Another Billion-Dollar AI Raise Leads List That Includes Lots Of Biotech And More AI

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

This week ended up as a pretty active one for large startup financings. AI and biotech were the biggest areas for funding, led by Grammarly’s $1 billion raise, and a reported $600 million financing for brain implant developer Neuralink.

1. Grammarly, $1B, artificial intelligence: AI writing and productivity assistant Grammarly secured $1 billion in funding from longtime investor General Catalyst. The San Francisco-based company said it plans to use its new capital, which came from General Catalyst’s Customer Value Fund, “to scale sales and marketing and for strategic acquisitions.”

2. Neuralink, $600M, neuroscience: Neuralink, the Elon Musk-founded brain implant startup, reportedly raised $600 million in a funding round that sets a $9 billion pre-money valuation. The Fremont, California-based company is currently working on a clinical trial of its brain-computer interface for people with quadriplegia.

3. ClickHouse, $350M, analytics: ClickHouse, a provider of analytics, data warehousing and machine learning technology, raised $350 million in a Series C financing led by Khosla Ventures. The Palo Alto-California-based company also secured a $100 million credit facility led by Stifel Bank and Goldman Sachs.

4. Grin Therapeutics, $140M, biotech: New York-based Grin Therapeutics, a developer of therapies to treat serious neurodevelopmental disorders, closed on $140 million in Series D funding. The financing included a $65 million strategic equity investment from Angelini Pharma and $75 million from existing investor Blackstone Life Sciences.

5. Snorkel AI, $100M, artificial intelligence: Snorkel AI, announced it has raised $100 million in Series D funding at a $1.3 billion valuation. Addition led the financing for the 6-year-old Redwood City, California-based company, which makes tools for evaluation and tuning of specialized AI systems.

6. Syndeio Biosciences, $90M, biotech: Indianapolis-based Syndeio Biosciences, a developer of precision neurotherapeutics for central nervous system diseases, announced its launch this week in conjunction with securing over $90 million from a syndicate of life science investors. Backers include Catalio Capital Management and Innoviva.

7. David, $75M, food and beverage: David, a maker of energy bars in which 75% of calories come from protein, closed a $75 million Series A funding round led by Greenoaks and joined by Valor Equity Partners. The New York company also acquired Epogee, a food technology firm offering a plant-based fat alternative.

8. Empathy, $72M, bereavement: New York-based Empathy, a provider of support services for managing bereavement and loss, picked up $72 million in a Series C financing led by Adams Street Partners. The company’s partners include major life insurers, and it says 45 million policyholders across North America are currently able to use its offerings.

9. Hex Technologies, $70M, analytics: San Francisco-based Hex Technologies, provider of an AI-enabled analytics platform for data science teams, raised $70 million in Series C funding. Some backers in the round include Avra, Andreessen Horowitz, Sequoia Capital and Snowflake Ventures.

10. Vima Therapeutics, $60M, biotech: Vima Therapeutics, a Cambridge, Massachusetts-based startup focused on oral therapies for movement disorders announced its launch this week, along with $60 million in Series A financing led by Atlas Venture, with participation from Access Industries and Canaan Partners.

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the seven-day period of May 24-30. 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.

Illustration: Dom Guzman