In 2024, the artificial intelligence industry reached historic heights, with 49 companies in the U.S. raising funding rounds of $100 million or more. Among these firms, three secured multiple substantial investments, and seven attracted funding rounds of $1 billion or larger.
Early signs indicate that 2025 is set to continue this upward trajectory. Several billion-dollar deals have already emerged, and the first quarter of this year saw more AI-related mega rounds completed than during the same period in 2024. Here are the U.S. AI startups that have closed deals worth $100 million or higher thus far in 2025:
April
SandboxAQ secured a $450 million Series E investment on April 4, driving its valuation to $5.7 billion. Investors included Nvidia, Google, and Bridgewater Associates’ founder Ray Dalio.
Runway raised $308 million in a Series D round on April 3, reaching a valuation of $3 billion. General Atlantic led this deal, with additional support from SoftBank, Nvidia, and Fidelity.
March
OpenAI finalized an extraordinary $40 billion deal on March 31, marking one of the largest private AI rounds to date, and soaring to a $300 billion valuation. SoftBank led this round with participation from Thrive Capital, Microsoft, and Coatue, among others.
Nexthop AI, an infrastructure-focused company, raised a $110 million Series A round on March 25, led by Lightspeed Venture Partners and joined by Kleiner Perkins, Battery Ventures, and Emergent Ventures.
Insilico Medicine gathered $110 million for its generative AI-driven drug discovery platform as of March 13. Value Partners and Pudong Chuangtou co-led the Series E financing, valuing Insilico at $1 billion.
Celestial AI, another AI infrastructure entity, secured $250 million in its Series C round on March 11, with a valuation of $2.5 billion. Fidelity led the investment, accompanied by Tiger Global, BlackRock, and Intel CEO Lip Bu-Tan.
Lila Sciences, a startup dedicated to building a scientific superintelligence platform, raised a notable $200 million seed round. Led by Flagship Pioneering, the round also saw participation from March Capital, General Catalyst, and ARK Venture Fund.
Reflection.Ai, focused on advanced autonomous systems, earned a $130 million Series A round led by Lightspeed and CRV, valuing the startup at $580 million.
Turing, which collaborates with leading LLM firms, received $111 million in Series E financing on March 7, boosting its valuation to $2.2 billion. Khazanah Nasional led the round, with involvement from WestBridge Capital, Gaingels, and Sozo Ventures.
Shield AI, an AI-driven defense technology firm, closed a $240 million Series F round on March 6, achieving a valuation of $5.3 billion. This investment was co-led by L3Harris Technologies and Hanwha Aerospace, alongside Andreessen Horowitz and the US Innovative Technology Fund.
Anthropic, an LLM-centric research startup, announced a massive $3.5 billion Series E funding on March 3, taking its valuation to $61.5 billion. The round was spearheaded by Lightspeed, with participation from Salesforce Ventures, Menlo Ventures, and General Catalyst.
February
Together AI, producer of open-source generative AI tools and development infrastructure, garnered $305 million in Series B financing on February 20, reaching a valuation of $3.3 billion. Prosperity7 and General Catalyst co-led the round, joined by Salesforce Ventures, Nvidia, and Lux Capital.
Lambda, an AI infrastructure provider, closed a substantial $480 million Series D round on February 19 at a nearly $2.5 billion valuation, led by SGW and Andra Capital with further backing from Nvidia, G Squared, and ARK Invest.
Abridge, known for transcribing healthcare interactions between patients and clinicians, raised $250 million in a Series D round co-led by IVP and Elad Gil, valuing the startup at $2.75 billion on February 17. Lightspeed, Redpoint, and Spark Capital also participated.
Eudia, operating in AI-powered legal technology, obtained $105 million in Series A funding led by General Catalyst on February 13, with contributions from Floodgate, Defy Ventures, Everywhere Ventures, and several angel investors.
EnCharge AI, a firm focused on AI hardware acceleration via analog chip technology, raised $100 million in Series B funding. The Santa Clara-based startup, founded in 2022, saw Tiger Global lead the round on February 13, alongside Scout Ventures, Samsung Ventures, and RTX Ventures.
Harvey, another AI legal tech startup, drew $300 million in Series D funding on February 12, achieving a valuation of $3 billion. Sequoia spearheaded the round, with notable investors like OpenAI Startup Fund, Kleiner Perkins, and Elad Gil participating.
January
ElevenLabs, which specializes in synthetic voice technologies, closed a $180 million Series C financing round on January 30, exceeding $3 billion in valuation. ICONIQ Growth and Andreessen Horowitz co-led this round, with further involvement from Sequoia, NEA, and Salesforce Ventures.
Hippocratic AI, known for developing large language models specifically targeting healthcare communication and tasks, announced a $141 million Series B funding round on January 9. Kleiner Perkins led the round, which valued the startup at more than $1.6 billion, supported by Andreessen Horowitz, Nvidia, and General Catalyst.
The rapid pace and magnitude of these investments underscore sustained investor appetite for artificial intelligence ventures, positioning 2025 as another landmark year for the AI startup ecosystem.
