Atoms funding round leads U.S. startup megadeals with $1.7 billion
Crunchbase says Travis Kalanick’s Atoms raised $1.7 billion, topping a week of large U.S. venture rounds across AI, biotech and fintech.
By Jordan Bell · Startups & Deals Reporter
· 3 min read
The Atoms funding round was the clear standout in a busy week for private-market deals, according to Crunchbase, giving retail investors another signal that venture capital is still chasing AI tied to real-world industry. The Los Angeles-based physical AI startup, founded by Uber founder Travis Kalanick, raised $1.7 billion in a round led by Andreessen Horowitz.
Crunchbase tracked the largest announced funding rounds for U.S.-based companies from July 18 through July 24. The week’s biggest checks went to companies working in physical AI, AI-generated 3D models, battery materials, AI infrastructure, fintech, defense technology, biotech, healthcare software and cybersecurity.
What is Atoms and how big was its funding round?
Atoms is described by Crunchbase as a physical AI company. In plain English, physical AI refers to artificial intelligence used for industrial systems, machines or real-world operations rather than only software tasks on a screen.
Kalanick said the company’s vision is “about the coming industrial revolution where large industrial economic sectors get completely digitized.” Crunchbase said Andreessen Horowitz led the $1.7 billion financing.
The scale matters because private funding rounds can shape which companies have the cash to build factories, hire engineers or compete for AI infrastructure before they ever reach public markets. For everyday investors, these rounds are not trade signals, but they do show where large venture firms are placing capital.
Which other startups raised the largest rounds?
Meshy AI: Crunchbase said the Silicon Valley company raised $400 million in Series B funding at a $1.5 billion valuation. The startup builds foundation models for AI-powered 3D generation, with Monolith Capital, IDG Capital and Matrix Partners China listed among lead backers.
Sila: The Alameda, California battery technology company secured $300 million in new funding led by Atreides Management and Sutter Hill Ventures, according to Crunchbase. Sila plans to use the capital to expand its silicon anode plant in Moses Lake, Washington.
Etched: The San Jose company raised $300 million in Series C funding led by Sequoia Capital, Crunchbase said. The round valued Etched at $10 billion before the new money was added. That figure is called a pre-money valuation.
Augustus: The San Francisco fintech raised $180 million in Series B funding led by Tiger Global, according to Crunchbase. The round valued the company, which provides financial institutions with direct access to dollar accounts, at $1 billion.
Cathedral: Reuters reported that the Washington, D.C. defense technology startup raised $160 million from backers including Sequoia Capital and Andreessen Horowitz. Reuters also reported that the company was founded by former DOGE employees and is focused on U.S. military cyber capabilities.
Crystalys Therapeutics: The San Diego biotech closed an oversubscribed $130 million Series B round led by Frazier Life Sciences, Crunchbase said. The company is developing therapies for people living with gout.
Candid Health: The San Francisco healthcare software company raised $120 million in Series D funding led by Sixth Street Growth, according to Crunchbase. Candid Health makes a revenue cycle management platform for the healthcare industry.
Glow: The Palo Alto cybersecurity startup emerged from stealth and said it has raised $180 million to date. Crunchbase said $100 million of that total came from its newest financing, with Sequoia Capital, Cyberstarts, Greenoaks and Redpoint among lead backers.
Neo Security: Crunchbase listed Boston-based Neo Security among the week’s largest cybersecurity rounds, describing it as a company building an agentic software control platform for enterprises. Crunchbase’s roundup listed the round at $75 million in the ranking, while also saying the company picked up $100 million led by Bessemer Venture Partners and Andreessen Horowitz.
Crunchbase said its list is based on announced rounds in its database for U.S.-based companies during the July 18-24 period. The firm noted that late-week announcements can create a small delay before every round appears in the database.
This story draws on original reporting from Crunchbase News.
