United States: 10 Fundraises of the Week, Modal Labs Leads

Key Takeaways

1Modal Labs raises $750M in the largest funding round of the week in the United States

2Icon follows with $200M, with only two financings exceeding $200M

3Biotechnology, insurance, and AI concentrate the main amounts

Why it matters : These financings illustrate the current priorities of American investors, with a marked focus on AI and health, in a context of generally tighter funding.

The week of October 10 to 16 delivered a top 10 dominated by AI infrastructure, with Modal Labs taking the lead. Only two funding rounds exceeded several hundred million, while biotech, insurance, and AI concentrated the largest tickets. The ranking is based on rounds announced by companies based in the United States, with a slight delay possible in reporting.

The Scope: United States, October 10–16, Crunchbase Data

The ranking covers the period from October 10 to 16, 2026. It relies on the largest announced rounds recorded in the Crunchbase database for companies based in the United States. Announcements may experience slight delays in publication, with some rounds reported at the end of the week.

Four Rounds Between $60 and $82M in Insurance, Semiconductors, and Expense Management

Abby Care closed a Series C round of $82 million, led by Transformation Capital, as reported by Fortune. This home care service, founded five years ago in San Francisco, offers family members the opportunity to become certified caregivers and receive compensation. Stand, an insurance company specializing in coverage for areas at high risk of natural disasters, raised $70 million in a Series C, achieving a valuation of $1 billion under the leadership of Saga Ventures; this company, also based in San Francisco, has been around for three years. On the tech side, Mueon Corp., based in Portland, completed a $65 million Series A led by Maverick Silicon for its modular platform aimed at AI and hyperscale computing. Finally, North.cloud, based in New York, raised $60 million in Series B led by PeakSpan Capital for its infrastructure expense intelligence and automation platform.

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Above $90M: Health, Data, and Gene Therapies

Suki, located in Redwood City, announced a $90 million Series E, with backers such as Healthier Capital and Crosslink Capital, for AI tools transforming clinical conversations into actionable data for documentation and coding. Labelbox, an 8-year-old company based in San Francisco, raised $100 million in Series E under the guidance of Infinitum Partners for its training, AI model evaluation, and deployment of learning agents technologies. Estuary Biotherapeutics, based in Menlo Park, launched its operations with $103 million, including $93 million in Series A led by RA Capital Management and $10 million in previously undisclosed seed funding, to develop genetic medicines for patients with severe kidney diseases.

Two Powerhouses: Modal Labs at $750M and Icon at $200M

Modal Labs marks the largest round of the week, raising $750 million in Series D led by Accel. The New York-based company provides cloud infrastructure for AI inference and was valued at $15.75 billion after recently surpassing $1 billion in annual revenue. Icon follows with $200 million in Series D, a round led by Baillie Gifford and BlackRock. The Austin-based company, known for its robotic construction systems and 3D-printed homes, claims to target a 4x growth in revenue by 2026.

Tightening Tickets and Driving Sectors

Funding amounts contracted this week, with only two deals reaching several hundred million dollars. The largest financings are concentrated around AI, biotechnology, and insurance.