# Biotech startup funding, October 2026: Varda Space Industries's $251M Series D leads 41 rounds > We read 41 equity rounds in Biotech announced in October 2026, raising $2.1B between them: 6% of all the rounds we read that month and 3% of the money. Source: https://millionrounds.com/news/monthly/2026-10/sector/biotech (Millionrounds; every figure on the page links to its filing or article) Equity rounds **41** in Biotech, 37 with an amount Raised **$2.1B** across those rounds Lead named **66%** of rounds say who led Share of the month **6%** of rounds; 3% of the money ## The biggest rounds - [1 **Varda Space Industries** Series D · United States **$251M**](https://millionrounds.com/company/varda-space-industries) - [2 P **Pathos AI** Series E · United States · led by Bristol Myers Squibb **$237M**](https://millionrounds.com/company/pathos-ai) - [3 W **Warp Sciences** Series A · United States · led by Lightspeed Venture Partners **$215M**](https://millionrounds.com/company/warp-sciences) - [4 W **Warhound** Seed · United States · led by • Ark Invest **$200M**](https://millionrounds.com/company/warhound) - [5 **Matchpoint Therapeutics** Series B · United States · led by Norwest Venture Partners, Nextech Invest **$150M**](https://millionrounds.com/company/matchpoint-therapeutics) - [6 **Nouscom** Series D · Switzerland · led by M/VENTURES, Revelation Partners **$135M**](https://millionrounds.com/company/nouscom) - [7 S **Soufflé Therapeutics** Series B · United States · led by Juvia Group **$135M**](https://millionrounds.com/company/souffle-therapeutics) - [8 **BioGeometry** Series A · China · led by China Life Capital **$100M**](https://millionrounds.com/company/biogeometry) - [9 S **Setara Biosciences** Series A · United States **$90M**](https://millionrounds.com/company/setara-biosciences) - [10 **AnaCardio** Series B · Switzerland · led by Ljungström family office **$71M**](https://millionrounds.com/company/anacardio) ## Day by day Equity rounds in Biotech announced each day of October. The busiest day was 7 October, with 3. 1 October 31 October ## 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* **$1.5M** this month **$2.0M** 12 months, all sectors [Seed](https://millionrounds.com/benchmarks/seed/biotech) *13* **$10M** this month **$6.7M** 12 months here [Series A](https://millionrounds.com/benchmarks/series-a/biotech) *13* **$38M** this month **$33M** 12 months here [Series B](https://millionrounds.com/benchmarks/series-b/biotech) *6* **$103M** this month **$55M** 12 months here [Series C](https://millionrounds.com/benchmarks/series-c) *1* **$25M** this month **$100M** 12 months, all sectors [Series D](https://millionrounds.com/benchmarks/series-d) *2* **$193M** this month **$150M** 12 months, all sectors [Growth](https://millionrounds.com/benchmarks/growth) *2* **$3.2M** this month **$113M** 12 months, all sectors ## Where - [United States](https://millionrounds.com/news/monthly/2026-10/united-states) **17** - [Japan](https://millionrounds.com/news/monthly/2026-10/japan) **4** - Switzerland **3** - [United Kingdom](https://millionrounds.com/news/monthly/2026-10/united-kingdom) **3** - Netherlands **2** - [South Korea](https://millionrounds.com/news/monthly/2026-10/south-korea) **2** - [China](https://millionrounds.com/news/monthly/2026-10/china) **2** - South Africa **1** United States had the most Biotech rounds this month. ## Against the month - Rounds, Biotech **41** - Rounds, all sectors **733** - Raised, Biotech **$2.1B** - Raised, all sectors **$59B** [The whole of October 2026](https://millionrounds.com/news/monthly/2026-10) ## Other sectors in October [411 rounds **AI** *→*](https://millionrounds.com/news/monthly/2026-10/sector/ai)[100 rounds **Fintech** *→*](https://millionrounds.com/news/monthly/2026-10/sector/fintech)[72 rounds **Healthcare** *→*](https://millionrounds.com/news/monthly/2026-10/sector/healthcare)[67 rounds **Software** *→*](https://millionrounds.com/news/monthly/2026-10/sector/software)[67 rounds **Robotics** *→*](https://millionrounds.com/news/monthly/2026-10/sector/robotics)[56 rounds **Manufacturing** *→*](https://millionrounds.com/news/monthly/2026-10/sector/manufacturing)[44 rounds **SaaS** *→*](https://millionrounds.com/news/monthly/2026-10/sector/saas)[44 rounds **Construction** *→*](https://millionrounds.com/news/monthly/2026-10/sector/construction)[42 rounds **Hardware & Electronics** *→*](https://millionrounds.com/news/monthly/2026-10/sector/hardware)[34 rounds **Big Data & Analytics** *→*](https://millionrounds.com/news/monthly/2026-10/sector/big-data)[33 rounds **Energy** *→*](https://millionrounds.com/news/monthly/2026-10/sector/energy)[33 rounds **Logistics** *→*](https://millionrounds.com/news/monthly/2026-10/sector/logistics)[32 rounds **Enterprise Software** *→*](https://millionrounds.com/news/monthly/2026-10/sector/enterprise-software)[29 rounds **Aerospace & Space** *→*](https://millionrounds.com/news/monthly/2026-10/sector/aerospace)[29 rounds **Healthtech** *→*](https://millionrounds.com/news/monthly/2026-10/sector/healthtech)[28 rounds **Cybersecurity** *→*](https://millionrounds.com/news/monthly/2026-10/sector/cybersecurity)[26 rounds **Defence Tech** *→*](https://millionrounds.com/news/monthly/2026-10/sector/defensetech)[25 rounds **Cloud** *→*](https://millionrounds.com/news/monthly/2026-10/sector/cloud)[24 rounds **Entertainment** *→*](https://millionrounds.com/news/monthly/2026-10/sector/entertainment)[23 rounds **B2C** *→*](https://millionrounds.com/news/monthly/2026-10/sector/b2c)[23 rounds **Financial Services** *→*](https://millionrounds.com/news/monthly/2026-10/sector/financial-services)[22 rounds **Medical Devices** *→*](https://millionrounds.com/news/monthly/2026-10/sector/medical-device)[20 rounds **Cleantech** *→*](https://millionrounds.com/news/monthly/2026-10/sector/cleantech)[19 rounds **E-commerce** *→*](https://millionrounds.com/news/monthly/2026-10/sector/ecommerce)[19 rounds **Food & Beverage** *→*](https://millionrounds.com/news/monthly/2026-10/sector/food-beverage)[18 rounds **Real Estate** *→*](https://millionrounds.com/news/monthly/2026-10/sector/real-estate)[18 rounds **Deeptech** *→*](https://millionrounds.com/news/monthly/2026-10/sector/deeptech)[18 rounds **Semiconductors** *→*](https://millionrounds.com/news/monthly/2026-10/sector/semiconductors)[17 rounds **Agtech** *→*](https://millionrounds.com/news/monthly/2026-10/sector/agtech)[16 rounds **Developer Tools** *→*](https://millionrounds.com/news/monthly/2026-10/sector/developer-tools)[15 rounds **Web3 & Crypto** *→*](https://millionrounds.com/news/monthly/2026-10/sector/web3)[15 rounds **Retail** *→*](https://millionrounds.com/news/monthly/2026-10/sector/retail)[15 rounds **Martech** *→*](https://millionrounds.com/news/monthly/2026-10/sector/martech)[14 rounds **Supply Chain** *→*](https://millionrounds.com/news/monthly/2026-10/sector/supply-chain)[14 rounds **Insurtech** *→*](https://millionrounds.com/news/monthly/2026-10/sector/insurtech)[14 rounds **Telecoms** *→*](https://millionrounds.com/news/monthly/2026-10/sector/telecom)[14 rounds **Climate Tech** *→*](https://millionrounds.com/news/monthly/2026-10/sector/climate)[13 rounds **Regtech** *→*](https://millionrounds.com/news/monthly/2026-10/sector/regtech)[13 rounds **Automotive & EVs** *→*](https://millionrounds.com/news/monthly/2026-10/sector/automotive)[13 rounds **Chemicals & Materials** *→*](https://millionrounds.com/news/monthly/2026-10/sector/chemicals)[12 rounds **Future of Work** *→*](https://millionrounds.com/news/monthly/2026-10/sector/future-of-work)[12 rounds **B2B** *→*](https://millionrounds.com/news/monthly/2026-10/sector/b2b)[12 rounds **Media** *→*](https://millionrounds.com/news/monthly/2026-10/sector/media)[12 rounds **Gaming** *→*](https://millionrounds.com/news/monthly/2026-10/sector/gaming)[11 rounds **Professional Services** *→*](https://millionrounds.com/news/monthly/2026-10/sector/consulting)[11 rounds **Marketplaces** *→*](https://millionrounds.com/news/monthly/2026-10/sector/marketplace)[11 rounds **HR Tech** *→*](https://millionrounds.com/news/monthly/2026-10/sector/hrtech)[11 rounds **Education** *→*](https://millionrounds.com/news/monthly/2026-10/sector/education)[11 rounds **Salestech** *→*](https://millionrounds.com/news/monthly/2026-10/sector/salestech)[10 rounds **Proptech** *→*](https://millionrounds.com/news/monthly/2026-10/sector/proptech)[10 rounds **Pharma** *→*](https://millionrounds.com/news/monthly/2026-10/sector/pharma)[10 rounds **Fashion** *→*](https://millionrounds.com/news/monthly/2026-10/sector/fashion)[10 rounds **Travel & Hospitality** *→*](https://millionrounds.com/news/monthly/2026-10/sector/traveltech) **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)