Top tech startup funding news for today, May 20, 2025

It’s Tuesday, May 20, 2025, and the funding firehose is wide open. We’re back with your daily rundown of the boldest bets and biggest checks fueling the future of tech.

Today’s lineup features a wave of innovation across fintech, AI, infrastructure, and climate tech, proving that capital is still flowing toward bold bets on the future.

Leading the charge is Gravitee, which secured $60 million to expand its API management platform for enterprises navigating complex cloud environments. Right behind it is Blues, which landed $25 million from Sequoia to simplify IoT connectivity across industries. Meanwhile, Affiniti, led by Gen Z founders, raised $17 million to bring modern fintech tools to traditional small businesses.

The momentum didn’t stop there. SparkCharge pulled in $30 million to expand its mobile EV charging service, while Tailor and Keep banked fresh capital to reimagine ERP and business banking, respectively. On the AI infrastructure front, Catena Labs emerged from stealth with $18 million to build financial rails for AI agents, and Meibel closed $7 million to help enterprises deploy AI safely in production.

From pre-seed rounds to growth capital, and from New York to Tokyo, today’s deals highlight the breadth of problems founders are solving—and the global investor appetite backing them.

Here’s who raised, how much, and what they’re building.

Affiniti Raises $17M Series A for SMB Expense-Management Fintech

Affiniti, a fintech startup founded by 20-year-old Aaron Bai and 22-year-old Sahil Phadnis, secured a $17 million Series A just six months after closing an $11 million seed round. The round was led by SignalFire, reflecting the rapid growth of Affiniti’s customizable expense-management credit card and software for “Main Street” businesses. Affiniti offers mom-and-pop shops (like pharmacies, auto dealers, and HVAC companies) the kind of spend-management tools that tech firms Brex and Ramp brought to startups, but with an AI-powered twist to provide analytics and financial advice for businesses without dedicated finance teams. The fresh cash will help Affiniti launch new features (such as integrated banking, bill pay, and cash-flow analytics) and scale up its platform, as the company aims to deliver what it calls “v3 of fintech” to underserved small businesses.

Funding Details:

Startup: Affiniti

Investors: SignalFire (lead); other notable backers include Contrarian Thinking (Codie Sanchez’s fund), Truebill co-founder Yahya Mokhtarzada, and Morning Brew co-founder Austin Rief. (Seed investors Indicator Ventures, LightShed, and RiverPark also joined.)

Amount Raised: $17 million

Total Raised: ~$28 million (including prior $11M seed)

Funding Stage: Series A

Funding Date: May 20, 2025

Keep Raises $12M Series A1 for Canadian SMB Finance Platform

Keep, a Toronto-based fintech platform for small businesses, announced $12 million in new funding as an extension of its Series A (dubbed “Series A1”). The equity round – part of a broader $23 million in funding unveiled alongside a credit facility – was led by Tribe Capital, with participation from Rebel Fund, Liquid 2 Ventures, Cambrian Ventures, and Assurant Ventures. Keep’s platform serves as a financial “mission control” center for Canadian SMBs, offering multi-currency business accounts, corporate cards, automated expense management, and integrations with accounting software.

Founded by Oliver Takach (a two-time Y Combinator alum) and Helson Taveras, Keep launched its corporate credit card in 2023 and has since grown revenue 20×, prompting a fivefold valuation increase. With the new infusion, Keep plans to introduce a banking product and continue expanding its spend-management tools, helping more businesses “bank like a local” and manage finances across borders.

Funding Details:

Startup: Keep

Investors: Tribe Capital (lead); Rebel Fund, Liquid 2 Ventures, Cambrian, Assurant Ventures; plus angel investors including Dropbox co-founder Arash Ferdowsi and Webflow CEO Vlad Magdalin.

Amount Raised: $12 million (Series A1 equity)

Total Raised: ~$23 million (equity funding to date)

Funding Stage: Series A1

Funding Date: May 20, 2025

SparkCharge Raises $30M for Fleet EV Charging Service

SparkCharge, the Massachusetts-based EV charging startup, has raised $15.5 million in a Series A-1 round led by Monte’s Fam, with backing from Cleveland Avenue, Collab Capital, Elemental Impact, Marcy Venture Partners, and Non Sibi Ventures, according to an exclusive report from TechCrunch.

In addition to the equity raise, SparkCharge also locked in a $15 million venture loan from Horizon Technology Finance Corporation to support its continued growth.

SparkCharge’s novel “charging-as-a-service” model lets companies buy electric vehicles first and rely on SparkCharge to handle the charging, deploying mobile charging units to customer sites on a pay-per-kilowatt basis. This approach removes the need for fleets to invest in permanent charging infrastructure, solving a chicken-and-egg problem for fleet electrification. SparkCharge, which has expanded to all 50 U.S. states as well as Canada and Mexico, will use the funding to scale up operations and meet growing demand from fleet operators. (In addition to the equity round, the company secured a $15 million venture loan to support its growth, though only the equity funding is detailed here.)

Funding Details:

Startup: SparkCharge

Investors: Monte’s Fam (lead); Cleveland Avenue, Collab Capital, Elemental Impact, Marcy Venture Partners, Non Sibi Ventures

Amount Raised: $15.5 million

Total Raised: Not disclosed (plus additional debt financing)

Funding Stage: Series A-1

Funding Date: May 20, 2025

Gravitee Raises $60M Series C for API Management Platform

Gravitee, a platform that helps enterprises manage their APIs and event streams, raised $60 million in Series C funding led by Sixth Street Growth. The round, which included Riverside Acceleration Capital and Albion VC, brings Gravitee’s total funding to just over $125 million to date. Gravitee’s open-source API management solution provides companies with a “control plane” to govern all their APIs and asynchronous data feeds, helping prevent blind spots in complex, hybrid cloud environments. CEO Rory Blundell said the new capital will be used to develop new product features and fuel expansion into new markets.

Founded in France in 2015 (and now with headquarters in Denver, CO), Gravitee has grown to hundreds of enterprise customers – including names like Michelin and Roche – and reported $22 million in ARR in 2024. With this Series C, Gravitee is poised to scale its team (130+ employees) to meet rising demand and stay ahead of competitors in the API management space.

Funding Details:

Startup: Gravitee

Investors: Sixth Street Growth (lead); Riverside Acceleration Capital; Albion VC

Amount Raised: $60 million

Total Raised: ~$125 million

Funding Stage: Series C

Funding Date: May 20, 2025

Tailor Raises $14M Series A (First Close) for Composable ERP

Tailor, a headless ERP (enterprise resource planning) startup, has raised $14 million in the first close of its Series A to modernize business software. The investment was led by ANRI, one of Japan’s leading early-stage VCs, with participation from Spiral Capital. Tailor’s platform offers a composable alternative to monolithic ERP systems: companies can integrate best-of-breed applications via APIs to create a flexible, modular system tailored to their needs.

By separating back-end logic from the user interface, Tailor allows enterprises to quickly customize workflows and adapt as their business evolves – a stark contrast to the 18-month rollout cycles of legacy ERPs. This funding will help Tailor expand its go-to-market in North America while continuing product development and customer success efforts in Japan. Already, the startup has gained traction with mid-market and enterprise customers in both the U.S. and Japan, and it ultimately plans to raise a total of $30–$40 million for the full Series A to further scale its “ERP as a platform” solution.

Funding Details:

Startup: Tailor

Investors: ANRI (lead); Spiral Capital

Amount Raised: $14 million (Series A first close)

Total Raised: Not disclosed (additional Series A investment anticipated)

Funding Stage: Series A (first close)

Funding Date: May 20, 2025

Seeds Raises $10M Series A for Advisor-Focused Fintech

Seeds, a New York-based fintech startup, raised $10 million in Series A funding to help financial advisors personalize the investing experience for clients. The round was led by Portage Ventures, bringing Seeds’ total funding to $15 million, and included participation from earlier backers Social Leverage and Blank Ventures.

Founded by father-and-son advisors Michael and Zach Conway, Seeds provides a platform for registered investment advisors to build bespoke portfolios aligned with their clients’ values and goals, while streamlining back-office operations. (The company was formerly known as Seeds Investor under Conway Wealth.) With this new capital, Seeds plans to enhance its product, including tools that incorporate client values into financial planning, and to grow its team. The goal is to deepen advisor-client relationships using tech that replaces legacy systems and fosters more meaningful conversations around clients’ priorities.

Funding Details:

Startup: Seeds

Investors: Portage (lead); Social Leverage, Blank Ventures

Amount Raised: $10 million

Total Raised: $15 million

Funding Stage: Series A

Funding Date: May 20, 2025

Blues Raises $25M to Scale IoT Connectivity Solutions

Blues, a Boston, MA-based provider of plug-and-play IoT connectivity solutions, raised $25 million in new funding led by Sequoia Capital. Blues (also known as Blues Wireless) offers a hardware and cloud platform that supports all major wireless standards – 2G/3G/4G/5G cellular, Wi-Fi, LoRa, and even satellite – through one simple API. Its flagship product, the Notecard, lets developers securely connect any physical device to the internet and cloud, enabling real-time monitoring and new services for connected products.

With customers across transportation, healthcare, energy, and logistics in North America and Europe, Blues’ technology simplifies IoT deployments by handling connectivity, security, and data routing out of the box. The company will use the funds to support its growth and accelerate product innovation, as it continues to help enterprises unlock new revenue streams and improve customer experiences via connected devices.

Funding Details:

Startup: Blues

Investors: Sequoia Capital (lead)

Amount Raised: $25 million

Total Raised: Not disclosed

Funding Stage: Not disclosed (Growth funding round)

Funding Date: May 20, 2025

Catena Labs Raises $18M for AI-Focused Financial Infrastructure

Catena Labs, a Boston-based fintech building AI-native financial infrastructure, emerged from stealth with $18 million in funding from an impressive list of backers. The round’s investors include Breyer Capital, Circle Ventures, Coinbase Ventures, CoinFund, Pillar VC, Stanford Engineering Venture Fund, and notable angels such as former NFL star Tom Brady and ex-Coinbase CTO Balaji Srinivasan.

Led by CEO Sean Neville (co-founder of Circle) and CTO Matt Venables, Catena Labs is developing the protocols and services needed to enable autonomous AI agents, businesses, and consumers to safely transact in an AI-driven economy. For example, Catena is working on new solutions for digital identity, payments, and compliance tailored to AI “agents” acting as economic actors. The company just released an open-source Agent Commerce Kit (ACK) to kickstart developers on these building blocks. The fresh funds will accelerate Catena’s product development and help it navigate emerging standards, as it aims to offer a full suite of secure financial services for AI-powered systems.

Funding Details:

Startup: Catena Labs

Investors: Breyer Capital, Circle Ventures, Coinbase Ventures, CoinFund, Pillar VC, Stanford Engineering VF, plus angels like Tom Brady and Balaji Srinivasan

Amount Raised: $18 million

Total Raised: Not disclosed

Funding Stage: Seed/early-stage (exact stage not specified)

Funding Date: May 20, 2025

Blooms Raises $2.6M Seed Round for AI-Powered Trade Finance

Blooms, a fintech startup headquartered in Wilmington, Delaware, raised a $2.6 million seed round to modernize trade finance for agricultural exporters. The seed funding was led by SP Ventures (a VC firm active in Latin America) with participation from Angel Ventures, The Yield Lab Latam, Eqwow Ventures, Glocal, and Mercy Corps Ventures.

Blooms specializes in AI-driven trade finance, payments, and foreign exchange solutions for Latin American produce exporters selling into the U.S. and Canadian markets. By leveraging AI, the platform can rapidly underwrite working capital loans for growers and exporters, simplify cross-border transactions, and provide tailored FX hedging, addressing pain points in the global produce supply chain. The new capital will enable Blooms to expand its operations and development efforts, as it looks to scale up and help more exporters secure faster financing and smoother payments for their goods.

Funding Details:

Startup: Blooms

Investors: SP Ventures (lead); Angel Ventures; The Yield Lab Latam; Eqwow Ventures; Glocal Managers; Mercy Corps Ventures

Amount Raised: $2.6 million

Total Raised: Not disclosed

Funding Stage: Seed

Funding Date: May 20, 2025

Moddule Raises $1.5M Pre-Seed for Unified Logistics Platform

Moddule, a Seattle-based logistics tech startup, raised $1.5 million in pre-seed funding to unify disparate logistics management systems into one platform. The round was led by Argon Ventures, with participation from Signal Ventures, Motion Ventures, Incisive Ventures, R7 Ventures, and Companyon Ventures. Moddule’s software acts as a single control center for logistics service providers, integrating their internal systems and third-party tools into one dashboard.

With Moddule, freight and delivery companies can track shipments in real time across carriers, manage e-commerce orders from any source, and consolidate global inventory in a single interface. Co-founded in 2021 by Hans Elmegaard, Kasper Hansen, and Ben Jones, the startup has already seen rapid growth (6× revenue in the past year). The pre-seed funds will be used to streamline customer onboarding, add more user customization and AI-powered integrations, and grow Moddule’s customer success and sales teams to support its expanding client base.

Funding Details:

Startup: Moddule

Investors: Argon Ventures (lead); Signal Ventures; Motion Ventures; Incisive Ventures; R7 Ventures; Companyon Ventures

Amount Raised: $1.5 million

Total Raised: $1.5 million (pre-seed)

Funding Stage: Pre-Seed

Funding Date: May 20, 2025

True Markets Raises $11M Seed for DeFi Trading App

True Markets, a New York City-based startup building a non-custodial crypto trading app, raised $11 million in seed funding to bring decentralized finance to mainstream traders. The round was co-led by Accomplice and RRE Ventures, with additional backing from Reciprocal Ventures, Variant, PayPal Ventures, Paxos Ventures, and the Solana Foundation. True Markets offers a mobile trading app (launching initially on the Solana blockchain) that lets users trade digital assets with stablecoin settlement and without giving up custody of their funds.

By separating trade execution from custody, users trade tokens via the app while holding assets in their wallets. True Markets aims to provide an experience that’s as user-friendly as a traditional brokerage but with the security of DeFi. With the seed funding (which brings its total funding to $20 million), True Markets officially launched its app on the Apple App Store. The company will use the capital to support a broader range of assets (beyond Solana-based tokens) and to integrate its companion product TrueX, a high-performance exchange for added liquidity and compliance within the app.

Funding Details:

Startup: True Markets

Investors: Accomplice (co-lead); RRE Ventures (co-lead); Reciprocal Ventures; Variant Fund; PayPal Ventures; Paxos; Solana Foundation

Amount Raised: $11 million

Total Raised: $20 million

Funding Stage: Seed

Funding Date: May 20, 2025

AskElephant Raises $6M Seed Round for AI Customer Service Platform

AskElephant, a Lehi, Utah-based startup, raised $6 million in seed funding to scale its AI-driven orchestration platform for customer-facing teams. The round was led by Jump Capital, with participation from High Alpha, Tandem (Ventures), SaaS Ventures, and other existing investors. AskElephant’s platform acts as an “AI orchestrator” for support and sales teams, automating routine workflows and integrating various customer support tools so that human agents can focus on more meaningful interactions.

For example, the software can coordinate CRM updates, email follow-ups, and AI chatbot hand-offs, ensuring customers get timely responses without agents juggling multiple systems. The infusion of capital will accelerate the development of AskElephant’s AI-powered workflow engine and bolster go-to-market efforts. CEO and founder Woody Klemetson envisions the platform helping customer success teams increase efficiency and personalization, ultimately improving client relationships by letting the AI handle the busywork.

Funding Details:

Startup: AskElephant

Investors: Jump Capital (lead); High Alpha; Tandem Ventures; SaaS Ventures; (plus existing investors)

Amount Raised: $6 million

Total Raised: Not disclosed

Funding Stage: Seed

Funding Date: May 20, 2025

Meibel Raises $7M Seed for “Confident AI” Deployment Platform

Meibel, a Washington, D.C.-based startup, raised $7 million in seed funding to advance its “runtime platform for confident AI” in enterprise settings. The seed round was led by Mosaic Venture Lab (General Partnership) with participation from Array Ventures, Denver Ventures, Cofounders Capital, and Service Provider Capital. Meibel’s platform helps companies deploy AI models in production with greater transparency, control, and reliability. It provides an intelligent data ingestion pipeline, orchestration tools, confidence scoring for model outputs, and adaptive execution control to manage how AI behaves in real time.

In practice, Meibel acts as a safety layer for AI applications, integrating with popular ML frameworks (like Hugging Face or LangChain) to ensure AI systems meet the high standards required in industries such as finance, healthcare, energy, and government. The new funding will be used to expand Meibel’s product and engineering teams and to develop core features around orchestration, retrieval augmentation, and live feedback loops. By enabling “confident AI” deployments, Meibel aims to support organizations in harnessing AI while maintaining oversight, compliance, and performance in mission-critical use cases.

Funding Details:

Startup: Meibel

Investors: Mosaic GP (lead); Array Ventures; Denver Ventures; Cofounders Capital; Service Provider Capital

Amount Raised: $7 million

Total Raised: Not disclosed

Funding Stage: Seed

Funding Date: May 20, 2025

Funding Summary Table