## **Media and Entertainment Ventures Raise $500 Million in July**

In an impressive display of investor confidence, **media and entertainment startups** collectively raised **$500 million** in July. Leading the pack was **Base Boy Entertainment**, which secured a whopping **$110 million** infusion, closely followed by **Substack** with a **$100 million** round.

### **The Funding File: A New Monthly Column**

This report marks the launch of **The Funding File**, a monthly column in partnership with **PitchBook**, the premier financial data and software platform. This column aims to track **venture capital investments** in startups across **entertainment, media, publishing, and related software services**.

![Funding File Strap](https://i0.wp.com/www.thewrap.com/wp-content/uploads/2025/08/Funding-File-strap-02.png?resize=1024%2C139&quality=80&ssl=1)

### **Why This Matters**

Startups in these sectors are often **indicators of innovation and future trends**. By monitoring their funding, we gain insights into where the industry is headed next.

### **Exclusive for WrapPRO Members**

This column is a **premium feature** for **WrapPRO subscribers**, offering:
- **Unlimited access to PRO stories**
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The Funding File: Base Boy Entertainment led fundings with a $110 million infusion followed by Substack with a $100 million round.

Media & Entertainment Startups Secure $500M in July: Who's Leading the Charge?

**Oklo**, a pioneering nuclear startup, has seen its stock surge by an astounding **1000%** over the past year, capturing significant attention in the investment and energy sectors. This remarkable growth is largely attributed to the company's recent achievements, including being selected for **three projects** under the Department of Energy's nuclear reactor pilot program. These projects are part of a broader initiative to advance next-generation nuclear technologies, positioning Oklo at the forefront of innovation in clean energy.

The CEO of Oklo has shared insights on the company's future trajectory, emphasizing a focus on scaling up their reactor designs and expanding partnerships. This strategic direction aims to capitalize on the growing demand for sustainable and reliable energy sources, with nuclear power playing a key role in reducing carbon emissions.

Key factors driving Oklo's success include advancements in small modular reactor (SMR) technology, which offers enhanced safety and efficiency compared to traditional nuclear plants. The company's innovative approach has not only attracted investor interest but also aligns with global efforts to combat climate change through cleaner energy solutions.

Looking ahead, Oklo plans to leverage its momentum to secure additional funding and regulatory approvals, potentially leading to broader deployment of its reactors. This could have significant implications for the energy industry, offering a viable path to decarbonization while ensuring energy security.

Oklo was selected for three projects under the Department of Energy’s nuclear reactor pilot program.

Oklo's Stock Skyrockets 1000%: Inside the Nuclear Startup's Next Big Moves According to Its CEO

# The AI Funding Boom Continues in 2025

Last year was monumental for the AI industry in the U.S. and beyond, with **49 startups raising funding rounds worth $100 million or more in 2024**. As we approach the end of the third quarter of 2025, the momentum shows no signs of slowing down. Multiple billion-dollar rounds have already been announced, and several companies have raised more than one mega-round this year.

Here's a comprehensive list of all the U.S. AI companies that have raised at least $100 million in 2025, organized by month:

## August

- **EliseAI**, a healthcare and housing automation platform, raised **$250 million** in a Series E round led by Andreessen Horowitz, valuing the startup at $2.2 billion.
- **Decart**, an AI research lab, raised **$100 million** at a $3.1 billion valuation, with participation from Sequoia Capital, Benchmark, and Zeev Ventures.

## July

- **Fal**, a generative media platform, raised a **$125 million Series C round** led by Meritech Capital Partners, valuing the company at $1.5 billion.
- **Ambience Healthcare** raised **$243 million** in a Series C round led by Oak HC/FT and Andreessen Horowitz for its AI healthcare operating system.
- **Reka AI** secured **$110 million** in a Series B round with investors like Snowflake and Nvidia, reaching a $1 billion valuation.
- **Thinking Machines Lab** confirmed a massive **$2 billion seed round** led by Andreessen Horowitz, valuing the company at $12 billion.
- **OpenEvidence** raised **$210 million** at a $3.5 billion valuation for its AI-powered search tool for clinicians, led by Kleiner Perkins and GV.
- **Harmonic** raised a **$100 million Series B round** led by Kleiner Perkins for its mathematical reasoning engine, valued at $875 million.

## June

- **Abridge**, a healthcare AI unicorn, announced a **$300 million Series E round** led by Andreessen Horowitz, doubling its valuation to $5.3 billion.
- **Harvey** raised its second **$300 million round** of 2025, co-led by Kleiner Perkins and Coatue, bringing its valuation to $5 billion for AI legal tools.
- **Tennr** raised **$101 million** in a Series C round led by IVP for healthcare referrals, valued at $605 million.
- **Glean** landed a **$150 million Series F round** led by Wellington Management, valuing the enterprise search startup at $7.25 billion.
- **Anysphere** raised a **$900 million Series C round** led by Thrive Capital for its AI coding tool Cursor, valued at nearly $10 billion.

## May

- **Snorkel AI** announced a **$100 million Series D round** led by Addition for AI data labeling, valued at $1.3 billion.
- **LMArena** raised a **$100 million seed round** co-led by Andreessen Horowitz and UC Investments for AI benchmarking, valued at $600 million.
- **TensorWave** raised **$100 million** in a Series A round co-led by Magnetar Capital and AMD Ventures for AI infrastructure.

## April

- **SandboxAQ** closed a **$450 million Series E round** with investors like Nvidia and Google, valued at $5.7 billion.
- **Runway** raised **$308 million** in a Series D round led by General Atlantic for AI media models, valued at $3 billion.

## March

- **OpenAI** raised a record-breaking **$40 billion funding round** led by SoftBank, valuing the startup at $300 billion.
- **Nexthop AI** raised **$110 million** in a Series A round led by Lightspeed Venture Partners for AI infrastructure.
- **Insilico Medicine** raised **$110 million** in a Series E round for AI-driven drug discovery, valued at $1 billion.
- **Celestial AI** raised **$250 million** in a Series C round led by Fidelity for photonic AI infrastructure, valued at $2.5 billion.
- **Lila Sciences** raised a **$200 million seed round** led by Flagship Pioneering for a science superintelligence platform.
- **Reflection.Ai** raised **$130 million** in a Series A round led by Lightspeed Venture Partners and CRV for autonomous systems, valued at $580 million.
- **Turing** closed a **$111 million Series E round** led by Khazanah Nasional for AI coding, valued at $2.2 billion.
- **Shield AI** raised **$240 million** in a Series F round co-led by L3Harris Technologies and Hanwha Aerospace for defense tech, valued at $5.3 billion.
- **Anthropic** raised **$3.5 billion** in a Series E round led by Lightspeed for AI research, valued at $61.5 billion.

## February

- **Together AI** raised **$305 million** in a Series B round co-led by Prosperity7 and General Catalyst for open-source AI, valued at $3.3 billion.
- **Lambda** raised **$480 million** in a Series D round co-led by SGW and Andra Capital for AI infrastructure, valued at nearly $2.5 billion.
- **Abridge** raised **$250 million** in a Series D round co-led by IVP and Elad Gil for patient transcription, valued at $2.75 billion.
- **Eudia** raised **$105 million** in a Series A round led by General Catalyst for AI legal tech.
- **EnCharge AI** raised **$100 million** in a Series B round led by Tiger Global for AI hardware.
- **Harvey** raised **$300 million** in a Series D round led by Sequoia for legal AI, valued at $3 billion.

## January

- **ElevenLabs** raised **$180 million** in a Series C round co-led by ICONIQ Growth and Andreessen Horowitz for synthetic voice, valued at over $3 billion.
- **Hippocratic AI** raised **$141 million** in a Series B round led by Kleiner Perkins for healthcare LLMs, valued at over $1.6 billion.

This list highlights the continued investor confidence in **AI startups**, with significant funding across various sectors including healthcare, legal tech, infrastructure, and more.

U.S.-based AI startups continue to rake in venture funding with multiple companies already raising impressive rounds in 2025.

33 US AI Startups That Secured Massive $100M+ Funding Rounds in 2025 – The Full List Revealed!

Too many founders jump straight into product development, driven by excitement, only to later scramble to find out if anyone actually wants what they've built. I nearly fell into the same trap. It all began with me generating silly AI images of my boss to amuse coworkers, but I quickly saw the potential in the accessible AI tools I was using. Without a background in AI or deep learning, I realized that open-source tools like Stable Diffusion could empower anyone to create something magical.

Instead of rushing to code, I paused and asked myself three critical questions. This simple checklist became the bedrock of my business, saving me from wasting months and money on a product with no market. These questions are universal, applicable whether you're launching a SaaS, a consumer product, a service, or an AI tool.

## Is There Real Demand?
Before investing in **product development**, I set up a basic test: an Etsy store selling AI-generated pet portraits during the holidays. It was manual and clunky—every order required me to train models and fulfill them by hand. But people paid and loved the results. This early signal proved that I could deliver value and that customers were willing to pay. For any founder, this means validating demand through methods like selling a simplified version, pre-selling, or running a paid pilot before scaling up.

## Will People Pay Me—and How?
After confirming interest, I experimented with pricing. We tested $15 and $25, ran ads on Reddit, and tried subscriptions. However, the high costs of custom-trained models made recurring plans unsustainable early on. I switched to a one-time payment model starting at $9.99, which saw strong conversions. Over time, we added higher tiers, but from day one, the business had to be financially viable. I avoided freemium due to GPU costs and instead created a free tool that mimicked our main offering—an AI headshot generator—but was actually a low-cost background remover. This gave users a taste and warmed them up to purchase, driving conversions. The key takeaway: **revenue models** must prioritize sustainability over ideal user scenarios.

## Can I Actually Reach People?
I had no audience, connections, or media buzz, but I leveraged Reddit. By joining threads on AI headshots, adding value, answering questions, and eventually sharing my product, I gained our first 100 customers. Google Ads helped scale to 1,000. It wasn't viral or glamorous, but it worked because I focused on the hardest parts of distribution: earning attention and trust. When planning your go-to-market, think in terms of risk: Can you find the right people, earn their attention, and convert them without overspending? If not, even the best product will fail.

Don't build until you can answer these three questions. A rough product based on real answers will always outperform a polished one built on hope. Before investing heavily, ask: Who wants this right now? Will they pay? Can I reach them profitably? Everything else can wait.

Before launching a new product or service, this founder used three simple questions to test demand, pricing and reach — saving time, money and guesswork.

3 Game-Changing Questions Every Founder Must Ask Before Building a Product

We're excited to announce the **2025 Startup Battlefield 200**, TechCrunch's curated selection of the top early-stage startups globally. These founders emerged from thousands of applications across all industries and regions, earning a spot to exhibit at **TechCrunch Disrupt 2025** in San Francisco from October 27-29. This cohort is set to shape the future in areas like AI, climate tech, health, fintech, robotics, and consumer goods.

A big thank you to **Google Cloud**, the premier sponsor, for supporting early-stage startups in building and scaling their ventures.

At Disrupt, you can:
- Watch live demos of cutting-edge technology.
- See Battlefield companies pitch to top global VCs.
- Cheer them on as they compete for $100,000 in equity-free funding and the Disrupt Cup.

Whether you're a VC, tech enthusiast, or founder, join us at Disrupt 2025. Register for tickets before prices increase in September.

### Presenting the 2025 Startup Battlefield 200

#### Agtech & Food
- AQUAWISE
- Clave
- CredoSense
- Genesis
- Greeny Solutions
- Instacrops
- Kadeya
- Shin Starr Robotics
- Tensorfield Agriculture
- Unibaio
- Verley

#### Biotech & Pharmaceuticals
- ÄIO
- Antarka
- CasNx
- Chipiron
- Exactics
- Forte Biotech
- Lumos Strategies OÜ
- Miraqules
- Nephrogen
- PraxisPro
- Reme-D
- Surgicure Technologies, Inc.

#### Consumer
- Ahoi
- AllFocal Optics Limited
- Billight
- Cerca Dating
- FounderWay.ai
- Hotel Treats
- Nim
- Pintours
- Prickly Pear Health
- rax
- Rent a Cyber Friend, Inc.
- Renude
- Snap Discovery AG
- Tasteit
- Tattd
- Vista InnoTech Limited

#### Cybersecurity
- AIM Intelligence
- Corgea
- CyDeploy, Inc.
- Cyntegra
- Mill Pond Research
- Polygraf AI
- TruSources
- Young Minds App
- ZEST Security
- ZoraSafe Inc.

#### Edtech
- Calificadas
- CampusAI Holding LLC
- General Neuro
- Readmio
- Super Teacher
- ZEZEDU Corp.

#### Energy & Clean Tech
- AraBat
- Aruna Revolution
- CarbonBridge Inc.
- Carbon Negative Solutions
- COI Energy
- Coral
- Emobi
- EnyGy Limited
- Ganiga Innovation
- Gemini Energy
- Helix Earth
- HKG Energy
- HomeBoost
- HyWatts Inc.
- Kaio Labs
- MacroCycle Technologies
- Namu Robotics Corporation
- Naware
- Segura
- ShellVive
- Whisper Energy
- Xatoms

#### Enterprise Tech
- AI Seer
- Amplfi
- Atlantix Portal
- Billow AI
- Blok
- Breakout
- Cashew Research
- CODA
- Collabwriting
- Dextego Inc
- Dobs AI
- Elloe AI
- Elroi
- Etiq AI
- General Translation
- GRAVL, Inc.
- Hypercubic
- Just Words
- KrosAI
- Libertify
- Maisa
- Mappa
- mAy-I
- Mendo
- Nimblemind
- Rayda
- Sponstar
- Unthread
- Visualsyn, Inc
- WeShop AI
- ZETIC.ai

#### Entertainment & Media
- Alltroo
- METAPYXL
- Nebula
- Oriane
- Othelia Technologies
- Plurall AI

#### Fintech
- Astragar Limited
- Cyphr
- Identifee
- Lootlock
- Muse
- ti¢ker

#### Government & Legal
- Aparti
- Ascender Systems
- Ascent Integrated Tech
- Depth AI
- ILias AI Co., Ltd.
- JustiGuide
- Orchestra
- Ponderosa.ai, Inc.
- Pytho AI
- Shothawkai
- Torch Systems

#### Health & Wellness
- Akara
- Apersys AG
- ArmBionics
- ArtSkin
- AWEAR
- Axoft
- Care Hero
- Che Innovations Uganda Ltd
- ELLUSTRÖS
- Endless Health Inc.
- Eos.ai
- GLITCHERS Lab
- Innov8 AI
- Lexi AI, Inc.
- MariTest
- Meo Health
- Monere
- NearWave
- Neural Drive
- NUSEUM
- Ovulio Corp.
- Pharos
- PillarBiome
- PlayVision AI
- RADiCAIT
- Serene Sleep
- Some Other Place
- SpotitEarly
- Sybil Health
- Vital Audio
- VIZQ Technologies, Inc
- Vocadian
- Yuzi Care
- Zemi Labs Inc

#### Logistics & Supply Chain
- Bendi
- GigU
- Glīd
- Kinisi
- QuickShipper

#### Manufacturing & Industrial
- CloEE
- CosmicBrain AI Inc
- Delft Circuits
- Evolinq
- ExoMatter
- Hamilton Perkins Collection
- Kamet AI
- Koidra
- Mbodi
- MycoFutures
- OKOsix
- Prospectral
- Ravel
- Strong by Form
- Xronos Inc.

#### Real Estate & Proptech
- Genia
- Investwise
- Smart Bricks
- Soundspace Technology, Inc.
- Surfaice
- Unlisted Software, Inc.
- Zown

#### Space & Defense
- Airbility
- Arkadia Space
- Astrum Drive Aerospace
- Charter Space
- Endox
- HANCE
- Skylark Labs Inc.
- Skyline Nav AI, Inc

Startup Battlefield alumni have built companies like Dropbox, Cloudflare, and Discord, raising over $32 billion with 250 exits. The Top 20 Finalists will be announced on Day 1 of Disrupt, October 27.

If you applied, watch for updates via email. For everyone else, experience the action live at TechCrunch Disrupt 2025 in San Francisco.

We’re thrilled to unveil the 2025 Startup Battlefield 200 — TechCrunch’s handpicked list of the most promising early-stage startups.

Meet the 200 Most Promising Startups of 2025: The Ultimate TechCrunch Battlefield Reveal!

Nubank, originally a startup, has evolved into a superbank with impressive growth and profitability in Latin America. Its expanding reach and strong market position make it a top choice for fintech investments, backed by an attractive valuation.

**Key factors driving Nubank's success** include its innovative approach to banking, which has disrupted traditional financial services in the region. The company's ability to scale rapidly while maintaining profitability is a testament to its robust business model.

With a focus on customer-centric services, Nubank continues to capture market share, making it a compelling story for investors looking at high-growth opportunities in emerging markets.

Nubank's strong growth, profitability, and expanding reach in Latin America position it as a top fintech investment with an attractive valuation. Read the latest analysis on the stock here.

Nubank's Meteoric Rise: Why This Fintech Giant Still Has Massive Growth Potential

# Bluejay: AI Agent Testing Startup Secures $4 Million in Seed Funding

Earlier this year, two 23-year-old engineers, **Rohan Vasishth** and **Faraz Siddiqi**, left their high-profile jobs at **Amazon** and **Microsoft** to launch **Bluejay**, an AI agent-testing startup. In just a few months, they successfully raised **$4 million** in seed funding, backed by prominent investors including **Y Combinator**, **Floodgate**, **Peak XV**, and **Homebrew**.

![Bluejay cofounders Rohan Vasishth and Faraz Siddiqi](https://i.insider.com/68a75f4acfc04e97619bcb40?width=700)

Based in San Francisco, Bluejay specializes in **quality assurance for AI agents**, with a strong focus on voice agents. The company uses synthetic customers to stress-test AI systems, simulating diverse scenarios involving different languages, accents, background noise, and personalities. This allows them to replicate a month's worth of interactions in mere minutes, providing rapid and comprehensive testing solutions.

Vasishth shared his motivation for leaving his first job out of college, emphasizing the rapid evolution of AI. "I don't need to stay here for six years to learn about it," he said. "In fact, I will learn about it probably faster by just doing it." The duo, who graduated from Y Combinator's spring 2025 batch, are building the company from a San Francisco hacker house, embodying a **super scrappy** attitude with lighthearted branding, including a mascot and grassroots marketing efforts like handing out flyers at conferences.

Bluejay's name is inspired by birds that warn each other of danger, reflecting their role in repeatedly pinging agents to test and monitor performance. The funding will be used to hire developers, researchers, and salespeople to scale their operations.

While Bluejay operates in a competitive space with companies like Braintrust, Arize AI, and Galileo also focusing on AI QA, their unique approach and rapid funding success set them apart.

Here's a glimpse into the pitch deck that helped them secure their investment:

![Pitch Deck Slide 1](https://i.insider.com/68a76010194a2d49b8aef2d0?width=600&format=jpeg&auto=webp)

![Pitch Deck Slide 2](https://i.insider.com/68a76023a17a8c5b405340c9?width=600&format=jpeg&auto=webp)

![Pitch Deck Slide 3](https://i.insider.com/68a76039a17a8c5b405340cb?width=600&format=jpeg&auto=webp)

![Pitch Deck Slide 4](https://i.insider.com/68a76057194a2d49b8aef2e2?width=600&format=jpeg&auto=webp)

![Pitch Deck Slide 5](https://i.insider.com/68a76070cfc04e97619bcb7e?width=600&format=jpeg&auto=webp)

![Pitch Deck Slide 6](https://i.insider.com/68a76089cfc04e97619bcb84?width=600&format=jpeg&auto=webp)

![Pitch Deck Slide 7](https://i.insider.com/68a760b1194a2d49b8aef2ef?width=600&format=jpeg&auto=webp)

![Pitch Deck Slide 8](https://i.insider.com/68a760d8cfc04e97619bcb8e?width=600&format=jpeg&auto=webp)

![Pitch Deck Slide 9](https://i.insider.com/68a76101cfc04e97619bcb96?width=600&format=jpeg&auto=webp)

![Pitch Deck Slide 10](https://i.insider.com/68a76114cfc04e97619bcb99?width=600&format=jpeg&auto=webp)

Bluejay's cofounders left their jobs at Amazon and Microsoft and raised $4 million to build an AI agent-testing startup. 

How Two 23-Year-Old Ex-Amazon and Microsoft Engineers Raised $4M for Their AI Startup Bluejay

# Minimus: From Louisiana Roots to Global Cybersecurity Leader

From an unassuming office in Perkins Rowe, a cloud security startup has managed to secure **$51 million in seed funding** and attract more than **1,200 users** since its official launch in April.

The company—called **Minimus**—offers a suite of tools aimed at **eliminating software vulnerabilities before they exist**. Though it's headquartered in Baton Rouge, it also has offices in New York City; Portland, Oregon; and Tel Aviv, Israel.

Co-founder and CTO John Morello, a Louisiana native and LSU graduate, spent 15 years at Microsoft before co-founding a cloud security company called **Twistlock** in 2015. Twistlock built its customer engineering team at LSU's Innovation Park and quickly became a leader in the cloud security space.

By the time Twistlock was acquired by Silicon Valley's **Palo Alto Networks for nearly $500 million in 2019**, it was serving 40% of Fortune 100 companies, including household names like Disney and Starbucks.

Minimus itself got its start in 2022, though it went by Gutsy at the time. When Gutsy announced that it was establishing its headquarters in Baton Rouge in 2023, it was celebrated as a significant milestone for Baton Rouge's growing tech sector.

The company, which rebranded as Minimus ahead of its formal launch earlier this year, claims to offer a solution to the endless treadmill of cloud software vulnerabilities by simply preventing the vast majority of those vulnerabilities from ever existing.

Most organizations currently rely on open-source software building blocks that typically include extraneous components, leading to hundreds of vulnerabilities. **Minimus rebuilds those blocks from scratch**, stripping out anything that isn't essential.

The result is software that comes with dramatically fewer weaknesses. By using Minimus's building blocks, users can reduce their risk and the amount of work to manage that risk by **98-plus percent**.

Minimus has attracted users in heavily regulated sectors like finance, health care, and government. The company now employs about 50 people across its four offices.

Looking forward, Morello hopes Minimus will become a standard part of how software is built worldwide, aiming for ubiquity in the software development process.

![Digital security concept and cloud computing security](https://s25562.pcdn.co/wp-content/uploads/2025/08/iStock-1724789360-1068x712.jpg.webp)

Minimus, headquartered in Baton Rouge, offers a suite of tools aimed at “eliminating software vulnerabilities before they exist.”

Media & Entertainment Startups Secure $500M in July: Who's Leading the Charge?

Summary:

Media and Entertainment Ventures Raise $500 Million in July

The Funding File: A New Monthly Column

Why This Matters

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