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 |
|---|---|---|---|---|---|
| MAX MAX provides electric-vehicle and battery subscriptions for commercial drivers. | Undisclosed | Series B3 extension | Mobility · Nigeria | Nithio | |
| Mistlabs Mistlabs develops Ambi, an ambient AI assistant that uses context and memory to suggest actions across connected devices. | Undisclosed | Pre-A | AI · United States | Huaqin Technology (lead), Luminous Ventures (lead) | |
| Loops AI An integrated AI commerce platform for brands and retailers. | $3.5M | Seed | Ecommerce · United States | Monday Capital, NTT DOCOMO Ventures, a16z Speedrun, Alumni Ventures, Connecticut Innovations | |
| Matter Machine AI-supported discovery of inorganic crystalline materials. | £4M | Pre-Series A | Industrial tech · United Kingdom | University of Liverpool Enterprise Fund, Parkwalk Northern Universities Venture Fund, IP Group plc (lead), Northern Gritstone, LYVA Labs, Norrsken Evolve | |
| HyLight HyLight operates autonomous airships and inspection software that help energy and transport operators locate defects across their infrastructure. | €13M | Funding round | Industrial tech · France | Teampact Ventures, Ring Capital, DRW, Rubio Impact Ventures (lead), Y Combinator (YC) | |
| Salehli Salehli connects customers in Syria with maintenance and renovation professionals through a digital marketplace. | $100K | Investment round | Business services · Syria | EBLA Ventures | |
| Boldfit Boldfit sells sportswear, footwear and fitness equipment for people training at home, in gyms and on the court. | >₹4B | Series B | Consumer · India | Bessemer Venture Partners, Bharat Value Fund (lead) | |
| Alo Hakeem Alo Hakeem connects patients and families in Syria with licensed healthcare professionals who provide care at home. | $165K | Pre-seed | Healthtech · Syria | EBLA Ventures (lead) | |
| Craftgate Payment orchestration software connecting merchants to payment providers and methods through one integration. | Undisclosed | Minority investment | Fintech · Türkiye | Turkven | |
| Scarlet Certification services for software and AI medical devices. | $50M | Series B | Healthtech · United Kingdom | Creandum, Atomico, Notion Capital, Headline (lead), Entrepreneurs First, Kindred Capital | |
| 1KOMMA5° Integrated home electrification and energy management through Heartbeat AI. | ~€70M | Equity financing | Climate tech · Germany | CalSTRS, eCAPITAL, Marunouchi Innovation Partners, Eurazeo, b2venture (lead), G2 Venture Partners | |
| Huppa Huppa provides management software for gyms and studios, combining memberships, class bookings, payments and business reporting. | €1M | Pre-seed | Enterprise software · Netherlands | NL SportTech Ventures | |
| Snappy Group Retail technology group behind Snappy Shopper, online ordering software and retail media services. | Undisclosed | Seven-figure venture debt facility | Ecommerce · United Kingdom | Virgin Money | |
| Monopulse Danish-Lithuanian manufacturer of tactical drones for military, government and law-enforcement customers. | >€2M | Undisclosed | Defense tech · Denmark | Plug and Play Ventures, Coinvest Capital (lead), NGL Ventures |