Top 10 Startup and Tech Funding News – June 5, 2025

Shield Technology Partners, a New York City–based AI-enabled managed IT service platform, raised an initial funding of over $100 million. The round was led by founding investors Thrive Holdings and ZBS Partners. Shield will use the proceeds to expand its U.S. network of IT service providers and bring enterprise-scale technology and expertise to local businesses.

Funding Details:
Startup: Shield Technology Partners
Investors: Thrive Holdings (lead), ZBS Partners
Amount Raised: $100M+
Total Raised: $100M+ (initial round)
Funding Stage: Initial funding (Seed)
Funding Date: June 5, 2025

bolttech, a Singapore-based global insurtech distribution platform, closed a $147 million Series C round at a $2.1 billion valuation. The financing brought in strategic investors Sumitomo Corporation and Iberis Capital, joining existing backers (Dragon Fund, Baillie Gifford, Generali’s Lion River, etc.). bolttech will use the new capital to enhance its technology platform and accelerate international expansion in property and casualty insurance distribution.

Funding Details:
Startup: bolttech
Investors: Sumitomo Corporation (strategic lead), Iberis Capital (strategic), Dragon Fund, Baillie Gifford, Lion River (and others)
Amount Raised: $147 million
Total Raised: $147 million
Funding Stage: Series C
Funding Date: June 5, 2025

Signify Bio, a Dallas, TX–based biotech harnessing the human body to produce therapeutic proteins, raised $15 million in its initial financing. The round was led by Actium Group, with participation from the Gates Foundation Strategic Investment Fund, Danaher Ventures, Eli Lilly and Company, and BrightEdge (the American Cancer Society’s VC arm). Signify Bio will use the funds to advance R&D and manufacturing for its in situ protein therapeutic platform.

Funding Details:
Startup: Signify Bio
Investors: Actium Group (lead), Gates Foundation Strategic Investment Fund, Danaher Ventures, Eli Lilly, BrightEdge
Amount Raised: $15 million
Total Raised: $15 million (initial round)
Funding Stage: Initial financing
Funding Date: June 5, 2025

QureBio (Qure Biotechnology), a Shanghai-based biopharma developing bispecific and multispecific antibody therapeutics, secured nearly CNY 100 million (about $14 million) in Series C1 funding. The round was led by Efung Capital. QureBio will use the investment to accelerate its clinical trials and advance its pipeline of next-generation antibody drugs for oncology, autoimmune, and inflammatory diseases.

Funding Details:
Startup: QureBio (Qure Biotechnology)
Investors: Efung Capital (lead)
Amount Raised: CNY 100 million ($14 million)
Total Raised: CNY 100 million ($14 million)
Funding Stage: Series C1
Funding Date: June 5, 2025

Cosm Medical, a Toronto-based medical device company, raised an undisclosed Seed+ funding round on June 5, 2025. The round was led by iGan Partners, with participation from Spring Impact Capital and various angel investors. Cosm Medical will apply the funds to advance the development of its novel acoustic-assisted surgical device designed to improve performance in regional anesthesia.

Funding Details:
Startup: Cosm Medical
Investors: iGan Partners (lead), Spring Impact Capital, Angel investors
Amount Raised: Undisclosed
Total Raised: Undisclosed
Funding Stage: Seed (Seed+)
Funding Date: June 5, 2025

Flank, a Berlin-based startup building autonomous AI agents for corporate legal teams, announced a $10 million funding round, bringing its total raised to $18 million. The round was led by Insight Partners and included participation from Gradient Ventures, HV Capital, and 10x Founders. Flank will use the capital to continue product development, expand its engineering and commercial teams, and deepen partnerships with enterprise customers.

Funding Details:
Startup: Flank
Investors: Insight Partners (lead), Gradient Ventures, HV Capital, 10x Founders
Amount Raised: $10 million
Total Raised: $18 million
Funding Stage: (likely Series A)
Funding Date: June 5, 2025

Thread AI, a New York–based enterprise AI software startup, raised $20 million in a Series A round. The financing was led by Greycroft, with participation from Index Ventures, Scale Venture Partners, Meritech Capital, and Homebrew. Thread AI will use the funds to expand its Lemma platform, which allows enterprises to design, deploy, and manage custom AI-driven workflows and agents.

Funding Details:
Startup: Thread AI
Investors: Greycroft (lead), Index Ventures, Scale Venture Partners, Meritech Capital, Homebrew
Amount Raised: $20 million
Total Raised: $20 million
Funding Stage: Series A
Funding Date: June 5, 2025

Nectar Social, a Seattle, WA–based startup offering an AI-driven social commerce platform, raised $10.6 million across pre-seed and seed rounds. The rounds were co-led by True Ventures and GV (Google Ventures), with participation from Trust Fund (by Sophia Amoruso), BAM Ventures, Mercury Fund, Charge Ventures, Flying Fish Ventures, XRC Ventures, and FAB Ventures. Nectar Social will use the funding to scale its platform for brands to monetize user-generated content and influencer networks.

Funding Details:
Startup: Nectar Social
Investors: True Ventures (lead), GV/Google Ventures (lead), Trust Fund, BAM Ventures, Mercury Fund, Charge Ventures, Flying Fish Ventures, XRC Ventures, FAB Ventures
Amount Raised: $10.6 million
Total Raised: $10.6 million
Funding Stage: Pre-Seed and Seed
Funding Date: June 5, 2025

Crabi, a Mexico City–based digital car insurance platform, raised $13.6 million in venture funding. The round was led by Kaszek and IGNIA, with participation from 30N Ventures, Redwood Ventures, Carao Ventures, Azuro Capital, Newtopia VC, and other investors. Crabi will use the proceeds to onboard more distribution partners and invest in its AI-driven underwriting and operations platform for the Mexican auto insurance market.

Funding Details:
Startup: Crabi
Investors: Kaszek (lead), IGNIA (lead), 30N Ventures, Redwood Ventures, Carao Ventures, Azuro Capital, Newtopia VC
Amount Raised: $13.6 million
Total Raised: $13.6 million
Funding Stage: Series A (implied)
Funding Date: June 5, 2025

Snorkel AI, a Redwood City, CA–based AI software startup, raised $100 million in a Series D round at a $1.3 billion valuation. The round was led by Addition, with participation from Prosperity7 Ventures, Greylock Partners, Lightspeed Venture Partners, and strategic investors BNY Ventures and QBE Ventures. Snorkel AI will use the funding to advance its platform for programmatic AI data development and launch new products (Snorkel Evaluate and Expert Data-as-a-Service).

Funding Details:
Startup: Snorkel AI
Investors: Addition (lead), Prosperity7 Ventures, Greylock Partners, Lightspeed Ventures, BNY Ventures, QBE Ventures
Amount Raised: $100 million
Total Raised: (prior undisclosed)
Funding Stage: Series D
Funding Date: June 5, 2025

Anduril Industries, a U.S. defense technology company, raised $2.5 billion in its latest funding round. The Series G round was led by Founders Fund (where co-founder Trae Stephens is a partner), with all other existing investors increasing their commitments. This financing more than doubled Anduril’s valuation to $30.5 billion and follows a $1.5B round last year. Since its 2017 founding, Anduril has raised over $6 billion in funding. The new capital will support the expansion of its autonomous drone and sensor platforms for defense applications.

Funding Details:
Startup: Anduril Industries
Investors: Founders Fund (lead); existing investors (all re-invested)
Amount Raised: $2.5 billion
Total Raised: Over $6 billion (per Crunchbase)
Funding Stage: Series G
Funding Date: June 5, 2025

Allay Therapeutics, a San Jose (with R&D in Singapore) biotech developing ultra-sustained analgesics, announced a $57.5 million Series D financing (plus venture debt). The round was co-led by ClavystBio and included NEA, Arboretum Ventures, Vertex Growth, Vertex Ventures Healthcare, and Brandon Capital. New investors IPD Capital, EDBI, and SGInnovate also joined the round. Allay will use the proceeds to advance its lead product ATX101 in clinical trials for post-surgical pain relief.

Funding Details:
Startup: Allay Therapeutics
Investors: ClavystBio (lead), NEA, Arboretum Ventures, Vertex Growth, Vertex Ventures Healthcare, Brandon Capital, IPD Capital, EDBI, SGInnovate
Amount Raised: $57.5 million
Total Raised: (prior undisclosed)
Funding Stage: Series D (+ venture debt)
Funding Date: June 5, 2025

OBT Live, a Liverpool-based AI customer engagement platform, raised €2.6 million in a Series A round. The round was led by NPIF II – Praetura Equity Finance (via the UK Northern Powerhouse Investment Fund). OBT Live will use the investment to expand its UK team and enhance its real-time AI analytics platform for media, sports, and retail brands.

Funding Details:
Startup: OBT Live
Investors: NPIF II – Praetura Equity Finance (lead)
Amount Raised: €2.6 million
Total Raised: €2.6 million
Funding Stage: Series A
Funding Date: June 5, 2025