The Weekly Notable Startup Funding Report: 10/20/25 – AlleyWatch

The Weekly Notable Startup Funding Report takes us on a trip across various ecosystems in the US, highlighting some of the notable funding activity in the various markets that we track. The notable startup funding rounds for the week ending 10/18/25 featuring funding details for Movandi, Upgrade, Campfire, and eighteen other deals representing $1.4B in new funding that you need to know about.

Aptera – $75.0M

Carlsbad-based Aptera Motors is an electric vehicle manufacturer that designs and develops aerodynamic electric vehicles. Founded by Chris Anthony and Steve Fambro in 2006, Aptera has now raised a total of $207.2M in total equity funding and is backed by New Circle Capital.

Basis Theory – $33.0M

Mill Valley-based Basis Theory provides a programmable vault and API platform for tokenizing, routing, and securing sensitive data throughout its lifecycle. Founded by Ben Milne, Brian Billingsley, and Colin T. Luce in 2020, Basis Theory has now raised a total of $50.0M in total equity funding and is backed by Bessemer Venture Partners, BoxGroup, Costanoa Ventures, Kindred Ventures, Moneta VC, Offline Ventures, and Stage 2 Capital.

Campfire – $65.0M

San Francisco-based Campfire offers an AI-native enterprise resource planning software for mid-sized and enterprise companies. Founded by Fernando Martin and John Glasgow in 2023, Campfire has now raised a total of $107.6M in total equity funding and is backed by Accel, Brad Floering, Foundation Capital, Karim Atiyeh, Naeem Ishaq, QuantumLight, Ribbit Capital, Scott Buxton, Steve Sidhu, and Y Combinator.

ClaimSorted – $13.3M

New York-based ClaimSorted is a insurtech company that develops an AI-powered claims management platform designed to act as a next-generation TPA. Founded by German Mikulski and Pavel Gertsberg in 2024, ClaimSorted has now raised a total of $16.3M in total equity funding and is backed by Atomico, Eurazeo, Firstminute Capital, Start Ventures, and Y Combinator.

Conceal – $26.0M

Augusta-based Conceal offers a browser-native security platform that embeds zero-trust controls and policy enforcement directly into web browsers. Founded by Barbara Hunt in 2012, Conceal has now raised a total of $35.0M in total equity funding and is backed by AllegisCyber, Gula Tech Adventures, and Two Bear Capital.

Deel – $300.0M

San Francisco-based Deel offers a unified platform that supports payroll, HR, compliance, and workforce management across global teams. Founded by Alex Bouaziz, Ofer Simon, and Shuo Wang in 2019, Deel has now raised a total of $982.0M in total equity funding and is backed by Andreessen Horowitz, Coatue, General Catalyst, Green Bay Ventures, and Ribbit Capital.

Glide Identity – $20.0M

San Francisco-based Glide Identity provides SIM-based cryptographic authentication and verification systems using telecom network APIs. Founded by Eran Haggiag in 2024, Glide Identity has now raised a total of $20.0M in total equity funding and is backed by Amigos Venture Capital, Crosspoint Capital Partners, Fidelity International Strategic Ventures, Singtel Innov8, and Sir Ronald Cohen.“

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Liberate Innovations – $50.0M

Palo Alto-based Liberate Innovations is a software-as-a-service (SaaS) platform for the P&C insurance industry. Founded by Amrish Singh, Jason St Pierre, and Ryan Eldridge in 2022, Liberate Innovations has now raised a total of $72.0M in total equity funding and is backed by Battery Ventures, Canapi Ventures, Commerce Ventures, Eclipse Ventures, and Redpoint.

Lila Sciences – $115.0M

Cambridge-based Lila Sciences creates a scientific superintelligence platform and autonomous labs for life sciences, chemistry, and materials science. Founded by Molly Gibson and Noubar Afeyan in 2023, Lila Sciences has now raised a total of $550.0M in total equity funding and is backed by Altitude Life Science Ventures, Alumni Ventures, Analog Devices, ARK Venture Fund, Catalio Capital Management, Common Metal, Dara Holdings, Dauntless Ventures., Flagship Pioneering, General Catalyst, IQT, March Capital, Modi Ventures, NGS Super, NVentures, Pennant Investors, State of Michigan Retirement System, and The Mathers Foundation.

MatrixSpace – $20.0M

Burlington-based MatrixSpace delivers AI-powered sensor and radar systems together with software for real-time situational awareness. Founded by Gregory Waters and Jose Martinez Lorenzo in 2019, MatrixSpace has now raised a total of $60.1M in total equity funding and is backed by L3Harris Technologies, OTB Ventures, and Raptor Group.

Medmo – $15.0M

New York-based Medmo is a healthcare company that develops a platform to connect patients with local medical centers. Founded by Christopher Kelly and Lucas Takahashi in 2017, Medmo has now raised a total of $30.9M in total equity funding and is backed by Covera Health, Digital Health Venture Partners, Lerer Hippeau, Origin Ventures, and TGVP.

Movandi – $40.0M

Irvine-based Movandi is a wireless systems company tackling the technical challenges of 5G millimeter wave networks. Founded by Ahmadreza Rofougaran and Maryam Rofougaran in 2016, Movandi has now raised a total of $96.7M in total equity funding and is backed by 5G Ventures, Celesta Capital, Cota Capital, DNX Ventures, ITHCA group, Murata Manufacturing, Sierra Ventures, and VentureTech Alliance.

Nova Credit – $35.0M

New York-based Nova Credit is a credit infrastructure and analytics company that enables businesses to grow responsibly through alternative credit data. Founded by Loek Janssen, Misha Esipov, and Nicky Goulimis in 2016, Nova Credit has now raised a total of $159.4M in total equity funding and is backed by Canapi Ventures, Gaingels, General Catalyst, Harmonic Growth Partners, Index Ventures, Kleiner Perkins, National Bank of Canada, NAventures, Radiate Capital, Socium Ventures, and Y Combinator.

OneLayer – $28.0M

Boston-based OneLayer offers a security and asset management platform focused on private LTE and 5G networks. Founded by Dave Mor and Or Turgeman in 2021, OneLayer has now raised a total of $42.7M in total equity funding and is backed by Chevron Technology Ventures, Grove Ventures, Koch Disruptive Technologies, Maor Investments, McRock Capital, and Viola Ventures.

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Pear Suite – $7.6M

Seattle-based Pear Suite is a digital health company that helps community health workers to address social determinants of health. Founded by Colby R. Takeda and Nick Lockett in 2021, Pear Suite has now raised a total of $11.1M in total equity funding and is backed by Acumen America, California HealthCare Foundation, Enable Ventures, Impact Engine, Mucker Capital, Nexxus Holdings, Rock Health Capital, and The SCAN Foundation.

Pelage Pharmaceuticals – $120.0M

Los Angeles-based Pelage Pharma is a regenerative medicine biotechnology company developing treatments for hair loss. Founded by Heather Christofk, Michael Jung, and William Lowry in 2018, Pelage Pharmaceuticals has now raised a total of $150.8M in total equity funding and is backed by ARCH Venture Partners, GV, Main Street Advisors, Visionary Venture Fund, and YK Bioventures.

Reducto – $75.0M

San Francisco-based Reducto is an AI-driven API that specializes in converting unstructured documents like PDFs and images into structured data. Founded by Adit Abraham and Raunak Chowdhuri in 2023, Reducto has now raised a total of $108.4M in total equity funding and is backed by Andreessen Horowitz, Benchmark, BoxGroup, First Round Capital, and Y Combinator.

Starship Technologies – $50.0M

San Francisco-based Starship Technologies is a robotics company building fleets of self-driving delivery robots designed to deliver goods. Founded by Ahti Heinla and Janus Friis in 2014, Starship Technologies has now raised a total of $281.2M in total equity funding and is backed by Coefficient Capital, Karma Ventures, Latitude, Plural, Skaala, and SmartCap.

Upgrade – $165.0M

San Francisco-based Upgrade is a fintech company that offers mobile banking, credit, and payment products to mainstream consumers. Founded by Adelina Grozdanova, Jeff Bogan, Matt Wierman, Renaud Laplanche, Soul Htite, and Visar Nimani in 2016, Upgrade has now raised a total of $752.0M in total equity funding and is backed by DST Global, LuminArx Capital Management LP, Neuberger Berman, and Ribbit Capital.

VeraDermics – $150.0M

New Haven-based VeraDermics is a dermatology company that creates novel drug delivery mechanisms for a pain-free cure for skin conditions. Founded by Kyle Ryder, Lauren Durso, Madeline DeWane, Ming Lee, and Reid Waldman in 2019, VeraDermics has now raised a total of $260.7M in total equity funding and is backed by Aberdeen Investments, Columbia Threadneedle Investments, Infinitium, Invus, LifeSci Venture Partners, Longitude Capital, Marshall Wace, SR One, Surveyor Capital, Suvretta Capital Management, and Viking Global Investors.

WellTheory – $14.0M

Atherton-based WellTheory is a virtual care platform providing autoimmune and inflammatory conditions care services. Founded by Claire Rudolph, Ellen Rudolph, and Wallace Torres in 2021, WellTheory has now raised a total of $26.2M in total equity funding and is backed by 7wire Ventures, Accel, BoxGroup, General Catalyst, Ingeborg Investments, Leaps by Bayer, and Up2 Opportunity Fund.

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