Databricks Raises $5 Billion, River AI $1.1 Billion; This Week in Funds

Two deals outside the United States make their mark among the largest rounds of the period: Lovable ($400M) and Cambridge Aerospace ($300M), with a purchase commitment from the British Ministry of Defense. On the American side, Databricks signs a new round of $5B for a valuation of $190B, while River AI raises $1.1B in its seed and Series A rounds. The sequence spans from August 8 to August 14 according to the monitored scope, with a possible delay in the publication of some rounds.

Outside the United States, Lovable and Cambridge Aerospace secure $400M and $300M

Lovable has completed a Series C funding round of $400 million led by EQT and Menlo Ventures, valuing the company at $13.3 billion. Based in Stockholm, the company claims 900 million monthly visits and 60 million projects created. In December 2025, its Series B co-led by Menlo Ventures had valued it at $6.6 billion. In the UK, Cambridge Aerospace raised $300 million in Series C led by DFJ Growth. The two-year-old defense technology company had raised $200 million in Series B in April, led by Spark Capital and Gil Capital. Since then, the British Ministry of Defense has committed to purchasing its Skyhammer system to intercept slow-moving drones and missiles.

Defense: Neros raises $250M, aims for 1 million drones per year by 2028

Defense drone manufacturer Neros Technologies has raised $250 million in Series C, led by American Strategic Technology Fund and Sequoia Capital. Based in Los Angeles and founded in 2023, the company has raised $370 million to date, according to Crunchbase. Neros announced its goal of building 1 million drones per year by 2028. It has contracts with the U.S. military and allied countries in Europe, Asia, and the Middle East.

Software and AI Interconnections: CodeRabbit and Point2 funded

CodeRabbit, a company offering an open-source AI code review solution, has finalized a Series C funding round led by Atomico and Smash Capital. Located in Walnut Creek, the company states that its platform is adopted by 150,000 open-source projects and 17,000 clients, and it plans to establish an office in London based on European demand. Regarding infrastructure, Point2 Technology, specializing in interconnection systems for AI data centers, has secured an extension of its Series B, led by LB Investment (Korea), with a strategic contribution from Arm Holdings and participation from the existing fund Maverick Silicon. Based in San Jose, the company has raised a total of $136 million in its Series B.

Energy and Health: $750M for Form Energy, rounds in biotechnology

Form Energy, based in Massachusetts, has raised $750 million in Series G led by T. Rowe Price. The company is building 100-hour batteries for electricity storage on the grid. The round includes a wide range of investors, including Blindspot Ventures, Breakthrough Energy Ventures, Energy Impact Partners, GE Vernova, Gigascale Capital, NGP Energy Technology Partners, Prelude Ventures, and TPG Rise Climate Fund. In health, Bridge to Life, a 21-year-old company based in Illinois, has raised $100 million in Series C led by Soleus Capital and Lauxera Capital Partners. It is developing an organ viability assessment tool and plans to expand its VitaSmart technology to U.S. transplant centers. Aureka Biotechnologies, an AI-native drug discovery platform based between Shanghai and California, has raised $100 million in Series B led by Granite Asia. Three years old, it has raised $200 million to date and aims to train its model with a laboratory feedback mechanism. Epicrispr Biotechnologies, based in San Francisco, has raised $90 million in Series C led by Janus Henderson Investors and Octagon Capital Advisors to develop treatments for neuromuscular diseases through gene modulation. In financial services, PointsKash, based in Florida, has raised $100 million from private equity investors led by Hawk Capital Investors and offers in-store kiosks for cash, loans, and rewards.

Data and AI: Databricks valued at $190B, River AI at $1.1B

Databricks has secured $5 billion in funding led by Coatue, with participation from Blackstone, MGX, T. Rowe Price, and Sixth Street Growth, a new entrant, bringing its valuation to $190 billion. This San Francisco-based company reports having surpassed $7 billion in annual revenue, with growth exceeding 80% in the second quarter. Its valuation was $134 billion in December 2025, when it announced it had exceeded $4.8 billion in revenue. Founded 13 years ago, Databricks raised $13 million in its Series A in 2013 and approximately $25 billion in total according to Crunchbase. Eight months prior, it had already completed a $5 billion round. Meanwhile, River AI has raised $1.1 billion in its seed and Series A rounds, led by AMP PBC and General Catalyst, with strategic investments from Nvidia and AMD Ventures. Founded earlier this year by Igor Babuschkin, who worked at Google DeepMind, OpenAI, and xAI, the Palo Alto-based company aims to design a personalized AI trained directly on the tasks to be performed, with a device giving control to the end user.

Monitored scope from August 8 to 14 and sector reminders

The amounts presented pertain to the largest rounds announced in the Crunchbase database for companies based in the United States during the period from August 8 to August 14. Most of the rounds are included, with a slight possible delay when some are reported late in the week. Beyond AI and data, the largest funding rounds of the period also cover an AI neolab, a project for a data center and electricity storage, as well as players in defense, coding, and biotechnology.