# Startup funding, week of 19 October: Tenstorrent's $1.5B Series E leads 220 rounds

> We read 220 equity rounds announced from 19 October to 25 October 2026, raising $11B between them.

Source: https://millionrounds.com/news/weekly/2026-10-19 (Millionrounds; every figure on the page links to its filing or article)

Equity rounds **220** announced this week, 181 with an amount

Raised **$11B** across those rounds

Lead named **71%** of rounds say who led

Countries **38** where this week's rounds were raised

## The biggest rounds

- [1 **Tenstorrent** Series E · United States · led by InnovationX, Trace Capital **$1.5B**](https://millionrounds.com/company/tenstorrent)
- [2 **Flapping Airplanes** Series A · United States · led by Index Ventures, Lux Capital **$1.0B**](https://millionrounds.com/company/flapping-airplanes)
- [3 **Kalshi** Series G · United States · led by Sequoia Capital, Wellington Management **$1.0B**](https://millionrounds.com/company/kalshi)
- [4 **Legora** Series E · Sweden · led by Atreides Management **$550M**](https://millionrounds.com/company/legora)
- [5 N **Neolix** Series E · China · led by Boyu Capital, China's National Artificial Intelligence Industry Investment Fund **$400M**](https://millionrounds.com/company/neolix)
- [6 **Platform Accounting Group** Growth · United States · led by Treville Capital Group **$355M**](https://millionrounds.com/company/platform-accounting-group)
- [7 **ASI** Series C · United States · led by Spark Capital **$325M**](https://millionrounds.com/company/asi)
- [8 **Otter.ai** Growth · United States · led by General Catalyst, General Catalyst's Customer Value Fund (CVF) **$320M**](https://millionrounds.com/company/otter-ai)
- [9 **Ajaib** Series C · Indonesia **$270M**](https://millionrounds.com/company/ajaib)
- [10 **Pigment** Series E · France · led by EQT Ventures, Scaleup Europe Fund **$250M**](https://millionrounds.com/company/pigment)

## By stage, against the year

Each stage's median this week beside its median over the last twelve months. A single week is a small sample, so read the gap as a hint, not a trend.

[Pre-seed](https://millionrounds.com/benchmarks/pre-seed) *49* **$2.1M** this week **$2.0M** 12-month median

[Seed](https://millionrounds.com/benchmarks/seed) *65* **$4.1M** this week **$5.5M** 12-month median

[Series A](https://millionrounds.com/benchmarks/series-a) *52* **$20M** this week **$20M** 12-month median

[Series B](https://millionrounds.com/benchmarks/series-b) *10* **$55M** this week **$50M** 12-month median

[Series C](https://millionrounds.com/benchmarks/series-c) *10* **$83M** this week **$100M** 12-month median

[Series D](https://millionrounds.com/benchmarks/series-d) *7* **$135M** this week **$158M** 12-month median

[Growth](https://millionrounds.com/benchmarks/growth) *20* **$40M** this week **$108M** 12-month median

## The most active leads

Firms that led two or more of the week's rounds.

- [**Sequoia Capital** Blacksmith, Kalshi, Whop *3 led*](https://millionrounds.com/fund/sequoia-capital)
- [**Lightspeed Venture Partners** Nirva, Warp Sciences, doubleAI *3 led*](https://millionrounds.com/fund/lightspeed-venture-partners)
- [**Tether** Mural, Peso *3 led*](https://millionrounds.com/fund/tether)
- [**Y Combinator** Databuddy Analytics *2 led*](https://millionrounds.com/fund/y-combinator)
- [**General Catalyst** Different, Otter.ai *2 led*](https://millionrounds.com/fund/general-catalyst)
- [**Khosla Ventures** Arda Industries Inc., Even Healthcare *2 led*](https://millionrounds.com/fund/khosla-ventures)
- [**Founders Fund** Arda Industries Inc., Coherence Neuro *2 led*](https://millionrounds.com/fund/founders-fund)
- [**FirstMark** Baba, Daytona *2 led*](https://millionrounds.com/fund/firstmark)

## Where

- United States **86**
- South Korea **13**
- United Kingdom **13**
- India **10**
- Japan **8**
- Brazil **6**

United States had the most rounds this week.

## In what

- AI **124**
- Fintech **28**
- Software **22**
- Healthcare **19**
- Manufacturing **19**
- SaaS **18**
- Robotics **18**
- Biotech **17**

AI was the busiest sector.

**How this roundup is made**

It is written from the rounds we read that week 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)