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One of the most crucial moments in a startup’s fundraising journey is signing a term sheet: a document that outlines the key terms of an investment. While not legally binding, a term sheet sets the foundation for your funding round and dictates how much control, equity, and decision-making power you’ll retain.

So, how do you evaluate a term sheet like an experienced founder? Let’s break it down.

1. What is a term sheet & why does it matter?

A term sheet is a non-binding agreement that defines the high-level terms of an investment before a formal contract is signed. It helps both founders and investors align on valuation, ownership, governance, and exit terms before getting into legal paperwork.

While not legally binding, certain clauses (like exclusivity and confidentiality) can be enforceable, making it critical for founders to understand what they’re agreeing to.

Key reasons term sheets matter for founders:

• Equity & Ownership: Defines how much of your startup you’ll own after the round.
• Investor Control: Determines how much say investors will have in company decisions.
• Fundraising Terms: Sets expectations for future financing rounds and exits.
• Risk Protection: Poorly structured term sheets can lead to unnecessary dilution or loss of control.

For more on the fundraising process, check out Capwave AI’s Guide to Raising Capital.

2. Breaking down the term sheet: key sections you can’t ignore

Not all term sheets are equal. Some terms favor investors, while others protect founders. Here’s what to watch for:

Valuation & investment amount

• Pre-Money Valuation: Your startup’s value before investment.
• Post-Money Valuation: Your value after adding new investment.
• Investment Size: How much the investor is putting in and what % equity they receive in return.

💡 Example: If your pre-money valuation is $10M and you raise $2M, your post-money valuation is $12M. If an investor contributes $2M, they own 16.7% ($2M/$12M).

Equity & dilution

• Investors will take a percentage of your company in exchange for their investment.
• Future fundraising rounds will further dilute founder ownership.
• A well-structured cap table prepares you for future rounds without over-diluting.

👉 Learn more about dilution here: How much equity should startup founders give away?

Liquidation preferences: what happens in an exit?

Liquidation preference determines who gets paid first when your startup is sold.

• 1x liquidation preference (standard): Investors get back what they put in before common shareholders (you, employees) get paid.
• Participating preferred (less founder-friendly): Investors get their money back AND take a share of the remaining proceeds.
• Non-participating (founder-friendly): Investors must choose between taking their money back or converting to common shares.

💡 Example:

• Your company sells for $20M.
• Investor A invested $5M for 25% equity.
• Under 1x liquidation preference, they get their $5M back, and the remaining $15M is split among common shareholders.
• Under participating preferred, they get $5M back + 25% of the remaining $15M—totaling $8.75M (leaving founders with only $11.25M).

Board seats & investor control

• Investors often request board seats to oversee company decisions.
• Some investors push for a majority board, which can take control away from founders.
• Push for a balanced board where founders retain majority control early on.

💡 Tip: If giving up a board seat, ensure it’s to a value-add investor, not just anyone writing a check.

👉 See How Startup Boards Work for best practices.

Anti-dilution protection

Investors use anti-dilution clauses to prevent their stake from shrinking if you raise a down round (lower valuation).

• Weighted Average (Standard): Investors get slight protection against dilution.
• Full Ratchet (Aggressive): Investors keep their % stake, forcing founders to absorb dilution.

💡 Best Practice: Push for weighted average and avoid full ratchet, as it can hurt you in future rounds.

3. Common mistakes founders make with term sheets

🚩 Focusing only on valuation. A high valuation with bad terms (like participating liquidation or board control) can backfire.

🚩 Ignoring liquidation preferences. Even with 30% ownership, you could walk away with $0 if preferences aren’t structured well.

🚩 Overlooking future dilution. Retaining control matters not just today but through Series A, B, and beyond.

🚩 Not negotiating. Many founders assume term sheets are final. They’re not. Investors expect some negotiation.

4. Negotiating like a pro: key tips for founders

✅ Get multiple term sheets. Competitive tension gives you leverage.

✅ Negotiate non-economic terms. Valuation is important, but board control, liquidation prefs, and voting rights matter more.

✅ Hire a startup lawyer. A good lawyer can save you millions in the long run.

✅ Understand the market. See what’s standard for your industry and funding stage.

👉 Check out Carta’s Startup Funding Benchmarks here.

Final thoughts: play the long game

A well-negotiated term sheet protects your ownership, company vision, and long-term success. While raising capital is exciting, the wrong terms can hurt you more than a low valuation.

Be strategic, get legal advice, and remember: a great investor isn’t just about money. They’re a partner in your success.

💡 Need help modeling your equity distribution? Capwave AI offers tools and insights to help founders navigate fundraising and dilution effectively.

FAQs

1. Are term sheets legally binding?
Mostly non-binding, except for clauses like exclusivity and confidentiality.

2. Can I negotiate a term sheet?
Absolutely. Most investors expect some negotiation.

3. What’s the most important term to watch?
Liquidation preference and board control impact founders the most.

4. What happens after signing a term sheet?
Due diligence starts, and lawyers draft final agreements before the deal closes.

🚀 Stay ahead in your fundraising journey and get the latest startup insights from Capwave AI!

A capitalization table (cap table) is a document that outlines the ownership structure of a company. It details who owns what percentage of equity, including:

• Founders
• Investors (angel investors, VCs, etc.)
• Employees with stock options
• Convertible note or SAFE holders

As your startup grows, your cap table evolves through funding rounds, option grants, and equity-related transactions. Keeping it organized and accurate is crucial for maintaining transparency and making strategic decisions.

Why is a cap table important?

A well-maintained cap table impacts fundraising, investor relations, and equity management. Here’s why it matters:

1. Investor transparency

Investors rely on cap tables to understand:
✔ Their ownership stake
✔ Potential dilution in future rounds
✔ How equity is distributed across stakeholders

2. Fundraising strategy

A clear cap table helps founders:
✔ Determine how much equity to offer new investors
✔ Structure rounds without over-diluting existing shareholders
✔ Maintain control over decision-making

3. Employee compensation & retention

Startups use stock options to attract and retain top talent. A well-managed cap table ensures:
✔ Fair allocation of equity grants
✔ Transparency in vesting schedules
✔ Compliance with option pool limits

4. Exit planning (acquisition or IPO)

When a startup is acquired or goes public, a clean cap table simplifies:
✔ Valuation discussions
✔ Payout structures for all shareholders
✔ Negotiations with potential acquirers

Key components of a cap table

A comprehensive cap table includes:

1. Founder equity

The shares owned by the founding team, typically issued at incorporation.

2. Investor equity

Shares issued to angel investors, venture capital firms, or strategic partners during fundraising rounds.

3. Employee stock options

Equity granted to employees as part of a stock option plan (ESOP), which includes:
✔ Vesting schedules (e.g., 4-year vesting with a 1-year cliff)
✔ Exercise price and expiration terms

4. Convertible securities

SAFE notes, convertible debt, or other instruments that convert into equity during future funding rounds.

5. Ownership percentages

The breakdown of equity across all stakeholders, showing each party’s stake in the company.

6. Dilution effects

The impact of future funding rounds on existing ownership percentages, ensuring founders and investors understand potential dilution.

How to manage your cap table effectively

1. Use cap table management software

Tracking your cap table manually in spreadsheets can lead to costly errors. Instead, use cap table management platforms such as:

• Carta – Popular for VC-backed startups
• J.P. Morgan – Cap table management with integrated equity tracking and investor reporting for startups.
• Pulley – Designed for early-stage companies
• Capshare – Equity management for startups

💡 Pro tip: Most investors expect cap tables to be maintained in software rather than a basic Excel spreadsheet.

2. Keep your cap table up-to-date

Your cap table should be updated whenever there is an equity-related transaction, including:

• New fundraising rounds
• Stock option grants or vesting milestones
• Employee terminations (which may involve stock buybacks)
• SAFE or convertible note conversions into equity

💡 Pro Tip: Investors will always review your cap table before making an investment decision. Keep it clean and organized.

3. Model future dilution scenarios

Before raising capital or granting stock options, model different scenarios to understand potential dilution.

Scenario modeling helps founders:

• Plan how much equity they can afford to offer investors
• Assess post-money valuation impact
• See how future funding rounds affect ownership

Most cap table management tools (e.g., Carta, Pulley) offer built-in scenario modeling to help with planning.

4. Understand equity dilution

Every time a startup issues new shares, existing shareholders’ ownership percentage decreases.

💡 Example of dilution:

• A founder owns 40% equity before a funding round.
• After raising a $3M seed round in exchange for 20% equity, the founder’s stake reduces to 32%.

🚀 How to minimize unwanted dilution:

• Set realistic valuation expectations before fundraising.
• Maintain a healthy option pool without excessive dilution.
• Carefully negotiate SAFE & convertible note terms.

5. Consult legal and financial experts

Cap table management involves complex financial and legal structures. Mistakes can lead to ownership disputes or compliance issues.

When to seek expert advice:

• Structuring funding rounds & term sheets
• Managing stock option grants & vesting schedules
• Converting SAFEs & convertible notes

💡 Pro Tip: Many founders miscalculate dilution when raising capital. Having an expert review your cap table ensures long-term equity strategy.

Final thoughts: your cap table is more than a spreadsheet

Your cap table is one of the most important financial documents in your startup. It impacts:

✔ How much equity you own as a founder
✔ How investors evaluate your company
✔ Your ability to raise future capital without excessive dilution

By using cap table management tools, staying organized, and modeling dilution, you can ensure your fundraising strategy aligns with long-term growth goals.

🚀 Need help managing your fundraising process? Capwave.ai provides AI-driven investor matching with over 60,000 angel and VCs. Plus, get 24/7 pitch deck insights to help your startup scale efficiently. Sign up today!

FAQs

1. What’s the best way to manage a cap table?

Use cap table software like Carta or Pulley instead of spreadsheets to avoid costly errors.

2. How often should I update my cap table?

Whenever you:
✔ Raise a new funding round
✔ Grant or vest employee stock options
✔ Convert SAFE or convertible notes

3. What’s the biggest mistake founders make with cap tables?

Not modeling dilution before fundraising. This can lead to unexpected loss of ownership.

4. Do early-stage startups need a cap table?

Yes! Even if you have only a few shareholders, it’s crucial to track ownership and dilution from the start.

📢 Get AI-charged fundraising support with Capwave.ai!

We’re thrilled to share that Capwave AI has been featured in CanvasRebel! In this exclusive feature, our founder and CEO, Charlotte Ketelaar, discusses the challenges founders face when raising capital, how her background in investment banking and startup mentorship shaped her approach, and why she built Capwave.ai to revolutionize the fundraising process.

Inside the CanvasRebel feature:

In the article, Charlotte shares:

• The biggest hurdles early-stage founders encounter when trying to secure funding.
• Why traditional fundraising methods are inefficient and time-consuming - and how AI can change that.
• How Capwave AI is helping founders connect with the right investors faster using AI-driven tools.

What is Capwave AI?

Capwave AI is designed to help founders streamline fundraising, save time, and increase investor engagement. Our platform includes:

• AI-driven investor matching to connect founders with aligned investors based on industry, traction, and stage.
• AI-powered pitch deck analysis, providing real-time feedback to strengthen investor presentations.
• Masterclass and fundraising resources, equipping founders with expert guidance on refining their fundraising approach.
• Exclusive access to a Slack fundraising community, connecting founders with peers raising in the same stage.

Read the full feature

A huge thank you to CanvasRebel for highlighting our mission! This feature showcases how Capwave AI is reshaping the fundraising landscape and empowering founders with smarter, more strategic investor connections.

📖 Read the full article on CanvasRebel

Series A funding is a pivotal milestone for startups. At this stage, investors are looking for strong product-market fit, scalable business models, and early traction in the market.

This month, 15 Series A startups successfully raised funding, securing capital to scale operations, expand teams, and drive innovation. From AI and robotics to quantum computing, fintech, and biotech, these companies are shaping the future of their industries.

1. Apptronik: $350M to revolutionize human-centered robotics

Apptronik designs and builds advanced robotics systems to enhance human-machine collaboration in industrial environments.

• Industry: Artificial Intelligence, Robotics, Industrial Automation
• Location: Austin, TX
• Lead Investors: B Capital, Capital Factory
• Other Investors: Google, Scrum Ventures, Trajectory Ventures
• Website: apptronik.com

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2. QuEra Computing: $230M for next-gen quantum computing

QuEra Computing is developing neutral-atoms-based quantum computing solutions to tackle complex computational challenges.

• Industry: Quantum Computing
• Location: Boston, MA
• Lead Investor: SoftBank Vision Fund
• Other Investors: Alphabet, Google, QVT Financial, Safar Partners, Valor Equity Partners
• Website: quera.com

3. Newleos Therapeutics: $93.5M for neuroscience drug development

Newleos Therapeutics is a biotech startup dedicated to producing safer and more effective neuroscience medicines.

• Industry: Biotechnology, Neuroscience
• Location: Boston, MA
• Lead Investor: Goldman Sachs Alternatives
• Other Investors: Arkin Bio Ventures, DCVC Bio, Longwood Fund, Novo Holdings
• Website: newleos.com

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4. Music AI: $40M to transform music technology with AI

Music AI develops artificial intelligence solutions for music and audio technology, enhancing content creation and production.

• Industry: Artificial Intelligence, Music Tech
• Location: Salt Lake City, UT
• Lead Investors: Connect Ventures, monashees
• Other Investors: New Enterprise Associates, Samsung NEXT, Steve Aoki, Toba Capital
• Website: music.ai

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5. Castelion: $70M to advance defense tech innovation

Castelion applies modern hardware development and manufacturing processes to address national security challenges.

• Industry: Aerospace, Defense Tech, Manufacturing
• Location: El Segundo, CA
• Lead Investor: Lightspeed Venture Partners
• Other Investors: Andreessen Horowitz, BlueYard Capital, Cantos, First In, Silent Ventures
• Website: castelion.com

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6. TrueFoundry: $19M to streamline enterprise AI deployment

TrueFoundry is an enterprise platform that helps teams build, deploy, and manage large language models at scale.

• Industry: Artificial Intelligence, Machine Learning, DevOps
• Location: San Francisco, CA
• Lead Investor: Intel Capital
• Other Investors: Eniac Ventures, Jump Capital, Peak XV Partners, Trajectory Ventures
• Website: truefoundry.com

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7. ConverzAI: $16M to automate recruitment with AI-powered virtual recruiters

ConverzAI provides AI-driven virtual recruiters that streamline hiring, improving efficiency for HR teams.

• Industry: AI, HR Tech, Recruiting
• Location: Seattle, WA
• Lead Investor: Menlo Ventures
• Other Investors: Afore Capital, Foundation Capital, Left Lane Capital
• Website: converzai.com

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8. Beamable: $13.5M to decentralize gaming infrastructure

Beamable is building decentralized infrastructure to enhance gaming experiences with social, commerce, and content management features.

• Industry: Gaming, Developer Tools
• Location: Boston, MA
• Lead Investor: BITKRAFT Ventures
• Other Investors: Solana Foundation, Polygon Ventures, Defy.vc
• Website: beamable.com

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9. Posterity Health: $13M to improve male fertility care

Posterity Health is a male fertility clinic offering comprehensive assessments, hormone treatments, and vasectomy services.

• Industry: Health Tech, Fertility
• Location: Parker, CO
• Lead Investor: Georgetown Equity Partners
• Other Investors: FCA Venture Partners, SteelSky Ventures, Distributed Ventures
• Website: posterityhealth.com

10. ScorePlay: $13M for AI-powered sports media management

ScorePlay is an AI-driven digital asset management system for sports-specific media workflows.

• Industry: Sports, Media Tech
• Location: New York, NY
• Lead Investor: The Twenty Minute VC
• Other Investors: Seven Seven Six, FIBA, Nico Rosberg, Trybe Ventures
• Website: scoreplay.io

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11. Superlogic: $13.7M to enhance experiential rewards with AI

Superlogic offers an AI-powered personalization and rewards platform, integrating blockchain and brand marketing.

• Industry: AI, Blockchain, Marketing Tech
• Location: Miami, FL
• Lead Investor: Power Ledger
• Other Investors: American Express, Dispersion Capital, Galaxy Interactive, Liquid 2 Ventures
• Website: superlogic.com

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12. Atomicwork: $25M to modernize IT service management

Atomicwork provides conversational AI-driven IT service management (ITSM) software for enterprise teams.

• Industry: IT, SaaS, Human Resources
• Location: San Francisco, CA
• Lead Investors: Khosla Ventures, Z47
• Other Investors: Battery Ventures, Blume Ventures, Storm Ventures
• Website: atomicwork.com

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13. Suger: $15M for AI-driven marketplace automation

Suger is an AI-powered marketplace platform that manages product listings, contracts, metering, and billing.

• Industry: SaaS, B2B Software
• Location: Daly City, CA
• Lead Investor: Threshold
• Other Investors: Craft Ventures, Intel Capital, Y Combinator, Pioneer Fund
• Website: suger.io

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14. Lynx: $27M to integrate fintech and healthcare payments

Lynx provides an API-driven platform for businesses to integrate financial services, banking, and healthcare payments.

• Industry: FinTech, Health Tech
• Location: Boston, MA
• Lead Investor: Flare Capital Partners
• Other Investors: CVS Health Ventures, McKesson Ventures, Obvious Ventures
• Website: lynx-fh.com

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15. SGNL.AI: $30M for dynamic access management solutions

SGNL.AI is an AI-powered security platform that offers context-based identity management for enterprises.

• Industry: Cloud Infrastructure, Identity Management
• Location: Palo Alto, CA
• Lead Investor: Brightmind Partners
• Other Investors: Cisco Investments, Costanoa Ventures, M12 - Microsoft's Venture Fund
• Website: sgnl.ai

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💡 Series A funding surges in AI, Robotics, and FinTech

Investors continue backing AI, quantum computing, and fintech startups that show strong early traction and scalable business models.

Looking for a lead investor for your series A raise? Find them now on Capwave AI.

🔗 Find investors who fit your startup →

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Raising a seed round is a critical milestone for startups. Investors at this stage are looking for early traction, strong teams, and scalable business models.

Here are 15 seed-stage startups who successfully closed funding rounds in the last month, securing capital to accelerate product development, expand teams, and scale operations. From AI infrastructure to blockchain, cloud security, and healthcare tech, these startups are tackling major industry challenges and attracting top-tier investors.

1. Positron: $23.5M for AI inference hardware

Positron is developing next-generation hardware for LLM (large language model) inference, optimizing AI performance while reducing energy consumption.

• Industry: Artificial Intelligence, Semiconductor
• Location: Reno, NV
• Lead Investors: Atreides Management, Flume Ventures, Resilience Reserve, Valor Equity Partners
• Website: positron.ai

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2. Backline AI: $9M for AI-powered security automation

Backline AI is an AI-driven platform that accelerates security workflows, automating backlog clearance and risk assessments.

• Industry: Artificial Intelligence, Cloud Security
• Location: Englewood, NJ
• Lead Investor: StageOne Ventures
• Other Investors: Evolution Equity Partners, Gradient
• Website: backline.ai

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3. Fluent Labs: $8M to advance blockchain infrastructure

Fluent Labs is a blockchain development company focused on Web3 solutions, decentralized applications, and cryptocurrency technologies.

• Industry: Blockchain, Cryptocurrency, Web3
• Location: California City, CA
• Lead Investor: Polychain
• Other Investors: Balaji Srinivasan, dao5, Nomad Capital, Symbolic Capital
• Website: fluent.xyz

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4. Affineon Health: $5M to transform healthcare inbox management

Affineon Health is an AI-powered platform that streamlines provider communication, improving efficiency and reducing administrative burdens in healthcare.

• Industry: Health Care
• Location: Denver, CO
• Lead Investor: Green Park & Golf Ventures
• Other Investors: AI Fund, Deepwater Asset Management, Signal Peak Ventures
• Website: affineon.com

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5. Presto: $15M to power next-gen EV charging

Presto is developing a software platform that enhances fleet and mobility charging experiences, optimizing accessibility and efficiency.

• Industry: Clean Tech, Mobility
• Location: Oakland, CA
• Lead Investors: Congruent Ventures, Jetstream, Powerhouse Ventures, Union Square Ventures
• Website: prestocharging.com

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6. Athenic AI: $4.3M to advance AI-driven data analytics

Athenic AI is a SaaS-based analytics platform that helps businesses solve complex data problems using AI-powered insights.

• Industry: AI, SaaS
• Location: San Francisco, CA
• Lead Investor: BMW i Ventures
• Other Investors: 10vc, Abstraction Capital, Beat Ventures, Boost VC, Scrum Ventures
• Website: athenic.com

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7. PHȲND: $10M to revolutionize cloud gaming

PHȲND is a subscription-free cloud gaming platform that lets users discover, play, and socialize across a variety of games.

• Industry: Gaming, Media
• Location: Stamford, CT
• Lead Investor: Wellington Management
• Other Investors: Bessemer Venture Partners, Connecticut Innovations, Jozy Altidore
• Website: phynd.co

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8. Keragon: $7.5M for HIPAA-compliant automation

Keragon is building a secure workflow automation platform designed for healthcare compliance, streamlining administrative processes.

• Industry: Health Tech
• Location: Boston, MA
• Lead Investor: Upfront Ventures
• Other Investors: 25madison, Afore Capital, focal
• Website: keragon.com

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9. Final Round AI: $6.88M to transform job interview prep

Final Round AI is an AI-native platform built to assist job seekers with interview coaching, resume optimization, and career preparation.

• Industry: AI, Employment
• Location: San Francisco, CA
• Lead Investors: Alumni Ventures, Uncork Capital
• Other Investors: AltaIR Capital, Goodwater Capital, Ritual Capital, Sky9 Capital, Soma Capital
• Website: finalroundai.com

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10. Trace.Space: $4M to optimize AI-powered product development

Trace.Space is an AI-powered platform for engineers building industrial products, improving requirements management and collaboration.

• Industry: AI, Product Design
• Location: Miami, FL
• Lead Investor: Cherry Ventures
• Other Investors: Change Ventures, Fiedler Capital, Nebular, Outlast Fund
• Website: trace.space

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11. Validated: $5.5M to power AI-driven performance marketing

Validated helps companies acquire users via AI-powered performance advertising solutions.

• Industry: Marketing Automation, SaaS
• Location: Seattle, WA
• Lead Investor: Canaan Partners
• Other Investors: J Ventures, Neo, Scott Banister, Steve Huffman
• Website: valid.co

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12. Mobly: $4.3M for AI-powered sales and mobile ops

Mobly is a SaaS platform that provides mobile software, data hygiene, and sales automation for businesses.

• Industry: SaaS, Mobile Apps
• Location: Lehi, UT
• Lead Investors: Eniac Ventures, Jump Capital
• Other Investors: Element Ventures, Peterson Ventures
• Website: getmobly.com

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13. Keebler Health: $6M for AI-based risk adjustment in healthcare

Keebler Health is developing an AI-powered risk adjustment tool for healthcare providers to improve billing efficiency.

• Industry: AI, Health Tech
• Location: Durham, NC
• Lead Investors: Everywhere Ventures, Freestyle Capital, Hustle Fund, Ludlow Ventures
• Website: keebler.health

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14. Self Inspection: $3M to streamline AI-powered auto inspections

Self Inspection is a provider of an AI-powered platform for the automotive inspection market.

• Industry: AI, Automotive
• Location: San Diego, CA
• Lead Investors: Costanoa Ventures, DVx Ventures
• Website: selfinspection.com

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15. Accrue: $1.58M for cross-border payments and virtual USD cards

Accrue offers financial services for cross-border payments and virtual USD cards across Africa.

• Industry: Finance, Payments
• Location: Dover, DE
• Lead Investor: Lattice Fund
• Other Investors: Distributed Capital Partners, Kraynos Capital, Maven 11 Capital
• Website: useaccrue.com

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💡 Seed funding stays strong in AI, Web3, and Health Tech

Investors continue backing AI, Web3, and healthcare startups that demonstrate early traction and scalable business models.

Looking for seed-stage investors for your startup? Capwave AI provides investor-grade pitch deck feedback, an expert-led masterclass, and AI personalized investor matches to supercharge your next raise.

🔗 Find investors who fit your startup now →

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Raising a pre-seed round is a massive milestone. At this stage, investors are betting on founders, market opportunity, and execution potential. Not just revenue numbers.

Here’s a list of 15 early-stage startups who recently closed their pre-seed funding round in January and February of 2025. At this stage, they’re securing capital to build, scale, and validate their vision. From AI automation to clean energy and fintech, these companies are tackling some of the biggest challenges in their industries.

Here’s a look at the startups that just raised, what they’re building, and who’s backing them.

1. Everstar: $4M for AI-powered nuclear plant management

Everstar is developing an AI-driven system to optimize the operation and management of nuclear power plants, improving safety, efficiency, and overall plant performance.

• Industry: Artificial Intelligence, Energy, Industrial Tech
• Location: New York, NY
• Lead Investor: Third Prime
• Other Investors: Excel Services, Generational Partners, Page One Ventures, Pelican Energy Partners, Virta Ventures
• Website: everstar.ai

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2. Limited: $3M to build a global self-custodial finance platform

Limited is creating a financial ecosystem that allows users to spend, save, invest, and transact globally without relying on traditional banks.

• Industry: FinTech
• Location: San Francisco, CA
• Lead Investor: Third Prime
• Other Investors: Arche Capital, The House Fund
• Website: limitedapp.com

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3. Sotira: $2M to modernize B2B logistics

Sotira is reinventing the supply chain by optimizing logistics for suppliers and buyers, helping businesses cut costs and improve efficiency.

• Industry: B2B, E-Commerce, FinTech, Logistics, SaaS
• Location: San Francisco, CA
• Lead Investors: K5 Global, Night Capital, Ritual Capital, Unusual Ventures
• Website: sotira.co

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4. Future AGI: $1.6M to accelerate AI application development

Future AGI provides a platform that helps businesses build, train, and deploy AI models faster and with greater accuracy.

• Industry: Artificial Intelligence, IT, Software
• Location: San Francisco, CA
• Lead Investors: Powerhouse Ventures, Snow Leopard Technology Ventures
• Other Investors: AngelList Quant Fund, Saka Ventures, Swadharma Source Ventures
• Website: futureagi.com

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5. Elio: $2M to coordinate and accelerate climate action

Elio is building a communication and coordination platform designed to streamline sustainability projects and climate initiatives.

• Industry: Big Data, Sustainability, Software
• Location: Dover, DE
• Lead Investor: Ananda Impact Ventures
• Other Investors: Andreas Treichl, Cerulean Ventures, N&V Capital, Overview, RHEINEST, Stefan Oschmann, We\R
• Website: elio.earth

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6. Pinkfish: $7.6M to revolutionize enterprise AI automation

Pinkfish is making enterprise automation more accessible by allowing businesses to create workflows using natural language.

• Industry: Artificial Intelligence, IT, Robotic Process Automation (RPA)
• Location: San Francisco, CA
• Lead Investor: Norwest Venture Partners
• Other Investors: Storm Ventures
• Website: pinkfish.ai

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7. Addis Energy: $4.25M to transform clean ammonia production

Addis Energy is developing innovative methods to produce clean ammonia, aiming to revolutionize energy and fuel sustainability.

• Industry: Chemical, Manufacturing, Clean Energy
• Location: Somerville, MA
• Lead Investors: Engine Ventures, Pillar VC, Voyager Ventures
• Website: addisenergy.com

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8. Systole Health: $2M to empower women’s heart health

Systole Health provides digital tools and solutions to help women take control of their heart health and prevent cardiovascular disease.

• Industry: Health Care, Medical
• Location: Allston, MA
• Lead Investor: Benchstrength
• Other Investors: J Ventures, January Ventures, Tom X Lee
• Website: systolehealth.com

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9. Gaia Dynamics: $1.5M to simplify global trade compliance

Gaia Dynamics is developing tools that help customs brokers, consultants, and brands navigate international trade with ease.

• Industry: Logistics, TradeTech
• Location: Palo Alto, CA
• Lead Investors: AI Fund, Zenda
• Website: gaiadynamics.ai

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10. Human: $7.3M for decentralized identity and fintech

Human is creating a blockchain-based identity management platform focused on financial independence and security.

• Industry: Blockchain, Consumer, FinTech
• Location: San Francisco, CA
• Investors: Hummingbird Ventures, Soma Capital, Val Vavilov, Pioneer Fund
• Website: human.org

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11. Whetstone Research: $1.3M to advance on-chain markets

Whetstone Research is building protocols that facilitate decentralized finance (DeFi) and Web3 market infrastructure.

• Industry: Blockchain, DeFi, Web3
• Location: New York, NY
• Investors: Variant, Uniswap Labs, Nascent, Figment Capital
• Website: whetstone.cc

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12. Glue: $2M to automate hardware testing

Glue is developing a software framework that automates hardware testing for industrial automation and AI-driven systems.

• Industry: Artificial Intelligence, Industrial Automation, Software
• Location: Seattle, WA
• Investors: Fortive, AIStudio Fund, PSL Ventures
• Website: gluestudio.com

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13. Incept AI: $3M to bring AI voice tech to drive-thrus

Incept AI is integrating AI-powered voice recognition into real-world applications, starting with phone orders and restaurant drive-thrus.

• Industry: Artificial Intelligence, Software
• Location: New York, NY
• Investors: Rally Ventures, 10vc
• Website: incept.ai

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14. Qumis: $2.2M to streamline insurance workflows with AI

Qumis is an AI-driven platform designed to optimize insurance knowledge management and decision-making.

• Industry: Enterprise Software, InsurTech
• Location: Chicago, IL
• Investors: Armory Square Ventures, BrokerTech Ventures, MTech Capital, Alumni Ventures
• Website: qumis.ai

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15. Taxflow: $750K to bring AI to tax and accounting firms

Taxflow is developing AI-powered agents designed to streamline tax preparation and accounting for U.S. firms, automating complex financial workflows.

• Industry: Accounting, Artificial Intelligence, Tax Preparation, Web Development
• Location: San Francisco, CA
• Investors: BFF, Brian Requarth, Brian York, Platanus
• Website: jointaxflow.ai

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More early-stage funding is flowing, but competition remains fierce

Pre-seed startups are still securing funding, but investors are more selective than ever. The startups that raised this month stood out with clear market opportunities, strong teams, and scalable visions.

If you’re gearing up for a raise, the right investor connections can make all the difference. Match with yours on Capwave.AI.

🔗 Get matched with investors who fit your startup →

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