36 new tech unicorns in the U.S. in the first half of 2025 - which track is the hottest?

According to the foreign media TechCrunch combing reports, this year, the United States has a total of36Tech startups succeeded in being among the newly mintedunicorncamp, which are widely distributed in a number of cutting-edge fields such as AI, biomedicine, and eachValuations all exceeded $1 billionThe Big Pass.

According to public information statistics, these 36 unicorns in the first half of this year to take a total ofUS$7.24 billion (approx. Rs. 52.01 billion) financing, Mira Murati's (Mira Murati's) startup alone accounts for nearly 1/3 of the total.

(Note: Calculated on the basis of the exchange rate between the United States dollar and the renminbi on July 8: 1 United States dollar ≈ 7.17 renminbi)

 

01. AI fever is high.Eight unicorns rake in $20 billion  

Of these 36 new unicorn companies, those focused on AI (including AI applications)A total of 8totalFinancing $3.23 billion (about Rs. 23.2 billion)(math.) genusTotal valuation of up to $24.49 billion (roughly Rs. 175.92 billion). Among them, the highest amount of funding and the largest amount of valuation also belongs to Thinking Machines, which was founded last year by Mira Murati, the former chief technology officer of OpenAI, without having an actual product yet.Founded just one year ago at a valuation of $10 billion (about Rs. 71.83 billion).

▲ Ranked by valuation amount, July 8 USD/CNY exchange rate: 1 USD ≈ 7.17 CNY (Charted by Wisdom)

1,Thinking Machines:Valued at $10 billion (about RMB 71.72 billion)

Thinking Machines, founded last year by former OpenAI CTO Mira Murati, completed a $2 billion (roughly Rs. 14.34 billion) seed round of financing in June of this year at a valuation of $10 billion (roughly Rs. 71.72 billion), with investors including a16z and NVIDIA (Source: PitchBook).

2,Abridge:Valued at $5.3 billion (about RMB 38.07 billion)

The AI medical tech company, founded in 2018, completed a $300 million (roughly Rs. 1.79 billion) Series E round of financing in June this year at a valuation of $5.3 billion (roughly Rs. 38.07 billion), and has raised more than $760 million (roughly Rs. 5.46 billion) so far, with investors that include Elad Gil and IVP (Source: PitchBook).

3,Celestial AI:Valued at $2.5 billion (about RMB 17.93 billion)

Celestial AI was founded in 2020 and completed a $250 million (about RMB 1.79 billion) Series C round of financing in March this year, led by Fidelity, at a valuation of $2.5 billion (about RMB 17.93 billion), and has raised more than $580 million (about RMB 4.16 billion) to date, with investors including BlackRock and Engine Ventures (data Source: Crunchbase, PitchBook).

4,Hippocratic AI:Valued at $1.64 billion (roughly Rs. 11.76 billion)

Hippocratic AI focuses on medical model development and was founded in 2023.Hippocratic AI closed a $141 million (roughly Rs. 1.01 billion) Series B funding round led by Kleiner Perkins in January this year at a valuation of $1.64 billion (roughly Rs. 11.76 billion) (Source: Crunchbase).

5,Decagon:Valued at $1.5 billion (about RMB 10.76 billion)

Decagon, an enterprise-level AI customer service platform founded in 2023, completed a $131 million (roughly Rs. 940 million) Series C funding round in June this year at a valuation of $1.5 billion (roughly Rs. 10.76 billion), and has raised more than $231 million (roughly Rs. 1.66 billion) to date, with investors containing a16z and Accel (Source: PitchBook).

6,Netradyne:Valued at $1.35 billion (about RMB 9.68 billion)

The computer vision company, founded in 2015, completed a $90 million (roughly Rs. 650 million) Series D round of financing in January this year at a valuation of $1.35 billion (roughly Rs. 9.68 billion), which was led by Point72 Ventures (Source: Crunchbase).

7,Clay:Valued at $1.25 billion (about RMB 8.96 billion)

Clay was founded in 2017, focusing on AI sales platforms, and completed $40 million (about RMB 290 million) of Series B financing in January this year at a valuation of $1.25 billion (about RMB 8.96 billion), with more than $100 million (about RMB 720 million) in financing so far, and investors including Sequoia Capital, First Round, etc. (Data source: PitchBook).

8,Assured:Valued at $1 billion (about Rs. 7.17 billion)

The 2019-founded AI claims processing company closed a $23 million (roughly Rs 160 million) Series B funding round in March this year at a valuation of $1 billion (roughly Rs 7.17 billion). Assured has raised over $26 million (roughly Rs. 190 million) so far, with investors including ICONIQ Capital and Kleiner Perkins.

 

02. with a total valuation of approximately $26 billion.Two "dark horses" emerge from the robotics track.

In the field of robotics, two companies, The Bot Company and Gecko, have raised over 1.2 billion yuan in combined financing, with a total valuation of 25.96 billion yuan, and the capital market has begun to take an interest in the robotics track.

▲Ranked by valuation amount, USD/CNY exchange rate on July 8: 1 USD ≈ 7.17 CNY

1,The Bot Company:Valued at $2 billion (about Rs. 14.34 billion)

The robotics platform, which was founded in 2024, raised $300 million (roughly Rs. 2.15 billion) so far after its latest $150 million (roughly Rs. 1.08 billion) early-stage funding round in March this year, valuing it at $2 billion (roughly Rs. 14.34 billion) (Source: PitchBook).

2,Gecko:Valued at $1.62 billion (about RMB 11.62 billion)

Gecko, which makes data collection robots with the ability to climb, crawl, swim and fly, was founded in 2013. According to PitchBook data, Gecko completed a $121 million (RMB 870 million) Series D financing in June this year, valuing the company at $1.62 billion (RMB 11.62 billion). It has raised over $340 million (about RMB 2.44 billion) to date, with investors including Cox Enterprises and Drive Capital.

 

03. Data analytics platform leads the way at $2.5 billion valuation, theBlockchain trading, sports technology and other areas "blossom"

In the case of software and platform companies.with 14 companies among the unicorns.Covering a wide range of sectors such as data analytics, blockchain trading, recruitment platforms, fleet management, sports technology, software development tools and more. Among them, data analytics platform Peregrine led the way with a valuation of $2.5 billion (roughly Rs. 17.93 billion), followed by Kalshi, Mercor, and other companies, all valued at $2 billion (roughly Rs. 14.34 billion).

▲Ranked by valuation amount, USD/CNY exchange rate on July 8: 1 USD ≈ 7.17 CNY

1,Peregrine:Valued at $2.5 billion (about RMB 17.93 billion)

The data analytics platform, founded in 2017, closed a $190 million (roughly Rs. 1.36 billion) Series C funding round in March this year, valuing it at $2.5 billion (roughly Rs. 17.93 billion). It has raised over $250 million to date, with investors including Sequoia Capital and Fifth Down Capital, (Source: PitchBook)

2,Kalshi:Valued at $2 billion (about Rs. 14.34 billion)

The popular prediction marketplace company and blockchain trading platform, founded in 2018, closed a $185 million (roughly Rs 1.33 billion) Series C funding round last month at a valuation of $2 billion (roughly Rs 14.34 billion).Kalshi has raised over $290 million (roughly Rs 2.08 billion) so far, with investors including Sequoia Capital and Global Founders Capital (Source: PitchBook).

3,Mercor:Valued at $2 billion (about Rs. 14.34 billion)

The 2022-founded contract hiring platform closed a $100 million (roughly Rs. 720 million) Series B funding round valued at $2 billion (roughly Rs. 14.34 billion) from investors including Felicis, Menlo Ventures, Jack Dorsey and others.

4,Fleetio: Valued at $1.5 billion (about RMB 10.76 billion)

Fleetio, based in Alabama, USA, was founded in 2012 as a fleet management software company, and closed a $454 million (RMB 3.26 billion) Series D round of financing in March this year at a valuation of $1.5 billion (RMB 10.76 billion).Fleetio has raised $624 million (RMB 4.48 billion) to date, with investors including Elephant and Goldman Sachs Growth Equity (Source: PitchBook).

5,Underdog Fantasy:Valued at $1.3 billion (about RMB 9.32 billion)

The 2020-founded sportsbook closed a $70 million (roughly Rs. 500 million) Series C funding round in March this year, valuing the company at $1.3 billion (roughly Rs. 9.32 billion). It has raised over $100 million (roughly Rs. 720 million) so far, with investors including Spark Capital (Source: Crunchbase, PitchBook).

6,Hightouch:Valued at $1.2 billion (about RMB 8.61 billion)

The data platform, founded in 2018, is the latest to close an $80 million (roughly Rs. 570 million) Series C round valuing the company at $1.2 billion (roughly Rs. 8.61 billion), and has raised $171 million (roughly Rs. 1.23 billion) to date, with investors including Sapphire Ventures and Bain Capital Ventures (Source: PitchBook).

7,Linear:Valued at $1.25 billion (about RMB 8.96 billion)

Linear, which focuses on software development project management tools, closed $82 million (about RMB 590 million) in Series C funding in June this year, valued at $1.25 billion (about RMB 8.96 billion). Founded in 2019, the company has raised more than $130 million (about RMB 930 million) cumulatively, with investors including Accel and Sequoia Capital (Source: PitchBook).

8,Meter:Valued at $1.25 billion (about RMB 8.96 billion)

Meter, a company specializing in providing hosted Internet infrastructure services for enterprises, completed a $170 million (RMB 1.22 billion) Series C round of financing in June this year at a valuation of $1.25 billion (RMB 8.96 billion).Founded in 2015, Meter has accumulated more than $250 million (RMB 1.79 billion) in financing, with investors including General Catalyst, Sequoia Capital, OpenAI co-founder and CEO Sam Altman and Lachy Groom (Source: PitchBook).

9,Teamworks:Valued at $1.25 billion (about RMB 8.96 billion)

Teamworks, a sports software company, closed a $247 million (RMB 1.77 billion) Series F funding round in June this year, valuing the company at $1.25 billion (RMB 8.96 billion). Since its founding in 2006, Teamworks has raised more than $400 million (RMB 2.87 billion) to date, with investors including Seaport Capital and General Catalyst (Source: PitchBook).

10,Statsig:Valued at $1.1 billion (roughly Rs. 7.89 billion)

The 2021-founded product development platform, which closed a $100 million (roughly Rs. 720 million) Series C funding round in May this year at a valuation of $1.1 billion (roughly Rs. 7.89 billion), has raised about $153 million (roughly Rs. 1.1 billion) so far, with investors that include Sequoia Capital, Madrona and ICONIQ Growth (Source: PitchBook).

11,Owner:Valued at $1 billion (about Rs. 7.17 billion)

Restaurant marketing software company Owner, founded in 2018, has recently closed a $120 million (roughly Rs. 860 million) Series C funding round at a valuation of $1 billion (roughly Rs. 7.17 billion). It has raised over $180 million (roughly Rs 1.29 billion) to date, with investors including Headline, Redpoint Ventures and others (Source: PitchBook).

12,Awardco:Valued at $1 billion (about Rs. 7.17 billion)

The employee engagement platform is the latest to close a $165 million (roughly Rs. 1.18 billion) Series B funding round at a valuation of $1 billion (roughly Rs. 7.17 billion).Awardco, which was founded in 2012, has raised more than $230 million (roughly Rs. 1.65 billion) to date, with investors including General Catalyst (Source: PitchBook).

13,Build Ops:Valued at $1 billion (about Rs. 7.17 billion)

Build Ops, a software company founded in 2018, closed a $122.6 million (roughly Rs. 880 million) Series C round of funding in March this year, valuing it at $1 billion (roughly Rs. 7.17 billion.) Build Ops has raised $273 million (roughly Rs. 1.96 billion) to date, with investors including Founders Fund and Fika Ventures (Source: PitchBook).

14,Kikoff:Valued at $1 billion (about Rs. 7.17 billion)

The 2019-founded personal finance platform was valued at $1 billion (roughly Rs. 7.17 billion) in a funding round (amount undisclosed) in January this year. It has raised $42.5 million (roughly Rs. 300 million) so far, with investors including Female Founders Fund, Lightspeed Venture Partners and basketball star Steph Curry (Source: PitchBook).

 

04. Healthcare attracts cross-border investment.Microsoft followed the investment

The healthcare tech sector also saw strong capital market raises, with a total of6 enterprisesAmong the ranks of unicorns. It is worth noting that the trend of cross-border investment in the field of medical and health technology is obvious, and Microsoft and other technology giants are actively laying out the medical and health track through strategic investment.

▲Ranked by valuation amount, USD/CNY exchange rate on July 8: 1 USD ≈ 7.17 CNY

1,Function:Valued at $2.5 billion (about RMB 17.93 billion)

The health tech company, founded in 2020, closed a $200 million (roughly Rs. 1.43 billion) funding round in May this year at a valuation of $2.5 billion (roughly Rs. 17.93 billion), and has raised more than $250 million (roughly Rs. 1.79 billion) so far, with investors including a16z (Source: PitchBook).

2,Pathos: Valued at $1.6 billion (about RMB 11.47 billion)

Pathos is a drug discovery and development company founded in 2020, which completed a $365 million (roughly Rs. 2.62 billion) Series D funding round in May this year at a valuation of $1.6 billion (roughly Rs. 11.47 billion), and has raised more than $460 million (roughly Rs. 3.3 billion) to date, with investors including General Catalyst and Altimeter Capital Management (Source: PitchBook).

3,Chapter: Valued at $1.38 billion (about Rs. 9.9 billion)

Founded in 2013, Chapter is a healthcare-guided health tech company that closed a $75 million (roughly Rs. 540 million) Series D round of funding in April this year at a valuation of $1.38 billion (roughly Rs. 9.9 billion).Chapter has raised $186 million (roughly Rs. 1.33 billion) to date, with investors including XYZ Venture Capital and Narya (Source: PitchBook).

4,Nourish: Valued at $1 billion (approximately RMB 7.17 billion)

The dietitian telemedicine company, founded in 2020, closed a $70 million (roughly Rs. 500 million) Series B funding round in April this year, valuing it at $1 billion (roughly Rs. 7.17 billion) (Source: PitchBook) Nourish has raised more than $100 million (roughly Rs. 720 million) so far, with investors including Index Nourish has raised more than $100 million (about RMB 720 million) so far, with investors including Index Ventures and Thrive Capital.

5,Insilico Medicine: Valued at $1 billion (approximately RMB 7.17 billion)

The drug discovery and development company, which was founded in 2014, closed a $110 million (roughly Rs. 790 million) Series E funding round in March this year, valuing it at $1 billion (roughly Rs. 7.17 billion.) Insilico Medicine has raised more than $500 million (roughly Rs. 3.59 billion) to date, with investors including Eli Lilly Ventures and Wheatley Group (Source: Crunchbase).

6,OpenEvidence: Valued at $1 billion (approximately RMB 7.17 billion)

OpenEvidence, a medical technology company founded in 2017, completed a $75 million (roughly Rs. 540 million) Series A round of financing in February this year at a valuation of $1 billion (roughly Rs. 7.17 billion), and has raised $135 million (roughly Rs. 970 million) to date, with investors that include Sequoia Capital (Source: PitchBook).

7,Truveta: Valued at $1 billion (approximately RMB 7.17 billion)

The 2020-founded genetic research company closed a $320 million funding round (roughly Rs. 2.29 billion) at a valuation of $1 billion (roughly Rs. 7.17 billion), with investors including Microsoft and Regenerative Pharmaceuticals' Corporate Venture Capital arm (Source: Crunchbase).

 

05. Satellite company raises $1.2 billion.Space Economy Goes Commercial  

In addition, the satellite company Loft Orbital in this year completed 170 million U.S. dollars (about 1.22 billion yuan) C round of financing, the valuation of 1 billion U.S. dollars (about 7.17 billion yuan), the space economy or is gradually moving towards commercialization.

▲Ranked by valuation amount, USD/CNY exchange rate on July 8: 1 USD ≈ 7.17 CNY

1,Olipop:Valued at $1.96 billion (roughly RMB 14.06 billion)

Olipop, a functional soda company founded in 2018, completed a $137.9 million (roughly Rs. 990 million) Series C round of funding in March this year at a valuation of $1.96 billion (roughly Rs. 14.06 billion), and has raised $243 million (roughly Rs. 1.74 billion) to date, with investors including Scoop Ventures and JPMorgan Chase Growth Equity.

2,SpreeAI:Valued at $1.5 billion (about RMB 10.76 billion)

The shopping tech company is valued at $1.5 billion (roughly Rs 10.76 billion) after its latest funding round (amount undisclosed), according to PitchBook.SpreeAI, which was founded in 2020, has raised more than $20 million (roughly Rs 140 million) so far, with investors including Davidson Group.

3,Threatlocker:Valued at $1.2 billion (about RMB 8.61 billion)

The Orlando-based data protection company, which was founded in 2017, is the latest to close a $60 million (roughly Rs 430 million) Series E round valuing the company at $1.2 billion (roughly Rs 8.61 billion), and has raised more than $200 million (roughly Rs 1.43 billion) to date, with investors that include General Atlantic and StepStone Group (data Source: PitchBook).

4,Cyberhaven:Valued at $1 billion (about Rs. 7.17 billion)

Data inspection company Cyberhaven closed a $100 million (roughly Rs. 720 million) Series D funding round in April this year at a valuation of $1 billion (roughly Rs. 7.17 billion). Since its inception in 2015, Cyberhaven has raised over $200 million (roughly Rs 1.43 billion) to date, with investors including Khosla Ventures and Redpoint Ventures (Source: PitchBook).

5,Loft Orbital:Valued at $1 billion (about Rs. 7.17 billion)

The satellite company, which was founded in 2017, closed a $170 million (roughly Rs 1.22 billion) Series C funding round at a valuation of $1 billion (roughly Rs 7.17 billion) from investors including Temasek, Uncork Capital and Tikehau Capital (Source: Crunchbase).

 

06. Conclusion: Active capital markets in the United States.Diversification of capital layout

The first half of this year, the U.S. capital market is still very active, smart things previously reported that only the first quarter, the U.S. completed the number of super financing in the field of AI has exceeded the same period in 2024. Of course, the capital line of sight does not just stay in the AI field, but also take into account the medical, software, platforms, and even functional soda, can be said to be "rain and dew".

In terms of the industry distribution of equity financing (including IPO and refinancing) in the U.S. stock market, according to Wind Data, in the first half of 2025, the non-banking financial industry ranked first in terms of financing scale; the software service industry ranked second; and the pharmaceutical and biological industry ranked third. This distribution feature can also be confirmed by the industry affiliation of the 36 newly promoted technology unicorns.

Note: This article is sourced from Smart Stuff