Arena
Arena evaluates AI models through comparisons and observations of how people use them in real tasks.
$200MSeries B
ParticipantF
Felicis
felicis.com ↗Activity from announced rounds
Activity in this selectionOct 16, 2026 · Jul 19, 2026
An early-stage venture firm with recorded investments spanning AI evaluation, industrial software and defense technology.
Investment approach
Felicis backs technology founders, with a strong emphasis on early investment. The firm reports that 94% of its investments are at seed or Series A. Its support can continue as companies grow: it describes leading Arena’s Series A after investing in the seed round.
Companies represented in RoundOS
The recorded funding announcements include Arena, which uses human comparisons to evaluate AI models; Magentic, which builds software for work in physical industries; and Smack Technologies, which develops AI for national security. Felicis discusses all three in its own investment materials. The round history below covers the announcements captured by RoundOS; Felicis maintains its broader company portfolio on its own website.
Sources
- Rounds participated in
- 6
- Confirmed lead rounds
- 2 2 roles undisclosed
- New companies
- 4 First participation on record · 2 follow-on
- Funding in participating rounds
- $436M 6 disclosed · full round size, not this investor’s share
By stage
By primary sector
By country
Rounds
6 in this selectionSolcoa Industries
Solcoa Industries produces rare-earth metals using halide-free chemistry and modular reactors designed and operated in-house.
$75MSeed financing; equity, debt, and equipment financing
ParticipantMagentic
Magentic builds AI agents that automate procurement and supplier workflows for global manufacturers.
$18MSeries A
LeadSmack Technologies
Frontier AI lab building domain-specific decision-making models for the military
$61MSeries B
Role not disclosedSleuth
Sleuth gives software teams data and workflows to measure engineering efficiency and improve how reliably they deliver software.
$22MSeries A
LeadHeaviside Industries
Builds autonomous precision munitions platforms for air, land, and sea forces
$60MSeries B
Role not disclosed