Weekly funding picks, 12–18 October: Modal and Neonomics
Two picks from 12–18 October: Modal’s $750m Series D for AI infrastructure and Neonomics’ $4m shareholder funding after a commercial refocus.
Modal raised capital as demand for its AI infrastructure expanded. Neonomics returned to existing shareholders after cutting its cost base and increasing new-customer acquisition. These two picks concern distinct operating milestones.
Modal announced a $750 million Series D led by Accel at a $15.75 billion post-money valuation. It provides infrastructure for AI inference, training and code-execution environments.
The company reported more than $1 billion in annualized run rate, including a $300 million run rate for Sandboxes, which gives AI agents isolated environments to execute code. These figures describe an annualized pace; they do not establish contracted recurring revenue or revenue already earned over a full year.
Modal financing15 October · Neonomics secures $4m from existing shareholders
Neonomics secured $4 million to support growth in payments and financial data. The Norwegian open-finance company said a strategic refocus had reduced its operating cost base by almost half while preserving its existing customer base.
The release reported more than 60% growth in new customer acquisition since the start of 2026. This concerns attracting new customers, rather than a disclosed 60% increase in the entire customer base. The company plans to expand services that structure, enrich and interpret financial data for business products and workflows.
Neonomics financingThe financing records
About these picks
Two selected published deals announced from 12 through 18 October 2026, based on the linked company releases. Operating figures are attributed to the companies. These picks do not represent the full week or establish a funding trend.
Sources
All rounds in this edition
| Company | Amount | Round | Sector · country | Investors | Date |
|---|---|---|---|---|---|
| IPX Exchange IPX Exchange builds tools for creators to finance and distribute intellectual property. | $4M | Seed | Media & gaming · United States | Bitsurge Holdings (lead), YICIPX Holdings Family Office (lead) | |
| Otter Health Clinical intelligence software helping healthcare payers and providers assess care decisions against evidence and guidelines. | $8M | Seed | Healthtech · United States | Slow Ventures, Metrodora, Layout Ventures, Fika Ventures (lead), CoFound Partners, Semper Virens, Evidenced (lead), Patient Capital | |
| Homa Homa combines an AI homebuying platform with licensed brokerage services in the United States. | $5M | Seed | Proptech · United States | Quiet Capital (lead), Restive Ventures, Cambrian Ventures | |
| HomeTruth HomeTruth helps homeowners organise property information and manage maintenance, costs and protection. | Undisclosed | Equity stake acquisition | Proptech · United Kingdom | Graham Martin | |
| U-MAP U-MAP develops thermal-management materials based on aluminium nitride crystals. | Undisclosed | Strategic investment | Industrial tech · Japan | Tanaka Seimitsu Kogyo | |
| Connexin UK connectivity and smart infrastructure provider serving utilities, businesses and public bodies. | ≤£35M | Smart water financing facilities | Industrial tech · United Kingdom | Santander UK, PATRIZIA | |
| Yiqi Shiguang Yiqi Shiguang develops digital cognitive-training and interactive experiences for adults and older users. | Undisclosed | Undisclosed | Consumer · China | 新东方（珠海）文旅投资有限公司 | |
| Opsin Opsin helps enterprises discover AI agents, assess their permissions and contain risky behaviour. | $21M | Funding round | Cybersecurity · United States | SYN Ventures (lead), Race Capital (lead) | |
| Solvera Solvera delivers building engineering designs for contractors and developers using AI systems supervised by experienced engineers. | $6.3M | Pre-seed | Proptech · Norway | Daniel Kjørberg Siraj, OBOS Ventures, Anders Kvåle, Sondo, PSV Tech, Håvard Haukeland, Seedcamp (lead), Inception Fund, The Nordic Web Ventures, Construct Venture, Momentum | |
| Constrik AI estimating platform helping construction firms review project documents, costs and bid risks. | €350K | Pre-seed | Enterprise software · Spain | Plus Partners (lead) | |
| GasLab GasLab is developing a generative music platform that links AI-created tracks to participating artists and rights holders so they can share in the revenue. | ~$1M | Pre-seed | Media & gaming · Netherlands | Eric Demuth, Bas Beerens | |
| Holo Holo helps small businesses plan marketing campaigns, create content and publish it across connected channels. | €5M | Seed | Enterprise software · Lithuania | FIRSTPICK, Tekton Ventures, Market One Capital (lead), Leonis Capital, Silicon Gardens, NGL.VC | |
| Dougs A French accounting firm combining its own software with accounting, tax and legal services for small businesses. | €50M | Growth investment | Business services · France | Expedition Growth Capital (lead) | |
| OMass Therapeutics OMass Therapeutics develops small-molecule medicines for endocrine and immune diseases using a platform that measures drug targets in their biological surroundings. | $310M | Series C | Biotech · United Kingdom | Oxford Science Enterprises, SV Health Investors, GV, Northpond Ventures, University of Oxford, Bain Capital Life Sciences (lead), Novo Holdings (lead), Forbion (lead), British Business Bank, Jefferson Life Sciences, Janus Henderson Investors, Sanofi Ventures, Syncona | |
| North.cloud Cloud spending software that helps engineering and finance teams allocate costs and automate infrastructure savings. | $60M | Series B | Enterprise software · United States | PeakSpan Capital (lead), Mana, Companyon Ventures, Litquidity Ventures, Gaingels, Alpaca VC, Uncommon Denominator | |
| Intero Biosystems Human intestinal organoids for preclinical research and testing. | $100K | Startup Battlefield award | Biotech · United States | TechCrunch | |
| Zippy Digital lending and loan servicing for manufactured homes. | $20M | Series C | Fintech · United States | Saluda Grade (lead) | |
| PLACED AI sales and labour-market data platform helping recruitment agencies find employers for their candidates. | ~€1.8M | First institutional pre-seed financing | Enterprise software · Germany | Angel Invest, True Growth, Business Angel Club by Board Academy, Brandenburg Kapital, Superangels, Ventic Ventures, WorkTech Angels | |
| AZOO AZOO develops WASIMIL, an integrated operating platform for hotels and Japanese inns. | Undisclosed | Series A | Travel tech · Japan | Kyoshin Social Capital Co, DNX Capital, ALL STAR SAAS FUND, Mobile Internet Capital, Inc. (lead) | |
| Harmonic Security Harmonic Security helps enterprise security teams understand employee AI use and prevent sensitive information from being shared. | $50M | Series B | Cybersecurity · United States | Crosspoint Capital Partners (lead) | |
| Stride Diagnostics-led health memberships combining tests and professional support. | £4.6M | Seed funding package | Healthtech · United Kingdom | Araya Ventures, better ventures, Innovate UK, Morgan Stanley Inclusive & Sustainable Ventures | |
| OlsAro Climate-resilient cereal genetics for commercial seed programs. | €5M | Seed | Agritech · Sweden | PINC, Industrifonden (lead), GU Ventures, AgFunder, Future Food Fund, Nordic Foodtech VC (lead) | |
| Confido Health Confido Health automates patient access and administrative workflows for medical and dental practices. | $12.5M | Series A extension | Healthtech · United States | Blume Ventures, Justin Saks, Z47 (lead), Together Fund | |
| Marklo Marklo helps Shopify brands plan, measure and produce marketing campaigns using their sales, inventory and channel data. | $5M | Seed | AI · United States | Freestyle Capital, Forerunner Ventures (lead) | |
| Modal Labs Optimizes AI inference to reduce compute costs and response time | $750M | Series D | AI · United States | Amplify Partners, Redpoint Ventures, Kleiner Perkins, Menlo Ventures, Lux Capital, Accel (lead), General Catalyst, Bain Capital Ventures | |
| OXG Space OXG Space develops orbital connectivity and edge-computing infrastructure. | ₹170M | Undisclosed | Space tech · India | Pawan Kumar Chandana, Aum Ventures India Innovation Fund II (lead), Bharath Daka, Chiran Phanindra | |
| Molagri Molagri develops targeted crop-protection products for growers facing pesticide resistance. | Undisclosed | Seed | Agritech · Canada | Superorganism, Robinhood Ventures, Convective Capital (lead), Paul Graham, Y Combinator (YC) | |
| Imersa Imersa provides an AI sales copilot that combines live conversation guidance with simulated sales training. | R$150K | First financing, initial tranche | Enterprise software · Brazil | Flávio Szenkier | |
| Foundry Foundry develops premium home appliances, starting with a kitchen range built around its own technology and product engineering. | ₹120M | Pre-seed | Consumer · India | BEENEXT (lead), Anindita Sampath, Kettleborough VC (lead), Anita Pramoda, Rishubh Satiya | |
| KP Labs Onboard computing, software and AI for satellite data processing. | PLN 19.4M | Growth equity investment | Space tech · Poland | Momentum Capital Partners (lead) |