Despite an industry-wide dip in venture funding, Seattle tech companies raised new funds in August. Together, the five largest rounds last month totaled a collective $860.3 million. A Bill Gates-founded company topped the funding chart and most of the largest venture capital rounds went to companies focused on energy and healthtech. Read on to find out which tech startups raised funds last month and how they plan to spend their new capital.
#5. $12 million, August 9
Blockchain startup RISC Zero raised $12 million in August in a round led by Bain Capital Crypto. RISC Zero is developing an open-source blockchain transaction verification system that reveals no information about users. With the new money, the company will look to release a developer preview of its verification system.
#4. $23.3 million, August 26
Avalanche Energy is an energy startup developing small power packs that creates carbon-free energy from particle collisions, according to Seattle Inno. Last month the company raised $23.3 million in funding. Avalanche is led by a former Blue Origin employee.
#3. $25 million, August 15
Companies developing health sensors have increased in popularity recently and Monod Bio is capitalizing on the trend. It raised a $25 million seed round in August. Monod Bio’s sensors emit a bioluminescent signal that can detect viruses and toxins in the body. The company was founded in 2021 and plans to double in size in the coming months.
#2. $50 million, August 29
Vilya is on a mission to develop new medicines and recently launched with $50 million in funding from a Series A raise. The company is leveraging machine learning and chemical research to create novo molecular structures that are tiny enough to move through membranes and stop protein activity caused by diseases. The round was led by ARCH Venture Partners.
#1. $750 million, August 15
TerraPower was founded by Bill Gates in 2006. In August, the company raised a massive $750 million from SK Group, a South Korean energy provider, and Gates himself. TerraPower is a nuclear energy company. It has also expanded to develop methods to treat cancer with nuclear science.
