Seed and series A money up in 1H25

At $4.7 billion, disclosed seed and series A financing in 1H25 rose 13% over 1H24. But nearly a quarter of that total came from just four mega-rounds of $200 million or more.

The number of companies raising seed or series A rounds dropped to 115 from 157 — the lowest first-half tally in a decade. However, these early rounds are often announced well after the money is raised, as companies emerge from stealth. As a result, the 1H25 count is likely to climb over time, potentially pushing the total well above $5 billion...