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SEC Fundraising Activity ( Oct 1 – 31, 2025 )

StartupsCrowdfundedIPOsVenture Funds
216 77 49 7

Startup Funding

Startup Fundraising Activity – October 2025

October 2025 saw robust private equity activity, with 216 startups raising capital through SEC filings. The month’s fundraising spanned a diverse set of industry verticals, with notable concentrations in technology, biotechnology, health care, real estate, manufacturing, and financial services. The continued strength in these sectors highlights ongoing investor confidence in both digital transformation and life sciences, as well as the enduring appeal of real assets and fintech innovation.

Key Industry Verticals

  • Technology: Dominated the field, with sub-sectors including AI, cybersecurity, SaaS, and automation.
  • Biotechnology & Health Care: A significant number of companies focused on therapeutics, diagnostics, and health tech.
  • Real Estate & REITs: Large offerings in both commercial and residential development.
  • Manufacturing & Energy: Activity in advanced materials, clean energy, and sustainable manufacturing.
  • Financial Services: Fintech and alternative lending platforms continued to attract capital.

Standout Companies & Notable Raises

Mega-Rounds & Industry Leaders

  • Crusoe Inc. (Denver, CO) led the month with a staggering $1.37 billion raise from 71 investors. Crusoe’s focus on digital infrastructure and sustainable computing positions it as a critical player in the intersection of energy and cloud technology.
  • Acacia Property Corp 2025 (San Mateo, CA) secured $700 million for real estate investment, reflecting continued institutional appetite for property-backed assets.
  • Edgewood Properties, LLLP (Grand Forks, ND) attracted 477 investors, underscoring the broad appeal of diversified real estate portfolios.

Innovation & Technological Advancement

  • Whatnot Inc. (San Francisco, CA) raised $225 million. As a live-stream shopping platform, Whatnot is redefining e-commerce and social selling.
  • Tidal Vision Products, Inc. (Bellingham, WA) brought in $196 million. Their work in sustainable biomaterials, particularly chitosan from seafood waste, is a prime example of circular economy innovation.
  • Skyryse, INC. (El Segundo, CA) raised $192 million to advance autonomous flight technology, aiming to make aviation safer and more accessible.
  • Blue Current, Inc. (Hayward, CA) with a $100 million round, is pushing the boundaries of solid-state battery technology, a key enabler for next-generation electric vehicles and grid storage.

Health & Life Sciences

Sustainability & AgTech

  • Nitricity Inc. (Stanford, CA) raised $64 million to decarbonize fertilizer production, a critical step for sustainable agriculture.
  • EarthOptics, Inc. (Arlington, VA) is leveraging soil sensing and AI to improve land management and carbon sequestration.

Other Noteworthy Raises

Trends & Takeaways

  • Investor Appetite Remains Strong: Large rounds and high investor counts signal robust confidence in both established and emerging sectors.
  • Sustainability & Deep Tech: Startups tackling climate, energy, and advanced manufacturing are attracting significant capital.
  • Health Innovation: Biotech and medtech continue to be magnets for investment, with a focus on both chronic and acute conditions.
  • Real Estate Resilience: Despite macroeconomic headwinds, real estate offerings remain a staple for diversified portfolios.

As we move into the final quarter of 2025, the pace and diversity of startup fundraising suggest a healthy innovation ecosystem, with capital flowing to both transformative technologies and essential infrastructure. Stay tuned for next month’s highlights as we continue to track the pulse of private market activity.

Top Companies

Crusoe Inc., Denver, CO
Crusoe Energy Systems LLC is on a mission to align the future of computing with the future of the climate.
Offering Amount: $1.37B, Sold: $1.03B, Investors: 71

Acacia Property Corp 2025, San Mateo, CA
Acacia Capital is a real estate investment firm specializing in multifamily apartment properties and residential land investments.
Offering Amount: $700M, Sold: $298.38M, Investors: 42

Whatnot Inc., San Francisco, CA
Whatnot Inc. is a social marketplace that allows users to buy and sell a variety of products through live auctions.
Offering Amount: $225M, Sold: $225M, Investors: 8

Tidal Vision Products, Inc., Bellingham, WA
Tidal Vision is a chitosan biomolecular solutions provider dedicated to addressing humanity’s greatest chemistry and pollution challenges.
Offering Amount: $196.05M, Sold: $189.02M, Investors: 85

Skyryse, INC., El Segundo, CA
SKYRYSE, INC. is a pioneering company focused on developing autonomous flight technology.
Offering Amount: $192.28M, Sold: $167.08M, Investors: 46

Crowdfunding Offerings

Crowdfunding Activity: October 2025

October saw a robust 77 companies file crowdfunding offerings with the SEC, spanning a diverse array of business verticals. The most common sectors represented include food and beverage, health and wellness, technology, real estate, and consumer products. This month’s cohort reflects the continued democratization of early-stage investing, with offerings ranging from as little as $9,996 to $500,000.

Noteworthy Trends and Standout Companies

Food & Beverage remains a dominant vertical, with companies like Artisan Tropic, LLC, Waffles, INCaffeinated Co., LLC, and Black Mamba Foods Holdings, Inc. seeking capital to expand their culinary footprints. The beverage space is also well-represented, with craft spirits (Wilder Whiskey LLC, Kapena Spirits Co.), coffee (Puroast Coffee Co Inc, Zemi Coffee Cart LLC), and even international flavors (Soju Ventures International Inc.).

Health & Wellness is another key theme, with companies like Fisher Wallace Laboratories, Inc. and Emulate Therapeutics, Inc. working on innovative medical devices and therapies. Celeste Health, Inc. and Ravel Health LLC are also notable for their focus on digital health solutions.

Technology & Advanced Manufacturing is well-represented, with several companies pushing the boundaries of what’s possible:

  • Jetoptera, Inc. stands out for its work in next-generation aviation, developing unique propulsion systems that could reshape urban air mobility.
  • Lift Aircraft Inc. is another aviation innovator, working on personal electric vertical takeoff and landing (eVTOL) aircraft, a sector attracting significant investor and regulatory attention.
  • Etherdyne Technologies, Inc. and Clue Genetics Inc. are advancing the frontiers of electronics and biotechnology, respectively.

Sustainability & Environmental Impact is a growing focus, with TerraCycle US Inc. continuing its mission to eliminate waste through innovative recycling solutions. Gold Leaf Farming LP is another example, bringing sustainable practices to agriculture.

Social Impact & Inclusion is also on the rise. Just Her Rideshare, Inc. is addressing safety and inclusivity in transportation, while Rebundle, Inc is innovating in eco-friendly hair products for women of color.

Companies to Watch

Conclusion

The October 2025 crowdfunding filings reflect a vibrant ecosystem of innovation, with entrepreneurs tackling challenges in transportation, sustainability, health, and consumer products. As always, these offerings provide a window into the next generation of American business—and a chance for everyday investors to participate in their growth stories.

Top Companies

Virginia Beach Arena Corp, Virginia Beach, VA
Virginia Beach Arena Corporation is developing an NBA and NHL-ready arena in Virginia Beach, designed to host concerts, sports, and special events.
Offering Amount: $500,000

Green Bridge Corp, Raleigh, NC
Green Bridge is a clean energy company headquartered in Raleigh, North Carolina, focused on scaling the commercial and industrial (C&I) middle market in the United States.
Offering Amount: $484,975

Highland Lake Camp Inc., Gainsboro, TN
Highland Lake Camp Inc. is a Tennessee-based company developing a 500-acre family-centered outdoor destination in Jackson County.
Offering Amount: $400,000

Gold Leaf Farming LP, Modesto, CA
Gold Leaf Farming LLC is a modern, sustainable farming company specializing in the acquisition and operation of specialty crop farmland, primarily almond and pistachio orchards.
Offering Amount: $387,250

Cartel Blue, Inc., Los Angeles, CA
Cartel Blue, Inc. is a U.S.-based company specializing in the production and sale of premium hemp cigars, THC products, and cannabis cigars.
Offering Amount: $250,000

IPOs

October 2025 IPO Activity Report

Overview

October 2025 was a robust month for IPO activity, with 49 companies filing to go public with the SEC. The filings spanned a diverse array of industries, with a notable concentration in financial services, technology (especially AI and blockchain), healthcare, and special purpose acquisition companies (SPACs). The month also saw several innovative ETFs and crypto-related offerings, reflecting ongoing investor interest in digital assets and decentralized finance.

Key Industry Verticals

Notable and Innovative Filings

Billiontoone, Inc.

A standout in the healthcare sector, BillionToOne is pioneering precision diagnostics with a focus on non-invasive prenatal testing and liquid biopsy for cancer. Their high share price range ($49–$55) and strong voting control by founders signal confidence in their technology and market potential.

Evommune, Inc.

Evommune is developing novel therapies for chronic inflammatory diseases, targeting significant unmet needs in dermatology and immunology. Their NYSE listing and substantial offering size highlight strong investor interest in biotech innovation.

Firefly Automatix, Inc.

FireFly Automatix is at the forefront of autonomous mobility and electric vehicle solutions for turfgrass management. Their vertically integrated approach and focus on sustainability address both labor shortages and environmental concerns in a $43.6 billion market.

Idea Acquisition Corp.

This SPAC is targeting the software sector, specifically companies leveraging large language models and AI tools. The focus on AI-driven business models reflects the growing importance of artificial intelligence in enterprise solutions.

21Shares Hyperliquid ETF & Osprey Solana Trust

These offerings provide investors with exposure to cutting-edge blockchain networks and digital assets, including staking features and innovative fund structures. Their filings underscore the maturation of crypto as an investable asset class.

Hyperliquid Strategies Inc

With a potential $1 billion equity facility, this company is positioned to be a major player in the digital asset and blockchain ecosystem, including the purchase of HYPE tokens and other crypto assets.

Other Highlights

Conclusion

October 2025’s IPO filings demonstrate a vibrant and diverse market, with strong representation from SPACs, digital assets, healthcare, and technology. The month’s activity highlights ongoing innovation in AI, blockchain, and biotech, as well as investor appetite for both traditional and emerging sectors. As these companies move toward public markets, they are poised to shape the next wave of growth and disruption across industries.

For more details on each company, click the linked names above to view their profiles on Firmographics.org.

Top IPOs

Real Trading Research Inc., Westport, CT
Real Trading Research Inc. is a Delaware corporation developing the world’s first fully distributed, on-chain fund platform utilizing blockchain technology, smart contracts, and tokenized ownership.
Offering: Tier 2 Offering, Securities Offered 18000000, Offering Amount 20000000.00

Trimark Power Corp, New York, NY
Trimark Power Corp is a renewable energy company specializing in converting woody and organic biomass into biochar using advanced pyrolysis technology.
Offering: Tier 2 Offering, Securities Offered 10000000, Offering Amount 500000.00

Mak Don Don Inc, San Francisco, CA
Mak Don Don Inc is a Wyoming-based corporation specializing in authentic, chef-driven Cantonese wok cuisine in a fast-casual format.
Offering: Tier 2 Offering, Securities Offered 3000000, Offering Amount 300000.00

Entrex Carbon Market, Inc., Boca Raton, FL
UHF Logistics Group, Inc. is engaged in acquiring private companies based in China and providing them with administrative, legal, accounting, and marketing support.
Offering: Tier 2 Offering, Securities Offered 19999999, Offering Amount 19999999.00

Wahed Real Estate Fund I LLC, New York, NY
Wahed Real Estate Fund I LLC is a Delaware limited liability company formed to originate, invest in, and manage a diversified portfolio of single-family residential real estate properties.
Offering: Tier 2 Offering, Securities Offered 7500000, Offering Amount 75000000.00

Venture Funds

Activate Capital Partners III, LP, San Francisco, CA
Offering Amount: $500M, Sold: $186.48M, Investors: 24

Bridger Holdings, LP, Palo Alto, CA
Sold: $379.82M, Investors: 28

Epsilon Healthcare Innovation Fund II, LP, Washington, DC
Offering Amount: $50M, Sold: $17.55M, Investors: 27

Lucius Partners Opportunity Fund, LP, New York, NY
Offering Amount: $20M, Sold: $5.75M, Investors: 10

Peakline Ventures, LLC - Series I, Chicago, IL
Peakline Ventures, LLC - Series I is a public company based in Chicago, Illinois, specializing in pooled investment funds.
Sold: $13M, Investors: 145