# AI startup funding, September 2026: Crusoe's $3.9B Series F leads 195 rounds > We read 195 equity rounds in AI announced in September 2026, raising $27B between them: 55% of all the rounds we read that month and 70% of the money. Source: https://millionrounds.com/news/monthly/2026-09/sector/ai (Millionrounds; every figure on the page links to its filing or article) Equity rounds **195** in AI, 186 with an amount Raised **$27B** across those rounds Lead named **87%** of rounds say who led Share of the month **55%** of rounds; 70% of the money ## 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 **Cognition** Series E · United States · led by Andreessen Horowitz, Accel **$2.0B**](https://millionrounds.com/company/cognition) - [4 **Instinct** Series C · United States **$1.0B**](https://millionrounds.com/company/instinct) - [5 **Positron AI** Series C · led by New Enterprise Associates, Valor Equity Partners **$875M**](https://millionrounds.com/company/positron-ai) - [6 **Groq** Growth · United States · led by Disruptive **$750M**](https://millionrounds.com/company/groq) - [7 **Angle Health** Series C · United States · led by Vitruvian Partners **$600M**](https://millionrounds.com/company/angle-health) - [8 T **TEKEVER** Series D · United Kingdom · led by Baillie Gifford, UC Investments **$580M**](https://millionrounds.com/company/tekever) - [9 **Harvey** Growth · United States · led by Lightspeed Venture Partners, Diffusion **$550M**](https://millionrounds.com/company/harvey) - [10 **Temporal** Series E · United States · led by Lightspeed Venture Partners, Tiger Global Management **$550M**](https://millionrounds.com/company/temporal) ## Day by day Equity rounds in AI announced each day of September. The busiest day was 15 September, with 19. 1 September 30 September ## By stage, against the year Each stage's median this month beside its twelve-month median: the sector's own where we hold enough rounds for a benchmark, otherwise the one across all sectors. [Pre-seed](https://millionrounds.com/benchmarks/pre-seed/ai) *34* **$2.0M** this month **$2.1M** 12 months here [Seed](https://millionrounds.com/benchmarks/seed/ai) *49* **$5.3M** this month **$7.0M** 12 months here [Series A](https://millionrounds.com/benchmarks/series-a/ai) *38* **$20M** this month **$21M** 12 months here [Series B](https://millionrounds.com/benchmarks/series-b/ai) *27* **$55M** this month **$55M** 12 months here [Series C](https://millionrounds.com/benchmarks/series-c/ai) *20* **$150M** this month **$110M** 12 months here [Series D](https://millionrounds.com/benchmarks/series-d/ai) *7* **$115M** this month **$147M** 12 months here [Growth](https://millionrounds.com/benchmarks/growth/ai) *14* **$300M** this month **$150M** 12 months here ## The most active leads Firms that led two or more of the month's rounds in AI. - [**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, Flow Engineering, Positron AI and 1 more *4 led*](https://millionrounds.com/fund/valor-equity-partners) - [**Atreides Management** Crusoe, Flow Engineering, Positron AI and 1 more *4 led*](https://millionrounds.com/fund/atreides-management) - [**Sequoia Capital** Cymphony, Mecka AI, Profound *3 led*](https://millionrounds.com/fund/sequoia-capital) - [**Andreessen Horowitz** Cognition, EliseAI, Félix *3 led*](https://millionrounds.com/fund/andreessen-horowitz) - [**Accel** Arivihan, Cognition, Dodge AI *3 led*](https://millionrounds.com/fund/accel) - [**New Enterprise Associates** Basalt Health, Positron AI *2 led*](https://millionrounds.com/fund/new-enterprise-associates) ## Where - [United States](https://millionrounds.com/news/monthly/2026-09/united-states) **75** - [United Kingdom](https://millionrounds.com/news/monthly/2026-09/united-kingdom) **22** - [Canada](https://millionrounds.com/news/monthly/2026-09/canada) **13** - [China](https://millionrounds.com/news/monthly/2026-09/china) **8** - [France](https://millionrounds.com/news/monthly/2026-09/france) **7** - Sweden **7** - [India](https://millionrounds.com/news/monthly/2026-09/india) **6** - [Australia](https://millionrounds.com/news/monthly/2026-09/australia) **5** United States had the most AI rounds this month. ## Against the month - Rounds, AI **195** - Rounds, all sectors **357** - Raised, AI **$27B** - Raised, all sectors **$39B** [The whole of September 2026](https://millionrounds.com/news/monthly/2026-09) ## Other sectors in September [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) **How this roundup is made** It is written from the rounds we read that month in named articles and filings, by the sectors we file each company under; a company can sit in more than one, so sector roundups overlap. Only equity rounds with a stage count; debt, grants and public companies' raises do not. Each sector with 10 or more equity rounds in a month gets its own roundup. We read more sources every month, so compare medians, not totals. [How we read rounds](https://millionrounds.com/methodology) · [Report a mistake](https://millionrounds.com/corrections)