Syndication and co-investment for institutional venture capital.

XBOW, an autonomous offensive security company, has raised an additional $35 million as an extension to its Series C round, bringing the total raised in that round to $155 million and total lifetime funding to over $270 million. The new investors — Accenture Ventures, NVentures (NVIDIA's venture arm), Samsung Ventures, SentinelOne S Ventures, DNX Ventures, and Liberty Global Tech Ventures — are notable for a defining characteristic: several are also XBOW customers, reflecting a growing enterprise trend of backing the autonomous security tools they actively deploy. XBOW was founded in January 2024 by Oege de Moor, who previously created GitHub Copilot. The company has built a platform that uses thousands of autonomous AI agents to continuously probe software for vulnerabilities the way a human hacker would — at machine speed and without interruption, in contrast to the periodic manual penetration tests that have historically been the industry standard. De Moor says XBOW was the first to demonstrate how large language models could be applied to offensive security at scale, reaching the top of the HackerOne leaderboard and deploying at more than 100 customers worldwide, including pharmaceutical company Moderna. The initial $120 million Series C, announced in March 2026 and led by DFJ Growth and Northzone with participation from Sequoia Capital, Altimeter, and others, valued the company at over $1 billion. The company lists Seattle as its headquarters — though its address there is a mailbox at a Pioneer Square coworking space, with founder and CEO de Moor based in Malta. The setup reflects the remote-first nature of the company, and its funding rounds count toward Seattle's venture capital totals regardless. The new capital will be used to accelerate go-to-market and international expansion, including a recently announced integration with Microsoft Security Copilot and Microsoft Sentinel. XBOW has also expanded its leadership team, appointing a Chief Marketing Officer, Chief Revenue Officer, and General Counsel, and naming a General Manager for South Korea as part of a broader Asia-Pacific push.

ReFiBuy, a Raleigh-based Agentic Commerce Optimization (ACO) platform, has raised $13.6 million in an oversubscribed seed round led by NewRoad Capital Partners. The round included Ridge Ventures, Silicon Road Ventures, Incubate Fund, and VELA Partners, with continued backing from G20 Ventures, Commerce Ventures, and Knoll Ventures. The capital will be used to scale its Commerce Intelligence Engine and accelerate go-to-market efforts. The company was founded in 2025 by Scot Wingo, a serial entrepreneur whose previous ventures include ChannelAdvisor — an e-commerce platform that went public in 2013 and sold to private equity in 2022 — as well as the on-demand car-care company Spiffy and the Triangle Tweener Fund. ReFiBuy currently has around 20 employees based in downtown Raleigh and plans to hire another 10 in the coming months. The company is targeting a shift in how products are discovered online. AI shopping agents — powered by tools like ChatGPT, Claude, Perplexity, and AI-enhanced Google search — are becoming a primary interface through which consumers research and buy products, with between 30% and 45% of US consumers now using generative AI for purchase research, according to Bain. Traditional search engine optimisation no longer covers this new discovery layer. ReFiBuy builds tools that prepare brands' product data at the individual SKU level so AI agents can accurately evaluate, compare, and recommend those products, and consults with companies on how to keep pace with rapid changes in the space. Bain & Company projects that agent-driven shopping could reach between $300 billion and $500 billion in US sales by 2030, making the infrastructure layer ReFiBuy is building an increasingly critical part of the e-commerce stack.

Colorado-based Lunar Outpost has closed an oversubscribed $30 million Series B led by Industrious Ventures, with participation from Type One Ventures, Eniac Ventures, Reliable Equity, and others. The funding will accelerate production of its rover systems, expand manufacturing capacity, and advance deployment of mission-ready systems for NASA's Artemis programme and US national security programmes. Founded in 2017 by Justin Cyrus (CEO), AJ Gemer (CTO), Forrest Meyen (CSO), and Julian Cyrus (COO), Lunar Outpost develops advanced robotic systems and mobility platforms for extreme environments. The company operated the first commercial rover on the Moon and holds eight fully contracted lunar and cislunar missions launching before 2030 — more rovers headed to the Moon than all other commercial companies combined. It has doubled revenue each year for the past four years. At the core of its product line is the MAPP (Mobile Autonomous Prospecting Platform) rover, which has seen multiple generations of development. The company is also one of three finalists competing for NASA's $4.6 billion Lunar Terrain Vehicle Services (LTVS) contract, leading the Lunar Dawn team alongside General Motors, Goodyear, Leidos, and MDA Space to develop a human-rated rover for the Artemis crewed missions. In addition, Lunar Outpost is developing its Starweave autonomous swarm software and Stargate Command, Control, and Communications platform. The raise comes as NASA accelerates its Artemis Moon Base ambitions under Administrator Jared Isaacman, with a three-phase plan requiring up to $30 billion in investment over the next decade and semiannual crewed missions from 2028. Lunar Outpost plans to build out the broader infrastructure layer the new space economy requires, including power systems, communications, habitats, and launch and landing pads.

BirdyChat, a Riga-based messaging startup founded in 2025, has raised €1.7 million to build a professional chat app that separates work conversations from personal messaging apps. The round was led by DIG Ventures, with participation from Change Ventures, Tiny VC, FIRSTPICK, Lumo Capital, Tesonet, Bolt co-founder Markus Villig, and Charlie Songhurst. The company is founded by Rolands Mesters and Martins Spilners. Mesters previously built Nordigen, an open banking API that connected to more than 2,000 European banks before being acquired by GoCardless in 2022. He spotted the problem behind BirdyChat while at Nordigen, watching his personal phone fill up with work messages from investors and partners. A poll he ran on LinkedIn in 2025 found that 72% of respondents feel uncomfortable using personal apps for work — yet most do it anyway. BirdyChat uses professional email addresses as usernames rather than phone numbers, so users never have to share personal contact details with clients. The app includes threaded replies and conversation lists organised by project or client. A key technical advantage comes from the EU's Digital Markets Act, which since 2024 has required major platforms including WhatsApp to allow third-party apps to connect to their networks — BirdyChat was among the first to use this, letting users message WhatsApp contacts directly from a work identity rather than a personal number. The company positions itself against Slack Connect and other tools it argues were built for a different era, before AI became a genuine platform layer. BirdyChat is being built from scratch with AI productivity features central to its roadmap. The new capital will be used to build a web app, add AI features, and open the platform to a 50,000-person European waitlist.

OpenTrade, a London-based stablecoin yield infrastructure platform, has raised $17 million in a strategic round led by Mercury Fund and Notion Capital, with participation from a16z Crypto, AlbionVC, and CMCC Global. The raise brings its total funding to over $30 million and comes as the global stablecoin market surpasses $310 billion in supply. Founded by David Sutter, OpenTrade provides plug-and-play infrastructure that allows fintechs, neobanks, and exchanges to offer dollar- and euro-denominated yield products backed by real-world assets, without needing to build their own investment or custody stacks. The platform serves clients through two models: permissioned infrastructure for regulated, custodial stablecoin products, and permissionless infrastructure for non-custodial platforms and asset issuers operating in the DeFi space. It also offers Curation+, a service that curates custom vaults with institutional-grade yield sources through Five Sigma Finance, an FCA-regulated asset manager. OpenTrade's total value locked recently surpassed $200 million, with transaction volumes exceeding $250 million in 2025. In the first four months of 2026 alone the platform has processed over $300 million, and the company projects more than $1 billion in transaction volume by year-end. The new capital will be used to expand both permissioned and permissionless infrastructure, scale Curation+ services, and grow engineering, asset management, and customer success teams to support a growing global client base.

Pit, a Swedish startup formally known as Pitdotcom Sweden AB, has raised $16 million in its first major funding round led by Andreessen Horowitz. The round also saw participation from Lakestar and senior executives from OpenAI, Anthropic, Google, Revolut, and Deel. Pit has built an AI-native product team-as-a-service platform designed to replace the patchwork of spreadsheets, email inboxes, and disconnected SaaS tools that most enterprises run on today. Users describe a business need — an operations, finance, or customer workflow — explain how the existing process works, and Pit translates that into a customised, production-grade software application that can be deployed immediately. The platform learns how an organisation works and builds the systems to run it, rather than forcing companies to adapt their operations around third-party software. The platform has two core components. Pit Studio is the development portal that builds and manages the systems, while Pit Cloud provides the governed infrastructure with tenant isolation and full audit observability to ensure compliance. Unlike low-code tools or AI copilots that generate fragile prototypes, the company claims its platform creates real software built for production. It integrates directly with existing enterprise tools, pulling data from them and eliminating the need to constantly switch between applications. The platform has already been deployed across telecommunications, e-commerce, healthcare, and logistics. Early adopters report an average of 10,000 hours saved annually on manual work, 99% automated invoice acceptance rates, and an 85% reduction in marketing campaign execution time. Co-founder and CEO Adam Jafer said the era of enterprises renting software that forces them to operate around it is coming to an end — with AI, companies can now run on systems they actually designed themselves.