AI frontier labs continued to lead The Crunchbase Unicorn Board last month in terms of dollars spent and valuations, but it was hardware — robotics and semiconductors — that added the largest number of new billion-dollar companies in February.
A total of 27 companies joined the Unicorn Board last month, including six robotics companies and four semiconductor-related startups. Healthcare minted three new unicorns, while foundation AI, cloud services, aerospace and financial services each accounted for two companies that joined.
The U.S. once again dominated, with 19 companies joining the board. China tallied four new unicorns, the U.K. contributed two, and India and Germany each added one new unicorn.
Soaring valuations
Overall unicorn values soared in February as OpenAI raised $110 billion at a value of $840 billion, making it the most highly valued private company of all time. Its closest rival, Anthropic, raised $30 billion at a valuation of $380 billion, making it the fourth-largest valued company on the list. Waymo, the autonomous driving technology company, was valued at $126 billion, positioning it among the top 10 most highly valued private companies.
February’s new unicorns
Here are February’s newly minted unicorns.
Robotics
Bedrock Robotics, a solution for automating building equipment for autonomous construction, raised a $270 million Series B led by CapitalG and Valor Equity Partners. The 1-year-old company, based in San Francisco, was valued at $1.8 billion.
Beijing-based Spirit AI, a physical intelligence foundation model and humanoid robotics company, raised a $290 million Series A led by Chaos Investment and YF Capital. The 2-year-old company was valued at $1.5 billion.
AI² Robotics, a builder of intelligent robots for industrial and service industries, raised a $145 million Series B round. The 2-year-old Beijing-based company was valued at $1.4 billion.
Humanoid robotics company Galaxea AI raised a $145 million Series B led by Jinding Capital. The 2-year-old China-based company was valued at $1.4 billion.
Revel, a testing and control software layer for aerospace, defense, robotics and industry, raised a $150 million Series B led by Index Ventures. The 1-year-old Los Angeles-based company was valued at $1 billion.
ZaiNar, a company that transforms 5G and Wi-Fi into spatial awareness for connective devices, an underlying layer necessary for physical AI, raised a $100 million Series B from well-known investors Steve Jurvetson, Jerry Yang, Tom Gruber, Jaan Tallinn and Nicholas Pritzker. The 9-year-old Belmont, California-based company was valued at $1 billion.
Semiconductor
China-based Nio GeniTech, developer of a chip for advanced autonomous driving, raised a $330 million Series A led by IDG Capital and Nio Capital. The company, which is less than a year old and spun out of automaker Nio, was valued at $1.5 billion.
London-based Olix, a photonic chip company for more efficient AI inference, raised a $220 million Series A led by Hummingbird Ventures. The 2-year-old company, valued at $1 billion, has plans to ship its first product in 2027.
Reno, Nevada-based Positron, builder of memory chips for AI, raised a $230 million Series B led by Arena Private Wealth, Jump Trading and Unless. The 3-year-old company was valued at $1 billion.
MatX, a chip developer for AI training, raised a $500 million Series B led by Jane Street Capital and Situational Awareness. The 3-year-old company, based in Mountain View, California, was valued at $1 billion. It plans to ship its first product in 2027.
Healthcare
New York-based Garner Health, a platform that helps employers and employees source the best doctors with improved costs, raised a $118 million Series D led by Kleiner Perkins. The 7-year-old company was valued at $1.4 billion.
Palo Alto, California-based Midi Health, a women’s telehealth provider, raised a $100 million Series D led by Goodwater Capital. The 4-year-old company was valued at $1 billion.
Solace, a Redwood City, California-based digital platform that helps medicare customers connect with advocates to navigate healthcare, raised a $130 million Series C led by IVP. The 4-year-old company was valued at $1 billion.
Cloud services
Render, a cloud platform for application development teams, raised a $100 million Series C led by Georgian. The 8-year-old San Francisco-based company was valued at $1.5 billion.
Mumbai-based Neysa, a cloud service GPU provider, raised a $600 million round led by Blackstone Group. The 3-year-old company was valued at $1.4 billion.
Foundational AI
Fundamental, builder of an AI model to analyze large databases, raised a $225 million Series A led by Oak HC/FT. The company also says it has signed a partnership agreement with Amazon‘s AWS to offer the model to its customers. The 2-year-old, San Francisco-based company was valued at $1.4 billion.
Goodfire, a model developer to debug and understand AI, raised a $150 million Series B led by B Capital. The 1-year-old San Francisco-based company was valued at $1.3 billion.
Aerospace
Aalyria, a space-based communications infrastructure player to support commercial satellite and government missions, raised a $100 million Series B led by Battery Ventures and J2 Ventures. The 4-year-old Livermore, California-based company was valued at $1.3 billion.
Skyryse, an aviation hardware and software company for automated flights, raised a $300 million Series C led by Autopilot Ventures and Fidelity. The 10-year-old El Segundo, California-based company was valued at $1.2 billion.
Financial services
London-based Allica Bank, a U.K.-based digital bank for small and medium-sized businesses, raised a $155 million Series D led by GLG, Sona Asset Management and Ventura Capital. The 8-year-old company was valued at $1.2 billion.
Basis, an agentic platform for accountants, raised a $100 million Series B led by Accel, Google Ventures and Lloyd Blankfein. The 3-year-old company, based in New York, was valued at $1.2 billion.
E-commerce
Brooklyn-based Whop, a marketplace for creators to sell digital products, raised a $200 million round led by Tether Ventures. The 5-year-old company was valued at $1.6 billion.
Coding
Code Metal, a Boston-based code translation service for legacy code, raised a $125 million Series B led by Salesforce Ventures 1. The round valued the 2-year-old company at $1.3 billion.
Defense
Berlin-based Stark, a developer of strike drones and autonomous defense systems, raised an undisclosed sum in a round led by Founders Fund that valued the 1-year-old company at $1.2 billion.
Forecasting
Boston-based Tomorrow.io, an AI-native weather satellite constellation, raised a $175 million Series F led by HarbourVest Partners and Stonecourt Capital. The 9-year-old company was valued at $1 billion.
Sales & marketing
New York-based Profound, a brand marketing platform geared for AI search, raised a $96 million Series C led by Lightspeed Venture Partners that valued the 1-year-old company at $1 billion.
Web3
TRM Labs, a blockchain intelligence platform to detect crime networks, raised a $70 million Series C led by Blockchain Capital. The raise valued the 8-year-old company, based in San Francisco, at $1 billion.
Related Crunchbase unicorn lists:
The Crunchbase Private Unicorn Company List (1,703)
Exited unicorns (604)
New unicorns in 2026 (65)
New unicorns in 2025 (187)
New unicorns in 2024 (115)
New unicorns in 2023 (102)
Unicorns in the U.S. (878)
Unicorns in Asia (500)
European unicorns (228)
Unicorns from LatAm (38)
Emerging unicorn leaderboard (471)
Related reading:
Massive AI Deals Drive $189B Startup Funding Record In February While Public Software Stocks Reel
Crunchbase Data: The AI Boom Has Drastically Changed Who’s Funding The Hottest Companies In 2025 Vs. 2021
January Delivers Highest New Unicorn Count In More Than 3 Years
Methodology
The Crunchbase Unicorn Board is a curated list that includes private unicorn companies with post-money valuations of $1 billion or more and is based on Crunchbase data. New companies are added to the Unicorn Board as they reach the $1 billion valuation mark as part of a funding round.
The unicorn board does not reflect internal company valuations — such as those set via a 409a process for employee stock options — as these differ from, and are more likely to be lower than, a priced funding round. We also do not adjust valuations based on investor writedowns, which change quarterly, as different investors will not value the same company consistently within the same quarter.
Funding to unicorn companies includes all private financings to companies that are tagged as unicorns, as well as those that have since graduated to The Exited Unicorn Board.
Exits analyzed here only include the first time a company exits.
Please note that all funding values are given in U.S. dollars unless otherwise noted. Crunchbase converts foreign currencies to U.S. dollars at the prevailing spot rate from the date funding rounds, acquisitions, IPOs and other financial events are reported. Even if those events were added to Crunchbase long after the event was announced, foreign currency transactions are converted at the historic spot price.
Illustration: Dom Guzman
Salesforce Ventures is an investor in Crunchbase. They have no say in our editorial process. For more, head here.↩
