Top 5 Venture Deals of April.

The effects of the bankruptcy of major U.S. banks are still being felt, but still there were several major venture rounds in April, including another round by Open Ai.

OpenAi, $300M

Sector – Ai.
OpenAi, creator of the generative AI language processing platform ChatGPT, closed April 28 with a $300 million equity deal and a valuation of $27 billion to $29 billion.
That could mean that OpenAi is completing a months-long tender offer, which the Wall Street Journal reported earlier this year.
The stock sale brings in a number of new investors: longtime OpenAI backers Tiger Global Management, Andreessen Horowitz and Sequoia Capital, and newcomers Thrive Capital and K2 Global.

HeartFlow, $215M.

Sector: Healthcare.
The company focuses on precision heart technology and uses artificial intelligence to diagnose patient health. The Mountain View, California-based company closed a $215 million Series F round led by Bain Capital Life Sciences. Its noninvasive technology produces a 3D model to analyze heart attack risk. To date, the technology has been used by 180,000 patients in 725 hospital systems worldwide. Founded in 2010, HeartFlow has raised about $793 million.

Cybereason, $100M.

Sector: Cybersecurity.
The Boston-based startup raised $100 million in investment led by SoftBank, but along with it announced a change in CEO. SoftBank Executive Vice President Eric Gan will now serve as the company’s CEO, and Lior Deve, the current CEO and co-founder, will move into an advisory role. The news comes after reports in October that the company had hired JPMorgan Chase & Co. to find a buyer for the company. A little more than a year ago, the company confidentially filed for an initial public offering that would have valued it at more than $5 billion, Reuters reported at the time. In July 2021, the startup announced it had raised $275 million in funding led by Liberty Strategic Capital, a fund founded by former U.S. Treasury Secretary Steven Mnuchin. The company did not name its valuation, but the Israeli Globes and The Boston Globe reported at the time that the deal was valued at about $3.1 billion. Cybereason is one of the best-funded cybersecurity startups, having raised more than $800 million all along. Now the question is, what do investors get for all that money?

Covariant, $75M.

Sector: Robotics.
Covariant, based in Emeryville, California, has raised another $75 million to its Series C (previously $80 million) to do just that. Radical Ventures and Index Ventures participated in the round. Covariant Brain is a robotics platform that allows robots to interact with their environment and learn from it. The platform can be used by retailers and logistics providers for warehouse operations. Founded in 2017, Covariant has so far raised $222 million.

Honeycomb, $50M.

Sector: Developer tools.
Engineers increasingly depend on observability tools to figure out what’s going wrong as the cloud environment becomes more and more complex. That probably helped San Francisco-based Honeycomb get a $50 million Series D round this week, led by Headline. The startup has doubled its revenue and headcount over the past year as engineering teams constantly seek data on how users are using apps in real time. Founded in 2016, Honeycomb claims to have raised $150 million to date.

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We have summarized the results of the past month and hope you found the information helpful. Stay tuned for more information.