AI Frenzy Spawns 50+ Unicorns in 2025

• Over 55 venture-backed startups became unicorns in 2025
• Combined valuations exceed $150 billion
• AI companies account for roughly 60% of new unicorns
• The largest newcomer is Thinking Machines at $10 billion
• Why it matters: Record funding shows investors still betting big on tech despite economic uncertainty

The surge began in January when personal-finance platform Kikoff, computer-vision firm Netradyne, genetic-research company Truveta, AI sales tool Clay, recruiting marketplace Mercor, and satellite operator Loft Orbital all crossed the billion-dollar mark. The pace accelerated each month, peaking in June when Reflection raised a $2 billion Series B and reached an $8 billion valuation.

Artificial intelligence startups captured the most capital and highest valuations. Thinking Machines, founded by former OpenAI executive Mira Murati, raised a $2 billion seed round in June and was valued at $10 billion. Other AI giants include Luma ($4 billion), Fireworks AI ($4 billion), Fal ($4 billion), and Unconventional AI ($4.5 billion).

Yet non-AI companies also scored outsized funding. Satellite manufacturer Loft Orbital and blockchain-based prediction market Kalshi each reached $1 billion and $2 billion valuations, respectively. Nuclear-energy startup Radiant hit $1.8 billion, while vertical-farming company Oishii and defense-tech supplier HawkEye 360 each achieved $1.2 billion and $2 billion valuations.

December

• Heven Aerotech – $1B: Hydrogen-powered drones, raised $100M Series B
• Unconventional AI – $4.5B: Energy-efficient AI hardware, $475M seed
• Saviynt – $3B: Identity-management cybersecurity, $700M Series B

November

• Main Func – $1.25B: AI agents for white-collar tasks, $275M Series B
• Gamma – $2.1B: AI-generated visuals, $68M Series B led by a16z
• Luma – $4B: AI video generation, $900M Series C
• Reflection – $8B: Open foundation models, $2B Series B

October

• Modal – $1.1B: AI cloud computing, $87M Series B
• Fireworks AI – $4B: Open-source AI infrastructure, $250M Series C
• LangChain – $1.3B: Agent engineering platform, $125M Series B

September

• You.com – $1.5B: Enterprise AI platform, $100M Series C
• Baseten – $2.2B: AI model inference, $150M Series D
• Flying Tulip – $1B: Decentralized trading, $200M seed

August

• Shrapnel – $1.1B: Video game developer, $19.5M Series A
• Fal – $4B: Developer media platform, ~$250M late-stage
• Field AI – $2B: Autonomous robot software, $315M round
• Polymarket – $9B: Prediction market, >$2B raised

July

• Castellion – $2.8B: Military strike systems, $350M Series B
• MaintainX – $2.5B: Industrial workflow software, $150M Series D
• Ambience – $1.25B: AI medical scribe, $243M Series C

June

• Thinking Machines – $10B: AI research, $2B seed
• Kalshi – $2B: Prediction markets, $185M Series C
• Decagon – $1.5B: Customer-service AI agents, $131M Series C

May

• Pathos – $1.6B: Drug development, $365M Series D
• Statsig – $1.1B: Product-development platform, $100M Series C
• Function – $2.5B: Health-tech marketplace, $200M round

April

• Nourish – $1B: Dietitian telehealth, $70M Series B
• Chapter – $1.38B: Medicare guide, $75M Series D
• Threatlocker – $1.2B: Data protection, $60M Series E

March

• Fleetio – $1.5B: Fleet-management software, $454M Series D
• The Bot Company – $2B: Robotics platform, $150M early-stage
• Celestial AI – $2.5B: AI photonics, $250M Series C

February

• Abridge – $2.8B: Medical documentation AI, $250M Series D
• OpenEvidence – $1B: Medtech evidence platform, $75M Series A
• Hightouch – $1.2B: Data platform, $80M Series C

January

• Kikoff – $1B: Personal-finance app, undisclosed round
• Netradyne – $1.35B: Computer vision, $90M Series D
• Hippocratic AI – $1.6B: Healthcare language models, $141M Series B
• Truveta – $1B: Genetic research, $320M round
• Clay – $1.25B: AI sales prospecting, $40M Series B
• Mercor – $2B: Recruiting marketplace, $100M Series B
• Loft Orbital – $1B: Satellite services, $170M Series C