# Startup funding in September 2026: Crusoe's $3.9B Series F leads 357 rounds > 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... Source: https://millionrounds.com/news/monthly/2026-09 (Millionrounds; every figure on the page links to its filing or article) Equity rounds **357** announced in September, 334 with an amount Raised **$39B** across those rounds Lead named **83%** of rounds say who led Countries **37** where the month's rounds were raised ## The biggest rounds - [1 **Crusoe** Series F · United States · led by Valor Equity Partners, Atreides Management **$3.9B**](https://millionrounds.com/company/crusoe) - [2 **Mistral AI** Series D · France · led by Samsung Electronics **$3.5B**](https://millionrounds.com/company/mistral-ai) - [3 T **The Boring Co.** Growth · United States **$3.0B**](https://millionrounds.com/company/the-boring-co) - [4 **Cognition** Series E · United States · led by Andreessen Horowitz, Accel **$2.0B**](https://millionrounds.com/company/cognition) - [5 **Instinct** Series C · United States **$1.0B**](https://millionrounds.com/company/instinct) - [6 **Stoke Space Technologies** Series E · United States · led by Spark Capital, Point72 Ventures **$1.0B**](https://millionrounds.com/company/stoke-space-technologies) - [7 **Positron AI** Series C · led by New Enterprise Associates, Valor Equity Partners **$875M**](https://millionrounds.com/company/positron-ai) - [8 **Groq** Growth · United States · led by Disruptive **$750M**](https://millionrounds.com/company/groq) - [9 **Angle Health** Series C · United States · led by Vitruvian Partners **$600M**](https://millionrounds.com/company/angle-health) - [10 **Mach Industries** Series C · United States **$600M**](https://millionrounds.com/company/mach-industries) - [11 T **TEKEVER** Series D · United Kingdom · led by Baillie Gifford, UC Investments **$580M**](https://millionrounds.com/company/tekever) - [12 **Harvey** Growth · United States · led by Lightspeed Venture Partners, Diffusion **$550M**](https://millionrounds.com/company/harvey) - [13 **Temporal** Series E · United States · led by Lightspeed Venture Partners, Tiger Global Management **$550M**](https://millionrounds.com/company/temporal) - [14 **The Exploration Company** Series C · Germany · led by Bessemer Venture Partners, Atomico **$450M**](https://millionrounds.com/company/the-exploration-company) - [15 T **Tripo AI** Series B · United States · led by MPCi **$446M**](https://millionrounds.com/company/tripo-ai) ## Day by day Equity rounds announced each day of September. Most are announced on weekdays; the busiest day was 15 September, with 30. 1 September 30 September [Weekly roundup **Week of 7 September** *→*](https://millionrounds.com/news/weekly/2026-09-07)[Weekly roundup **Week of 14 September** *→*](https://millionrounds.com/news/weekly/2026-09-14)[Weekly roundup **Week of 21 September** *→*](https://millionrounds.com/news/weekly/2026-09-21)[Weekly roundup **Week of 28 September** *→*](https://millionrounds.com/news/weekly/2026-09-28) ## By stage, against the year Each stage's median this month beside its median over the last twelve months. [Pre-seed](https://millionrounds.com/benchmarks/pre-seed) *48* **$2.0M** this month **$2.0M** 12-month median [Seed](https://millionrounds.com/benchmarks/seed) *105* **$4.6M** this month **$5.5M** 12-month median [Series A](https://millionrounds.com/benchmarks/series-a) *72* **$18M** this month **$20M** 12-month median [Series B](https://millionrounds.com/benchmarks/series-b) *42* **$45M** this month **$50M** 12-month median [Series C](https://millionrounds.com/benchmarks/series-c) *33* **$140M** this month **$100M** 12-month median [Series D](https://millionrounds.com/benchmarks/series-d) *10* **$120M** this month **$150M** 12-month median [Growth](https://millionrounds.com/benchmarks/growth) *35* **$150M** this month **$113M** 12-month median ## The most active leads Firms that led three or more of the month's rounds. - [**Andreessen Horowitz** Cognition, EliseAI, Félix and 2 more *5 led*](https://millionrounds.com/fund/andreessen-horowitz) - [**General Catalyst** Complir, Disha, Félix and 2 more *5 led*](https://millionrounds.com/fund/general-catalyst) - [**Insight Partners** Confido, Graph AI, Gridsight and 2 more *5 led*](https://millionrounds.com/fund/insight-venture-partners) - [**Valor Equity Partners** Crusoe, David, Flow Engineering and 2 more *5 led*](https://millionrounds.com/fund/valor-equity-partners) - [**Atreides Management** Crusoe, EnduroSat, Flow Engineering and 2 more *5 led*](https://millionrounds.com/fund/atreides-management) - [**Sequoia Capital** Cymphony, Mecka AI, Profound *3 led*](https://millionrounds.com/fund/sequoia-capital) - [**Accel** Arivihan, Cognition, Dodge AI *3 led*](https://millionrounds.com/fund/accel) - [**Mercia Asset Management** KVector, SCI Semiconductor, givestar *3 led*](https://millionrounds.com/fund/mercia-ventures) ## Country roundups The month in the eight countries with the most equity rounds, each written up on its own. [116 rounds **United States** *→*](https://millionrounds.com/news/monthly/2026-09/united-states)[46 rounds **United Kingdom** *→*](https://millionrounds.com/news/monthly/2026-09/united-kingdom)[25 rounds **India** *→*](https://millionrounds.com/news/monthly/2026-09/india)[21 rounds **Canada** *→*](https://millionrounds.com/news/monthly/2026-09/canada)[13 rounds **Germany** *→*](https://millionrounds.com/news/monthly/2026-09/germany)[11 rounds **Australia** *→*](https://millionrounds.com/news/monthly/2026-09/australia)[9 rounds **France** *→*](https://millionrounds.com/news/monthly/2026-09/france)[9 rounds **China** *→*](https://millionrounds.com/news/monthly/2026-09/china) ## 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 rounds **AI** *→*](https://millionrounds.com/news/monthly/2026-09/sector/ai)[51 rounds **Fintech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/fintech)[39 rounds **Healthcare** *→*](https://millionrounds.com/news/monthly/2026-09/sector/healthcare)[30 rounds **Big Data & Analytics** *→*](https://millionrounds.com/news/monthly/2026-09/sector/big-data)[27 rounds **Biotech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/biotech)[25 rounds **Robotics** *→*](https://millionrounds.com/news/monthly/2026-09/sector/robotics)[24 rounds **Cybersecurity** *→*](https://millionrounds.com/news/monthly/2026-09/sector/cybersecurity)[23 rounds **Hardware & Electronics** *→*](https://millionrounds.com/news/monthly/2026-09/sector/hardware)[22 rounds **Enterprise Software** *→*](https://millionrounds.com/news/monthly/2026-09/sector/enterprise-software)[21 rounds **Software** *→*](https://millionrounds.com/news/monthly/2026-09/sector/software)[21 rounds **Energy** *→*](https://millionrounds.com/news/monthly/2026-09/sector/energy)[21 rounds **Construction** *→*](https://millionrounds.com/news/monthly/2026-09/sector/construction)[20 rounds **Healthtech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/healthtech)[20 rounds **SaaS** *→*](https://millionrounds.com/news/monthly/2026-09/sector/saas)[19 rounds **Logistics** *→*](https://millionrounds.com/news/monthly/2026-09/sector/logistics)[17 rounds **Manufacturing** *→*](https://millionrounds.com/news/monthly/2026-09/sector/manufacturing)[16 rounds **Cleantech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/cleantech)[14 rounds **Aerospace & Space** *→*](https://millionrounds.com/news/monthly/2026-09/sector/aerospace)[14 rounds **Defence Tech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/defensetech)[13 rounds **Telecoms** *→*](https://millionrounds.com/news/monthly/2026-09/sector/telecom)[13 rounds **Semiconductors** *→*](https://millionrounds.com/news/monthly/2026-09/sector/semiconductors)[13 rounds **Climate Tech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/climate)[11 rounds **Automotive & EVs** *→*](https://millionrounds.com/news/monthly/2026-09/sector/automotive)[10 rounds **Cloud** *→*](https://millionrounds.com/news/monthly/2026-09/sector/cloud) ## Where - [United States](https://millionrounds.com/news/monthly/2026-09/united-states) **116** - [United Kingdom](https://millionrounds.com/news/monthly/2026-09/united-kingdom) **46** - [India](https://millionrounds.com/news/monthly/2026-09/india) **25** - [Canada](https://millionrounds.com/news/monthly/2026-09/canada) **21** - [Germany](https://millionrounds.com/news/monthly/2026-09/germany) **13** - [Australia](https://millionrounds.com/news/monthly/2026-09/australia) **11** - [France](https://millionrounds.com/news/monthly/2026-09/france) **9** - [China](https://millionrounds.com/news/monthly/2026-09/china) **9** United States had the most rounds this month. ## In what - [AI](https://millionrounds.com/news/monthly/2026-09/sector/ai) **195** - [Fintech](https://millionrounds.com/news/monthly/2026-09/sector/fintech) **51** - [Healthcare](https://millionrounds.com/news/monthly/2026-09/sector/healthcare) **39** - [Big Data & Analytics](https://millionrounds.com/news/monthly/2026-09/sector/big-data) **30** - [Biotech](https://millionrounds.com/news/monthly/2026-09/sector/biotech) **27** - [Robotics](https://millionrounds.com/news/monthly/2026-09/sector/robotics) **25** - [Cybersecurity](https://millionrounds.com/news/monthly/2026-09/sector/cybersecurity) **24** - [Hardware & Electronics](https://millionrounds.com/news/monthly/2026-09/sector/hardware) **23** AI was the busiest sector. **How this roundup is made** It is written from the rounds we read that month in named articles and filings. Only equity rounds with a stage count towards the figures; debt, grants and public companies' raises do not. We read more sources every month, so the number of rounds says more about our coverage than about the market: compare medians, not totals. [How we read rounds](https://millionrounds.com/methodology) · [Report a mistake](https://millionrounds.com/corrections)