◆ Firmus Technologies Growth Equity ($2.0B) leads the startup tape
The tape shows 12 priced rounds across the most recent dated rounds, $5.0B in disclosed capital. Front of the tape: Cambridge Aerospace (Series C, $300M, led by DFJ Growth); Edgify (Series A, $9M, led by Rank Ventures and Mangrove Capital Partners); Visoid (Funding round, $3M, led by Skyfall Ventures). AI absorbed the most capital.
◆ Capital by Sector
Disclosed round capital in the window. Undisclosed amounts count as zero.
◆ Round Sizes
Disclosed rounds in the window · every bar opens the company's live page.
◆ The Funding Tape — Freshest dated rounds
The tape shows 12 priced rounds across the most recent dated rounds, $5.0B in disclosed capital. Front of the tape: Cambridge Aerospace (Series C, $300M, led by DFJ Growth); Edgify (Series A, $9M, led by Rank Ventures and Mangrove Capital Partners); Visoid (Funding round, $3M, led by Skyfall Ventures). AI absorbed the most capital.
Where the window's activity sits on the funding ladder: deal count (solid) against disclosed capital (faded) per stage, with the companies behind each cluster. Stages come from the reported round labels; undisclosed amounts count as zero capital.
The Silicon Valley Private Market Daily — the 8pm PT desk close: qualified raises, roster re-rates and sector velocity from the QL private-market pipeline.
💰 Notable Raises
Queue — $12.6M Seed. World's first fully autonomous robotic pharmacy Queue emerged from stealth with $12.6 million to commercialize autonomous robotic pharmacy systems.
METR — $71M. METR raised $71 million to advance research into autonomous AI capabilities and recursive self-improvement monitoring.
🔍 Reported, not yet verified
Indian EV startup River — reported $120M Series C; details did not clear cross-source verification — held for manual review, excluded from the dataset.
Naïve — reported $28.5M Series A; details did not clear cross-source verification — held for manual review, excluded from the dataset.
Thrive Holdings — reported $2B; details did not clear cross-source verification — held for manual review, excluded from the dataset.
River — reported $120M Series C; details did not clear cross-source verification — held for manual review, excluded from the dataset.
Jedify — reported $24M; details did not clear cross-source verification — held for manual review, excluded from the dataset.
📈 Valuation Watch (in-progress, not yet closed)
Databricks — raising ~$5B. Databricks secured a massive $5 billion raise at a $190 billion valuation, supported by a revenue run rate exceeding $7 billion. _(in talks / not closed)_
Tenstorrent — raising ~$800M. Tenstorrent is in advanced funding talks for an $800 million round, underscoring high demand for alternative AI chip architectures. _(in talks / not closed)_
Starcloud — raising ~$200M. Two-year-old Starcloud is in talks to raise at least $200 million at a $2.2 billion valuation, highlighting interest in orbital infrastructure. _(in talks / not closed)_
Base Power —. Home battery startup Base Power is in talks for funding at a $12 billion valuation. _(in talks / not closed)_
Physical Intelligence —. Robotics startup Physical Intelligence is in funding talks targeting a $5 billion valuation. _(in talks / not closed)_
📊 Valuation re-rates (roster marks that moved)
Firmus Technologies — $5.5B (2026-Q1) → $10.5B (+91%) on Growth Equity led by Nvidia & Coatue.
Hadrian — $1.6B (2025-Q3) → $7.9B (+392%) on Series D led by JPMorgan Strategic Investment Group.
HappyRobot — $500M (2025-Q3) → $1.2B (+140%) on Series C led by Prysm Capital.
K2 Space — $3B (2025-Q4) → $6.8B (+127%) on Series D led by Kleiner Perkins / ICONIQ Capital.
Anthropic — $965B (2026-Q2) → $1000B (+4%) on Strategic Investment led by AMD.
Baseten — $5B (2026-Q1) → $13B (+160%) on Series F led by Altimeter Capital, Conviction, Spark Capital.
Prometheus — $38B (2026-Q2) → $41B (+8%) on Funding led by Jeff Bezos.
Anduril Industries — $30.5B (2025-Q2) → $61B (+100%) on Series H led by Thrive Capital & Andreessen Horowitz.
Vapi — $130M (2024-Q4) → $500M (+285%) on Series B led by Peak XV Partners.
✦ Robotics — $1.4B across 1 round / 1 company (new, new vs. a quiet prior window). Top: NEURA Robotics $1.4B (Series C).
✦ Defense / Industrials — $1.4B across 1 round / 1 company (new, new vs. a quiet prior window). Top: Hadrian $1.4B (Series D).
🚀 New / Stealth Companies
No fresh stealth intake surfaced this window.
🧭 Macro read
The private market is currently defined by an extreme concentration of capital into AI infrastructure and hardware, evidenced by multi-billion dollar raises (Databricks, Thrive Holdings, Tenstorrent) and high valuation targets for robotics (Physical Intelligence) and energy (Base Power). There is significant market uncertainty regarding the sustainability of these mega-valuations, with massive capital commitments occurring against a backdrop of executive departures at key firms and a surge of thousands of daily startup registrations.
🗂️ Dataset updated: added 1 company to the QuantLogix private-companies list — Queue — 2,131 → 2,132. Append-only.
100 tracked names flagged for markdown risk — 121 scored nightly, 2011 left unscored (no comp bridge). Down rounds are recorded in the open ledger — receipts only work in public. Live boards: markdown-watch · down-round-ledger.
Click a column to sort · third click restores rank order
Firmus Technologies priced a Growth Equity at $2.0B in AI. If you are raising in the same lane, that round is the live comp your next term sheet gets measured against.
AI is where the capital went
$2.7B of the window's disclosed capital landed in AI. Investor attention clusters — pitch where the momentum already is, or explain clearly why you sit outside it.
Watch the markdown ledger
100 tracked names sit on Markdown Watch — Linktree tops the board at 86/100 (High risk). Secondary pricing leads primary pricing — stale marks eventually clear, in one direction or the other.
◆ Outlook
Tomorrow’s edition re-reads the tape at 6:30am PT. Rounds land unevenly — judge the week, not the day.
QuantLogix briefings are educational market commentary generated from live data, not investment advice. Private-market figures come from public reporting and the QuantLogix private-company dataset; amounts and valuations are as-reported, not audited. Markets carry risk of loss.