Top Financing News

The Recap

The best information on capital raises and financing activity in under 5 minutes:

• Serve Robotics Inc. (NASDAQ: SERV) announces $80 million raise through a direct offering to scale its robotics fleet across multiple U.S. cities by the end of 2025.

• Quantum Computing Inc. (NADAQ: QUBT) announces private placement expecting $100 million to enhance the company’s financial position, supporting their growth plan and investment in thin-film lithium niobate photonic chips and quantum computing markets.

• Arizona Sonoran Copper Company (TSX:ASCU) announces CAD $19.9 million strategic private placement with Hudbay Minerals to be used for drilling, exploration, technical studies and advancement of the Cactus copper project in Arizona.

Nvidia and Uber-backed Serve Robotics has raised $80 million through a direct offering of 4.2 million shares of common stock, with funding coming from unnamed institutional investors. This follows $86 million in gross proceeds raised in December 2024 through a combination of an at-the-market facility and warrant exercises, bringing the startup’s total fundraising to over $247 million in the past 12 months. The fresh capital will extend Serve’s runway through 2026 and enable it to scale its fleet from 100 robots currently operating in Los Angeles to 2,000 robots across multiple U.S. cities by the end of 2025. At the moment, Serve Robotics has about 100 robots doing deliveries in Los Angeles for around 300 restaurants via Uber Eats and 7-Eleven.

Quantum Computing Inc. is a leading technology company focused on advancing quantum computing solutions and software. Operating within the technology and computing sectors, the company specializes in developing algorithms, software, and applications that leverage the unique capabilities of quantum mechanics to solve complex computational problems. QUBT aims to transform industries such as cryptography, material science, and artificial intelligence by harnessing the power of quantum computing. This private placement of 8,163,266 shares of common stock at $12.25 per share is aiming to generate $100 million in gross proceeds. The Company reports that the capital will strengthen its financial position, fueling its growth strategy and advancing investments in thin-film lithium niobate photonic chips and the quantum computing sector.

Arizona Sonoran Copper Company has announced a CAD $19.9 million strategic private placement with Hudbay Minerals to be used for drilling, exploration, technical studies and advancement of the Cactus copper project in Arizona. Arizona Sonoran is a copper exploration and development company with a 100% interest in the brownfield Cactus Project. The Project, on privately held land, contains a large-scale porphyry copper resource and a recent 2024 PEA proposes a generational open pit copper mine with robust economic returns. Cactus is a lower risk copper developer benefitting from a State-led permitting process, in place infrastructure, highways and rail lines at its doorstep and onsite permitted water access. The Company objective is to develop Cactus and become a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders.

Weekly Money Moves

Lead Investors

• Absci: $20,000,000 | Biotech | Lead Investor: AMD

• Senti Biosciences: $10,000,000 | Biotech | Lead Investor: Celadon Partners

• RadioPharm Theranostics: $5,000,000 | Biotech | Lead Investor: Lantheus Holdings

• Ares Management: $2,300,000,000 | Financial Services | Lead Investor: Aspida

• Outset Medical: $168,800,000 | Health Care | Lead Investor: PFM Health Sciences

• Arizona Sonoran Copper Company: $13,856,612 | Mining | Lead Investor: Hudbay

Do you know of any other lead investors who put capital into the markets this week? We would be happy to feature the transactions, send us an email at [email protected]