The pace of meg rounds for U.S. startups declined during the week of October 10–16, 2026, despite investors continuing to inject capital. According to Crunchbase News’ weekly list, only two rounds surpassed the hundreds-of-millions-of-dollars threshold, with Modal Labs, which specializes in AI infrastructure, leading with a $750 million Series D round.
Accel led the round, which raised Modal Labs’ valuation to $15.75 billion. The company provides cloud infrastructure for running AI inference and other applications, and said it recently surpassed a $1 billion annualized revenue run rate.
Top Rounds During the Week
Icon, which specializes in robotic construction systems and 3D-printed homes, ranked second after raising $200 million in a Series D led by Baillie Gifford and BlackRock. The Austin-based company said it is on track to achieve fourfold revenue growth in 2026.
Other rounds included companies operating in medical technology, AI, insurance and semiconductors, including:
- Soufflé Therapeutics: Raised $135 million in a Series B to develop RNA-based therapies.
- Estuary Biotherapeutics: Launched with total funding of $103 million, including $93 million in a Series A and $10 million in previously undisclosed seed funding, to develop genetic medicines for serious kidney diseases.
- Labelbox: Received $100 million in a Series E to develop tools for training and evaluating AI models and deploying agents capable of improving through experience.
- Suki: Raised $90 million in a Series E for AI tools that turn clinical conversations into data supporting documentation, coding and healthcare workflows.
- Abby Care: Closed an $82 million Series C for a platform that enables family members to become certified, paid caregivers.
- Stand: Raised $70 million in a Series C at a $1 billion valuation to provide insurance for homes located in areas more exposed to natural disasters.
- Mueon: Received $65 million in a Series A to develop a modular platform for semiconductor systems, hyperscale computing and AI.
- North.cloud: Raised $60 million in a Series B for a platform that manages and optimizes spending on technology infrastructure.
What Does This Funding Round Mean?
The list shows that funding remains available for companies focused on AI infrastructure, model development tools, chips and automation, but capital allocation has become more selective. The wide gap between Modal Labs’ $750 million round and the next round, together with the list including only two rounds in the hundreds-of-millions range, points to large-scale funding being concentrated among a limited number of companies.
The figures remain an indicator of announced rounds only, not total investment activity. Crunchbase News relied on its database for rounds raised by U.S.-based companies, with the possibility of a limited time lag in listing some rounds announced late in the week.