VCs deployed $743M in early-stage global startups this week between July 15 to July 21, per Crunchbase data. FinTech sector raked in 18% of the funding this week. Biotech, healthcare, and AI sectors nabbed 17%, 14%, and 10% of the financing, respectively. Here are the top five largest rounds announced this week: - Unstructured data orchestration platform Hammerspace raised $56.7M through its first institutional investment round. Prosperity7 Ventures led the round with additional support from Pier 88 Ventures, ARK Invest, and others.
- Southlake, Texas-based cardio-renal disease treatment maker Renibus Therapeutics held the initial close of its Series B funding round at $47M.
- General purpose zero-knowledge virtual machine technology maker Risc Zero secured $40M in Series A funding led by Blockchain Capital.
- Corporate credit card fintech startup Karat Financial nabbed $70M in Series B funding. The funding consists of a $40M equity tranche led by SignalFire and a $30M debt facility provided by TriplePoint Capital.
- Cambridge, Massachusetts-based biotech startup Surge Therapeutics closed its Series B funding round at $32M. Bioluminescence Ventures led the funding round, joined by KdT Ventures, Piedmont Capital, 8VC, Alumni Ventures, Khosla Ventures, and others.
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