Top Startup and Tech Funding News – August 11, 2025

It’s Monday, August 11, 2025 — and we’re back with a fresh round of startup and tech funding news updates from across the globe. Today’s capital flow spans high-stakes biotech launches, multi-billion-dollar fintech financing, and ambitious plays in rare-earth manufacturing, AI automation, aerospace, and Africa’s fast-growing food delivery market. From billion-dollar debt raises to nimble Series A bets, investors are backing founders tackling critical supply chains, healthcare access, and digital transformation at scale.

Funding Highlights

The lineup includes SetPoint Medical’s $140 million push to bring a breakthrough neuroimmune therapy for rheumatoid arthritis to U.S. patients, IntraFi’s $2 billion leveraged loan to strengthen banking liquidity, and Vulcan Elements’ $65 million Series A to onshore rare-earth magnet production. We also see momentum in emerging markets with Truemeds expanding affordable healthcare across India, Chowdeck scaling food delivery in Africa, and Graas.ai automating e-commerce with AI agents. Aerospace and sports betting are in the mix too, with JEH Aerospace and Novig raising growth capital to expand their footprint.

Investor Activity

Investor participation cuts across continents — from Altimeter Capital and Forerunner Ventures to Accel, Peak XV Partners, and Novastar Ventures — reflecting a broad conviction in solutions that address both global infrastructure gaps and next-generation consumer experiences.

Today’s deals offer a snapshot of the market’s current priorities: strategic supply chain control, healthcare cost reduction, operational automation, and tech-enabled platforms that challenge incumbents.

Here’s the full breakdown.

SetPoint Medical Raises $140M in Funding to Launch Rheumatoid Arthritis Therapy

SetPoint Medical, a California-based biotech, has secured $140 million in private financing to propel the U.S. launch of its novel neuroimmune therapy for rheumatoid arthritis. The company’s FDA-approved SetPoint System uses targeted vagus nerve stimulation to control inflammation, offering an alternative to broad immunosuppressant drugs.

This hefty capital infusion, co-led by new healthcare-focused investors, will fund the commercialization of SetPoint’s bioelectronic therapy and fuel development of treatments for other autoimmune diseases. The round’s completion (spanning a final Series C tranche and a large Series D) underscores strong investor confidence in SetPoint’s potential to transform autoimmune care.

Funding Details:

• Startup: SetPoint Medical

• Investors: Elevage Medical Technologies (co-lead), Ally Bridge Group (co-lead), Northwell Health, SPRIG Equity, with returning backers including Norwest Venture Partners, New Enterprise Associates (NEA), and Viking Global Investors.

• Amount Raised: $140 million

• Total Raised: Not disclosed

• Funding Stage: Series D (plus extension of Series C)

• Funding Date: August 11, 2025

IntraFi Raises $2B in Debt Deal to Bolster FinTech Liquidity

IntraFi, a Washington, D.C.-based fintech known for its bank deposit network, secured $2 billion through a leveraged loan transaction orchestrated by Wall Street banks. The sizable debt financing, led by Morgan Stanley and a consortium of major banks, provides IntraFi with ample capital to refinance existing obligations and return cash to its private equity owners. The deal — a win for traditional banks over private credit lenders — signals strong institutional support for IntraFi’s model of connecting financial institutions to manage liquidity. With this funding, IntraFi is positioned to enhance its services that help banks safely expand deposits and fund loans across the U.S. banking system.

Funding Details:

• Startup: IntraFi

• Investors: Morgan Stanley (lead arranger) and a syndicate of leading Wall Street banks providing the debt financing

• Amount Raised: $2 billion

• Total Raised: Not disclosed (debt financing)

• Funding Stage: Debt Financing (Leveraged Loan)

• Funding Date: August 11, 2025

Truemeds Raises $85M Series C Funding to Expand Affordable Healthcare in India

Truemeds, a Mumbai-based e-pharmacy and telehealth startup, has raised $85 million in Series C funding to accelerate its push into India’s smaller cities and towns. The round was completed in two tranches — initially led by Accel and subsequently by Peak XV Partners (formerly Sequoia India) — with continued support from WestBridge Capital and Info Edge Ventures.

Founded in 2019 by Akshat Nayyar and Dr Kunal Wani, Truemeds has built a fast-growing platform that helps patients save on prescription costs by switching to safe, low-cost generic medicines. With this new capital, the six-year-old company plans to triple its reach nationwide by adding fulfillment centers in high-demand areas, hiring top engineering talent, and opening a new technology hub in Bengaluru. The funding quadruples Truemeds’ valuation from its last round, reflecting investor optimism in its affordable healthcare model.

Funding Details:

• Startup: Truemeds

• Investors: Accel (lead – first tranche), Peak XV Partners (lead – second tranche), WestBridge Capital, Info Edge Ventures

• Amount Raised: $85 million

• Total Raised: ~$113 million to date

• Funding Stage: Series C

• Funding Date: August 11, 2025

Vulcan Elements Raises $65M in Series A Funding to Onshore Rare-Earth Magnets

Vulcan Elements, a North Carolina-based manufacturer of rare-earth magnets, raised $65 million in Series A funding at a $250 million valuation to scale up U.S. production of this critical technology. The round was led by Altimeter Capital, with participation from One Investment Management, 1789 Capital, Ibex Investors, and NVP Capital, among others.

Founded in 2023, Vulcan aims to establish a domestic supply of high-performance magnets used in everything from electric vehicles and drones to defense systems. The new funding will finance a large-scale manufacturing facility capable of producing hundreds of tons of magnets annually within a few years. Vulcan’s growth comes amid a national push to onshore supply chains and reduce reliance on Chinese rare-earth materials — a strategic move for both commercial innovation and national security.

Funding Details:

• Startup: Vulcan Elements

• Investors: Altimeter Capital (lead), One Investment Management, 1789 Capital, Ibex Investors, NVP Capital, among others

• Amount Raised: $65 million

• Total Raised: $65 million (first major round)

• Funding Stage: Series A

• Funding Date: August 11, 2025

Novig Lands $18M in Funding to Shake Up Sports Betting Market

Novig, a New York-based peer-to-peer sports betting startup, has raised $18 million in Series A funding to expand its zero-commission wagering platform. The round was led by Forerunner Ventures, a prominent consumer tech investor, with follow-on participation from prior backers including Y Combinator, NFX, Perceptive Ventures, and Gaingels.

Novig’s marketplace allows users to bet directly against each other, eliminating the “vig” (house fee) that traditional sportsbooks charge. Launched in late 2024, the platform has gained traction with its free-to-play and real-money betting options that promise better odds for sports fans. The fresh capital will help Novig grow its user base and roll out into new U.S. states as it looks to undercut incumbent bookmakers and modernize the sports betting experience.

Funding Details:

• Startup: Novig

• Investors: Forerunner Ventures (lead), Y Combinator, NFX, Perceptive Ventures, Gaingels, and angel investor Joe Montana (via Liquid 2 Ventures)

• Amount Raised: $18 million

• Total Raised: $24.4 million

• Funding Stage: Series A

• Funding Date: August 11, 2025

JEH Aerospace Secures $11M in Series A Funding for Tech-Driven Manufacturing

JEH Aerospace, an Atlanta and Hyderabad-based aerospace manufacturing startup, has raised $11 million in a Series A round to ramp up its high-tech production of aircraft components. The investment was led by Elevation Capital, attracted by JEH’s ability to blend advanced software automation with deep manufacturing know-how.

Co-founders Vishal R. Sanghavi and Venkatesh Mudragalla — who previously ran Lockheed Martin’s joint ventures in India — launched JEH to alleviate supply chain bottlenecks in the aerospace industry. In just 18 months since its seed round (backed by General Catalyst), JEH has built a 60,000 sq. ft. smart factory in Hyderabad and secured over $100 million in contracts. With the new funding, the company is scouting U.S. locations for a major production facility and aims to set new standards for efficient, end-to-end digital manufacturing of aerospace parts.

Funding Details:

• Startup: JEH Aerospace

• Investors: Elevation Capital (lead)

• Amount Raised: $11 million

• Total Raised: Not disclosed

• Funding Stage: Series A

• Funding Date: August 11, 2025

Chowdeck Raises $9M in Series A Funding to Scale African Food Delivery

Chowdeck, a Lagos-based food delivery startup, has raised $9 million in Series A funding to accelerate its expansion across Nigeria and Ghana. Remarkably, Chowdeck has already achieved profitability in Africa’s notoriously tough food delivery market by focusing on local meals and operational efficiency. The new round was led by Novastar Ventures, with participation from Y Combinator, AAIC Investment, Rebel Fund, GFR Fund, Kaleo, HoaQ, and others.

The fresh capital will help Chowdeck launch a quick-commerce offering for groceries and essentials, backed by a network of dark stores to enable ultra-fast delivery. Founded in 2021, Chowdeck now operates in 11 cities with 1.5 million customers and over 20,000 delivery riders. With plans to open dozens of micro-fulfillment centers, the company aims to become Africa’s leading super app for food and everyday items.

Funding Details:

• Startup: Chowdeck

• Investors: Novastar Ventures (lead), Y Combinator, AAIC Investment, Rebel Fund, GFR Fund, Kaleo, HoaQ, and others

• Amount Raised: $9 million

• Total Raised: ~$11.5 million (including prior seed round)

• Funding Stage: Series A

• Funding Date: August 11, 2025

Graas.ai Nets $9M in Funding to Automate E‑commerce with AI Agents

Graas.ai, an AI-driven data and automation startup for online retail, has raised $9 million in a pre-Series B round to advance its “agentic” e-commerce platform. The funding was led by Tin Men Capital, with participation from InCred Wealth, Orzon Ventures, and returning investors Integra Partners and Yuj Ventures.

Graas (short for “Growth-as-a-Service”) provides an AI-powered stack that helps e-commerce businesses optimize operations — from customer acquisition costs and pricing to inventory management — using autonomous software agents. The fresh funds will fuel the rollout of Agent Foundry, Graas’s proprietary environment for building and deploying these AI agents at scale in India and Southeast Asia. By addressing key pain points in online retail profitability, Graas.ai aims to enable more merchants to grow efficiently in the competitive e-commerce landscape.

Funding Details:

• Startup: Graas.ai

• Investors: Tin Men Capital (lead), InCred Wealth, Orzon Ventures, Integra Partners, Yuj Ventures

• Amount Raised: $9 million

• Total Raised: ~$49 million

• Funding Stage: Pre-Series B

• Funding Date: August 11, 2025

Tech Funding Summary Table