It’s Thursday, May 29, 2025—and we’re back with your daily funding rundown, charting the capital flows, emerging startups, and strategic bets that signal where tech is headed next.
Today’s batch is nothing short of diverse, both in geography and ambition. From Grammarly locking in a stunning $1 billion infusion to expand its AI-powered productivity suite to AusperBio’s $50 million push for a hepatitis B cure, the momentum across sectors is undeniable. Whether it’s transforming construction logistics, protecting tissue during surgery, or predicting wildfire smoke with AI, the message is clear: innovation isn’t slowing down—it’s scaling up.
Funding Highlights
Topping the charts is Grammarly, backed once again by General Catalyst with a $1B check to go beyond writing and redefine digital productivity. Empathy secured $72M to modernize legacy and end-of-life planning, while Buildots brought in $45M to advance its AI platform tracking construction progress. Biotech also had a big day: AusperBio raised $50M to push its hepatitis B treatment into Phase II trials, and Surgify Medical landed €7M to scale its tissue-protective surgical drill across Europe and the U.S.
Investor Activity
General Catalyst, Adams Street Partners, Qumra Capital, and ZEISS Ventures led the charge, joined by top-tier VCs like Index Ventures, Viola Growth, and Fuel Ventures. From insurtech to deeptech, these firms are backing founders who are building real products, solving real pain points, and showing real traction.
From early-stage bets like Trace AQ’s wildfire forecasting tool to late-stage growth rounds like Grammarly’s billion-dollar raise, today’s funding landscape is a snapshot of bold vision backed by serious conviction.
Below is the full breakdown of every deal we tracked today, complete with company summaries, investor context, and key funding details.
Buildots Raises $45M Series D for AI Construction-Tracking Platform
Buildots, a Chicago-based AI-driven construction tech startup, raised $45 million in a Series D round. The funding was led by Qumra Capital and included participation from OG Venture Partners, TLV Partners, Poalim Equity, Future Energy Ventures, and Viola Growth. Founded in 2018 by Israeli entrepreneurs, Buildots uses 360° camera imagery and AI to forecast construction progress and alert site managers to delays.
The new capital (bringing total funding to $166M) will be used to expand the product across more stages of the construction lifecycle, leveraging historical project data to train AI models that benchmark and optimize project performance. We covered the Israeli tech startup back in July when it raised $15M in funding led by Intel Capital to revolutionize construction with AI.
Startup: Buildots (US – construction tech)
Investors: Qumra Capital (lead), OG Venture Partners, TLV Partners, Poalim Equity, Future Energy Ventures, Viola Growth
Amount Raised: $45M
Total Raised: $166M
Funding Stage: Series D
Funding Date: May 29, 2025
Grammarly Raises $1B from General Catalyst for AI Productivity Expansion
San Francisco-based Grammarly (AI writing assistant) secured $1.0 billion in funding from its long-time investor General Catalyst. The round, backed by General Catalyst’s Customer Value Fund, raises Grammarly’s total funding to roughly $1.4 billion.
The company, which serves 40 million users and generates over $700 million in annual revenue, said the new capital will be used to scale sales and marketing and pursue strategic acquisitions. This infusion follows the startup’s January acquisition of Coda and positions Grammarly to expand beyond writing assistance toward a broader AI-driven productivity platform.
Startup: Grammarly (US – AI writing/productivity)
Investors: General Catalyst (lead)
Amount Raised: $1.0B
Total Raised: ~$1.4B
Funding Stage: Funding round (non-dilutive)
Funding Date: May 29, 2025
Empathy Raises $72M Series C to Streamline Legacy Planning
InsurTech startup Empathy has raised $72 million in a Series C round to expand its platform for legacy planning and end-of-life services. The round was led by Adams Street Partners and included participation from investors such as General Catalyst, Index Ventures, and insurers’ venture arms (Aflac Ventures, Allianz Life Ventures, MetLife, New York Life, etc.).
“We’ve built a strategic coalition,” CEO and co-founder Ron Gura said. “Eleven insurance companies came together to support a single partner – us. These are massive institutions, each managing more than a trillion dollars. We now work with the majority of life insurance providers in the U.S., including Allianz, the largest insurer in the world.”
Empathy has partnerships with major insurers like New York Life and Prudential and generates “tens of millions” in revenue. The proceeds will support further growth in its insurtech business, helping carriers integrate Empathy’s solutions into policy offerings for legacy and bereavement planning.
Startup: Empathy (US – insurtech/legacy planning)
Investors: Adams Street Partners (lead), General Catalyst, Index Ventures, Entrée Capital, Brewer Lane Ventures, SemperVirens, Latitude, LionTree, Aflac Ventures, Allianz Life Ventures, Citi Impact Fund, Munich Re, MetLife, New York Life, Securian, TIAA Ventures
Amount Raised: $72M
Total Raised: $162M
Funding Stage: Series C
Funding Date: May 29, 2025
Trace AQ Raises $1.25M Seed to Forecast Wildfire Smoke and Air Quality
Trace Air Quality (Trace AQ), a University of Utah spinout in Salt Lake City, raised $1.25 million in seed funding to commercialize its AI-driven air quality forecasting platform. The round was led by Rusheen Capital Management (climate/energy-focused firm) with co-investments from Thin Line Capital and venture investor Curt Doman.
Trace AQ’s platform uses satellite imagery, meteorological models, and AI to predict air quality (especially wildfire smoke) up to 96 hours ahead. The new capital will help the team refine its forecasting tools and expand pilot programs with western U.S. utilities, state agencies, insurers, and other customers who need advance warning of pollution events.
Startup: Trace Air Quality (US – environmental tech)
Investors: Rusheen Capital Management (lead), Thin Line Capital, Curt Doman (with University of Utah Technology Licensing Office support)
Amount Raised: $1.25M
Total Raised: $1.25M (seed round)
Funding Stage: Seed
Funding Date: May 29, 2025
Surgify Medical Raises €7M Series A for Tissue-Protective Surgical Drill
Finland’s Surgify Medical, maker of the “Surgify Halo” bone-cutting drill, raised €7 million in a Series A round led by ZEISS Ventures. The company’s technology protects soft tissue during bone surgery (head, neck, spine) by cutting bone without damaging nearby vessels or nerves. With this funding (bringing the total to ~€7M), Surgify plans to expand operations across Europe and the U.S. after a successful Nordic market launch. The round also included participation from the European Innovation Council Fund and existing backers Lednil and Cascara Ventures. Surgify will use the proceeds to scale its team and meet growing hospital demand for its safer surgical drill technology.
Startup: Surgify Medical (Finland – medical devices)
Investors: ZEISS Ventures (lead), European Innovation Council Fund (EIC Fund), Lednil, Cascara Ventures
Amount Raised: €7M
Total Raised: €7M (Series A)
Funding Stage: Series A
Funding Date: May 29, 2025
AusperBio Raises $50M Series B+ for Hepatitis B Cure Development
AusperBio Therapeutics, a US-China biotech (SF-based and Shanghai-based), closed a $50 million Series B+ round led by a returning lead investor, with strong participation from Qiming Venture Partners, CDH Investments, Genesis Capital, YuanBio, HanKang Capital, and Sherpa Capital.
The company is developing antisense oligonucleotide therapies for chronic hepatitis B. Proceeds will fund Phase II clinical trials of its lead candidate AHB-137 outside China, along with scaling up manufacturing partnerships and advancing its pipeline. This latest round follows AusperBio’s December 2024 Series B and underscores investor confidence in its goal of a functional cure for hepatitis B.
Startup: AusperBio (US/China – biotech, hepatitis B)
Investors: Industry VC (returning lead), Qiming Venture Partners, CDH Investments, Genesis Capital, YuanBio VC, HanKang Capital, Sherpa Capital
Amount Raised: $50M
Total Raised: ~$100M+ (B and B+ rounds)
Funding Stage: Series B+
Funding Date: May 29, 2025
Sequence Raises $7.5M for Automated Finance Management Platform
Sequence, an Israeli-founded fintech (based in NYC), raised $7.5 million in a funding round (totaling $14.5M raised to date) led by Aleph and Emerge Ventures. Sequence’s software provides an “autopilot” for consumers and SMEs to automate financial management (debt repayment, tax savings, expense management, etc.). Additional backers in the round included ICON and investor Yasmin Lukatz. The startup will use the funding to expand operations, grow its customer base, and continue product development.
Startup: Sequence (Israel/US – fintech)
Investors: Aleph (lead), Emerge Ventures, ICON, Yasmin Lukatz
Amount Raised: $7.5M
Total Raised: $14.5M
Funding Stage: Seed round
Funding Date: May 29, 2025
Kyron.bio Raises €5.5M to Advance Glycan-Engineered Therapeutics
Kyron.bio, a Paris-based biotech focusing on glycan engineering, raised €5.5 million to develop its platform for enhanced therapeutic proteins. The financing was led by HCVC (lead) with Verve Ventures, Entrepreneur First, and Saras Capital also investing.
The company’s technology enables precise control of N-glycosylation on biotherapeutics to improve safety and efficacy. Kyron.bio will use the capital to expand its research and development efforts and accelerate the commercialization of its glyco-engineering platform.
Startup: Kyron.bio (France – biotech)
Investors: HCVC (lead), Verve Ventures, Entrepreneur First, Saras Capital
Amount Raised: €5.5M
Total Raised: €5.5M
Funding Stage: Funding round (seed)
Funding Date: May 29, 2025
Alrik Raises $7M to Optimize Construction Site Logistics
Stockholm’s Alrik, a construction logistics software startup, announced $7 million in total funding. The latest round (amount undisclosed) was led by People Ventures and included existing investor Pi Labs. Alrik provides a platform that automates and optimizes materials logistics for construction firms (transport sourcing, invoicing, emissions reporting, etc.). The proceeds will accelerate Alrik’s growth and product development as it expands its software’s reach in the Nordic market.
Startup: Alrik (Sweden – construction tech)
Investors: People Ventures (lead), Pi Labs
Amount Raised: $7M
Total Raised: $7M
Funding Stage: Funding round
Funding Date: May 29, 2025
Velocity Raises $10M Pre-Seed for Cross-Border Treasury Platform
Velocity (London, UK) secured $10 million in a pre-seed funding round led by Activant Capital. The fintech startup, founded by Tom Greenwood and Eric Queathem, offers a unified fiat and digital asset treasury platform that enables real-time cross-border settlements and intelligent FX routing.
Other investors in the round included Fuel Ventures, Triton Capital, Fabric Ventures, Commerce Ventures, and Preface Ventures. Velocity will use the capital to expand operations and develop its product, bringing institutional-grade treasury tools to global businesses.
Startup: Velocity (UK – fintech)
Investors: Activant Capital (lead), Fuel Ventures, Triton Capital, Fabric Ventures, Commerce Ventures, Preface Ventures
Amount Raised: $10M
Total Raised: $10M
Funding Stage: Pre-Seed
Funding Date: May 29, 2025
Atomic Canyon Raises $7M to Build AI Tools for Nuclear Industry
Atomic Canyon (San Luis Obispo, CA) raised $7 million to advance its AI-powered document search and generative platform for nuclear power plants. The seed round was led by Energy Impact Partners’ Elevate Future Fund and included Commonweal Ventures, Plug and Play Ventures, Wischoff Ventures, Tower Research Ventures, and angel investors.
Atomic Canyon’s flagship product, Neutron Enterprise, uses AI models trained on nuclear industry terminology to make plant documents easily searchable (it’s already in use at PG&E’s Diablo Canyon plant). The funding will be used to accelerate deployments of its AI platform across the nuclear sector and support future product development.
Startup: Atomic Canyon (US – energy AI)
Investors: Energy Impact Partners (Elevate Future Fund, lead), Commonweal Ventures, Plug and Play Ventures, Wischoff Ventures, Tower Research Ventures, angels
Amount Raised: $7M
Total Raised: $7M
Funding Stage: Seed/Funding round
Funding Date: May 29, 2025
Funding Summary Table
Startup
Investors (Lead, Notable)
Amount Raised
Total Raised
Funding Stage
Funding Date
Buildots
Qumra Capital (lead); OG Venture, TLV, Poalim, Future Energy, Viola Growth
$45M
$166M
Series D
May 29, 2025
Grammarly
General Catalyst (lead)
$1.0B
~$1.4B
Funding round
May 29, 2025
Empathy
Adams Street Partners (lead); GC, Index, insurers’ VCs
$72M
$162M
Series C
May 29, 2025
Trace AQ
Rusheen Capital (lead); Thin Line Capital, Curt Doman
$1.25M
$1.25M
Seed
May 29, 2025
Surgify Medical
ZEISS Ventures (lead); EIC Fund, Lednil, Cascara
€7M
€7M
Series A
May 29, 2025
AusperBio
Returning VC (lead), Qiming, CDH, Genesis, YuanBio, HanKang, Sherpa
$50M
~$100M+
Series B+
May 29, 2025
Sequence
Aleph (lead); Emerge, ICON, Yasmin Lukatz
$7.5M
$14.5M
Seed
May 29, 2025
Kyron.bio
HCVC (lead); Verve Ventures, Entrepreneur First, Saras
€5.5M
€5.5M
Seed/Funding round
May 29, 2025
Alrik
People Ventures (lead); Pi Labs
$7M
$7M
Funding round
May 29, 2025
Velocity
Activant Capital (lead); Fuel, Triton, Fabric, Commerce, Preface
$10M
$10M
Pre-Seed
May 29, 2025
Atomic Canyon
EIP – Elevate Future Fund (lead); Commonweal, Plug and Play, Wischoff, Tower, angels
$7M
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