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Ema, which builds coordinated AI agent systems it calls 'AI employees' to automate HR, IT, and finance workflows, has closed a $77 million Series B funding round. The round, led by Creaegis with participation from existing backers Accel, Section 32, and Prosus, was all-primary equity and pushes Ema's total funding to $140 million while more than quadrupling its valuation from 2024.
Verda, a Finland-based AI cloud infrastructure company, closed an oversubscribed $189 million Series B round led by Emergence Capital, with backing from MUFG Innovation Partners, Supermicro, Varma Mutual Pension Insurance, Lifeline Ventures, 6 Degrees Capital, byFounders, Tesi, and several angel investors. The round pushes Verda's total funding past $450 million in combined equity and debt, and values the company at unicorn status, making it one of Europe's newest billion-dollar startups.
Mazama Energy closed an oversubscribed $135 million Series B round led by Centaurus Capital and Doerr Capital, with Vinod Khosla among earlier backers. The funds will support horizontal drilling into super-hot rock formations in Oregon, where each well could generate up to 15 megawatts, and the company now estimates the site could ultimately yield 10 gigawatts of power, double last year's projection.
Health benefits startup Thatch has raised $108 million in new funding at a $1 billion valuation, backed by existing investors including Andreessen Horowitz, General Catalyst, Index Ventures, and The General Partnership. The round comes just 17 months after Thatch was valued at $410 million, with CEO Chris Ellis saying annual recurring revenue grew roughly sevenfold in that span.
Instinct, founded last year by 23-year-old Noah Shinn under parent company Spear Street Technology, has closed a $250 million Series B round led by Index Ventures and Benchmark. The deal pushes the young startup's total funding to $350 million and its valuation to $2.5 billion, driven by buzz around its AI assistant that manages users' schedules, purchases and subscriptions through texts and calls.