Startup investors aren't exactly hitting pause, but they did scale back on giant rounds this past week, with just two startup financings in the multiple hundreds of millions. The biggest round went to AI infrastructure provider Modal Labs, which picked up $750 million, followed by construction automation unicorn Icon, which secured $200 million. Other sectors that attracted larger rounds this past week included biotech, insurance and AI. 1. Modal Labs, $750M, AI infrastructure: Modal Labs, a provider of cloud infrastructure for AI inference and other applications, secured $750 million in a Series D funding round led by Accel at a $15.75 billion valuation. The New York-headquartered company said it recently exceeded an annual revenue run rate of $1 billion. 2. Icon, $200M, construction tech: Austin-based Icon, a developer of robotic construction systems known for its 3D-printed homes, closed on $200 million in Series D funding led by Baillie Gifford and BlackRock. The company says it...
learn more
