It’s Wednesday, September 24, 2025, and we’re back with the top startup and tech funding news stories making waves today. It’s a lighter day on the fundraising front, but capital is still flowing across major sectors. From billion-dollar AI infrastructure plays to fintech, sports, and renewable energy, investors continued to spread capital across both late-stage giants and rising early-stage players.
Today’s highlights feature Modular’s $250 million Series C that values the AI infrastructure startup at $1.6 billion, Cohere’s $100 million late-stage round pushing its valuation to $7 billion, and TRIVER’s £114 million Series A and debt package to expand SME invoice financing. Consumer and enterprise software also took center stage with Synthesized, Emergent, and Trismik collectively raising more than $45 million to accelerate AI-driven development and evaluation platforms. On the global stage, Power Capital closed a €323 million debt facility to build out Irish solar projects, while Big Pi Ventures launched a €130 million growth fund to fuel Greek-founded startups.
Funding Highlights
Modular raised $250 million to expand its cross-hardware AI platform.
Cohere secured $100 million at a $7 billion valuation to scale secure enterprise AI.
TRIVER raised £114 million in equity and debt to accelerate SME cash flow.
Bastion closed a $14.6 million strategic round for enterprise-grade stablecoin infrastructure.
Epic Padel landed $10 million in seed funding to build a U.S. padel club network.
Investor Activity
The day’s financings drew participation from heavyweight funds and corporates, including US Innovative Technology Fund, Lightspeed Venture Partners, Coinbase Ventures, NVIDIA, AMD, and Salesforce. Strategic players like Sony Innovation Fund and Samsung Next doubled down on fintech and digital assets, while Redalpine, Twinpath Ventures, and AlleyCorp anchored early- and mid-stage rounds in Europe and the U.S.
Together, these financings reflect sustained investor conviction across AI infrastructure, fintech, climate tech, and consumer platforms — sectors that continue to attract the deepest pools of capital.
Here’s the full breakdown. Until tomorrow, have a great evening.
Modular Raises $250M in Funding to Simplify AI Deployment Across Hardware
Modular, an AI hardware and software startup founded by former Google and Apple engineers, announced a $250 million financing round that values the company at $1.6 billion. The round was led by Thomas Tull’s US Innovative Technology Fund, with participation from DFJ Growth and existing backers Google Ventures (GV), General Catalyst, and Greylock Venture Partners.
Modular’s platform enables developers to run AI applications across different chips (CPUs, GPUs, NPUs, etc.) without rewriting their software. The fresh capital will accelerate Modular’s R&D and expansion as it seeks to challenge entrenched AI chip players like NVIDIA by making AI compute more flexible across hardware.
Funding Details:
Startup: Modular
Investors: US Innovative Technology Fund (lead), DFJ Growth, Google Ventures, General Catalyst, Greylock Venture Partners
Amount Raised: $250 million
Total Raised: $380 million
Funding Stage: Series C (third round)
Funding Date: September 24, 2025
Synthesized Raises $20M Series A to Automate Enterprise Software Testing
Synthesized, a London- and New York–based AI startup that builds automated software testing tools, closed a Series A round for roughly €17 million (about $20 million) led by Redalpine Venture Partners. The round also included UK backers IQ Capital, Mercia Ventures, and Seedcamp, as well as UBS.
Synthesized’s agentic AI platform generates realistic, regulation-safe test data and full test environments for enterprise applications in minutes, cutting QA time and costs. The new funding will help Synthesized expand in North America and Europe, double its team, and accelerate development of its AI-powered quality assurance solutions.
Funding Details:
Startup: Synthesized
Investors: Redalpine Venture Partners (lead), IQ Capital, Mercia Ventures, UBS, Seedcamp
Amount Raised: $20 million
Total Raised: Not disclosed
Funding Stage: Series A
Funding Date: September 24, 2025
Emergent Raises $23M in Series A Funding for Consumer App-Building Platform
Emergent, a New York startup founded by twin brothers Mukund and Madhav Jha, raised $23 million in Series A funding to expand its “vibe coding” platform. The round was led by Lightspeed Venture Partners, with participation from Y Combinator, Together (the fund by Freshworks’ founders), and notable angels including Balaji Srinivasan, Google’s Jeff Dean, and Devendra Chaplot.
Emergent’s AI-driven platform lets non-technical users build fully functional mobile and web apps by describing them in natural language. It automatically generates, tests, and deploys code through a chain of AI agents. The new capital will help Emergent scale its user base and further develop the infrastructure that abstracts the app development lifecycle for consumer creators.
Funding Details:
Startup: Emergent (Emergent Labs Inc.)
Investors: Lightspeed Venture Partners (lead), Y Combinator, Together Fund, Balaji Srinivasan, Jeff Dean, Devendra Chaplot
Amount Raised: $23 million
Total Raised: $30 million
Funding Stage: Series A
Funding Date: September 24, 2025
Bastion Tops $40M with $14.6M Strategic Round for Stablecoin Infrastructure
Bastion, a U.S. startup providing regulated stablecoin infrastructure for enterprises, announced a $14.6 million strategic financing round, pushing its total funding beyond $40 million. The round was led by Coinbase Ventures and included Sony Innovation Fund, a16z Crypto, Samsung Next, and Hashed. Bastion’s platform lets companies issue, hold, and transact in compliant stablecoins at scale, addressing growing demand from large enterprises for plug-and-play digital asset solutions.
The new capital will accelerate Bastion’s enterprise platform development and adoption by empowering businesses to build stablecoin-based financial products securely and at scale.
Bastion’s pitch is straightforward: it offers a Stablecoin-as-a-Service platform built from the ground up with compliance in mind. Enterprises can launch branded stablecoins, manage reserves and liquidity, and integrate custodial wallets with seamless on- and off-ramps. The end-to-end system allows businesses to adopt stablecoins without taking on the regulatory and technical lift themselves.
Funding Details:
Startup: Bastion
Investors: Coinbase Ventures (lead), Sony Innovation Fund, a16z Crypto, Samsung Next, Hashed
Amount Raised: $14.6 million
Total Raised: $40 million
Funding Stage: Strategic round (equity)
Funding Date: September 24, 2025
Epic Padel Raises $10M in Seed Funding to Expand U.S. Padel Club Network
Epic Padel, a female-led padel sports startup based in Virginia, raised $10 million in seed funding to grow its network of padel clubs and related ventures. The round was co-led by NowaisWorld (the sports arm of Nowais Inc.) and Stryde Ventures, with participation from 305 Ventures, High Water Ventures, Lane Holdings, Off Court Ventures, Silverback Capital, and angel investors Elias Sultan and Sharam Gulzad. The funding also attracted sports figures like Omar Nour, Tre Boston, and Nicklas Bäckström.
Epic Padel combines club operations, league ownership, and technology investments to build a multi-faceted padel ecosystem. The new capital will fuel the opening of several new U.S. padel clubs (in places like Virginia, Wisconsin, and South Carolina) and support the startup’s aim of turning underused spaces (old racquet clubs, lots) into padel venues, boosting the growth of the sport.
Funding Details:
Startup: Epic Padel
Investors: NowaisWorld (lead), Stryde Ventures, 305 Ventures, High Water Ventures, Lane Holdings, Off Court Ventures, Silverback Capital; angels Elias Sultan, Sharam Gulzad; athletes Omar Nour, Tre Boston, Nicklas Bäckström
Amount Raised: $10 million
Total Raised: $10 million
Funding Stage: Seed
Funding Date: September 24, 2025
Power Capital Raises €323M Debt Facility for Irish Solar Projects
Power Capital Renewable Energy, an independent power producer in Ireland specializing in solar PV and battery storage, secured a €323 million financing facility led by Eiffel Investment Group. The structured financing (a bond listed on the Vienna Stock Exchange) will refinance existing debt and provide capital for Power Capital’s pipeline of solar and energy storage projects across Ireland.
Eiffel’s infrastructure expertise enabled the deal’s flexible structure. The company will use the funds to accelerate development and construction of utility-scale solar photovoltaic and battery storage parks, supporting Ireland’s renewable energy expansion.
Funding Details:
Startup: Power Capital Renewable Energy
Investors: Eiffel Investment Group (lead)
Amount Raised: €323 million (debt facility)
Total Raised: €323 million
Funding Stage: Debt financing
Funding Date: September 24, 2025
Trismik Raises £2.2M in Pre-Seed Funding for AI Model Evaluation Platform
Trismik, a Cambridge, UK startup applying psychometrics to AI evaluation, has secured £2.2 million in pre-seed funding. The round was led by Twinpath Ventures, with participation from Cambridge Enterprise Ventures, Parkwalk Advisors, Fund F, Vento Ventures, and angel investors via Ventures Together.
Trismik’s platform uses adaptive testing methods (Item Response Theory and Computerised Adaptive Testing) to rapidly and efficiently measure large language models’ capabilities, dramatically reducing evaluation time and costs. The new capital will scale Trismik’s testing platform, expand coverage of AI benchmarks (reasoning, safety, alignment), and accelerate its planned enterprise launch in 2026.
Funding Details:
Startup: Trismik
Investors: Twinpath Ventures (lead), Cambridge Enterprise Ventures, Parkwalk Advisors, Fund F, Vento Ventures, angels via Ventures Together
Amount Raised: £2.2 million
Total Raised: £2.2 million
Funding Stage: Pre-seed
Funding Date: September 24, 2025
Big Pi Ventures Closes €130M Growth Fund for Greek Startups
Big Pi Ventures, a venture capital firm in Athens, closed €130 million for the first round of its new growth fund. The fund is targeting ambitious startups with Greek roots (local or diaspora), addressing the lack of late-stage capital in Greece. The firm, founded in 2018 by Marco Veremis, Alex Eleftheriadis, and Aristos Doxiadis, is now led by Marco Veremis, Panos Metsis, and Nick Kalliagkopoulos.
The €130 million will be deployed to scale Greek companies in deeptech, biotech, blockchain, and AI. This growth fund builds on Big Pi’s track record (23 investments from its first €48M fund) and aims to keep Greek-founded startups at home by providing follow-on funding at scale.
Funding Details:
Startup: Big Pi Ventures (Greek VC firm)
Investors: (Limited partners/institutional backers – not publicly disclosed)
Amount Raised: €130 million
Total Raised: €130 million
Funding Stage: Growth fund (first close)
Funding Date: September 24, 2025
TRIVER Raises £114M in Series A and Debt to Speed SME Cash Flow
TRIVER, a London fintech that automates invoice financing for SMEs, raised £114 million in combined funding (equity and debt). The £14 million Series A equity tranche was led by AlleyCorp with support from Axeleo Capital, Inkberry Ventures, and Stride VC. In addition, TRIVER secured £100 million in debt facilities – £35M from HSBC Innovation Banking UK (with another £35M pending) and £30M from Avellinia Capital.
TRIVER’s AI-driven platform automatically underwrites small business loans and accelerates invoice payments (10-minute approvals vs. weeks for banks). This infusion boosts TRIVER’s lending capacity (up to £1B annual funding) and will fund integration with partner accounting platforms. The startup has now raised about £21M in equity to date.
Funding Details:
Startup: TRIVER
Investors: AlleyCorp (lead, Series A), Axeleo Capital, Inkberry Ventures, Stride VC; plus HSBC Innovation Banking UK and Avellinia Capital (debt financiers)
Amount Raised: £114 million (equity + debt)
Total Raised: £21 million (equity to date)
Funding Stage: Series A (equity) and debt facility
Funding Date: September 24, 2025
Cohere Raises $100M in Funding at $7B Valuation for Secure Enterprise AI
Cohere, a Toronto-based enterprise AI startup focused on secure, on-premise large language models, announced a $100 million funding round, valuing the company at $7 billion. Earlier backers NVIDIA, AMD, and Salesforce participated again, joined by new investors Nexxus Capital Management and the Business Development Bank of Canada.
Cohere’s platform provides customizable AI models that prioritize data privacy and compliance for enterprises. The capital will fuel Cohere’s global expansion and R&D as it scales its security-first AI solutions for businesses.
Founded in 2019 by former Google researchers, including CEO Aidan Gomez, Cohere’s ascent is marked by its focus on enterprise applications, setting it apart from competitors like OpenAI and Anthropic. OpenAI, for instance, is projecting $1 billion in revenue for 2024 and has amassed over $10 billion in investments, primarily from Microsoft. Meanwhile, other AI labs, including Anthropic and Mistral, continue to attract significant backing from industry heavyweights.
Funding Details:
Startup: Cohere
Investors: NVIDIA, AMD, Salesforce (existing); Nexxus Capital Management, Business Development Bank of Canada (new)
Amount Raised: $100 million
Total Raised: Not disclosed
Funding Stage: Late-stage (Series D)
Funding Date: September 24, 2025
Tech Funding Summary Table