SA国际传媒

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This is a weekly feature that runs down the week鈥檚 top 10 announced funding rounds in the U.S. Check out last week鈥檚 biggest funding rounds here.

Not a bad week for a big funding announcement, as there were a couple nine-figure rounds in energy and loyalty rewards, but several just slightly smaller ones in a variety of other sectors. As the month wore on, investors seem to be opening their wallets 鈥� or at least the announcements were made.

1. , $500M, energy: This large round may have gone under the radar for many, but Austin, Texas-based Recurrent Energy secured a $500 million preferred equity investment from . The company 鈥� a utility-scale solar and energy storage project development, ownership and operations platform 鈥� will use the new capital to grow its 鈥渉igh value project development pipeline.鈥� Recurrent is a subsidiary of , and that company will continue to own the remaining majority shares of Recurrent after the investment closes. Founded in 2006, the company has raised about $1.4 billion, .

2. , $200M, loyalty rewards: Everybody loves loyalty rewards, and investors must know that. Bilt Rewards raised a $200 million round led by at a $3.1 billion valuation 鈥� more than double the number after its last fundraising in 2022. The New York-based startup allows consumers to earn rewards on the rent they pay. Bilt plans to use some of the proceeds to expand its network to include local dining, grocery stores, ridesharing and other retail purchases. The company also appointed some big names to roles in the company, naming , former chairman and CEO of , as its chairman, and , the commissioner of the , as an independent director. The company reported its annualized member spend is nearing $20 billion. It also became profitable on an earnings before interest, taxes, depreciation and amortization basis last year. Those metrics must have impressed investors, as Bilt has seen its valuation shoot up after raising a $150 million Series B at a pre-money valuation of $1.4 billion in October 2022. Founded in 2021, the company has raised a total of $413 million, .

3. , $90M, fintech: BillingPlatform鈥檚 revenue lifecycle management platform got a big shot in the arm this week with a $90 million round led by . Every company wants to increase revenue and find new revenue streams, so clearly FTV sees a growing market for the Denver-based startup鈥檚 platform. Founded in 2012, the company has now raised $104 million, .

4. , $80M, AI: Voice AI startup ElevenLabs raised an $80 million Series B at a unicorn valuation as investor interest in all AI tech remains at an all-time high. The Brooklyn-based company did not release an exact valuation, but did say it had reached 鈥渦nicorn status.鈥� That represents a significant up round from its Series A in June, when the firm raised $19 million at a $99 million post-money valuation. The Series B was co-led by , and . ElevenLabs allows creators, enterprises and others to use AI software to replicate voices in dozens of languages. Founded in 2022, ElevenLabs has raised $101 million, .

5. (tied) , $75M, biotech: Another week, another big biotech round. Lexington, Massachusetts-based Accent Therapeutics, a biopharmaceutical company developing small molecule precision cancer therapies, raised a $75 million Series C led by . The startup is looking at therapies to address several cancers with large patient populations, including breast and colorectal cancers. The round included participation from some big brand names, such as and . Founded in 2017, the company has raised $178 million, .

5. (tied) , $75M, biotech: Accent wasn’t the only $75 million raise this week, as we had a trio. LB Pharmaceuticals, a schizophrenia biotech startup, closed a $75 million Series C as it began a Phase II trial last month, . Founded in 2015, the company has raised more than $133 million, .

5. (tied) , $75M, energy: Tucson, Arizona-based Sion Power, a developer of next-generation batteries for electric vehicles, also secured $75 million in a Series A led by . VCs see big potential in EV batteries, so the investment size is not a shock. Founded in 1994, the company has raised $145 million, .

8. , $60M, health care: San Francisco-based SmithRx, a pharmacy benefits management company, closed a $60 million Series C led by . Founded in 2016, the company has raised nearly $98 million, .

9. , $50M, climate: San Jose, California-based AiDash, a SaaS startup helping infrastructure companies be more climate-resilient and sustainable with satellites and AI, raised a $50 million Series C led by . Founded in 2019, the company has raised $83 million, .

10. , $45M, recycling: Dallas-based CheckSammy, a bulk waste operator, closed a聽 $45 million strategic investment led by . Founded in 2018, the company has raised nearly $66 million, .

Big global deals

Recurrent鈥檚 raise was top globally, but the second largest came from Sweden.

• 厂迟辞肠办丑辞濒尘鈥檚 , which operates a green energy steel production plant, raised a large round worth about $516 billion, in which $326 billion was equity.

Methodology

We tracked the largest announced rounds in the SA国际传媒 database that were raised by U.S.-based companies for the seven-day period of Jan. 20 to 26. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

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