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The Week’s 10 Biggest Funding Rounds: Databricks And Generate Biomedicines Lead Another AI Surge

Sep 15, 2023 - news.crunchbase.com
The article lists the top 10 startup funding rounds in the U.S. for the week of Sept. 9 to Sept. 15, 2023. The largest funding round was by Databricks, an AI-enhanced data analytics company, which raised $500 million in a Series I round led by T. Rowe Price Associates, valuing the company at $43 billion. Other notable funding rounds include Generate Biomedicines, which raised $273 million in a Series C round for its generative AI platform for drug invention, and Lyten, an advanced materials company, which raised $200 million in a Series B round led by Prime Movers Lab.

The article also highlights the increasing influence of AI in various industries, with four of the top six funding rounds directly related to AI. Nvidia, a chip-making giant, has been actively investing in AI startups. The largest global deal of the week was by France-based Verkor, a manufacturer of low-carbon batteries, which raised approximately $2.1 billion in a Series C round.

Key takeaways:

  • Databricks, an AI-enhanced data analytics company, raised more than $500 million in a Series I funding round, valuing the company at $43 billion.
  • Generate Biomedicines, a biotech startup that has developed a generative AI platform to rapidly invent new drugs, raised a $273 million Series C financing.
  • Lyten, a company that manufactures lightweight composites, next-gen IoT sensors, and lithium-sulfur batteries, raised a $200 million Series B funding round.
  • EquipmentShare, a provider of equipment and digital solutions for the construction industry, raised a $150 million extension to a previous funding round, bringing the total to $440 million.
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