuing convergence of infrastructure, AI performance, and energy economics.</p><p><strong>Stipple Bio ($100M from RA Capital, a16z Bio+Health and Nextech Invest): </strong>Stipple Bio&#8217;s $100M Series A points to heightened conviction in next-generation oncology precision approaches, especially those anchored in tumor-specific epitope discovery. Its platform positioning implies potential to generate multiple therapeutic programs and partnerships rather than a single-asset bet, which can accelerate value creation and de-risk pipeline building. Large early capital can fund deeper translational work, manufacturing, and clinical entry without immediate dilutive follow-ons. This is strategically notable as platform biotechs that can systematize target discovery remain highly valued despite a tougher funding environment.</p><p><strong>Pharos ($44M from Sumitomo Corporation&#8217;s venture arm): </strong>Pharos raised $44M at a $1B valuation, making it the clearest &#8220;market vote&#8221; in the batch on category leadership and near-term scale expectations. The focus on real-world assets and DeFi infrastructure aligns with renewed institutional interest in tokenization, compliance-friendly rails, and settlement modernization. A unicorn valuation at Series A signals strong strategic backers, partnerships, or traction that could shape ecosystem standards. This deal matters because it suggests the RWA stack is consolidating around a few credible platforms as regulation and enterprise adoption mature.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series B activity: March 2026]]></title><description><![CDATA[There were 62 Series Bs in the last month that raised a total of $4.3 billion. The average deal size was $69.3 million while the median was $40 million.]]></description><link>https://postround.substack.com/p/series-b-activity-march-2026</link><guid isPermaLink="false">https://postround.substack.com/p/series-b-activity-march-2026</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Tue, 07 Apr 2026 20:04:06 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!tCGT!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F153b7780-27ee-4f37-a358-69851fd412dc_1762x564.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series B deals done worldwide (ex-China) where amount raised is greater than $15M and the company is not focused on therapeutics.</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!tCGT!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F153b7780-27ee-4f37-a358-69851fd412dc_1762x564.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!tCGT!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F153b7780-27ee-4f37-a358-69851fd412dc_1762x564.png 424w, https://substackcdn.com/image/fetch/$s_!tCGT!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F153b7780-27ee-4f37-a358-69851fd412dc_1762x564.png 848w, https://substackcdn.com/image/fetch/$s_!tCGT!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F153b7780-27ee-4f37-a358-69851fd412dc_1762x564.png 1272w, https://substackcdn.com/image/fetch/$s_!tCGT!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F153b7780-27ee-4f37-a358-69851fd412dc_1762x564.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!tCGT!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F153b7780-27ee-4f37-a358-69851fd412dc_1762x564.png" width="1456" height="466" 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srcset="https://substackcdn.com/image/fetch/$s_!tCGT!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F153b7780-27ee-4f37-a358-69851fd412dc_1762x564.png 424w, https://substackcdn.com/image/fetch/$s_!tCGT!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F153b7780-27ee-4f37-a358-69851fd412dc_1762x564.png 848w, https://substackcdn.com/image/fetch/$s_!tCGT!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F153b7780-27ee-4f37-a358-69851fd412dc_1762x564.png 1272w, https://substackcdn.com/image/fetch/$s_!tCGT!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F153b7780-27ee-4f37-a358-69851fd412dc_1762x564.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series B Deals</strong></h2><p><strong>Hypercycle</strong> raised $35 million from Binance Labs and Pantera Capital on March 1, 2026. Blockchain network providing scalable infrastructure for decentralized AI. Hypercycle is based in Dubai, United Arab Emirates. Website: www.hypercycle.ai/about</p><p><strong>Pronto</strong> raised $25 million at a $100 million valuation from Epiq Capital on March 2, 2026. On-demand cleaning, laundry, and home services within 10 minutes. The CEO is Anjali Sardana. Pronto is based in Mumbai, India. Website: www.withpronto.com</p><p><strong>DeepIP</strong> raised $25 million from Korelya Capital and Serena on March 3, 2026. AI-powered tool for assisting patent prosecution in intellectual property. DeepIP is based in New York, NY, United States. Website: www.deepip.ai</p><p><strong>Flux</strong> raised $27 million from 8VC and revealed a previously unannounced $10 million Series A, totaling $37 million from investors including Bain Capital Ventures, Liquid 2 Ventures, and Outsiders Fund on March 3, 2026. AI hardware design tool streamlining electronics workflow and prototyping. The CEO is Matthias Wagner. Flux is based in San Francisco, CA, United States. Website: www.flux.ai/p</p><p><strong>RenoFi</strong> raised $22 million from Fifth Wall on March 3, 2026. Home renovation loans based on after renovation value. The CEO is Justin Goldman. RenoFi is based in Philadelphia, PA, United States. Website: renofi.com</p><p><strong>Crossover Markets Group</strong> raised $31 million at a $200 million valuation from Tradeweb on March 4, 2026. Digital asset exchange for institutional client liquidity needs. The CEO is Brandon Mulvihill. Crossover Markets Group is based in London, United Kingdom. Website: www.crossovermarkets.com</p><p><strong>RIFT</strong> raised $96.5 million from PGGM on March 4, 2026. Startup focused on sustainable clean and renewable energy solutions. RIFT is based in Eindhoven, The Netherlands. Website: www.ironfueltechnology.com</p><p><strong>Unleash</strong> raised $35 million from One Peak on March 4, 2026. Open source feature management platform for enterprises and developers. The CEO is Egil &#216;sthus. Unleash is based in Oslo, Norway. Website: getunleash.io</p><p><strong>Evervault</strong> raised $25 million from Ribbit Capital on March 5, 2026. End-to-end encryption for developers, focused on payments and PCI compliance. The CEO is Shane Curran. Evervault is based in Dublin, Ireland. Website: evervault.com</p><p><strong>Greater Good Health</strong> raised $20.5 million from Allumia Ventures on March 5, 2026. Value-based, holistic primary care in underserved communities. The CEO is Sylvia Hastanan. Greater Good Health is based in Los Angeles, CA, United States. Website: www.greatergoodhealth.com</p><p><strong>Silverflow</strong> raised $40 million from Picus Capital on March 5, 2026. Payment processing technology enabling direct card-network access. The CEO is Anne Willem De Vries. Silverflow is based in Amsterdam, The Netherlands. Website: www.silverflow.co</p><p><strong>UniverCell</strong> raised $34.9 million from DeepTech &amp; Climate Fonds on March 5, 2026. Lithium-ion batteries and energy storage systems manufacturer. UniverCell is based in Flintbek, Germany. Website: www.univercell.group</p><p><strong>Basis</strong> raised $100 million at a $1.1 billion valuation from Accel on March 6, 2026. AI agents automating accounting workflows for finance and accounting. The CEO is Matt Harpe. Basis is based in New York, NY, United States. Website: www.getbasis.ai</p><p><strong>Rozana</strong> raised $31.6 million from Bertelsmann India Investments on March 6, 2026. Peer commerce platform leveraging community support for market expansion. The CEO is Ankur Dahiya. Rozana is based in New Delhi, India. Website: www.rozana.in</p><p><strong>4.screen</strong> raised $21 million from Bosch Ventures on March 9, 2026. Technology for driver interactions and mobility ecosystem integration. The CEO is Fabian Beste. 4.screen is based in Munich, Germany. Website: www.4screen.com</p><p><strong>Juicebox</strong> raised $80 million at a $850 million valuation from DST Global on March 10, 2026. AI-powered recruiting software. The CEO is David Paffenholz &#129475;. Juicebox is based in San Francisco, CA, United States. Website: juicebox.ai</p><p><strong>Nexthop AI</strong> raised $500 million at a $4.2 billion valuation from Lightspeed Venture Partners and Andreessen Horowitz on March 10, 2026. AI infrastructure and custom networking solutions for cloud operators. The CEO is Anshul Sadana. Nexthop AI is based in Santa Clara, CA, United States. Website: nexthop.ai</p><p><strong>Nitra</strong> raised $50 million from investors including Actions Capital, NEA, Pantera Capital, Avenue Capital Group, Treville Capital Group, and Encina Lender Finance on March 10, 2026. Efficient financial tools for healthcare providers to manage spending. The CEO is Tim Hwang. Nitra is based in New York, NY, United States. Website: www.nitra.com</p><p><strong>Sigma360</strong> raised $17.3 million from Moderne Ventures on March 10, 2026. Risk decisioning software platform with cloud-native intelligence database. The CEO is Stuart Jones. Sigma360 is based in New York, NY, United States. Website: www.sigma360.com</p><p><strong>Slide</strong> raised $70 million from General Catalyst on March 10, 2026. Business continuity and disaster recovery platform for MSPs. Slide is based in Norwalk, CT, United States. Website: slide.tech</p><p><strong>Vitestro</strong> raised $70 million from Labcorp Venture Fund, Mayo Clinic, Sutter Health, InterVest, MGFO, PGGM, Puma Venture Capital, ROM Utrecht, and existing backers Invest-NL, EIC Fund, Fred Moll, NYBC Ventures, and Sonder Capital on March 10, 2026. Autonomous blood drawing technology for patient care. Vitestro is based in Utrecht, The Netherlands. Website: vitestro.com</p><p><strong>Ernesta</strong> raised $20 million from Addition on March 11, 2026. Design-focused custom rugs for homes and gathering spaces. The CEO is John Foley. Ernesta is based in New York, NY, United States. Website: www.ernestarugs.com</p><p><strong>Mozark</strong> raised $40 million from IFC and RMB Capitalworks on March 11, 2026. Digital Experience Management Platform using AI/ML for insights. The CEO is Fabien Renaudineau. Mozark is based in Singapore. Website: www.mozark.ai</p><p><strong>Cryptio</strong> raised $45 million from BlackFin Capital Partners and Sentinel Global on March 12, 2026. Enterprise-grade accounting and financial reporting solution for crypto. The CEO is Antoine Scalia. Cryptio is based in Paris, France. Website: cryptio.co</p><p><strong>Genspark AI</strong> raised $85 million at a $1.6 billion valuation from Emergence Capital on March 12, 2026. AI workspace streamlining tasks with integrated tools and automation. The CEO is Eric Jing. Genspark AI is based in Palo Alto, CA, United States. Website: genspark.ai</p><p><strong>Gumloop</strong> raised $50 million from Benchmark on March 12, 2026. AI-powered workflow automation platform for non-coders. The CEO is Max Brodeur-Urbas. Gumloop is based in Vancouver, Canada. Website: www.gumloop.com</p><p><strong>Qdrant</strong> raised $50 million from AVP on March 12, 2026. Open-source vector database for high-dimensional vector search. The CEO is Andre Zayarni. Qdrant is based in Berlin, Germany. Website: qdrant.tech</p><p><strong>Sunday</strong> raised $165 million at a $1.1 billion valuation from Coatue Management on March 12, 2026. Household robot designed for everyday chores. The CEO is Tony Zhao. Sunday is based in Mountain View, CA, United States. Website: www.sunday.ai/company</p><p><strong>Wonderful</strong> raised $150 million at a $2 billion valuation from Insight Partners on March 12, 2026. Enterprise AI platform for managing conversational agents across channels. The CEO is Bar Winkler. Wonderful is based in Amsterdam, The Netherlands. Website: www.wonderful.ai</p><p><strong>Ecofy</strong> raised $41 million from British International Investment and Finnfund on March 16, 2026. Financial solutions for eco-friendly initiatives and projects. The CEO is Rajashree Nambiar. Ecofy is based in Mumbai, India. Website: www.ecofy.co.in</p><p><strong>Unnatural Products</strong> raised $45 million from The Venture Collective on March 16, 2026. AI-driven drug discovery platform for engineering new treatments. The CEO is Cameron Pye. Unnatural Products is based in Santa Cruz, CA, United States. Website: www.unnaturalproducts.com</p><p><strong>Recentive Analytics</strong> raised $45 million from Wavecrest Growth Partners on March 18, 2026. AI solutions for the live entertainment industry. Recentive Analytics is based in Boston, MA, United States. Website: www.recentiveanalytics.com</p><p><strong>Allure Security Technology</strong> raised $17 million from Riverside Acceleration Capital on March 19, 2026. AI-driven anti-phishing solution for enterprise cybersecurity. The CEO is Josh Shaul. Allure Security Technology is based in Waltham, MA, United States. Website: www.alluresecurity.com</p><p><strong>Bluesky</strong> raised $100 million from Bain Capital Crypto on March 19, 2026. Social media network enabling community engagement and creative expression. The CEO is Toni Schneider. Bluesky is based in Seattle, WA, United States. Website: blueskyweb.xyz</p><p><strong>Cloaked</strong> raised $375 million from General Catalyst and Liberty City Ventures on March 19, 2026. Consumer privacy company enabling control over personal data. The CEO is Arjun Bhatnagar. Cloaked is based in Boston, MA, United States. Website: cloaked.app</p><p><strong>Breakaway Music Festival</strong> raised $30 million from RSE Ventures on March 20, 2026. Pop, dance, and hip-hop music festival series for college students. Breakaway Music Festival is based in Columbus, OH, United States. Website: www.breakawayfestival.com</p><p><strong>Oasis Security</strong> raised $120 million from Craft Ventures on March 20, 2026. Non-human identity management technology for improved security posture. The CEO is Danny Brickman. Oasis Security is based in New York, NY, United States. Website: www.oasis.security/product</p><p><strong>Paraform</strong> raised $40 million from Scale Venture Partners on March 20, 2026. Recruiting marketplace connecting companies with specialized recruiters. Paraform is based in San Francisco, CA, United States. Website: www.paraform.com</p><p><strong>Exponent Energy</strong> raised $19.4 million at a $120 million valuation from 360 One and TDK Ventures on March 21, 2026. Fast charging technology for electric vehicles and battery management. Exponent Energy is based in Bengaluru, India. Website: www.exponent.energy</p><p><strong>Posh</strong> raised $37 million from FirstMark on March 23, 2026. Social platform for creating events quickly and easily. The CEO is Avante Price. Posh is based in New York, NY, United States. Website: www.posh.vip</p><p><strong>Swish</strong> raised $38 million at a $139 million valuation from Hara Global and Bain Capital Ventures on March 23, 2026. Fast food delivery platform enhancing convenience and flexibility. The CEO is Aniket Shah. Swish is based in Bangalore, India. Website: www.justswish.in</p><p><strong>Dash0</strong> raised $110 million at a $1 billion valuation from Balderton Capital on March 24, 2026. OpenTelemetry native observability platform for developers. The CEO is Mirko Novakovic. Dash0 is based in New York, NY, United States. Website: www.dash0.com</p><p><strong>Doctronic</strong> raised $40 million from Abstract and Lightspeed Venture Partners on March 24, 2026. D2C AI doctor providing immediate diagnoses with human verification. The CEO is Matt Pavelle. Doctronic is based in New York, NY, United States. Website: www.doctronic.ai</p><p><strong>Shepherd</strong> raised $42 million from Intact Private Capital on March 24, 2026. Tech-enabled insurance for commercial construction. The CEO is Justin Levine. Shepherd is based in San Francisco, CA, United States. Website: withshepherd.com</p><p><strong>Spade</strong> raised $40 million from Oak HC/FT on March 24, 2026. Transaction data enrichment solution providing clarity and context. The CEO is Oban MacTavish. Spade is based in New York, NY, United States. Website: www.spade.com</p><p><strong>Lucid Bots</strong> raised $20 million from Cubit Capital and Idea Fund Partners on March 25, 2026. Robots and drones for labor-intensive cleaning tasks. The CEO is Andrew Ashur. Lucid Bots is based in Charlotte, NC, United States. Website: lucidbots.com</p><p><strong>PDW</strong> raised $110 million from Ondas on March 25, 2026. Small autonomous platforms designed for modern warfare. The CEO is Ryan Gury. PDW is based in Huntsville, AL, United States. Website: www.pdw.ai</p><p><strong>Qualified Health</strong> raised $125 million from New Enterprise Associates (NEA) on March 25, 2026. Generative AI infrastructure solution for safe healthcare applications. The CEO is Justin Norden. Qualified Health is based in San Carlos, CA, United States. Website: www.qualifiedhealthai.com</p><p><strong>Sift Stack</strong> raised $42 million at a $274 million valuation from StepStone on March 25, 2026. Transformative tools for machine creators to innovate rapidly. Sift Stack is based in El Segundo, CA, United States. Website: www.siftstack.com</p><p><strong>Clasp</strong> raised $20 million from Crosslink Capital and Digitalis Ventures on March 26, 2026. Outcomes-oriented company offering flexible funding products for education. The CEO is Tess Michaels. Clasp is based in Boston, MA, United States. Website: www.stridefunding.com</p><p><strong>Doss</strong> raised $55 million from Madrona and Premji Invest on March 26, 2026. Adaptive resource platform integrating core business functions. Doss is based in San Francisco, CA, United States. Website: www.doss.com</p><p><strong>Plum</strong> raised $20.5 million at a $130 million valuation from Peak XV Partners on March 26, 2026. Affordable group health insurance with no hidden costs. The CEO is Abhishek Poddar. Plum is based in Bengaluru, India. Website: www.plumhq.com</p><p><strong>Tazapay</strong> raised $36 million from Circle Ventures on March 26, 2026. Full-stack payment solution for cross-border trade and SMBs. The CEO is Rahul Shinghal. Tazapay is based in Singapore. Website: tazapay.com</p><p><strong>Aetherflux</strong> raised $350 million at a $2 billion valuation from Index Ventures on March 27, 2026. Novel design for space-based solar energy solutions. The CEO is Baiju Bhatt. Aetherflux is based in San Carlos, CA, United States. Website: www.aetherflux.com</p><p><strong>allocatte</strong> raised $31 million from Emirates NBD on March 27, 2026. Fractional real estate investment platform with tokenized shares. allocatte is based in Dubai, United Arab Emirates. Website: www.allocatte.com</p><p><strong>Create Wellness</strong> raised $20 million from Alliance Consumer Growth (ACG) and Impact Capital on March 30, 2026. Vegan creatine monohydrate gummies for fitness and wellness. Create Wellness is based in New York, NY, United States. Website: trycreate.co</p><p><strong>Qodo</strong> raised $70 million from Qumra Capital on March 30, 2026. Agentic code integrity platform enhancing code quality with AI. The CEO is Itamar Friedman. Qodo is based in Tel Aviv, Israel. Website: www.qodo.ai</p><p><strong>Sett</strong> raised $30 million from Greenfield Partners on March 30, 2026. AI technology for mobile game teams to find winning creatives. Sett is based in Tel Aviv, Israel. Website: www.sett.ai</p><p><strong>Crosby</strong> raised $60 million from Lux Capital, Index Ventures and 01 Advisors on March 31, 2026. Tech-driven legal services combining programming and law expertise. The CEO is Ryan Daniels. Crosby is based in New York, NY, United States. Website: crosby.ai</p><p><strong>Depthfirst</strong> raised $80 million from Meritech Capital on March 31, 2026. Applied AI lab enhancing cybersecurity through vulnerability management. Depthfirst is based in San Francisco, CA, United States. Website: depthfirst.com</p><p><strong>EPG</strong> raised $100 million from Decarbonization Partners on March 31, 2026. Prefabricated modular data center products and integrated solutions. EPG is based in Singapore. Website: www.epg-module.com</p><p><strong>Standing Ovation</strong> raised $28.7 million from the Ecotechnologies 2 fund (Bpifrance) and Cr&#233;dit Mutuel Innovation on March 31, 2026. Animal-free, planet-friendly vegan cheese that tastes like dairy. Standing Ovation is based in Paris, France. Website: standing-ovation.co</p><h2><strong>Three Most Interesting Deals</strong></h2><p><strong>Nexthop AI ($500M from Lightspeed Venture Partners and Andreessen Horowitz): </strong>Nexthop AI&#8217;s $500M Series B at a $4.2B valuation is a major investor signal that AI infrastructure and networking have become a top-tier scaling priority for cloud operators. The round size and valuation imply strong conviction in near-term revenue potential, not just R&amp;D, and positions the company as a category leader in performance-critical AI networking. Strategically, it underscores that bottlenecks are shifting from compute to interconnect and systems design, shaping where enterprise and hyperscaler budgets will go. This deal is likely to influence competitive roadmaps across data center networking, AI accelerators, and infrastructure software.</p><p><strong>Sunday ($165M from Coatue Management): </strong>Sunday&#8217;s $165M Series B at a $1.15B valuation highlights continued momentum in household robotics as it moves from novelty to mainstream consumer utility. The size of the raise suggests an intention to scale manufacturing, distribution, and service operations&#8212;key hurdles that separate robotics winners from perpetual pilots. It also signals that investors are willing to fund hardware-heavy businesses when the product maps to a large, repeat-use consumer job-to-be-done. Strategically, this deal reinforces the convergence of AI, embodied autonomy, and consumer platforms as a high-impact frontier.</p><p><strong>Basis ($100M from Accel): </strong>Basis raised $100M at a $1.15B valuation, reinforcing that AI agents in back-office workflows (especially accounting) are becoming a durable enterprise software wedge. Accounting touches every company and drives compliance, cash visibility, and operational decision-making, making automation here both sticky and high-ROI. The valuation indicates expectations of rapid enterprise adoption and meaningful ARR potential, not just experimentation with copilots. Strategically, it&#8217;s a strong read-through that agentic automation is moving into core systems of record and will pressure incumbents across finance software.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series A activity: Week of March 29, 2026]]></title><description><![CDATA[There were 21 Series As in the last week that raised a total of $702.7 million. The average deal size was $33.5 million while the median was $23.2 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-march-29</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-march-29</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Tue, 07 Apr 2026 17:03:18 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!95sS!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf2723f7-3749-46e5-9d54-4e754054bb48_1786x570.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!95sS!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf2723f7-3749-46e5-9d54-4e754054bb48_1786x570.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!95sS!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf2723f7-3749-46e5-9d54-4e754054bb48_1786x570.png 424w, https://substackcdn.com/image/fetch/$s_!95sS!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf2723f7-3749-46e5-9d54-4e754054bb48_1786x570.png 848w, https://substackcdn.com/image/fetch/$s_!95sS!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf2723f7-3749-46e5-9d54-4e754054bb48_1786x570.png 1272w, https://substackcdn.com/image/fetch/$s_!95sS!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf2723f7-3749-46e5-9d54-4e754054bb48_1786x570.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!95sS!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf2723f7-3749-46e5-9d54-4e754054bb48_1786x570.png" width="1456" height="465" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/bf2723f7-3749-46e5-9d54-4e754054bb48_1786x570.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:465,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:81194,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://postround.substack.com/i/193487566?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf2723f7-3749-46e5-9d54-4e754054bb48_1786x570.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!95sS!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf2723f7-3749-46e5-9d54-4e754054bb48_1786x570.png 424w, https://substackcdn.com/image/fetch/$s_!95sS!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf2723f7-3749-46e5-9d54-4e754054bb48_1786x570.png 848w, https://substackcdn.com/image/fetch/$s_!95sS!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf2723f7-3749-46e5-9d54-4e754054bb48_1786x570.png 1272w, https://substackcdn.com/image/fetch/$s_!95sS!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf2723f7-3749-46e5-9d54-4e754054bb48_1786x570.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series A Deals</strong></h2><p><strong>Mars Men</strong> raised $27.5 million from L Catterton on March 30, 2026. Natural, drug-free supplement stacks for men&#8217;s health and performance. Mars Men is based in Greenville, WI, United States. Website: mengotomars.com</p><p><strong>Midas</strong> raised $50 million from RRE Ventures and Creandum on March 30, 2026. Cryptocurrency application for selling and investing in tokens. The CEO is Dennis Dinkelmeyer. Midas is based in Berlin, Germany. Website: midas.app</p><p><strong>Starcloud</strong> raised $170 million at a $1.1 billion valuation from Benchmark and EQT Ventures on March 30, 2026. Network of megawatt-scale data centers in space. The CEO is Philip Johnston. Starcloud is based in Redmond, WA, United States. Website: www.starcloud.com</p><p><strong>Acclaim</strong> raised $34 million from Ratmir Timashev on March 31, 2026. Voice-first AI agents and CX platform for regulated industries. Acclaim is based in Miami, FL, United States. Website: www.acclaim.ai</p><p><strong>Antaris</strong> raised $28 million from WestWave Capital on March 31, 2026. Digital space platform simplifying satellite design and operation. The CEO is Thomas Barton. Antaris is based in Los Altos, CA, United States. Website: antaris.space</p><p><strong>AvoMD</strong> raised $10 million from Noro-Moseley Partners, AlleyCorp, Las Olas Venture Capital, MedMountain Ventures, Epsilon Health Investors, LLC, and Scrub Capital on March 31, 2026. No-code platform for instant clinical consults at the point-of-care. The CEO is Yair Saperstein. AvoMD is based in New York, NY, United States. Website: www.avomd.io</p><p><strong>Bachatt</strong> raised $12 million from Accel on March 31, 2026. Daily savings platform for self-employed individuals in India. The CEO is Anugrah Jain. Bachatt is based in Gurgaon, India. Website: bachatt.app</p><p><strong>Jaaq</strong> raised $17 million from Meridian Health Ventures, Fuel Ventures, Bolt Angels, and Guinness Ventures on March 31, 2026. Mental health-focused online platform connecting users to specialists. The CEO is Alex Packham. Jaaq is based in London, United Kingdom. Website: jaaq.app</p><p><strong>Kestra Technologies</strong> raised $25 million from RTP Global on March 31, 2026. Open-source orchestration and scheduling platform for critical applications. The CEO is Emmanuel Darras. Kestra Technologies is based in Paris, France. Website: kestra.io</p><p><strong>OpenFX</strong> raised $94 million at a $500 million valuation from Accel, Atomico, Lightspeed Faction, M13, Northzone, and Pantera on March 31, 2026. Global money movement platform enabling seamless cross-border transfers. The CEO is Prabhakar Reddy. OpenFX is based in New City, NY, United States. Website: www.openfx.com</p><p><strong>Scala Biodesign</strong> raised $16 million from Grove Ventures on March 31, 2026. Computational solutions to enhance protein value and development. Scala Biodesign is based in Tel Aviv, Israel. Website: www.scala-bio.com</p><p><strong>ThinkLabs</strong> raised $28 million from Energy Impact Partners on March 31, 2026. AI development firm empowering industries for global energy sustainability. ThinkLabs is based in New York, NY, United States. Website: www.thinklabs.ai</p><p><strong>Treeline</strong> raised $25 million from Andreessen Horowitz (a16z) on March 31, 2026. AI-powered managed service platform that automates IT, security, and compliance operations for growing businesses, including help desk, device lifecycle management, vulnerability management, and compliance workflows. Treeline is based in San Francisco, CA, United States. Website: www.treeline.ai</p><p><strong>Variance</strong> raised $21.5 million from Ten Eleven Ventures on March 31, 2026. AI software for threat detection and risk management automation. Variance is based in New York, NY, United States. Website: www.variance.com</p><p><strong>memQ</strong> raised $10 million from Quantonation and Ocean Azul Partners on March 31, 2026. Quantum technology for secure photonic qubit distribution in telecom. The CEO is Manish Kumar Singh. memQ is based in Chicago, IL, United States. Website: www.memq.tech</p><p><strong>Cognichip</strong> raised $60 million from Seligman Ventures on April 1, 2026. AI-driven semiconductor design using physics-informed models. The CEO is Faraj Aalaei. Cognichip is based in Redwood City, CA, United States. Website: www.cognichip.ai</p><p><strong>Inbiome</strong> raised $16 million from the NATO Innovation Fund and a group led by Michiel Boehmer and Slingshot Ventures on April 1, 2026. Molecular diagnostics pioneer for faster bacterial tests and analytics. Inbiome is based in Amsterdam, The Netherlands. Website: inbiome.com</p><p><strong>Daydream</strong> raised $15 million from WndrCo, along on April 2, 2026. SaaS platform automating end-to-end programmatic SEO. The CEO is Thenuka Karunaratne. Daydream is based in San Francisco, CA, United States. Website: www.withdaydream.com</p><p><strong>Generare</strong> raised $23.2 million from Alven and Daphni on April 2, 2026. Biotech startup discovering next-generation medicines from soil bacteria. The CEO is Guillaume Vandenesch. Generare is based in Paris, France. Website: generare.bio</p><p><strong>Littlefish</strong> raised $9.5 million from TLcom Capital, Flourish Ventures, Proparco, and Partech on April 2, 2026. Merchant operating system for African banks that unifies POS apps, merchant portals, CRM, payments, and APIs to power digital merchant services at scale. The CEO is Brandon Roberts. Littlefish is based in Johannesburg, South Africa. Website: littlefishapp.com</p><p><strong>Insight Health</strong> raised $11 million from Standard Capital on April 3, 2026. AI-driven platform automating clinical tasks for healthcare providers. The CEO is Jaimal Soni. Insight Health is based in Austin, TX, United States. Website: www.insighthealth.ai<br></p><p><strong>Three Most Interesting Deals</strong></p><p><strong>Starcloud ($170M from Benchmark and EQT Ventures): </strong>Starcloud&#8217;s $170M round at a $1.1B valuation is a major signal that investors are underwriting space-based infrastructure as a credible next layer of compute. If the thesis works, megawatt-scale data centers in orbit could reshape the cost and availability of sovereign/defense compute and latency-sensitive services, creating a new hyperscaler adjacency. The scale of capital suggests long-duration ambitions and a push toward early commercial deployment rather than pure R&amp;D. This deal also reinforces the broader &#8220;space as an industrial platform&#8221; trend that can pull in a large ecosystem of suppliers and downstream applications.</p><p><strong>OpenFX ($94M from Accel, Atomico, Lightspeed Faction, M13, Northzone, and Pantera): </strong>OpenFX&#8217;s $94M round at a $500M valuation highlights sustained conviction in cross-border payments infrastructure as a foundational fintech layer, especially as real-time rails expand globally. Large Series A financing at this valuation implies strong early traction and/or a credible path to network effects and enterprise distribution. The category remains strategically important because improved global money movement unlocks marketplaces, payroll, remittances, and B2B trade flows. Competitive intensity is high, so this round is also a signal of expected land-grab dynamics and the need for balance-sheet, compliance, and liquidity scale.</p><p><strong>Cognichip ($60M from Seligman Ventures): </strong>Cognichip&#8217;s $60M raise underscores how strategic AI-driven semiconductor design has become as compute demand and chip complexity accelerate. Physics-informed models promise faster iteration and better PPA outcomes, which could meaningfully shift time-to-silicon for both incumbents and new chip startups. Investor appetite here is a strong signal because the space is technically deep and capital-intensive, implying confidence in differentiated IP and a path to commercial partnerships. This deal matters broadly as it sits at the intersection of AI software and hardware supply constraints, a key bottleneck for the entire AI economy.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series A activity: Week of March 22, 2026]]></title><description><![CDATA[There were 32 Series As in the last week that raised a total of $1.3 billion. The average deal size was $41 million while the median was $23 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-march-22</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-march-22</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Mon, 30 Mar 2026 18:04:48 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!Pds5!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd00edf5-93e7-47e0-9717-e8c9073a3d69_1810x578.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Pds5!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd00edf5-93e7-47e0-9717-e8c9073a3d69_1810x578.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Pds5!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd00edf5-93e7-47e0-9717-e8c9073a3d69_1810x578.png 424w, https://substackcdn.com/image/fetch/$s_!Pds5!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd00edf5-93e7-47e0-9717-e8c9073a3d69_1810x578.png 848w, https://substackcdn.com/image/fetch/$s_!Pds5!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd00edf5-93e7-47e0-9717-e8c9073a3d69_1810x578.png 1272w, https://substackcdn.com/image/fetch/$s_!Pds5!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd00edf5-93e7-47e0-9717-e8c9073a3d69_1810x578.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!Pds5!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd00edf5-93e7-47e0-9717-e8c9073a3d69_1810x578.png" width="1456" height="465" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/dd00edf5-93e7-47e0-9717-e8c9073a3d69_1810x578.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:465,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:90875,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://postround.substack.com/i/192144018?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd00edf5-93e7-47e0-9717-e8c9073a3d69_1810x578.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!Pds5!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd00edf5-93e7-47e0-9717-e8c9073a3d69_1810x578.png 424w, https://substackcdn.com/image/fetch/$s_!Pds5!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd00edf5-93e7-47e0-9717-e8c9073a3d69_1810x578.png 848w, https://substackcdn.com/image/fetch/$s_!Pds5!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd00edf5-93e7-47e0-9717-e8c9073a3d69_1810x578.png 1272w, https://substackcdn.com/image/fetch/$s_!Pds5!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd00edf5-93e7-47e0-9717-e8c9073a3d69_1810x578.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><h2><strong>Series A Deals</strong></h2><p><strong>Above Security</strong> raised $43 million from Merlin Ventures, Ballistic Ventures, and Norwest Venture Partners on March 23, 2026. Insider threat detection and communications monitoring services. Above Security is based in Tel Aviv, Israel. Website: abovesec.com</p><p><strong>Gimlet Labs</strong> raised $80 million from Menlo Ventures on March 23, 2026. AI infrastructure platform for efficient agent-based workloads. The CEO is Zain Asgar. Gimlet Labs is based in San Francisco, CA, United States. Website: gimletlabs.ai</p><p><strong>Hynaero</strong> raised $135.2 million from Bpifrance, the R&#233;gion Sud and an unnamed investor on March 23, 2026. Amphibious water-bomber for aerial firefighting operations. Hynaero is based in Istres, France. Website: hynaero.com/en</p><p><strong>Jaaq</strong> raised $17.3 million from Meridian Health Ventures, Fuel Ventures, Bolt Angels and Guinness Ventures on March 23, 2026. Mental health-focused online platform connecting users to specialists. Jaaq is based in London, United Kingdom. Website: jaaq.app</p><p><strong>Lace</strong> raised $40 million from Atomico on March 23, 2026. Chip patterning technology to extend Moore&#8217;s Law for future production. The CEO is Bodil Holst. Lace is based in Bergen, Hordaland, Norway. Website: www.lacelithography.com</p><p><strong>PointOne</strong> raised $16 million from 8VC on March 23, 2026. Automated time tracking and billing solution for law firms. The CEO is Katon Luaces. PointOne is based in New York, NY, United States. Website: pointone.ai</p><p><strong>Sepion Technologies</strong> raised $16 million from Fine Structure Ventures on March 23, 2026. Advanced membrane solutions for various industrial markets. The CEO is Peter Frischmann. Sepion Technologies is based in Emeryville, CA, United States. Website: sepiontechnologies.com</p><p><strong>Bliss</strong> raised $10.8 million from Kfund and Grupo Bradesco on March 24, 2026. Online health insurance comparison platform. The CEO is Fernando Valdemarin Goncalves. Bliss is based in Sao Paulo, Brazil. Website: www.blissapp.ai/en</p><p><strong>BlueFlag Security</strong> raised $28 million from Maverick Ventures and Ten Eleven Ventures on March 24, 2026. Multi-layered defense platform for identity and software security. The CEO is Raj Mallempati. BlueFlag Security is based in Sunnyvale, CA, United States. Website: www.blueflagsecurity.com</p><p><strong>Cauldron Ferm </strong>raised $13.2 million from Main Sequence Ventures on March 24, 2026. Bio-acceleration process for scaling precision fermentation prototypes. The CEO is Michele Stansfield. Cauldron Ferm is based in Orange, New South Wales, Australia. Website: www.cauldronferm.com</p><p><strong>Dimer Health</strong> raised $13.5 million from Team8 and Bill Ackman&#8217;s Table Management on March 24, 2026. Tech-enabled transitional care model improving patient outcomes. Dimer Health is based in Mendham, NJ, United States. Website: www.dimerhealth.com</p><p><strong>Highlight</strong> raised $40 million from Khosla Ventures on March 24, 2026. Creative AI platform for meeting summaries and document revisions. The CEO is Pim de Witte. Highlight is based in Irvine, CA, United States. Website: highlightai.com</p><p><strong>Kandou AI </strong>raised $225 million from Maverick Silicon on March 24, 2026. Semiconductor design and manufacturing company. The CEO is Srujan Linga. Kandou AI is based in Saint-sulpice, Vaud, Switzerland. Website: kandou.ai</p><p><strong>Pro Padel League</strong> raised $15 million from Charlotte Hornets Co-Chairman &amp; Governor Rick Schnall on March 24, 2026. Team-based professional padel circuit for global competition. The CEO is Michael Dorfman. Pro Padel League is based in New York, NY, United States. Website: propadelleague.com</p><p><strong>Chexy</strong> raised $10.2 million from Khosla Ventures on March 25, 2026. Digital platform for online rent payments with rewards and credit building. Chexy is based in Toronto, Ontario, Canada. Website: www.chexy.co</p><p><strong>Deccan AI</strong> raised $25 million from A91 Partners on March 25, 2026. High-quality, human-labeled data for AI model training. The CEO is Rukesh Reddy. Deccan AI is based in San Francisco, CA, United States. Website: www.deccan.ai</p><p><strong>EPIC Microsystems</strong> raised $21 million from Seligman Ventures on March 25, 2026. Advanced technology for energy efficiency and computing in data centers. EPIC Microsystems is based in San Francisco, CA, United States. Website: epicmicro.com</p><p><strong>Glimpse</strong> raised $35 million from Andreessen Horowitz on March 25, 2026. Product placement in luxury short-term rentals for brands. Glimpse is based in New York, NY, United States. Website: www.tryglimpse.com</p><p><strong>Littlefish</strong> raised $9.5 million from Partech on March 25, 2026. Promoting satisfying and useful trade through collaborations in finance. The CEO is Brandon Roberts. Littlefish is based in Johannesburg, South Africa. Website: littlefishapp.com</p><p><strong>Notch</strong> raised $30 million from Headline on March 25, 2026. Self-governing AI customer service platform for operational leaders. Notch.cx is based in Tel Aviv, Israel. Website: www.notch.cx</p><p><strong>Startale Labs</strong> raised $63 million from SBI Group and Sony Innovation Fund on March 25, 2026. Unlocking human potential through open internet and cloud services. The CEO is Sota Watanabe. Startale Labs is based in Singapore. Website: startale.com</p><p><strong>Thesis Care</strong> raised $45 million from Oak HC/FT on March 25, 2026. AI-driven clinical operations and care management platform. Thesis Care is based in New York, NY, United States. Website: thesis.care</p><p><strong>Trayd</strong> raised $10 million from White Star Capital on March 25, 2026. Construction payroll platform with time-tracking and automation services. The CEO is Anna Berger. Trayd is based in New York, NY, United States. Website: www.buildtrayd.com</p><p><strong>Worth AI</strong> raised $30 million from Fulcrum Equity Partners on March 25, 2026. Fintech platform automating onboarding and underwriting for institutions. The CEO is Sal Rehmetullah. Worth AI is based in Orlando, FL, United States. Website: worthai.com</p><p><strong>Blossom Health</strong> raised $20 million from Headline on March 26, 2026. AI-driven telehealth platform for affordable psychiatric-mental healthcare. Blossom Health is based in New York, NY, United States. Website: www.joinblossomhealth.com</p><p><strong>Origin</strong> raised $30 million at a $106 million valuation from Notion Capital on March 26, 2026. AI-powered platform for global benefits management and intelligence. The CEO is Chris Bruce. Origin is based in Kent, United Kingdom. Website: originbenefits.com</p><p><strong>Scalvy</strong> raised $13.9 million from a strategic investor and Silicon Badia on March 26, 2026. Modular power electronics platform for ultra power-dense systems. The CEO is Mohamed Badawy. Scalvy is based in Austin, TX, United States. Website: scalvy.com</p><p><strong>TORIHADA</strong> raised $9.4 million from a series of investors on March 26, 2026. Creative firm specializing in influencer and digital marketing. The CEO is Eisuke Wakai. TORIHADA is based in Tokyo, Tokyo, Japan. Website: www.torihada.co.jp</p><p><strong>Theia Insights</strong> raised $8 million from MiddleGame Ventures on March 26, 2026. AI-driven insights transformation from information. Theia Insights is based in Cambridge, United Kingdom. Website: theiainsights.com</p><p><strong>XFX</strong> raised $17 million from Castle Island Ventures on March 26, 2026. Global money movement platform for fiat and stablecoin transactions. XFX is based in Saugerties, NY, United States. Website: www.xfx.io</p><p><strong>eMed</strong> raised $200 million at a $2 billion valuation from AON Consulting, Inc on March 26, 2026. On-demand verified care solutions for chronic health management. The CEO is Linda Yaccarino. eMed is based in Miami, FL, United States. Website: www.emed.com</p><p><strong>ODC</strong> raised $45 million from Bayobab (MTN Digital Infrastructure), NVIDIA, Cisco, Nokia, AT&amp;T, Booz Allen Hamilton and Telecom Italia (TIM) on March 27, 2026. AI-native RAN platform for software-defined 5G and edge AI compute. ODC is based in New York, NY, United States. Website: orandevco.com</p><div><hr></div><p><strong>Three Most Interesting Deals</strong></p><p><strong>Kandou AI ($225M from Maverick Silicon): </strong>This is the week&#8217;s clearest investor signal in semiconductors, a category that sits at the base of every AI and compute roadmap. A $225M Series A implies ambitions beyond a single product&#8212;likely funding both design and manufacturing scale, which is capital-intensive and hard to replicate. The round matters strategically because it suggests strong conviction that differentiated silicon can still win despite foundry and supply-chain constraints. It also reinforces a broader shift toward specialized hardware as AI workloads pressure power, bandwidth, and latency limits.</p><p><strong>eMed ($200M from AON Consulting, Inc): </strong>A $200M Series A at a $2.0B valuation is a major conviction bet in chronic care, where outcomes, engagement, and cost containment determine whether models scale. The size and valuation indicate expectations of rapid multi-market expansion, payer/provider partnerships, and a platform play rather than a single program. Strategically, chronic disease management is one of the biggest spend categories in healthcare, so winners can become category-defining. The deal also signals that large growth rounds are still available for care-delivery models that can prove ROI and retention.</p><p><strong>Gimlet Labs ($80M from Menlo Ventures): </strong>An $80M Series A for AI infrastructure focused on agent-based workloads highlights a key bottleneck: making agents reliable, efficient, and cost-controlled in production. This matters beyond tooling&#8212;whoever owns the agent runtime and orchestration layer can become a durable platform with strong developer and enterprise lock-in. The round indicates demand for performance and operational primitives (evaluation, governance, caching, routing) as enterprises move from pilots to scaled deployment. It&#8217;s strategically important because infrastructure winners often capture broad ecosystem leverage across many application categories.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Series A activity: Week of March 16, 2026]]></title><description><![CDATA[There were 25 Series As in the last week that raised a total of $585.1 million. The average deal size was $23.4 million while the median was $21.0 million.]]></description><link>https://postround.substack.com/p/series-a-activity-week-of-march-16</link><guid isPermaLink="false">https://postround.substack.com/p/series-a-activity-week-of-march-16</guid><dc:creator><![CDATA[Aaron Harris]]></dc:creator><pubDate>Wed, 25 Mar 2026 21:12:24 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!9Zpw!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F33468acd-2a4a-4ebe-b676-9cc4961f2ed1_264x264.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><strong>Editor&#8217;s Note: Fun fact - we&#8217;re now sourcing PostRound data entirely from <a href="http://www.theventurecodex.com">www.theventurecodex.com</a>. Cool!</strong></p><p><em>Data for Series A deals done worldwide (ex-China) where amount raised is greater than $8M and the company is not focused on therapeutics</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!_pBr!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F731d2209-a0eb-4cf1-b552-afddd11b0535_472x296.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!_pBr!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F731d2209-a0eb-4cf1-b552-afddd11b0535_472x296.png 424w, https://substackcdn.com/image/fetch/$s_!_pBr!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F731d2209-a0eb-4cf1-b552-afddd11b0535_472x296.png 848w, https://substackcdn.com/image/fetch/$s_!_pBr!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F731d2209-a0eb-4cf1-b552-afddd11b0535_472x296.png 1272w, https://substackcdn.com/image/fetch/$s_!_pBr!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F731d2209-a0eb-4cf1-b552-afddd11b0535_472x296.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!_pBr!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F731d2209-a0eb-4cf1-b552-afddd11b0535_472x296.png" width="472" height="296" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/731d2209-a0eb-4cf1-b552-afddd11b0535_472x296.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:296,&quot;width&quot;:472,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:32169,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://postround.substack.com/i/192144070?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F731d2209-a0eb-4cf1-b552-afddd11b0535_472x296.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!_pBr!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F731d2209-a0eb-4cf1-b552-afddd11b0535_472x296.png 424w, https://substackcdn.com/image/fetch/$s_!_pBr!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F731d2209-a0eb-4cf1-b552-afddd11b0535_472x296.png 848w, https://substackcdn.com/image/fetch/$s_!_pBr!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F731d2209-a0eb-4cf1-b552-afddd11b0535_472x296.png 1272w, https://substackcdn.com/image/fetch/$s_!_pBr!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F731d2209-a0eb-4cf1-b552-afddd11b0535_472x296.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://postround.substack.com/subscribe?"><span>Subscribe now</span></a></p><p></p><h2><strong>Series A Deals</strong></h2><p>Fuse raised $25 million from Footwork, Primary Venture Partners, NextView Ventures, and Commerce Ventures on March 16, 2026. Software platform automating and streamlining loan origination processes. Fuse is based in New York, NY, United States. Website: www.fusefinance.com</p><p>Halcyon raised $21 million from Energize Capital on March 16, 2026. AI-assisted search platform for energy transition decision-making. Halcyon is based in San Francisco, CA, United States. Website: halcyon.eco</p><p>Ironlight Group raised $21 million from Greg Braca, Sei Development Foundation, and Laidlaw Private Equity on March 16, 2026. Blockchain technology solutions for asset management industry. Ironlight Group is based in Austin, TX, United States. Website: ironlight.io</p><p>Conduit Health raised $17 million from Drive Capital on March 17, 2026. Telehealth platform for DME access and psychiatric consultations. Conduit Health is based in New York, NY, United States. Website: www.conduithealth.com</p><p>Knox raised $25 million from B Capital on March 17, 2026. Provider of innovative security solutions for businesses and organizations. Knox is based in Austin, TX, United States. Website: knoxsystems.com</p><p>Native raised $31 million from Ballistic Ventures on March 17, 2026. Cloud security control plane for enterprises across multi-cloud setups. Native is based in Seattle, WA, United States. Website: native.security</p><p>Tracebit raised $20 million from FirstMark on March 17, 2026. Cloud threat detection and deception platform using decoy systems. Tracebit is based in London, England, United Kingdom. Website: tracebit.com</p><p>TransFi raised $14.2 million from Turing Financial Group on March 17, 2026. Borderless finance platform for efficient international money movement. TransFi is based in Tampa, FL, United States. Website: www.transfi.com</p><p>dtcpay raised $10 million on March 17, 2026. Licensed payment service provider for fiat and cryptocurrencies. dtcpay is based in Singapore. Website: dtcpay.com</p><p>Aerchain raised $12.8 million from Pavestone VC on March 18, 2026. Financing and logistics platform for e-auctions and sourcing solutions. Aerchain is based in Bengaluru, Karnataka, India. Website: www.aerchain.io</p><p>Cocoon raised $15 million from 2150 and Brick &amp; Mortar Ventures on March 18, 2026. Climate technology platform for industrial waste and carbon capture. Cocoon is based in London, England, United Kingdom. Website: www.cocooncarbon.com</p><p>Condor Software raised $24 million from Insight Partners on March 18, 2026. Financial intelligence and automation for biopharma clinical development. Condor Software is based in San Diego, CA, United States. Website: www.condorsoftware.com</p><p>Corridor raised $25 million at a $200 million valuation from Felicis on March 18, 2026. Security platform for AI coding tools and developer workflows. Corridor is based in San Francisco, CA, United States. Website: corridor.dev</p><p>Foresight raised $25 million from Macquarie Capital Venture Capital on March 18, 2026. Data-driven tools for managing and executing complex megaprojects. Foresight is based in London, England, United Kingdom. Website: www.foresight.works</p><p>Hanover Park raised $27 million from Emergence Capital on March 18, 2026. Hanover Park is an AI-native fund administrator serving private equity and venture capital firms. Hanover Park is based in New York, NY, United States. Website: www.hanoverpark.com</p><p>Rivia raised $15 million from Earlybird on March 18, 2026. Next-gen operating system for improved clinical trial outcomes. Rivia is based in Z&#252;rich, Zurich, Switzerland. Website: www.rivia.ch</p><p>RunSybil raised $40 million from Khosla Ventures on March 18, 2026. AI-driven pentesting for proactive vulnerability discovery. RunSybil is based in San Francisco, CA, United States. Website: www.runsybil.com</p><p>Sequen raised $16 million from White Star Capital and Threshold Ventures on March 18, 2026. AI-native Behavior Design Engine for adaptive in-session search. Sequen is based in Brooklyn, NY, United States. Website: www.sequen.ai</p><p>Bioliberty raised $8.2 million from the Scottish National Investment Bank on March 19, 2026. Medtech start-up developing rehabilitation solutions for conditions. Bioliberty is based in Edinburgh, Edinburgh, City of, United Kingdom. Website: www.bioliberty.co.uk</p><p>Deeptune raised $43 million from Andreessen Horowitz (a16z) on March 19, 2026. Training environments for AI agents. Deeptune is based in New York, NY, United States. Website: deeptune.ai</p><p>Latent Health raised $80 million from Spark Capital and Transformation Capital on March 19, 2026. Latent Health is a San Francisco&#8211;based clinical-AI company that accelerates patient access to medications by bringing clinical intelligence into the patient record. Latent Health is based in San Francisco, CA, United States. Website: latenthealth.com</p><p>Orbital Lasers raised $18.9 million from various Japanese institutional investors on March 19, 2026. Orbital Lasers develops small, high-efficiency space lasers and related space optical technologies for applications including satellite lidar and space-debris removal. Orbital Lasers is based in Tokyo, Tokyo, Japan. Website: www.orbitallasers.com</p><p>Parallel raised $20 million from Index Ventures on March 19, 2026. Vertical AI agents automating hospital administrative workflows. Parallel is based in Paris, Ile-de-France, France. Website: www.beparallel.com</p><p>Meadow raised $9 million from Lachy Groom and Haystack on March 20, 2026. Online cremation arrangements and modern memorial products. Meadow is based in Commerce, CA, United States. Website: www.meadowmemorials.com</p><p><strong>Three Most Interesting Deals</strong></p><p><strong>RunSybil ($40M from Khosla Ventures): </strong>Khosla leading a $40M round into an AI-native offensive security platform &#8212; with S32, Menlo, Conviction, Elad Gil, Nikesh Arora, and Jeff Dean also in &#8212; is a strong signal that this is more than a crowded-market bet. The AI-native framing for red-teaming and penetration testing is compelling: it collapses what is traditionally a slow, services-heavy workflow into continuous automated offense. The backer quality here (Arora ran Palo Alto Networks, Dean is arguably the most respected name in ML infrastructure) suggests real technical conviction underneath the marketing.</p><p><strong>Deeptune ($43M from Andreessen Horowitz): </strong>a16z leading a $43M round into a company building high-fidelity simulation environments for AI agents is a bet on the infrastructure layer of the agentic economy. The core insight &#8212; that AI agents need realistic, controllable sandboxes to train and evaluate before deployment &#8212; is analogous to what game engines did for robotics simulation. Noam Brown (poker AI legend, now at OpenAI) as an angel adds credibility to the technical approach. If the agent wave is real, simulation infrastructure is a required upstream investment.</p><p><strong>Latent Health ($80M from Spark Capital and Transformation Capital): </strong>An $80M Series A co-led by Spark and Transformation Capital for a clinical-AI medication access platform, with General Catalyst, McKesson Ventures, and Y Combinator also participating, reflects serious healthcare establishment buy-in. The combination of payer relationships, AI-driven prior authorization, and a medication access workflow positions this at the intersection of the two highest-friction points in US healthcare &#8212; getting drugs approved and getting them paid for. The McKesson Ventures participation in particular signals potential distribution leverage that most health AI startups lack.</p><p>___</p><p><strong>Disclosures</strong></p><p>This material is intended for information purposes only and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Unless otherwise stated, all views or opinions herein are solely those of the author(s), and thus any view, comments, or outlook expressed in this communication may differ substantially from any similar material issued by other persons or entities. The information contained in this communication is based on generally available information and although obtained from sources believed to be reliable, its accuracy and completeness cannot be assured and such information may be incomplete or condensed. The information in this communication does not constitute tax, financial, or legal advice.</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://postround.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Magid and Co! 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