It’s Friday, September 12, 2025, and we’re back with the top startup and tech funding news stories that shaped the week. From billion-dollar quantum bets and Europe’s AI champions to early-stage breakthroughs in logistics, women’s health, and cybersecurity, investors showed no signs of pulling back. Capital poured across stages, from seed rounds to multibillion-dollar late-stage financings.

This week’s coverage spans Monday, September 8, through Friday, September 12, spotlighting both global giants and scrappy challengers. PsiQuantum led headlines with a colossal $1 billion Series E to accelerate fault-tolerant quantum computing, while Mistral AI secured a historic €1.7 billion round co-led by ASML to cement Europe’s role in the AI race. Cognition AI soared to a $10.2 billion valuation with its $400 million raise, Perplexity AI banked $200 million at a $20 billion valuation to scale its conversational search, and CuspAI landed $100 million to build its AI-driven materials discovery platform.

Funding Highlights

• PsiQuantum raised a massive $1 billion in Series E funding to advance million-qubit quantum systems.

• Mistral AI closed €1.7 billion in Series C funding to scale open-source AI models.

• Cognition AI hit a $10.2 billion valuation with its $400 million funding round.

• Perplexity AI secured $200 million to expand its AI-powered search engine.

• CuspAI pulled in $100 million in Series A funding to accelerate the discovery of new materials.

• Augment raised $85 million in Series A funding for its AI logistics assistant.

• Diana Health delivered $55 million Series C to expand women’s health clinics.

• ReOrbit landed €45 million in Series A funding to build sovereign satellites for Europe.

• Koi emerged with $48 million to reinvent endpoint security.

• Motion secured $38 million Series C to scale its AI “work suite” for SMBs.

• Clyx raised $14 million in Series A funding for its friendship-focused social app.

• Musiversal brought in $6 million in Series A funding for remote music collaboration.

• Aurva exited stealth with $2.2 million in seed for AI-driven data observability.

• FirstClub raised $23 million in Series A funding to expand quick commerce in India.

• Speedchain pulled in $111 million to reshape fintech for the construction industry.

Investor Activity

The week drew participation from top global investors and corporates. BlackRock, Temasek, Baillie Gifford, Nvidia Ventures, Andreessen Horowitz, and Founders Fund anchored the biggest rounds, while health-focused funds like HealthQuest Capital backed growth in women’s health. Companies, including Samsung Ventures and Nvidia, doubled down on strategic bets in deep tech, while early-stage VCs such as Redpoint Ventures, 8VC, and Nexus Venture Partners made their mark in seed and Series A deals.

The spread revealed a familiar barbell pattern: multibillion-dollar rounds fueling capital-intensive AI and quantum computing alongside a healthy wave of early-stage financings in fintech, logistics, healthtech, and creative tools. Together, these financings show investor conviction in bold bets across science, software, and infrastructure.

Here’s the full breakdown. Until next week, have a great weekend.

Mistral AI Attracts €1.7B in Series C Funding to Scale Europe’s Open-Source AI Ambitions

Mistral AI, a Paris-based OpenAI competitor, has closed a monumental €1.7 billion (about $2 billion) Series C round at a €11.7 billion valuation. This marks one of Europe’s largest startup fundraises ever, providing Mistral with a massive war chest to develop its next-generation open-source AI models.

Co-founded by former researchers from Google’s DeepMind and Meta, Mistral has quickly become a focal point in the AI race, with governments and investors seeing it as Europe’s answer to Big Tech’s AI dominance. The new funding, co-led by Dutch chipmaker ASML and other top investors, will fuel Mistral’s efforts to build powerful AI systems and scale its infrastructure, positioning the young startup as a global AI heavyweight.

Funding Details:

• Startup: Mistral AI

• Investors: ASML (lead), DST Global, Andreessen Horowitz, Bpifrance, General Catalyst, Index Ventures, Lightspeed Venture Partners, NVIDIA

• Amount Raised: €1.7 billion (≈ $2 billion)

• Total Raised: ~€2.1 billion (inclusive of prior rounds)

• Funding Stage: Series C

• Funding Date: September 9, 2025

PsiQuantum Secures $1B in Series E Funding to Build Fault-Tolerant Quantum Computers

PsiQuantum, a Silicon Valley quantum computing startup, has raised a staggering $1 billion in Series E funding to accelerate the development of its photonic quantum computers. The Palo Alto-based company – which uses light particles on silicon chips to aim for a million-qubit, error-corrected quantum system – is now valued at around $7 billion post-money.

This round, one of the largest deep-tech financings of the year, will bankroll new production facilities and large-scale test systems as PsiQuantum works to deliver the world’s first commercially useful quantum computer. The startup also announced a collaboration with Nvidia to integrate its quantum architecture with Nvidia’s chips, a partnership expected to turbocharge PsiQuantum’s development efforts.

Funding Details:

• Startup: PsiQuantum

• Investors: BlackRock (lead), Temasek, Baillie Gifford, Nvidia (NVentures), Macquarie Capital, Ribbit Capital

• Amount Raised: $1 billion

• Total Raised: ~$2 billion

• Funding Stage: Series E

• Funding Date: September 10, 2025

Cognition AI Snags $400M in Funding, Valued at $10.2B, to Advance AI Coding Agents

Cognition AI, the San Francisco startup behind the AI coding assistant “Devin,” has secured $400 million in fresh funding, vaulting its valuation to $10.2 billion. The hefty raise – more than doubling Cognition’s valuation from earlier this year – underscores investor confidence in the company’s vision of AI-assisted software development. Cognition’s platform uses generative AI agents to write and debug code, and the funding follows rapid growth in its user base and revenue.

The company recently acquired rival Windsurf to bolster its technology, and despite some internal turbulence, it continues to push an aggressive “80-hour workweek” culture in pursuit of market leadership. The new capital will help Cognition scale its enterprise offerings and maintain its edge in the booming AI-for-coding sector.

Funding Details:

• Startup: Cognition AI

• Investors: Founders Fund (lead), Lux Capital, 8VC (Joe Lonsdale), Elad Gil, Definition Capital, Swish Ventures

• Amount Raised: $400 million

• Total Raised: Not disclosed (estimated over $500 million)

• Funding Stage: Late-stage (Series B/C)

• Funding Date: September 8, 2025

Perplexity AI Banks $200M in Funding to Scale Its Conversational Search Platform

Perplexity AI, the buzzy AI-powered search startup, has reportedly raised $200 million in new funding at a massive $20 billion valuation. The Bay Area startup, which offers a conversational answer engine seen as a challenger to Google Search, has now amassed about $1.5 billion in total funding. This latest cash infusion comes only two months after Perplexity’s previous $100 million raise, reflecting feverish investor demand despite a lack of public detail on the deal’s lead backers.

Perplexity’s AI assistant can answer complex user queries with cited sources, and the startup’s annual recurring revenue is approaching $200 million, according to insiders. With this funding, Perplexity is poised to double down on R&D and infrastructure as it takes on tech giants in the search arena.

Funding Details:

• Startup: Perplexity AI

• Investors: Undisclosed (prior round led by Accel; existing top-tier VCs involved)

• Amount Raised: $200 million

• Total Raised: ~$1.5 billion

• Funding Stage: Late-stage (Undisclosed round)

• Funding Date: September 10, 2025

CuspAI Lands $100M Series A for AI-Driven Materials Discovery

CuspAI, a Cambridge, UK-based deep tech startup, has closed a hefty $100 million Series A round to build out its AI platform for materials discovery. Co-led by U.S. venture firm NEA and Singapore’s Temasek, the round also includes strategic backing from Nvidia’s NVentures and Samsung Ventures. CuspAI is developing what it calls an “AI search engine for the material world,” using artificial intelligence to accelerate the identification of new chemicals and materials with desired properties.

Its technology, which has already attracted partnerships with the likes of Hyundai and Meta, promises to cut R&D time in industries from semiconductors to climate tech. With this new funding – and notable angel support from AI luminaries like OpenAI’s Durk Kingma and Hugging Face’s Thomas Wolf – CuspAI plans to scale its operations globally and accelerate the discovery of breakthrough materials.

Funding Details:

• Startup: CuspAI

• Investors: NEA (co-lead), Temasek (co-lead), Nvidia NVentures, Samsung Ventures, Giant Ventures, LocalGlobe, Northzone (plus angel investors from OpenAI, Synthesia, Hugging Face)

• Amount Raised: $100 million

• Total Raised: ~$130 million (including prior seed round)

• Funding Stage: Series A

• Funding Date: September 10, 2025

Augment Grabs $85M Series A to Automate Logistics with AI “Teammates”

Augment, an AI logistics startup founded by Deliverr’s former CEO Harish Abbott, has raised a massive $85 million Series A round to scale its digital freight assistant. The San Francisco-based company’s AI agent, nicknamed “Augie,” acts as a virtual teammate for shippers and freight brokers – handling tedious tasks like obtaining trucking quotes, tracking shipments, and processing invoices.

The new funding, which comes just five months after Augment’s $25 million seed launch, was led by Redpoint Ventures with participation from 8VC and Autotech Ventures. Augment’s technology aims to streamline communications across email, voice, and messaging, allowing human logistics managers to focus on high-level relationships and negotiations. With over 50 customers already piloting Augie, Augment will use the capital to hire aggressively (50+ engineers) and expand into more areas of supply chain management.

Funding Details:

• Startup: Augment

• Investors: Redpoint Ventures (lead), 8VC, Autotech Ventures, and others

• Amount Raised: $85 million

• Total Raised: $110 million

• Funding Stage: Series A

• Funding Date: September 4, 2025

Diana Health Delivers $55M Series C to Expand Tech-Enabled Women’s Health Clinics

Diana Health, a Nashville and New York-based women’s health startup, has raised $55 million in Series C funding to grow its network of modern maternity and women’s health clinics. The company partners with hospitals to establish “whole-person” OB/GYN care programs, integrating midwives, mental health, and wellness services into traditional maternity care.

The new round was led by healthcare investor HealthQuest Capital, with strong support from existing backers including Norwest Venture Partners, .406 Ventures, LRVHealth, and AlleyCorp. With this infusion, Diana Health plans to scale into additional hospital systems, enhance its digital care platform, and continue improving maternal outcomes. Founded by CEO Kate Condliffe, Diana Health has now raised about $100 million total as it seeks to modernize women’s health services across the U.S.

Funding Details:

• Startup: Diana Health

• Investors: HealthQuest Capital (lead), Norwest Venture Partners, .406 Ventures, LRVHealth, AlleyCorp

• Amount Raised: $55 million

• Total Raised: ~$100 million

• Funding Stage: Series C

• Funding Date: September 12, 2025

ReOrbit Raises €45M in Series A Funding to Build Sovereign Satellites for Europe

ReOrbit, a Finnish space startup focused on “sovereign” satellite technology, has raised €45 million (about $53 million) in Series A funding. Billed as Finland’s largest-ever space tech round, the financing was organized by Springvest, a platform enabling Finnish private investors and family offices to participate. Institutional backers also joined in, including existing investors Varma and Elo (Finnish pension funds) and venture firms like Icebreaker.vc, Expansion VC, 10x Founders, and Inventure.

Founded in 2019 and based in Helsinki, ReOrbit provides both satellite hardware and an “iOS-like” software layer to help nations launch and operate their own communications satellites. Its approach appeals to countries seeking an alternative to relying on Elon Musk’s Starlink. With one national contract already worth several hundred million euros, ReOrbit took this funding to accelerate growth – aiming to become a “sales unicorn” with €1 billion in orders over the next four years.

Funding Details:

• Startup: ReOrbit

• Investors: Springvest (lead/organizer), Varma, Elo, Icebreaker.vc, Expansion VC, 10x Founders, Inventure

• Amount Raised: €45 million (≈ $53 million)

• Total Raised: ~$60 million (including prior seed funding)

• Funding Stage: Series A

• Funding Date: September 8, 2025

Koi Nets $48M in Funding to Reinvent Endpoint Security with AI

Koi, a Washington, D.C.-based cybersecurity startup, emerged from stealth with a combined $48 million in seed and Series A funding to redefine endpoint security for modern enterprises. Founded in 2024 by veterans of Israel’s elite Unit 8200 cyber unit, Koi addresses the blind spots caused by employees installing unvetted software on their work devices. Its platform adds a centralized “security layer” on endpoints, using an AI engine for real-time risk analysis and automated policy enforcement against threats.

The financing includes a $38 million Series A led by Battery Ventures, Team8, Picture Capital, and NFX, alongside a $10 million prior seed; additional investors include Cerca Partners. With over 500,000 devices already protected in pilot, Koi will use the funds to accelerate product development and scale its go-to-market as companies seek better defenses against software supply chain risks.

Funding Details:

• Startup: Koi

• Investors: Battery Ventures, Team8, Picture Capital, NFX (co-leads); with participation from Cerca Partners

• Amount Raised: $48 million (Seed + Series A combined)

• Total Raised: $48 million

• Funding Stage: Seed & Series A

• Funding Date: September 10, 2025

Motion Snaps Up $38M in Series C Funding to Build an AI “Work Suite” for SMBs

Y Combinator-backed Motion has raised $38 million in a Series C round to expand its AI-powered “work suite” for small and mid-sized businesses. The San Francisco startup offers a platform of intelligent digital workers that autonomously handle routine tasks in areas like sales, marketing, and project management. After six years of development, Motion’s product has evolved from a simple productivity tool into a comprehensive agentic workflow platform that integrates with business apps and automates multi-step processes without custom coding.

The oversubscribed Series C was led by Scale Venture Partners (with Scale’s Stacey Bishop joining Motion’s board) and included strong insider support from HOF Capital, 468 Capital, SignalFire, and YC, plus new investors like Valor Equity Partners and Fellows Fund. With total funding now at $75 million, Motion plans to accelerate R&D on its AI “employees” and expand its customer base, as over 10,000 SMBs already use the tool to offload busywork and boost productivity.

Funding Details:

• Startup: Motion

• Investors: Scale Venture Partners (lead); HOF Capital; 468 Capital; SignalFire; Y Combinator; Valor Equity Partners; Fellows Fund

• Amount Raised: $38 million

• Total Raised: $75 million

• Funding Stage: Series C

• Funding Date: September 11, 2025

Clyx Raises $14M in Series A Funding to Help People Make Friends In-Person

Clyx, a startup founded by 25-year-old Alyx van der Vorm, has secured $14 million in Series A funding to scale its friendship-focused social app. Launched in college and driven by the founder’s own experience of loneliness, Clyx uses AI to curate local events and match users with similar interests to foster in-person meetups. With about 50,000 active users and 200,000 browsing users, the app plans to expand to New York and São Paulo using the new capital.

Funding Details:

• Startup: Clyx

• Investors: Blitzscaling Ventures; Simon Sinek; Venmo’s cofounder; other early-stage/backers

• Amount Raised: $14 million

• Total Raised: Not disclosed

• Funding Stage: Series A

• Funding Date: September 2025 (around September 10-12, 2025)

Musiversal Lands $6M Series A to Expand Online Music Collaboration Tools

Musiversal, a platform that enables remote recording sessions and collaboration among musicians, has raised $6 million in Series A funding. Led by Iberis Capital with participation from Lince Capital, the round elevates Musiversal’s ability to roll out its U.S. operations, build out its product features (co-writing, remote production, marketing tools), and enhance its community for creators.

Funding Details:

• Startup: Musiversal

• Investors: Iberis Capital (lead); Lince Capital; other participants

• Amount Raised: $6 million

• Total Raised: $10 million (including prior rounds)

• Funding Stage: Series A

• Funding Date: September 10, 2025

Aurva Exits Stealth with $2.2M Seed Round in Data Security / AI Observability

Aurva, a recently revealed data security startup, has emerged from stealth with $2.2 million in seed funding, led by Nexus Venture Partners. It focuses on AI-based observability and access monitoring—ensuring that data systems are both secure and transparent. The funds will be used to scale operations, enhance product capabilities, and establish a stronger market presence.

Funding Details:

• Startup: Aurva

• Investors: Nexus Venture Partners (lead)

• Amount Raised: $2.2 million

• Total Raised: $2.2 million

• Funding Stage: Seed

• Funding Date: September 2025 (within Sept 8-12 window)

FirstClub Raises $23M in Series A Funding to Expand Quick Commerce in Bengaluru

FirstClub, a quality-driven quick commerce startup based in Bengaluru, India, has raised $23 million in a Series A round. Led by existing investors Accel and RTP Global, with support from Blume Founders Fund, 2am VC, Paramark Ventures, and Aditya Birla Ventures, the startup is valued at roughly Rs 1,050 crore (about $120 million) and aims to greatly expand its delivery footprint across Bengaluru ahead of the Diwali season.

Funding Details:

• Startup: FirstClub

• Investors: Accel (existing); RTP Global; Blume Founders Fund; 2am VC; Paramark Ventures; Aditya Birla Ventures

• Amount Raised: $23 million

• Total Raised: Not disclosed fully, but valuation ~ $120 million

• Funding Stage: Series A

• Funding Date: September 2025 (close to mid-September)

Speedchain Pulls in $111M in Funding for Fintech Serving the Construction Industry

Speedchain, an Atlanta-based fintech startup focused on offering commercial card programs to construction companies, has secured $111 million in external capital. The funds are earmarked to scale its platform, deepen its financing and payments capabilities, and accelerate its growth in the construction tech space.

Funding Details:

• Startup: Speedchain

• Investors: Not fully disclosed in summary; outside capital includes venture investors backing fintech infrastructure growth

• Amount Raised: $111 million

• Total Raised: Not disclosed

• Funding Stage: Venture / Growth stage

• Funding Date: September 12, 2025

Tech Funding Summary Table