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AI continued to attract fresh venture capital this week, but the money was spread across very different parts of the technology economy. From optical hardware for data centers and AI-designed drugs to procurement software and retail automation, five companies announced new funding rounds. Together, the deals show investors backing startups that are building infrastructure as well as applications around AI.
PicoJool raised USD 27.5 million in Series A funding in a round led by Socratic Partners, with participation from Hudson River Trading. The financing takes the company's total funding to USD 39.5 million, following a USD 12 million seed round. PicoJool develops optical connectivity products, including 200G VCSELs, microVCSELs, and optical links for AI data centers.
The company plans to use the new capital to expand its teams and facilities in the US and Taiwan and increase its capacity to manufacture and support products for hyperscalers and data-center operators.
Biotech startup BigHat Biosciences closed a USD 75 million Series C co-led by DFJ Growth and Premji Invest. The financing brings its total funding to USD 223 million. BigHat is developing AI-designed protein therapeutics and an agentic data platform for rapid protein design.
The company said the fresh capital will support its clinical-stage pipeline and expand its platform for generating protein-design data. Its pipeline includes BHB810, an antibody-drug conjugate already in a Phase 1 trial.
Montreal-based Axya raised USD 17 million in Series A funding, led by McRock Capital with participation from Yamaha Motor Ventures and existing investors. Axya develops AI-powered procurement software for manufacturers, covering sourcing and purchasing workflows. The company plans to put the money into product development, AI capabilities, geographic expansion, and larger engineering and go-to-market teams.
Enterprise AI company Ema raised USD 77 million in Series B funding led by Creaegis, with Accel, Section 32 and Prosus also increasing their investments. The round takes Ema's total funding to USD 140 million. Its platform uses AI agents for corporate functions such as HR, IT, and finance.
Retail-focused startup Thri5 closed a USD 5.4 million seed round, co-led by Whitecap Venture Partners and Mistral Venture Partners. Its AI execution platform turns retail data and recommendations into actions across stores. The company says a nine-week Wild Fork Foods pilot resulted in gains in sales, profit, and inventory accuracy before the retailer expanded the deployment.
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The week's deals point to a practical side of the current AI funding cycle. Capital is moving beyond model development into the hardware, data, biotech and enterprise workflows needed to put AI to work. For startups, the challenge now is turning that investment into products that deliver measurable results outside the demo stage.
