SAN CARLOS, Calif., Jan. 9, 2026 — Ventaris Surgical, Inc., a San Carlos, CA-based medical device company developing a next-generation system for kidney stone treatment, announced today the completion of a $30 million Series A financing.

The financing was led by Longitude Capital, with additional participation from new investor Vensana Capital and existing investors Atypical Ventures, Neotribe Ventures, and Boutique Venture Partners. As part of this financing, Varun Gupta of Longitude Capital and Justin Klein of Vensana Capital will join the Ventaris Board of Directors, alongside independent board member Amir Abolfathi.

Ventaris Surgical is developing a ureteroscopic system designed to help surgeons achieve more complete stone clearance during kidney stone procedures. Kidney stone surgery is among the most common urologic interventions, yet procedural success is influenced by a complex set of variables including anatomy, stone burden, workflow constraints, and surgeon fatigue. This makes consistent, complete stone clearance difficult to achieve with today’s tools.

“Ventaris’ technology has the potential to both improve outcomes and reduce the burden on surgeons. Their approach resolves several critical unmet needs in today’s standard of care,” said Maxwell Bikoff, Managing Director at Longitude Capital.

“Kidney stone surgery demands an exceptional level of skill, focus, and persistence,” said Surag Mantri, CEO of Ventaris Surgical. “Surgeons are often willing to invest the time and effort required to pursue complete stone clearance, but today’s tools can make that goal difficult to achieve consistently. Ventaris was founded with the goal of removing unnecessary friction from the procedure, so that surgeons can focus their time and effort on reliably achieving complete stone clearance. We are excited to embark on this next phase of growth with Longitude Capital and Vensana Capital.”

Proceeds from this financing will be used to support continued clinical development and advancement of regulatory and commercial milestones.

About Ventaris Surgical

Ventaris Surgical, Inc. is a privately held medical device company developing a novel ureteroscopic system to help surgeons achieve more complete stone clearance in kidney stone procedures. The company is headquartered in San Carlos, CA. http://www.ventarissurgical.com

About Longitude Capital

Longitude Capital is a private investment firm that makes venture growth investments in biotechnology and technology-enabled healthcare companies. The firm has raised over $2.4 billion in capital to-date to help achieve regulatory approvals, scale innovative businesses, and build durable market leaders. Longitude Capital partners closely with management teams, with recent medical technology investments including Axonics, Bolt Medical, Ceribell, Eargo, Endogenex, FIRE1, Kestra Medical Technologies, LimFlow, MicroTransponder, Nalu, Polares Medical, Procept BioRobotics, RxSight, and Twelve.
http://www.longitudecapital.com

About Vensana Capital

Vensana Capital is a venture capital and growth equity investment firm dedicated to partnering with entrepreneurs who seek to transform healthcare with breakthrough innovations in medical technology. Founded in 2019, Vensana has approximately $1 billion in capital under management and is actively investing in development and commercial-stage companies across the medtech sector, including medical devices, data science-oriented solutions, life science tools & diagnostics, and tech-enabled services. Vensana’s investment team has a history of successfully partnering with entrepreneurs behind industry-leading companies, including Artelon, Cameron Health, CardiAQ, Cartiva, CV Ingenuity, CVRx, Epix Therapeutics, Inari Medical, Intact Vascular, Lutonix, Neuwave Medical, Personal Genome Diagnostics, Relievant Medsystems, Sequent Medical, Topera, Ulthera, Veran Medical Technologies, Vertiflex, and Vesper Medical. http://www.vensanacap.com

General Inquiries:
info@ventaris

SOURCE Ventaris Surgical, Inc.

LOS ANGELES, Jan. 9, 2026 — Hadrian, which is building the next generation of American factories to support national reindustrialization, today announced expanded capital led by accounts advised by T. Rowe Price Associates, Inc., with participation from Altimeter Capital, D1 Capital Partners, StepStone Group, 1789 Capital, Founders Fund, Lux Capital, a16z, Construct Capital, and existing investors, to accelerate factory expansion and advance the company’s manufacturing roadmap. This financing values the company at $1.6 billion.

Demand for domestic manufacturing capacity across aerospace, defense, and critical infrastructure continues to accelerate. This expanded capital positions Hadrian to move faster in scaling high-throughput American factories, expanding its workforce, and accelerating deployment of the AI, software, and automation systems that power its operations.

Hadrian is building a new generation of advanced manufacturing facilities designed to produce mission-critical components, assemblies and full product lines as part of its Factories as a Service (FaaS) with speed, reliability, and scale. The company’s factory platform pairs advanced automation with a rapidly trained workforce to meet the urgency and magnitude of a generational reindustrialization effort.

“For decades, the United States separated design from production and assumed global supply chains would carry the load,” said Chris Power, Founder and CEO of Hadrian. “That assumption no longer holds. This capital accelerates our ability to build the industrial capacity America needs by pairing advanced automation with workforce training designed for the scale of the opportunity in front of us.”

The capital will be used to accelerate factory expansion, scale workforce training programs, and continue investment in automation, AI-driven tooling, and real-time manufacturing intelligence as Hadrian moves to meet growing demand.

About Hadrian

Hadrian builds the next generation of American factories. By combining AI-powered automation, modern software, and a rapidly trained workforce, Hadrian delivers critical manufacturing capacity for aerospace, defense, and emerging industrial programs.

Media Contact
Name: Mackenzie Bohannon
Email: [email protected] 
Tel: +1(424) 492-3966

SOURCE Hadrian

• Rain recauda 250 millones de dólares en una ronda de financiación Serie C para ampliar la infraestructura de pagos basada en stablecoins para empresas globales

Liderada por ICONIQ, la ronda eleva la financiación total de Rain a más de 338 millones de dólares y valora la empresa en 1.950 millones de dólares, un aumento de más de 17 veces en solo 10 meses.

La nueva financiación permite a Rain ampliar su presencia global y compatible, profundizar las capacidades de la plataforma e invertir en nuevos productos que redefinen el funcionamiento de los pagos en todo el mundo.

NUEVA YORK, 9 de enero de 2026 —  Rain, la infraestructura empresarial para pagos con stablecoins, anunció hoy una ronda de financiación Serie C de 250 millones de dólares liderada por ICONIQ, con la participación de Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest y Endeavor Catalyst. La ronda valora a Rain en 1.950 millones de dólares, lo que eleva la financiación total de la compañía a más de 338 millones de dólares y se produce tan solo cuatro meses después de su Serie B y 10 meses después de su Serie A.

Las stablecoins han evolucionado rápidamente desde un sector especulativo de los mercados de criptomonedas hasta convertirse en una de las vías de transferencia de valor más importantes del mundo. La siguiente fase de adopción consiste en convertir el dinero tokenizado en la forma predeterminada en que las empresas transfieren fondos y los consumidores reciben pagos, ahorran y gastan. Superar esta barrera requiere una infraestructura que permita a las empresas migrar a las vías de pago en cadena, preservando al mismo tiempo las experiencias familiares en las que sus usuarios ya confían. La tecnología de Rain está diseñada para lograr precisamente eso.

“Las stablecoins se están convirtiendo rápidamente en la forma de transferir dinero en el siglo XXI, pero su adopción por parte de usuarios de todo el mundo requiere tarjetas y aplicaciones que simplemente funcionen”, afirmó Farooq Malik, consejero delegado y cofundador de Rain. “En el último año, nuestra base de tarjetas activas se ha multiplicado por 30 y nuestro volumen de pagos anualizado por 38, pero aún estamos en las primeras etapas. Esta financiación nos permite llevar esa infraestructura a nuevos mercados y ayudar a otras empresas a implementarla y escalar rápidamente en todas partes”.

La plataforma de pagos integral de Rain permite a las empresas colaborar con un único socio para lanzar tarjetas de stablecoins compatibles que funcionan en todos los lugares donde se acepta Visa, ofrecen recompensas, convierten moneda fiduciaria en stablecoins, impulsan billeteras seguras y facilitan los pagos. Actualmente, la tecnología de Rain facilita más de 3.000 millones de dólares en transacciones anuales para más de 200 socios, entre ellos Western Union, Nuvei y KAST. Los programas desarrollados con Rain pueden llegar a más de 2.500 millones de personas e impulsar todo tipo de operaciones, desde compras cotidianas como un café por la mañana o billetes de avión, hasta gastos empresariales cruciales como servicios en la nube y publicidad digital.

“Creemos que estamos presenciando una transición de las redes de pago tradicionales a una infraestructura programable de activos digitales, y existe un breve margen de maniobra para definir la plataforma predeterminada en la que confiarán las empresas”, afirmó Kamran Zaki, socio de ICONIQ. “En nuestra opinión, Rain ofrece una combinación excepcional de tecnología integral, preparación regulatoria y escalabilidad real. Su enfoque en generalizar el dinero tokenizado, en lugar de un experimento financiero de nicho, podría encontrar eco y alinearse con lo que buscan las grandes empresas al pasar de la exploración a la producción”.

Rain utilizará el capital de la Serie C para expandir su presencia en mercados clave con licencia en Norteamérica, Sudamérica, Europa, Asia y África, para que sus socios puedan lanzar sin problemas soluciones compatibles en todo el mundo. La financiación también permitirá a Rain profundizar su plataforma integral de pagos con stablecoins, incluso mediante adquisiciones estratégicas, e invertir a la vanguardia en nuevos productos que hagan que los pagos con stablecoins sean invisibles para empresas y consumidores.

Wachtell, Lipton, Rosen & Katz actuó como asesor legal para Rain en su financiación de serie C.  

Acerca de Rain: Rain es la plataforma global de pagos con stablecoins para empresas, neobancos, plataformas y desarrolladores. Su tecnología permite a los socios transferir, almacenar y usar stablecoins de forma instantánea y conforme a las normativas a través de tarjetas de pago globales, recompensas, plataformas de acceso y salida, monederos y vías transfronterizas. Como Miembro Principal de Visa, Rain emite tarjetas compatibles con cualquier plataforma donde se acepte Visa, lo que permite millones de compras en más de 150 países. Desarrollada nativamente para stablecoins y con la confianza de más de 200 organizaciones en todo el mundo, Rain ofrece una infraestructura segura y escalable que facilita la transferencia de dinero de forma libre e instantánea en todo el mundo. Más información en https://www.rain.xyz/.

Acerca de ICONIQ: ICONIQ es una firma de inversión global que cataliza oportunidades a través de una comunidad extraordinaria. Nuestra plataforma de inversión de riesgo y crecimiento colabora con visionarios que definen el futuro de sus industrias para lograr resultados excepcionales. Aprovechando el conocimiento y la conectividad de nuestra extraordinaria comunidad, apoyamos el éxito de las empresas de nuestra cartera en cada etapa, desde su inicio hasta su salida a bolsa y más allá. Nuestra sólida cartera incluye Adyen, Airbnb, Alibaba, Alteryx, Airtable, Anthropic, Automattic, BambooHR, Braze, Canva, Chime, Coupa, Databricks, Datadog, DeepL, ElevenLabs, Figma, Gitlab, Glean, Groww, Netskope, Procore, ServiceTitan, Sierra, Snowflake, Writer, Zoom y 1Password, entre otras. Para más información, visite https://www.iconiqcapital.com/growth.

Contacto de medios:
Lucas Piazza
Director de Marketing, Rain
[email protected]  

Logo – https://mma.prnewswire.com/media/2697289/Rain_Logo.jpg

Mené par ICONIQ, ce tour de table porte le financement total de Rain à plus de 338 millions de dollars et valorise l’entreprise à 1,95 milliard de dollars, soit une multiplication par plus de 17 en seulement 10 mois

Le nouveau financement permet à Rain d’étendre sa présence mondiale et conforme, d’approfondir les capacités de sa plateforme et d’investir dans de nouveaux produits qui redéfinissent la manière dont les paiements fonctionnent dans le monde entier

NEW YORK, 9 janvier 2026 — Rain, fournisseur d’infrastructure professionnelle pour les paiements alimentés par les stablecoins, a annoncé aujourd’hui un tour de financement de série C de 250 millions de dollars mené par ICONIQ, avec la participation de Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest et Endeavor Catalyst. Cette opération valorise Rain à 1,95 milliard de dollars, ce qui porte le financement total de la société à plus de 338 millions de dollars, et intervient quatre mois seulement après la série B et dix mois après la série A.

Les stablecoins sont rapidement passés d’un segment spéculatif des marchés des cryptomonnaies à l’un des plus importants mécanismes de transfert de valeur au monde. La prochaine phase d’adoption consistera à faire de l’argent tokenisé le moyen par défaut pour les entreprises de transférer des fonds et pour les consommateurs d’être payés, d’épargner et de dépenser. Passer ce cap exige une infrastructure qui permette aux entreprises d’adopter des mécanismes de paiement sur la chaîne tout en préservant les expériences familières auxquelles leurs utilisateurs font déjà confiance. C’est exactement ce que permet la technologie de Rain.

« Les stablecoins deviennent rapidement la façon dont l’argent circule au 21ème siècle, mais leur adoption par les utilisateurs du monde entier nécessite des cartes et des applications qui fonctionnent », a déclaré Farooq Malik, PDG et cofondateur de Rain. « L’année dernière, notre base de cartes actives a été multipliée par 30 et notre volume de paiement annualisé par 38, et ce n’est qu’un début. Ce financement nous permet d’apporter cette infrastructure à de nouveaux marchés et d’aider d’autres entreprises à se lancer et à évoluer rapidement partout. »

La plateforme de paiement de bout en bout de Rain permet aux entreprises de travailler avec un partenaire unique pour lancer des cartes adossées à des stablecoins conformes aux normes qui fonctionnent partout où Visa est acceptée, offrent des récompenses, convertissent les monnaies fiduciaires en stablecoins, alimentent des portefeuilles sécurisés et facilitent les paiements. Aujourd’hui, la technologie de Rain facilite plus de 3 milliards de dollars de transactions annuelles pour plus de 200 partenaires, dont Western Union, Nuvei et KAST. Les programmes fondés sur Rain peuvent toucher plus de 2,5 milliards de personnes et permettent d’effectuer des achats quotidiens, comme le café du matin, des billets d’avion ou des dépenses essentielles de l’entreprise comme les services infonuagiques et la publicité numérique.

« Nous pensons que nous assistons à une transition des réseaux de paiement traditionnels vers une infrastructure programmable d’actifs numériques, et nous disposons d’une brève fenêtre pour aider à définir la plateforme par défaut sur laquelle les entreprises s’appuieront », a déclaré Kamran Zaki, associé chez ICONIQ. « Selon nous, Rain réunit une combinaison rare de technologie intégrée de bout en bout, de maturité réglementaire et d’envergure opérationnelle réelle. Sa volonté de faire de la monnaie tokenisée une solution grand public, plutôt qu’une simple expérimentation financière de niche, pourrait trouver un écho favorable et correspondre aux attentes des grandes entreprises à mesure qu’elles passent de la phase d’exploration à celle de la mise en production. »

Rain utilisera le capital de série C pour étendre sa présence sur les principaux marchés sous licence en Amérique du Nord, en Amérique du Sud, en Europe, en Asie et en Afrique, afin que ses partenaires puissent lancer des solutions conformes en toute transparence dans le monde entier. Le financement permettra également à Rain d’approfondir sa plateforme complète de paiements en stablecoins, notamment par le biais d’acquisitions stratégiques, et d’investir en amont dans de nouveaux produits qui rendent les paiements en stablecoins invisibles pour les entreprises et les consommateurs.

Wachtell, Lipton, Rosen & Katz a été le conseiller juridique de Rain pour son financement de série C.

À propos de Rain : Rain est la plateforme mondiale de paiements en stablecoins pour les entreprises, les néobanques, les plateformes et les développeurs. Sa technologie permet aux partenaires de transférer, stocker et utiliser des stablecoins instantanément et en toute conformité par le biais de cartes de paiement mondiales, de récompenses, de points d’interconnexion, de portefeuilles numériques et d’infrastructures de paiement transfrontalières. En tant que membre principal de Visa, Rain émet des cartes qui fonctionnent partout où Visa est acceptée, permettant des millions d’achats dans plus de 150 pays. Conçue nativement pour les stablecoins et bénéficiant de la confiance de plus de 200 organisations dans le monde, Rain fournit une infrastructure sécurisée et évolutive qui permet à l’argent de circuler librement et instantanément dans le monde entier. Pour en savoir plus, consultez le site https://www.rain.xyz/.

À propos d’ICONIQ : ICONIQ est une société d’investissement mondiale qui catalyse les opportunités grâce à une communauté extraordinaire. Notre plateforme d’investissement en capital-risque et en capital-développement s’associe à des visionnaires qui définissent l’avenir de leur secteur d’activité afin d’obtenir des résultats hors du commun. En nous appuyant sur les connaissances et le réseau de notre extraordinaire communauté, nous soutenons la réussite des entreprises de notre portefeuille à chaque point d’inflexion, de la création à l’introduction en bourse et au-delà. Notre solide portefeuille inclut entre autres Adyen, Airbnb, Alibaba, Alteryx, Airtable, Anthropic, Automattic, BambooHR, Braze, Canva, Chime, Coupa, Databricks, Datadog, DeepL, ElevenLabs, Figma, Gitlab, Glean, Groww, Netskope, Procore, ServiceTitan, Sierra, Snowflake, Writer, Zoom et 1Password. Pour plus d’informations, consultez le site https://www.iconiqcapital.com/growth.

Relations avec les médias :
Lucas Piazza
Responsable marketing chez Rain
[email protected] 

Logo – https://mma.prnewswire.com/media/2697289/Rain_Logo.jpg

Investment spurs creation of Brado AI, a dedicated technology entity focused on extending provider reach through conversational AI

ST. LOUIS, Jan. 9, 2026 — Brado, a healthcare engagement and technology company, today announced a strategic investment partnership with Santé Ventures, a leading healthcare and life sciences venture capital firm. The partnership will accelerate the growth and impact of Brado’s Conversational Engagement Platform (CEP), an AI-powered solution designed to extend the reach of providers and transform how patients navigate and engage with care.

As part of the investment, Brado has established Brado AI, a new, dedicated legal entity focused on advancing the company’s technology portfolio. This structural evolution enables direct capital investment into Brado’s rapidly growing technology solutions while maintaining Brado’s established market research and digital marketing operations within the original organization.

“This is more than a financial partnership – it’s a launchpad,” said Andy Parham, CEO of Brado and Brado AI. “By creating Brado AI and partnering with Santé Ventures, we can accelerate innovation, scale faster, and extend the trusted reach of providers across every stage of the patient journey. This investment allows us to accelerate and expand our roadmap, advancing mid-acuity triage and precision routing – capabilities that are critical to extending provider capacity and guiding patients to the right care at the right moment.”

Extending the Reach of Trusted Providers
Built on Brado’s nearly 30-year foundation of healthcare journey research, the CEP helps patients find clarity and connection in an increasingly fragmented healthcare landscape. Through natural, empathetic conversation, the platform answers questions, explains options, and guides patients to the right next step in care.

Each CEP implementation is custom configured to reflect a health system’s brand, services, safety protocols, and clinical standards of care, supported by rigorous content governance and privacy controls. Conversations are clinically aligned, brand-authentic, and designed to strengthen the patient–provider relationship.

Proven in Market, Ready to Scale
The platform’s first implementation – Catherine by Mercy Health (Bon Secours Mercy Health) – launched in 2023 to support dementia caregivers. Since then, Brado’s CEP has expanded to three additional regional health systems, helping thousands of patients navigate and engage with care more confidently and efficiently.

Powered by Santé Ventures
Headquartered in Austin, Texas, Santé Ventures manages more than $1 billion in capital and invests in early-stage healthcare technologies that redefine clinical care and delivery models.

“Brado’s Conversational Engagement Platform represents a new category of applied AI in healthcare,” said Doug French, Founding Managing Director at Santé Ventures. “It extends provider capacity, improves access, and helps patients take the next step with confidence – exactly the kind of innovation Santé exists to accelerate.”
Santé’s investment will fuel Brado AI’s product roadmap and expansion into additional service lines, including cardiology, oncology, maternal health, bariatrics, and behavioral health, while enabling the platform to evolve into a comprehensive enterprise navigation solution for health systems nationwide.

Driving Targeted Growth, Retention, and Efficiency
Health systems leveraging Brado’s CEP are achieving measurable improvements across growth, engagement, and operational efficiency by:

• Acquiring consumers earlier in their journey through proactive, guided engagement
• Guiding and preparing patients for more effective and efficient clinical encounters
• Optimizing capacity by automating outreach and reducing administrative burden

About Brado AI
Brado AI is a healthcare technology company focused on the development and deployment of applied artificial intelligence solutions for healthcare organizations. Its core offering, the Conversational Engagement Platform (CEP), helps providers engage, guide, and support patients across care journeys through trusted, AI-driven interactions. Brado AI partners with healthcare organizations to extend access, improve navigation, and strengthen connection to care. Learn more at www.brado.ai.

About Santé Ventures
Founded in 2006, Santé Ventures is a specialized healthcare and life sciences investment firm with roughly $1 billion in capital under management. The firm invests in early-stage companies developing innovative new medical technologies, biotechnologies, and digitally enabled healthcare services. Recent Santé successes include Laminar (Johnson & Johnson), Farapulse (Boston Scientific), Healthcare Highways – CerpassRx (Nomi Health), Claret Medical (Boston Scientific), TVA Medical (Becton Dickinson), Millipede Medical (Boston Scientific), Molecular Templates (MTEM), AbVitro (Bristol Myers Squibb), and Explorys (IBM Corp). Santé invests nationally and has offices in Austin, TX and Boston, MA. For more information, please visit www.sante.com.

Media Contact:
Kim Bowers, Chief Operating Officer, Brado AI
[email protected]
314.621.9499

Santé Ventures Press and Community Relations
[email protected]
512.721.1200

SOURCE Brado

Led by ICONIQ, the round brings Rain’s total funding to over $338M and values the company at $1.95B — up more than 17x in just 10 months

The new funding enables Rain to scale its global, compliant footprint, deepen platform capabilities, and invest in new products that redefine how payments work worldwide

NEW YORK, Jan. 9, 2026 — Rain, the enterprise-grade infrastructure for stablecoin-powered payments, today announced a $250 million Series C funding round led by ICONIQ, with participation from Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest, and Endeavor Catalyst. The round values Rain at $1.95 billion, brings the company’s total funding to over $338 million, and comes just four months after its Series B and 10 months after its Series A.

Stablecoins have rapidly evolved from a speculative corner of crypto markets into one of the largest value-transfer rails in the world. The next phase of adoption is about making tokenized money the default way that businesses move funds and consumers get paid, save, and spend. Crossing that chasm requires infrastructure that lets enterprises shift to onchain payment rails while preserving the familiar experiences their users already trust. Rain’s technology is built to do exactly that.

“Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users worldwide requires cards and apps that just work,” said Farooq Malik, CEO & Co-founder of Rain. “In the last year, our active card base has increased 30x and our annualized payment volume has increased 38x, but we’re still in the early innings. This funding lets us bring that infrastructure to new markets and help additional enterprises go live and scale quickly everywhere.”

Rain’s end-to-end payments platform allows companies to work with a single partner to launch compliant stablecoin cards that work everywhere Visa is accepted, offer rewards, convert fiat into stablecoins, power secure wallets, and facilitate payouts. Today, Rain’s technology facilitates more than $3B in annualized transactions for over 200 partners, including Western Union, Nuvei, and KAST. Programs built on Rain can reach over 2.5 billion people and power everything from everyday consumer purchases like a morning coffee or airline tickets, to critical business expenses such as cloud services and digital advertising.

“We believe we’re witnessing a shift from legacy payment networks to programmable digital-asset infrastructure, and there is a brief window to help define the default platform enterprises will rely on,” said Kamran Zaki, Partner at ICONIQ. “In our view, Rain has a rare combination of full-stack technology, regulatory readiness, and real-world scale. Their focus on making tokenized money mainstream, rather than a niche financial experiment, may resonate and align with what large enterprises are looking for as they move from exploration to production.”

Rain will use the Series C capital to expand its presence in key licensed markets across North America, South America, Europe, Asia, and Africa, so partners can seamlessly launch compliant solutions around the world. The funding will also enable Rain to deepen its full-stack stablecoin payments platform, including through strategic acquisitions, and to invest ahead of the curve in new products that make stablecoin-powered payments feel invisible to businesses and consumers.

Wachtell, Lipton, Rosen & Katz served as legal advisor to Rain on its Series C financing.

About Rain: Rain is the global stablecoin payments platform for enterprises, neobanks, platforms, and developers. Its technology allows partners to move, store, and use stablecoins instantly and compliantly through global payment cards, rewards, on/offramps, wallets, and cross-border rails. As a Visa Principal Member, Rain issues cards that work anywhere Visa is accepted, powering millions of purchases in over 150 countries. Built natively for stablecoins and trusted by more than 200 organizations worldwide, Rain delivers secure, scalable infrastructure that makes money move freely and instantly around the world. Learn more at https://www.rain.xyz/.

About ICONIQ: ICONIQ is a global investment firm catalyzing opportunity through extraordinary community. Our venture and growth investment platform partners with visionaries defining the future of their industries to achieve uncommon outcomes. Drawing on the insights and connectivity of our extraordinary community, we support our portfolio companies’ success at every inflection point, from inception to IPO and beyond. Our robust portfolio includes Adyen, Airbnb, Alibaba, Alteryx, Airtable, Anthropic, Automattic, BambooHR, Braze, Canva, Chime, Coupa, Databricks, Datadog, DeepL, ElevenLabs, Figma, Gitlab, Glean, Groww, Netskope, Procore, ServiceTitan, Sierra, Snowflake, Writer, Zoom and 1Password, among others. For more information visit https://www.iconiqcapital.com/growth.

Media Contact:
Lucas Piazza
Marketing Lead, Rain
[email protected] 

SOURCE Rain

The round was led by Friends & Family Capital, the venture capital firm co-founded by former Palantir CFO Colin Anderson and veteran investor John Fogelsong. Anderson and Fogelsong’s extensive finance experience and proven excellence as capital allocators positions them to accelerate Valinor’s expansion as the unique economic model for the defense market.

The Series A also saw continued participation from existing investors—General Catalyst, Founders Fund, and Red Cell Partners—deepening their commitment to the company and its business model. Additional new investors include Narya, XYZ Venture Capital, and Fifth Down Capital.

Founded in 2024, Valinor aims to solve critical, unaddressed problems across government. By centralizing infrastructure and go-to-market while decentralizing engineering, Valinor is able to deploy right-sized solutions fast, moving from demand signal to product development to mission-impact with unparalleled speed.

“It’s no longer enough to focus only on building the best, most innovative products. We need bold reinvention and diversity in the business models that deliver products to our warfighters and civil servants,” said Julie Bush, Co-Founder and CEO of Valinor Enterprises. 

Valinor has proven the efficacy of this hub-and-spoke model, publicly launching five Product Companies to market in under a year. All have delivered rapid value, securing government contracts and deploying to critical missions across the Department of War, the Intelligence Community, and civilian U.S. government agencies, in addition to commercial customers.

• Harbor, a mobile, modular medical system equipped for precision care, rapid response, and remote monitoring in austere environments.
• Reflex, a discreet smart optics system with advanced vision models onboard, embedding intelligence at the point-of-capture.
• Dispatch, a modular charging node purpose-built for unmanned systems, powering persistent, autonomous operations.
• Streamline, secure data ingestion software designed for disconnected environments and distributed teams.
• Condor, an attritable UAS engineered for air- and ground-launch, high-volume production, and contested environments built on a U.S. supply chain.

Valinor is actively building Product Companies in three new domains: military construction and infrastructure, munition lifecycle management, and maritime support systems. These offerings will begin rolling out publicly in early 2026, marking the first wave of an expanding portfolio of Product Companies.

“Having built Palantir as CFO and backed both Anduril and SpaceX as longtime investors, we know what it takes to deliver meaningful products to the loudest problems in defense and government. Yet, a new model is required to solve the longtail of quiet problems. We are proud to support Valinor as it applies the proven operational holding company model seen in software and biotech to the critical missions facing our defense and national security,” said Colin Anderson, Co-Founder of Friends & Family Capital.

“Taken individually, each of Valinor’s products has the power to categorically change outcomes for our warfighters and frontline operators,” said Paul Kwan, Co-Founder of Valinor Enterprises and Managing Director of General Catalyst’s Global Resilience team. “Taken together, we believe they represent a sea-change in how products are sourced, developed, and delivered for defense, national security, and broader public sector missions.”

About Valinor Enterprises
Founded in 2024 and headquartered in Washington, D.C., Valinor Enterprises builds and buys critical defense and government technology solutions for the modern battlespace. Led by Co-Founder and CEO Julie Bush, Valinor aims to solve the quiet, unaddressed problems that crack systems and stall missions. Structured as an operational holding company, Valinor is assembling an ecosystem of right-sized solutions to make America and her allies better, stronger, and more resilient.

About Friends & Family Capital
Friends & Family Capital invests in entrepreneurs that transform big markets. The firm’s founding partners helped scale Palantir in the private markets as its longtime CFO and jointly backed over 25 Unicorn startups. The trusted partner for Founders and CFOs as they scale their finance function, Friends & Family Capital invests in business models that produce long-term and defensible compounding growth and cash flow powered by world-class software. For more information, please see www.fafc.com.

SOURCE Valinor Enterprises

AI investment in healthcare exceeded $18B in 2025; Investments grew in healthtech and device sectors

SAN FRANCISCO, Jan. 8, 2026 — Artificial Intelligence (AI) dominated the healthcare investment landscape in 2025 as investments in AI healthcare companies represented 46% of total spending, according to the latest report from Silicon Valley Bank, a division of First Citizens Bank. While AI generated significant investment, the report found that overall investment in the healthcare sector was $46.8B in 2025, marking a 12% decrease since the previous year.

“Healthcare venture fundraising has entered a reset,” said Megan Scheffel, co-author of the report and Head of Life Science and Healthcare at Silicon Valley Bank, a division of First Citizens Bank. “First-time and emerging managers face longer fundraising cycles, while founders are seeing earlier capital go toward companies with clinical validation, revenue traction, or capital-efficient business models. Large, generalist VC firms with dedicated healthcare arms continue to raise, but overall fundraising indicates a more concentrated healthcare VC ecosystem.”

Key findings from the 2026 Healthcare Investments and Exits report¹ include:

AI Investment Soars

• With more than $18B invested so far, AI now makes up 46% of all healthcare investment.
• Investments in the healthtech (+5.3%) and device (+1.5%) sectors grew, while biopharma (-19%) and dx/tools (-33%) declined.
• Healthcare investment totaled $46.8B in 2025, compared to the $68.3B peak in 2021.

Venture Capital is Getting Back to Basics

• Total VC deal counts were down 7% in 2025, reflecting a more selective funding environment amid fundraising constraints in the healthcare ecosystem.
• Healthcare focused VCs raised $7B in new funds in 2025.
• This is down from the $41B peak in 2021.

The Mega Deal Has Been Redefined

• In 2025, there were more healthcare AI deals over $300M than in any other year, surpassing the sector’s overall peak investment year in 2021.
• $300M+ deals accounted for 40% of total healthcare AI spending in 2025. Deals of this size represented 29% of total healthcare AI deals in 2023 and 31% of total healthcare AI deals in 2024.
• The majority of these deals are going to AI startups given the significant capital requirements of generative and agentic AI solutions.

Learn More
To read the complete Healthcare Investments and Exits report, click here: Healthcare Investments and Exits | Silicon Valley Bank (svb.com).

To share its deep industry knowledge, Silicon Valley Bank develops various insights reports focused on sectors spanning the innovation economy. This is SVB’s first market report in 2026 after publishing 20 new market reports in 2025. For the complete library of SVB’s signature reports, please visit Market Research Industry Trends & Insights | Silicon Valley Bank (svb.com).

About Silicon Valley Bank
Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of some of the world’s most innovative companies and investors. SVB provides commercial banking to companies in the technology, life science and healthcare, private equity and venture capital industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections. SVB’s parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA ), is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com

¹ Refer to full report for data sources and timeframes

SOURCE Silicon Valley Bank

MINNEAPOLIS, Jan. 8, 2026 — Flywheel, the leading medical imaging data management and analysis platform, today announced key milestones achieved in 2025. The company also recently closed on an oversubscribed $25 million financing round, led by Novalis Lifesciences and 8VC.

Flywheel has evolved from its origin as a technology platform designed to support core lab research to an enterprise imaging management platform designed to support clinical trials, medical device development and AI innovation through at-scale data aggregation, curation and analysis. 

Over the past year, Flywheel expanded its core capabilities by launching video viewing and annotation tools, along with Flywheel Validated, a solution that streamlines 21 CFR Part 11 compliant workflows for clinical trials. Together, these capabilities are designed to enable earlier access to imaging data with provenance, reduced costs and improved quality — ultimately helping accelerate time to decision and time to market.

“Imaging data holds tremendous value and is increasingly viewed as a strategic asset. Unlocking this value requires more than just a foundational infrastructure to aggregate data. It involves integrated data management, curation, compliant workflows and AI capabilities, along with access to a connected healthcare ecosystem — all at scale.  Flywheel is well-positioned to uniquely transform how companies can maximize value from their imaging assets by better informing clinical trials, accelerating AI development and enabling research and clinical teams to move faster from discovery to decision,” said Hooman Hakami, Flywheel CEO and Board Chair.

2025 Company Highlights include:

• Customer base: 10 of the top 20 global pharmaceutical companies have selected Flywheel to advance digital transformation strategies and accelerate the development and use of imaging endpoints and AI-ready datasets. Flywheel also serves 10 of the top 20 academic medical centers (AMCs) and expanded its product capabilities to better serve medical device companies, research sponsors and their partner sites.
• Platform adoption: Flywheel achieved 43% year-over-year growth in new business, leading to a 40% increase in committed revenue. Annual recurring revenue (ARR) from pharmaceutical and medical device customers grew 106% versus the prior year. The company’s overall net revenue retention exceeded 110%, reflecting strong customer loyalty and expanding adoption across key markets.
• New products: During 2025, Flywheel launched its video viewing and annotation tool to enable management and analysis of video data alongside imaging data. In December, the company launched Flywheel Validated to help clinical trial stakeholders better access and analyze their clinical trial imaging data to facilitate faster decision-making and secondary data use within a 21 CFR Part 11 compliant environment.
• Capital investment: In December, the company raised $27.5 million in equity financing. This new capital will further accelerate product innovation and support the company’s continued growth, particularly in the area of image management for clinical trials and AI model development.

To learn more about the Flywheel platform or to request a demo, please visit www.flywheel.io.

About Flywheel
With our leading medical imaging platform, we serve the overall healthcare market. With our offerings, we drive innovation in three distinct customer segments: 1) Biopharmaceutical companies, 2) Medical Device manufacturers, and 3) Academic Medical Centers. Our solutions allow our customers to realize optimum value from their imaging data assets by streamlining imaging data management, automating research workflows and preparing data for AI development. The company is backed by investors including Novalis LifeSciences LLC, 8VC, NVIDIA, Microsoft, Novartis and Intuitive Surgical, among others. For more information on our mission and products, visit www.flywheel.io or follow us on LinkedIn.

SOURCE Flywheel