The article also highlights the biggest funding round outside the U.S., which was secured by Brazil-based fintech startup QI Tech, raising approximately $205M in a Series B round. The data was compiled from the Crunchbase database, tracking the largest announced rounds raised by U.S.-based companies for the specified week.
Key takeaways:
- Next Insurance led the week's funding with a $265 million strategic round from Allstate and Allianz’s investment arm, Allianz X, making it one of the largest raised this year in the insurtech industry.
- MapLight Therapeutics secured a $225 million Series C for its treatments for neuropsychiatric and neurological conditions, bringing its total funding to nearly $270 million.
- Shield AI, an aerospace and defense startup, raised a $200 million Series F, marking the biggest round of the year in the sector.
- Infinitum Electric, a company creating light air-core motors, raised a $185 million Series E, bringing its total funding to $350 million, to expand business and increase production of its motors to meet decarbonization demand in the industrial sector.