# Covariant funding: rounds and investors

> Covariant has raised $75M across 1 round since 2023. Investors include Index Ventures, Lux Capital and Coatue. Every round with its source.

Source: https://millionrounds.com/company/covariant (Millionrounds; every figure on the page links to its filing or article)

United States · [Series C startup](https://millionrounds.com/companies)

# Who invested in *Covariant*

One round we have observed, with the 6 investors named in it. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

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AI

Funding summary Updated 27 Oct 2026

**$75M** raised across 1 round since 2023, from 1 source

- **Latest round:** Series C, $75M Apr 2023
- **Investors:** 6

See who backed them

## The rounds

- **Apr 2023** Series C **$75M** [Index Ventures](https://millionrounds.com/fund/index-ventures) [Lux Capital](https://millionrounds.com/fund/lux-capital) [Coatue](https://millionrounds.com/fund/coatue-management) [Temasek Holdings](https://millionrounds.com/fund/temasek) [Radical Ventures](https://millionrounds.com/fund/radical-ventures) [AIX Ventures](https://millionrounds.com/fund/aix-ventures) Source recorded SEC filing: $23M sold, first sale Nov 2022

## Founders and team

From the SEC filings it signed: 1 on the team.

- **Xi Chen** Executive Officer, Director, Promoter i

On the board, as filed i *Jordan Jacobs* *Michael Volpi* *Pieter Abbeel* *Sunil Shaliwal* *Theodore Stinson*

## Everyone who backed them

[Index Ventures](https://millionrounds.com/fund/index-ventures) VC firm **1** round

[Lux Capital](https://millionrounds.com/fund/lux-capital) VC firm **1** round

[Coatue](https://millionrounds.com/fund/coatue-management) VC firm **1** round

[Temasek Holdings](https://millionrounds.com/fund/temasek) VC firm **1** round

[Radical Ventures](https://millionrounds.com/fund/radical-ventures) VC firm **1** round

[AIX Ventures](https://millionrounds.com/fund/aix-ventures) VC firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=covariant).

## Also claim to have backed them

These 4 firms list Covariant as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.

[Samsung Next](https://millionrounds.com/fund/samsung-next) Corporate VC Per its own site

[Amplify Partners](https://millionrounds.com/fund/amplify-partners) VC firm Per its own site

[A.Capital Ventures](https://millionrounds.com/fund/a-capital-ventures) VC firm Per its own site

[Cannage Capital](https://millionrounds.com/fund/cannage-capital) VC firm Per its own site

## Quick answers about Covariant

### Who invested in Covariant?

Covariant's investors include Index Ventures, Lux Capital, Coatue, Temasek Holdings and Radical Ventures, and 1 more on record.

### How much has Covariant raised?

Covariant has raised $75M across 1 round since 2023.

### When did Covariant last raise?

Covariant's most recent round was a Series C of $75M in Apr 2023.

### What was Covariant's biggest round?

Its most recent round, $75M in Apr 2023, is also its largest on record.

### Who backed Covariant first?

Covariant's first round on record, in Apr 2023, was backed by Index Ventures, Lux Capital and Coatue and 3 others.

### What stage is Covariant at?

Covariant's latest named round is a Series C, in Apr 2023.

### Where is Covariant based?

Covariant is based in the United States.

## Companies like Covariant

In the same sector, and raised in the last eighteen months.

[**Simile** $600M · Oct 2026](https://millionrounds.com/company/simile)[**Ayar Labs** $904M · Oct 2026](https://millionrounds.com/company/ayar-labs)[**Bedrock Robotics** $870M · Oct 2026](https://millionrounds.com/company/bedrock-robotics)[**Nevis** $105M · Oct 2026](https://millionrounds.com/company/nevis)[**Overwatch** $15M · Oct 2026](https://millionrounds.com/company/overwatch)[**Caju AI** $3.0M · Oct 2026](https://millionrounds.com/company/caju-ai)

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