AI Startup Funding Dips in Latest Weekly Investment Round

Want to keep track of the largest startup funding deals in 2026 with our curated list of $100 million-plus venture deals to U.S.-based companies? Check out The Crunchbase Megadeals Board.

This is a weekly feature that runs down the week’s Top 10 announced funding rounds in the U.S. Check out last week’s biggest funding deal roundup here.

Venture investors did not halt activity entirely last week, but they did reduce their outlays on massive rounds, with only two startup financings reaching the multiple hundreds of millions. Modal Labs, an artificial intelligence infrastructure provider, claimed the largest financing at $750 million, followed by Icon, a construction automation unicorn, which brought in $200 million. Additional sectors capturing larger investments during the week included artificial intelligence, insurance, and biotechnology.

1. Modal Labs, $750M, AI infrastructure: Modal Labs, a cloud infrastructure provider specializing in AI inference and other workloads, secured $750 million through a Series D financing round led by Accel, reaching a valuation of $15.75 billion. The New York-based enterprise reported that its annual revenue run rate recently surpassed $1 billion.

2. Icon, $200M, construction tech: Icon, an Austin-based creator of robotic construction systems known for 3D-printed homes, finalized $200 million in Series D capital led by Baillie Gifford and BlackRock. The company reports it remains on track for fourfold revenue growth throughout 2026.

3. Soufflé Therapeutics, $135M, RNA therapies: Soufflé Therapeutics, a Boston-based biotechnology firm focused on RNA therapeutics, collected $135 million in a Series B round managed by Juvia Group alongside a broad syndicate of financial backers.

4. Estuary Biotherapeutics, $103M, gene therapies: Estuary Biotherapeutics, a Menlo Park, California-based developer of genetic treatments for patients suffering from severe kidney conditions, formally launched backed by $103 million in total financing. This sum incorporates $93 million from a Series A round led by RA Capital Management as well as $10 million in previously unannounced seed capital.

5. Labelbox, $100M, AI tools: Labelbox, a developer of systems designed to train and evaluate AI models while deploying self-improving agents, gathered $100 million in Series E funding. Infinitum Partners spearheaded the investment for the 8-year-old enterprise located in San Francisco.

6. Suki, $90M, health AI: Suki, a Redwood City, California-based creator of artificial intelligence tools that convert clinical discussions into actionable data for documentation, medical coding, and medical workflows, revealed a $90 million Series E round with participation from investors including Healthier Capital and Crosslink Capital.

7. Abby Care, $82M, caregiver platform: Abby Care, an organization enabling family members to become certified, compensated caregivers providing home-based assistance, secured $82 million in Series C financing, according to a Fortune publication. Transformation Capital directed the round for the 5-year-old San Francisco-based startup.

8. Stand, $70M, insurance: Stand, a specialty insurance provider catering to residences situated in zones facing heightened natural disaster vulnerabilities, collected $70 million in Series C financing at a $1 billion valuation. Saga Ventures headed the investment for the 3-year-old San Francisco company.

9. Mueon, $65M, semiconductor systems: Mueon Corp., a semiconductor systems developer constructing a modular framework tailored for hyperscale and artificial intelligence computing, finalized a $65 million Series A investment. Maverick Silicon directed the financing for the Portland, Oregon-headquartered business.

10. North.cloud, $60M, AI spend management: North.cloud, a New York enterprise offering infrastructure expenditure intelligence and automation software, brought in $60 million via a Series B round led by PeakSpan Capital.

Methodology

We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of Oct. 10-16, 2026. Although most announced rounds are in the database, there may be a small time lag, as some rounds are reported late in the week.

Illustration: Dom Guzman