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 |
|---|---|---|---|---|---|
| Salience Labs Salience Labs develops silicon photonic switches for datacenter operators connecting large AI computing clusters. | $125M | Series B | Hardware · United Kingdom | Oxford Science Enterprises, Intel Capital, AMD Ventures, Applied Ventures LLC, Hudson River Trading, Bullhound Capital (lead), British Business Bank, Cambridge Innovation Capital, Silicon Catalyst Ventures, SBI Group | |
| Scimplify Scimplify develops and manufactures specialty chemicals and advanced materials for industrial customers. | $25M | Series C | Industrial tech · India | Bertelsmann India Investments, 3one4 Capital, Hitachi Ventures (lead), Omnivore, Accel, Henkel, Teknor Apex | |
| Bisedge Logistics & Infrastructure Provides outsourced electric material handling fleets on a Zero CapEx model across Sub-Saharan Africa | €10M | Senior debt | Mobility · South Africa | Finnfund | |
| N.D.Promotion N.D.Promotion manages actors, models and influencers and develops advertising and entertainment content. | Undisclosed | Strategic investment | Media & gaming · Japan | ASOBISYSTEM | |
| Skeleton Technologies Skeleton Technologies builds high-power energy storage systems that help data-center operators manage rapid changes in GPU electricity demand. | >$100M | Strategic investment | Hardware · Estonia | Siemens (lead) | |
| ACIMUS ACIMUS lets users create and edit building information models through natural-language instructions. | ~¥65M | Seed | Proptech · Japan | Incubate Fund, Inc., Link Capital Fund I (lead), JR East Startup | |
| Fragment Ledger, payment and reconciliation infrastructure for software and AI agents. | $12M | Series A | Fintech · United States | FirstMark (lead), BoxGroup | |
| Rabot Energy Rabot Energy supplies dynamic electricity tariffs and home energy controls that help German households shift consumption to cheaper hours. | $50M | Series B | Climate tech · Germany | vent.io, Bosch Ventures, High-Tech Gründerfonds, Acurio Ventures, CNI, HV Capital, Endeit Capital (lead), DeepTech & Climate Fonds (DTCF) | |
| Causa Prima AI agents that coordinate invoices, payment terms and cash management between companies. | $20M | Seed | Fintech · Spain | Borusan Ventures, Creandum, Kfund, Base10 Partners (lead), FJ Labs, QED Investors | |
| Ubitium Reconfigurable processors for sensing, AI inference and machine control. | $14M | Seed | Hardware · Germany | KBC Focus Fund NV, Inflection, OpenOcean, Florian Seibel, Ibex Investors (lead), Runa Capital | |
| Wavo Inventory ownership financing that releases cash for businesses. | €10M | Equity financing | Fintech · France | Eurazeo (lead), HUB612, Axeleo Capital | |
| SmallClaims Legal software company using supervised AI agents to make smaller debt recovery cases economical. | €2M | Seed | Enterprise software · Denmark | Vendep Capital (lead) | |
| CarbonFarm CarbonFarm helps rice producers and project developers measure emissions reductions and finance changes in farming practices. | €7M | Series A | Climate tech · France | Bpifrance, elea, Proparco, Albo, Working Capital Fund, Colam Impact (lead), Racine2, SC Climate Tech Ventures I, Techmind | |
| Pluto Security Enterprise security software that monitors AI tools, agents and the applications employees build. | $8.5M | Seed disclosed with emergence from stealth | Cybersecurity · Undisclosed | TLV Partners (lead) | |
| Startup Investments (Holding) Limited An Info Edge subsidiary allocating capital to investment opportunities, including alternative investment funds. | ~₹250M | Parent equity subscription | Fintech · India | Info Edge (India) Limited | |
| Soufflé Therapeutics Soufflé Therapeutics develops targeted RNA medicines for patients with muscle disorders and heart failure. | $135M | Series B | Biotech · United States | Temasek, Polaris Partners, TAS Partners, Amgen Ventures, Vida Ventures, Bessemer Venture Partners, Balyasny Asset Management, TCG Crossover, BB Biotech, ARCH Venture Partners, Leaps by Bayer, Juvia Group (lead), Breyer Capital, Fidelity Management & Research Company, Janus Henderson Investors, Invus, Safar Partners | |
| Giraffe Bio Giraffe Bio develops biochemical reagents for mineral recovery. | $6.4M | Seed | Biotech · Argentina | Twynam, Air Capital, Baruch Future Ventures, Orion Industrial Ventures (lead), BHP Ventures | |
| MakeO MakeO provides dental, skin and hair treatments through consumer brands, clinical centres and partner dentists. | ₹900M | Undisclosed | Healthtech · India | Unispace Ventures, Singularity AMC (lead), DSP Family Office, Genesis Alternative Ventures | |
| NuSynth Technologies NuSynth Technologies develops chemical manufacturing processes for pharmaceutical intermediates and specialty chemicals. | ₹365M | Seed | Industrial tech · India | Avaana Capital (lead), Shastra VC (lead) | |
| Allara Virtual care for women with hormonal, metabolic and reproductive health needs. | $30M | Funding | Healthtech · United States | The Family Fund, GV, Camino Partners, Foreground Capital, Index Ventures | |
| Suki Suki develops AI software that helps clinicians document visits and healthcare technology vendors embed clinical assistance in their products. | $90M | Series E | Healthtech · United States | Hedosophia, Healthier Capital, Zoom Ventures, Flare Capital Partners, Venrock, Crosslink Capital, Philips Ventures, Hercules Capital | |
| Mesa School of Business Mesa School of Business runs residential entrepreneurship and business programmes built around startup projects. | ₹1.1B | Series A and venture debt | Edtech · India | Dharana Capital (lead), Alteria Capital, Elevation Capital (lead), InnoVen Capital | |
| ParkMundo Airport parking marketplace and distribution platform connecting travellers, parking operators and travel brands. | €2.3M | Seed funding | Travel tech · Netherlands | Rabobank | |
| Cambridge Heavy Industries Cambridge Heavy Industries develops compact laser-driven fusion systems for isotope production and, ultimately, electricity generation. | $6.2M | Seed | Climate tech · United States | Massachusetts Clean Energy Center, Azolla Ventures (lead), P3A Ventures, Overlay Capital, Neta Foundation | |
| Prima Mente Prima Mente combines biological data generation and AI foundation models to develop research and clinical applications. | Undisclosed | Planned strategic investment | AI · United Kingdom | NVIDIA | |
| Bower School of Entrepreneurship Bower School of Entrepreneurship provides practical business education for students, working professionals and founders. | ₹268M | Pre-Series A | Edtech · India | Ravi Reddy, Bharath Maguluri | |
| Quick Quick develops AI tools that help emergency dispatchers handle Japan’s 119 calls. | Undisclosed | Capital and business alliance agreement | Healthtech · Japan | Nihon Keiei Co., Ltd. | |
| 01GROWTH 01GROWTH helps businesses design go-to-market strategies and implement marketing, sales and AI operations. | Undisclosed | Strategic investment agreement | Enterprise software · Japan | Bridge International Group | |
| LearnUpon LearnUpon provides learning software for employee, customer and member training. | ≤$50M | Growth debt facility | Edtech · Ireland | Claret Capital Partners (lead) | |
| Undecimal Bio Undecimal Bio develops delivery molecules that help RNA medicines reach specific tissues, with initial research programmes in kidney and vascular disease. | $18M | Seed | Biotech · United Kingdom | Entrée Capital, Kerna Ventures, IQ Capital (lead), 4BIO Capital (lead), Verve Ventures, Harel Tech, Saras Capital |