# Cloud startup funding, September 2026: Crusoe's $3.9B Series F leads 10 rounds > We read 10 equity rounds in Cloud announced in September 2026, raising $12B between them: 3% of all the rounds we read that month and 30% of the money. Source: https://millionrounds.com/news/monthly/2026-09/sector/cloud (Millionrounds; every figure on the page links to its filing or article) Equity rounds **10** in Cloud, 10 with an amount Raised **$12B** across those rounds Lead named **80%** of rounds say who led Share of the month **3%** of rounds; 30% 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 **Temporal** Series E · United States · led by Lightspeed Venture Partners, Tiger Global Management **$550M**](https://millionrounds.com/company/temporal) - [4 **Armada** Growth · United States **$230M**](https://millionrounds.com/company/armada) - [5 V **Verda** Series B · Finland · led by Emergence Capital **$189M**](https://millionrounds.com/company/verda) - [6 **TAR** Series A · United States · led by Spark Capital **$120M**](https://millionrounds.com/company/tar) - [7 **Delos Data** Series A · United States **$100M**](https://millionrounds.com/company/delos-data) - [8 V **Veridue** Pre-seed · United Kingdom · led by Episode 1 **$4.0M**](https://millionrounds.com/company/veridue) - [9 **Boxd** Pre-seed · Netherlands · led by BlueYard Capital **$2.0M**](https://millionrounds.com/company/boxd) ## Day by day Equity rounds in Cloud announced each day of September. The busiest day was 8 September, with 2. 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) *2* **$3.0M** this month **$2.0M** 12 months, all sectors [Series A](https://millionrounds.com/benchmarks/series-a) *2* **$110M** this month **$20M** 12 months, all sectors [Series B](https://millionrounds.com/benchmarks/series-b) *1* **$189M** this month **$50M** 12 months, all sectors [Series D](https://millionrounds.com/benchmarks/series-d) *1* **$3.5B** this month **$150M** 12 months, all sectors [Growth](https://millionrounds.com/benchmarks/growth) *2* **$1.6B** this month **$113M** 12 months, all sectors ## The most active leads Firms that led two or more of the month's rounds in Cloud. - [**Valor Equity Partners** Crusoe *2 led*](https://millionrounds.com/fund/valor-equity-partners) - [**Atreides Management** Crusoe *2 led*](https://millionrounds.com/fund/atreides-management) ## Where - [United States](https://millionrounds.com/news/monthly/2026-09/united-states) **6** - Finland **1** - [France](https://millionrounds.com/news/monthly/2026-09/france) **1** - [United Kingdom](https://millionrounds.com/news/monthly/2026-09/united-kingdom) **1** - Netherlands **1** United States had the most Cloud rounds this month. ## Against the month - Rounds, Cloud **10** - Rounds, all sectors **357** - Raised, Cloud **$12B** - Raised, all sectors **$39B** [The whole of September 2026](https://millionrounds.com/news/monthly/2026-09) ## Other sectors in September [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) **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)