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 |
|---|---|---|---|---|---|
| ThinkMetal ThinkMetal develops materials and manufacturing systems for precision metal components. | ₹270M | Undisclosed | Industrial tech · India | 3i Partners, IAN Alpha Fund (lead) | |
| Pluto Security Enterprise security software that monitors AI tools, agents and the applications employees build. | ~$33M | Series A | Cybersecurity · Undisclosed | Jump Capital (lead), Ansa Capital, Skinos Ventures | |
| Epyr Thermal energy storage for industrial heat. | €15M | Series A | Climate tech · France | Aurum Impact, WEPA Ventures, OVNI Capital, SlateVC (lead), AENU, Daphni | |
| Alchera Technologies Transport data and forecasting for highways operators and local authorities. | £2.7M | Seed investment and match funding | Mobility · United Kingdom | Innovate UK Investor Partnerships Programme, The FSE Group, South West Investment Fund (lead), Bayes Entrepreneurship Fund, Cambridge Applied Research | |
| JustAd JustAd combines advertising campaign management, AI analysis and pay-later financing for media spending. | $5M | Investment round | Enterprise software · United Arab Emirates | Imad Jomaa | |
| Doctolib Healthcare software for appointments, practice administration and clinical documentation, with patient-facing access to care. | Undisclosed | Planned minority investment | Healthtech · France | NVIDIA | |
| Startup Internet Services Limited An Info Edge subsidiary allocating capital to investment opportunities, including alternative investment funds. | ₹200M | Parent equity subscription | Fintech · India | Info Edge (India) Limited | |
| Solarise Africa Solarise Africa finances and operates decentralised energy systems for businesses. | €1M | EEP Africa grant | Climate tech · Mauritius | EEP Africa | |
| Ruit Multichannel resale software helping second-hand sellers manage listings and stock from one inventory. | €880K | Pre-seed | Ecommerce · Spain | Angels Capital, Successful Fund, Decelera Ventures, Spanish National Innovation Company (ENISA), ABAC Nest Ventures (lead) | |
| GreenCell Mobility GreenCell Mobility operates electric bus services in India. | ₹3.3B | Equity investment | Mobility · India | Impact Fund Denmark | |
| Scanntech Scanntech turns point-of-sale transactions into retail intelligence for consumer brands, retailers and distributors. | Undisclosed | Series F (announced) | Enterprise software · Uruguay | Partners Group (lead), L Catterton (lead), SPX Capital, Bradesco | |
| Funding Souq Funding Souq connects small businesses with Shariah-compliant financing and provides infrastructure for embedded lending. | Undisclosed | Strategic minority investment | Fintech · Saudi Arabia | Foodics | |
| esa esa converts difficult-to-separate composite plastic waste into recycled materials for manufacturers. | Undisclosed | Undisclosed | Climate tech · Japan | Mitsubishi UFJ Trust and Banking, SG Wonder zone, Environmental Energy Investment, Mitsubishi UFJ Capital Co | |
| Obsero Obsero helps marketing teams measure and improve how their brands appear in AI-generated answers through software and specialist consultancy. | $1.2M | Seed | Enterprise software · United Kingdom | SFC Capital (lead) | |
| Boltz Boltz builds biomolecular AI models and software for molecular design and drug-discovery research. | Undisclosed | Planned strategic investment | Biotech · United States | NVIDIA | |
| Genesis AI Genesis AI develops general-purpose robotics systems. | Undisclosed | Planned strategic investment | Robotics · France | NVIDIA | |
| Dapta Dapta develops AI sales agents for small and medium-sized businesses. | $6M | Seed | Enterprise software · United States | FEN Ventures, Cometa VC, Chingona Ventures (lead), Broom Ventures, 500 Global, Crew Capital | |
| wudhomes wudhomes makes custom living-room furniture and helps customers choose pieces that fit their space through design advice, store visits and home consultations. | ₹25M | Pre-seed | Consumer · India | Yash Banwani, ajvc (lead), Keertay Agarwal, Rohit Choudhary | |
| Entalpic Entalpic designs molecules and materials for industrial surface chemistry. | Undisclosed | Planned strategic investment | Industrial tech · France | NVIDIA | |
| Hiverge Hiverge develops an AI research platform that searches for better algorithms and computational approaches. | Undisclosed | Planned strategic investment | AI · United Kingdom | NVIDIA | |
| Foresight Foresight helps infrastructure owners and project teams forecast construction completion dates and identify schedule risks. | Undisclosed | Planned strategic investment | AI · United Kingdom | NVIDIA | |
| ICON Robotic construction systems, software and materials for buildings on Earth and beyond. | $200M | Series D | Robotics · United States | Norwest, Tiger Global, Moderne Ventures, BlackRock (lead), The Syndicate, Moonshots Capital, Baillie Gifford (lead), CAZ Investments, Overmatch, Capital Factory | |
| Nearhuman Nearhuman builds on-device computer vision systems that help shared scooter and bicycle operators detect street-level safety risks. | Undisclosed | Frontier AI Discovery grant | AI · United Kingdom | Innovate UK | |
| Sainaptic Sainaptic helps awarding organisations and training providers mark vocational and professional assessments with AI-generated feedback that human assessors review. | £1M | Seed | Edtech · United Kingdom | Elm Venture Partners, Cornerstone VC (lead), Ufi Ventures (lead), Brighteye Ventures | |
| Clueso Clueso helps business teams create and maintain product videos, training content and accompanying documentation. | $10M | Series A | Enterprise software · United States | Neotribe Ventures, Dharana Capital (lead), f7 Ventures, Founders Future, Y Combinator (YC) | |
| EFY Finance EFY Finance connects stablecoins with bank accounts and cross-border payment networks. | Undisclosed | Seed | Fintech · Panama | Tether | |
| reebuild reebuild helps construction companies and property developers review invoices, track materials and control project costs. | €3M | Seed | Proptech · Austria | Curiosity VC, Rise PropTech, Fortino Ventures (lead), Hansmann Family Office | |
| Riverlane Riverlane builds quantum error-correction hardware and software for quantum-computer manufacturers and research organisations. | Undisclosed | Planned strategic investment | Hardware · United Kingdom | NVIDIA | |
| ID Finance A digital consumer-finance company offering online lending and financial services to consumers in Spain and Mexico. | €545M | Debt and equity financing | Fintech · Spain | Spice Expeditions (lead), Washington University in St. Louis (lead), Kingsway Capital (lead), i80 Group (lead) | |
| CMR Surgical CMR Surgical develops the Versius surgical robotics platform for hospitals and surgical teams performing minimal access procedures. | ~$400M | Strategic preferred equity agreement | Healthtech · United Kingdom | Stryker |