Top 10 funding rounds of the week highlight AI, defense and infrastructure investments

This week’s largest startup funding rounds saw significant investments in AI, defense technology and infrastructure. Castelion, a defense tech startup developing hypersonic missile systems, led the pack with an $800 million Series C round, backed by JPMorgan Chase, Andreessen Horowitz and Carlyle, which valued the company at $13 billion. Etched, a semiconductor company focused on AI inference clusters, raised $700 million, setting a $21 billion valuation. Higgsfield, an AI video-creation platform, secured $400 million in Series B funding, reaching a $5.4 billion valuation. Groq, a global data center operator, raised $350 million, valued at $3.5 billion. Wispr Flow, an AI voice-to-text tool provider, closed a $280 million Series B round at a $2 billion valuation. Muon Space, a satellite company, raised $250 million in Series C funding, led by Eclipse, and expanded its manufacturing capacity in San Jose. Also, a Rivian spinout producing electric bikes and micromobility vehicles, secured $150 million in Series D funding. Velaura AI, an AI compute infrastructure developer, raised $110 million in Series A, valued at over $1 billion. Rillet, an AI-powered enterprise resource planning tool developer, raised $100 million in Series C, led by Iconiq Capital, reaching a $1 billion valuation. Happy Health, a sleep apnea diagnostic and treatment device company, raised $75 million from Arch Venture Partners and OpenLoop. The funding rounds were tracked from August 15 to 21, with some announcements delayed due to reporting timelines.