Top Startup and Tech Funding News – May 28, 2025

Cerby Raises $40M Series B for Identity Security Automation

Cerby, an identity security automation platform for protecting disconnected applications, has raised $40 million in a Series B funding round to expand its autonomous identity management capabilities. The funding was led by venture firm DTCP, with participation from Okta Ventures, Salesforce Ventures, Two Sigma Ventures, Ridge Ventures, and Bowery Capital.

The San Francisco-based startup will use the new capital to broaden its Cerby Application Network, add agentic AI features, extend its solution suite, and accelerate go-to-market efforts globally. Cerby’s platform automates credential, authentication, lifecycle, and privileged access workflows across more than 2,000 apps, filling gaps left by traditional identity tools.

Funding Details:
Startup: Cerby
Investors: DTCP (lead), Okta Ventures, Salesforce Ventures, Two Sigma Ventures, Ridge Ventures, Bowery Capital
Amount Raised: $40M
Total Raised: Not disclosed
Funding Stage: Series B
Funding Date: May 28, 2025

Chalk Raises $50M Series A for Real-Time AI Inference Infrastructure

Chalk, an AI infrastructure startup focused on real-time data processing, has raised $50 million in a Series A round at a $500 million valuation. The round was led by Felicis Ventures, with participation from Triatomic Capital and existing backers General Catalyst, Unusual Ventures, and Xfund.

Chalk will use the funding to accelerate the development of its compute framework for instantaneous, AI-driven decision-making. Chalk’s platform allows enterprises to feed fresh data into AI models on demand (for example, fraud detection and loan decisioning in fintech, or optimizing solar panel placement in energy). By shifting focus to real-time AI inference, Chalk helps companies deploy machine learning models that respond immediately to new information, differentiating it from batch-oriented data tools.

Funding Details:
Startup: Chalk
Investors: Felicis (lead), Triatomic Capital, General Catalyst, Unusual Ventures, Xfund
Amount Raised: $50M
Total Raised: $50M
Funding Stage: Series A
Funding Date: May 28, 2025

Conduit Raises $36M Series A to Expand Stablecoin Payments

Conduit, a fintech startup offering blockchain-based cross-border payment infrastructure, has raised $36 million in a Series A round co-led by Dragonfly Capital and Altos Ventures. The Miami-based company will use the capital to scale its real-time global payment network powered by stablecoins, accelerating adoption across Latin America, Africa, and Asia. Conduit’s platform enables businesses and banks to send instant, low-cost payments between countries via stablecoins, bridging fragmented rails in traditional finance. With $10 billion in annualized transaction volume and support for 14 currencies, Conduit plans to launch in five new countries, expand its local fiat and stablecoin offerings, and bolster its engineering and support teams to meet growing demand.

Funding Details:
Startup: Conduit
Investors: Dragonfly (co-lead), Altos Ventures (co-lead), Sound Ventures, Commerce Ventures, Digital Currency Group (DCG), Circle Ventures, Helios Capital, Portage Ventures
Amount Raised: $36M
Total Raised: $53M (after this round)
Funding Stage: Series A
Funding Date: May 28, 2025

Rillet Raises $25M Series A to Automate Mid-Market Accounting

Rillet, an AI-powered enterprise resource planning (ERP) platform, has raised $25 million in a Series A round led by Sequoia Capital. The New York–based startup uses machine learning to rebuild the general ledger and automate accounting workflows for mid-market companies. Rillet’s software integrates directly with modern financial apps (Salesforce, Stripe, Ramp, Brex, Rippling, etc.) and uses AI agents to accelerate tasks like accruals, reconciliations, and reporting.

This funding, which follows an earlier $13.5 million seed round, will help Rillet further develop its AI accounting suite and expand its customer base. By enabling finance teams to close their books in hours rather than weeks, Rillet aims to replace legacy systems like NetSuite with a real-time, cloud-native solution tailored for the AI era.

Funding Details:
Startup: Rillet
Investors: Sequoia Capital (lead), First Round Capital, Creandum, Susa Ventures, angel investors including former NetSuite and Twilio executives
Amount Raised: $25M
Total Raised: $38.5M (after this round)
Funding Stage: Series A
Funding Date: May 28, 2025

Horizon3.ai Raises $100M Round to Enhance Cybersecurity Automation

Horizon3.ai, a cybersecurity startup specializing in AI-driven penetration testing, is raising a $100 million funding round and has secured at least $73 million so far. The San Francisco–based company, led by CEO Snehal Antani (ex-Splunk CTO), has NEA (New Enterprise Associates) as the lead investor and is reportedly valued at above $750 million.

Horizon3.ai provides autonomous threat detection tools that simulate cyber attacks to uncover vulnerabilities. The new capital will be used to expand its platform, accelerate R&D, and support its recent growth (the company saw 101% year-over-year revenue growth this quarter). Horizon3.ai’s investors view its automated approach as critical for defending enterprises against increasingly sophisticated, AI-powered cyber threats.

Funding Details:
Startup: Horizon3.ai
Investors: NEA (New Enterprise Associates, lead), plus undisclosed investors
Amount Raised: $100M (target round)
Total Raised: N/A (at least $73M in this round; ~$78.5M prior)
Funding Stage: Series D (not explicitly disclosed)
Funding Date: May 28, 2025

Neuralink Raises $600M for Brain-Computer Interface Development

Neuralink, Elon Musk’s brain-computer interface company, has raised $600 million in a funding round, valuing the startup at about $9 billion pre-money. This funding, reported by the media on May 28, was led by unnamed investors. Neuralink develops implantable neural devices to enable people to control computers and other devices with thought.

The company recently received FDA breakthrough device designation and has implanted devices in three patients so far. Neuralink plans to use the fresh capital infusion to accelerate research and clinical testing of its brain-chip interfaces. The round underscores growing investor interest in advanced neurotechnology as Neuralink moves toward human trials of its robotics-assisted implant technology.

Funding Details:
Startup: Neuralink
Investors: Unspecified (private round)
Amount Raised: $600M
Total Raised: $600M (this round)
Funding Stage: (undisclosed)
Funding Date: May 28, 2025

PorTal Access Raises $7M Series A for Novel Chemo Port

PorTal Access, a Miami-based medical device startup, has raised $7 million in a Series A financing round. The company, founded by Dr. Michael Tal, is developing the Flexi-Port SLF-TANL, a next-generation subcutaneous port for chemotherapy and infusion therapy. The new funding will support regulatory and commercialization activities, including preparation of a 510(k) submission to the U.S. Food and Drug Administration. PorTal Access aims to simplify venous access for cancer patients by enabling safe, bedside placement of the port without surgery. By reducing complications and costs associated with traditional chemo ports, the Flexi-Port system is designed to improve patient experience and operational efficiency in cancer care.

Funding Details:
Startup: PorTal Access
Investors: Undisclosed (no lead investor named)
Amount Raised: $7M
Total Raised: $7M
Funding Stage: Series A
Funding Date: May 28, 2025

Orbitt Space Raises $1M Pre-Seed for Electric Satellite Propulsion

Orbitt Space, a space-tech startup based in Ahmedabad, India, has raised $1 million in a pre-seed funding round led by Pi Ventures, with participation from IIMA Ventures. Orbitt is developing an air-breathing electric propulsion system and satellite bus platform for ultra-low Earth orbit (ULEO, below 250 km altitude). The new capital will be used to accelerate the design and development of its electric propulsion thruster and avionics, build its engineering team, and begin testing of a prototype to validate the technology. By utilizing atmospheric gases as propellant, Orbitt’s thruster could enable longer-duration missions in ULEO, a previously hard-to-reach zone due to high drag. Orbitt plans to eventually launch ULEO satellites with its propulsion system for applications like earth observation, low-latency communications, and climate monitoring.

Funding Details:
Startup: Orbitt Space
Investors: Pi Ventures (lead), IIMA Ventures
Amount Raised: $1M
Total Raised: $1M
Funding Stage: Pre-Seed
Funding Date: May 28, 2025

AssistIQ Raises $11.5M Series A to Optimize Hospital Supply Management

AssistIQ, a Montreal-based healthtech startup, has closed an $11.5 million Series A round led by Battery Ventures, with participation from return investor Tamarind Hill. AssistIQ provides an AI-powered platform for hospitals to manage and track medical supplies and equipment. Its software uses sensors and analytics to monitor the use of items like surgical tools and disposables, helping healthcare facilities reduce costs and prevent supply shortages.

The new funding will help AssistIQ expand its platform’s deployment (it is already partnering with several U.S. health systems) and accelerate product development. With more efficient inventory management, hospitals can save time and money while ensuring critical supplies are always available where needed.

Funding Details:
Startup: AssistIQ
Investors: Battery Ventures (lead), Tamarind Hill
Amount Raised: $11.5M
Total Raised: $14M (after this round, including prior $2.5M seed)
Funding Stage: Series A
Funding Date: May 28, 2025

ProteinQure Raises $11M Series A for AI-Designed Peptide Drugs

ProteinQure, a Toronto-based biotech startup, has raised $11 million in a Series A financing led by Heron Rock Fund (Tom Williams) with participation from Golden Ventures and Kensington Capital. ProteinQure uses AI and statistical modeling to design peptide-based therapeutics targeting cancer and rare diseases.

The new funding will enable the company to advance its lead drug candidate into clinical trials; ProteinQure plans to begin a first-in-human trial for a novel cancer therapy in late 2025. Its AI engine is focused on discovering peptides (short protein-like molecules) that can target disease mechanisms. The round brings ProteinQure’s total funding to about $16 million, including earlier seed financing, positioning it as one of Canada’s early entrants in AI-driven drug discovery.

Funding Details:
Startup: ProteinQure
Investors: Heron Rock Fund (lead), Golden Ventures, Kensington Capital
Amount Raised: $11M
Total Raised: $16M (after this round)
Funding Stage: Series A
Funding Date: May 28, 2025

Hormona Raises $6.7M Seed for Women’s Hormone Health Platform

Hormona, a digital health startup based in London and Stockholm, has raised $6.7 million in a seed funding round led by Voima Ventures with co-investment from Supernode Global VC. Hormona provides personalized solutions for women’s hormonal health. Its offerings include a menstrual cycle tracking app and an upcoming platform for perimenopause, as well as a forthcoming at-home hormone testing device to measure estrogen levels. The new capital will be used to launch the at-home test, broaden Hormona’s suite of digital health tools, and expand internationally. The funding will also support scientific research and clinical validation to enhance the accuracy and accessibility of Hormona’s AI-driven hormone monitoring and prediction algorithms.

Funding Details:
Startup: Hormona
Investors: Voima Ventures (lead), Supernode Global VC, DLF Ventures, Nascent Invest, Techstars
Amount Raised: $6.7M
Total Raised: $6.7M
Funding Stage: Seed
Funding Date: May 28, 2025

Applied Computing Raises $11M Seed to Apply AI in Energy Industry

Applied Computing, a British AI startup, has raised €10.7 million (about $11 million) in a seed round led by Stride.VC, with participation from Repeat.vc. The London-based company is building advanced “foundation models” for the oil, gas, and petrochemical industries. Its flagship product, Orbital, combines language, physics, and engineering AI models to optimize operations at refineries and petrochemical plants.

Orbital can process 100% of facility data (versus 8% with legacy tools) and is already deployed at scale in heavy industry settings, reportedly cutting operational costs and emissions significantly. The new funding will be used to grow the team and further develop Orbital, with the goal of making existing energy infrastructure more efficient, safe, and climate-aligned. Applied Computing plans to use AI to drive digital transformation in critical energy sectors, improving margins and reducing environmental impact.

Funding Details:
Startup: Applied Computing
Investors: Stride.VC (lead), Repeat.vc
Amount Raised: ~$11M (€10.7M)
Total Raised: $11M
Funding Stage: Seed
Funding Date: May 28, 2025

Context Raises $11M Seed for AI-Powered Office Suite

Context, an AI-first productivity software startup, has raised $11 million in a seed funding round led by Lux Capital. The Palo Alto–based company is developing a secure, local-first office suite that uses generative AI and long-context reasoning to automate document, presentation, and spreadsheet creation.

Context’s platform allows users to upload notes and data and describe their goals, and the AI generates near-final reports, slides, or data analyses in seconds. The seed funding will support Context’s product launch and team growth. By integrating advanced AI with on-premises security, Context aims to help enterprises and agencies rapidly produce high-quality content while keeping sensitive information private.

Funding Details:
Startup: Context
Investors: Lux Capital (lead), Qualcomm Ventures, General Catalyst, and others
Amount Raised: $11M
Total Raised: $11M
Funding Stage: Seed
Funding Date: May 28, 2025

Funding Summary Table