Growthink Capital Research tracked $4.23 billion in new venture funding in January 2024, a significant increase from $2.63 billion tracked in December 2023.
The month’s biggest funding event belonged to Quantinuum ($300 million) a quantum computing application designed for the automotive, pharmaceuticals, energy, chemicals, finance, logistics, life sciences, biotech, manufacturing, and defense sectors enabling researchers and developers to work seamlessly across multiple platforms and tackle some of the most intriguing problems in chemistry, material science, finance, and optimization.
Eleven companies raised $100 million or more in January. Other than Lightmatter, the other Ten companies that raised the most are as follows:
- Doc.com ($300 million) a healthcare technology designed to connect patients with required healthcare assistance enabling patients to get timely required assistance.
- Shield AI ($300 million) an artificial intelligence-based drone technology designed to protect service members and civilians with intelligent systems enabling teams of aircraft to perform missions ranging from room clearance to penetrating air defense systems, and dog fighting.
- NineDot Energy ($225 million) an urban energy solution designed to deliver economic savings to reduce carbon emissions and improve environmental equity enabling clients to contribute solar systems and vehicle-to-grid (V2G) capabilities for economic savings while reducing carbon emissions.
- DailyPay ($175 million) a financial system platform intended to serve health care, retailers, restaurants, travel and hospitality, grocers and supermarkets, and call and contact centers enabling employees to have their money sent directly to any bank account, debit card, and prepaid card, and use it to pay bills, build savings, invest money, and buy goods and services.
- Kore.ai ($150 million) an optimization platform designed to help organizations design, develop, test, and manage chatbots for internal or customer-facing business scenarios enabling clients to improve digital customer interactions, business processes, and employee work through conversational interfaces.
- Zum ($140 million) an on-demand ride and care service intended to offer reliable transportation and care for children enabling parents to save time spent on driving children to school and other activities.
- Silverfort ($116 million) an authentication platform designed to extend secure authentication on-premises or cloud, without agents, proxies, or code changes enabling enterprises to close the gaps in their security and compliance by bringing risk-based multi-factor authentication for all sensitive users, devices, and resources across the organization.
- e2Companies ($100 million) a vertically integrated virtual utility company intended to help with ESG compliance enabling businesses to promote value and flexibility and helping them make an effective social impact on their local community, client, and project sites.
- ExtraHop ($100 million) a cyber analytics platform committed to protecting and propagating trust by revealing the cyber truth enabling its customers to receive real-time threat detections and guided investigation powered by cloud-scale machine learning efficiently.
- Lykos Therapeutics ($100 million) a psychedelic medicine and therapy intended to help people heal and grow. The company specializes in the research, development, and integration of psychedelic medicines and therapies into the healthcare system.
—————————————————————————————————————-
Take our Fundability Test. If you had additional capital, could you use it to grow your company? Or to fund a liquidity event for you and your shareholders?
We’ve built a unique network of investors who are looking to invest in companies with the right, key characteristics.
To see if your company has them, take our “Fundability Test.”
—————————————————————————————————————-
The hottest sectors for funding during the month were Biotech, Climate Tech, Healthtech, A.I./Machine Learning, and Cybersecurity.
Key funding events in each of these sectors for the month are below:
-
Biotech deals included Lykos Therapeutics ($100 million), HI-Bio ($95 million), Elephas Biosciences ($55 million), Radionetics Oncology ($52 million), Halia Therapeutics ($30 million), BioCentriq ($29.2 million), Myrobalan Therapeutics ($24 million), Granata Bio ($14 million), Certis Oncology ($10 million), AcuraStem ($7 million), and Vasa Therapeutics ($6 million).
-
Climate Tech deals included NineDot Energy ($225 million), Captura ($21.5 million), ZymoChem ($21 million), Crux ($18.2 million), Cultivo ($14 million), Tynt Technologies ($7.1 million), and Resynergi ($6.4 million).
-
Healthtech deals included Doc.com ($300 million), Artisight ($42 million), Lightship ($34 million), Motif Neurotech ($18.8 million), Care Continuity ($10 million), Arbital Health ($10 million), and Credo Health ($5.2 million).
-
A.I./Machine Learning deals included Shield AI ($300 million), Kore.ai ($150 million), AiDash ($50 million), AiCure ($16 million), Recraft ($12 million), and PredictAP ($8 million).
-
Cybersecurity deals included Silverfort ($116 million), ExtraHop ($100 million), Aqua Security ($60 million), Oleria ($33 million), Clerk ($30 million), and Vicarius ($30 million).
If you’re looking for outside funding to grow your company, please don’t hesitate to call us at (213) 927-3968 or fill out Growthink Capital’s contact form here.
