Startup Trends: Top funding rounds of Q1 2025
The latest companies listed on Forge Global that have witnessed recent funding activity specialize in the sectors of artificial intelligence, defense, sustainable mining and biotech. These companies represent some of the largest funding hauls in the first quarter of this year with $5.46 billion in capital raises combined.
Anthropic secures $3.5 billion to advance AI capabilities
Anthropic, a leader in artificial intelligence and chat tools, raised $3.5 billion in a funding round led by Lightspeed Venture Partners this month.1 It is one of the largest funding rounds of the quarter to date.
The startup is at the forefront of developing advanced AI systems, and this funding signals strong investor confidence in the continuing demand for AI-driven solutions. Most recently, Anthropic has made strides toward the safety of its products. In February 2025, the company announced a new safety feature called “classifier” which monitors and prevents AI models from providing harmful content.
The San Francisco, California-based company has notable investors such as Bessemer Venture Partners, Cisco Investments, Fidelity Investments and D1 Capital Partners.
Founded in 2021, Anthropic’s Forge Price™ is $60.57 as of March 12, 2025, implying a valuation of $66.42 billion.
Saronic raises $600 million for autonomous defense systems
Saronic, a company specializing in autonomous surface vessels for defense applications, secured $600 million in a Series C round last month led by Elad Gil, bringing its total valuation to $4 billion.2 With defense technology increasingly embracing autonomy, this investment highlights growing interest in national security and maritime defense advancements.
This latest funding round comes on the heels of the startup’s $175 million Series B funding round achieved in July of 2024 which put the company in unicorn status given the post-money valuation of $1 billion at the time.3
The Austin, Texas-based startup plans to use the capital towards a next-generation shipyard capable of deploying unmanned ships for defense strategies.
Founded in 2022, Saronic’s latest funding round gives the startup a price per share price of $15.49. Its notable investors include Andreessen Horowitz, 8vc, Point72 Ventures and Silent Ventures.
KoBold Metals secures $537 million to accelerate sustainable mining
Kobold Metals, an AI-driven mineral exploration company, raised $537 million in January in a Series C funding round, pushing its valuation to $2.96 billion. KoBold aims to discover critical minerals essential for renewable energy, leveraging AI to revolutionize the mining sector.4
Founded in 2018, the Berkeley, California-based startup, backed by tech billionaires Bill Gates and Jeff Bezos, hopes that the surge of capital will speed its mission to attain more minerals such as copper, lithium and nickel. These minerals are vital as energy sources for mobile phones and EV vehicles.
The latest funding haul brings KoBold’s price per share to $78.58. The company’s investors include Andreessen Horowitz, Bond Capital, Redefine Ventures and Standard Investments.
Eikon Therapeutics lands $350.7 million to expand drug discovery pipeline
Eikon Therapeautics, a biotechnology company utilizing advanced imaging technologies for drug discovery, secured $350.7 million in a Series D funding round. The investment will be used to advance its clinical trials and expand its drug development pipeline, reinforcing its potential to reshape pharmaceutical innovation.5
The private company, based in Hayward, California, has early-stage therapeutic candidates in development such as DNA repair methods for various cancers according to the firm’s website.
Founded in 2019, the private company’s latest funding round brought its price per share to $5.84. The firm’s notable investors include Horizon Ventures, Lux Capital, T. Rowe Price Associates and General Catalyst.
Lambda Labs raises $480 million to scale AI infrastructure
Lambda Labs, a company providing cloud computing services and AI hardware, secured $480 million in a Series D round last month co-led by Andra Capital and SGW. The funding places the company with a post-money valuation of $2.5 billion.6 With AI development requiring increasing computational power, Lambda is well-positioned to support cutting-edge AI advancements.
Developers use Lambda Labs to train AI models for use within enterprise workloads around the world with processing efficiency. Its products include its Vector series computers and cloud servers.
Founded in 2012 and based in San Francisco, California, Lambda’s Forge Price™ is $24.00 implying a valuation of $3.33 billion. The firm’s investor roster includes Alumni Ventures, G Squared, Bloomberg Beta and Alpha Square Group.
