Top Startup and Tech Funding News – May 5, 2025

It’s Tuesday, May 5, 2026, and we’re back with today’s top startup and tech funding news. Today’s rounds highlight a clear shift toward AI infrastructure, compute optimization, next-gen energy systems, and platforms that quietly power large-scale digital operations. As demand for intelligent systems accelerates, investors are doubling down on the foundational layers, chips, power, data, and financial rails that make the AI economy possible.

Large early- and growth-stage rounds point to strong conviction in capital-intensive bets, from fusion and grid technology to AI model reliability and chip co-design. At the same time, scaled platforms in mobility, fintech, and biotech continue to attract fresh capital to extend their reach and defend market position. The mix of deals cuts across AI, energy, biosciences, marketplaces, and financial infrastructure—signaling a broader race to build systems that will underpin both physical and digital economies in the years ahead.

Tech Funding News

Funding Highlights

• World Labs raises $1B Series C to build spatial AI world models
• Inertia raises $450M Series A to develop fusion laser energy systems
• Vestwell raises $385M Series E to expand workplace savings platform
• Ricursive Intelligence raises $300M Series A for AI-driven chip design
• Kavak raises $300M Series E to scale used car platform in LatAm
• Korsana Biosciences raises $175M Series A to advance Alzheimer’s therapy
• Heron Power raises $140M Series B to build data center transformer tech
• Northwood Space raises $100M Series B for satellite ground station rollout
• Braintrust raises $80M Series B to monitor AI system reliability
• Novig raises $75M Series B to scale zero-fee sports betting marketplace

Investor Activity

Today’s funding reflects continued alignment between venture capital and strategic investors around core infrastructure for AI, energy, and financial systems. Firms such as Andreessen Horowitz, Lightspeed, and Sequoia are concentrating on platforms that control critical layers of the stack, from compute and chip design to global marketplaces. Meanwhile, corporates like Nvidia, AMD, and Autodesk are backing technologies that extend their ecosystems into spatial computing and industrial AI. On the growth side, capital providers including Blue Owl, Sixth Street, and Iconiq Growth are targeting platforms with proven traction in fintech and AI operations, while climate-focused investors continue to support electrification, grid resilience, and long-horizon energy bets.

Panthalassa Raises $140M Series B Funding for Wave-Powered AI Data Centers

Panthalassa, a Pacific Northwest climate-tech startup, announced a $140 million Series B round led by Peter Thiel. The Oregon company is developing floating data-center platforms powered by wave energy. Its technology pairs giant ocean buoys with onboard AI computing: wave power runs AI servers at sea, with data sent via low-Earth-orbit satellites.

Panthalassa will use the new funds to finish a pilot manufacturing facility near Portland and begin producing its Ocean-3 pilot series (commercial deployments are planned by 2027). This funding is notable as one of the largest investments in wave-energy tech and reflects growing demand for innovative, off-grid compute solutions for climate-friendly data centers.

Funding Details:

• Startup: Panthalassa – ocean-based AI data centers
• Investors: Peter Thiel (lead), John Doerr (NEA), Marc Benioff/Time Ventures, Max Levchin/SciFi Ventures, Susquehanna Sustainable Investments, Hanwha Group, Anthony Pratt, Fortescue Ventures, Future Positive, WTI Capital, Nimble Partners, Super Micro, Sozo Ventures, Dylan Field, Planetary VC, Leblon Capital, Resilience Reserve, Portland Seed Fund, Intrepid Oregon Fund (with Founders Fund, Gigascale, Lowercarbon, Unless, WovenEarth in prior rounds)
• Amount Raised: $140M
• Total Raised: $210M
• Funding Stage: Series B
• Funding Date: May 4, 2026

Reserv Raises $125M Series C Funding for AI-Powered Insurance Claims

Reserv, a New York–London insurance tech startup, said it closed a $125 million Series C led by KKR. Reserv’s platform uses generative AI to automate claims processing for insurers and third-party administrators. The company was founded in 2022 and has built an “AI layer” that can triple or double an insurer’s claims-handling capacity while minimizing the need for human reviewers. In its announcement, Reserv noted it is already processing hundreds of thousands of claims annually across multiple insurance lines.

The new funding will enable Reserv to expand its customer base (particularly among large P&C insurers) and improve its AI models. Industry observers say the round underlines continued investor interest in AI-driven enterprise SaaS for the $700 billion U.S. insurance market.

Funding Details:

• Startup: Reserv – AI-based insurance claims processing
• Investors: KKR (lead), Bain Capital Ventures, Flourish Ventures
• Amount Raised: $125M
• Total Raised: $125M (Series C round)
• Funding Stage: Series C
• Funding Date: May 4, 2026

Cytospire Therapeutics Raises $83M Series A for T-Cell Cancer Therapy

U.K. biotech Cytospire Therapeutics announced an £61 million (≈$83 million) Series A round. The London-based company is developing a “pan–γδ T-cell engager” (CYT-X300) that targets EGFR-positive solid tumors. Cytospire says this financing will advance its lead candidate into clinical trials. Investors in the round include 4BIO Capital, Servier Ventures, the British Business Bank, Sound Bioventures, Criteria Bio Ventures, Abingworth, LifeArc Ventures, Modi Ventures, Medical Incubator Japan, and Pathway Bioventures.

Founded in 2016 by leaders in T-cell immunotherapy, Cytospire will use the funds to leverage growing translational data on gamma-delta T cells. Observers note the round comes amid sustained biotech interest in engineered immune-cell therapies, especially as Cytospire’s approach is designed to be “off-the-shelf” and potency-optimized for solid tumors.

Funding Details:

• Startup: Cytospire Therapeutics – γδ T-cell engager therapies (cancer)
• Investors: 4BIO Capital, Servier Ventures, British Business Bank, Sound Bioventures, Criteria Bio Ventures, Abingworth, LifeArc Ventures, Modi Ventures, Medical Incubator Japan, Pathway Bioventures
• Amount Raised: $83M
• Total Raised: $83M
• Funding Stage: Series A
• Funding Date: May 5, 2026

Standard Intelligence Raises $75M Series A for Computer-Use AI Models

Seattle-based startup Standard Intelligence announced a $75 million funding round, led by Sequoia and Spark Capital. The six-person company has built a specialized “foundation model” (FDM-1) that learns to control software via video, automating complex computer tasks. Unlike typical AI models trained on screenshots, Standard Intelligence’s model is trained on annotated video of users interacting with applications.

This approach enables it to perform tasks such as software vulnerability scanning or CAD design by directly interacting with GUIs. The new capital will be used to expand computing capacity and develop AI safety guardrails for its models. Industry analysts view this raise as validation for “agentic” AI startups tackling enterprise automation, even with very lean teams (Standard Intelligence had only a handful of employees).

Funding Details:

• Startup: Standard Intelligence – AI foundation model for software automation
• Investors: Sequoia Capital, Spark Capital (lead)
• Amount Raised: $75M
• Total Raised: $75M
• Funding Stage: Series A
• Funding Date: April 30, 2026

Moment Energy Raises $40M Series B Funding for EV Battery Repurposing

Moment Energy (Vancouver, Canada) raised $40 million in a Series B funding led by Evok Innovations, with support from Liberty Mutual Strategic Ventures and W23. Moment is an EV battery recycling startup that converts used electric vehicle batteries into grid-scale energy storage. The funds will help build a “battery gigafactory” in Texas to repurpose thousands of end-of-lease batteries. In announcing the round, Moment noted its technology triples the usable life of batteries and boosts overall storage safety.

Founder Brett Szajner said the capital will scale production of bi-directional inverters and cooling systems needed for second-life EV batteries. The deal highlights growing investment in circular energy solutions as demand for energy storage surges; Reuters data notes EV battery repurposing as a key part of clean-energy infrastructure growth.

Funding Details:

• Startup: Moment Energy – EV battery recycling and storage
• Investors: Evok Innovations (lead), Liberty Mutual Strategic Ventures, W23 Capital
• Amount Raised: $40M
• Total Raised: $40M (Series B round)
• Funding Stage: Series B
• Funding Date: May 5, 2026

CopilotKit Raises $27M Series A for AI Agent Protocols

CopilotKit, a Seattle AI startup, closed a combined $27 million financing (a new $20M Series A plus a prior $7M seed) led by Glilot Capital and NFX. CopilotKit offers an “agent protocol” – tools that enable software applications to embed generative AI agents. Its API allows app developers to integrate chatbots that can navigate and interact with an application’s user interface. In its announcement, CopilotKit noted that some of the biggest tech companies are already using its platform to power agentic chatbots for their products.

The fresh funding (with participation from SignalFire and other investors) will be used to accelerate R&D on the underlying software and grow the team. Observers see CopilotKit’s raise as part of a broader trend to bake AI agents into enterprise software, where “co-pilot” assistants are in high demand.

Funding Details:

• Startup: CopilotKit – AI agent integration platform
• Investors: Glilot Capital (lead), NFX (co-lead), SignalFire
• Amount Raised: $27M
• Total Raised: $27M
• Funding Stage: Series A
• Funding Date: May 5, 2026

Vori Raises $22M in Series B Funding for AI Grocery Store Automation

Grocery-tech startup Vori announced a $22 million Series B funding led by Cherryrock Capital. Vori’s “self-driving operating system” automates inventory, ordering, payments, and other back-office functions for independent supermarkets. The founder, Brandon Hill, positions Vori as a way for local grocers to compete with Walmart and Amazon by digitizing their stores.

The new funds (with participation from Greylock Partners and The Factory) will expand Vori’s AI-driven payment and supply chain tools to more retailers. According to Fortune, Vori has already processed over $500 million in transactions across 55 cities since its 2024 launch. Investors say the sector is underserved by software, and this round underscores interest in “grocery tech” to modernize a $1.5 trillion industry still rife with fax machines and paper.

Funding Details:

• Startup: Vori – AI-powered supermarket management software
• Investors: Cherryrock Capital (lead), Greylock Partners, The Factory (Chris Ré’s fund)
• Amount Raised: $22M
• Total Raised: ~$32M (including prior $10M Series A in 2022)
• Funding Stage: Series B
• Funding Date: May 5, 2026

Nova Intelligence Raises $31.5M Series A for AI SAP Migration Tools

UK startup Nova Intelligence secured $31.5 million in a Series A round led by Chemistry Venture Capital. Nova builds AI agents that help companies migrate legacy systems into SAP S/4HANA (an $89B enterprise market). Its “Generative Automation Agent” uses large language models to suggest configuration, data mapping, and testing workflows for SAP rollouts. Nova will use the capital to expand its agentic AI platform and hire more engineers.

Early customers include global manufacturers seeking to accelerate costly SAP implementation projects. Observers note that ERP migrations are ripe for AI automation, and Nova’s raise follows a recent wave of specialized AI enterprise tools. The $31.5M round (including Plexus Ventures and AI Fund as investors) values the company at a high-growth multiple in its niche.

Funding Details:

• Startup: Nova Intelligence – AI software migration assistant (SAP S/4HANA)
• Investors: Chemistry Ventures (lead), Project A, Plexus Ventures, AI Fund, others
• Amount Raised: $31.5M
• Total Raised: $31.5M
• Funding Stage: Series A
• Funding Date: May 5, 2026

Snabbit Raises $56M Series D Funding for On-Demand Home Services

Snabbit, an on-demand home services platform based in Bangalore, closed a $56 million Series D round. The round was led by Susquehanna Venture Capital, with Mirae Asset Venture Investments and Bertelsmann India Investments participating. Snabbit connects consumers with professionals for repairs, maintenance, and other services (akin to a platform like Handy in Western markets). It said the new capital will fuel expansion in India’s metro and tier-1 cities and deepen service categories.

Snabbit’s co-founder said the funds will be used for marketing, talent acquisition, and adding “category depth” to its platform. In India’s growing home services market, this is one of the largest recent raises, reflecting investor confidence in on-demand consumer platforms.

Funding Details:

• Startup: Snabbit – on-demand home services marketplace
• Investors: Susquehanna Venture Capital (lead), Mirae Asset Venture Investments, Bertelsmann India Investments
• Amount Raised: $56M
• Total Raised: $56M (Series D round)
• Funding Stage: Series D
• Funding Date: May 4, 2026

Kimbal Technologies Raises $22M Series B Funding for AI-Enhanced Smart Grids

Hyderabad-based Kimbal Technologies announced a ₹210 crore (≈$22 million) Series B round, led by GEF Capital Partners. Kimbal builds advanced smart-grid systems for India’s power infrastructure, using AI to balance supply and demand. Its platform integrates distributed energy resources and grid hardware to optimize electricity distribution.

The new funding (with participation from Niveshaay) will be used for R&D and deployment of Kimbal’s solutions with state utilities. The company says its technology can smooth out fluctuations in renewable energy. In context, this round underscores continued interest in “deep-tech” grid startups in India, a country keen to upgrade its aging grid and integrate more solar and wind power.

Funding Details:

• Startup: Kimbal Technologies – AI-powered smart grid solutions
• Investors: GEF Capital Partners (lead), Niveshaay Ventures
• Amount Raised: $22M
• Total Raised: $22M (Series B)
• Funding Stage: Series B
• Funding Date: May 4, 2026

Tech Funding Summary Table