# Lemma funding: rounds and investors

> Lemma has raised $2.8M across 2 rounds since 2025. Investors include Y Combinator, Liquid 2 Ventures and Cervin Ventures. Every round with its source.

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

United States · [Pre-seed startup](https://millionrounds.com/companies)

# Who invested in *Lemma*

2 rounds we have observed, with the 3 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

AI

Raised 3 months ago

Funding summary Updated 26 Oct 2026

**$2.8M** raised across 2 rounds since 2025, from 2 sources

**$500K** Pre-seed **$2.3M** Pre-seed

- **Latest round:** Pre-seed, $2.3M Aug 2026
- **Step-up i:** 4.6×
- **Investors:** 3

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2026

**$500K** Pre-seed

**$2.3M** Pre-seed

- **First round:** Pre-seed, $500K
- **Biggest round:** $2.3M
- **Between rounds:** 8 months

## The rounds

- **Aug 2026** Pre-seed **$2.3M** *2 new* *1 returning* [Y Combinator](https://millionrounds.com/fund/y-combinator) [Liquid 2 Ventures](https://millionrounds.com/fund/liquid-2-ventures) [Cervin Ventures](https://millionrounds.com/fund/cervin-ventures) Source recorded
- **Dec 2025** Pre-seed **$500K** *1 new* [Y Combinator](https://millionrounds.com/fund/y-combinator) Source recorded

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Pre-seed** 2025 **Pre-seed** 2026 [Y Combinator](https://millionrounds.com/fund/y-combinator) [Liquid 2 Ventures](https://millionrounds.com/fund/liquid-2-ventures) [Cervin Ventures](https://millionrounds.com/fund/cervin-ventures)

## Everyone who backed them

[Y Combinator](https://millionrounds.com/fund/y-combinator) Accelerator **2** rounds

[Liquid 2 Ventures](https://millionrounds.com/fund/liquid-2-ventures) VC firm **1** round

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

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

## Quick answers about Lemma

### Who invested in Lemma?

Lemma's investors include Y Combinator, Liquid 2 Ventures and Cervin Ventures.

### How much has Lemma raised?

Lemma has raised $2.8M across 2 rounds since 2025.

### When did Lemma last raise?

Lemma's most recent round was a Pre-seed of $2.3M in Aug 2026.

### What was Lemma's biggest round?

Its most recent round, $2.3M in Aug 2026, is also its largest on record.

### Who backed Lemma first?

Lemma's first round on record, in Dec 2025, was backed by Y Combinator.

### What stage is Lemma at?

Lemma's latest named round is a Pre-seed, in Aug 2026.

### Where is Lemma based?

Lemma is based in the United States.

## Companies like Lemma

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

[**SpaceX** $42B · Oct 2026](https://millionrounds.com/company/spacex)[**xPay** $1.5M · Oct 2026](https://millionrounds.com/company/xpay)[**Albert Invent** $20M · Oct 2026](https://millionrounds.com/company/albert-invent)[**FORT Robotics** $39M · Oct 2026](https://millionrounds.com/company/fort-robotics)[**Pika** $216M · Oct 2026](https://millionrounds.com/company/pika)[**Vertical Semiconductor** $84M · Oct 2026](https://millionrounds.com/company/vertical-semiconductor)

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