It is Monday, June 2, 2025, and returns to the initial daily fundraising overview of June, tracking the capital flows, bold ideas and global bets that will shape the next wave of innovation.
Today’s Roundup is lighter than usual in trading volume, but it’s not ambition. The pace of fundraising has slowed to begin the week, but several key moves have remained important moves, from Neuralink’s $650 million Series E Push to a brain computer interface to Udaan’s $114 million salary increases to expand India’s B2B e-commerce empire. Elsewhere, Mbi set aside $100 million to deepen its global indie film niche, and expanded its critical infrastructure by applying early stages of AI startups like Fintech and Spense, as well as computing to quietly shut down.
Investor Activities
Although Monday did not bring about a massive amount of deals, the activities we saw highlighted continued convictions on AI, fintech, neurotechnology and digital platforms. Supporters such as Ark Invest, Sequoia Capital, Lightspeed and Growth Cap Ventures have made targeted moves, even as the broader markets inhale.
As the week unfolds, we maintain a meticulous clock. Several eras often rebound fast in this landscape.
Below is a complete breakdown of all transactions tracked today, with a company overview, investor context and details of key funding.
NeuralInk raises $650 million Series E of Brain Computer Interface
NeuralInk, a brain-computer interface startup founded by Elon Musk, has secured $650 million in Series E funding round to advance implantable brain chips technology. The California-based company is developing implantable neural devices aimed at restoring independence to people with paralysis. Human clinical trials have already begun for brain implants.
The round included investors such as ARK Invest, DFJ Growth, Founders Fund, Sequoia Capital and Thrive Capital. This funding will help expand Neuralink clinical trials and expand brain implant development device.
Funding details:
Startup: NeuralInk
Investors: Ark Invest (LEAD), DFJ Growth, Founders Fund, Sequoia Capital, Thrive Capital, Valor Equity Partners, Vy Capital, etc.
Amount raised: $650 million
Total rise: Not disclosed
Funding Stage: Series e
Funding date: June 2, 2025
Spense raises $1.855 billion seeds for programmable banks
Spense, a Bengaluru-based fintech startup, has secured $1.85 million in its pre-seed funding round to expand its programmable bank Infrastructure. The company offers the latest banking tools that enable financial institutions to launch products such as secure credit cards, prepaid cards, and forex programs.
Growth Cap Ventures led the round with participation from prominent angel investors including Kunarshah (founder of Kred), Sayan Deb Banerjee (co-founder of a mathematics company), Suresh Rayasam (Microsoft AI Lead) and Ravis Dakar (Microsoft AI Strategy). The new funds will be installed in more banks and fintech partners and will be used to expand Spense’s technology stack and product offering beyond credit cards.
Funding details:
Startup: Spense
Investors: Growth Cap Venture (Leader), plus Kunarshah, Sayan Dev Banerjee, Sureshrayasam, Ravis Dakar (and others)
Amount raised: $1.85 million
Total rise: Not disclosed
Funding stage: Before seed
Funding date: June 2, 2025
Udaan raises a $114 million Series G for e-commerce expansion
Udaan, an India-based B2B e-commerce platform, has closed its $114 million Series G funding round to expand its product categories and customer base. The Bengaluru-based company serves small and medium-sized businesses by providing products and financing. The round was led by M&G Investments and Lightspeed Venture Partners. Revenues will help UDAAN strengthen its presence in the rapidly moving consumer goods (FMCG) and hospitality (Horeca) sector, increase private label products, and improve its balance sheet ahead of potential IPOs.
Funding details:
Startup: udaan
Investors: M&G Investments (LEAD), LightSpeed Venture Partners and other existing supporters
Amount raised: $114 million
Total rise: Not disclosed
Funding stage: Series g
Funding date: June 2, 2025
Applied Computing raises £9 million seeds for energy AI
Applied Computing, a UK-based AI startup, has raised £9.0 million (approximately €10.7 million) in a seed funding round led by Stride.VC. The London-set company is building a flagship product trajectory that uses AI Foundation models for the oil, gas and petrochemical industries, particularly multimodal AI to optimize refineries and energy operations.
Repeat.vc also participated in the round. This capital will be used to accelerate the development of the orbital platform and expand the company’s industrial AI solutions.
Funding details:
Startup: Applied Computing
Investors: Stride.vc (LEAD), Repeat.vc
Amount raised: 9.0 million pounds (~$11.7 million)
Total rise: Not disclosed
Funding Stage: Seed
Funding date: June 2, 2025
Mubi raises $100 million for streaming service growth from Sequoia
Mbi, a London-based streaming platform for independent arthouse films, has raised $100 million in a new funding round led by Sequoia Capital. Fresh Capital will fuel Mbi’s efforts to grow its curated catalogue and expand its global footprint as a premium destination for cinemas.
Salary increases follow a wave of company momentum, including award season talk around substances. Once a niche platform, Mbi is now quietly transforming into one of Indie Cinema’s most compelling success stories.
Founded in 2007 by Turkish entrepreneur Efekacarel by former investment banker Mbi, Mbi started as a solution to personal frustration. That moment led to the creation of a platform focused on making international films more accessible.
Fast forward today: Mbi currently boasts over 20 million registered users worldwide. Its signature feature, “Movie of the Day,” adds one new title every day, each available for 30 days. The rotating catalog helped create a loyal user base and a sense of discovery-driven engagement that is rare in the streaming space.
It is not only the taste that makes Mobi stand out, but its business model. The company has built a hybrid strategy that pairs streaming with theatrical distribution. Mbi has released titles from cinemas in the US, UK, Canada, Germany, Latin America and today Italy, making a presence both online and on the big screen.
Funding details:
Startup: Mbi
Investor: Sequoia Capital (Led)
Amount raised: $100 million
Total rise: Not disclosed
Funding stage: Growth (stock funds)
Funding date: June 2, 2025
Funding Summary Table
Startup investors (leads and well-known investors) fundraising dates in the fundraising stage Neuralink Ark Invest; DFJ Growth; Founders Fund. Sequoia Capital; Prosperity of the Capital; Courage EQ; Vy Capital $650 million – Series E June 2, 2025 Spense GrowthCap Ventures. Kunal Shah; Sayandeb Banerjee; Suresh Rayasam; Ravi Sudhakar $185 million – June 2, 2025 Udaan M&G Investments; Lightspeed Venture Partners $114 million – Series G June 2, 2025 Applied Computing Stride.vc; Repeat.vc£9.0 million – Seed June 2, 2025 Mbi Sequoia Capital $100 million – Growth
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