The Week’s 10 Biggest Funding Rounds: Fervo Energy And Glean Lead The Way In Another Strong Week
Mar 01, 2024 - news.crunchbase.com
The article discusses the top 10 startup funding deals in the U.S. for the week of Feb. 24 to March 1, 2024. The sectors that saw significant funding include energy, artificial intelligence, biotech, agtech, and healthcare. The largest deal was for Fervo Energy, a geothermal developer, which secured $244M in funding led by Devon Energy Corp. Other notable deals include Glean, an AI-enhanced work assistant startup, which raised over $200M, and FogPharma, a biopharmaceutical startup, which closed a $145M round.
Despite a slight slowdown in the number of $100M+ deals compared to the previous weeks, the funding landscape remained strong. The article also highlighted a few unusual sectors, such as a vertical farming agtech startup, Oishii Farm, which raised $134M. However, the biggest global deal came from China, with electric vehicle manufacturer Zhiji Automobile raising a $1.1B Series B round.
Key takeaways:
Five companies raised nine-figure rounds this week, with the largest being a $244 million funding round for energy company Fervo Energy.
Artificial intelligence startup Glean secured a $200 million Series D round, reaching a $2.2 billion valuation.
Biotech startups FogPharma and Alamar Biosciences raised $145 million and $128 million respectively, indicating a strong week for the biotech sector.
Agtech startup Oishii Farm raised $134 million for its vertical farming operations, marking a resurgence in the sector.
