It’s Thursday, October 23, 2025, and we’re back with the top startup and tech funding news stories shaping the global innovation landscape. From multimillion-dollar AI infrastructure rounds to autonomous mobility, clean energy, and longevity biotech, investors continue to pour capital into both late-stage giants and emerging early-stage ventures.
Today’s highlights feature Redwood Materials’ $350 million Series E to expand its U.S. battery recycling operations, Chainguard’s $280 million growth financing to secure open-source software supply chains, and Fal.ai’s $250 million round pushing multimodal AI infrastructure to a $4 billion valuation. The day also saw Uber and Nebius backing Avride’s $375 million autonomous robotaxi expansion, while ShopMy raised $70 million at a $1.5 billion valuation to redefine creator-led commerce.
In the early-stage scene, longevity startup Generation Lab secured $11 million in seed funding led by Accel, while Wonder Studios raised $12 million to blend film and technology into a new era of storytelling. On the sustainability front, Sweden’s Meva Energy landed €40 million from the European Investment Bank to decarbonize industrial manufacturing through on-site biogas plants.
Funding Highlights
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Redwood Materials raised $350 million to expand its U.S. battery recycling and energy storage infrastructure.
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Chainguard secured $280 million in non-dilutive financing to accelerate enterprise software security.
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Fal.ai closed $250 million to strengthen its multimodal AI infrastructure platform.
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Avride received $375 million from Uber and Nebius to scale its autonomous robotaxi fleet.
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ShopMy raised $70 million in Series B funding to expand its creator commerce ecosystem.
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Generation Lab raised $11 million in seed funding to advance longevity diagnostics.
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Wonder Studios secured $12 million in seed funding to merge film and tech innovation.
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Meva Energy landed €40 million (~$42M) from EIB to power zero-emission industrial energy systems.
Investor Activity
The day’s rounds attracted participation from top venture firms and corporate backers, including Eclipse Ventures, General Catalyst, Kleiner Perkins, Sequoia, Avenir, Accel, and the European Investment Bank. Strategic players such as Uber, Nvidia Ventures, and Grab continued to bet on frontier technologies spanning AI, automation, and climate tech. Together, these financings underscore a consistent investor appetite for high-impact sectors—from AI infrastructure to clean energy and health longevity—signaling resilience in global venture funding even amid macroeconomic uncertainty.
Here’s the full breakdown. Until tomorrow, have a great evening.
Redwood Materials Raises $350M in Series E Funding for U.S. Battery Recycling Expansion
Redwood Materials, a Nevada-based battery recycling startup founded by Tesla’s former CTO J.B. Straubel, has secured a massive $350 million Series E round to accelerate its mission of building a domestic supply chain for critical battery materials. The funding, led by Eclipse Ventures with participation from NVentures (Nvidia’s venture arm), reinforces Redwood’s position as a linchpin in U.S. clean energy infrastructure.
Founded in 2017, Redwood develops technology to recycle and reuse lithium, cobalt, nickel, copper, and other elements from used batteries at scale, while also manufacturing large-scale energy storage systems to stabilize the grid. This new capital will fuel the expansion of Redwood’s recycling facilities, energy storage deployments, and workforce across the country. With electric vehicle adoption and AI-driven data centers driving up demand for batteries, Redwood’s expansion is timely, aiming to create a sustainable, closed-loop battery supply chain in America.
Funding Details:
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Startup: Redwood Materials (battery recycling & energy storage)
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Investors: Eclipse Ventures (lead), NVentures (Nvidia), and other existing backers
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Amount Raised: $350 million
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Total Raised: ~$2 billion (equity funding to date)
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Funding Stage: Series E
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Funding Date: October 23, 2025
Chainguard Lands $280M in Funding to Scale Open-Source Software Security
Chainguard, a Seattle-area cybersecurity startup focused on securing the software supply chain, has raised $280 million in novel non-dilutive financing from General Catalyst’s Customer Value Fund (CVF). Coming just six months after Chainguard’s $356 million Series D round at a $3.5 billion valuation, this growth funding will fuel more aggressive go-to-market expansion without diluting equity. Chainguard provides tools and services to help companies protect their open-source software components and container images, an urgent need as enterprises adopt AI and cloud-native applications rapidly.
Founded in 2021, Chainguard now serves over 200 customers globally and has raised a total of $892 million to date. The Kirkland, WA-based startup will use the new capital to scale sales, marketing, and R&D, aiming to make open-source software delivery more secure at enterprise scale. The financing’s structure – tying repayment to new customer revenue – underscores investor confidence in Chainguard’s efficient growth and strong product-market fit in software security.
Funding Details:
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Startup: Chainguard (open-source software supply chain security)
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Investors: General Catalyst (Customer Value Fund – lead)
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Amount Raised: $280 million
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Total Raised: $892 million (all funding to date)
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Funding Stage: Growth financing (non-dilutive, post-Series D)
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Funding Date: October 23, 2025
Fal.ai Raises $250M in Funding to Power Multimodal AI Infrastructure at $4B Valuation
Fal.ai, a rising infrastructure startup for multimodal AI models, has secured $250 million in fresh funding to scale its platform for hosting image, video, and audio AI models. The round, which vaults Fal.ai’s valuation above $4 billion, saw major participation from top VCs like Kleiner Perkins and Sequoia Capital. Co-founded in 2021 by former Coinbase and Amazon engineers, Fal.ai positions itself as the “render network” for generative media, providing a cloud platform with thousands of high-end GPUs to serve AI developers’ needs for fast, scalable content generation.
The new investment comes just three months after Fal.ai’s $125 million Series C, and brings its total funding to nearly $450 million so far. With demand for multimedia AI applications exploding, Fal.ai plans to use the capital to expand its infrastructure and meet surging interest from enterprise clients. The company’s platform already hosts hundreds of AI models and counts customers like Adobe, Canva, and Shopify, highlighting Fal.ai’s emergence as a key enabler of the next generation of creative AI tools.
Funding Details:
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Startup: Fal.ai (multimodal AI infrastructure platform)
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Investors: Kleiner Perkins, Sequoia Capital; existing backers include a16z, Bessemer, First Round Capital
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Amount Raised: $250 million
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Total Raised: ~$450 million
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Funding Stage: Series D (post-Series C)
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Funding Date: October 23, 2025
Avride Secures $375M in Funding from Uber and Nebius for Autonomous Robotaxis
Avride, an autonomous mobility startup spun out of Yandex’s self-driving unit, has secured up to $375 million in strategic funding and commercial commitments from Uber and Nebius to scale its robotaxi and delivery robot fleet. The funding will enable Avride to rapidly expand to as many as 500 self-driving vehicles and broaden its geographic reach. Founded in 2020 by former Yandex engineers, Avride uniquely integrates both autonomous ride-hailing cars and sidewalk delivery robots under one AI-driven platform.
This dual approach – handling passengers and deliveries – differentiates Avride from competitors and appeals to Uber as it looks to bring robotaxis onto its network. Avride is already preparing to launch its first public robotaxi service via Uber in Dallas by the end of 2025, leveraging the partnership to accelerate real-world deployment. With this sizable backing, Avride aims to become a major player in autonomous urban transport, addressing growing demand for congestion-cutting, driverless mobility solutions.
Funding Details:
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Startup: Avride (autonomous robotaxi & delivery vehicle platform)
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Investors: Uber (strategic lead), Nebius (strategic partner)
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Amount Raised: up to $375 million
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Total Raised: Not disclosed (first major funding round)
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Funding Stage: Strategic investment/partnership
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Funding Date: October 22, 2025
Grab Invests in May Mobility to Launch Robotaxis in Southeast Asia
May Mobility, a Michigan-based autonomous vehicle startup, is teaming up with Southeast Asian ride-hailing giant Grab through a new strategic investment (amount undisclosed) to bring self-driving taxis to Southeast Asia. Announced on Thursday, the partnership will integrate May Mobility’s autonomous driving technology into Grab’s platform and fleet operations, paving the way for robotaxi services in dense urban markets like Singapore and beyond.
This collaboration marks one of the most significant alliances between a U.S. self-driving startup and an Asian mobility powerhouse. By combining May Mobility’s autonomous shuttles and Grab’s extensive ride-hailing network, the two companies plan to develop a blueprint for deploying and managing robotaxis at scale in high-traffic cities. May Mobility – which has run autonomous pilots in the U.S. with partners like Toyota, Lyft, and Uber – will leverage Grab’s local mapping and infrastructure expertise to adapt its vehicles to Southeast Asia’s roads. The deal underscores the growing global momentum in autonomous transport, as Grab positions itself to incorporate driverless options alongside human drivers in the coming years.
Funding Details:
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Startup: May Mobility (autonomous driving/robotaxi startup)
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Investors: Grab (strategic corporate investor)
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Amount Raised: Not disclosed
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Total Raised: Not disclosed (prior funding ~$66 million from other strategic backers)
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Funding Stage: Strategic investment
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Funding Date: October 23, 2025
ShopMy Raises $70M in Series B Funding at $1.5B Valuation to Redefine Social Commerce
ShopMy, a New York-based curated commerce platform, has raised $70 million in funding at a $1.5 billion valuation to scale its “creator commerce” infrastructure. The Series B round was led by growth investor Avenir, with participation from Bain Capital Ventures, Bessemer Venture Partners, Menlo Ventures, and a roster of strategic angels from the fashion and creator world (including Sofia Richie and Aimee Song). ShopMy operates an online platform that connects premium brands, social media tastemakers, and consumers through curated, recommendation-driven shopping feeds.
Founded in 2020, the company has built an ecosystem of over 185,000 vetted creators and 1,200 partner brands, driving more than $1 billion in annual sales through influencer-led recommendations. Notably, ShopMy boasts 200% year-over-year revenue growth and has been profitable since 2024. The new funding will fuel product development on what ShopMy calls a “brand operating system” centered on authenticity and human curation over ads and algorithms. By doubling down on its community-driven commerce model, ShopMy aims to help brands build lasting cultural relevance via trusted influencer endorsements rather than traditional advertising.
Funding Details:
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Startup: ShopMy (curated social commerce platform)
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Investors: Avenir (lead), Bain Capital Ventures, Bessemer Venture Partners, Menlo Ventures; notable angels: Sofia Richie, Aimee Song, etc.
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Amount Raised: $70 million
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Total Raised: Not disclosed (significant growth-stage funding)
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Funding Stage: Series B
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Funding Date: October 22, 2025
Generation Lab Raises $11M in Seed Funding to Advance Longevity Diagnostics
Generation Lab, a San Francisco-based longevity biotech startup, has raised $11 million in seed funding to accelerate the adoption of its breakthrough aging diagnostics platform. The round was led by Accel, marking the VC firm’s first major bet in the longevity sector, with participation from notable investors including Samsung Next, Aoki Labs (DJ Steve Aoki’s fund), Build Your Legacy Ventures (NBA star Giannis Antetokounmpo’s fund), and Markham Valley Ventures (actor Simu Liu’s fund). Less than a year old, Generation Lab has developed SystemAge™, a blood-test-based platform that measures the biological age and health of 19 organ systems with striking accuracy (99.9%).
In under 10 months since launch, the startup has signed up over 275 clinics worldwide and gathered more than 300 million data points, signaling strong traction for its healthspan assessment tool. Generation Lab will use the seed capital – which places it among the top 1% of seed raises – to further validate its diagnostics, expand to more clinics, and move toward making proactive longevity care part of routine healthcare. Accel Partner Kerry Wang said Generation Lab is “shaping the future of the longevity industry” by combining solid science with rapid commercial progress in an emerging field.
Funding Details:
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Startup: Generation Lab (longevity diagnostics platform)
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Investors: Accel (lead), Samsung Next, Aoki Labs (Steve Aoki), Build Your Legacy (Giannis Antetokounmpo), Markham Valley (Simu Liu), Zone 2 Ventures
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Amount Raised: $11 million
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Total Raised: $15 million (including prior funding)
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Funding Stage: Seed Round
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Funding Date: October 23, 2025
Wonder Studios Raises $12M in Seed Funding to Fuse Film & Tech for Next-Gen Storytelling
Wonder Studios, a London-based startup at the intersection of film and technology, has raised $12 million in seed funding to develop its next-generation storytelling platform. The round was led by European VC heavyweight Atomico, with participation from LocalGlobe, Blackbird Ventures, Adobe Ventures, and industry insiders like former BBC executive Erik Huggers and YouTube collective Sidemen’s Upside Ventures.
Wonder Studios aims to bridge the worlds of cinema and cutting-edge tech – though still in stealth, the company is reportedly building tools that use AI and other technologies to streamline film production and create new immersive content experiences. The infusion of capital will enable Wonder Studios to expand its engineering and creative teams and refine its product, which promises to empower filmmakers with innovative tech-driven workflows. Atomico’s backing, along with support from major media and tech investors, signals strong confidence in Wonder Studios’ vision to reinvent how stories are created and experienced on screen.
Funding Details:
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Startup: Wonder Studios (film-tech startup for storytelling)
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Investors: Atomico (lead), LocalGlobe, Blackbird, Adobe Ventures; notable angels: Erik Huggers, Sidemen’s Upside Ventures
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Amount Raised: $12 million
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Total Raised: $12 million (initial seed financing)
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Funding Stage: Seed Round
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Funding Date: October 23, 2025
Meva Energy Secures €40M in Funding from EIB to Decarbonize Industry with Biogas Tech
Meva Energy, a Gothenburg, Sweden-based cleantech startup, has secured €40 million (approximately $42 million) in venture debt financing from the European Investment Bank (EIB) to scale its on-site biogas technology. Meva Energy builds modular, climate-neutral plants that convert local biomass waste (such as wood residues) into renewable, industrial-grade biogas – providing a fossil-free fuel source for manufacturers aiming to cut emissions.
The EIB funding will help Meva deploy its biomass gasification units across Europe, allowing factories to generate their own clean energy and reduce reliance on fossil natural gas. Led by CEO Niclas Davidsson, Meva Energy’s mission is to drive a “zero-waste, zero-emissions” manufacturing industry, and this funding boost from Europe’s climate-focused bank reinforces its vision and credibility. With the global industry under pressure to decarbonize, Meva’s solution offers a viable path by turning renewable feedstock into on-site power. The fresh capital will go toward scaling operations, building additional biogas units, and accelerating the commercialization of its technology in new markets.
Funding Details:
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Startup: Meva Energy (biogas technology for industrial decarbonization)
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Investors: European Investment Bank (venture debt lender)
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Amount Raised: €40 million (approx. $42 million)
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Total Raised: Not disclosed (includes prior equity funding; this is the first major debt round)
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Funding Stage: Venture Debt Financing
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Funding Date: October 23, 2025
