SEC Fundraising Activity ( May 1 – 31, 2025 )
| Startups | Crowdfunded | IPOs | Venture Funds |
|---|---|---|---|
| 404 | 93 | 36 | 42 |
Startup Funding
In May 2025, a total of 404 startup companies raised funds through private equity offerings, spanning a diverse array of industry verticals. The most common sectors represented include technology (with a strong emphasis on AI, software, and health tech), biotechnology, real estate (including REITs and commercial/residential projects), energy, and financial services.
Among these, several companies stand out for their innovation and the significance of the problems they address:
- Pathos AI, Inc., Antares Therapeutics, Inc., NewLimit, Inc., and Character Biosciences, Inc. are notable in the biotechnology sector, collectively raising hundreds of millions to advance cutting-edge therapies and AI-driven drug discovery, which could have transformative impacts on healthcare and longevity.
- Greenridge Phoenix Project, Water Enhancement Technologies Solutions Inc, and Sierra International Network Inc each secured $110M+ in the technology sector, suggesting large-scale ambitions in sustainability, water technology, and network infrastructure.
- Realta Fusion Inc. is working on fusion energy, a field with the potential to revolutionize global energy supply and address climate change.
- Phoenix Tailings, Inc. is innovating in sustainable materials and mining, aiming to eliminate waste from metal production—a critical step toward a circular economy.
- e2Companies LLC stands out for its massive investor base (960 investors) and focus on energy, indicating strong interest in distributed or renewable energy solutions.
- ByHeart, Inc. is making waves in health and nutrition, likely addressing infant formula innovation, a sector that has seen increased scrutiny and demand for quality.
- CAST AI Group, Inc. and Checkr Group, Inc. are pushing the boundaries in AI-driven cloud optimization and background check automation, respectively, both critical for the future of work and digital infrastructure.
- Inventwood Inc. is pioneering advanced wood materials, which could have significant environmental and industrial applications.
- Percipient.ai Inc. and Unify AI Business Corp are leveraging AI for security and business intelligence, addressing the growing need for smarter, more secure enterprise solutions.
This cohort reflects a vibrant startup ecosystem, with companies tackling some of the most pressing challenges in health, sustainability, infrastructure, and digital transformation.
Top Companies
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: $108.08M, Investors: 26
Takanock, LLC, Traverse City, MI
Takanock, LLC specializes in solving the data center industry's challenge of developing shovel-ready data center sites by leveraging extensive experience in site selection, power generation, energy markets, and infrastructure.
Sold: $435M, Investors: 5
Pathos AI, Inc., Chicago, IL
Pathos AI, Inc. is a clinical-stage biotechnology company based in Chicago, Illinois, focused on re-engineering drug development through advanced artificial intelligence technologies.
Offering Amount: $400M, Sold: $283M, Investors: 11
Antares Therapeutics, Inc., Boston, MA
Antares Therapeutics, Inc. is a specialty pharmaceutical company based in Boston, MA, focused on the development and commercialization of pharmaceutical products and drug delivery technologies that address patient needs.
Offering Amount: $136.65M, Sold: $30M, Investors: 35
NewLimit, Inc., South San Francisco, CA
NewLimit is extending human healthspan by unlocking regenerative potential. The organization is composed of experts across various fields including cell biology, genomics, and machine learning.
Offering Amount: $130M, Sold: $129.8M, Investors: 38
Crowdfunding Offerings
In May 2025, a total of 93 companies filed crowdfunding offerings, spanning a diverse range of business verticals including real estate, food and beverage, technology, renewable energy, healthcare, consumer products, and entertainment. Notably, the list features several real estate investment vehicles, specialty food producers, tech startups, and creative ventures.
Among these, a few companies stand out for their innovation and potential impact. Drop Water Corp is notable for its focus on sustainable water solutions, which is increasingly critical in the face of global water scarcity. SMART Tire Company, Inc. is pushing the boundaries in advanced tire technology, potentially revolutionizing transportation with more durable and sustainable products. Geoship SPC is working on innovative housing solutions, which could address affordability and sustainability in construction. Infinity Fuel Cell & Hydrogen, Inc. and Blue Green Energy, Inc. are both advancing clean energy technologies, crucial for the transition to a low-carbon future. In healthcare, HMDmd Inc. and Breath Diagnostics Inc. are developing medical technologies that could improve diagnostics and patient outcomes. Additionally, Web3aistore Inc. and VATOM Corp are exploring the frontiers of Web3 and digital asset management, reflecting the ongoing evolution of the digital economy.
These companies exemplify the spirit of innovation and the drive to solve pressing societal challenges, making them particularly noteworthy among this month’s crowdfunding cohort.
Top Companies
TB Fund4 LLC, Suite 300, FL
TradeBacked Inc is a private credit firm incorporated in 2021 that provides insured, collateralized inventory financing to U.S.-based small and medium-sized enterprises (SMEs).
Offering Amount: $1M
Series I, LLC A Series of Real Estate Reserve LLC, Fort Collins, CO
The Company is engaged in the acquisition, development, improvement, and resale of real estate properties.
Offering Amount: $500,000
MRH CF, LLC, Lexington, KY
MRH CF, LLC is a Delaware series limited liability company formed in 2023 that acquires collections of racehorses for ownership through individual series.
Offering Amount: $490,000
Mr. Hand Pay 2nd Channel Drop, LLC, Sheridan, WY
Mr Hand Pay LLC is a Wyoming limited liability company formed in 2025 that operates the Mr.
Offering Amount: $345,000
Jasper APP Inc, East Hampton, NY
Jasper is a dedicated app and community designed to support individuals grieving the loss of a beloved pet.
Offering Amount: $250,000
IPOs
IPO Landscape – May 2025
May 2025 saw a dynamic and diverse IPO landscape, with 36 companies filing to go public across a range of sectors and geographies. The month featured a mix of traditional operating companies, SPACs, and a notable surge in digital asset and ETF offerings. Standouts include Promicell, Inc. and Chelsea Tech, Inc., both seeking substantial capital raises, while Galaxy Digital Inc. registered a massive resale of over 245 million shares. The ETF space was particularly active, with filings like Canary Staked CRO ETF, Bitwise NEAR ETF, VanEck BNB ETF, and 21Shares Sui ETF reflecting growing investor appetite for crypto-linked products. The SPAC trend continued with entries such as FG Merger III Corp., Quantumsphere Acquisition Corp, and Lake Superior Acquisition Corp, each targeting sizable raises for future business combinations. Other notable IPOs include Slide Insurance Holdings, Inc., Caris Life Sciences, Inc., Elite Express Holding Inc., and SharpLink Gaming, Inc.. The filings highlight a robust pipeline, with companies from fintech, biotech, insurance, gaming, and digital assets all seeking to tap public markets, signaling continued investor interest and innovation across the capital markets.
Top IPOs
Promicell, Inc., Miami, FL
Promicell, Inc. is an early-stage biotechnology holdings company incorporated in Delaware and operating primarily in the United States.
Offering: Tier 2 Offering, Securities Offered 15000000, Offering Amount 75000000.00
Chelsea Tech, Inc., Hong Kong, undefined, China
Chelsea Tech, Inc. is a new-generation technology company focusing on the promotion of the Metaverse and art NFTs.
Offering: Tier 2 Offering, Securities Offered 40000000, Offering Amount 20000000.00
Angel Studios 022, Inc., Provo, UT
Angel Studios 022, Inc. is a Delaware corporation formed as a wholly owned subsidiary of its Parent Company for the sole purpose of licensing and exploiting rights related to the upcoming film "The Last Rodeo.
Offering: Tier 2 Offering, Securities Offered 5000000, Offering Amount 5000000.00
FG Merger III Corp., Itasca, IL
FG Merger III Corp. is a newly organized blank check company formed as a Nevada corporation with the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.
Offering: FG Merger III Corp. is conducting an initial public offering of units at $10.00 each. Each unit consists of one share of common stock and one-half of one redeemable warrant. The warrants allow the purchase of common stock at $11.50 per share and become exercisable 30 days after the initial business combination or 12 months after the offering, expiring five years after the business combination. The underwriters have a 45-day option to purchase up to 2,250,000 additional units for over-allotments. The company intends to use the proceeds to complete an initial business combination, primarily targeting the financial services industry in North America. The offering includes a private placement of units and warrants to the sponsor. Public stockholders have redemption rights upon the initial business combination. The company plans to list the units on Nasdaq and expects separate trading of common stock and warrants approximately 52 days after the prospectus date.
Canary Staked CRO ETF, Nashville, TN
Canary Staked CRO ETF is an exchange-traded fund that issues shares to provide investors exposure to the price of Cronos (CRO) cryptocurrency held by the Trust.
Offering: The Canary Staked CRO ETF is an exchange-traded product that issues shares representing beneficial interests in the Trust, which seeks to provide exposure to the price of Cronos (CRO) held by the Trust, less expenses and liabilities. The Trust also aims to earn additional CRO through transaction validation on the Cronos POS Chain. Shares trade on an exchange under a ticker symbol to be determined. The offering is continuous and registered with the SEC under the Securities Act of 1933. The Trust is not registered under the Investment Company Act of 1940 and does not provide the regulatory protections of registered funds. The offering involves significant risks and is speculative in nature.
Venture Funds
Frist Cressey Ventures Fund IV, LP, Nashville, TN
Frist Cressey Ventures Fund IV, LP is a venture capital firm based in Nashville, Tennessee, focused on accelerating the growth of companies in the healthcare sector.
Offering Amount: $400M, Sold: $2.03M, Investors: 6
Frist Cressey Ventures Fund IV QP, LP, Nashville, TN
Offering Amount: $400M, Sold: $169.69M, Investors: 115
Geodesic Alliance Fund, L.P., Foster City, CA
Offering Amount: $400M, Sold: $250M, Investors: 7
BOLD Longevity Growth Fund LP, Boston, MA
Offering Amount: $200M, Sold: $57.67M, Investors: 30
Teamworthy Ventures IV LP, Greenwich, CT
Offering Amount: $100M, Sold: $50.65M, Investors: 16