Top Startups in San Diego
San Diego startups like Shield AI and Candid Therapeutics raised massive capital this year. See the top 20 deals and who is hiring in the city now.
- 01Artificial Intelligence (AI) • Consumer Electronics•California$1.5BSeries G
Shield AI, a venture-backed deep-tech defense autonomy company, raised $1.5 billion in Series G and $500 million in fixed-return preferred equity (total $2.0 billion) at a $12.7 billion post-money valuation led by Advent International and co-led by JPMorganChase’s Strategic Investment Group, with participation from Snowpoint Ventures, Innovation X Advisors, Riot Ventures, Disruptive, Apandion, and funds managed by Blackstone.
- 02Biotechnology • Data and Analytics•California$505MEquity
Candid Therapeutics, a T-cell engager biotech for autoimmune disease, raised over $505 million in an oversubscribed private financing from Venrock Healthcare Capital Partners, RA Capital Management, Janus Henderson Investors, T. Rowe Price–advised accounts, venBio Partners, Viking Global Investors, Cormorant Asset Management, Foresite Capital, Soleus Capital, TCGX, Vivo Capital, and other institutional investors, and simultaneously announced a merger with Rallybio.
- 03Biotechnology • Health Care•California$250MSeries B
Mirador Therapeutics, a precision immuno-fibrotic drug developer, raised a $250 million Series B round led by T. Rowe Price Investment Management with participation from Adage Capital Partners, funds managed by Fidelity, and existing investors.
- 04Biotechnology • Health Care•California$205MSeries A
Crystalys Therapeutics, a gout-focused biopharma company, raised a $205 million Series A equity round co-led by Novo Holdings, SR One and Catalys Pacific, with participation from a broad investor syndicate.
- 05Biotechnology • Health Care•California$137MSeries B
Sidewinder Therapeutics, a biopharmaceutical company developing next-generation bispecific ADCs, raised $137 million in a Series B co-led by Frazier Life Sciences and Novartis Venture Fund with participation from OrbiMed, Life Sciences at Goldman Sachs Alternatives, DCVC Bio, Samsara BioCapital, Longwood Fund, Astellas Venture Management, and Alexandria Venture Investments.
- 06Biotechnology • Health Care•California$130MSeries B
Clinical-stage protein-misfolding therapeutics company Protego Biopharma raised a $130 million Series B led by Novartis Venture Fund and Forbion, with participation from Omega Funds, Droia Ventures, YK Bioventures, Digitalis Ventures, Vida Ventures, MPM BioImpact, Lightspeed Venture Partners, and Scripps Research.
- 07Biotechnology • Health Care•California$125MSeries B
Ray Therapeutics, a clinical-stage biopharmaceutical company pioneering optogenetic vision restoration therapies, raised $125 million in an upsized and oversubscribed Series B led by Janus Henderson Investors with participation from Adage Capital Management, Franklin Templeton, Invus, Marshall Wace and follow-on support from 4BIO Capital, Deerfield Management, MRL Ventures Fund, Norwest, Novo Holdings A/S, and Platanus
- 08Biotechnology • Health Care•California$115MSeries C
Aspen Neuroscience, developing autologous iPSC-based Parkinson’s therapies, raised a $115 million Series C round co-led by OrbiMed, ARCH Venture Partners, Frazier Life Sciences and Revelation Partners, with participation from Kite (Gilead) and other new and existing investors.
- 09Biotechnology • Health Care•California$100MSeries B
Neomorph, a biotechnology company pioneering molecular glue degraders, raised $100 million in a Series B led by Deerfield Management with participation from Regeneron Ventures, Longwood Fund, Alexandria Venture Investments, Binney Street Capital and others.
- 10Artificial Intelligence (AI) • Data and Analytics•California$100MEquity
AI-driven drug-discovery startup Iambic Therapeutics raised an oversubscribed financing round of over $100 million from investors including Abingworth, Sequoia, Mubadala, Qatar Investment Authority, Regeneron Ventures, and others.
- 11Biotechnology • Health Care•California$84MSeries B Extension
BlossomHill Therapeutics raised an $84M Series B extension led by Janus Henderson Investors, Brahma Capital, and BioTrack Capital.
- 12Biotechnology • Health Care•California$70MSeries F
Rakuten Medical, a photoimmunotherapy cancer-therapy developer, raised a $100 million Series F (comprising $70 million new capital and $30 million note conversion) led by TaiAx Life Science Fund with participation from Daiwa Securities, Mitsui Sumitomo Insurance, Sumitomo Mitsui Banking, ABIES Capital, Nexus CVC, OEP Group, SBI Group, Rakuten Group and CEO Mickey Mikitani.
- 13Biotechnology • Data and Analytics•California$66MSeries B
Genetics-driven clinical-stage biotech Actio Biosciences raised a $66M Series B co-led by Regeneron Ventures and Deerfield Management, with participation from Canaan, Droia Ventures and Euclidean Capital.
- 14Biotechnology • Health Care•California$60MSeries B
Avenzo Therapeutics, a clinical-stage oncology biotech, raised a $60 million Series B round led by OrbiMed and SR One with participation from Longwood Fund and all existing investors.
- 15Data and Analytics • Government and Military•California$60MSeries D
Voice-based risk-assessment leader Clearspeed raised a $60M Series D led by Align Private Capital; IronGate Capital Advisors, Bravo Victor Venture Capital, KBW Ventures, and multi-round investor General David H. Petraeus participated.
- 16California$55MEquity
Monarch Quantum, a developer of integrated photonics hardware for quantum technologies, raised a $55M oversubscribed growth round led by Serendipity Capital with participation from 55 North and Global Innovation Labs
- 17Biotechnology • Health Care•California$52MSeries A
RNA therapeutics startup Arnatar raised a $52M Series A led by Eight Roads and 3E Bioventures; F-Prime, Zhuhai Huajin, Legend Star and others participated
- 18Biotechnology • Health Care•California$50MSeries B
Sirius Therapeutics, a siRNA therapeutics developer, raised nearly $50M Series B2 led by a corporate VC; BioTrack Capital, OrbiMed, Creacion Ventures, and Hankang Capital participated.
- 19Biotechnology • Health Care•California$45MSeries A
VST BIO, a biotechnology company developing vascular-disease therapeutics, raised $45 million in a Series A led by Coefficient Giving.
- 20Financial Services • Health Care•California$40MSeries C
Turquoise Health, a healthcare pricing and payment platform provider, raised $40M in a Series C led by Oak HC/FT with participation from Andreessen Horowitz, Adams Street Partners, and Yosemite
