Top 10 funding round this week

Hello there,

Meet Ethan Thornton: 19 years old, MIT dropout, and founder of a startup that raised ~$80 million this week.

Thornton leads Mach Industries, a new defence-tech startup that brought in $79m in their latest raise.

Mach Industries is building hydrogen-powered products for defence departments. He made headlines earlier this year for his desire to replace gunpowder, but Mach is also looking to develop other products, e.g. unmanned aerial devices.

As much as we celebrate young founders, the startup world is littered with recent examples of 20-something founders who claimed we needed to ‘rethink’ industry X, and then sputtered out. No shade, just a reminder to always do the due dil.

Mach Industries is now valued at over $300m.

10 Biggest Rounds This Week 💵

1. Pulumi, an open source infrastructure code platform, gained $41m

2. Glydways, a robotaxi startup that aims to ferry people from airports to nearby train stations, obtained $56m

3. Brite Payments, an instant payments fintech, raised $60m

4. Clearco, a startup using AI to provide non-dilutive capital, raised a $60m Series D round

5. Mach Industries is developing hydrogen powered defence solutions. Raised $79m in their Series A

6. Prins, a startup using AI to develop digital identities, raised $100m

7. Cardata, a startup providing automated mileage reimbursement, raised $100m

8. Iambic, a healthtech creating therapeutics from its Gen-AI platform, brought in a $100m in their recent Series B

9. Headway connects patients and therapists. Raised $125m at a $1b valuation

10. Harbinger Health, a startup developing blood-based cancer screening solutions, raised $140m.

Trending 📈

Unicorn exits plummet

North America continues to dominate VC funding

Age founders became millionaires

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