Top Financing News

The Recap

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

• Applied Digital Corp (NASDAQ:APLD) closed $53.2 million to expedite the company's expansion and support the ongoing construction of its Ellendale HPC data center.

• Serve Robotics (NASDAQ:SERV) closed $20 million more this week to expand its fleet of autonomous delivery robots

• Brand Engagement Network (NASDAQ:BNAI) raised $55.9 million through a private placement to support the growth and production of its AI technology

Applied Digital Corp. (NASDAQ: APLD) raised $53.2 million primarily to advance the construction of its high-performance computing (HPC) data center in Ellendale, North Dakota. This funding, obtained through an unsecured convertible debenture, is crucial for completing the project, which is a significant part of the company's strategy to expand its digital infrastructure offerings. The capital will ensure the timely fulfillment of contractual obligations and support the company's broader growth initiatives in the HPC and AI sectors​

Serve Robotics has raised $20 million in a private placement to support its ongoing operations and growth initiatives. The funding will help the company expand its fleet of autonomous delivery robots, particularly to fulfill its contract with Uber Eats to deploy up to 2,000 robots across multiple U.S. markets. This raise comes shortly after a previous $15 million round, indicating strong investor confidence in the company's ability to scale its delivery services in partnership with major brands like Uber Eats and 7-Eleven.

BEN or Brand Engagement Network (NASDAQ: BNAI) raised $55.9 million to fund the expansion and production of its AI-driven customer engagement technology. The funds will be used to scale the company's AI technology, which is designed to enhance customer engagement and operational efficiency across various industries, particularly targeting areas with workforce shortages and high potential for transformation through AI. This financing move positions Brand Engagement Network to accelerate growth and expand its influence, especially in the healthcare sector, as it recently bolstered its leadership team with the addition of Dr. Richard S. Isaacs, a healthcare technology expert.

Weekly Money Moves

Lead Investors

• Keppel Infrastructure Trust: $200,000,000 | Infrastructure | Lead Investor: DBS Bank

• Rama Steel Tubes: $5,361,860 | Manufacturing | Lead Investor: Ebisu Global Opportunities Fund

• Brand Engagement Network: $55,925,000 | Technology & AI | Lead Investor: Yorkville Advisors

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]