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 |
|---|---|---|---|---|---|
| H2SITE H2SITE builds membrane reactors and separators that produce high-purity hydrogen from transportable carriers and gas mixtures. | Undisclosed | Selected for grant agreement preparation | Climate tech · Spain | EU Innovation Fund | |
| Syncrowin Industrial AI software for improving the reliability and performance of energy and manufacturing sites. | A$3M | Pre-seed | Industrial tech · Australia | POV Ventures, Ventari, Co-Ventures, Hustle Fund, Collide Capital (lead) | |
| Reverion Reversible solid oxide fuel cell power plants that generate dispatchable electricity from gas and can store surplus power as storable gas. | Undisclosed | Selected for grant agreement preparation | Climate tech · Germany | EU Innovation Fund | |
| Greptile Greptile builds an AI code-review and validation platform that checks software changes against the context of a team’s codebase. | $50M | Series B | Developer tools · United States | Menlo Ventures (lead), Browder Capital, Initialized Capital, Operator Collective, Wing Venture Capital, Benchmark, Jump Trading, Y Combinator (YC) | |
| Epyr Thermal energy storage for industrial heat. | Undisclosed | Selected for grant agreement preparation | Climate tech · France | EU Innovation Fund | |
| DJ Insight DJ Insight develops TsutaeAI, software that analyses video and audio to help organisations review face-to-face interactions. | ¥20M | Loan approval | AI · Japan | Japan Finance Corporation |