SA国际传媒

This is a monthly feature that runs down the month鈥檚 top 10 funding rounds in the U.S. Check out the biggest rounds of last month here.

Lots of big rounds as summer fades into fall. AI startup 鈥檚 $1 billion round 鈥� for a startup that鈥檚 existed for only a few months 鈥� easily led the way. However, it wasn鈥檛 just AI that got funding in September, as biotech makes up about half the list.

1.听, $1B, artificial intelligence: AI research lab Safe Superintelligence raised $1 billion from a litany of big-name investors including and . The round valued the Palo Alto, California-based company at $5 billion, per , which first reported the round. SSI, co-founded by 鈥榮 former chief scientist , is looking to develop safe artificial intelligence systems 鈥� something that has been in the news a lot recently as fears increase of AI tech being harmful to humans and society. A proposed California bill that has proven controversial in the industry aims to put safety regulations and guardrails on AI 鈥� although many companies, including OpenAI, worry it may be too burdensome. With the new cash, 3-month-old SSI plans to add computing power and hire new talent.

2.听, $370M, biotech: The biggest biotech raise of the month went to Candid Therapeutics. The San Diego-based startup launched with a $370 million capital raise co-led by , , and. Candid is developing T-cell engager antibodies to treat inflammatory diseases.

3.听, $325M, biotech: South San Francisco-based Arsenal Biosciences had the next biggest biotech raise. The startup, a cell therapy company focused on engineering T-cell therapies for solid tumors, locked up a $325 million Series C from several investors, including new investors and funds and accounts advised by . The company鈥檚 pipeline includes potential therapies for ovarian, kidney and prostate cancers, as well as other solid tumors. Founded in 2019, the company has raised nearly $631 million, .

4.听, $260M, artificial intelligence: Less than seven months after raising a more than $200 million Series D at a $2.2 billion valuation, the AI-enhanced work assistant and enterprise search startup raised more than $260 million in a Series E funding at a $4.6 billion valuation co-led by and . The Palo Alto, California-based startup hit unicorn status in May 2023 after raising a $100 million Series C led by . Founded by former engineers, Glean鈥檚 generative AI search tool connects with enterprise companies鈥� applications and databases, and its AI assistant and platform lets users build their own AI apps. Founded in 2019, Glean says it has raised $620 million.

5.听, $230M, artificial intelligence: Spatial intelligence AI startup World Labs launched this month with more than $230 million in total funding. The funding was co-led by , and . Other investors include and , the venture capital arm of . It was reported just last month that the Stanford, California-based company had raised a pair of financing rounds two months apart, and that the latest valued the company at over $1 billion. World Labs is co-founded by artificial intelligence pioneer , commonly referred to as the 鈥済odmother of AI.鈥� She previously led AI at and is a co-director of the . She has spent much of her time trying to solve the issues surrounding building Large World Models for AI that can perceive and interact with the 3-D world.

6 (tied). , $200M, biotech: Bend, Oregon-based Ser谩n Bioscience, which provides development and manufacturing services to pharmaceutical and biotechnology companies, raised a $200 million-plus round led by . The startup plans to use the new funding to help build out its new commercial-scale manufacturing facility for drug delivery and other services. Founded in 2016, this is the company鈥檚 first round with a disclosed amount, .

6 (tied). , $200M, greentech: Carbon transformation startup Twelve locked up a lot of cash this month, including a $200 million Series C led by , and . However, that wasn鈥檛 the only money the Berkeley, California-based company saw, as it also raised $400 million in project equity led by and $45 million in credit facilities. The cash will be聽 used to help complete AirPlant One, the company鈥檚 first sustainable aviation fuel聽 plant. Founded in 2015, the company has raised nearly $890 million, .听

8.听, $191M, biotech: Cambridge, Massachusetts-based eGenesis, a biotech firm working to develop human-compatible engineered organs, closed a $191 million Series D led by . In March, eGenesis the world鈥檚 first successful transplant of a genetically engineered pig kidney to a human. The new cash will be used to advance a pipeline of programs. Founded in 2014, the company has raised $456 million, .

9.听, $175M, biotech: Boston-based Aktis Oncology, a clinical-stage biotech startup developing novel targeted alpha radiopharmaceuticals to treat a broad range of solid tumors, closed a $175 million Series B led by , and . In 2022, the company closed an $84 million extension round partially funded by large pharma companies such as , and , after raising a $72 million Series A round in 2021. Founded in 2021, the company has raised $331 million, .

10 (tied). , $140M, business travel: Engine, formerly Hotel Engine, booked a $140 million Series C led by a fund advised by private equity firm that values the Denver-based startup at $2.1 billion. The new valuation represents a 62% jump from its previous $1.3 billion value after a $65 million Series B in late 2021. That increase is no small feat considering many startups are still raising money in flat or even down rounds from their sky-high valuations during the record venture market of 2020 and 2021. It also shows the continued bounce back of business travel 鈥� one of the sectors most greatly affected by the COVID pandemic and one that has taken time to eventually return. Engine says it鈥檚 profitable and is growing its revenue 70% year over year. The company will use the fresh capital to support product development, including the launch of flight and rental car bookings to its platform. The company also announced it will rebrand to 鈥淓ngine.鈥� Founded in 2015, Engine has raised $221 million, .

10 (tied). , $140M, healthcare: Medicare Advantage insurer Zing Health raised $140 million from investors that included and . The Chicago-based startup鈥檚 mission is to provide managed care 鈥渢hat address social determinants of health to reduce healthcare disparities among historically underserved populations.鈥� Founded in 2019, the company has raised $330 million, .

Big global deals

All the biggest raises came from the U.S., but there was a large round that went to a European startup.

• Germany-based , a smart fitness startup that provides fitness and health facilities, raised a $200 million Series G.

Methodology

We tracked the largest rounds in the SA国际传媒 database that were raised by U.S.-based companies for the month of September 2024. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the month.

Illustration: