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 |
|---|---|---|---|---|---|
| RocketPay RocketPay provides automated collections infrastructure for lenders and businesses. | ₹100M | Undisclosed | Fintech · India | Launch Capital, LetsVenture, Navyug Global Ventures, All In Capital, Sandeep Jain (lead), AVNM Ventures, Inflection Point Ventures | |
| Tivano Carbon removal developer storing unwanted woody biomass underground while restoring Namibian savanna. | CHF 500K | REPIC rollout grant | Climate tech · Switzerland | REPIC | |
| CodeWall Autonomous adversarial testing for enterprise security teams. | $4M | Pre-seed | Cybersecurity · United Kingdom | InReach Ventures, Osney Capital (lead), Antler | |
| Ambio Ambio supplies verified recycled plastics to industrial manufacturers, handling material selection, quality assurance and delivery. | €5.1M | Seed | Climate tech · Finland | Lifeline Ventures, Montis VC, b2venture (lead) | |
| Circle Circle helps people buy and sell pre-owned goods through a managed marketplace that handles verification, pickup and payments. | ₹250M | Seed | Ecommerce · India | Ajith Pai, Raveen Sastry, Nexus Venture Partners (lead), Titan Capital | |
| Coding Giants Coding Giants teaches programming, AI and digital skills to children and teenagers. | ≤€6M | Venture debt facility | Edtech · Poland | Orbit Capital | |
| Round Group Technology-enabled digital campaigns for music, entertainment and consumer brands. | £4M | Growth investment | Business services · United Kingdom | Foresight Group (lead) | |
| Zetwerk Manufacturing Businesses Limited Zetwerk connects customers with manufacturing capacity and manages production across industrial supply chains. | Undisclosed | Anchor share allocation within IPO | Industrial tech · India | ||
| Spill Games Spill Games develops free-to-play casual and puzzle games for mobile players. | $10.5M | Series A | Media & gaming · India | Centre Court Capital, PeerCapital, Elevation Capital (lead) | |
| Rivero Payment operations software for banks managing network requirements, disputes and fraud recovery. | Undisclosed | Strategic investment | Fintech · Switzerland | EV II EuVECA | |
| Forgepoint AI software that helps manufacturers prepare quotes and manage sales administration. | $9.8M | Seed | AI · United States | a16z Speedrun (lead), Primary Venture Partners (lead) | |
| seragy Quantitative biomarkers for diseases driven by protein aggregation. | €12M | Mixed financing | Biotech · Germany | State of Lower Saxony, Mittelständische Beteiligungsgesellschaft Niedersachsen, Commerzbank | |
| Labelbox Labelbox supplies AI training environments and managed agents for model developers and enterprise teams. | >$100M | Series E | AI · United States | Tau Ventures, B Capital, Andreessen Horowitz (a16z), Wipro Ventures, Infinitum Partners (lead), Snowpoint Ventures | |
| EZ Bombs Shelf-stable seasoning blends that dissolve during cooking to make Mexican dishes. | $25M | Series A | Consumer · United States | CAVU Consumer Partners (lead) | |
| RevRag AI RevRag AI builds embedded AI agents that guide customers through financial services applications. | $2.5M | Seed | Fintech · India | Venture Catalysts, Wyser, Cedar Capital, Accion Ventures (lead) | |
| Cachet Adaptive insurance infrastructure for mobility and platform work. | Undisclosed | Equity financing | Fintech · Estonia | Icebreaker.vc, Spintop Ventures (lead), Truffle Capital | |
| Augur Augur provides video analytics that helps security teams detect threats and investigate incidents using existing cameras and sensors. | Undisclosed | Strategic investment | Defense tech · United Kingdom | UK Sovereign AI fund | |
| COCOO COCOO provides digital-workforce training and implementation support for businesses and public organizations. | Undisclosed | Strategic investment agreement | Business services · Japan | Ymirlink | |
| Zenzap Zenzap combines business messaging with shared AI agents that act on team conversations and connected business tools. | Undisclosed | Series A (incremental amount undisclosed) | Enterprise software · — | Bessemer Venture Partners, Lightspeed (lead) | |
| Shamrock AI Shamrock AI automates the testing and validation of enterprise systems and business processes. | $5M | Seed | Enterprise software · India | Capria Ventures, Endiya Partners (lead) | |
| Parallel Loop Parallel Loop combines enterprise AI software with embedded engineers to connect business systems and automate workflows. | $6.6M | Seed | Enterprise software · Singapore | Picus Capital, 3one4 Capital (lead), Economic Development Innovations Singapore, Flourish Ventures, Kunal Shah, Philip Yeo, Vijay Shekhar Sharma | |
| HydRegen Enzyme-based catalysts for industrial chemical manufacturing. | $8M | Series A first close | Biotech · United Kingdom | Genoa Ventures (lead), Headington Holdings, Clean Growth Fund, Oxonian, Rapid Innovation Group, Oxford Technology Management, Foxglove Capital, First Imagine! Ventures | |
| The Stack The Stack sells nutritional supplements directly to consumers in India, with products grouped around sleep and digestive-health routines. | ₹215M | Seed | Consumer · India | OTP Ventures (lead), Huddle Ventures (lead), Sauce (lead) | |
| Evos Evos builds AI operators that learn from experienced employees and carry out operational work inside existing business software. | $9M | Pre-seed | Enterprise software · United States | Field Ventures (lead), Sandwith Ventures, Uncork Capital (lead), Utopia Capital Management, Crosslink Capital | |
| Duvo Enterprise AI platform that maps and executes operational processes across existing systems. | $32M | Series A | AI · Czech Republic | Credo Ventures, Index Ventures, Northzone, Balderton Capital (lead) | |
| Qilimanjaro Quantum Tech Qilimanjaro Quantum Tech builds complete superconducting quantum-computing systems. | €19.6M | Series A first close | Hardware · Spain | Spanish Society for Technological Transformation (SETT), Indra Group (lead) | |
| Miracly Miracly helps marketing teams measure how their brands appear in AI answers and produce content intended to improve that visibility. | $2M | Pre-seed | Enterprise software · Sweden | Alex Bouaziz, BEENEXT (lead), Thomas Ekman, Lotus Singapore (lead), Hedda Baverud Olsson, Stefan Lindeberg, Parham Benisi | |
| Affinity Labs Affinity Labs builds and operates consumer software businesses with creators, combining their audiences and expertise with product development and ongoing operations. | $2M | Pre-seed funding including grant | Consumer · United Kingdom | Devran Amaratunga Karaca, Fuel Ventures (lead), Antler, Innovate UK, Marcello Ascani | |
| CereGate Clinical-stage neurotechnology company developing software-based therapies through existing stimulation implants. | Undisclosed | Series C | Healthtech · Germany | Impact Ventures (Hungary) | |
| Elvio Robotics Hospital automation company connecting robots, building infrastructure and clinical operations through Elvio OS. | €3M | Pre-seed | Robotics · Germany | Revent (lead), Patrick Glauner, Lucio Milanese, Julian Kley, Kai Leisering, Josef Chen, Mattia Schaper, Thomas Manfred Müller, Human Impact Capital Fund I, Calm/Storm, Alexander Kremer, Felix Huschke, Christian Albrecht, Bruno Glaus, Wilbe, Maximilian Greschke, Jan Dahnke |