Technology Private Placement and M&A Transactions Review Week Ending October 26, 2025

OpenAI: The company raised $40 billion of venture funding in a deal led by Dragoneer Investment Group, Thrive Capital and SoftBank Group on October 26, 2025, putting the company’s pre-money valuation at $260 billion. Microsoft, Fidelity, Coatue Management, Helios Ventures, East River Venture Partners, SaxeCap, Blackstone, TPG, Stripes, Alpha Wave Global, Goanna Capital, Crescenta, Portage Equity Partners, Realm Capital Ventures, Small World Capital, Optimist Ventures (New York), 535West, SquareOne Capital, J.P. Morgan Growth Equity Partners, Keybridge Venture Partners, T2D3 Ventures, Cosmic Venture Partners, Adasel Global Partners, Okeanos (United States), SV8, Anti Fund, Pegasus Tech Ventures, Rosecliff Venture Partners, Futurum Capital, BOND Capital (San Francisco), Morrison Seger, Pari Passu Venture Partners, HiJoJo Partners, Tides Ventures, Orbita Verticale, Beyond Capital, MGX, Altimeter Capital Management, Tiger Global Management, Sequoia Capital, Andreessen Horowitz, Founders Fund, Orange DAO, The User Syndicate, Washington Harbour, Magnetar Capital, Saudi Arabia’s Public Investment Fund, Pittco Management, Banca Investis, D1 Capital Partners, T. Rowe Price Group and BFA Global Investors also participated in the round. The company is a developer of machine learning systems designed for general-purpose artificial intelligence applications.

Sesame AI: The company raised an estimated $250 million of Series B venture funding in a deal led by Spark Capital and Sequoia Capital on October 21, 2025, putting the company’s pre-money valuation at an estimated $598 million. The company is a developer of conversational artificial intelligence voice assistants and companion applications capable of natural language interaction.

Uniphore: The company raised $260 million of Series F venture funding in a deal led by Nvidia on October 22, 2025, putting the company’s pre-money valuation at $2.24 billion. Prosperity7 Ventures, Databricks, Snowflake Ventures, Advanced Micro Devices, National Grid Partners, New Enterprise Associates, March Capital and BNF Capital also participated in the round. The company is a developer of artificial intelligence-powered conversational automation and speech analytics software for contact centers and enterprise customer service operations.

Fal: The company raised $250 million of venture funding from Kleiner Perkins and Sequoia Capital on October 21, 2025, putting the company’s pre-money valuation at $3.75 billion. The company is a developer of generative artificial intelligence infrastructure for creating and deploying media generation models including video, image, and audio content.

Xanadu: The company is reportedly in the process of raising $200 million of venture funding by an undisclosed investor on October 25, 2025. The company is a developer of photonic quantum computing hardware and cloud-accessible quantum computing platforms.

Seneca: The company raised $60 million of Series A venture funding in a deal led by Caffeinated Capital and Convective Capital on October 20, 2025. Advance Venture Partners, NextView Ventures, Bullpen Capital, DCVC, Offline Ventures, Slow Ventures, Roar Ventures, Transition Global, First Round Capital, Transition VC and StepStone Group also participated in the round. The company is a developer of autonomous drone systems and artificial intelligence software for wildfire detection, monitoring, and firefighting support operations.

Hyro: The company raised $45 million of Series B venture funding in a deal led by Healthier Capital on October 21, 2025, putting the company’s pre-money valuation at $199.5 million. Bon Secours Mercy Health, ServiceNow Ventures, Norwest, Define Ventures, and other undisclosed investors also participated in the round. The company is a developer of conversational artificial intelligence platforms that automate customer interactions across digital channels for healthcare and enterprise clients.

ChipAgents: The company raised $21 million of Series A venture funding in a deal led by Bessemer Venture Partners on October 21, 2025. Micron Technology (Computer Hardware), Ericsson, MediaTek, ScOp Venture Capital, Amino Capital, Wally Rhines, Raúl Camposano and Jack Harding also participated in the round. The company is a developer of artificial intelligence-powered design automation tools for semiconductor chip design, verification, and hardware engineering workflows.

Coverbase: The company raised $20 million of venture funding from TTV Capital, Fika Ventures and Lockstep on October 25, 2025. Canapi Ventures and Pear also participated in the round. The company is a developer of artificial intelligence-powered procurement software that automates purchasing workflows, vendor management, and compliance monitoring for enterprises.

SenseNet: The company raised $14 million of Series A venture funding in a deal led by Stormbreaker Ventures on October 22, 2025. Thin Line Capital, B Current Impact Investment, Plaza Ventures, Fusion Fund and FOLD36 Capital also participated in the round. The company is a developer of artificial intelligence-powered wildfire detection systems using sensor networks and computer vision for early fire identification and emergency response.

Now.gg: The company raised $12 million of venture funding from undisclosed investors on October 21, 2025. The company is an operator of a cloud gaming platform enabling mobile games to run in web browsers without downloads or installations.

2Pi Optics: The company raised $11.7 million of Series A venture funding from undisclosed investors on October 21, 2025, putting the company’s pre-money valuation at $32.8 million. The company is a developer of metasurface optical components and flat lens technology for compact imaging systems and optical devices.

Vermeer: The company raised $10.6 million of Series A venture funding in a deal led by Draper Associates on October 23, 2025. Aero X Ventures, Boscolo Intervest, Highpoint Ventures, Rockaway Ventures and U.S. Air Force Tech Stars also participated in the round. The company is a developer of GPS technology designed for the use of drones and unmanned systems in anti-access and area denial  environments.

Letter AI: The company raised $10.6 million of Series A venture funding in a deal led by Stage 2 Capital on October 21, 2025. Northwestern Mutual Future Ventures, Lightbank (Venture Capital), Mangusta Capital, Formus Capital, Y Combinator and other undisclosed investors also participated in the round. The company is a developer of generative artificial intelligence software that automates sales content creation and outreach messaging for enterprise sales teams.

Wolf Games: The company raised $9 million of Series A venture funding in a deal led by Main Street Advisors on October 22, 2025. Dick Wolf, Jimmy Iovine, Paul Wachter, Maverick Carter, Thomas Werner and Rashid Johnson also participated in the round. The company is a developer of artificial intelligence-powered game development tools for creating narrative-driven interactive gaming experiences.

May Mobility: The company raised an undisclosed amount of venture funding from Grab Ventures and Itochu on October 23, 2025. The company is a developer of autonomous vehicle technology and operates self-driving shuttle services for urban transportation.

Overfuel: The company received an undisclosed amount of development capital from Recurring Capital Partners on October 24, 2025. The company is an operator of a no-code website builder and e-commerce platform combining digital storefront creation with analytics and customer management tools.

Retentics: The company raised an undisclosed amount of Series A venture funding in the form of convertible debt from EFG, Smilegate Investment and Laguna Investment on October 22, 2025. The company is a developer of artificial intelligence-powered business process optimization and workflow automation software.

U-blox / Advent International: The company was acquired by Advent International through a CHF 1 billion LBO on October 20, 2025. u-Blox Holding AG is a manufacturer of wireless communication semiconductors, positioning chips, and modules for automotive, consumer electronics, and industrial IoT applications.

The Browser Company / Atlassian: The company was acquired by Atlassian for $610 million on October 21, 2025. The company is a developer of Arc, a web browser featuring tab management, workspace organization, and productivity tools.

Aviva Links / NXP Semiconductors: The company was acquired by NXP Semiconductors, a subsidiary of NXP, for $243 million on October 24, 2025. The company is a developer of vehicle-to-everything  communication technology and connectivity solutions for connected and autonomous vehicles.

Aana / Dropbox: The company was acquired by Dropbox for an undisclosed amount on October 23, 2025. The company is a developer of computer vision and image recognition technology for automated visual content analysis and organization.

Ayrshare / SaaS.group: The company was acquired by SaaS.group through an LBO on October 22, 2025 for an undisclosed amount. The company is a developer of API-based social media management and scheduling software for digital agencies and marketing platforms.

Dgraph / Istari Digital: The company was acquired by Istari Digital for an undisclosed amount on October 23, 2025. The company is a developer of an open-source graph database optimized for low-latency queries and complex data relationship visualization.

Graft / you.com: The company was acquired by you.com for an undisclosed amount on October 21, 2025. The company is a developer of cloud-based unstructured data analysis and extraction software for processing documents and enterprise content.

Hello Wonder / Noggin: The company was acquired by Noggin, a subsidiary of Paramount Skydance, for an undisclosed amount on October 23, 2025. The company is a developer of artificial intelligence-powered content filtering and parental control platforms for children’s digital media consumption.

Kontera / Bexio: The company was acquired by Bexio for an undisclosed amount on October 20, 2025. The company is a provider of in-text advertising technology that identifies and monetizes keywords within publisher web content.

Metaculars / Skan: The company was acquired by Skan for an undisclosed amount on October 20, 2025. The company is a provider of artificial intelligence-powered creative automation software for managing and producing multi-channel advertising campaigns.

Monolith AI / CoreWeave: The company was acquired by CoreWeave for an undisclosed amount on October 23, 2025. The company is a developer of machine learning software for predictive engineering simulation and physics-based design optimization.

Pixel Power / Imagine Communications: The company, a subsidiary of Rohde & Schwarz, reached a definitive agreement to be acquired by Imagine Communications, a subsidiary of GatesAir, for an undisclosed amount on October 20, 2025. The company is a provider of software-based broadcast graphics, playout automation, and media processing solutions for television and streaming media in Cambridge, United Kingdom.

Reality Sports Online / Mobile Global Esports: The company reached a definitive agreement to be acquired by Mobile Global Esports for an undisclosed amount as of October 20, 2025. The company is an operator of fantasy sports gaming platforms and develops reality-based sports simulation products.

Sign / Nagish: The company was acquired by Nagish for an undisclosed amount on October 22, 2025. The company is a developer of artificial intelligence-powered translation technology enabling real-time communication between spoken languages and sign language.

Software Applications / OpenAI: The company was acquired by OpenAI for an undisclosed amount on October 23, 2025. The company is a developer of task automation and workflow integration software combining artificial intelligence with enterprise application connectivity.

Starchive / The Crypto Company: The company was acquired by The Crypto Company for an undisclosed amount on October 20, 2025. The company is a provider of digital asset management and media archiving software for content owners and media organizations.

The Game Box Group / Veltmeijer Group: The company was acquired by Veltmeijer Group for an undisclosed amount on October 21, 2025. The company is an operator of gaming entertainment venues and provides multi-location gaming facility access services throughout the Netherlands.