Key Takeaways
- • Modal Labs, an AI inference cloud infrastructure provider, raised $750 million in a Series D round led by Accel at a $15.75 billion valuation, the largest U.S. startup funding round of the week of Oct. 10-16, 2026, according to Crunchbase News.
- • Icon, an Austin-based construction robotics and 3D-printed home developer, closed a $200 million Series D led by Baillie Gifford and BlackRock, and says it is on pace for 4x revenue growth in 2026.
- • Modal Labs said it recently exceeded a $1 billion annual revenue run rate, a disclosure that anchors its $15.75 billion valuation.
- • Only two rounds in the week's top 10 exceeded $100 million in the multiple-hundreds range, signaling a pullback in giant rounds even as overall investor activity continued.
- • Biotech, insurance, and AI were the other sectors drawing larger rounds, with AI tools and health AI companies (Labelbox, Suki) also raising $90 million or more.
Summary
U.S. startup investors scaled back on mega-rounds during the week of Oct. 10-16, 2026, with just two financings in the multiple hundreds of millions of dollars, according to Crunchbase News' weekly tally of the largest announced U.S. venture rounds. The largest deal was AI infrastructure provider Modal Labs, which raised $750 million in a Series D round led by Accel at a $15.75 billion valuation. The New York-headquartered company said it recently exceeded an annual revenue run rate of $1 billion.
The second-largest round went to Austin-based Icon, a developer of robotic construction systems known for 3D-printed homes, which closed $200 million in Series D funding led by Baillie Gifford and BlackRock. The company says it is on pace for 4x revenue growth in 2026.
Beyond the top two, the week's rounds spanned biotech, healthcare AI, insurance, and semiconductors. Boston-based Soufflé Therapeutics raised $135 million in Series B funding led by Juvia Group. Menlo Park-based Estuary Biotherapeutics launched with $103 million, including a $93 million Series A led by RA Capital Management and $10 million in previously undisclosed seed capital. San Francisco-based Labelbox, which develops tools to train and evaluate AI models, raised $100 million in Series E funding led by Infinitum Partners. Redwood City-based Suki, which provides AI tools for clinical documentation and coding, announced a $90 million Series E with backers including Healthier Capital and Crosslink Capital.
Insurance and care-related deals rounded out the list. San Francisco-based Stand, which insures homes in areas at higher risk of natural disasters, raised $70 million in Series C funding at a $1 billion valuation, led by Saga Ventures. Abby Care, a platform that enables family members to become certified, paid caregivers, closed $82 million in Series C funding led by Transformation Capital, per a Fortune report. Portland-based Mueon Corp., building modular semiconductor systems for AI and hyperscale computing, completed a $65 million Series A led by Maverick Silicon. New York-based North.cloud, an infrastructure spend intelligence platform, raised $60 million in Series B funding led by PeakSpan Capital.
The ranking reflects announced rounds tracked in the Crunchbase database for Oct. 10-16, 2026. Crunchbase noted that some rounds may be reported late in the week and could be captured in subsequent tallies.
The second-largest round went to Austin-based Icon, a developer of robotic construction systems known for 3D-printed homes, which closed $200 million in Series D funding led by Baillie Gifford and BlackRock. The company says it is on pace for 4x revenue growth in 2026.
Beyond the top two, the week's rounds spanned biotech, healthcare AI, insurance, and semiconductors. Boston-based Soufflé Therapeutics raised $135 million in Series B funding led by Juvia Group. Menlo Park-based Estuary Biotherapeutics launched with $103 million, including a $93 million Series A led by RA Capital Management and $10 million in previously undisclosed seed capital. San Francisco-based Labelbox, which develops tools to train and evaluate AI models, raised $100 million in Series E funding led by Infinitum Partners. Redwood City-based Suki, which provides AI tools for clinical documentation and coding, announced a $90 million Series E with backers including Healthier Capital and Crosslink Capital.
Insurance and care-related deals rounded out the list. San Francisco-based Stand, which insures homes in areas at higher risk of natural disasters, raised $70 million in Series C funding at a $1 billion valuation, led by Saga Ventures. Abby Care, a platform that enables family members to become certified, paid caregivers, closed $82 million in Series C funding led by Transformation Capital, per a Fortune report. Portland-based Mueon Corp., building modular semiconductor systems for AI and hyperscale computing, completed a $65 million Series A led by Maverick Silicon. New York-based North.cloud, an infrastructure spend intelligence platform, raised $60 million in Series B funding led by PeakSpan Capital.
The ranking reflects announced rounds tracked in the Crunchbase database for Oct. 10-16, 2026. Crunchbase noted that some rounds may be reported late in the week and could be captured in subsequent tallies.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.