The weekly Notable Startup Funding Report takes us on a journey through various ecosystems in the United States, highlighting some of the notable funding activities in the different markets we track. Notable Seed Funding Rounds for the week ending 01/10/25 feature funding details from LMArena, Rain, Biller Genie and eleven other deals representing $20.9 billion in new funding you need to know about.
Cambium – $100.0 million
El Segundo-based Cambium specializes in advanced materials for defense and aerospace, focusing on AI-driven designs and agile manufacturing practices. Founded by Simon Waddington and Stephan Herrera in 2019, Cambium has now raised a total of $127.0 million in equity funding and is backed by 8VC, Alumni Ventures, Gaingels, GSBackers, Inevitable Ventures, J17 Ventures, Jackson Moses, JACS Capital, Lockheed Martin Ventures, MVP Ventures, SignalRank, Vanderbilt University and Veteran Ventures Capital.
Matrix Labs – $20.0 million
Array Labs, based in Palo Alto, designs and operates space-based radar systems and provides 3D earth imaging and geospatial data services. Founded by Andrew Peterson and Isaac Robledo in 2019, Matrix Laboratories has now raised a total of $25.6 million in equity funding and is backed by Aera VC, Animal Capital, Catapult, Clearance Venture Partners, Cultivation Capital, KOMPAS VC, Maiora Ventures, Multimodal Ventures, Washington Harbor Partners and Y Combinator.
Pic Lassen – $10.0 million
Bellevue-based Lassen Peak develops technology that transforms dangerous weapons detection procedures into safe, effective and dignified experiences. Founded by Ehsan Afshari and Hatch Graham in 2019, Pic Lassen has now raised a total of $42.0 million in equity funding and is backed by AI Capital Partners, Axon, Lauder Partners, Lioncrest, Madrona and Octave Ventures LLC.
Pomelo Care – $92.0 million
Pomelo Care, based in New York, is a health technology company that develops evidence-based healthcare solutions for women and children. Founded by Marta Bralic in 2021, Pomelo care has now raised a total of $179.0 million in equity and is backed by Andreessen Horowitz, Atomico, BoxGroup, Plus Capital, Stripes and SV Angel.
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LMArena – $150.0 million
LMArena, based in San Francisco, is a web-based platform that evaluates large language models (LLMs) through anonymous, crowdsourced pairwise comparisons. Founded by Anastasios Angelopoulos, Ion Stoica and Wei-Lin Chiang in 2025, LMArena has now raised a total of $250.0 million in equity funding and is backed by Andreessen Horowitz, Felicis, Kleiner Perkins, Laude Ventures, LDV Partners, Lightspeed Venture Partners, The House Fund and UC Investments.
Semafor – $63.6 million
Semafor, based in New York, is a news and media company that delivers widely covered news content around the world. Founded by Ben Smith and Justin B. Smith in 2022, Semafor has now raised a total of $107.6 million in equity and is backed by Antenna Group, David Rubenstein, Henry Kravis, PSP Capital Partners and Thomas Leysen.
xAI – $20.0 billion
Burlingame-based XAI is an artificial intelligence startup that develops AI solutions and tools to improve reasoning and research capabilities. Founded by Christian Szegedy, Elon Musk, Greg Yang, Igor Babuschkin, Kyle Kosic, Manuel Kroiss, Toby Pohlen and Yuhuai Wu in 2023, xAI has now raised a total of $37.7 billion in equity and is backed by Baron Capital, Cisco Investments, Fidelity, MGX, NVIDIA, Qatar Investment Authority, StepStone Group and Valor Equity Partners.
Rain – $250.0 million
Rain, based in New York, is a stablecoin infrastructure platform offering global wallets and transfers through a unified API for businesses and neobanks. Founded by Charles Yoo-Naut and Farooq Malik in 2021, Rain has now raised a total of $332.5 million in equity funding and is backed by Bessemer Venture Partners, Dragonfly, Endeavor Catalyst, FirstMark, Galaxy Ventures, ICONIQ Capital, Lightspeed Venture Partners, Norwest and Sapphire Ventures.
Autonomous Technologies Group – $15.0 million
Autonomous, based in New York, is an AI-powered financial technology company that helps users manage their investments and financial decisions independently. Founded by Dillon Erb in 2025, Autonomous Technologies Group has now raised a total of $15.0 million in equity and is backed by BoxGroup, Collaborative Fund, Fusion Fund and Y Combinator.
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Apella Technology – $80.0 million
Oakland-based Apella Technology is an AI startup that brings modern engineering to improve surgery. Founded by Cameron Marlow and David Schummers in 2019, Apella Technology has now raised a total of $104.0 million in equity funding and is backed by Casdin Capital, HighlandX, Houston Methodist Hospital, K2 HealthVentures, OpAmp Capital, Operator Partners, PFM Health Sciences, Upside Partnership and Vensana Capital.
Blackbird.AI – $28.0 million
Rochester-based Blackbird.AI develops storytelling and risk intelligence tools to detect emerging dangers and anticipate actual harm. Founded by Naushad UzZaman and Wasim Khaled in 2017, Blackbird.AI has now raised a total of $58.6 million in equity and is backed by Christopher Young, David DeWalt, Dorilton Ventures and Ten Eleven Ventures.
Presto – $10.0 million
Presto, based in Redwood City, is a software company that provides AI and automation solutions to the restaurant industry. Founded by Michael Chorey and Rajat Suri in 2008, Presto has now raised a total of $182.6 million in equity and is backed by Link Ventures, Metropolitan Partners and REMUS Capital.
GS Microelectronics – $35.0 million
GS Microelectronics, based in San Jose, provides manufacturing services for custom semiconductor solutions, including chip design, engineering and power integrated circuits. Founded by Farhat Jahangir in 2021, GS Microelectronics has now raised a total of $53.0 million in equity and is backed by Maverick Silicon.
Biller Genie – $22.0 million
Biller Genie, based in Miami, automates accounts receivable processes by managing invoice delivery, reminders, payment collection and reconciliation. Founded by Thomas Aronica in 2018, Billing Genius has now raised a total of $33.5 million in equity and is backed by Radian Capital.
AlleyWatch’s audience drives global progress and innovation. There are a number of options for reaching this audience of the world’s most innovative organizations and startups at scale, including strategic brand placement, lead generation and thought leadership in front of an audience comprised of the vast majority of key decision-makers in the New York business community and beyond. Learn more about advertising at NYC Tech, on a large scale.