Top Startup and Tech Funding News – May 11, 2025

It’s Monday, May 11, 2026, and we’re back with today’s top startup and tech funding news. Today’s rounds show investors doubling down on the infrastructure race powering AI, defense, robotics, healthcare, and next-generation computing. From military drone platforms and AI chipmakers to wave-powered data centers and orbital energy systems, capital is flowing toward companies building the physical and digital backbone of the next technology cycle.

Several of today’s biggest raises reflect a broader shift toward strategic technologies tied to national security, compute scalability, and industrial automation. Investors are increasingly prioritizing startups developing autonomous systems, enterprise AI infrastructure, robotics data platforms, and specialized hardware as competition intensifies across global markets. At the same time, healthcare AI and insurance automation continue to attract strong investor demand as industries seek ways to cut costs and improve operational efficiency.

Today’s deals span defense tech, space infrastructure, AI hardware, robotics, healthcare, climate tech, and enterprise software—and point to a growing appetite for startups building long-term infrastructure rather than short-term applications.

Tech Funding News

Funding Highlights

• Helsing raises $1.2B strategic round to expand autonomous defense drones
• MatX raises $500M Series B to build AI accelerator chips for data centers
• Cowboy Space raises $275M Series B for orbital solar power and space infrastructure
• Corgi raises $160M Series B to scale AI-powered business insurance
• Aidoc raises $150M Series E to expand clinical AI imaging platform
• Panthalassa raises $140M Series B for wave-powered AI data centers
• Portal Space Systems raises $50M Series A for maneuverable satellite platforms
• Config raises $27M seed to build robotics data infrastructure
• Ciridae raises $20M seed to bring AI automation to mid-market businesses
• Enzo Health raises $20M Series A for AI-driven home healthcare operations

Investor Activity

Today’s funding activity drew strong participation from investors targeting AI infrastructure, defense systems, enterprise automation, and next-generation industrial technologies. Goldman Sachs, TCV, Accel, Lightspeed, Andreessen Horowitz, and General Catalyst backed startups building foundational AI and automation platforms, while Peter Thiel, Breakthrough Energy Ventures, and major Asian industrial groups focused on energy, robotics, and space infrastructure.

Strategic investors, including Samsung, Hyundai, LG, Nvidia, and SoftBank, also continued expanding their exposure to robotics, healthcare AI, and specialized compute systems. Across sectors, investors are increasingly concentrating capital around startups building defensible infrastructure layers tied to AI scalability, automation, national security, and industrial modernization.

Helsing Raises $1.2B Strategic Funding Round for Defense Drone Expansion

Helsing, a 5-year-old European military drone maker, is reportedly close to raising about $1.2 billion at a valuation of roughly $18 billion. The round is expected to be led by Dragoneer and co-led by Lightspeed, adding to the $650 million raised in June 2025 (at a $14B valuation) led by Spotify’s Daniel Ek.

This massive funding will help Helsing scale production of its autonomous combat drones amid high demand from defense customers. Investors view Helsing as one of Europe’s top defense-tech startups, especially as military AI and drone innovation accelerate.

Founded in 2021 by Torsten Reil, Dr. Gundbert Scherf, and Niklas Kohler, Helsing develops AI-powered software that interprets data from sensors and weapons systems to help military operators make real-time battlefield decisions. The company expanded into hardware last year with the launch of its HX-2 drones.

Funding Details:

• Startup: Helsing
• Investors: Dragoneer (lead), Lightspeed (co-lead), Daniel Ek (existing)
• Amount Raised: $1.2 B (planned)
• Total Raised: ~$1.85 B (approx.)
• Stage: Strategic growth round
• Funding Date: May 11, 2026 (reported)

Cowboy Space Raises $275M Series B Funding to Build Orbital Solar Power Satellites

Cowboy Space (formerly Aetherflux) raised $275 million in a Series B led by Index Ventures. The round, at about a $2 billion valuation, attracted investors including Breakthrough Energy Ventures, Construct Capital, Blossom Capital, and Andreessen Horowitz. Cowboy Space builds solar-powered satellites that collect energy to power data centers and communications networks in space.

The fresh capital will fund the expansion of Cowboy’s orbital manufacturing and the launch of its larger “Supernova” spacecraft to assemble and power satellite constellations. With over $275M in total funding, Cowboy is now one of the most-funded U.S. space startups, reflecting investor enthusiasm for renewable energy and data centers in orbit.

Funding Details:

• Startup: Cowboy Space (formerly Aetherflux)
• Investors: Index Ventures (lead), Breakthrough Energy, Construct Capital, Blossom Capital, Andreessen Horowitz
• Amount Raised: $275 M
• Total Raised: $275 M (new)
• Stage: Series B
• Funding Date: May 2026

Ciridae Raises $20M Seed Funding to Bring AI to Mid-Market Businesses

Ciridae, an AI software startup, has raised $20 million in seed funding led by Accel, with participation from Andreessen Horowitz and General Catalyst. Founded by former a16z and Apple executives, Ciridae builds AI tools to help mid-market companies (in sectors like home services and industrials) digitize and automate their operations.

The founders argue that many “real economy” businesses are ripe for AI-driven transformation but lack the resources to build it themselves. With the new funding, Ciridae will expand its enterprise AI platform to serve more private-equity-backed companies and larger mid-market firms. This seed round (total funding now $20M) underscores growing investor interest in AI solutions beyond the typical tech giants.

Funding Details:

• Startup: Ciridae
• Investors: Accel (lead), Andreessen Horowitz, General Catalyst
• Amount Raised: $20 M
• Total Raised: $20 M (new)
• Stage: Seed
• Funding Date: May 11, 2026

Config Raises $27M Seed to Build Robotics Data Platform

Config, a startup from South Korea and the U.S., raised $27 million in an oversubscribed seed round led by Samsung Venture Investment. Strategic corporate investors, including Hyundai’s ZER01NE Ventures, LG Technology Ventures, and SK Telecom’s VC arm, joined as well, along with AI pioneer Pieter Abbeel and other funds. Config provides the data infrastructure (“TSMC of robot data”) needed to train next-generation robotics foundation models.

The seed funds (now totaling ~$35M raised) will help Config expand its data production networks and serve large manufacturers building advanced AI-powered robots. Backed by Korea’s top manufacturers, Config is positioning itself at the intersection of Asia’s manufacturing strength and the growing market for physical AI.

Funding Details:

• Startup: Config
• Investors: Samsung Venture Investment (lead), Hyundai’s ZER01NE Ventures, LG Technology Ventures, SKT America (others)
• Amount Raised: $27 M
• Total Raised: $35 M
• Stage: Seed
• Funding Date: May 11, 2026

Enzo Raises $20M Series A Funding for AI-Powered Home Healthcare

Enzo Health, an AI platform for home health agencies, secured $20 million in Series A funding led by N47. Existing backers Gradient Ventures, Tandem Ventures, and Rigby Watts also participated, bringing Enzo’s total funding to $26M. Enzo’s software automates front-office, clinical, and billing workflows for home-care providers. The new capital will accelerate the rollout of Enzo’s AI-enabled intake and documentation tools, helping agencies cope with growing demand from aging populations.

As Medicare cuts and staffing shortages squeeze the home health sector, Enzo aims to boost clinical efficiency and compliance. This round underscores investor interest in digitizing post-acute care, one of healthcare’s fastest-growing segments.

Funding Details:

• Startup: Enzo Health
• Investors: N47 (lead), Gradient Ventures, Tandem Ventures, Rigby Watts
• Amount Raised: $20 M
• Total Raised: $26 M
• Stage: Series A
• Funding Date: May 8, 2026

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

Panthalassa, a Portland-area climate tech startup, announced a $140 million Series B led by Peter Thiel. The company is developing floating “wave battery” platforms that combine massive ocean buoys with onboard AI computing centers. By converting the ocean’s energy into electricity onsite, Panthalassa’s technology powers its AI servers without external infrastructure.

The new funding (total raised $210M) will complete a manufacturing facility and begin pilot deployments of Panthalassa’s AI-equipped wave generators. This novel approach – dubbed an “ocean data center” – addresses the search for sustainable compute power as demand for AI grows. Thiel said the investment “opens the ocean frontier” for clean energy and data.

Funding Details:

• Startup: Panthalassa
• Investors: Peter Thiel (lead), John Doerr, TIME Ventures (Benioff), SciFi Ventures (Levchin), others
• Amount Raised: $140 M
• Total Raised: $210 M
• Stage: Series B
• Funding Date: May 6, 2026

Corgi Raises $160M Series B to Expand AI Insurance Platform

Corgi, a business insurance startup, closed a $160 million Series B round at a $1.3 billion valuation. The round was led by TCV, with participation from Kindred Ventures, Leblon Capital, and First Order Fund. Corgi’s AI-driven platform underwrites and issues coverage for small and mid-sized tech companies (general and cyber liability, including AI liability).

The new funding will triple its engineering team and broaden distribution across the U.S. With this round, Corgi has now secured $268 million in total funding. The large new round – just four months after its $108M Series A – reflects strong investor belief in Corgi’s ability to automate and scale complex insurance processes.

Funding Details:

• Startup: Corgi
• Investors: TCV (lead), Kindred Ventures, Leblon Capital, First Order Fund
• Amount Raised: $160 M
• Total Raised: $268 M
• Stage: Series B
• Funding Date: May 6, 2026

Aidoc Raises $150M Series E to Scale AI-Powered Medical Imaging

Aidoc, a global leader in AI medical imaging, raised $150 million in a Series E led by Goldman Sachs Growth Equity. Other investors in the round include General Catalyst, SoftBank Vision Fund 2, and NVIDIA’s VC arm NVentures. The investment brings Aidoc’s total funding past $500 million. Aidoc’s “CARE” clinical foundation model, which streamlines X-ray and CT diagnosis, already analyzes over 60 million cases a year across ~2,000 hospitals.

The new capital will expand this enterprise AI platform, accelerating clinical AI deployment to catch critical conditions earlier and reduce diagnostic errors. Aidoc’s CEO notes that the round supports the expansion of disease coverage and real-time AI-assisted imaging for global healthcare systems.

Funding Details:

• Startup: Aidoc
• Investors: Goldman Sachs Alternatives (lead), General Catalyst, SoftBank Vision Fund 2, NVentures
• Amount Raised: $150 M
• Total Raised: >$500 M
• Stage: Series E
• Funding Date: May 11, 2026

MatX Raises $500M Series B to Build AI Accelerator Chips

MatX, a venture-backed AI chipmaker, closed a $500 million Series B round led by Jane Street Capital. The round, co-led by Situational, values MatX at roughly $2.3 billion and brings its total funding to $600 million. MatX is developing custom neural-network accelerators for data centers, promising higher efficiency for large AI models. The company’s chips target inference workloads and are backed by major cloud providers.

The latest funding will turbocharge MatX’s chip development and production plans to meet surging demand for AI hardware, especially as large language models strain existing GPUs. The raise underscores the intensity of the AI hardware race to scale computing power in the cloud.

Funding Details:

• Startup: MatX
• Investors: Jane Street Capital (lead), Situational (co-lead)
• Amount Raised: $500 M
• Total Raised: $600 M
• Stage: Series B
• Funding Date: Feb 24, 2026

Portal Space Systems Raises $50M Series A for Maneuverable Satellites

Portal Space Systems, a startup making in-space propulsion for small satellites, raised $50 million in Series A funding led by Geodesic Capital and Mach33 Financial Group. Other participants include Booz Allen Ventures, Ark Invest, AlleyCorp, and FUSE. Portal’s goal is to enable satellite rideshare customers to change orbits after launch using its Supernova and Starburst spacecraft.

The new funds (total funding now ~$67.5M) will build out Portal’s manufacturing and prepare its first orbital demonstrations (planned on SpaceX Transporter missions). With this Series A, Portal – based in Washington state – is ramping up its team and facilities to capture growing demand for flexible satellite deployment.

Funding Details:

• Startup: Portal Space Systems
• Investors: Geodesic Capital (lead), Mach33 Financial, Booz Allen Ventures, Ark Invest, AlleyCorp, FUSE
• Amount Raised: $50 M
• Total Raised: ~$67.5 M
• Stage: Series A
• Funding Date: Apr 9, 2026

Tech Funding Summary Table