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Want to keep track of the largest startup funding deals in 2024 with our curated list of $100 million-plus venture deals to U.S.-based companies? Check out The ºìÌÒÊÓƵ Megadeals Board.

This is a weekly feature that runs down the week’s top 10 announced funding rounds in the U.S. Check out last week’s biggest funding rounds here.

Investors seemed to be still hungover from the long holiday weekend, as big rounds rolled in slow for the week. Only three topped $100 million. However, the week did see a massive $1 billion raise for — what else? — an AI company.

1. , $1B, artificial intelligence: AI research lab Safe Superintelligence raised $1 billion from a litany of big-name investors including and . The round valued the company at $5 billion, per , which first reported the round. SSI, co-founded by ‘s former chief scientist , is looking to develop safe artificial intelligence systems — something that has been in the news a lot recently as fears increase of AI tech being harmful to humans and society. A proposed California bill that has proven controversial in the industry is looking to put safety regulations and guardrails on AI — although many companies, including OpenAI, worry it may be too burdensome to many AI firms. The 3-month-old startup will look to add computing power and hire new talent.

2. , $325M, biotech: The big biotech raise of the week went to South San Francisco-based Arsenal Biosciences. The startup, a cell therapy company focused on engineering T-cell therapies for solid tumors, locked up a $325 million Series C from several investors, including new investors and funds and accounts advised by . The company’s pipeline includes potential therapies for ovarian, kidney and prostate cancers, as well as other solid tumors. Founded in 2019, the company has raised nearly $631 million, .

3. , $191M, biotech: Cambridge, Massachusetts-based eGenesis, a biotech firm developing human-compatible engineered organs, closed a $191 million Series D led by . In March, eGenesis the world’s first successful transplant of a genetically engineered pig kidney to a human. The new cash will be used to advance a pipeline of programs. Founded in 2014, the company has raised $456 million, .

4. , $90M, biotech: South San Francisco-based Circle Pharma, a biotech company developing cell-permeable macrocycles for therapies, closed a $90 million Series D — which includes the conversion of a convertible note — led by . Founded in 2012, the company has raised nearly $208 million, .

5. , $87M, battery: Battery products and manufacturing startup 24M closed an $87 million Series H preferred stock financing led by that values the company at $1.3 billion post-money. The Cambridge, Massachusetts-based company develops energy storage products and technology that looks to cut costs and improve performance safety and recyclability. Founded in 2010, 24M has raised more than $500 million, per the company.

6. , $67M, biotech: Menlo Park, California-based company OrsoBio, a biotech firm developing treatments for obesity and obesity-associated disorders, closed a $67 million Series B financing co-led by new investors and . Founded in 2021, the company has raised $129 million, .

7. , $60M, productivity tools: San Francisco-based Cortex Applications, an internal portal for software developers, raised a $60 million round led by that values the company at $470 million, . Founded in 2019, the company has raised nearly $113 million, .

8. , $59M, human resources: San Francisco–based Oyster, a human resource platform, closed a $59 million Series D led by that values the company at $1.2 billion. Founded in 2020, Oyster says it has raised $286 million.

9. , $57M, developer tools: Arkansas City, Arkansas-based Laravel, a web application framework that is used for web application development, raised a $57 million Series A led by . Founded in 2011, this is the company’s first disclosed round, .

10. , $45M, biotech: South San Francisco-based Sonoma BioTherapeutics, a biotech firm developing therapies for autoimmune and inflammatory diseases, received a $45 million milestone payment from . Founded in 2020, the company has raised $410 million, .

Big global deals

The biggest deal outside the U.S. came from Japan and involved AI.

• locked up a $100 million round led by , and . The round also included an investment from — which has been intensely active in the AI space investing in startups. Sakana is looking to train low-cost generative AI models with small datasets — a very different approach from . The company previously raised a $30 million round in January led by Lux Capital.

Methodology

We tracked the largest announced rounds in the ºìÌÒÊÓƵ database that were raised by U.S.-based companies for the seven-day period of Aug. 31 to Sept. 6. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.

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