The Weekly Notable Startup Funding Report takes us on a trip across various ecosystems in the US, highlighting some of the notable funding activity in the various markets that we track. The notable startup funding rounds for the week ending 10/24/26 featuring funding details for IMIO, Town, Erebor, and 26 other deals representing $4.3B in new funding that you need to know about.
SummitPoint OS is the operating system for venture, guided by Frank. Hand him the work.
Venture runs on databases you search and spreadsheets you maintain. SummitPoint OS is one workspace for founders, investors and Industry Partners, and Frank, SummitPoint’s agentic AI analyst, does the work: builds the investor pipeline and writes the briefing on every name, screens the inbound deal against your thesis, watches every founder in your program, and shows you what he did.
Tenstorrent – $1.5B
Santa Clara-based Tenstorrent develops processor technologies and computing systems for AI, machine learning, and high-performance computing applications. Founded by Ivan Hamer, Ljubisa Bajic, and Milos Trajkovic in 2016, Tenstorrent has now raised a total of $2.5B in total equity funding and is backed by Agostinelli Group, ARK Investment Management, Brett Barna, Cadence Ventures, Eclipse, Fidelity, Innovation X Advisors, Maverick Silicon, Morgan Stanley, Protagonist, Sandisk, Tether Ventures, Trace Capital, Troluce Capital Advisors, T. Rowe Price, Virtu Financial, and XTX Markets.
Flapping Airplanes – $1.0B
San Francisco-based Flapping Airplanes is an artificial intelligence research lab that focuses on advancing foundational AI technologies. Founded by Aidan Smith, Asher Spector, and Benjamin Spector in 2025, Flapping Airplanes has now raised a total of $1.2B in total equity funding and is backed by A*, Absolute Ventures, Atreides Management, Bain Capital Ventures, CRV, Definition, Duquesne Family Office, Fundomo, Genesis Ventures, Google Ventures, Henry Kravis, HOF Capital, Hummingbird Ventures, Index Ventures, Jump Trading, Kleiner Perkins, Lux Capital, Meyer Malka, Nova Global, NVIDIA, Sequoia Capital, Seven Stars, Snowy Leopard Ventures, Steven Cohen, Valor Capital Group, and XTX Ventures.
ASI – $325.0M
Boston-based ASI develops artificial intelligence software for managing complex physical operations across aviation, defense, energy, and logistics. Founded by Kris Dorosz, Lucas Kukielka, and Phillip Buckendorf in 2018, ASI has now raised a total of $359M in total equity funding and is backed by Andreessen Horowitz, Citadel Securities, Craft Ventures, Energy Impact Partners, Meritech Capital Partners, and Spark Capital.
Xona – $250.0M
Burlingame-based Xona develops satellite-based positioning, navigation, and timing technology for precise location and time data. Founded by Adrien Perkins, Brian Manning, Bryan Chan, Jerami Martin, Kazuma Gunning, Paul Tarantino, and Tyler Reid in 2019, Xona has now raised a total of $550M in total equity funding and is backed by Future Ventures and Industrious Ventures.
Whop – $205.0M
Brooklyn-based Whop enables individuals and businesses to sell digital products, subscriptions, courses, and memberships online. Founded by Cameron Zoub, Jack Sharkey, and Steven Schwartz in 2021, Whop has now raised a total of $478M in total equity funding and is backed by Sequoia Capital and Shopify Ventures.
Eka Robotics – $150.0M
Cambridge-based Eka Robotics develops robotics and artificial intelligence systems for physical task automation. Founded by Tuomas Haarnoja in 2025, Eka Robotics has now raised a total of $150M in total equity funding and is backed by Andreessen Horowitz and F-Prime.
Tractian – $130.0M
Atlanta-based Tractian develops industrial monitoring hardware and software that help businesses manage overall equipment health. Founded by Gabriel Lima, Igor Marinelli, and Leonardo Vieira in 2019, Tractian has now raised a total of $313.7M in total equity funding and is backed by 53 Stations, Bosch Ventures, Endeavor Catalyst, General Catalyst, M&G Investments, MONASHEES, N47, Norte Ventures, Sapphire Ventures, and Y Combinator.
Town – $108.0M
San Francisco-based Town is a personal AI assistant that manages the inbox, schedules meetings, and takes care of various tasks in the background. Founded by Jean-Denis Greze and Tony Vincent in 2024, Town has now raised a total of $186.1M in total equity funding and is backed by Andreessen Horowitz, Better Tomorrow Ventures, Brendan Foody, First Round Capital, Forerunner, Josh Silverman, Menlo Ventures, Precedent.vc, Romain Huet, Scott Belsky, Scribble Ventures, Serena Ventures, Sparked Ventures, Steve Bartel, Taro Fukuyama, and Varun Anand.
Reliable Robotics – $90.0M
Mountain View-based Reliable Robotics develops automation systems for aircraft that enable remotely operated and autonomous flight operations. Founded by Juerg Frefel and Robert Rose in 2017, Reliable Robotics has now raised a total of $383.5M in total equity funding and is backed by Geek Ventures, Gideon Capital, Gold Hill Capital, Island Green Capital, Nimble Partners, Rock Creek, and Sparkwave Capital.
Blacksmith – $66.0M
San Francisco-based Blacksmith is a cloud infrastructure company that provides infrastructure for developers to continuously test and deploy software. Founded by Aayush Shah, Aditya Jayaprakash, and Aditya Maru in 2024, Blacksmith has now raised a total of $125M in total equity funding and is backed by Google Ventures, Peak XV Partners, Premji Invest, Sequoia Capital, and Y Combinator.
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Daytona – $60.0M
New York-based Daytona provides cloud infrastructure for running AI-generated code and autonomous AI agents in isolated environments. Founded by Goran Draganic, Ivan Burazin, and Vedran Jukic in 2023, Daytona has now raised a total of $91M in total equity funding and is backed by Adam D’Angelo, Alumni Ventures, Aravind Srinivas, Brendan Foody, e2vc, Eric Yuan, Evergreen Fund, FirstMark, Okta Ventures, Olivier Pomel, Pace Capital, Patrick Collison, Qualcomm Ventures, Samsung NEXT, Tobi Lutke, Torch Capital, and Upfront Ventures.
Kevel – $52.0M
Durham-based Kevel is a developer of ad-serving APIs to help developers build server-side ad platforms. Founded by James Avery in 2010, Kevel has now raised a total of $96.7M in total equity funding and is backed by dunnhumby Ventures, Fulcrum Equity Partners, Iberis Capital, and Orix Corporation USA’s Growth Capital Business.
Formic – $40.0M
Bolingbrook-based Formic provides robotic automation systems and managed services that help manufacturers automate production and material-handling tasks. Founded by Misa Ilkhechi and Saman Farid in 2020, Formic has now raised a total of $99.4M in total equity funding and is backed by Citi, Light Ray Ventures, Lightscape Partners, Mercato Partners, and SignalRank.
Watchtower Labs – $35.0M
Burlingame-based Watchtower Labs develops AI-powered decision software for military planning and operations. Founded by Akhil Iyer, John Morman, and Suren Aghajanyan in 2024, Watchtower Labs has now raised a total of $35M in total equity funding and is backed by Conviction, Founders Fund, IQT, and Shield Capital.
Mach9 – $34.5M
San Francisco-based Mach9 develops AI-powered CAD software that automates drafting and mapping for surveying and civil engineering projects. Founded by Alexander Baikovitz, Haowen Shi, Michael Mong, and Zachary Sussman in 2021, Mach9 has now raised a total of $51.3M in total equity funding and is backed by Bessemer Venture Partners, First Round Capital, Prudence, and Quiet Capital.
Erebor – $30.0M
Columbus-based Erebor provides commercial banking, digital asset infrastructure, and custody services for innovation-focused businesses. Founded by Owen Rapaport and Palmer Luckey in 2025, Erebor has now raised a total of $656M in total equity funding and is backed by Robinhood Ventures.
Maxinsights – $30.0M
San Francisco-based Maxinsights develops data collection and processing solutions that support the training and evaluation of physical AI and robotics systems. Founded by Kun Wang and Yuguang Yuan in 2024, Maxinsights has now raised a total of $30M in total equity funding and is backed by Alumni Ventures, INCE Capital, Peak XV Partners, South Park Commons, and Tola Capital.
Portola – $30.0M
San Francisco-based Portola develops a state-of-the-art, 3D, voice-native AI companion featuring animated alien personalities for conversational support. Founded by Ajay Mehta, Evan Goldschmidt, and Quinten Farmer in 2023, Portola has now raised a total of $60M in total equity funding and is backed by Homebrew and Union Square Ventures.
Slingshot Insurance – $27.0M
Minneapolis-based Slingshot Insurance develops an AI-powered insurance infrastructure platform designed to support embedded insurance programs. Founded by Brock Noland, Ethan Genteman, Jeff Hinck, and Justin Kaufenberg in 2026, Slingshot Insurance has now raised a total of $27M in total equity funding and is backed by Jim Hays, Rally Ventures, and Skyward Specialty.
Nirva – $25.0M
San Francisco-based Nirva Labs creates premium, AI-powered jewelry that automatically tracks moods, journals daily life, and maps social relationships. Founded by Hanying Hu, Jason Chen, and Wei Lyu in 2025, Nirva has now raised a total of $33M in total equity funding and is backed by Lightspeed Venture Partners and South Park Commons.
SummitPoint OS is the operating system for venture, guided by Frank. Hand him the work.
Venture runs on databases you search and spreadsheets you maintain. SummitPoint OS is one workspace for founders, investors and Industry Partners, and Frank, SummitPoint’s agentic AI analyst, does the work: builds the investor pipeline and writes the briefing on every name, screens the inbound deal against your thesis, watches every founder in your program, and shows you what he did.
AuxoAI – $20.7M
San Francisco-based AuxoAI provides AI consulting services that help organizations integrate AI into business operations and decision-making processes. Founded by Amaresh Tripathy, Arvinder Pal Singh, and Kabir Singh in 2022, AuxoAI has now raised a total of $20.7M in total equity funding and is backed by Amit Zavery, George Still, Giacomo Sonnino, and NTT Venture Capital.
Mural – $15.0M
New York-based Mural offers a financial platform for cross-border payments, fund transfers, and digital asset transactions. Founded by Chris Fernandes, Kevin Alvarez Fung, and Sinclair Toffa in 2022, Mural has now raised a total of $20.6M in total equity funding and is backed by North Island Ventures and Tether.
AlleyWatch’s exclusive coverage of this round: Mural Raises $15M to Give Fintechs a Compliant System of Record for Global Money Movement
IMIO – $12.0M
Chicago-based IMIO develops biological products for agriculture that use naturally occurring microorganisms to support crop production and soil health. Founded by Charles Smith in 2023, IMIO has now raised a total of $18M in total equity funding and is backed by Cultivate Next, Earth Foundry, Nextwave X Partners, Serra Ventures, Sofinnova Partners, and Starshot Capital.
Electric Plant Company – $11.2M
San Francisco-based Electric Plant Company is a biotechnology company that converts electrical signals into actionable data to improve plant and tree care. Founded by Justin Mast and Lee von Kraus in 2023, Electric Plant Company has now raised a total of $11.2M in total equity funding and is backed by 640 Oxford, Climactic VC, Dug Song, Endeavor Catalyst, Everywhere Ventures, Ludlow Ventures, Michigan Outdoor Innovation Fund, Michigan Rise, Onto Ventures, Ponderosa Ventures, and Schox Venture Capital.
VECKTA – $11.0M
San Diego-based VECKTA is the intelligence platform and marketplace powering onsite energy procurement and deployment. Founded by Calvin Fine, Dan Roberts, Felipe Sarrubi, Gareth Evans, and Tristan Jackson in 2019, VECKTA has now raised a total of $17.8M in total equity funding and is backed by Catalyst by Wellstar, Cove Fund, Emerald Bay Ventures, Engage, Mobilize AI x Energy VC, Origin Ventures, She’s Independent, Tech Square Ventures, and VoLo Earth Ventures.
ScribeUp – $10.0M
Los Angeles-based ScribeUp embeds subscription management into the banking experiences of fintechs, banks & credit unions. Founded by Jordan Mackler and Yohei Oka in 2021, ScribeUp has now raised a total of $13M in total equity funding and is backed by Curql, Mucker Capital, and Service Ventures.
BioStack – $9.5M
San Francisco-based BioStack is a digital platform that provides healthcare AI training environments and curated multimodal clinical datasets. Founded by Parth Patwa and Sanat Mishra in 2025, BioStack has now raised a total of $10M in total equity funding and is backed by Afore Capital, DCVC, Emerson Collective, Peak XV Partners, Streamlined, SV Angel, Verdict Capital, and Y Combinator.
Rebill – $5.4M
Miami-based Rebill provides financial infrastructure for businesses and platforms operating across the Americas. Founded by Ariel Díaz Ailán, Francisco Andrés León V., Nahuel Candia, and Ruben Maier Enzler in 2020, Rebill has now raised a total of $9M in total equity funding and is backed by Arash Ferdowsi, Guillermo Rauch, Soma Capital, SV Angel, Tiger Global Management, and Y Combinator.
HapWare – $1.5M
Golden-based HapWare helps people who are blind, have low vision, are deaf-blind, or are neurodivergent access nonverbal communication cues. Founded by Bryan Duarte and Jack Walters in 2025, HapWare has now raised a total of $1.8M in total equity funding and is backed by Adaptation Ventures, Avesta Fund, Mines Venture Fund, Sidecut Ventures, and The Pitch Fund.
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