The Week’s 10 Biggest Funding Rounds: Ascend Elements Climbs To The Top
Feb 23, 2024 - news.crunchbase.com
The article provides a rundown of the top 10 startup funding rounds in the U.S. for the week of Feb. 17 to Feb. 23, 2024. Ascend Elements, a manufacturer of sustainable battery materials for EVs, topped the list with a $162M investment, followed by Abridge and Antora Energy, both tied at $150M in healthcare and energy sectors respectively. Other startups that made the list include Hornblower Group, Recogni, Eigen Labs, Hadrian, Frontier Medicines, Clumio, and Fabric, with investments ranging from $60M to $121M in various sectors such as leisure, AI, blockchain, manufacturing, pharmaceuticals, data backup, and AI in healthcare.
Despite the significant funding rounds in the U.S., the largest deal was an AI round from China. Moonshot AI, a Chinese artificial intelligence startup, raised over $1 billion in a funding round led by Alibaba Group and HongShan, formerly Sequoia Capital China. The article also mentions that the U.S.-based semiconductor funding has slowed in recent quarters, despite the need for new chip designs due to industries such as AI and automotive.
Key takeaways:
The largest startup funding deal of the week was Ascend Elements, which raised $162M for its sustainable battery materials for EVs.
Two companies, Abridge and Antora Energy, tied for the second largest funding deal of the week, each raising $150M in their respective healthcare and energy sectors.
Despite a slowdown in semiconductor funding, Recogni, an AI startup, managed to raise $102M in its Series C funding round.
China's AI startup, Moonshot AI, raised more than $1 billion in a funding round, marking the largest global deal of the week.
