# Basecamp Research raises $140M Series C led by S32

> Basecamp Research, based in United Kingdom, has raised $140M in a Series C led by S32, announced on 23 September 2026. 16 other investors joined.

Source: https://millionrounds.com/news/rounds/basecamp-research-series-c-2026-09 (Millionrounds; every figure on the page links to its filing or article)

Raised **$140M** 2 sources reported it

Stage **Series C** 4 earlier rounds on record

Investors **17** 1 named as lead

Where **GB** United Kingdom

AI Biotech

## How big is it?

Against every equity round we recorded in the twelve months to 23 September 2026. Ranks count companies, so the same raise reported twice is counted once.

**#347** equity round of the last twelve months

**#72** Series C of 214 in that time

**#27** round in United Kingdom, of 322

This round **$140M**

Median Series C **$100M**

1.4 times the median Series C of the last twelve months.

## Who invested

- [**S32** 21 rounds in the last twelve months *Led*](https://millionrounds.com/fund/s32)

Also in the round

- [Menlo Ventures](https://millionrounds.com/fund/menlo-ventures)
- [Catalio Capital Management](https://millionrounds.com/fund/catalio-capital-management)
- [True Ventures](https://millionrounds.com/fund/true-ventures-2)
- [Singular](https://millionrounds.com/fund/singular)
- [Hummingbird Ventures](https://millionrounds.com/fund/hummingbird-ventures)
- [Redalpine](https://millionrounds.com/fund/redalpine)
- [NATO Innovation Fund (NIF)](https://millionrounds.com/fund/nato-innovation-fund)
- [Inception Fund](https://millionrounds.com/fund/inception-fund)
- [Anthropic's Anthology Fund](https://millionrounds.com/fund/anthropic-s-anthology-fund)
- [PostScriptum](https://millionrounds.com/fund/postscriptum)
- [European Tech Collective](https://millionrounds.com/fund/european-tech-collective)
- [Sovereign AI](https://millionrounds.com/fund/sovereign-ai)
- [The Rockefeller Foundation](https://millionrounds.com/fund/the-rockefeller-foundation)
- [André Hoffmann](https://millionrounds.com/fund/andre-hoffmann)
- [King Philanthropies](https://millionrounds.com/fund/king-philanthropies)
- [Firebrand River Capital](https://millionrounds.com/fund/firebrand-river-capital)

## Funding history

- September 2026 Series C **$140M**
- September 2024 Round **$58M**
- December 2022 Round **$1.2M**
- August 2022 Round **$18M**
- August 2021 Round **$5.7M**

$222M raised across the 5 rounds we hold.

## Reported by

- Ventureburn 23 September
- NATO Innovation Fund (NIF) 24 September

The round's figures come from these reports; each link opens the original.

## Other big rounds that week

[**Island** $400M Series F](https://millionrounds.com/news/rounds/island-series-f-2026-09)[V **Verda** $189M Series B](https://millionrounds.com/news/rounds/verda-series-b-2026-09)[**Angle Health** $600M Series C](https://millionrounds.com/news/rounds/angle-health-series-c-2026-09)[**Rainmaker** $100M Series B](https://millionrounds.com/news/rounds/rainmaker-series-b-2026-09)

[The company **Basecamp Research on Millionrounds** *→*](https://millionrounds.com/company/basecamp-research)[Weekly roundup **Week of 21 September** *→*](https://millionrounds.com/news/weekly/2026-09-21)[Monthly roundup **September 2026** *→*](https://millionrounds.com/news/monthly/2026-09)

**How this article is made**

We write one for every equity round of $100M or more that at least two sources reported. It is put together from our record of rounds, not rewritten from the reports: the ranks and medians count every equity round we read in the twelve months to the round's date. [How we read rounds](https://millionrounds.com/methodology) · [Report a mistake](https://millionrounds.com/corrections)