Weekly funding picks, 19–25 October: banking AI, machine monitoring and code validation
Picks for 19–25 October: Upstage’s ₩40bn first tranche, Tractian’s $130m industrial-monitoring round and Greptile’s $50m for code validation.
Jeonbuk Bank, Kwangju Bank and JB Woori Capital signed a ₩40 billion investment agreement with Upstage on October 20, securing an approximately 2% stake for JB Financial Group. This is the first tranche of its Series C-2, with further investment planned. The partners intend to develop financial-services AI agents and automate document processing and reviews.
Upstage financing22 October · Tractian raises $130m for industrial monitoring
Tractian announced a $130 million Series D on October 22 led by Sapphire Ventures and co-led by M&G Catalyst, at a $1.4 billion valuation. The company combines field sensors with AI to monitor critical industrial equipment. Its platform brings vibration, ultrasound, current and temperature signals into a unified view for maintenance teams.
Tractian financing19 October · Greptile raises $50m for code validation
Menlo Ventures led Greptile’s $50 million Series B announced on October 19 at a $750 million valuation. The company develops automated review and testing for software changes. Greptile says it reviews and tests more than 1% of GitHub pull requests daily, acting as an independent validation layer for teams using multiple coding agents.
Greptile financingThe three financing records
Sources
All rounds in this edition
| Company | Amount | Round | Sector · country | Investors | Date |
|---|---|---|---|---|---|
| Opply An operating platform that helps consumer goods brands run sourcing, procurement and supply-chain work. | $7.5M | Undisclosed | Enterprise software · United Kingdom | Chalfen Ventures (lead), Index Ventures, Entrepreneurs First, Anthemis Group, In This Together, Ventures Together | |
| Vitalls Vitalls provides a digital health passport that lets people organise medical records and share them with healthcare providers across countries. | $1.5M | Seed commitment | Healthtech · United Arab Emirates | EST Growmore Pte. Ltd. (lead) | |
| Kaminashi Kaminashi provides cloud software for frontline operations in factories, warehouses and stores. | ~¥2.2B | Series C | Enterprise software · Japan | NTT DOCOMO Ventures, IF Growth 1 (lead), T&D Innovation Fund, Artemis Ventures, Inc., Dai-ichi Life Insurance, YMFG Capital, Keio Rail Fund, Chiba Dojo Fund, KRAFTIA Innovation Fund | |
| Tenpal Tenpal helps businesses find public tenders and prepare applications using AI-assisted workflows. | Undisclosed | Angel round | Enterprise software · Germany | Steffen Saebisch, Kai Leisering, Daniel Meisen, Christian Lindner | |
| 8VC AI Fund XI 8VC AI Fund XI is a US private investment vehicle associated with 8VC. | $13.5M | AI Fund XI | Business services · United States | ||
| Rulen AI workflow software for tax advisers, accountants and corporate finance teams. | €1.8M | First funding round | Enterprise software · Italy | Growth Engine, AME Ventures, Alpha Venture, Magic Mind, VC Partners (lead) | |
| Mach9 AI CAD software that turns laser scans and imagery into engineering drawings for infrastructure projects. | $34M | Series A | Enterprise software · United States | First Round Capital (lead), Bessemer Venture Partners (lead), Prudence, Quiet Capital | |
| Azoma Azoma helps consumer brands measure and improve how AI shopping agents discover and recommend their products. | $11.2M | Series A | AI · United Kingdom | Twin Path Ventures, MaRS Investment Accelerator Fund (IAF), Team Ignite Ventures, Puma Alpha VCT (lead), Puma VCT 13 (lead), Rank Ventures, dunnhumby | |
| Arctic Therapeutics Arctic Therapeutics develops treatments for neurological, autoimmune and inflammatory skin diseases using insights from human genetics. | $21.5M | Undisclosed | Biotech · Iceland | Kaldbakur (lead), Sanos Group (lead), Pekron (lead), Landvættir (lead) | |
| Distalmotion Distalmotion develops the DEXTER robotic surgery system for hospitals and outpatient surgery centres. | ≤$70M | Senior secured term loan facility | Healthtech · Switzerland | Perceptive Advisors | |
| Jio Platforms Jio Platforms holds Reliance Industries’ telecom and digital services businesses in India. | ≤₹302.1B | IPO subscription opened | Enterprise software · India | ||
| EstateMin EstateMin provides software for trust and estate law firms. | €1M | Pre-seed | Enterprise software · United States | Enterprise Ireland, Moira McKenna, Mike Hanrahan, First Port Syndicate, NDRC, Conor Stanley | |
| Coherence Neuro Investigational implants and bioelectronic systems for monitoring and treating cancer. | $45M | Series A | Healthtech · United States | OpenAI Startup Fund (lead), Xtal, Ahren Innovation Capital, Blackbird Ventures, Topology Ventures, Lux Capital, XEIA Venture Partners, 8VC, Olive Capital, Founders Fund (lead), Possible Ventures, Divergent Capital, Timeless Partners, Artesian | |
| Legora Legora develops AI software for law firms and in-house legal teams. | $550M | Series E | Enterprise software · Sweden | J.P. Morgan, Redpoint Ventures, Glade Brook Capital Partners, Bessemer Venture Partners, Atreides Management (lead), Sands Capital, Salesforce Ventures, Insight Ventures Partners, Accel, General Catalyst, ICONIQ, Benchmark, Baron Capital, Fidelity Management & Research Company, Capital Group | |
| Starlight Engine Starlight Engine develops fusion power plants and leads Japan’s FAST demonstration project. | Undisclosed | Strategic equity investment | Climate tech · Japan | TAKANAWA GATEWAY Global Co-Benefits Fund L.P. | |
| Pascal Solid-refrigerant cooling systems that combine porous materials and carbon dioxide to move heat. | $8.5M | Seed extension | Climate tech · United States | LB Investment (lead), KDB Silicon Valley, Sazze Partners (lead) | |
| Sonexos Sonexos develops plasma-based active noise-control systems for appliance, HVAC and industrial equipment manufacturers. | CHF 5M | Pre-Series A | Industrial tech · Switzerland | Bosch Ventures | |
| Flapping Airplanes AI research company developing more efficient model training, GPU execution and inference. | $1B | Series A | AI · United States | Lux Capital (lead), Index Ventures (lead) | |
| Bold Colombian fintech providing payments, business accounts and credit to small and medium-sized merchants. | COP 37.5B | Bilateral credit facility | Fintech · Colombia | BBVA Spark | |
| Blacksmith Cloud infrastructure for building and testing software through continuous integration workflows. | $66M | Series C | Developer tools · United States | GV, Sequoia Capital (lead), Premji Invest, Peak XV Partners, Y Combinator (YC) | |
| Photon Bridge Photon Bridge develops laser sources for optical links between AI processors. | €10M | Undisclosed | Hardware · Netherlands | Faber, Amadeus APEX Technology Fund (lead), Brabant Development Agency (BOM), Innovation Industries, 360 Capital (lead) | |
| Mika Games Mika Games backs mobile game studios with capital for development and paid user acquisition tests. | $10M | Funding round | Media & gaming · Cyprus | Flint Capital (lead) | |
| Jenz Jenz builds AI agents for retail back-office operations. | €540K | Pre-seed | Enterprise software · Norway | Ada Ventures, Antler | |
| Flowtica AI Flowtica AI makes recording devices and software that turn conversations into searchable notes and follow-up tasks. | Undisclosed | Undisclosed | AI · Singapore | 清水湾基金, 5Y Capital, Source Code Capital, Vertex Ventures China | |
| Pigment Pigment provides business planning and performance-management software. | $250M | Series E | Enterprise software · France | World Innovation Lab, Greenoaks, Meritech, Scaleup Europe Fund (lead), ICONIQ, IVP | |
| Nethive Nethive provides managed cybersecurity services, specialist consulting and proprietary software to help businesses and public-sector organisations protect networks and critical infrastructure. | Undisclosed | Majority growth investment | Cybersecurity · Italy | Bregal Milestone | |
| Hephaestus Hephaestus develops superconducting magnets and negative-triangularity fusion technology to reduce the cost of fusion energy. | Undisclosed | Undisclosed | Climate tech · United Kingdom | CiRi Ventures (lead) | |
| Whop Provides a platform for creators to accept payments, launch ventures, and engage with others | $200M | Series D | Fintech · United States | Sequoia Capital (lead), Shopify Ventures (lead) | |
| theQA A consumer research platform connecting organisations with local survey participants in Kuwait. | >$550K | Pre-seed | Enterprise software · Kuwait | ||
| Raaho Raaho connects third-party logistics providers with truck operators in India. | Undisclosed | Pre-Series A investment | Logistics · India | ENRISSION SP26 India Investment Limited Partnership |