Defense Tech Leads Week With Anduril’s $2.5B Raise

Want to keep track of the largest startup funding deals in 2025 with our curated list of $100 million-plus venture deals to U.S.-based companies? Check out The Crunchbase Megadeals Board.

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.

Software may be eating the world, but it was hardware-intensive startups that scooped up this week’s largest funding rounds, including heavily funded defense tech unicorn Anduril Industries, and orbital spacecraft developer Impulse Space.

1. Anduril Industries, $2.5B, defense tech: Defense tech startup Anduril Industries has raised $2.5 billion in a Series G round led by Founders Fund, more than doubling its valuation to $30.5 billion post-money, the company’s chairman, Trae Stephens, told Bloomberg TV on Thursday.

2. Impulse Space, $300M, spacetech: Impulse Space, a startup focused on orbital spacecraft that pull satellites into more precise locations, raised $300 million in a Series C round led by Linse Capital. The financing brings total funding to date for Redondo Beach, California-based Impulse to $525 million, per Crunchbase data.

3. TAE Technologies, $150M, fusion energy: Foothills Ranch, California-based TAE Technologies, a developer of commercial fusion power, raised $150 million in new funding. Chevron, Google and NEA participated in the financing, which brings total equity funding to date to $1.5 billion, per Crunchbase data.

4. (tied) Fever, $100M, events platform: Fever, a technology platform for live experiences, announced that it raised over $100 million in new funding from L Catterton and Point72. Founded in 2014, the New York-based company offers a platform for finding and booking concerts, games and other live events in a selected city.

4. (tied) Infleqtion, $100M, quantum computing: Boulder, Colorado-based Infleqtion, a developer of atom-based quantum systems for sensing and computing applications, raised $100 million in Series C funding. Backers included Glynn Capital Manaagement, Morgan Stanley’s Counterpoint Global, S32 and SAIC.

6. Spyglass Pharma, $75M, ophthalmic therapies: Spyglass Pharma, an Aliso Viejo, California-based developer of therapies for long-term management of glaucoma and other chronic ophthalmic diseases, raised $75 million in a Series D round led by Sands Capital. The financing brings total funding to date for the 6-year-old company to $185 million, per Crunchbase data.

7. Vivrelle, $62M, fashion: Vivrelle, a subscription service for luxury fashion accessories, raised a $62 million Series C funding round backed by Protagonist. Founded in 2018, the New York-based startup offers access to a collection of designer handbags, jewelry and diamonds for a monthly membership fee.

8. Allay Therapeutics, $58M, pain management: San Jose, California-based Allay Therapeutics, developer of medications for post-surgical pain management and recuperation, closed a $57.5 million Series D financing co-led by Lightstone Ventures and ClavystBio. The company is currently carrying out clinical trials for patients undergoing knee replacement surgery.

9. Antheia, $56M, synthetic biology: Antheia, a startup using synthetic biology to sustainably produce medicines, raised $56 million in a Series C led by EDBI and Global Health Investment Corp. The Menlo Park, California-based company plans to use the investment to scale production of thebaine, a key ingredient in Narcan, and to launch new products.

10. Pactum, $50M, artificial intelligence: Pactum, a startup offering an AI-enabled platform for enterprise procurement, raised $50 million in fresh funding, per a securities filing. The financing brings total funding to date for the Mountain View, California-headquartered company to $105 million, per Crunchbase data.

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 31-June 6. 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