Monthly roundup · September 2026

Startup funding in September 2026: Crusoe's $3.9B Series F leads 357 rounds

By Millionrounds ResearchPublished 1 October 2026Updated 5 November 2026

We read 357 equity rounds announced in September 2026, raising $39B between them. The largest was Crusoe's $3.9B Series F, led by Valor Equity Partners and Atreides Management. The median seed round was $4.6M, against $5.5M over the last twelve months; at Series A it was $18M. Andreessen Horowitz led the most rounds, with 5.

Equity rounds357announced in September, 334 with an amount
Raised$39Bacross those rounds
Lead named83%of rounds say who led
Countries37where the month's rounds were raised

The biggest rounds

  1. 1CrusoeSeries F · United States · led by Valor Equity Partners, Atreides Management$3.9B
  2. 2Mistral AISeries D · France · led by Samsung Electronics$3.5B
  3. 3TThe Boring Co.Growth · United States$3.0B
  4. 4CognitionSeries E · United States · led by Andreessen Horowitz, Accel$2.0B
  5. 5InstinctSeries C · United States$1.0B
  6. 6Stoke Space TechnologiesSeries E · United States · led by Spark Capital, Point72 Ventures$1.0B
  7. 7Positron AISeries C · led by New Enterprise Associates, Valor Equity Partners$875M
  8. 8GroqGrowth · United States · led by Disruptive$750M
  9. 9Angle HealthSeries C · United States · led by Vitruvian Partners$600M
  10. 10Mach IndustriesSeries C · United States$600M
  11. 11TTEKEVERSeries D · United Kingdom · led by Baillie Gifford, UC Investments$580M
  12. 12HarveyGrowth · United States · led by Lightspeed Venture Partners, Diffusion$550M
  13. 13TemporalSeries E · United States · led by Lightspeed Venture Partners, Tiger Global Management$550M
  14. 14The Exploration CompanySeries C · Germany · led by Bessemer Venture Partners, Atomico$450M
  15. 15TTripo AISeries B · United States · led by MPCi$446M

Day by day

Equity rounds announced each day of September. Most are announced on weekdays; the busiest day was 15 September, with 30.

1 September30 September
Weekly roundupWeek of 7 September→Weekly roundupWeek of 14 September→Weekly roundupWeek of 21 September→Weekly roundupWeek of 28 September→

By stage, against the year

Each stage's median this month beside its median over the last twelve months.

Pre-seed48$2.0Mthis month$2.0M12-month median
Seed105$4.6Mthis month$5.5M12-month median
Series A72$18Mthis month$20M12-month median
Series B42$45Mthis month$50M12-month median
Series C33$140Mthis month$100M12-month median
Series D10$120Mthis month$150M12-month median
Growth35$150Mthis month$113M12-month median

The most active leads

Firms that led three or more of the month's rounds.

Country roundups

The month in the eight countries with the most equity rounds, each written up on its own.

116 roundsUnited States→ 46 roundsUnited Kingdom→ 25 roundsIndia→ 21 roundsCanada→ 13 roundsGermany→ 11 roundsAustralia→ 9 roundsFrance→ 9 roundsChina→

Sector roundups

The month in every sector with 10 or more equity rounds, each written up on its own. A company can sit in more than one sector.

195 roundsAI→51 roundsFintech→39 roundsHealthcare→30 roundsBig Data & Analytics→27 roundsBiotech→25 roundsRobotics→24 roundsCybersecurity→23 roundsHardware & Electronics→22 roundsEnterprise Software→21 roundsSoftware→21 roundsEnergy→21 roundsConstruction→20 roundsHealthtech→20 roundsSaaS→19 roundsLogistics→17 roundsManufacturing→16 roundsCleantech→14 roundsAerospace & Space→14 roundsDefence Tech→13 roundsTelecoms→13 roundsSemiconductors→13 roundsClimate Tech→11 roundsAutomotive & EVs→10 roundsCloud→

Where

United States had the most rounds this month.

In what

AI was the busiest sector.