Current News on Startups and Venture Investments as of September 19, 2025: Mega-Rounds in AI, New Unicorns, IPO Renaissance, M&A Deals, Crypto Industry Revival, and Growth in Defense and Space Investments.
As of mid-September 2025, the global venture capital market continues its strong recovery after several years of decline. Investors worldwide are once again activating funding for technology companies at all stages of development—from early seed rounds to preparing startups for IPOs. In the first six months of 2025, startups in North America raised approximately $145 billion, marking a roughly 43% increase compared to the previous year, and setting a record for the first half of the year since 2021. Against the backdrop of improved macroeconomic conditions and increased interest in innovations, trust in the venture market is strengthening: deals are becoming larger and covering a wide range of sectors—from artificial intelligence and fintech to biotechnology and defense. At the same time, caution persists: funding is primarily going to a limited circle of the most promising projects to avoid overheating in specific niches.
The venture boom is evident across all regions. The U.S. continues to lead, accounting for about two-thirds of the global volume of investments (especially dominating in the AI sector). In the Middle East, startup funding has nearly doubled within a year, thanks to multi-billion tech projects in the Gulf states. In Europe, structural shifts are occurring: Germany has surpassed the UK in total venture deal volume for the first time in a decade, although Europe’s share of global VC has slightly decreased. India and Southeast Asia maintain their investment boom, driven by foreign funds, while activity in China remains restrained due to internal restrictions. The startup scenes in Africa and Latin America are also becoming revitalized, attracting increasing amounts of capital and creating new growth opportunities outside traditional tech hubs. Meanwhile, startups in Russia and the CIS are striving to keep pace with global trends: despite external constraints, new funds and support programs are emerging in the region.
Below are the key trends and events in the venture market as of September 19, 2025:
- The Return of Mega-Funds and Large Investors. Leading venture players are raising record-sized funds and increasing investments, rejuvenating the market with capital and fostering a risk appetite.
- Record Funding Rounds and a New Wave of “Unicorns.” Exceptionally large deals are driving startup valuations to unprecedented heights, especially in the artificial intelligence and robotics segments.
- A Revival in the IPO Market. A series of successful public offerings by tech companies signals an opening “window” for exits and a return of liquidity to the venture market.
- Diversification of Sector Focus. Venture capital is being directed not only to AI but also to fintech, green technologies, biotech, and other sectors, broadening market horizons.
- A Surge in Consolidation and M&A Deals. Major mergers, acquisitions, and strategic investments are reshaping the industry landscape, creating new exit opportunities and accelerating company growth.
- A Renaissance in the Crypto Industry. The rally in the digital assets market has rekindled investor interest in blockchain projects, leading to new significant funding rounds and even public offerings in the crypto sector.
- A Boom in Defense and Space Investments. Geopolitical factors are driving capital inflow into defense-tech and space projects, making these areas a new priority for venture funds.
- Local Initiatives in Russia and the CIS. New funds and legislative measures are being launched to support startups in the region, and local projects are beginning to attract foreign capital, integrating into global trends.
The Return of Mega-Funds: Major Capital is Back on the Market
The largest investment entities are once again entering the venture arena, signaling a new surge in risk appetite. The Japanese conglomerate SoftBank has announced the launch of its third Vision Fund, amounting to approximately $40 billion, focused on advanced technologies (with an emphasis on AI and robotics) after a long hiatus. Sovereign funds from Gulf states have also become more active, pouring oil dollars into tech initiatives and government megaprojects, forming their own technology hubs in the Middle East. Simultaneously, numerous new venture funds are being established worldwide, attracting significant institutional capital for investments in high-tech sectors.
- Veritas Capital Fund IX – $14.4 billion. An American fund focused on technology and defense industries closed a new fund with a record amount, demonstrating a high level of trust from major institutional investors.
- Great Hill Partners IX – $7 billion. One of the largest growth funds targeting tech companies attracted substantial capital, significantly exceeding its initial target size upon closing the new fund.
Notably, the venture firm Andreessen Horowitz is also planning a mega-fund of $20 billion entirely devoted to investing in AI companies—if successfully raised, this would become the largest fund in the firm's history. The increased influx of capital from such “mega-funds” leads to a sharp increase in the volume of uninvested funds (“dry powder”) in the market. In the American venture sector, funds have accumulated hundreds of billions of dollars ready to be invested as confidence returns. This intensifies competition for the best startups and supports high valuations for promising companies. The very presence of large institutional funds bolsters confidence that the capital influx into the sector will continue.
Mega-Rounds in AI and a New Wave of “Unicorns”
The field of artificial intelligence and other advanced technologies remain the primary drivers of the current venture boom, demonstrating record funding volumes. Investors are eager to position themselves among the leaders of the new technology cycle, directing colossal sums into the most promising projects. In recent weeks, several record deals have confirmed this trend:
- OpenAI (USA) – $8.3 billion. The AI technology developer secured one of the largest funding rounds in history at an evaluation of approximately $300 billion; in conjunction with Microsoft, the company is spinning off its business unit and preparing it for an IPO.
- Mistral AI (France) – €1.7 billion. The generative AI startup received a record amount for Europe, raising its valuation to €11.7 billion. The leading investor was Dutch corporation ASML, emphasizing Europe's ambitions in AI infrastructure.
- PsiQuantum (USA) – $1 billion. The quantum startup garnered the largest investment in its segment, valued at approximately $7 billion, confirming investors’ readiness to fund technologies beyond classic artificial intelligence.
- Figure AI (USA) – $1 billion+. The company developing humanoid robots attracted over $1 billion in a Series C round at a valuation of about $39 billion—an unprecedented level for a robotics startup.
Such mega-rounds are forming a generation of new “unicorns” and accelerating the emergence of the technological leaders of the future. Despite warnings of a potential market overheating, investor appetite for advanced projects remains high. It is noted that not only application AI products are being funded but also the infrastructure needed for them—specialized chips, cloud platforms, and data storage solutions that are essential for scaling the AI ecosystem.
IPO Market Awakens: Exit Window is Open
Following the downturn in 2022–2023, the IPO market is once again showing signs of life. Successful public offerings from several tech companies have demonstrated that investors are ready to buy shares of rapidly growing startups at high valuations. This new wave of IPOs is reinforcing venture funds' confidence in profitable exits.
- Chime. The American fintech unicorn (neobank) went public on Nasdaq in June; stock prices soared by 30% on the first trading day, confirming high investor demand for promising fintech companies.
- Klarna. The Swedish fintech giant debuted on the New York Stock Exchange, becoming one of the first European “unicorns” to list in the U.S. after a long hiatus. The shares were sold above the initial range and appreciated by over 25% within the first few hours of trading.
- Via. The American provider of public transport technology raised approximately $493 million in its IPO on the NYSE, achieving a valuation of around $3.5 billion. This debut illustrated the market's willingness to invest in new segments of transport services.
The success of these offerings signifies a return of liquidity to the venture market. Following these initial “sparrows,” other major startups are preparing for their public offerings—from the American payment service Stripe (which, according to media, has already submitted a confidential IPO application) to highly valued AI companies like Databricks. The revival of IPO activity is crucial for the entire ecosystem: successful exits enable venture funds to realize profits and redirect released funds into new projects, fueling the next growth cycle.
Wave of Mergers and Acquisitions (M&A)
High valuations of startups and intense competition for markets are pushing the industry toward a new wave of consolidation. Major tech corporations are once again ready to spend billions on strategic acquisitions to strengthen their positions and acquire cutting-edge developments. A number of high-profile M&A deals in recent months confirm this trend:
- Google → Wiz — ~$32 billion. Alphabet Corporation acquired the Israeli cloud cybersecurity startup to bolster its positions in data protection and cloud services.
- SoftBank → Ampere — ~$6.5 billion. The Japanese holding purchased American server processor developer Ampere Computing, aiming to become a leader in the chip segment for cloud and enterprise data centers.
The activation of acquisition deals is changing the power dynamics in the industry. Mature startups are either merging with each other or becoming targets for corporations. For venture investors, this opens opportunities for long-awaited exits through the sale of portfolio companies to strategic players. At the same time, consolidation helps eliminate excessive competition from the market and focus resources on the most promising directions.
Diversification: Fintech, Biotech, and Green Projects
Venture investments in 2025 are no longer concentrated solely on AI—capital is actively flowing into other sectors as well. After last year's downturn, fintech is regaining momentum: major fintech startups are attracting substantial sums and renewing partnerships with banks. Concurrently, interest in climate and environmental projects is increasing—from renewable energy and energy storage systems to electric vehicles and carbon footprint reduction technologies. Gradually, appetite for biotechnology is returning, as the emergence of new drugs and digital medical services is again attracting capital as company valuations recover.
- Kriya Therapeutics – $320 million. An American biotech startup specializing in gene therapy raised $320 million in a Series D round.
- Odyssey Therapeutics – $213 million. A biopharmaceutical company developing new drugs for serious diseases received $213 million in Series D investments.
- Nitricity – $50 million. A California-based eco-tech startup secured $50 million to develop an innovative zero-emission fertilizer production technology.
The expansion of sector focus makes the startup ecosystem more resilient, reducing the risk of overheating in individual niches. Investors are intentionally seeking new growth opportunities beyond the overwhelmingly popular AI, which promotes the emergence of promising companies across a wide range of fields.
The Renaissance of the Crypto Industry
The digital assets market is experiencing a new boom in the second half of 2025, rekindling venture capital interest in crypto startups. Bitcoin has already surpassed the historic threshold of $120,000, establishing an all-time high, and leading altcoin prices are rapidly rising as well. Just a year ago, the blockchain sector was facing a crisis of trust and strict regulatory pressure; however, the current rally has fundamentally changed investor sentiments.
Major funds that previously halted investments in crypto projects are re-entering the market. Significant funding rounds are being recorded, and some players are even going public. For instance:
- Circle. The fintech company in the digital currency sector successfully conducted an IPO, becoming one of the first large “crypto-friendly” firms on the exchange.
- Gemini. The cryptocurrency exchange raised $50 million from the Nasdaq Ventures division ahead of its public listing.
- BlackRock. The investment giant launched an exchange-traded fund (ETF) linked to Bitcoin, signaling significant institutional acceptance of crypto assets.
All these events indicate that the blockchain industry is once again perceived by investors as a promising avenue for growth.
Defense Technologies and Space at the Forefront
The geopolitical tensions of recent years have led to an unprecedented increase in investments in the defense and aerospace sectors. Investments in defense-tech startups have surged dramatically: large rounds like the ~$2.5 billion raised by American autonomous systems producer Anduril demonstrate venture capital's readiness to finance security projects. Investors (and in some cases governments) are actively supporting developments in drones, cybersecurity, military AI systems, as well as new space programs and satellite platforms.
The defense and space sectors are quickly becoming a new priority for venture funds. Several unicorns have emerged in the aerospace technology field in the U.S., and European defense startups have received significant funding amid changing geopolitics. For example, California-based standardized satellite platform manufacturer Apex raised $200 million in a Series D round to accelerate mass production of spacecraft to meet growing demand. Overall, venture investments in the “power” industries promise not only commercial benefits but also strategic advantages, making them attractive even to relatively conservative investors.
Russia and the CIS: Local Trends Amid the Global Market
Despite external constraints, the startup scene in Russia and neighboring countries is developing in parallel with global trends. In 2025, new sources of capital and initiatives to support technology businesses have emerged in the region:
- New Funds. A private fund, Nova VC (with a volume of around 10 billion rubles), has launched in Russia, and an industry venture fund, “New Chemical Industry” (~5 billion rubles), has been established in Tatarstan to finance regional innovation projects.
- Government Support. Authorities are discussing a separate law on venture investments. Among the declared goals is to stimulate innovation and increase R&D spending to 2% of GDP by 2030 (almost doubling from current levels).
- International Success. Despite sanctions barriers, teams from the CIS continue to attract funds abroad. For example, the machine learning service Vocal Image, founded by Belarusian expatriates and operating in Estonia, received ~$3.6 million from a French venture fund—demonstrating that promising projects from the region can secure support on the global stage.
While venture investment volumes in Russia and the CIS still lag behind global leaders, all the necessary elements of the ecosystem are taking shape: local funds, accelerators, government programs, and international partnerships. This creates a foundation for the emergence of homegrown “unicorns” and deeper integration of regional startups into the global technological agenda.
